{"s682": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "An Enron representative declined to comment, as did a spokesman for Dynegy. Spokesmen for Blackstone and Clayton, Dubilier & Rice declined comment.", "clipped": true, "phrase": "An Enron representative declined to comment, as did a spokesman for Dynegy.", "path": "kitchen-l/_americas/sec_media/49."}, "s689": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "According to a person close to the company, Enron hopes within the next week to outline publicly the various off-balance-sheet debts and related-party transactions that have drawn the attention of the S.E.C. \nOfficials with other large energy companies, including Duke Energy, Dynegy Inc. and Reliant Inc., declined comment Tuesday on whether they have had discussions about making an investment in Enron.", "clipped": true, "phrase": "Officials with other large energy companies, including Duke Energy, Dynegy Inc. and Reliant Inc., declined comment Tuesday on whether they have had discussions about making an investment in Enron.", "path": "kitchen-l/_americas/sec_media/47."}, "s690": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "credit quality, have shed roughly ten points. \n\n  Enron will not comment. But sources close to the situation tell me the\ncompany continues to speak with a handful of private equity firms about an\ninvestment. Those talks are still in the early stages. \n  Talks with Dynegy, a cross-town rival of Enron's that also markets and trades\nenergy, have progressed at a faster pace. \n\n  Dynegy is unlike Enron in that it owns more hard assets, many of which came\nalong with the acquisition of Illnova, completed in 2000. \n  While many potential acquirers have shied away from Enron due to continued\nconcern about unknown liabilities the company may have, Dynegy is very familiar\nwith its energy trading business. \n\n  Dynegy is the number two player in the U.S. energy trading market and would", "clipped": true, "phrase": "Talks with Dynegy, a cross-town rival of Enron's that also markets and trades\nenergy, have progressed at a faster pace.", "path": "kitchen-l/_americas/sec_media/46."}, "s696": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "key employees rather than invest in Enron,'' Egan said.\n\n     The shares pared some of today's losses after CNBC reported\nthat Enron is talking with rival Dynegy Inc. about options,\nincluding a merger. Both companies are based in Houston.\n\n     ``We don't comment on market rumors,'' Dynegy spokesman Steve\nStengel said.\n\n     ``Enron does not comment on speculation on mergers and\nacquisitions,'' Enron spokesman Mark Palmer said.\n\n     Berkshire Hathaway Inc. Chairman Warren Buffett decided\nagainst investing in Enron because he wasn't willing to sign a\nconfidentiality agreement that would keep him from trading Enron's\ndebt, the New York Times reported today, citing an unidentified\nperson close to the talks.", "clipped": true, "phrase": "``We don't comment on market rumors,'' Dynegy spokesman Steve\nStengel said.", "path": "kitchen-l/_americas/sec_media/46."}, "s695": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "Spokesmen for Dynegy and Enron declined to comment.\n\nWSJ: Dynegy In Talks To Put About $2B Into Enron Now\nBy Robin Sidel\n\n11/07/2001\nDow Jones News Service\n(Copyright (c) 2001, Dow Jones & Company, Inc.)\n\nOf The Wall Street Journal \n\nNEW YORK -(Dow Jones)- Dynegy Inc. (DYN) is in advanced discussions to infuse about $2 billion into Enron Corp. (ENE) in a transaction that may lead to a full-blown merger between the two companies, sources familiar with the matter told The Wall Street Journal.\nA formal transaction could be unveiled as early as Thursday, these people said. The situation is very fluid and is subject to change, these people noted. \n(This report and related background will be available at the Journals' Web site, WSJ.com.)", "clipped": true, "phrase": "Dynegy Inc. (DYN) is in advanced discussions to infuse about $2 billion into Enron Corp. (ENE) in a transaction that may lead to a full-blown merger between the two companies", "path": "kitchen-l/_americas/sec_media/46."}, "s709": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "with private-equity firms and power-trading companies. The company desperately needs to win back its credibility on Wall Street following the disclosure that the Securities and Exchange Commission was investigating the partnerships created to serve as a hedge against fluctuating market conditions. Discussions between Dynegy and Enron began about 10 days ago, but intensified last weekend. \nEnron also is expected today to disclose more financial dealings about the partnerships. A person close to Dynegy said the potential acquirer feels it understands Enron's business and is apprised of the liabilities, which have been factored into the transaction.", "clipped": true, "phrase": "Discussions between Dynegy and Enron began about 10 days ago, but intensified last weekend.", "path": "kitchen-l/_americas/sec_media/44."}, "s848": {"from": "rahil.jafry@enron.com", "to": "louise.kitchen@enron.com, marcus.nettelton@enron.com", "subject": "FW: Highlights from this morning's ENE/DYN analyst conference call", "text": "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 (uh-oh).  They bracketed the maximum expected exposure from the non-core assets/businesses and left it at that.\nWatson 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.\nWatson/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.", "clipped": true, "phrase": "Watson mentions that DYN would not have gotten involved with Enron had they not been approached by 'Enron's top three executives'", "path": "kitchen-l/_americas/east_power/12."}, "s866": {"from": "j..kean@enron.com", "to": "mary.clark@enron.com", "subject": "FW: Revised KLL Voice Mail Script", "text": "I agree with Beth.  We had some other options to pursue before we got to that stage, but the Dynegy option was the best.  It's overstating it a bit to say it was the only way to keep the ship from going down.\n -----Original Message-----\nFrom: \tTilney, Elizabeth  \nSent:\tMonday, November 12, 2001 5:33 PM\nTo:\tDenne, Karen\nCc:\tPalmer, Sarah; Kean, Steven J.; Palmer, Mark A. (PR); Olson, Cindy; Clark, Mary\nSubject:\tRE: Revised KLL Voice Mail Script\n\nCan we take out the part about the ship going down?  Otherwise, I am fine with it. Beth", "clipped": false, "phrase": "We had some other options to pursue before we got to that stage, but the Dynegy option was the best.", "path": "kean-s/sent_items/562."}, "s717": {"from": "chairman.ken@enron.com", "to": "dl-ga-all_enron_worldwide@enron.com", "subject": "Dynegy Discussions", "text": "Enron and Dynegy each announced today that they are holding discussions about a possible merger of the two companies.  As you know, Dynegy is a major player in the energy marketplace, and is not only a competitor, but also a counterparty of Enron.  This is just one of several options that we are considering.\n\nUpon receipt of this announcement, the NYSE briefly suspended trading of both Enron and Dynegy.  We have no additional information we can share at this time.  We'll keep you updated as developments occur.", "clipped": false, "phrase": "Enron and Dynegy each announced today that they are holding discussions about a possible merger of the two companies.", "path": "mann-k/inbox/264."}, "s725": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions", "text": "NEW YORK -(Dow Jones)- Even as more facts are revealed regarding Enron Corp.'s (ENE) financial dealings, investors can agree: Things remain as clear as mud. \nEarlier Thursday, Enron and Dynegy Inc. (DYN) confirmed the neighboring rivals were talks for a potential \"business combination.\" An agreement hasn't been reached yet, and neither company will make any further comment until a contract is signed or the talks end.\nSeparately, Enron restated its earnings from 1997 through the second quarter of 2001. \nAs the news hit the tape, Enron shares, after being briefly halted, seemed to hunt for a direction. The stock traded as high as $10, and as low as $8.40. Currently, the shares were at $8.67, down 38 cents, or 4.2%. Wednesday, the shares zigzagged.", "clipped": true, "phrase": "An agreement hasn't been reached yet, and neither company will make any further comment until a contract is signed or the talks end.", "path": "kitchen-l/_americas/sec_media/43."}, "s719": {"from": "chairman.ken@enron.com", "to": "dl-ga-all_enron_worldwide@enron.com", "subject": "Dynegy Discussions", "text": "Enron and Dynegy each announced today that they are holding discussions about a possible merger of the two companies.  As you know, Dynegy is a major player in the energy marketplace, and is not only a competitor, but also a counterparty of Enron.  This is just one of several options that we are considering.\n\nUpon receipt of this announcement, the NYSE briefly suspended trading of both Enron and Dynegy.  We have no additional information we can share at this time.  We'll keep you updated as developments occur.", "clipped": false, "phrase": "Upon receipt of this announcement, the NYSE briefly suspended trading of both Enron and Dynegy.", "path": "mann-k/inbox/264."}, "s704": {"from": "pr <.palmer@enron.com>", "to": "kenneth.lay@enron.com, greg.whalley@enron.com, mark.frevert@enron.com,   \tj..kean@enron.com, jeffrey.mcmahon@enron.com, mark.koenig@enron.com,   \tjames.derrick@enron.com, rex.rogers@enron.com, e..haedicke@enron.com,   \traymond.bowen@enron.c", "subject": "FW: no deal release", "text": "This is a stand by.  It has been approved by Dynegy and the Baker Botts team.  Suggest we also draft a \"what's next\" release discussing private equity or other alternatives.  Steve and I will get something out soon for review.\n\n -----Original Message-----\nFrom: \tDenne, Karen  \nSent:\tThursday, November 08, 2001 6:50 AM\nTo:\tPalmer, Mark A. (PR); Hiltabrand, Leslie\nSubject:\tno deal release\nImportance:\tHigh", "clipped": false, "phrase": "This is a stand by.  It has been approved by Dynegy and the Baker Botts team.", "path": "kean-s/pr___notre_dame/7."}, "s716": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "Enron is expected today to send the S.E.C. answers to questions the agency has posed in its investigation. The answers have been reviewed by Dynegy officials, the executives said, and are expected to be released publicly. \nEnron is scheduled to meet its creditors tomorrow about the company's continuing crisis -- and about the merger deal, if there is one. \nPeople close to the deal say the company hopes that a deal with Dynegy, and the release of the answers to the S.E.C., will calm the crisis that has engulfed the company and led other energy companies that trade with Enron to curtail their credit exposure to the company.", "clipped": true, "phrase": "The answers have been reviewed by Dynegy officials, the executives said, and are expected to be released publicly.", "path": "kitchen-l/_americas/sec_media/44."}, "s754": {"from": "karen.denne@enron.com", "to": "kenneth.lay@enron.com, mark.frevert@enron.com, jeffrey.mcmahon@enron.com,   \trick.buy@enron.com, richard.causey@enron.com,   \tjames.derrick@enron.com, j..kean@enron.com, mark.koenig@enron.com,   \twes.colwell@enron.com, paula.rieker@enron.co", "subject": "Final Communication Materials", "text": "Thank you all for your assistance in communicating these messages with employees.\n\nKaren \nx39757\n\nAttachments: \n\t-- press release, issued by Dynegy and posted on www.enron.com in the Press Room\n\t-- timeline for communication rollout\n\t-- key messages for use with internal and external audiences\n\t-- talking points for use with employees\n\t-- email to employees w/ link to Q&As\n\t-- video script (to be viewed by employees on the intranet: UpFront!)\n\t-- external Q&A for use with the media and external audiences\n\t-- internal Q&A for background use in meetings with employees\n\t-- intranet Q&A posted on the web for employees", "clipped": true, "phrase": "press release, issued by Dynegy and posted on www.enron.com in the Press Room", "path": "kitchen-l/_americas/sec/23."}, "s759": {"from": "chairman.ken@enron.com", "to": "dl-ga-all_enron_worldwide2@enron.com", "subject": "Enron Announces Plans to Merge with Dynegy", "text": "--   The transaction is subject to shareholder and regulatory approvals, and is expected to close late next year.\n\nEnron will have immediate access to Dynegy's $1.5 billion cash investment in Enron's Northern Natural Gas subsidiary.\n\nManagement of Newly Formed Company\n\nChuck Watson will be chairman and CEO of the newly formed company, which will be called Dynegy Inc., and Steve Bergstrom will be president and COO.\n\nI will continue to serve as chairman and CEO of Enron until the transaction closes.  I will not join the Dynegy Office of the Chairman.  Greg Whalley will continue to serve as president and COO of Enron until the transaction closes.  Then he will become an executive vice president of the new company and will join the Dynegy Office of the Chairman.  Mark Frevert will continue as vice chairman of Enron.", "clipped": true, "phrase": "Chuck Watson will be chairman and CEO of the newly formed company, which will be called Dynegy Inc., and Steve Bergstrom will be president and COO.", "path": "mann-k/inbox/278."}, "s832": {"from": "issuealert@scientech.com", "to": "issuealerthtml@listserv.scientech.com", "subject": "Dynegy and Enron Announce Merger", "text": "In addition, Dynegy will provide an immediate $1.5-billion asset-backed equity infusion into Enron to help the company with its current financial woes, followed by an additional infusion of $2.5 billion into the combined company by ChevronTexaco. Chuck Watson, chairman and CEO of Dynegy, will retain his position at the new company. Steve Bergstrom, president of Dynegy, and Rob Doty, chief financial officer, will retain their positions at the new company. It is not presently known what role, if any, Ken Lay, current CEO of Enron, will hold at the new company.", "clipped": true, "phrase": "Chuck Watson, chairman and CEO of Dynegy, will retain his position at the new company. Steve Bergstrom, president of Dynegy, and Rob Doty, chief financial officer, will retain their positions at the new company.", "path": "kean-s/dynegy_transaction/4."}, "s762": {"from": "chairman.ken@enron.com", "to": "dl-ga-all_enron_worldwide5@enron.com", "subject": "Enron Announces Plans to Merge with Dynegy", "text": "I will continue to serve as chairman and CEO of Enron until the transaction closes.  I will not join the Dynegy Office of the Chairman.  Greg Whalley will continue to serve as president and COO of Enron until the transaction closes.  Then he will become an executive vice president of the new company and will join the Dynegy Office of the Chairman.  Mark Frevert will continue as vice chairman of Enron.\n\nManagement from Enron and Dynegy will work together to ensure a smooth, efficient integration.  The make-up of the integration team has not yet been determined.", "clipped": true, "phrase": "he will become an executive vice president of the new company and will join the Dynegy Office of the Chairman.", "path": "jones-t/inbox/944."}, "s774": {"from": "karen.denne@enron.com", "to": "kenneth.lay@enron.com, mark.frevert@enron.com, jeffrey.mcmahon@enron.com,   \trick.buy@enron.com, richard.causey@enron.com,   \tjames.derrick@enron.com, j..kean@enron.com, mark.koenig@enron.com,   \twes.colwell@enron.com, paula.rieker@enron.co", "subject": "Merger News Articles", "text": "Mr. Watson and Steve Bergstrom, Dynegy's president, will hold those positions in the new company, which will be called Dynegy and remain in Houston. Mr. Lay, who created Enron in the mid-1980's, will not have any role in the combined company's daily operations. He has been asked to join its board but has not provided an answer. ''The last three weeks haven't been a lot of fun,'' he said. \n\nIn a statement announcing the agreement yesterday afternoon, Mr. Watson said he was confident that the merger would produce a strong new company. ''Enron is the ideal strategic partner for Dynegy,'' Mr. Watson said. ''We will keep a strong balance sheet and straightforward financial structure as key priorities.''", "clipped": true, "phrase": "He has been asked to join its board but has not provided an answer.", "path": "kitchen-l/_americas/sec/19."}, "s777": {"from": "cfishkin@kpmg.com", "to": "legal <.taylor@enron.com>, a.fishkin@enron.com, tana.jones@enron.com", "subject": "RE: note", "text": "Goodbye Enron, Hello Dynegy.\n\nStay in touch.\n\nCharles\n\n-----Original Message-----\nFrom: Mark.Taylor@enron.com [mailto:Mark.Taylor@enron.com]\nSent: Friday, November 09, 2001 11:03 AM\nTo: cfishkin@kpmg.com; Tana.Jones@enron.com\nSubject: RE: note\n\nThanks for your note.  We're hanging in there.\n\n    -----Original Message-----\n   From:   \"Fishkin, Charles A\" <cfishkin@kpmg.com>@ENRON\n   Sent:   Thursday, November 08, 2001 9:05 PM\n   To:     Taylor, Mark E (Legal); Jones, Tana", "clipped": true, "phrase": "Goodbye Enron, Hello Dynegy.", "path": "jones-t/inbox/945."}, "s775": {"from": "no.address@enron.com", "to": "louise.kitchen@enron.com", "subject": "RE: Communication Materials for you", "text": "Cc:\tLavorato, John\nSubject:\tCommunication Materials for you\n\nThese are the briefing materials, as the deal was announced so late we are unfortunately not able to verbally talk you through them but here's what we have been given..\n\nLouise & John \n\nAttachments: \n\t-- press release, issued by Dynegy and posted on www.enron.com in the Press Room\n\t-- timeline for communication rollout\n\t-- key messages for use with internal and external audiences\n\t-- talking points for use with employees\n\t-- email to employees w/ link to Q&As\n\t-- video script (to be viewed by employees on the intranet: UpFront!)\n\t-- external Q&A for use with the media and external audiences\n\t-- internal Q&A for background use in meetings with employees\n\t-- intranet Q&A posted on the web for employees", "clipped": true, "phrase": "-- press release, issued by Dynegy and posted on www.enron.com in the Press Room", "path": "kitchen-l/_americas/esvl/576."}, "s776": {"from": "martin.thomas@enron.com", "to": "louise.kitchen@enron.com", "subject": "RE: Communication Materials for you", "text": "Cc: Lavorato, John \nSubject: Communication Materials for you\n\nThese are the briefing materials, as the deal was announced so late we are unfortunately not able to verbally talk you through them but here's what we have been given..\n\nLouise & John \n\nAttachments: \n        -- press release, issued by Dynegy and posted on www.enron.com in the Press Room \n        -- timeline for communication rollout \n        -- key messages for use with internal and external audiences \n        -- talking points for use with employees \n        -- email to employees w/ link to Q&As \n        -- video script (to be viewed by employees on the intranet: UpFront!) \n        -- external Q&A for use with the media and external audiences \n        -- internal Q&A for background use in meetings with employees", "clipped": true, "phrase": "-- press release, issued by Dynegy and posted on www.enron.com in the Press Room", "path": "kitchen-l/_americas/esvl/575."}, "s1162": {"from": "postmaster@bc-corpmail01.bruncorp.com", "to": "j..kean@enron.com", "subject": "Undeliverable message", "text": "> employees to check their email for an important video message through\n> the weekend and Monday morning.  Call me if you have any questions.\n>=20\n> Thank you all for your assistance in communicating these messages with\n> employees.\n>=20\n> Karen=20\n> x39757\n>=20\n> Attachments:=20\n> \t-- press release, issued by Dynegy and posted on www.enron.com\n> in the Press Room\n> \t-- timeline for communication rollout\n> \t-- key messages for use with internal and external audiences\n> \t-- talking points for use with employees\n> \t-- email to employees w/ link to Q&As\n> \t-- video script (to be viewed by employees on the intranet:\n> UpFront!)\n> \t-- external Q&A for use with the media and external audiences\n> \t-- internal Q&A for background use in meetings with employees", "clipped": true, "phrase": "press release, issued by Dynegy and posted on www.enron.com", "path": "kean-s/deleted_items/434."}, "s812": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions - 11/11/01", "text": "Takeover rumors swirled last week around Enron before Dynegy announced the deal Friday, underscoring predictions of general industry consolidation because of low stock prices. \nSome Firms Thriving, but Not Their Stocks \nSome companies are still going strong, although their stocks remain depressed. \nThat includes companies on the receiving end of potshots from California's politicians and utility regulators such as Duke Energy, Dynegy, Mirant, NRG Corp. and Williams, as well as San Jose-based Calpine Corp., which was repeatedly praised by Davis for playing a constructive role during the crisis.", "clipped": true, "phrase": "Takeover rumors swirled last week around Enron before Dynegy announced the deal Friday, underscoring predictions of general industry consolidation because of low stock prices.", "path": "kitchen-l/_americas/sec_media/39."}, "s798": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions - 11/09/01-11/10/01", "text": "To protect Dynegy's and ChevronTexaco's cash infusion, the money will go to an Enron unit that owns the Northern Natural Gas Pipeline. If the merger is not completed, Dynegy will have the right to buy the unit. \nAn army of bankers and lawyers advised the companies. Lehman Brothers Inc. acted as financial adviser and Baker Botts and Akin, Gump, Strauss, Hauer & Feld acted as counsel for Dynegy. J. P. Morgan & Company and Salomon Smith Barney acted as financial advisers for Enron, and Vinson & Elkins and Weil Gotshal & Manges acted as the company's counsel. Pillsbury Winthrop served as counsel to ChevronTexaco.", "clipped": true, "phrase": "Lehman Brothers Inc. acted as financial adviser and Baker Botts and Akin, Gump, Strauss, Hauer &amp; Feld acted as counsel for Dynegy.", "path": "kitchen-l/_americas/sec_media/40."}, "s911": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions", "text": "Izatt made the comments during a conference call held Tuesday with bondholders to discuss the proposed acquisition, which was announced late last Friday. \nLehman's investment bankers advised Dynegy on the transaction. Enron was advised by J.P. Morgan Chase & Co. (JPM) and Citigroup Inc. (C).\nOn Monday, the marriage of the two Houston energy traders received a warm reception as equity investors bid up shares of both companies. \nRecently, Enron shares traded at $9.25, up 1 cent, or 0.2%, while Dynegy shares changed hands at $45.00, up 69 cents, up 1.6%.", "clipped": true, "phrase": "Lehman's investment bankers advised Dynegy on the transaction.", "path": "kitchen-l/_americas/sec_media/35."}, "s880": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "The bullish case for the merger is that Enron's real profits were there and that the financial maneuvering did not cover up far deeper problems. \nMr. Watson promised that more details would be disclosed about the partnerships that were created by Enron and traded with it, providing a substantial part of the company's profits in 2000.", "clipped": true, "phrase": "Mr. Watson promised that more details would be disclosed about the partnerships that were created by Enron and traded with it", "path": "kitchen-l/_americas/sec_media/36."}, "s927": {"from": "legal <.schuler@enron.com>", "to": "jeffrey.mcmahon@enron.com, tim.despain@enron.com, j..kean@enron.com", "subject": "FW: *Merger Agreement Summary", "text": "In any event, I would tell people that the discussion of the merger agreement is qualified to the terms of the merger agreement, a copy of which will be filed with the SEC under a Form 8-K, first thing in the morning.  \n\nThanks.  Lance.  \n\nW. Lance Schuler\nEnron North America Corp.\n1400 Smith Street\nHouston, Texas  77002\nPhone: 713/853-XXXX\nFax:  281/664-XXXX\nEmail:  lance.schuler-legal@enron.com\n\n \n\n - 712057_1.DOC", "clipped": true, "phrase": "a copy of which will be filed with the SEC under a Form 8-K, first thing in the morning", "path": "kean-s/dynegy_transaction/6."}, "s939": {"from": "j..kean@enron.com", "to": "maureen.mcvicker@enron.com", "subject": "FW: Final Communication Materials", "text": "Importance:\tHigh\n\nMESSAGE POINTS FROM MEETING\nMONDAY, NOV. 13, 2001\n\nUpcoming Events \n\n?\tTues., Nov. 13 - 8K filing re secured financing\n?\tTues., Nov. 13 - Customer letters from EES - will go out possibly today\n?\tTues., Nov. 13  - Baker Institute - Enron prize to Alan Greenspan - Ken to attend\n?\tWed., Nov. 14 - 8K filing (Dynegy and Enron separately filing) with merger agreement (perhaps with summary) \n?\tWed., Nov. 14 (8:30 - 9:30 am (CST)) - Investor update conf call re liquidity, 8K on SEC questions, and Whitewing and Marlin\n?\tMon., Nov. 19 (time t/b/a) - Bank meeting @ Hyatt in Houston \n?\tThurs., Nov. 29 - Possible All employee meeting \n\nQuestions of the Day\n\n?\tLiquidity and counterparty activity.  Transaction count on EnronOnline (media and investors)", "clipped": true, "phrase": "Wed., Nov. 14 - 8K filing (Dynegy and Enron separately filing) with merger agreement", "path": "kean-s/sent_items/569."}, "s879": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "Mr. Watson said he was confident that things would not go wrong. \n''We have comfort there is not another shoe to drop,'' he said. ''If there is no shoe, this is a phenomenally good transaction.''", "clipped": true, "phrase": "We have comfort there is not another shoe to drop", "path": "kitchen-l/_americas/sec_media/36."}, "s882": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "But Chuck Watson, Dynegy's chairman, told investors repeatedly yesterday that Enron's problems were mainly a result of failed expansion efforts. He largely dismissed the concerns of some short-sellers and analysts that Enron might be hiding losses at its core energy trading operations. \n''There's nothing wrong with Enron's business,'' Mr. Watson said in an interview at the Waldorf-Astoria Hotel after making a lunchtime presentation to analysts and investors. ''The people in it ought to be really upset that for the last several years, they have produced earnings and cash that have been invested in other businesses that are not making money.''", "clipped": true, "phrase": "There's nothing wrong with Enron's business", "path": "kitchen-l/_americas/sec_media/36."}, "s884": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "Many employees at Enron will get new grants of stock options when the acquisition is completed, he said. The company said it expected the deal to close by the end of the third quarter of next year, after extensive reviews from federal and state energy regulators and the Department of Justice. \nMr. Watson predicted that the deal would lift Dynegy's earnings by 90 cents or more a share next year, to more than $3.45 a share.", "clipped": true, "phrase": "Many employees at Enron will get new grants of stock options when the acquisition is completed, he said.", "path": "kitchen-l/_americas/sec_media/36."}, "s894": {"from": "jay.webb@enron.com", "to": "louise.kitchen@enron.com", "subject": "do they get it?", "text": "(NYSE:ENE - news) agreed last week to a $9 billion\ntakeover by Dynegy Inc. (NYSE:DYN - news), Dynegy said\nMonday.\n\nThe integration of the two platforms will take about\nsix to nine months, Dynegy said. In the meantime, the\ntwo will continue to operate separately.\n\n``We're looking to take the best of both platforms for\nthe integrated company,'' said Dynegy spokesman John\nSousa. ``(The emerging platform) will continue to be\nbased on a one-to-many philosophy as it stands now.''\n\nOn both EnronOnline and DynegyDirect traders can only\ndeal with Enron and Dynegy, respectively.\n\nEnronOnline is the biggest online energy trading\nplatform in the United States, with a daily average of\n$2.6 billion in trades in the past month.\n\nDynegyDirect is a much smaller, though growing\nplatform. It recorded nearly $10 billion in", "clipped": true, "phrase": "``We're looking to take the best of both platforms for\nthe integrated company,'' said Dynegy spokesman John\nSousa.", "path": "kitchen-l/_americas/esvl/558."}, "s954": {"from": "chairman.ken@enron.com", "to": "dl-ga-all_enron_worldwide2@enron.com", "subject": "Overview of Investor Conference Call", "text": "In connection with the proposed transactions, Dynegy and Enron will file a joint proxy statement/prospectus with the Securities and Exchange Commission. Investors and security holders are urged to carefully read the joint proxy statement/prospectus regarding the proposed transactions when it becomes available, because it will contain important information. Investors and security holders may obtain a free copy of the joint proxy statement/prospectus (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. Copie", "clipped": true, "phrase": "In connection with the proposed transactions, Dynegy and Enron will file a joint proxy statement/prospectus with the Securities and Exchange Commission.", "path": "mann-k/inbox/296."}, "s955": {"from": "chairman.ken@enron.com", "to": "dl-ga-all_enron_worldwide5@enron.com", "subject": "Overview of Investor Conference Call", "text": "In connection with the proposed transactions, Dynegy and Enron will file a joint proxy statement/prospectus with the Securities and Exchange Commission. Investors and security holders are urged to carefully read the joint proxy statement/prospectus regarding the proposed transactions when it becomes available, because it will contain important information. Investors and security holders may obtain a free copy of the joint proxy statement/prospectus (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. Copie", "clipped": true, "phrase": "In connection with the proposed transactions, Dynegy and Enron will file a joint proxy statement/prospectus with the Securities and Exchange Commission.", "path": "jones-t/inbox/1006."}, "s932": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "During merger discussions last week, Mr. Lay told Dynegy's chairman, Charles L. Watson, that he wanted to rework the severance package, Mr. Palmer said. On Monday, Mr. Watson disclosed that Mr. Lay wanted much of the severance to be in the form of stock options. \nBy yesterday afternoon, Enron officials were saying that Mr. Lay planned to take two-thirds of the severance in stock or other noncash compensation. And, they said, he wanted to give half of that amount, or one-third of his total package, to establish a charitable foundation to benefit Enron employees.", "clipped": true, "phrase": "During merger discussions last week, Mr. Lay told Dynegy's chairman, Charles L. Watson, that he wanted to rework the severance package, Mr. Palmer said.", "path": "kitchen-l/_americas/sec_media/33."}, "s933": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "The deal could still fall victim to antitrust objections or disclosures of further financial problems at Enron. \nWhether Mr. Lay's gesture will placate Enron's traders, who are now deluging other energy-trading companies with resumes, remains to be seen. Dynegy is known as a much more conservative firm than Enron, and analysts renewed their concerns yesterday about the cultural clash draining the talent, and value, from the combined company. \n''So much of their top talent is going out the door, I don't know what Dynegy gets,'' said a senior executive at another rival firm. \nThe stunning near-collapse of Enron -- bankruptcy was only averted, some analysts say, by the Dynegy acquisition -- closes a chapter on one of the most influential careers in the history of the energy business.", "clipped": true, "phrase": "Dynegy is known as a much more conservative firm than Enron, and analysts renewed their concerns yesterday about the cultural clash draining the talent, and value, from the combined company.", "path": "kitchen-l/_americas/sec_media/33."}, "s952": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions- 11/14/01", "text": "Enron said Wednesday in an analyst meeting the company expects to take a charge for severance in the fourth quarter. However, no job cut numbers were discussed. \nBaker said the support staff feels their jobs are the ones most threatened by the proposed Dynegy merger. \nDynegy is buying Enron for its trading operation and has said it is confident the best will stick around. \nUpon completion of the merger, the combined company, to be called Dynegy Inc., is expected to have revenues exceeding $200 billion and $90 billion in assets. \nDynegy agreed to buy its larger cross-town rival after Enron investors lost faith in the company whose stock plummeted following its disclosure of off-balance sheet deals with partnerships run by its former chief financial officer.", "clipped": true, "phrase": "Dynegy is buying Enron for its trading operation and has said it is confident the best will stick around.", "path": "kitchen-l/_americas/sec_media/32."}, "s957": {"from": "j..kean@enron.com", "to": "karen.denne@enron.com", "subject": "RE: How's morale!", "text": "-----Original Message-----\nFrom: \tMeg.Nollen@dynegy.com@ENRON  \nSent:\tTuesday, November 13, 2001 9:43 PM\nTo:\tDenne, Karen\nSubject:\tHow's morale!\n\nThis deal depends on the support of your forces - I understand that folks\nare upset at ENE mgt particularly Ken's sweetheart deal\n\nWhat are the chances you guys try to wiggle out of this once we stabilize\nyou?  I've got to account for that on the Street if it's a real possiblity!\n\nMeg Nollen\nDynegy Inc.\n713/767-XXXX\nmeg.nollen@dynegy.com", "clipped": true, "phrase": "What are the chances you guys try to wiggle out of this once we stabilize", "path": "kean-s/sent_items/574."}, "s971": {"from": "the.buzz@enron.com", "to": "", "subject": "the Buzz, Friday, November 16, 2001 (Additions)", "text": "5.\tClick \"Attachment Security\" button\n6.\tChange security from \"high\" to \"none\"\nThe email links should now work properly. If you are having difficulty, call the help desk at extension x39797 and representatives can walk you through the change.\n\nThe Dynegy/Enron Merger\nDynegy and Enron Merger: On November 9, Dynegy and Enron announced an agreement for a merger between the two companies which is expected to confirm the value of Enron's core business, rebuild customer, counter party and investor confidence and strengthen Enron's liquidity. Of the potential options considered outside of a merger, few could provide \"the earnings potential and immediate synergies\" that a combination with Dynegy could provide according to Greg Whalley, Enron president and chief operating officer.", "clipped": true, "phrase": "On November 9, Dynegy and Enron announced an agreement for a merger between the two companies which is expected to confirm the value of Enron's core business, rebuild customer, counter party and investor confidence and strengthen Enron's liquidity.", "path": "kean-s/deleted_items/325."}, "s997": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions - 11/19/01", "text": "Enron is looking to sell Wessex Water, of Britain, as well as other noncore assets in India and Brazil, after a financial crisis nearly brought its main energy trading business to a halt. That crisis led to Enron's decision earlier this month to be acquired by Dynegy Inc., a much smaller rival.\nThe German Bank, Westdeutsche Landesbank Girozentrale of Dusseldorf, or WestLB, is among several suitors for Wessex Water, people close to the discussions said. The sale has also attracted the attention of industry rivals like Thames Water, owned by RWE of Germany. But such a combination would most likely incur a long review by regulators, who might either block the merger on antitrust grounds, or exact stiff concessions, industry experts said.", "clipped": true, "phrase": "That crisis led to Enron's decision earlier this month to be acquired by Dynegy Inc., a much smaller rival.", "path": "kean-s/deleted_items/368."}, "s992": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions - 11/17/01 - 11/18/01", "text": "Marconi, which is financially in a much worse state than the mobile phone giant, has written off most of the #4.1bn paid for US internet hardware companies in 1999. There has also been a great deal of controversy in the US during the past few weeks over the near-collapse of Enron, the power group being rescued by a takeover bid from its smaller rival Dynegy. There was an obvious failure by investors - and by stock market analysts - to assess the true risks at Enron. \nSmart businessmen will sellat mad prices, but why on earth should they buy? The trouble is, too many academics have developed theories of value based on rational expectations. The real world is unfortunately very different.", "clipped": true, "phrase": "the power group being rescued by a takeover bid from its smaller rival Dynegy", "path": "kean-s/deleted_items/369."}, "s1008": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions - 11/19/01", "text": "WestLB is thought to be one of a number of financial buyers to have approached Enron with a view to acquiring Wessex, which is valued at more than AGBP1bn (e1.63bn). \nEnron, the energy trading group which bought Wessex in 1998 for AGBP1.4bn, is being bought by its much smaller US rival Dynegy after collapsing into financial crisis. \nThe Independent on Sunday \nThe water and sewage company Wessex Water is understood to be up for sale following an offer to take over its owner, Enron. \nThree years ago, Enron spent AGBP1.4bn on Wessex Water. \nBut Dynegy is understood to want to concentrate on US and European energy assets and is not interested in non-core assets.", "clipped": true, "phrase": "is being bought by its much smaller US rival Dynegy after collapsing into financial crisis.", "path": "kean-s/deleted_items/368."}, "s999": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions - 11/19/01", "text": "Enron Chairman Kenneth Lay acknowledged last week that failed investments and a loss of investor confidence forced the sale to Dynegy, and he and other executives pledged to be more open with investors. \nEnron shares fell 48 cents Friday to close at $9 on the New York Stock Exchange. Dynegy fell $1.53 to $42.47. \nEnron's third-quarter earnings report, which had been expected last week, was delayed by the Dynegy talks and a restatement of earnings, Chief Financial Officer Jeffrey McMahon said.", "clipped": true, "phrase": "Enron Chairman Kenneth Lay acknowledged last week that failed investments and a loss of investor confidence forced the sale to Dynegy", "path": "kean-s/deleted_items/368."}, "s972": {"from": "the.buzz@enron.com", "to": "", "subject": "the Buzz, Friday, November 16, 2001 (Additions)", "text": "The Dynegy/Enron Merger\nDynegy and Enron Merger: On November 9, Dynegy and Enron announced an agreement for a merger between the two companies which is expected to confirm the value of Enron's core business, rebuild customer, counter party and investor confidence and strengthen Enron's liquidity. Of the potential options considered outside of a merger, few could provide \"the earnings potential and immediate synergies\" that a combination with Dynegy could provide according to Greg Whalley, Enron president and chief operating officer. \n\nThe new organization will focus on core businesses including wholesale energy markets and commercial and industrial energy users. Enron will continue to act as an independent company until the merger, which is expected to close at the end of Q3 2002, is complete. Click here  to view the press release outlining the merger details and the merger Q&A.", "clipped": true, "phrase": "Of the potential options considered outside of a merger, few could provide \"the earnings potential and immediate synergies\" that a combination with Dynegy could provide according to Greg Whalley", "path": "kean-s/deleted_items/325."}, "s964": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "Some investors would say none of that matters now, that the only important fact is that Dynegy is buying Enron anyway. Chuck Watson, Dynegy's chief executive, is convinced that Enron's energy trading business is a gem that more than justifies the price Dynegy is paying. He figures the losses from the bad investments can be contained.", "clipped": true, "phrase": "Chuck Watson, Dynegy's chief executive, is convinced that Enron's energy trading business is a gem that more than justifies the price Dynegy is paying.", "path": "kitchen-l/_americas/sec_media/31."}, "s978": {"from": "mark.koenig@enron.com", "to": "sheryl.d.lara@dynegy.com", "subject": "RE: Revised Meeting Notice - Time Change 2-3:00 P.M.", "text": "Meg - Unfortunately, I am scheduled to be out on Monday, but I will send someone from my group.  Do you have an agenda?  Let me know if you need anything in advance.  You can also call me at home this weekend 281-360-XXXX, or leave me voicemail at work.  Thanks.  MEK\n\n-----Original Message----- \nFrom: Sheryl.D.Lara@dynegy.com \nSent: Fri 11/16/2001 3:44 PM \nTo: Kean, Steven J.; Koenig, Mark; Palmer, Mark A. (PR); John.Sousa@dynegy.com; Meg.Nollen@dynegy.com; Keith.Fullenweider@dynegy.com; dafi@dynegy.com; Arthur.J.Shannon@dynegy.com \nCc: McVicker, Maureen; Hiltabrand, Leslie; Kim.Budzik@dynegy.com; Sandra.K.Monclova@dynegy.com; Sandra.S.Martinez@dynegy.com \nSubject: Revised Meeting Notice - Time Change 2-3:00 P.M.\n\n**  REVISED MEETING NOTICE  ** \nPlease be advised that there will be a meeting held on Monday, November 19, \n2001 from 2:00-3:00 p.m. at the Dynegy offices on the 67th floor in", "clipped": true, "phrase": "The topic of discussion will be \"Near &amp; Long-Term Financial \nCommitments\".", "path": "kean-s/deleted_items/344."}, "s979": {"from": "mark.koenig@enron.com", "to": "sheryl.d.lara@dynegy.com", "subject": "RE: Revised Meeting Notice - Time Change 2-3:00 P.M.", "text": "Debbie Fiorito - Dynegy \n                           Art Shannon - Dynegy \n                            John Sousa - Dynegy \n\nIf you will be unable to attend this meeting, please contact Sheryl Lara at \n713-767-XXXX.  Many thanks! \n\nSheryl D. Lara \nAssistant to Meg Nollen \nDynegy, Inc. - Investor Relations \n1000 Louisiana, Suite 6700 \nHouston, Texas  77002 \nPh: 713-767-XXXX \nFax: 713-767-XXXX", "clipped": true, "phrase": "Assistant to Meg Nollen \nDynegy, Inc. - Investor Relations", "path": "kean-s/deleted_items/344."}, "s1013": {"from": "sheryl.d.lara@dynegy.com", "to": "j..kean@enron.com, mark.koenig@enron.com, pr <.palmer@enron.com>", "subject": "Meeting Today - Time Change 2-3:00 P.M.", "text": "this meeting is: \"Near & Long-Term Financial Communications\".  I am sorry\nfor the miscommunication, my fault!\n\nWe looking forward to seeing everyone at the Dynegy offices at 2:00 p.m.\nThe meeting has been moved to Conference Room  6708.\n\nSheryl D. Lara\nAssistant to Meg Nollen\nDynegy, Inc. - Investor Relations\n1000 Louisiana, Suite 6700\nHouston, Texas  77002\n713-767-XXXX\n\n----- Forwarded by Sheryl D Lara/HOU/Dynegy on 11/19/01 10:11 AM -----\n                                                                        \n                    Sheryl D Lara                                       \n                                         To:     steve.kean@enron.com,  \n                    11/16/01             mark.koenig@enron.com,", "clipped": true, "phrase": "Assistant to Meg Nollen\nDynegy, Inc. - Investor Relations", "path": "kean-s/deleted_items/339."}, "s1018": {"from": "sheryl.d.lara@dynegy.com", "to": "j..kean@enron.com, mark.koenig@enron.com, pr <.palmer@enron.com>", "subject": "Meeting Cancelled Today -  2-3:00 P.M.", "text": "Just wanted to let each of you know that the meeting today has been\ncancelled due to conflicting schedules.  We apologize for the\ninconvenience.\n\nSheryl D. Lara\nAssistant to Meg Nollen\nDynegy, Inc. - Investor Relations\n1000 Louisiana, Suite 6700\nHouston, Texas  77002\n\n----- Forwarded by Sheryl D Lara/HOU/Dynegy on 11/19/01 11:39 AM -----\n                                                                        \n                    Sheryl D Lara                                       \n                                         To:     steve.kean@enron.com,  \n                    11/19/01             mark.koenig@enron.com,", "clipped": true, "phrase": "Assistant to Meg Nollen\nDynegy, Inc. - Investor Relations", "path": "kean-s/deleted_items/333."}, "s1014": {"from": "sheryl.d.lara@dynegy.com", "to": "j..kean@enron.com, mark.koenig@enron.com, pr <.palmer@enron.com>", "subject": "Meeting Today - Time Change 2-3:00 P.M.", "text": "Boardroom.  The topic of discussion will be \"Near & Long-Term Financial\nCommitments\".  The meeting participants are as follows:\n                            Mark Palmer - Enron\n                            Mark Koenig - Enron\n                            Steve Kean - Enron\n                        Keith Fullenweider - Dynegy\n                            Meg Nollen - Dynegy\n                          Debbie Fiorito - Dynegy\n                           Art Shannon - Dynegy\n                            John Sousa - Dynegy\n\nIf you will be unable to attend this meeting, please contact Sheryl Lara at\n713-767-XXXX.  Many thanks!\n\nSheryl D. Lara\nAssistant to Meg Nollen\nDynegy, Inc. - Investor Relations\n1000 Louisiana, Suite 6700\nHouston, Texas  77002\nPh: 713-767-XXXX", "clipped": true, "phrase": "Keith Fullenweider - Dynegy", "path": "kean-s/deleted_items/339."}, "s1019": {"from": "j..kean@enron.com", "to": "maureen.mcvicker@enron.com", "subject": "FW: Meeting Cancelled Today -  2-3:00 P.M.", "text": "Steve Kean - Enron\n                        Keith Fullenweider - Dynegy\n                            Meg Nollen - Dynegy\n                          Debbie Fiorito - Dynegy\n                           Art Shannon - Dynegy\n                            John Sousa - Dynegy\n\nIf you will be unable to attend this meeting, please contact Sheryl Lara at\n713-767-XXXX.  Many thanks!\n\nSheryl D. Lara\nAssistant to Meg Nollen\nDynegy, Inc. - Investor Relations\n1000 Louisiana, Suite 6700\nHouston, Texas  77002\nPh: 713-767-XXXX\nFax: 713-767-XXXX", "clipped": true, "phrase": "John Sousa - Dynegy", "path": "kean-s/sent_items/586."}, "s1064": {"from": "peggy.mahoney@enron.com", "to": "karen.denne@enron.com, j..kean@enron.com", "subject": "HELP!!!", "text": "I think we need to get on top of this fast!  Can McMann issue a\nstatement with Dynegy?\n\nDynegy Won't Comment On Merger Partner Enron's 10-Q\nBy Christina Cheddar\n\n11/20/2001\nDow Jones News Service\n(Copyright (c) 2001, Dow Jones & Company, Inc.)\n\n  NEW YORK -(Dow Jones)- Dynegy Inc. (DYN) declined Tuesday to  comment\non whether its merger with Enron Corp. (ENE) would be affected by the\ncontents of Enron's quarterly filing with the Securities and Exchange\nCommission late Monday.\n\n  In the 10-Q, which was filed five days past the SEC deadline, Enron\nrevised its third-quarter earnings downward by 3 cents a share, and\ndisclosed it may have to pay off a $690 million note owed to an\naffiliated partnership because a clause  in a financial agreement was\ntriggered by the reduction in Enron's senior unsecured debt rating to\ntriple-B-minus by Standard & Poor's a week ago.", "clipped": true, "phrase": "Dynegy Inc. (DYN) declined Tuesday to  comment\non whether its merger with Enron Corp. (ENE) would be affected by the\ncontents of Enron's quarterly filing", "path": "kean-s/deleted_items/400."}, "s1066": {"from": "peggy.mahoney@enron.com", "to": "karen.denne@enron.com, j..kean@enron.com", "subject": "HELP!!!", "text": "pretax charge to earnings for the declining value of assets held by\nanother partnership, Whitewing LLP.\n\n  When asked if Dynegy had known about the collateral call on  the debt\nor about the decline in Whitewing's value, a Dynegy spokeswoman declined\nto comment.\n\n  \"We are referring all questions about the Enron 10-Q to Enron,\" said\nthe spokeswoman. Representatives of Enron weren't  immediately available\nfor comment.\n\n  Dynegy agreed to buy Enron earlier this month. Earlier Tuesday, the\ndeal was worth about $11.97 billion in stock, but Enron shares were\ntrading at a 32.5% discount to the offer price earlier Tuesday morning,\nwhich is a sign of the uncertainty surrounding the transaction.\n\n  Enron shares were recently trading at $7.86, down $1.20, or  13.2%,", "clipped": true, "phrase": "\"We are referring all questions about the Enron 10-Q to Enron,\" said\nthe spokeswoman.", "path": "kean-s/deleted_items/400."}, "s1084": {"from": "peggy.mahoney@enron.com", "to": "j..kean@enron.com, pr <.palmer@enron.com>, karen.denne@enron.com", "subject": "Enron Corp.: IN THE MONEY: Enron Melts As Many See Merger In   Jeopardy", "text": "below the value of the merger.\n\n  Adding to doubts about Enron's long-term viability, the company said\nin a delayed quarterly filing late Monday that its ability to continue\nas a going concern depends on a number of factors, including being able\nto retain an investment grade credit rating.\n\n  Dynegy declined to comment on whether its decision to merge with Enron\nwould be affected by the company's latest  Securities and Exchange\nCommission filing, including the disclosure that Enron will have to\nrepay $690 million in debt by next Tuesday if it doesn't come up with\ncollateral for a loan.\n\n  An Enron spokeswoman wasn't available to comment on the merger plan.\n\n  Among other bad news, Enron's latest report warned investors that the\ncompany faces immediate demand for $3.9 billion in debt if its credit\nrating is downgraded any further.", "clipped": true, "phrase": "Dynegy declined to comment on whether its decision to merge with Enron\nwould be affected by the company's latest  Securities and Exchange\nCommission filing", "path": "kean-s/deleted_items/387."}, "s1075": {"from": "peggy.mahoney@enron.com", "to": "karen.denne@enron.com, j..kean@enron.com", "subject": "HELP!!!", "text": "I think we need to get on top of this fast!  Can McMann issue a\nstatement with Dynegy?\n\nDynegy Won't Comment On Merger Partner Enron's 10-Q\nBy Christina Cheddar\n\n11/20/2001\nDow Jones News Service\n(Copyright (c) 2001, Dow Jones & Company, Inc.)\n\n  NEW YORK -(Dow Jones)- Dynegy Inc. (DYN) declined Tuesday to  comment\non whether its merger with Enron Corp. (ENE) would be affected by the\ncontents of Enron's quarterly filing with the Securities and Exchange\nCommission late Monday.", "clipped": true, "phrase": "Can McMann issue a\nstatement with Dynegy?", "path": "kean-s/deleted_items/400."}, "s1086": {"from": "peggy.mahoney@enron.com", "to": "j..kean@enron.com, pr <.palmer@enron.com>, karen.denne@enron.com", "subject": "Enron Corp.: IN THE MONEY: Enron Melts As Many See Merger In   Jeopardy", "text": "I'm sure you are already seeing these.......any word from Dynegy?\nPeggy\n\nIN THE MONEY: Enron Melts As Many See Merger In Jeopardy\nBy Carol S. Remond\n\n11/20/2001\nDow Jones News Service\n(Copyright (c) 2001, Dow Jones & Company, Inc.)\n\n   A Dow Jones Newswires Column\n\n  NEW YORK -(Dow Jones)- Investors are running for the exits as doubts\nabout Enron Corp.'s (ENE) planned merger with Dynegy Inc. (DYN) mount.\n   Debt and equity markets are taking news of Enron's never ending", "clipped": true, "phrase": "I'm sure you are already seeing these.......any word from Dynegy?", "path": "kean-s/deleted_items/387."}, "s1047": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions- 11/20/01", "text": "Moody's decision to preserve Enron's investment grade rating was one of the main reasons why Dynegy was able to go ahead with its rescue bid. \nIn justifying the all-stock bid, Chuck Watson, chairman of Dynegy, said last week that buying the company for a low price - a fraction of Enron's market capitalisation at its peak in 2000 - was a major protection against failure. \nBut he admitted that much of the last round of negotiations with Moody's had been spent reassuring them that the material adverse change clauses in the merger agreement were not too loose.", "clipped": true, "phrase": "Chuck Watson, chairman of Dynegy, said last week that buying the company for a low price - a fraction of Enron's market capitalisation at its peak in 2000 - was a major protection against failure.", "path": "kean-s/deleted_items/410."}, "s1093": {"from": "karen.denne@enron.com", "to": "kenneth.lay@enron.com, greg.whalley@enron.com, mark.frevert@enron.com,   \tjeffrey.mcmahon@enron.com, raymond.bowen@enron.com,   \tmark.koenig@enron.com, richard.causey@enron.com,   \ttim.despain@enron.com", "subject": "Draft Dynegy Release", "text": "Attached is the language we are proposing to Dynegy for their release tomorrow.  Please send me your comments tonight, and I will send the final release to Rosie to forward to Chuck Watson from Ken.\n\nThank you.\nKaren\nx39757", "clipped": false, "phrase": "Attached is the language we are proposing to Dynegy for their release tomorrow.", "path": "kean-s/pr___notre_dame/22."}, "s1094": {"from": "karen.denne@enron.com", "to": "kenneth.lay@enron.com, greg.whalley@enron.com, mark.frevert@enron.com,   \tjeffrey.mcmahon@enron.com, raymond.bowen@enron.com,   \tmark.koenig@enron.com, richard.causey@enron.com,   \ttim.despain@enron.com", "subject": "Draft Dynegy Release", "text": "Attached is the language we are proposing to Dynegy for their release tomorrow.  Please send me your comments tonight, and I will send the final release to Rosie to forward to Chuck Watson from Ken.\n\nThank you.\nKaren\nx39757", "clipped": false, "phrase": "I will send the final release to Rosie to forward to Chuck Watson from Ken.", "path": "kean-s/pr___notre_dame/22."}, "s1095": {"from": "rosalee.fleming@enron.com", "to": "chuck.watson@dynegy.com", "subject": "Draft Dynegy Release", "text": "Mr. Watson -\n\nAttached is the draft Dynegy release.\n\nThanks.\n\nRosie for Ken Lay", "clipped": false, "phrase": "Attached is the draft Dynegy release.", "path": "kean-s/pr___notre_dame/23."}, "s1133": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions- 11/21/01", "text": "nd Europe; uncertainties regarding environmental regulations or litigation and other legal or regulatory developments affecting Dynegy's business; general political, economic and financial market conditions; and any extended period of war or conflict involving the United States or Europe. Moreover, Dynegy's expectation that the acquisition will be accretive to earnings in 2002 and beyond is based upon achieving certain sales projections, meeting certain cost targets and successfully integrating the acquired assets. More information about the risks and uncertainties relating to these forward-looking statements are found in Dynegy's SEC filings, which are available free of charge on the SEC's Web site at http://www.sec.gov.\n\nCONTACT: Dynegy Inc., Houston 713/767-XXXX \n13:26 EST NOVEMBER 21, 2001 \n\nCopyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved. \t\nEnron says repayment of 690 mln usd debt extended until mid-Dec\n\n11/21/2001\nAFX News", "clipped": true, "phrase": "Dynegy's expectation that the acquisition will be accretive to earnings in 2002 and beyond is based upon achieving certain sales projections, meeting certain cost targets and successfully integrating the acquired assets.", "path": "kean-s/deleted_items/447."}, "s1125": {"from": "issuealert@scientech.com", "to": "issuealerthtml@listserv.scientech.com", "subject": "Enron Continues to Implode; Will the Dynegy Deal Proceed?", "text": "l impact say that Enron is still a liquid company and has money coming in from various sources. Thus, it should have no trouble making the $690-million payment. From a broad perspective, so one theory goes, Dynegy is still getting a great deal in Enron due to its staggering drop in stock price, and the acquisition remains valuable to Dynegy as it will position the combined company as North America's biggest marketer and trader of natural gas and electricity.", "clipped": true, "phrase": "the acquisition remains valuable to Dynegy as it will position the combined company as North America's biggest marketer and trader of natural gas and electricity", "path": "kean-s/deleted_items/422."}, "s1192": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions - 11/26/01", "text": "Watson, 51, has to make good on what may well be his riskiest investment yet. If he can pull it off, the new Dynegy will have revenues of more than $200 billion and $90 billion in assets, including more than 22,000 megawatts of power-generating capacity and 25,000 miles of pipeline. It would control an estimated 20% to 25% of the energy-trading market, up from about 6% now.", "clipped": true, "phrase": "the new Dynegy will have revenues of more than $200 billion and $90 billion in assets, including more than 22,000 megawatts of power-generating capacity and 25,000 miles of pipeline.", "path": "kean-s/deleted_items/478."}, "s1104": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions- 11/21/01", "text": "Enron's financial woes have also led to a \"reduced level of transaction activity\" with the company by trading partners, the SEC filing said. How well, or poorly, Enron's energy-trading volume holds up is \"the million-dollar question,\" said Simmons & Co. analyst Jeff Dietert. Enron's trading operation has been the company's main profit engine and the major attraction for Dynegy in the acquisition deal. \nYesterday, other major energy-trading companies said they were still doing business with Enron but were closely monitoring the firm's condition. Standard & Poor's Ratings Group also reaffirmed Enron's credit ratings even though it said Monday's SEC filings \"raise liquidity issues\" for the company.\n\nCopyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved. \t\nEnron, VDEG May Bid to Export Bulgarian Electricity, Paper Says", "clipped": true, "phrase": "Enron's trading operation has been the company's main profit engine and the major attraction for Dynegy in the acquisition deal.", "path": "kitchen-l/_americas/sec_media/23."}, "s1269": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "Dynegy's biggest worry, according to the executives, is that this core business is deteriorating. The company fears that if other energy traders further curtail their business with Enron -- either on their own or in response to another cut in Enron's credit rating -- then much of the value of the company could be wiped out, they said.", "clipped": true, "phrase": "Dynegy's biggest worry, according to the executives, is that this core business is deteriorating.", "path": "kitchen-l/_americas/sec_media/16."}, "s1114": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions- 11/21/01", "text": "\"The bid by Dynegy gave (Enron) breathing space but it did not solve all their problems,\" Meade said. \nBut Duane Grubert, an analyst with Sanford C. Bernstein and Co., said, \"Dynegy will do what it needs to make sure the deal will prevail.\" \nOfficials with Enron and Dynegy, both Houston-based, said reports of trading problems were incorrect and the merger was not in trouble. \n\"We continue to do business with Enron. We are one of their largest customers and they are one of our largest customers,\" Dynegy spokesman John Sousa said. \nLate Monday, Enron filed restated third-quarter earnings that increased its loss for the period by 3 cents a share to 87 cents. The company also disclosed it is trying to restructure a $690 million obligation that could come due Nov. 27.", "clipped": true, "phrase": "Officials with Enron and Dynegy, both Houston-based, said reports of trading problems were incorrect and the merger was not in trouble.", "path": "kitchen-l/_americas/sec_media/23."}, "s1115": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions- 11/21/01", "text": "Officials with Enron and Dynegy, both Houston-based, said reports of problems with energy trading were incorrect and the merger was not in trouble. \nJohn Sousa, Dynegy spokesman, said Dynegy will stick with its dlrs 8.7 billion buyout plan. \n\"We continue to do business with Enron. We are one of their largest customers and they are one of our largest customers,\" Sousa said. \nLate Monday, Enron filed restated third-quarter earnings with the Securities and Exchange Commission that increased its loss for the period by 3 cents a share to 87 cents. \nThe company also disclosed it is trying to restructure a dlrs 690 million obligation that could come due Nov. 27.", "clipped": true, "phrase": "John Sousa, Dynegy spokesman, said Dynegy will stick with its dlrs 8.7 billion buyout plan.", "path": "kitchen-l/_americas/sec_media/23."}, "s1122": {"from": "issuealert@scientech.com", "to": "issuealerthtml@listserv.scientech.com", "subject": "Enron Continues to Implode; Will the Dynegy Deal Proceed?", "text": "s 27 percent of Dynegy. However, some traders apparently have wondered why Dynegy has not done anything about Enron's diminishing ability to secure power on the open market. Traders claim that Dynegy could step in and buy power from sellers on the behalf of Enron, in a strategy known as \"sleeving.\" The fact that Dynegy has not chosen to take this step has been an indication to some observers that it is only willing to go so far in its pursuit of Enron. \n\nIn addition, Enron shareholders launched a lawsuit on Nov. 12 in state court in Houston to prevent the merger with Dynegy from happening. The petition reportedly alleges that Enron directors breached their fiduciary duties by agreeing to sell the company at too low a price and without adequate consideration of other alternatives. Enron said it will defend its decision in court.", "clipped": true, "phrase": "The fact that Dynegy has not chosen to take this step has been an indication to some observers that it is only willing to go so far in its pursuit of Enron.", "path": "kean-s/deleted_items/422."}, "s1123": {"from": "issuealert@scientech.com", "to": "issuealerthtml@listserv.scientech.com", "subject": "Enron Continues to Implode; Will the Dynegy Deal Proceed?", "text": "As I said, the question of the hour is whether or not Enron's new problems will cause Dynegy to reconsider its offer. As usual, the answer all depends on who you ask. Dynegy is remaining mum and referring all questions about Enron's financial status to Enron. Investors are rather mixed on the question. Some say that the facts disclosed in the 10-Q report do not dramatically change Enron's position from what it was when Dynegy launched its acquisition and that the current drop in Enron's stock is just a knee-jerk response to the media hype surrounding the story. Further, those who diminish any potential impact say that Enron is still a liquid company and has money coming in from various sources. Thus,", "clipped": true, "phrase": "Dynegy is remaining mum and referring all questions about Enron's financial status to Enron.", "path": "kean-s/deleted_items/422."}, "s1249": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions- 11/26/01", "text": "Of DOW JONES NEWSWIRES\n\n11/26/2001\nDow Jones News Service\n(Copyright (c) 2001, Dow Jones & Company, Inc.)\nNEW YORK -(Dow Jones)- As the market continues to speculate about the status of Dynegy Inc.'s (DYN) takeover of Enron Corp. (ENE), Dynegy's board isn't offering its opinion. \n\"Any comments coming out of Dynegy are coming from the company's executives,\" said Jerry Johnson, a Dynegy board member who also is an executive vice president at Safeguard Scientifics Inc. (SFE).\nJohnson declined to comment on any matters related the pending acquisition of its larger rival, and wouldn't say whether the board has been meeting to discuss the transaction. \nThree other board members, through their representatives, declined to comment as well. Other non-executive directors on the 14-member board either weren't immediately available to comment or couldn't be reached.", "clipped": true, "phrase": "\"Any comments coming out of Dynegy are coming from the company's executives,\" said Jerry Johnson, a Dynegy board member who also is an executive vice president at Safeguard Scientifics Inc. (SFE).", "path": "kean-s/deleted_items/504."}, "s1128": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions- 11/21/01", "text": "Plunge Says End Is Near at Enron\nTheStreet.com, 11/21/01\n\nDYNEGY, ENRON SAY MERGER TO PROCEED\nCBS.MarketWatch.com, 11/21/01\n\nDynegy Issues Statement On Enron Merger Status\n\n11/21/2001\nBusiness Wire\n(Copyright (c) 2001, Business Wire)\nHOUSTON--(BUSINESS WIRE)--Nov. 21, 2001--Dynegy Inc. (NYSE:DYN) Chairman and CEO Chuck Watson today said he is encouraged by Enron Corp.'s report this morning that it has closed the remaining $450 million credit facility secured by the assets of Northern Natural Gas Pipeline and has received a commitment from its lead bank to extend the $690 million note payable obligation described in Enron's recent 10-Q filing. \n\"We are continuing our confirmatory due diligence and working to accelerate the regulatory approvals required to complete the merger in accordance with the previously announced agreement,\" he said.", "clipped": true, "phrase": "Chairman and CEO Chuck Watson today said he is encouraged by Enron Corp.'s report this morning that it has closed the remaining $450 million credit facility", "path": "kean-s/deleted_items/447."}, "s1139": {"from": "no.address@enron.com", "to": "mitch.robinson@enron.com, m..presto@enron.com, louise.kitchen@enron.com,   \tdavid.duran@enron.com", "subject": "FW: DYNEGY ISSUES STATEMENT ON ENRON MERGER STATUS", "text": "Sent: Wednesday, November 21, 2001 12:51 PM\nTo: Energy-Gram (E-mail)\nSubject: DYNEGY ISSUES STATEMENT ON ENRON MERGER STATUS\n\nFOR IMMEDIATE RELEASE \n\nDYNEGY ISSUES STATEMENT ON ENRON MERGER STATUS\n\nHOUSTON (Nov. 21, 2001) -- Dynegy Inc. (NYSE: DYN) Chairman and CEO Chuck Watson today said he is encouraged by Enron Corp.'s report this morning that it has closed the remaining $450 million credit facility secured by the assets of Northern Natural Gas Pipeline and has received a commitment from its lead bank to extend the $690 million note payable obligation described in Enron's recent 10-Q filing.\n\n\"We are continuing our confirmatory due diligence and working to accelerate the regulatory approvals required to complete the merger in accordance with the previously announced agreement,\" he said.", "clipped": true, "phrase": "Chairman and CEO Chuck Watson today said he is encouraged by Enron Corp.'s report this morning that it has closed the remaining $450 million credit facility secured by the assets of Northern Natural Gas Pipeline", "path": "kitchen-l/_americas/sec/7."}, "s1144": {"from": "karen.denne@enron.com", "to": "kenneth.lay@enron.com, mark.frevert@enron.com, greg.whalley@enron.com,   \tj..kean@enron.com, pr <.palmer@enron.com>, mark.koenig@enron.com,   \tjames.derrick@enron.com, rex.rogers@enron.com,   \traymond.bowen@enron.com, jeffrey.mcmahon@enron.", "subject": "Articles", "text": "Meanwhile, Dynegy also tried to rally, although somewhat halfheartedly, investors around its plan to acquire Enron's stock. Dynegy said it was encouraged by reports that Enron closed on its remaining $450 million credit facility and news of the extension of the $690 million loan. Under the terms of the acquisition, Enron holders would receive 0.2685 Dynegy share for each Enron share. \nInvestors, however, remain more circumspect, unmoved by the whopping 104% risk premium currently attached to the merger. (That's how much investors buying Enron shares would make if the deal was closing Wednesday.)", "clipped": true, "phrase": "Dynegy said it was encouraged by reports that Enron closed on its remaining $450 million credit facility and news of the extension of the $690 million loan.", "path": "kean-s/deleted_items/460."}, "s1235": {"from": "carlos.sole@enron.com", "to": "kay.mann@enron.com", "subject": "ENE", "text": "On Wednesday, Enron got a three-week reprieve from lenders on a $690 million note due this week, giving the company more time to restructure its finances. Dynegy Chief Executive Officer Chuck Watson said he was ``encouraged'' by the commitment to extend the note payment, as well as the closing of a $450 million credit facility, and that Dynegy remained committed to the merger. \n$690 Million Note \nTerms of the $690 million note were outlined for the first time in an Enron filing with the SEC a week ago. Enron also said that it has less than $2 billion in cash and credit lines left. If the company's cash reserves run too low, Enron's credit rating may be cut below investment grade. That would trigger $3.9 billion in debt repayments for two affiliated partnerships.", "clipped": true, "phrase": "Dynegy Chief Executive Officer Chuck Watson said he was ``encouraged'' by the commitment to extend the note payment, as well as the closing of a $450 million credit facility, and that Dynegy remained committed to the merger.", "path": "mann-k/deleted_items/139."}, "s1240": {"from": "kay.mann@enron.com", "to": "heather.kroll@enron.com", "subject": "FW: ENE", "text": "On Wednesday, Enron got a three-week reprieve from lenders on a $690 million note due this week, giving the company more time to restructure its finances. Dynegy Chief Executive Officer Chuck Watson said he was ``encouraged'' by the commitment to extend the note payment, as well as the closing of a $450 million credit facility, and that Dynegy remained committed to the merger. \n$690 Million Note \nTerms of the $690 million note were outlined for the first time in an Enron filing with the SEC a week ago. Enron also said that it has less than $2 billion in cash and credit lines left. If the company's cash reserves run too low, Enron's credit rating may be cut below investment grade. That would trigger $3.9 billion in debt repayments for two affiliated partnerships.", "clipped": true, "phrase": "Dynegy Chief Executive Officer Chuck Watson said he was ``encouraged'' by the commitment to extend the note payment, as well as the closing of a $450 million credit facility, and that Dynegy remained committed to the merger.", "path": "mann-k/deleted_items/144."}, "s1245": {"from": "carlos.sole@enron.com", "to": "kay.mann@enron.com", "subject": "RE: ENE", "text": "On Wednesday, Enron got a three-week reprieve from lenders on a $690 million note due this week, giving the company more time to restructure its finances. Dynegy Chief Executive Officer Chuck Watson said he was ``encouraged'' by the commitment to extend the note payment, as well as the closing of a $450 million credit facility, and that Dynegy remained committed to the merger. \n$690 Million Note \nTerms of the $690 million note were outlined for the first time in an Enron filing with the SEC a week ago. Enron also said that it has less than $2 billion in cash and credit lines left. If the company's cash reserves run too low, Enron's credit rating may be cut below investment grade. That would trigger $3.9 billion in debt repayments for two affiliated partnerships.", "clipped": true, "phrase": "Dynegy Chief Executive Officer Chuck Watson said he was ``encouraged'' by the commitment to extend the note payment, as well as the closing of a $450 million credit facility, and that Dynegy remained committed to the merger.", "path": "mann-k/deleted_items/138."}, "s1137": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions- 11/21/01", "text": "The other 550 mln usd are secured by the assets of its Transwestern Pipeline Co. \nEnron also said it is still committed to its merger with Dynegy Inc, announced on Nov 9. \n\"We continue to believe that this merger is in the best interests of our shareholders, employees, and lenders,\" said chairman and chief executive Kenneth Lay. \"It offers the opportunity to create a formidable player in the merchant energy business with substantial growth prospects and a strong financial position.\"", "clipped": true, "phrase": "Enron also said it is still committed to its merger with Dynegy Inc, announced on Nov 9.", "path": "kean-s/deleted_items/447."}, "s1227": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions -  11/23/01", "text": "Among the advisers Enron has hired during its current crisis is the law firm of Weil, Gotshal & Manges, which specializes in bankruptcy and corporate-workout situations. Asked about a possible bankruptcy filing, an Enron spokeswoman said the company expects the Dynegy deal to go through and therefore doesn't expect to have to look at alternatives to the merger. Since the merger announcement, Enron Chairman Kenneth Lay has said his company had alternatives to the Dynegy deal but he has declined to identify them. Enron said it made some progress improving its financial position. The company said it reached a final agreement with units of J.P. Morgan Chase & Co. and Citigroup Inc. on the remaining $450 million of a previously announced $1 billion in secured credit lines. Enron said lenders had agreed to e", "clipped": true, "phrase": "an Enron spokeswoman said the company expects the Dynegy deal to go through and therefore doesn't expect to have to look at alternatives to the merger.", "path": "kean-s/deleted_items/477."}, "s1167": {"from": "mbuckley@brunswickgroup.com", "to": "j..kean@enron.com", "subject": "RE: Press Release - Enron Announces Progress", "text": "Other than that, we're on hold. \n\n-----Original Message----- \nFrom: Kean, Steven J. [<mailto:steve.kean@enron.com>] \nSent: 25 November 2001 19:10 \nTo: Michael Buckley \nSubject: FW: Press Release - Enron Announces Progress \n\nThis is the release we issued last week as an update.  I will also \nforward the release we asked Dynegy to issue (they didn't) containing a \nrecommitment to the merger. \n>  -----Original Message----- \n> From:         Radford, Pat  \n> Sent: Wednesday, November 21, 2001 11:01 AM \n> Subject:      Press Release - Enron Announces Progress \n> \n>  <<112101 PressRelease-LTR.pdf>> \n\n**********************************************************************", "clipped": true, "phrase": "I will also \nforward the release we asked Dynegy to issue (they didn't) containing a \nrecommitment to the merger.", "path": "kean-s/deleted_items/459."}, "s1166": {"from": "j..kean@enron.com", "to": "mbuckley@brunswickgroup.com", "subject": "", "text": "Here is the draft forwarded to Dynegy", "clipped": false, "phrase": "Here is the draft forwarded to Dynegy", "path": "kean-s/sent_items/608."}, "s1163": {"from": "resources.human@enron.com", "to": "dl-ga-all_enron_worldwide6@enron.com", "subject": "Update to Merger Q&A", "text": "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.", "clipped": false, "phrase": "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.", "path": "kean-s/dynegy_transaction/9."}, "s1164": {"from": "resources.human@enron.com", "to": "dl-ga-all_enron_worldwide5@enron.com", "subject": "Update to Merger Q&A", "text": "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.", "clipped": false, "phrase": "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.", "path": "jones-t/inbox/1081."}, "s1165": {"from": "resources.human@enron.com", "to": "dl-ga-all_enron_worldwide2@enron.com", "subject": "Update to Merger Q&A", "text": "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.", "clipped": false, "phrase": "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.", "path": "mann-k/deleted_items/107."}, "s1219": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions - 11/22/01", "text": "Ms. Denne, the Enron spokeswoman, said that she was not aware of any attempts by Dynegy to renegotiate the deal. Dynegy issued a statement saying that its chief executive, Chuck Watson, was encouraged by the steps Enron had taken with its bankers. Mr. Watson said the company was continuing its due diligence on the deal. \nDynegy's shares, which rose as high as $46.94 in the days after the merger was announced, on Nov. 9, closed yesterday at $39.76, down more than 4 percent for the second consecutive day.", "clipped": true, "phrase": "Dynegy issued a statement saying that its chief executive, Chuck Watson, was encouraged by the steps Enron had taken with its bankers.", "path": "kitchen-l/_americas/sec_media/19."}, "s1223": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions -  11/23/01", "text": "The turmoil spilled over to Dynegy's stock, which also was among the most actively traded on the New York Stock Exchange. As of 4 p.m. Wednesday, Dynegy shares fell $1.94 to $39.76 each. \nOn Wednesday, Dynegy issued a statement in which Chairman and Chief Executive Chuck Watson said his company was working \"to accelerate the regulatory approvals required to complete the merger in accordance with the previously announced agreement\" though it continued to perform \"due diligence\" on Enron.", "clipped": true, "phrase": "On Wednesday, Dynegy issued a statement in which Chairman and Chief Executive Chuck Watson said his company was working \"to accelerate the regulatory approvals required to complete the merger in accordance with the previously announced agreement\"", "path": "kean-s/deleted_items/477."}, "s1228": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions -  11/23/01", "text": "the law firm of Weil, Gotshal & Manges, which specializes in bankruptcy and corporate-workout situations. Asked about a possible bankruptcy filing, an Enron spokeswoman said the company expects the Dynegy deal to go through and therefore doesn't expect to have to look at alternatives to the merger. Since the merger announcement, Enron Chairman Kenneth Lay has said his company had alternatives to the Dynegy deal but he has declined to identify them. Enron said it made some progress improving its financial position. The company said it reached a final agreement with units of J.P. Morgan Chase & Co. and Citigroup Inc. on the remaining $450 million of a previously announced $1 billion in secured credit lines. Enron said lenders had agreed to extend repayment of an existing $690 million note to mid-December from next week. The spokeswoman said a restructuring of that obligation is expected to b", "clipped": true, "phrase": "Since the merger announcement, Enron Chairman Kenneth Lay has said his company had alternatives to the Dynegy deal but he has declined to identify them.", "path": "kean-s/deleted_items/477."}, "s1251": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions- 11/26/01", "text": "Three other board members, through their representatives, declined to comment as well. Other non-executive directors on the 14-member board either weren't immediately available to comment or couldn't be reached. \nAs for Dynegy's management, spokesman John Sousa said the company's opinion on the deal remains the same since its last comments on Wednesday. \nAt that time, Dynegy Chairman and Chief Executive Chuck Watson said Dynegy was continuing its due diligence and was looking to accelerate regulatory approval of the deal. \nAccording to Sousa, Dynegy worked through the holiday weekend gathering information as part of its due diligence efforts.", "clipped": true, "phrase": "As for Dynegy's management, spokesman John Sousa said the company's opinion on the deal remains the same since its last comments on Wednesday.", "path": "kean-s/deleted_items/504."}, "s1183": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions - 11/26/01", "text": "An Enron spokeswoman said the company was proceeding in the belief that the deal would be completed as agreed. Dynegy spokesman John Sousa said the two sides are forging ahead although he acknowledged that the walk-away provisions \"are broad, by design, to ensure adequate protection for Dynegy shareholders.\" Shareholders of both firms must still vote on the merger agreement. \nClauses related to a \"material adverse change,\" also known as a \"material adverse effect,\" have been the focus of much attention among merger professionals this year, due, in part, to the stock market's fluctuations and the economic slowdown that have caused some buyers to reconsider planned acquisitions.", "clipped": true, "phrase": "Dynegy spokesman John Sousa said the two sides are forging ahead although he acknowledged that the walk-away provisions \"are broad, by design, to ensure adequate protection for Dynegy shareholders.\"", "path": "kean-s/deleted_items/478."}, "s1275": {"from": "elizabeth.tilney@enron.com", "to": "pr <.palmer@enron.com>, j..kean@enron.com", "subject": "Enron Corp.: Dynegy Confirms -3: Deal May Be Cut More Than 40% -WSJ", "text": "(Copyright (c) 2001, Dow Jones & Company, Inc.)\n\n  Earlier Tuesday, a report in The Wall Street Journal quoted people\nfamiliar with the matter who said Enron and Dynegy were in advanced\ndiscussions to cut the price of the all-stock transaction by more than\n40% to about $5 billion.   Sousa, the Dynegy spokesman, didn't comment\non the newspaper report.\n\n  Dynegy shares recently traded at $40, up 75 cents, or 1.9%, while\nEnron shares changed hands at $3.94, down 7 cents, or 1.7%.\n  Under the original terms of the transaction, Enron shareholders are to\nreceive 0.2685 of a Dynegy share, or $10.78, for each share outstanding,\nor about $9.14 billion, based on Dynegy's recent stock price.\n\n  According to the Journal report, the new terms could be below 0.15 of\na Dynegy share.", "clipped": true, "phrase": "Sousa, the Dynegy spokesman, didn't comment\non the newspaper report.", "path": "kean-s/deleted_items/501."}, "s1344": {"from": "peggy.mccurley@enron.com", "to": "louise.kitchen@enron.com", "subject": "An article from CBS.MarketWatch.com", "text": "arlier in the day   [IMAGE]    Dynegy, which had originally offered to buy Enron for $9 billion in stock, confirmed Tuesday that the two companies were discussing a new deal structure, and it said ahead of the credit-ratings and eventual termination news Wednesday that discussions were continuing.  \"I'm not aware of any changes in any status of the merger,\" Dynegy spokesman John Sousa said before the S&P announcement. The merger agreement contained a material adverse-affect clause that, if triggered, allowed Dynegy to walk away from the deal.  The decline in Enron's stock price and information contained in the company's 10-Q filing of Nov. 19 could had activated the clause, but Olson said the S&P downgrade clearly fit the description of a material adverse affect.   Also Wednesday, UBS Warburg and RBC Capital cut their ratings on E", "clipped": true, "phrase": "\"I'm not aware of any changes in any status of the merger,\" Dynegy spokesman John Sousa said", "path": "kitchen-l/_americas/esvl/426."}, "s1174": {"from": "pr <.palmer@enron.com>", "to": "mark.koenig@enron.com, j..kean@enron.com", "subject": "FW: Final release", "text": "this is the b.s. I've been dealing with all night.  they're still planning on a before market release.\n\nMark\n\n-----Original Message-----\nFrom: Deborah.Fiorito@dynegy.com [mailto:Deborah.Fiorito@dynegy.com]\nSent: Monday, November 26, 2001 2:53 AM\nTo: steve lipin; mpalmer@enron.com\nSubject: Final release\n\nMark and Steve,\n\nAttached is the latest approved release from us.  While I understand that\nthe banks may have an issue with Dynegy's view on the equity infusion as\nthe headline; for us, it's critical.  Affirming what we've already\ncommitted to day in and day out (including over the weekend, is a\nnon-event.\n\nFor our part, Chuck still needs to sign off after you've run this by the\nbanks.  If all goes well, we'll get this out as early as possible before\nmarket open.\n\nDebbie\n(713) 224-XXXX--home\n(713) 254-XXXX--Cell\n(713) 767-XXXX--office", "clipped": false, "phrase": "the banks may have an issue with Dynegy's view on the equity infusion as\nthe headline; for us, it's critical.", "path": "kean-s/dynegy_transaction/14."}, "s1179": {"from": "pr <.palmer@enron.com>", "to": "jeffrey.mcmahon@enron.com, raymond.bowen@enron.com, mark.koenig@enron.com,   \tj..kean@enron.com, elizabeth.tilney@enron.com, karen.denne@enron.com", "subject": "FW: Conference Call Number - If Needed", "text": "Sent: Monday, November 26, 2001 3:54 AM\nTo: Steve Lipin\nSubject: Final release\n\nDeborah Fiorito\n11/26/2001 02:52 AM\n\nTo: \"steve lipin\" <stevelipin@hotmail.com>, mpalmer@enron.com\ncc: \nbcc: \nSubject: Re: Final release\n\nMark and Steve,\n\nAttached is the latest approved release from us. While I understand that the banks may have an issue with Dynegy's view on the equity infusion as the headline; for us, it's critical. Affirming what we've already committed to day in and day out (including over the weekend, is a non-event.\n\nFor our part, Chuck still needs to sign off after you've run this by the banks. If all goes well, we'll get this out as early as possible before market open.\n\nDebbie\n(713) 224-XXXX--home\n(713) 254-XXXX--Cell\n(713) 767-XXXX--office", "clipped": true, "phrase": "Attached is the latest approved release from us. While I understand that the banks may have an issue with Dynegy's view on the equity infusion as the headline; for us, it's critical.", "path": "kean-s/dynegy_transaction/13."}, "s1175": {"from": "pr <.palmer@enron.com>", "to": "mark.koenig@enron.com, j..kean@enron.com", "subject": "FW: Final release", "text": "this is the b.s. I've been dealing with all night.  they're still planning on a before market release.\n\nMark\n\n-----Original Message-----\nFrom: Deborah.Fiorito@dynegy.com [mailto:Deborah.Fiorito@dynegy.com]\nSent: Monday, November 26, 2001 2:53 AM\nTo: steve lipin; mpalmer@enron.com\nSubject: Final release\n\nMark and Steve,\n\nAttached is the latest approved release from us.  While I understand that\nthe banks may have an issue with Dynegy's view on the equity infusion as\nthe headline; for us, it's critical.  Affirming what we've already\ncommitted to day in and day out (including over the weekend, is a\nnon-event.\n\nFor our part, Chuck still needs to sign off after you've run this by the\nbanks.  If all goes well, we'll get this out as early as possible before\nmarket open.\n\nDebbie\n(713) 224-XXXX--home\n(713) 254-XXXX--Cell\n(713) 767-XXXX--office", "clipped": false, "phrase": "For our part, Chuck still needs to sign off after you've run this by the\nbanks.", "path": "kean-s/dynegy_transaction/14."}, "s1176": {"from": "pr <.palmer@enron.com>", "to": "mark.koenig@enron.com, j..kean@enron.com", "subject": "FW: Final release", "text": "this is the b.s. I've been dealing with all night.  they're still planning on a before market release.\n\nMark\n\n-----Original Message-----\nFrom: Deborah.Fiorito@dynegy.com [mailto:Deborah.Fiorito@dynegy.com]\nSent: Monday, November 26, 2001 2:53 AM\nTo: steve lipin; mpalmer@enron.com\nSubject: Final release\n\nMark and Steve,\n\nAttached is the latest approved release from us.  While I understand that\nthe banks may have an issue with Dynegy's view on the equity infusion as\nthe headline; for us, it's critical.  Affirming what we've already\ncommitted to day in and day out (including over the weekend, is a\nnon-event.\n\nFor our part, Chuck still needs to sign off after you've run this by the\nbanks.  If all goes well, we'll get this out as early as possible before\nmarket open.\n\nDebbie\n(713) 224-XXXX--home\n(713) 254-XXXX--Cell\n(713) 767-XXXX--office", "clipped": false, "phrase": "they're still planning on a before market release.", "path": "kean-s/dynegy_transaction/14."}, "s1229": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions -  11/23/01", "text": "J. P. Morgan Chase has won some prominent assignments, like handling the revampings of troubled giants like Lucent and, more recently, Enron, the beleaguered energy trading company. \nBut while J. P. Morgan Chase is proud of serving alongside Citigroup as both lead lender and adviser to Enron on its acquisition by Dynegy, the dual role it has worked to achieve sometimes proves complicated for the bank. With Enron's shares in free fall as more information comes out about its hidden debts, J. P. Morgan Chase has been scrambling to maintain the support of other banks while simultaneously keeping the merger with Dynegy on track.", "clipped": true, "phrase": "J. P. Morgan Chase is proud of serving alongside Citigroup as both lead lender and adviser to Enron on its acquisition by Dynegy", "path": "kean-s/deleted_items/477."}, "s1189": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions - 11/26/01", "text": "Instead, Watson picked up the phone on Oct. 24 and called Enron Chairman, CEO, and longtime acquaintance Kenneth L. Lay to ask how he could help. Lay didn't respond immediately, but as Enron's stock continued to plunge and the company faced a cash squeeze, it became clear what the only realistic answer could be: Bail us out.", "clipped": true, "phrase": "Instead, Watson picked up the phone on Oct. 24 and called Enron Chairman, CEO, and longtime acquaintance Kenneth L. Lay to ask how he could help.", "path": "kean-s/deleted_items/478."}, "s1283": {"from": "carlos.sole@enron.com", "to": "kay.mann@enron.com", "subject": "RE: Look what I just found on iWon.com!", "text": "ssued a report on Enron since the company filed a quarterly report with the Securities and Exchange Commission last week announcing it had a $690 million note due this week. On Wednesday, Enron got a three-week reprieve from lenders on the $690 million note and closed on a $450 million credit line. Dynegy Chief Executive Officer Chuck Watson said he was ``encouraged'' by the developments.", "clipped": true, "phrase": "Dynegy Chief Executive Officer Chuck Watson said he was ``encouraged'' by the developments.", "path": "mann-k/deleted_items/174."}, "s1281": {"from": "carlos.sole@enron.com", "to": "kay.mann@enron.com", "subject": "RE: Look what I just found on iWon.com!", "text": "``More equity would leave Enron with a stronger balance sheet, which should reassure their trading partners,'' said Kathleen Vuchetich, who helps manage $1.4 billion in assets at the Strong American Utilities Fund. Vuchetich has 4.2 percent of her portfolio invested in Dynegy shares. \n\nEnron and Dynegy discussed revising the terms of their merger over the weekend, said Steve Stengel, spokesman for Dynegy. Dynegy is now talking about paying less than 0.15 share for each of Enron's, valuing the company's equity at about $5 billion, or less than $6 per share, the Wall Street Journal reported, citing people close to the discussions. \n\nTerms \n\n``The concern is that the Dynegy deal breaks down,'' said Paul Tice, co-head of U.S. high-grade credit research who covers the energy market for Deutsche Bank.", "clipped": true, "phrase": "Enron and Dynegy discussed revising the terms of their merger over the weekend, said Steve Stengel, spokesman for Dynegy.", "path": "mann-k/deleted_items/174."}, "s1336": {"from": "peggy.mccurley@enron.com", "to": "louise.kitchen@enron.com", "subject": "An article from CBS.MarketWatch.com", "text": "nce call that it had to \"protect\" its shareholders, Dynegy announced it had terminated its agreement with Enron, citing \"Enron's breaches of representations, warranties, covenants and agreements in the merger agreement, including the material adverse change provision.\"   Company-specific problems?  Dynegy Chairman and Chief Executive Chuck Watson said: \"some of the best deals are the ones that don't get done.\"   \"While it is regrettable to see a leading industry player in difficulties, this does not reflect a failure of the energy merchant business,\" he said.   Dynegy President and Chief Operating Officer Steve Bergstrom said that energy traders have had weeks to prepare for Enron's diminished role in the business and that the industry has suffered \"no degradation,\" as he put it.  \"There has been a clear flight to quality, and it's occurring as we spe", "clipped": true, "phrase": "Dynegy Chairman and Chief Executive Chuck Watson said: \"some of the best deals are the ones that don't get done.\"", "path": "kitchen-l/_americas/esvl/426."}, "s1357": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions- 11/28/01", "text": "purchase Enron's Northern Natural Gas pipeline. Dynegy received\nthe right to do so in exchange for an investment of $1.5 billion\nin Enron by ChevronTexaco Corp., which owns one quarter of Dynegy.\nThe unit operates 16,500 miles of natural gas pipeline.\n\n     ``Sometimes the best deals are the ones you do not do,'' said\nWatson, who two weeks earlier had sealed the acquisition over\ncoffee and muffins in the kitchen of Enron CEO Ken Lay's Houston\nhome. ``We felt we had no choice but to act to protect our\nshareholders' interest,'' Watson said.\n\n     As the news of Dynegy's rejection flashed across computer\nscreens on Enron's trading floor in Houston, some employees\nstarted to abandon their desks and leave the office, an Enron\ntrader said. Several workers said they expect the company to begin\nfiring workers tomorrow to prepare for bankruptcy.", "clipped": true, "phrase": "``Sometimes the best deals are the ones you do not do,'' said\nWatson, who two weeks earlier had sealed the acquisition over\ncoffee and muffins in the kitchen of Enron CEO Ken Lay's Houston\nhome.", "path": "kitchen-l/_americas/sec_media/11."}, "s700": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions", "text": "Securities and Exchange Commission investigation into the\npartnerships, the people said.\n\n      The boards of the three companies were meeting today on the\nproposed transaction, the people said. Dynegy and Enron, rival\nHouston energy trading firms, haven't agreed on a price, the\npeople said. Dynegy is proposing a stock swap with a modest\npremium while Enron is holding out for more, the people said.\n\n     ``If history is any guide, Dynegy is stingy when it comes to\nacquisitions, so I don't expect them to do anything stupid'' such\nas overpaying for Enron, said UBS Warburg LLC analyst James\nYanello. ``A deal could provide Dynegy with tremendous\nopportunity.''\n\n     Dynegy would gain an established wholesale energy business,\nthe leading energy manager for commercial and small-industrial", "clipped": true, "phrase": "Dynegy is proposing a stock swap with a modest\npremium while Enron is holding out for more, the people said.", "path": "kitchen-l/_americas/sec_media/45."}, "s726": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions", "text": "Sources told Reuters that the two Texas rivals, whose headquarters are a few blocks apart in downtown Houston, were talking about a stock swap with a moderate premium for shareholders and a $1.5 billion capital infusion from ChevronTexaco Corp., which owns 26.5 percent of Dynegy. \nThe stock swap is valued at about $8 billion, or about $10 a share, The New York Times reported on Thursday. \nA merger would catapult Dynegy to the top of the energy trading industry now dominated by Enron. Last year, the company had $29 billion in revenues, compared to $100 billion for Enron. \nFor Enron, it would cap an astonishingly rapid fall from grace.", "clipped": true, "phrase": "were talking about a stock swap with a moderate premium for shareholders and a $1.5 billion capital infusion from ChevronTexaco Corp., which owns 26.5 percent of Dynegy", "path": "kitchen-l/_americas/sec_media/43."}, "s699": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions", "text": "(Updates with closing share prices.)\n\n      Houston, Nov. 7 (Bloomberg) -- Dynegy Inc. is in talks to\nbuy Enron Corp. as Enron faces a cash crunch and loss of investor\nconfidence over its dealings with partnerships controlled by a top\nexecutive, people familiar with the situation said.\n\n      ChevronTexaco Corp., which owns about 27 percent of Dynegy,\nis considering adding $1.5 billion to the deal to help Enron,\nwhose stock and credit ratings declined in the wake of a\nSecurities and Exchange Commission investigation into the\npartnerships, the people said.\n\n      The boards of the three companies were meeting today on the\nproposed transaction, the people said. Dynegy and Enron, rival\nHouston energy trading firms, haven't agreed on a price, the\npeople said. Dynegy is proposing a stock swap with a modest", "clipped": true, "phrase": "ChevronTexaco Corp., which owns about 27 percent of Dynegy,\nis considering adding $1.5 billion to the deal to help Enron", "path": "kitchen-l/_americas/sec_media/45."}, "s701": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions", "text": "marketer, fell $3 to $33. Enron, whose stock has plunged 89\npercent this year, fell 62 cents to $9.05 in trading of 111\nmillion shares, almost eight times the daily average for the past\nthree months. ChevronTexaco shares rose 48 cents to $87.28.\n\n     The companies agreed on a breakup fee providing Dynegy with\nabout $400 million if Enron accepts a higher offer, one person\nsaid.\n\n                         Partnership Probe\n\n     ChevronTexaco spokesman Fred Gorell declined to comment.\nEnron spokesman Mark Palmer and Dynegy spokesman Steve Stengel\nalso declined to comment.\n\n     ``We would be very surprised if Dynegy buys the whole\ncompany,'' said Tim Ghriskey, president of Ghriskey Capital\nPartners, which doesn't own Enron or Dynegy shares.\n\n     ``All the (Dynegy) board has to do is look at what's", "clipped": true, "phrase": "The companies agreed on a breakup fee providing Dynegy with\nabout $400 million if Enron accepts a higher offer, one person\nsaid.", "path": "kitchen-l/_americas/sec_media/45."}, "s705": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "By Robin Sidel and Rebecca Smith\nStaff Reporters of The Wall Street Journal\n\n11/08/2001\nThe Wall Street Journal\nA3\n(Copyright (c) 2001, Dow Jones & Company, Inc.)\n\nDynegy Inc., the Houston-based energy trading and power company, was attempting to strike a deal yesterday evening to buy Enron Corp., its beleaguered hometown rival, for roughly $7 billion to $8 billion in stock, one-tenth of what Enron was worth 15 months ago.", "clipped": true, "phrase": "was attempting to strike a deal yesterday evening to buy Enron Corp., its beleaguered hometown rival, for roughly $7 billion to $8 billion in stock", "path": "kitchen-l/_americas/sec_media/44."}, "s729": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "The disclosure, contained in a Securities and Exchange Commission filing, came even as the Houston energy-trading company continued its merger talks with rival Dynegy Inc. Dynegy, an independent power producer and utility owner, is looking at acquiring Enron for roughly $7 billion to $8 billion, people familiar with the talks say. However, those talks could also be influenced by whether Enron is further downgraded by major credit-ratings agencies.", "clipped": true, "phrase": "Dynegy, an independent power producer and utility owner, is looking at acquiring Enron for roughly $7 billion to $8 billion, people familiar with the talks say.", "path": "kitchen-l/_americas/sec_media/42."}, "s711": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "Copyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved. \t\n\nBusiness/Financial Desk; Section C\nDynegy Is Said to Be Near to Acquiring Enron for $8 Billion\nBy RICHARD A. OPPEL Jr. and ANDREW ROSS SORKIN\n\n11/08/2001\nThe New York Times\nPage 1, Column 2\nc. 2001 New York Times Company\n\nThe board of Dynegy Inc. tentatively approved a deal last night to acquire the Enron Corporation, the once-mighty energy-trading company laid low by a financial crisis and government investigation, executives close to the transaction said.", "clipped": true, "phrase": "The board of Dynegy Inc. tentatively approved a deal last night to acquire the Enron Corporation", "path": "kitchen-l/_americas/sec_media/44."}, "s730": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "The boards of the two companies tentatively agreed late Wednesday night to a deal in which Dynegy would acquire Enron for about $8 billion in stock, or roughly $10 a share. \nThe deal would include an initial $1.5 billion cash infusion from ChevronTexaco, which owns 27 percent of Dynegy, and later an additional infusion of $1 billion. \nThe sticking point to proceeding with the deal, according to the executives, is whether Enron's credit rating will be reduced to ''junk'' status by the major credit rating agencies in reaction to Enron's disclosures and its plan to be acquired by Dynegy.", "clipped": true, "phrase": "The boards of the two companies tentatively agreed late Wednesday night to a deal in which Dynegy would acquire Enron for about $8 billion in stock, or roughly $10 a share.", "path": "kitchen-l/_americas/sec_media/42."}, "s712": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "As part of the acquisition, Dynegy would be taking on Enron's $12.8 billion debt load -- a number that does not include billions of dollars of other debt, accumulated off the balance sheet, that has played a major role in Enron's current problems. The executives said they expected the deal would lead to the sale of some Enron assets to pay down the $12.8 billion debt.", "clipped": true, "phrase": "Dynegy would be taking on Enron's $12.8 billion debt load", "path": "kitchen-l/_americas/sec_media/44."}, "s783": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions - 11/09/01-11/10/01", "text": "Buying Enron at a deep discount -- it has lost $60 billion in market value this year -- could make Dynegy the dominant trader of electricity and natural gas. But the agreement carries big risks as well. Along with Enron's gas pipelines and high-technology trading floor, Dynegy will take on Enron's substantial debt and a web of complex transactions that Enron has spun over the last decade. \nIn addition to the $13 billion in debt that Enron carries on its books, it has guaranteed at least $4 billion in off-balance sheet loans, and the hidden debt could total as much as $10 billion, said Carol Coale, a stock analyst with Prudential Securities.", "clipped": true, "phrase": "Along with Enron's gas pipelines and high-technology trading floor, Dynegy will take on Enron's substantial debt and a web of complex transactions that Enron has spun over the last decade.", "path": "kitchen-l/_americas/sec_media/40."}, "s706": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "Because any merger of the two would likely be scrutinized for many months and Enron needs to shore up its beleaguered finances now, Dynegy also is expected to inject an additional $1.5 billion into Enron immediately, people familiar with the matter said. ChevronTexaco Corp., which owns a 26% stake in Dynegy, is expected to provide Dynegy with the funds for the cash infusion and is playing a significant role in the negotiations. ChevronTexaco then will inject an additional $1 billion into the combined company once the deal is concluded so that its stake in Dynegy isn't substantially reduced and so the combined company has a healthy balance sheet.", "clipped": true, "phrase": "Dynegy also is expected to inject an additional $1.5 billion into Enron immediately, people familiar with the matter said. ChevronTexaco Corp., which owns a 26% stake in Dynegy, is expected to provide Dynegy with the funds for the cash infusion", "path": "kitchen-l/_americas/sec_media/44."}, "s708": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "In exchange for the immediate capital infusion, Dynegy is expected to get convertible preferred stock. In that type of deal, an investor receives a safe, bondlike interest payment and then can convert that holding into common stock after the share price rises to a specified level. Enron also had been soliciting interest from private equity firms, but any discussions with those parties were proceeding on a slower track.", "clipped": true, "phrase": "In exchange for the immediate capital infusion, Dynegy is expected to get convertible preferred stock.", "path": "kitchen-l/_americas/sec_media/44."}, "s731": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "The boards of the two companies tentatively agreed late Wednesday night to a deal in which Dynegy would acquire Enron for about $8 billion in stock, or roughly $10 a share. \nThe deal would include an initial $1.5 billion cash infusion from ChevronTexaco, which owns 27 percent of Dynegy, and later an additional infusion of $1 billion. \nThe sticking point to proceeding with the deal, according to the executives, is whether Enron's credit rating will be reduced to ''junk'' status by the major credit rating agencies in reaction to Enron's disclosures and its plan to be acquired by Dynegy.", "clipped": true, "phrase": "The deal would include an initial $1.5 billion cash infusion from ChevronTexaco, which owns 27 percent of Dynegy, and later an additional infusion of $1 billion.", "path": "kitchen-l/_americas/sec_media/42."}, "s747": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions", "text": "Some usually talkative Wall Street bank sources refuse to say a word about Enron or Dynegy, even off the record. Wall Street may be biting its collective lip in the hopes that Dynegy signs the contracts to buy Enron and brings in a critical injection of cash. That cash would come from ChevronTexaco Corp. (CVX), which owns about a quarter of Dynegy. According to the Wall Street Journal, the terms of the deal call for ChevronTexaco to inject $1.5 billion immediately and another $1 billion into the combined companies if the deal goes through. \nWall Street holds billions in Enron debt, which Dynegy is fully aware of. But Dynegy might be getting more than it's bargaining for, particularly regarding Enron's numerous obligations to deliver its own shares in the future at minimum values.", "clipped": true, "phrase": "That cash would come from ChevronTexaco Corp. (CVX), which owns about a quarter of Dynegy.", "path": "kitchen-l/_americas/sec_media/41."}, "s753": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions", "text": "The stock, which has plummeted 89 percent this year, moved into the black on Friday after Enron confirmed talks regarding the acquisition of Enron by Dynegy are continuing. \nAn announcement, which is expected later Friday, is expected to include a $1.5 billion injection of capital for Enron from ChevronTexaco Corp., the No. 2 U.S. oil company, and 26.5 percent holder of Dynegy. \nShares of Enron rose 40 cents, or 4.8 percent, to $8.81 in afternoon trade on the New York Stock Exchange, and Dynegy gained $2.92, or 8 percent, to $39.42. The stock was the most actively traded on the NYSE. \nRESTATED RESULTS", "clipped": true, "phrase": "ChevronTexaco Corp., the No. 2 U.S. oil company, and 26.5 percent holder of Dynegy", "path": "kitchen-l/_americas/sec_media/41."}, "s757": {"from": "chairman.ken@enron.com", "to": "dl-ga-all_enron_worldwide2@enron.com", "subject": "Enron Announces Plans to Merge with Dynegy", "text": "--\tChevronTexaco owns approximately 26 percent of Dynegy's outstanding common stock.  ChevronTexaco will invest $1.5 billion in Dynegy immediately and an additional $1 billion in Dynegy on closing of the merger.  Dynegy will immediately invest $1.5 billion in cash in Enron's Northern Natural Gas subsidiary in exchange for preferred stock in Northern Natural Gas.\n--   Total outstanding shares of the combined company are expected to be approximately 700 million shares.\n--   The transaction is subject to shareholder and regulatory approvals, and is expected to close late next year.\n\nEnron will have immediate access to Dynegy's $1.5 billion cash investment in Enron's Northern Natural Gas subsidiary.\n\nManagement of Newly Formed Company", "clipped": true, "phrase": "Dynegy will immediately invest $1.5 billion in cash in Enron's Northern Natural Gas subsidiary in exchange for preferred stock in Northern Natural Gas.", "path": "mann-k/inbox/278."}, "s758": {"from": "chairman.ken@enron.com", "to": "dl-ga-all_enron_worldwide2@enron.com", "subject": "Enron Announces Plans to Merge with Dynegy", "text": "--\tThe transaction will constitute a stock for stock exchange based on an exchange ratio of 0.2685 Dynegy shares for every Enron share.  For example, each 1,000 shares of Enron stock will be converted to 268 shares of Dynegy upon closing, plus cash for fractional shares, upon closing.\n--\tChevronTexaco owns approximately 26 percent of Dynegy's outstanding common stock.  ChevronTexaco will invest $1.5 billion in Dynegy immediately and an additional $1 billion in Dynegy on closing of the merger.  Dynegy will immediately invest $1.5 billion in cash in Enron's Northern Natural Gas subsidiary in exchange for preferred stock in Northern Natural Gas.\n--   Total outstanding shares of the combined company are expected to be approximately 700 million shares.\n--   The transaction is subject to shareholder and regulatory approvals, and is expected to close late next year.", "clipped": true, "phrase": "ChevronTexaco owns approximately 26 percent of Dynegy's outstanding common stock.  ChevronTexaco will invest $1.5 billion in Dynegy immediately", "path": "mann-k/inbox/278."}, "s790": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions - 11/09/01-11/10/01", "text": "To shore up Enron's finances, Dynegy will immediately put $1.5 billion into Enron through ChevronTexaco, the giant oil company, which already owns 27 percent of Dynegy. Another billion dollars will be injected once the deal is completed. \nInvestors appeared comfortable yesterday that Dynegy could make the deal work. After falling $3, to $33, on Wednesday, when the companies first said they were in discussions, Dynegy rose $5.76 on Thursday and yesterday to close the week at $38.76.", "clipped": true, "phrase": "To shore up Enron's finances, Dynegy will immediately put $1.5 billion into Enron through ChevronTexaco, the giant oil company, which already owns 27 percent of Dynegy. Another billion dollars will be injected once the deal is completed.", "path": "kitchen-l/_americas/sec_media/40."}, "s827": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions", "text": "The deal envisions quickly pumping $1.5-billion of cash into Enron to bolster its liquidity and comfort Enron's trading partners who are increasingly nervous about continuing their business. The funds will come from ChevronTexaco Corp., Dynegy's biggest shareholder with a 26-per-cent stake. Dynegy will use the money to purchase the preferred stock and other rights in an Enron pipeline subsidiary.\n\nCopyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved. \t\n\nCOMPANIES & FINANCE THE DYNEGY/ENRON DEAL - Utilities in bid for project stake.\nBy KHOZEM MERCHANT.\n\n11/12/2001\nFinancial Times\n(c) 2001 Financial Times Limited . All Rights Reserved\nTata Power and BSES have offered about half the sum demanded for a majority shareholding in a controversial Indian power project beset by political problems.", "clipped": true, "phrase": "The funds will come from ChevronTexaco Corp., Dynegy's biggest shareholder with a 26-per-cent stake. Dynegy will use the money to purchase the preferred stock and other rights in an Enron pipeline subsidiary.", "path": "kitchen-l/_americas/sec_media/38."}, "s746": {"from": "matthew.lenhart@enron.com", "to": "hal.lenhart@apollogrp.edu", "subject": "RE:", "text": "they inked the deal.  dynegy has aquired us.\n\n -----Original Message-----\nFrom: \tHal Lenhart <Hal.Lenhart@apollogrp.edu>@ENRON  \nSent:\tFriday, November 09, 2001 9:03 AM\nTo:\tLenhart, Matthew\nSubject:\tRE:\n\nWell, hang in there. We are all thinking about you. Wish you could come\nhome. Talk to you soon.\n\n-----Original Message-----\nFrom: Matthew.Lenhart@enron.com [mailto:Matthew.Lenhart@enron.com]\nSent: Friday, November 09, 2001 7:59 AM\nTo: Hal.Lenhart@apollogrp.edu\nSubject: RE:", "clipped": true, "phrase": "they inked the deal.  dynegy has aquired us.", "path": "lenhart-m/sent_items/806."}, "s756": {"from": "chairman.ken@enron.com", "to": "dl-ga-all_enron_worldwide2@enron.com", "subject": "Enron Announces Plans to Merge with Dynegy", "text": "Deal Terms\n\n--\tThe transaction will constitute a stock for stock exchange based on an exchange ratio of 0.2685 Dynegy shares for every Enron share.  For example, each 1,000 shares of Enron stock will be converted to 268 shares of Dynegy upon closing, plus cash for fractional shares, upon closing.", "clipped": true, "phrase": "The transaction will constitute a stock for stock exchange based on an exchange ratio of 0.2685 Dynegy shares for every Enron share.", "path": "mann-k/inbox/278."}, "s794": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions - 11/09/01-11/10/01", "text": "Dynegy and Enron had provided Standard & Poor's and Moody's Investors Service, the main credit agencies, with statements showing them what a combined company might look like and asked the ratings agencies for an expedited review of the transaction, Mr. Watson said. \nUnder the deal, Enron shareholders will receive 0.2685 share of Dynegy stock for each Enron share, or $9.80 based on Dynegy's closing price on Thursday. Enron's stock gained 22 cents yesterday, to $8.63. \n''I never thought our stock price would be at this level,'' Mr. Lay said yesterday. \nEnron's shareholders will own only 36 percent of the combined company, and Dynegy will name at least 11 members of the company's 14-member board. \nIf the deal falls apart, Enron or Dynegy will have to pay a breakup fee of $350 million.", "clipped": true, "phrase": "Under the deal, Enron shareholders will receive 0.2685 share of Dynegy stock for each Enron share, or $9.80 based on Dynegy's closing price on Thursday.", "path": "kitchen-l/_americas/sec_media/40."}, "s815": {"from": "hemery@firstunion1.com", "to": "undisclosed-recipients@enron.com", "subject": "Dynegy/Enron-CS First Boston Research", "text": "Philip Salles       212/538-XXXX     philip.salles@csfb.com\nAndy DeVries        212/325-XXXX     andy.devries@csfb.com\n\nSTRONG BUY\nTarget Price: 54.00 (US$)\nDynegy Inc. (DYN)\nENE Deal Shows Risk Coverage & Est & Valuation Upside\n\nSummary\n\nAfter the close on Friday, DYN confirmed that it would acquire Enron (ENE, 8.63,\nStrong Buy) for 0.2685 DYN shares plus assumption of debt and an equity infusion\nof $2.5 billion. This values ENE at $10.40 per share based on DYN's Friday\nclose.\n\nOur initial analyses show the merger to be additive to pro-forma '02 eps for DYN\nby 25% to $3.25-$3.30 vs our current estimate of $2.55. We estimate the deal\nmultiples as about 7x '02 eps, 3.2x '02 cash flow, 0.85x book value and 5x\nEV/EBITDA based on our revised '02 estimates for ENE.\n\nWe would note that DYN has projected a pro-forma '02 of $3.40-$3.50 per share", "clipped": true, "phrase": "DYN confirmed that it would acquire Enron (ENE, 8.63,\nStrong Buy) for 0.2685 DYN shares plus assumption of debt and an equity infusion\nof $2.5 billion.", "path": "kean-s/dynegy_transaction/3."}, "s869": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "Under terms of the proposed acquisition, Dynegy would give 0.2685 of its shares for each Enron share. Based on Dynegy's stock price yesterday , this formula values Enron stock at $11.90 each. Enron has about 850 million shares outstanding.", "clipped": true, "phrase": "Under terms of the proposed acquisition, Dynegy would give 0.2685 of its shares for each Enron share.", "path": "kitchen-l/_americas/sec_media/36."}, "s760": {"from": "chairman.ken@enron.com", "to": "dl-ga-all_enron_worldwide2@enron.com", "subject": "Enron Announces Plans to Merge with Dynegy", "text": "--   Total outstanding shares of the combined company are expected to be approximately 700 million shares.\n--   The transaction is subject to shareholder and regulatory approvals, and is expected to close late next year.\n\nEnron will have immediate access to Dynegy's $1.5 billion cash investment in Enron's Northern Natural Gas subsidiary.\n\nManagement of Newly Formed Company\n\nChuck Watson will be chairman and CEO of the newly formed company, which will be called Dynegy Inc., and Steve Bergstrom will be president and COO.", "clipped": true, "phrase": "Total outstanding shares of the combined company are expected to be approximately 700 million shares.", "path": "mann-k/inbox/278."}, "s734": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "The executives also said Dynegy was seeking further protections that would allow it to back out of the deal if new, adverse disclosures surfaced.", "clipped": true, "phrase": "Dynegy was seeking further protections that would allow it to back out of the deal if new, adverse disclosures surfaced.", "path": "kitchen-l/_americas/sec_media/42."}, "s766": {"from": "karen.denne@enron.com", "to": "kenneth.lay@enron.com, mark.frevert@enron.com, jeffrey.mcmahon@enron.com,   \trick.buy@enron.com, richard.causey@enron.com,   \tjames.derrick@enron.com, j..kean@enron.com, mark.koenig@enron.com,   \twes.colwell@enron.com, paula.rieker@enron.co", "subject": "Merger News Articles", "text": "Rival to Buy Enron, Top Energy Trader, After Financial Fall\nBy ALEX BERENSON and ANDREW ROSS SORKIN\n\n11/10/2001\nThe New York Times \nPage 1, Column 2\nc. 2001 New York Times Company \n\nWith its stock plunging and its finances in doubt, the world's largest energy trader, the Enron Corporation, agreed to be acquired yesterday by the rival Dynegy Inc. for about $9 billion in stock and the assumption of $13 billion in debt. \n\nThe deal is an extraordinary turnabout for Enron, a Houston-based company that had been a driving force behind electricity deregulation nationwide.", "clipped": true, "phrase": "agreed to be acquired yesterday by the rival Dynegy Inc. for about $9 billion in stock and the assumption of $13 billion in debt.", "path": "kitchen-l/_americas/sec/19."}, "s778": {"from": "chip.schneider@enron.com", "to": "louise.kitchen@enron.com, f..calger@enron.com, david.duran@enron.com,   \tl..barbour@enron.com, rick.bittner@enron.com,   \tkortney.brown@enron.com, andre.cangucu@enron.com,   \tbecky.caudle@enron.com, wendy.conwell@enron.com,   \tlacrecia.dave", "subject": "FW: CSFB IPP Weekly: DYN/ENE Deal Mitigates Overhang; MIR   MeetingPre view; New Regional Spark Spread Analysis", "text": "performer in the group.  Cleco Corp was the weakest performer, improving\n3.4%.\n\n3. DYN/ENE Deal Removes Overhang   We attribute last week's strong\nperformance to indications of an imminent resolution to Enron's financial\ndifficulties in the form of an investment from Dynegy.  Late on Friday,\nthese reports proved true with Dynegy agreeing to acquire Enron and provide\nimmediate liquidity support.  Over the last few weeks, the group came under\npressure owing to concerns about Enron's deteriorating credit quality.  In\nparticular, IPP investors were concerned about the level of receivables\nexposure of various companies to Enron.  Further, some industry observers\nsuggested that a damaging reduction in trading liquidity could result if\nEnron were forced to withdraw from the natural gas and power markets.", "clipped": true, "phrase": "Late on Friday,\nthese reports proved true with Dynegy agreeing to acquire Enron and provide\nimmediate liquidity support.", "path": "kitchen-l/_americas/esvl/573."}, "s780": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions - 11/09/01-11/10/01", "text": "PR Newswire, 11/09/01\n\nBusiness/Financial Desk; Section A\nRival to Buy Enron, Top Energy Trader, After Financial Fall\nBy ALEX BERENSON and ANDREW ROSS SORKIN\n\n11/10/2001\nThe New York Times\nPage 1, Column 2\nc. 2New York Times Company\n\nWith its stock plunging and its finances in doubt, the world's largest energy trader, the Enron Corporation, agreed to be acquired yesterday by the rival Dynegy Inc. for about $9 billion in stock and the assumption of $13 billion in debt. \nThe deal is an extraordinary turnabout for Enron, a Houston-based company that had been a driving force behind electricity deregulation nationwide.", "clipped": true, "phrase": "the world's largest energy trader, the Enron Corporation, agreed to be acquired yesterday by the rival Dynegy Inc. for about $9 billion in stock and the assumption of $13 billion in debt.", "path": "kitchen-l/_americas/sec_media/40."}, "s804": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions - 11/11/01", "text": "Senate stimulus bill slammed as grab bag of special interests\nHouston Chronicle, 11/11/01\n\nWeek in Review Desk; Section 4\nNovember 4-10\nEnron, a Giant Bargain\nBy Richard A Oppel Jr.\n\n11/11/2001\nThe New York Times\nPage 2, Column 3\nc. 2001 New York Times Company\n\nWith its principal business in peril, Enron agreed to be acquired by Dynegy for $9 billion -- one-ninth what it was worth last year. Enron, of Houston, used political muscle and trading-floor savvy to create new markets for electricity and gas and become the nation's dominant energy trader. Yet its refusal to explain its finances caught up to it last month, when investors fled after disclosure of an S.E.C. probe and an unusual $1.2 billion reduction in shareholder equity. After it admitted overstating profits by $600 million, other energy companies began to shun Enron, puttin", "clipped": true, "phrase": "With its principal business in peril, Enron agreed to be acquired by Dynegy for $9 billion -- one-ninth what it was worth last year.", "path": "kitchen-l/_americas/sec_media/39."}, "s806": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions - 11/11/01", "text": "News Shipbuilding NYSE: NNS The company agreed to a $2.1 billion takeover by Northrop Grumman, a rival military contractor. Northrop will acquire the outstanding shares for $67.50 each and assume $500 million of debt. Friday's Close: $67.95 Week's Change: -2.09% EST. '01 P/E: 20.75 Dynegy NYSE: DYN Dynegy has agreed to acquire Enron, a rival energy trading company, in a deal valued at about $9 billion. It also includes the assumption of around $13 billion in Enron debt. Friday's Close: $38.76 Week's Change: +15.87% EST. '01 P/E: 18.52 Palm NNM: Palm The hand-held computer maker said that its chief executive, Carl J. Yankowski, had resigned. The departure comes after a year of missteps, including product delays and inventory buildups. Friday's Close: $2.65 Week's Change: +14.22% EST. '01 P/E: -- H. J. Heinz NYSE: HNZ Citing a slowdown in its food-service business, the company lowered its profit targets for the s", "clipped": true, "phrase": "Dynegy has agreed to acquire Enron, a rival energy trading company, in a deal valued at about $9 billion. It also includes the assumption of around $13 billion in Enron debt.", "path": "kitchen-l/_americas/sec_media/39."}, "s829": {"from": "issuealert@scientech.com", "to": "issuealerthtml@listserv.scientech.com", "subject": "Dynegy and Enron Announce Merger", "text": "<http://secure.scientech.com/_IA_TEST/Corner_BL.jpg>\t\t  <http://secure.scientech.com/_IA_TEST/Corner_BR.jpg>\t\n\nNovember 12, 2001\n\nDynegy and Enron\nAnnounce Merger \n\nBy Will McNamara\nDirector, Electric Industry Analysis\n\n[News item from Reuters] Dynegy Inc. (NYSE: DYN) agreed on Nov. 9 to acquire rival Enron Corp. (NYSE: ENE) for some $9 billion in stock, underlining the dramatic reversal of fortunes for the Houston-based energy trading giant that was valued last year at nearly $80 billion. Enron's stock fell sharply in the past month due to investors' concerns about murky transactions that sparked an investigation by U.S. regulators and damaging downgrades by credit rating agencies. The merged company will retain the Dynegy name. It will have annual revenues of more than $200 billion and assets", "clipped": true, "phrase": "Dynegy Inc. (NYSE: DYN) agreed on Nov. 9 to acquire rival Enron Corp. (NYSE: ENE) for some $9 billion in stock", "path": "kean-s/dynegy_transaction/4."}, "s888": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "Enron is the largest natural gas and electricity trader in the nation, accounting for about 25 percent of all transactions. Its collapse would have meant the loss of much liquidity in the trading market, making trades more difficult and prices more volatile, industry experts said. \nDynegy announced a deal Friday to buy Enron at a fire-sale price of almost $9 billion in stock, plus the assumption of about $13 billion in debt and $2 billion in preferred stock. The merger is expected to close, barring holdups from regulators, in six to nine months. \nAs part of the agreement, Dynegy stakeholder ChevronTexaco is giving Dynegy $1.5 billion, which is to be infused today to help shore up Enron's liquidity and preserve its trading franchise. \nSome of Enron's former trading partners are still steering clear of the giant.", "clipped": true, "phrase": "Dynegy announced a deal Friday to buy Enron at a fire-sale price of almost $9 billion in stock, plus the assumption of about $13 billion in debt and $2 billion in preferred stock.", "path": "kitchen-l/_americas/sec_media/36."}, "s808": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions - 11/11/01", "text": "Staff\n\n11/11/2001\nHouston Chronicle\n4 STAR\n2\n(Copyright 2001)\n\nLast spring, Enron Chairman Ken Lay told a leadership forum at the University of Houston that his goal was to make Enron the No. 1 company in the world. Six months later, Enron was fighting for its life. In a $7.8 billion stock deal struck Friday, Enron will cease to exist as its operations are folded into rival Houston energy firm Dynegy. \nEnron, in recent years one of Houston's most important corporations, did not reach this pass because its ambitions were too high. Unlike the mythical Icarus, Enron did not fly too near the sun, melting the wax of its wings.\nEnron's troubles came because some of its top executives chose to do much of their piloting under cover of darkness. In the process, they lost their way.", "clipped": true, "phrase": "In a $7.8 billion stock deal struck Friday, Enron will cease to exist as its operations are folded into rival Houston energy firm Dynegy.", "path": "kitchen-l/_americas/sec_media/39."}, "s811": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions - 11/11/01", "text": "It's a tough new world for energy companies that will bring profit opportunities for some and acquisitions of low-priced players, analysts say. Enron, once the most brash of the energy peddlers, has agreed to be acquired by archrival Dynegy Inc. in a $7.7-billion stock deal. \nYet when the economy and power prices improve, energy companies will see their prospects gleam again, analysts say. \n\"Deregulation is a train that's not going to be derailed. It may be delayed, but it's coming,\" said Jon Kyle Cartwright, senior energy analyst with brokerage firm Raymond James & Associates.", "clipped": true, "phrase": "Enron, once the most brash of the energy peddlers, has agreed to be acquired by archrival Dynegy Inc. in a $7.7-billion stock deal.", "path": "kitchen-l/_americas/sec_media/39."}, "s868": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "By John R. Emshwiller\nStaff Reporter of The Wall Street Journal\n\n11/13/2001\nThe Wall Street Journal\nA4\n(Copyright (c) 2001, Dow Jones & Company, Inc.)\n\nThe shares of Enron Corp. and Dynegy Inc. both rose in heavy trading as investors began trying to digest the possible risks and rewards of Dynegy's plan to acquire Enron in a stock swap with a current value of $10.12 billion. \nIn calls and meetings with analysts yesterday, Dynegy Chairman Chuck Watson and Enron Chairman Kenneth Lay continued talking up the deal that was announced late Friday. \"We are confident this is good strategically and financially for Dynegy and Enron,\" said Mr. Watson, who will serve as chairman and chief executive of the combined entity, to be called Dynegy Inc.", "clipped": true, "phrase": "Dynegy's plan to acquire Enron in a stock swap with a current value of $10.12 billion", "path": "kitchen-l/_americas/sec_media/36."}, "s822": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions", "text": "JOHN EMSHWILLER and REBECCA SMITH\nWall Street Journal\n\n11/12/2001\nThe Globe and Mail\nMetro\nB8\n\"All material Copyright (c) Bell Globemedia Publishing Inc. and its licensors. All rights reserved.\"\nDynegy Inc.'s proposed $8.85-billion (U.S.) takeover of Enron Corp. faces major uncertainties, ranging from possible opposition from regulators to potentially huge new liabilities and writeoffs at Enron. \nThe problem with regulators could come from antitrust worries about folding Houston-based Enron, the biggest U.S. trader of natural gas and electricity, into Dynegy, another major energy trader, also based in Houston.", "clipped": true, "phrase": "Dynegy Inc.'s proposed $8.85-billion (U.S.) takeover of Enron Corp. faces major uncertainties, ranging from possible opposition from regulators to potentially huge new liabilities and writeoffs at Enron.", "path": "kitchen-l/_americas/sec_media/38."}, "s795": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions - 11/09/01-11/10/01", "text": "Under the deal, Enron shareholders will receive 0.2685 share of Dynegy stock for each Enron share, or $9.80 based on Dynegy's closing price on Thursday. Enron's stock gained 22 cents yesterday, to $8.63. \n''I never thought our stock price would be at this level,'' Mr. Lay said yesterday. \nEnron's shareholders will own only 36 percent of the combined company, and Dynegy will name at least 11 members of the company's 14-member board. \nIf the deal falls apart, Enron or Dynegy will have to pay a breakup fee of $350 million. \nTo protect Dynegy's and ChevronTexaco's cash infusion, the money will go to an Enron unit that owns the Northern Natural Gas Pipeline. If the merger is not completed, Dynegy will have the right to buy the unit.", "clipped": true, "phrase": "Enron's shareholders will own only 36 percent of the combined company, and Dynegy will name at least 11 members of the company's 14-member board.", "path": "kitchen-l/_americas/sec_media/40."}, "s831": {"from": "issuealert@scientech.com", "to": "issuealerthtml@listserv.scientech.com", "subject": "Dynegy and Enron Announce Merger", "text": "negy is buying Enron for about $10 a share, quite a steal considering that just over a year ago Enron was trading at close to $90 a share and had a market value of nearly $70 billion. Under terms of the agreement, Enron shareholders will receive 0.2685 Dynegy shares per share of Enron common stock. Dynegy's current stockholders (including ChevronTexaco Corp., which currently owns 27 percent of Dynegy) will own approximately 64 percent of the combined company, while Enron's stockholders will own approximately 36 percent of the combined company's stock at closing.", "clipped": true, "phrase": "Dynegy's current stockholders (including ChevronTexaco Corp., which currently owns 27 percent of Dynegy) will own approximately 64 percent of the combined company, while Enron's stockholders will own approximately 36 percent", "path": "kean-s/dynegy_transaction/4."}, "s842": {"from": "rahil.jafry@enron.com", "to": "louise.kitchen@enron.com, marcus.nettelton@enron.com", "subject": "FW: Highlights from this morning's ENE/DYN analyst conference call", "text": "Debt/equity of combined company expected to be <45%.\nBoth companies will remain on RatingsWatch negative.  \nChevronTexaco will hold 169MM shares out of a total 650MM shares of the post-merger entity.  \nWatson 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.  \nIn what was termed a \"new approach\", the new entity will be run with a focus on cash flow rather than earnings.  \nRumors that Dynegy did the deal because of an unhedged exposure to Enron are not true.  Dynegy owed Enron <$50MM.", "clipped": true, "phrase": "ChevronTexaco will hold 169MM shares out of a total 650MM shares of the post-merger entity.", "path": "kitchen-l/_americas/east_power/12."}, "s796": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions - 11/09/01-11/10/01", "text": "''I never thought our stock price would be at this level,'' Mr. Lay said yesterday. \nEnron's shareholders will own only 36 percent of the combined company, and Dynegy will name at least 11 members of the company's 14-member board. \nIf the deal falls apart, Enron or Dynegy will have to pay a breakup fee of $350 million. \nTo protect Dynegy's and ChevronTexaco's cash infusion, the money will go to an Enron unit that owns the Northern Natural Gas Pipeline. If the merger is not completed, Dynegy will have the right to buy the unit.", "clipped": true, "phrase": "If the deal falls apart, Enron or Dynegy will have to pay a breakup fee of $350 million.", "path": "kitchen-l/_americas/sec_media/40."}, "s861": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions", "text": "Oil company ChevronTexaco Inc., a major Dynegy stockholder, has already agreed to inject $1.5 billion into Enron immediately to keep it afloat while the merger is completed, which Dynegy expects to take six to nine months. \nIf Enron backs out of the deal to accept a higher offer, it would have to pay a $350 million breakup fee to Dyegy. \nAnd if the deal breaks down for any reason, Dynegy would be allowed to exercise an option to acquire Enron's Northern Natural Gas pipeline subsidiary.\n\nCopyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved. \t\n\nUSA: UPDATE 2-Enron, Dynegy shares rise despite mixed reviews.\n\n11/12/2001\nReuters English News Service\n(C) Reuters Limited 2001.\n(New third paragraph points out gap between Enron stock \nprice and value of Dynegy offer)", "clipped": true, "phrase": "If Enron backs out of the deal to accept a higher offer, it would have to pay a $350 million breakup fee to Dyegy.", "path": "kitchen-l/_americas/sec_media/37."}, "s876": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "Speaking to analysts yesterday, Rob Doty, chief financial officer at Dynegy, said the company was paying about seven or eight times the cash flow of the pipeline business. \nWalking away from the deal might cost Dynegy $350 million if it could not cite any material adverse change in Enron's business, as provided in the merger agreement. But one way to look at this deal is that Dynegy is spending $1.85 billion for the pipeline and a right to get the rest of Enron on the agreed terms. \nMr. Watson said he was confident that things would not go wrong. \n''We have comfort there is not another shoe to drop,'' he said. ''If there is no shoe, this is a phenomenally good transaction.''", "clipped": true, "phrase": "Walking away from the deal might cost Dynegy $350 million if it could not cite any material adverse change in Enron's business, as provided in the merger agreement.", "path": "kitchen-l/_americas/sec_media/36."}, "s826": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions", "text": "Mr. Watson said Dynegy has given itself the opportunity to back out of the proposed merger under certain conditions, which he declined to specify. \nA person familiar with the deal said that Dynegy has a right to walk away if Enron's additional legal and financial liabilities exceed $3.5-billion. \nA Dynegy spokesman confirmed the figure.", "clipped": true, "phrase": "A person familiar with the deal said that Dynegy has a right to walk away if Enron's additional legal and financial liabilities exceed $3.5-billion.", "path": "kitchen-l/_americas/sec_media/38."}, "s846": {"from": "rahil.jafry@enron.com", "to": "louise.kitchen@enron.com, marcus.nettelton@enron.com", "subject": "FW: Highlights from this morning's ENE/DYN analyst conference call", "text": "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.\nMcMahon adds that there 'could' be more restatements, but he 'does not expect' there to be more restatements.\nENE international hard assets definitely on the asset disposition list.\nThe merger structure calls for a new entity to take over Enron.\nEnron is planning to hold an Enron-specific conference call in the next few days, tentatively scheduled for Wednesday.\nInitial reaction of ratings agencies 'very positive' to combined entities.", "clipped": true, "phrase": "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.", "path": "kitchen-l/_americas/east_power/12."}, "s857": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions", "text": "(C) Reuters Limited 2001.\nHOUSTON, Nov 12 (Reuters) - Dynegy Inc. said on Monday does not foresee any damaging disclosures from Enron Corp., slammed by news of murky off-balance sheet transactions, that could derail its planned takeover of the beleaguered energy trading giant. \nHowever, Dynegy said it can drop its $9 billion offer if more bad news emerges, or if pending lawsuits against Enron lead to more than $3.5 billion in costs.\nDynegy also expressed confidence the takeover announced on Friday, will win U.S. regulatory approval. \n\"I really have a good deal of confidence, but not an absolute guarantee, that we are going to be fine here,\" said Dynegy Chief Executive Officer Chuck Watson, when pressed about the possibility of further troubling disclosures by Enron.", "clipped": true, "phrase": "However, Dynegy said it can drop its $9 billion offer if more bad news emerges, or if pending lawsuits against Enron lead to more than $3.5 billion in costs.", "path": "kitchen-l/_americas/sec_media/37."}, "s825": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions", "text": "A downgrade to junk status could force Enron to come up with hundreds of millions of dollars in cash or stock to buttress some of its complicated financial transactions. \nIn an interview Friday, Dynegy chairman Chuck Watson said his company made \"a good assessment\" of Enron's condition and that in \"the worst-case we can come up with . . . we feel comfortable [that] the value exceeds the liabilities.\" \nMr. Watson said Dynegy has given itself the opportunity to back out of the proposed merger under certain conditions, which he declined to specify. \nA person familiar with the deal said that Dynegy has a right to walk away if Enron's additional legal and financial liabilities exceed $3.5-billion. \nA Dynegy spokesman confirmed the figure.", "clipped": true, "phrase": "Dynegy chairman Chuck Watson said his company made \"a good assessment\" of Enron's condition and that in \"the worst-case we can come up with . . . we feel comfortable [that] the value exceeds the liabilities.\"", "path": "kitchen-l/_americas/sec_media/38."}, "s858": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions", "text": "However, Dynegy said it can drop its $9 billion offer if more bad news emerges, or if pending lawsuits against Enron lead to more than $3.5 billion in costs.\nDynegy also expressed confidence the takeover announced on Friday, will win U.S. regulatory approval. \n\"I really have a good deal of confidence, but not an absolute guarantee, that we are going to be fine here,\" said Dynegy Chief Executive Officer Chuck Watson, when pressed about the possibility of further troubling disclosures by Enron. \nWatson said Dynegy had run the deal through worst-case scenarios and concluded that it made good business sense. \nInvestors apparently agreed, bidding up Dynegy shares $5.55, or 14.3 percent, to close at $44.31 on the New York Stock Exchange. Enron shares gained 61 cents, to 7.1 percent, to $9.24. The deal valued Enron stock at $10.41.", "clipped": true, "phrase": "\"I really have a good deal of confidence, but not an absolute guarantee, that we are going to be fine here,\" said Dynegy Chief Executive Officer Chuck Watson", "path": "kitchen-l/_americas/sec_media/37."}, "s859": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions", "text": "In particular, Dynegy can turn its back on the deal if pending litigation against Enron - including a stack of lawsuits filed by angry investors who have lost a fortune - leads to costs of more than $3.5 billion. \nChief Financial Officer Rob Doty said it was highly unlikely that this threshold would be reached, even if a \"very substantial\" settlement was reached in the stockholder suits. \nCommerzbank Securities analyst Andre Meade said he was not yet convinced that the stream of bad news from Enron was over. \n\"I think Dynegy is making a big bet that they can successfully clean up the problems that Enron has had,\" he said. \nBut UBS Warburg analyst Jay Yannello said after hearing management discuss the deal, he was reassured it could address tough questions - a breath of fresh air after Enron's tight-lipped response to investors.", "clipped": true, "phrase": "Chief Financial Officer Rob Doty said it was highly unlikely that this threshold would be reached, even if a \"very substantial\" settlement was reached in the stockholder suits.", "path": "kitchen-l/_americas/sec_media/37."}, "s840": {"from": "rahil.jafry@enron.com", "to": "louise.kitchen@enron.com, marcus.nettelton@enron.com", "subject": "FW: Highlights from this morning's ENE/DYN analyst conference call", "text": "Specific points:\nEES will be a part of the new company.  \nEnron assets will be revalued at closing.  \nThe 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.  \nDebt/equity of combined company expected to be <45%.\nBoth companies will remain on RatingsWatch negative.  \nChevronTexaco will hold 169MM shares out of a total 650MM shares of the post-merger entity.", "clipped": true, "phrase": "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.", "path": "kitchen-l/_americas/east_power/12."}, "s877": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "Walking away from the deal might cost Dynegy $350 million if it could not cite any material adverse change in Enron's business, as provided in the merger agreement. But one way to look at this deal is that Dynegy is spending $1.85 billion for the pipeline and a right to get the rest of Enron on the agreed terms. \nMr. Watson said he was confident that things would not go wrong. \n''We have comfort there is not another shoe to drop,'' he said. ''If there is no shoe, this is a phenomenally good transaction.''", "clipped": true, "phrase": "Dynegy is spending $1.85 billion for the pipeline and a right to get the rest of Enron on the agreed terms.", "path": "kitchen-l/_americas/sec_media/36."}, "s907": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions", "text": "These events badly eroded investor confidence in the company, effectively blocking its ability to access capital markets, and forcing management to seek a corporate suitor. On Nov. 9, 2001, Dynegy (DYN) announced that it reached a definitive agreement to acquire ENE in a stock-for-stock transaction under which ENE shareholders will receive a fixed amount of DYN shares. The proposed DYN transaction will provide significant financial support to ENE, and should enable ENE to fund its cash needs through the first quarter of 2002 under expected business conditions, despite ENE's significant refinancing risk. The merger requires regulatory approvals, including Hart-Scott-Rodino, the SEC, and the Federal Regulatory Energy Commission; assuming regulators approve the merger, we would expect the transaction to close in", "clipped": true, "phrase": "On Nov. 9, 2001, Dynegy (DYN) announced that it reached a definitive agreement to acquire ENE in a stock-for-stock transaction under which ENE shareholders will receive a fixed amount of DYN shares.", "path": "kitchen-l/_americas/sec_media/35."}, "s928": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "Enron, the nation's largest energy trader, saw its stock collapse in recent weeks following a series of disclosures about the company's extensive dealings with partnerships run by some of its own officers. Those dealings are under investigation by the SEC. Last Friday, Enron agreed to be acquired by the far smaller Houston-based Dynegy for stock, currently valued at about $10.7 billion. The merger agreement still must be approved by regulators and shareholders of the two companies. \nSeparately, the California Public Employees' Retirement System, which owns about three million Enron and 500,000 Dynegy shares, said it would oppose the appointment of any current Enron board member to the board of a combined company. Michael Flaherman, chair of CalPERS investment committee said that it appeared that Enron's board \"failed in its responsibility\" to monitor the activities of Enron executives.", "clipped": true, "phrase": "Last Friday, Enron agreed to be acquired by the far smaller Houston-based Dynegy for stock, currently valued at about $10.7 billion. The merger agreement still must be approved by regulators and shareholders of the two companies.", "path": "kitchen-l/_americas/sec_media/33."}, "s948": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions- 11/14/01", "text": "Enron also said it is seeking an additional $500 million to $1 billion in private equity to help rebuild confidence in the company and keep its core trading operations afloat in the nine months before the acquisition by Dynegy is expected to close. \nEnron, the nation's biggest buyer and seller of natural gas and electricity, agreed on Friday to be bought by Dynegy for about $9 billion in stock after investor unease over the company's business deals sapped its finances to the point of near-collapse. \nEnron has been under the gun from Wall Street since mid-October when it said shareholder equity had been cut by $1.2 billion because of off-balance sheet deals with partnerships run by former Chief Financial Officer Andrew Fastow, who was later replaced. The deals are under investigation by U.S. regulators.", "clipped": true, "phrase": "Enron, the nation's biggest buyer and seller of natural gas and electricity, agreed on Friday to be bought by Dynegy for about $9 billion in stock", "path": "kitchen-l/_americas/sec_media/32."}, "s970": {"from": "vance.meyer@enron.com", "to": "marsha.schiller@enron.com, raymond.bowen@enron.com,   \tjeffrey.mcmahon@enron.com, pr <.palmer@enron.com>,   \tkaren.denne@enron.com, meredith.philipp@enron.com, j..kean@enron.com", "subject": "FW: =DJ Enron Set To Close/Revolver -2: Pipelines Support $1 Bln", "text": "closings to proceed. \n\n  Enron reached agreement on the credit lines Nov. 1, after the company drew\ndown all its previously available credit facilities to buy back its outstanding\ncommercial paper and raise cash. \n\n  Last week, energy-industry rival Dynegy Inc. (DYN) announced it had reached\nan agreement to acquire Enron in a stock swap now valued at about $10 billion\nplus assumed debt. Without the agreement, Enron's ratings would fall to\nspeculative grade, S&P has said. \n\n  Enron restated four and a half years' worth of financial reports last\nThursday because of questionable partnership arrangements, lowering its\nearnings over the period by 20%. Resulting downgrades by Moody's and S&P led\nsome energy companies to severely restrict their business with Enron. \n\n  -By Michael C. Barr, Dow Jones Newswires; 201-938-XXXX;", "clipped": true, "phrase": "energy-industry rival Dynegy Inc. (DYN) announced it had reached\nan agreement to acquire Enron in a stock swap now valued at about $10 billion\nplus assumed debt.", "path": "kean-s/deleted_items/371."}, "s987": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions - 11/17/01 - 11/18/01", "text": "rcent of the nation's demand, is under investigation by the Securities and Exchange Commission and announced a $1.2 billion reduction in shareholder equity from deals with partnerships involving its former chief financial officer. It also reported a third-quarter loss and restated earlier earnings. Enron has agreed to be taken over by Dynegy, a smaller rival, for about $9 billion in stock. Dynegy is also assuming about $13 billion in debt. \nAnxiety over whether the Enron investigation would disrupt deliveries or have other market repercussions led to an increase in prices. While it is ''difficult to quantify the Enron factor,'' Mr. Featherston said, the short-term effects on natural gas prices seem to be over.", "clipped": true, "phrase": "Enron has agreed to be taken over by Dynegy, a smaller rival, for about $9 billion in stock. Dynegy is also assuming about $13 billion in debt.", "path": "kean-s/deleted_items/369."}, "s998": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions - 11/19/01", "text": "Enron, which has been criticized for failing to clearly explain how it makes money, may disclose in a filing expected today more on how much is owed by the company and affiliated partnerships, as well as any planned job cuts and other cost-saving moves related to Dynegy's $24-billion buyout.\nEnron agreed to sell after its stock plunged 67% in three weeks amid an SEC investigation into partnerships run by Enron executives. Investors worry that new disclosures, such as previously unreported debt, might threaten Enron's credit rating and scuttle the merger, possibly pushing Enron into bankruptcy.", "clipped": true, "phrase": "as well as any planned job cuts and other cost-saving moves related to Dynegy's $24-billion buyout", "path": "kean-s/deleted_items/368."}, "s1020": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions- 11/19/01", "text": "investment grade, would trigger repayment of $3.9 billion in debt\nowed by two affiliated companies.\n\n     The rating drop would trigger repayment of $2.4 billion in\ndebt owed by Osprey Trust, and $915 million owed by Marlin Water\nTrust, the company said in the filing.\n\n     Enron is being bought by Dynegy Inc. for $25 billion in stock\nand debt. Enron also said in its filing that if shareholder\nlawsuits result in judgments totaling more than $2 billion, the\nDynegy deal could collapse.\n\n    The filing was released after the stock market closed.  Shares\nof Houston-based Enron rose 6 cents to $9.06. Dynegy shares rose\n$1.13 to $43.60. Shares of ChevronTexaco Corp., which owns 26\npercent of Dynegy, fell 54 cents to $82.91.\n\nUSA: INTERVIEW-Pepco sees electricity deregulation slowing.", "clipped": true, "phrase": "Enron is being bought by Dynegy Inc. for $25 billion in stock\nand debt.", "path": "kitchen-l/_americas/sec_media/26."}, "s1041": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions- 11/20/01", "text": "The company on Nov. 9 agreed to merge with competitor Dynegy Inc. But its latest SEC filing said it was sued by shareholders on Nov. 12 in state court in Houston to prevent the merger from happening. The petition alleges that Enron's directors breached their fiduciary duties to Enron's shareholders by agreeing to sell Enron for inadequate consideration and without an adequate investigation of the alternatives available to Enron. Enron said it would vigorously defend itself.", "clipped": true, "phrase": "The company on Nov. 9 agreed to merge with competitor Dynegy Inc.", "path": "kean-s/deleted_items/410."}, "s1050": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions- 11/20/01", "text": "Those problems shook investor and trading partner confidence in Enron, which led to a sharp drop in its stock price and cuts in its credit rating. The company eventually reached a deal with rival Dynegy to be acquired for almost $9 billion in stock plus the assumption of almost $13 billion in debt and $2 billion in preferred stock. \nThe fallout from Enron's crumble is spreading to its major service providers, including Andersen. That firm has been named as a defendant in at least one shareholder lawsuit, while on Monday Rep. John Dingell, D-Mich., called for an investigation of Andersen in connection with its audits of Enron and Houston-based Waste Management.", "clipped": true, "phrase": "The company eventually reached a deal with rival Dynegy to be acquired for almost $9 billion in stock plus the assumption of almost $13 billion in debt and $2 billion in preferred stock.", "path": "kean-s/deleted_items/410."}, "s1072": {"from": "peggy.mahoney@enron.com", "to": "karen.denne@enron.com, j..kean@enron.com", "subject": "HELP!!!", "text": "Malik said Enron executives had not mentioned the potential payment of $690 million during a conference call with analysts on Nov. 14, two days before the credit rating downgrade that triggered it on Nov. 12. \n\nEnron agreed to be acquired by smaller rival Dynegy Inc.(NYSE:DYN - news) for some $9 billion in stock on Nov. 9 after a collapse in investor confidence and snowballing financial problems brought Enron to the brink of collapse. \n\nDynegy wrote clauses into its agreement with Enron that allow it to walk away from the deal if the problems at Enron turn out to be far worse than previously disclosed, but Dynegy executives have said it is unlikely those clauses will be invoked.", "clipped": true, "phrase": "Enron agreed to be acquired by smaller rival Dynegy Inc.(NYSE:DYN - news) for some $9 billion in stock on Nov. 9 after a collapse in investor confidence", "path": "kean-s/deleted_items/400."}, "s914": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions", "text": "Also, Izatt said Dynegy's cash infusion and purchase will help Enron to retain its position in the energy market. \n\"Dynegy is there for real,\" Izatt said. \"They intend to see this through to fruition and energy players will view this and (feel confident enough to trade with Enron.)\" \nUnder terms of the acquisition, Dynegy will pay Enron shareholders 0.2685 of a Dynegy share for each Enron share outstanding. The value of the stock swap at the close of the market Monday was $10.12 billion. \nDynegy is making an immediate cash investment in Enron with the assistance of ChevronTexaco Corp. (CVX). Later, when the deal closes, ChevronTexaco will make an additional $1 billion investment in the combined company. \n-By Christina Cheddar, Dow Jones Newswires; 201-938-XXXX; christina.cheddar@dowjones.com", "clipped": true, "phrase": "Under terms of the acquisition, Dynegy will pay Enron shareholders 0.2685 of a Dynegy share for each Enron share outstanding.", "path": "kitchen-l/_americas/sec_media/35."}, "s1054": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions- 11/20/01", "text": "''Our initial read was that this might have been like a run on the bank,'' Ms. Coale said. ''But now it sounds like Enron's problems were actually more inherent than perceived.'' \nEnron's deal with Dynegy calls for Enron holders to receive 0.2685 Dynegy share for each Enron share, but in trading since the deal was announced Enron's share price has lagged Dynegy's price, reflecting investor doubts that the deal will be completed at the announced terms.", "clipped": true, "phrase": "Enron's deal with Dynegy calls for Enron holders to receive 0.2685 Dynegy share for each Enron share", "path": "kean-s/deleted_items/410."}, "s1083": {"from": "peggy.mahoney@enron.com", "to": "j..kean@enron.com, pr <.palmer@enron.com>, karen.denne@enron.com", "subject": "Enron Corp.: IN THE MONEY: Enron Melts As Many See Merger In   Jeopardy", "text": "Perhaps most telling about the uncertainty surrounding Enron and the\nmerger with Dynegy is the fact that even a 68% risk premium over the\nvalue of the Dynegy deal has so far failed to attract investors. \"The\ndeal appears in real jeopardy here,\" a bond trader said.\n\n  Under the merger plan, Enron holders would receive 0.2685 Dynegy share\nfor each Enron share. At Dynegy's current share price of $41.77, that\nmeans the value of the deal is about $11.20 a share for Enron holders.\nBut Enron stock recently traded as low as $6.68 a share, almost 68%\nbelow the value of the merger.\n\n  Adding to doubts about Enron's long-term viability, the company said\nin a delayed quarterly filing late Monday that its ability to continue\nas a going concern depends on a number of factors, including being able\nto retain an investment grade credit rating.\n\n  Dynegy declined to comment on whether its decision to merge with Enron", "clipped": true, "phrase": "Under the merger plan, Enron holders would receive 0.2685 Dynegy share\nfor each Enron share. At Dynegy's current share price of $41.77, that\nmeans the value of the deal is about $11.20 a share for Enron holders.", "path": "kean-s/deleted_items/387."}, "s897": {"from": "jay.webb@enron.com", "to": "louise.kitchen@enron.com", "subject": "do they get it?", "text": "seller of both natural gas and electricity, agreed to\na Dynegy buyout after it was overwhelmed by a series\nof problems, including a U.S. regulatory probe into\nthe off-balance sheet dealings, a $1.2 billion cut in\nshareholder equity and damaging credit rating\ndowngrades.\n\nHowever, Dynegy can drop its offer if more bad news\nemerges, or if pending lawsuits against Enron lead to\nmore than $3.5 billion in costs.\n\nDynegy also expressed confidence the takeover will win\nU.S. regulatory approval and said it does not expect\nany antitrust concerns to impede the merger of the two\nelectronic platforms.\n\nDynegy shares gained $5.55, or 14.3 percent, to $44.31\non the New York Stock Exchange, while shares of Enron\nrose 61 cents, or 7 percent, to $9.24.\n\nThe takeover halted a free-fall in Enron's stock that\nlost about 75 percent of its market capitalization in", "clipped": true, "phrase": "However, Dynegy can drop its offer if more bad news\nemerges, or if pending lawsuits against Enron lead to\nmore than $3.5 billion in costs.", "path": "kitchen-l/_americas/esvl/558."}, "s940": {"from": "j..kean@enron.com", "to": "maureen.mcvicker@enron.com", "subject": "FW: Final Communication Materials", "text": "?\tQuantification of litigation (media and investors)\no\tno specific comment on litigation\no\tshareholder suits likely to be consolidated\no\t$3.5 billion \"basket\" in merger agreement is designed to cover all Enron litigation (i.e. not just shareholder litigation) and the parties believe this will be sufficient\n\n?\tKen Lay's compensation (media and employees)\no\tKen, like many CEOs, has a change in control provision in his contract (and has had one for many years)\no\tKen has elected to waive his right to payment under that provision\n\nMessages of the Day\n\n?\tImpact of merger on asset sales transactions (e.g. Dabhol) (media)", "clipped": true, "phrase": "$3.5 billion \"basket\" in merger agreement is designed to cover all Enron litigation (i.e. not just shareholder litigation) and the parties believe this will be sufficient", "path": "kean-s/sent_items/569."}, "s1021": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions- 11/19/01", "text": "The rating drop would trigger repayment of $2.4 billion in\ndebt owed by Osprey Trust, and $915 million owed by Marlin Water\nTrust, the company said in the filing.\n\n     Enron is being bought by Dynegy Inc. for $25 billion in stock\nand debt. Enron also said in its filing that if shareholder\nlawsuits result in judgments totaling more than $2 billion, the\nDynegy deal could collapse.\n\n    The filing was released after the stock market closed.  Shares\nof Houston-based Enron rose 6 cents to $9.06. Dynegy shares rose\n$1.13 to $43.60. Shares of ChevronTexaco Corp., which owns 26\npercent of Dynegy, fell 54 cents to $82.91.\n\nUSA: INTERVIEW-Pepco sees electricity deregulation slowing.\nBy Christopher Doering\n\n11/19/2001\nReuters English News Service\n(C) Reuters Limited 2001.", "clipped": true, "phrase": "if shareholder\nlawsuits result in judgments totaling more than $2 billion, the\nDynegy deal could collapse.", "path": "kitchen-l/_americas/sec_media/26."}, "s1056": {"from": "hemery@firstunion1.com", "to": "hemery.houston_fannin1_po.central_dom@firstunion1.com", "subject": "CREDIT SUISSE FIRST BOSTON-Enron Corp.10Q Info Consistent   WithPlusses For DYN In Deal", "text": "broadband assets) that are for sale, an ability to issue $2 billion of\nadditional equity before the Dynegy (DYN, 43.60, Strong Buy) deal closes and a\ntotal debt balance of $16.3 billion ($13.0 \"on balance sheet\" and $3.3 billion\n\"off balance sheet\").\n\nThe \"material adverse change (MAC)\" clause in the DYN/ENE deal was described as\nconsidered if other ENE liabilities (primarily litigation) exceed $2 billion net\nof insurance or reserves. If an additional $1.5 billion in liabilities is\nassessed a MAC is deemed to have occurred.\n\nIn assessing a 90% probability that the DYN/ENE deal will be completed, we note\nthat ENE is not a going concern without it, DYN demonstrably benefits by it\n(please see report dated Nov 9,'01) and Chevron/Texaco (CVX, 82.91) supports it.\nIn our view, positive comments by CVX yesterday, and the $1.5 billion cash", "clipped": true, "phrase": "The \"material adverse change (MAC)\" clause in the DYN/ENE deal was described as\nconsidered if other ENE liabilities (primarily litigation) exceed $2 billion net\nof insurance or reserves.", "path": "kean-s/deleted_items/374."}, "s1057": {"from": "hemery@firstunion1.com", "to": "hemery.houston_fannin1_po.central_dom@firstunion1.com", "subject": "CREDIT SUISSE FIRST BOSTON-Enron Corp.10Q Info Consistent   WithPlusses For DYN In Deal", "text": "total debt balance of $16.3 billion ($13.0 \"on balance sheet\" and $3.3 billion\n\"off balance sheet\").\n\nThe \"material adverse change (MAC)\" clause in the DYN/ENE deal was described as\nconsidered if other ENE liabilities (primarily litigation) exceed $2 billion net\nof insurance or reserves. If an additional $1.5 billion in liabilities is\nassessed a MAC is deemed to have occurred.\n\nIn assessing a 90% probability that the DYN/ENE deal will be completed, we note\nthat ENE is not a going concern without it, DYN demonstrably benefits by it\n(please see report dated Nov 9,'01) and Chevron/Texaco (CVX, 82.91) supports it.\nIn our view, positive comments by CVX yesterday, and the $1.5 billion cash\ninfusion to ENE from CVX on Nov 13, add to the support shown for the deal.", "clipped": true, "phrase": "If an additional $1.5 billion in liabilities is\nassessed a MAC is deemed to have occurred.", "path": "kean-s/deleted_items/374."}, "s924": {"from": "legal <.schuler@enron.com>", "to": "jeffrey.mcmahon@enron.com, tim.despain@enron.com, j..kean@enron.com", "subject": "FW: *Merger Agreement Summary", "text": "You may also want the following  additional information:\n\nDynegy may terminate the merger agreement if there has been a breach by Enron of any of its representations, warranties (such that there would be a Material Adverse Effect), covenants or agreements (in all material respects) set forth in the merger agreement and such breach is not curable, or, if it is curable, is not cured within 30 days after written notice of such breach is given by Dynegy to Enron.", "clipped": true, "phrase": "Dynegy may terminate the merger agreement if there has been a breach by Enron of any of its representations, warranties (such that there would be a Material Adverse Effect), covenants or agreements", "path": "kean-s/dynegy_transaction/6."}, "s925": {"from": "legal <.schuler@enron.com>", "to": "jeffrey.mcmahon@enron.com, tim.despain@enron.com, j..kean@enron.com", "subject": "FW: *Merger Agreement Summary", "text": "Dynegy may terminate the merger agreement if there has been a breach by Enron of any of its representations, warranties (such that there would be a Material Adverse Effect), covenants or agreements (in all material respects) set forth in the merger agreement and such breach is not curable, or, if it is curable, is not cured within 30 days after written notice of such breach is given by Dynegy to Enron.\n\nNote, the merger deal may not occur for certain fiduciary duty reasons - say for a superior proposal.  I would not at all get into this area; note that there are \"no-shop\" provisions, that prohibit any encouragement of offers.  If asked, I would just refer anyone to the technical terms of the merger agreement.", "clipped": true, "phrase": "such breach is not curable, or, if it is curable, is not cured within 30 days after written notice of such breach is given by Dynegy to Enron.", "path": "kean-s/dynegy_transaction/6."}, "s926": {"from": "legal <.schuler@enron.com>", "to": "jeffrey.mcmahon@enron.com, tim.despain@enron.com, j..kean@enron.com", "subject": "FW: *Merger Agreement Summary", "text": "Note, the merger deal may not occur for certain fiduciary duty reasons - say for a superior proposal.  I would not at all get into this area; note that there are \"no-shop\" provisions, that prohibit any encouragement of offers.  If asked, I would just refer anyone to the technical terms of the merger agreement.\n\nIn any event, I would tell people that the discussion of the merger agreement is qualified to the terms of the merger agreement, a copy of which will be filed with the SEC under a Form 8-K, first thing in the morning.  \n\nThanks.  Lance.  \n\nW. Lance Schuler\nEnron North America Corp.\n1400 Smith Street\nHouston, Texas  77002\nPhone: 713/853-XXXX\nFax:  281/664-XXXX", "clipped": true, "phrase": "note that there are \"no-shop\" provisions, that prohibit any encouragement of offers.", "path": "kean-s/dynegy_transaction/6."}, "s956": {"from": "j..kean@enron.com", "to": "karen.denne@enron.com", "subject": "RE: How's morale!", "text": "I think the answer is this:  fully consistent with the successful completion of the transaction with Dynegy we are taking the actions we need to take to stabilize Enron's situation.  These actions are important to preserving the value of what Dynegy is buying.  The merger agreement, of course, has a \"no shop\" provision, and it has provisions, as I understand it, to make sure Enron continues to run the business prudently. That's what we are doing.\n\n -----Original Message-----\nFrom: \tDenne, Karen  \nSent:\tWednesday, November 14, 2001 6:23 PM\nTo:\tKean, Steven J.\nSubject:\tFW: How's morale!\n\nSteve -- I'm sure there's nothing to this, but let me know how to respond. thx. kd\n\n -----Original Message-----\nFrom: \tMeg.Nollen@dynegy.com@ENRON  \nSent:\tTuesday, November 13, 2001 9:43 PM\nTo:\tDenne, Karen\nSubject:\tHow's morale!", "clipped": true, "phrase": "The merger agreement, of course, has a \"no shop\" provision, and it has provisions, as I understand it, to make sure Enron continues to run the business prudently.", "path": "kean-s/sent_items/574."}, "s889": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "Dynegy announced a deal Friday to buy Enron at a fire-sale price of almost $9 billion in stock, plus the assumption of about $13 billion in debt and $2 billion in preferred stock. The merger is expected to close, barring holdups from regulators, in six to nine months. \nAs part of the agreement, Dynegy stakeholder ChevronTexaco is giving Dynegy $1.5 billion, which is to be infused today to help shore up Enron's liquidity and preserve its trading franchise. \nSome of Enron's former trading partners are still steering clear of the giant. \nTo facilitate transactions, the various energy trading firms extend credit to one another. Those agreements are contingent upon a partner maintaining an adequate rating.", "clipped": true, "phrase": "The merger is expected to close, barring holdups from regulators, in six to nine months.", "path": "kitchen-l/_americas/sec_media/36."}, "s922": {"from": "chairman.ken@enron.com", "to": "dl-ga-all_enron_worldwide2@enron.com", "subject": "Change of Control Provisions", "text": ", I have a provision in my employment contract which provides for a payment of $20 million per year for the remaining term of my contract in the event of a change of control of Enron.  The merger with Dynegy, or a similar transaction with any other company, would trigger this provision on closing.  Assuming the merger with Dynegy is closed within 6-9 months, as we expect, this provision would entitle me to total payments of slightly more than $60 million.", "clipped": true, "phrase": "Assuming the merger with Dynegy is closed within 6-9 months, as we expect", "path": "kitchen-l/_americas/esvl/546."}, "s909": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions", "text": "y blocking its ability to access capital markets, and forcing management to seek a corporate suitor. On Nov. 9, 2001, Dynegy (DYN) announced that it reached a definitive agreement to acquire ENE in a stock-for-stock transaction under which ENE shareholders will receive a fixed amount of DYN shares. The proposed DYN transaction will provide significant financial support to ENE, and should enable ENE to fund its cash needs through the first quarter of 2002 under expected business conditions, despite ENE's significant refinancing risk. The merger requires regulatory approvals, including Hart-Scott-Rodino, the SEC, and the Federal Regulatory Energy Commission; assuming regulators approve the merger, we would expect the transaction to close in six- to nine-months. The merger agreement includes termination provisions that add an element of uncertainty to its completion. Fitch anticipates that the surv", "clipped": true, "phrase": "The proposed DYN transaction will provide significant financial support to ENE, and should enable ENE to fund its cash needs through the first quarter of 2002", "path": "kitchen-l/_americas/sec_media/35."}, "s904": {"from": "kathleen.carnahan@enron.com", "to": "kay.mann@enron.com", "subject": "Reagan & Rudy's request", "text": "Kay,\n\nI talked to Reagan regarding the potential Dynegy transaction.  I am preparing a CA as follows?\n\nParties:  EPMI and Dynegy, Inc.\nBilateral\nPurpose:  Discussions regarding one or more potential transactions involving EPMI and Dynegy regarding energy capacity and ancillary services.\n\nFor the time being, Reagan has decided not to limit these discussions to the Entergy control area, but rather leave it wide open.\n\nKathleen", "clipped": false, "phrase": "Purpose:  Discussions regarding one or more potential transactions involving EPMI and Dynegy regarding energy capacity and ancillary services.", "path": "mann-k/deleted_items/84."}, "s905": {"from": "kathleen.carnahan@enron.com", "to": "kay.mann@enron.com", "subject": "Reagan & Rudy's request", "text": "Kay,\n\nI talked to Reagan regarding the potential Dynegy transaction.  I am preparing a CA as follows?\n\nParties:  EPMI and Dynegy, Inc.\nBilateral\nPurpose:  Discussions regarding one or more potential transactions involving EPMI and Dynegy regarding energy capacity and ancillary services.\n\nFor the time being, Reagan has decided not to limit these discussions to the Entergy control area, but rather leave it wide open.\n\nKathleen", "clipped": false, "phrase": "For the time being, Reagan has decided not to limit these discussions to the Entergy control area, but rather leave it wide open.", "path": "mann-k/deleted_items/84."}, "s878": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "Mr. Watson said he was confident that things would not go wrong. \n''We have comfort there is not another shoe to drop,'' he said. ''If there is no shoe, this is a phenomenally good transaction.'' \nIn presentations to analysts, Dynegy officials said they expected the company's earnings per share to grow by at least 90 cents a year even before considering cost reductions as the two businesses are merged. That arithmetic was based on assumptions that Enron could deliver at least 75 percent of the $2 a share in pro-forma earnings that Wall Street had been forecasting for next year. Those forecasts had stayed the same even as Enron's business collapsed. \nThe bullish case for the merger is that Enron's real profits were there and that the financial maneuvering did not cover up far deeper problems.", "clipped": true, "phrase": "In presentations to analysts, Dynegy officials said they expected the company's earnings per share to grow by at least 90 cents a year even before considering cost reductions as the two businesses are merged.", "path": "kitchen-l/_americas/sec_media/36."}, "s886": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "Many employees at Enron will get new grants of stock options when the acquisition is completed, he said. The company said it expected the deal to close by the end of the third quarter of next year, after extensive reviews from federal and state energy regulators and the Department of Justice. \nMr. Watson predicted that the deal would lift Dynegy's earnings by 90 cents or more a share next year, to more than $3.45 a share. \nAnalysts backed that view yesterday. ''Investments in noncore business distracted the attention of management and also took up capital,'' said Thomas Hamlin, an analyst at Wachovia Securities. Mr. Hamlin said he believed that Dynegy had obtained Enron, which reported more than $100 billion in revenue last year, for a bargain price.", "clipped": true, "phrase": "Mr. Watson predicted that the deal would lift Dynegy's earnings by 90 cents or more a share next year, to more than $3.45 a share.", "path": "kitchen-l/_americas/sec_media/36."}, "s913": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions", "text": "But Izatt does expect Dynegy will merge with Enron, and the resulting company will emerge as a \"much stronger company,\" he said. \nFor example, the analyst expects Dynegy has the potential to achieve more than $400 million to $500 million in pretax, merger cost savings Dynegy is projecting. \nAlso, Izatt said Dynegy's cash infusion and purchase will help Enron to retain its position in the energy market. \n\"Dynegy is there for real,\" Izatt said. \"They intend to see this through to fruition and energy players will view this and (feel confident enough to trade with Enron.)\"", "clipped": true, "phrase": "the analyst expects Dynegy has the potential to achieve more than $400 million to $500 million in pretax, merger cost savings Dynegy is projecting.", "path": "kitchen-l/_americas/sec_media/35."}, "s946": {"from": "timothy.blanchard@enron.com", "to": "matthew.lenhart@enron.com, eric.bass@enron.com, bryan.hull@enron.com", "subject": "FW: Highlights from ENE Analyst Conference Call 11/14", "text": "?\tThe ENE topup obligation for Marlin (represented by ENE common that would have to be delivered) will be converted into an obligation for an equivalent amount of DYN shares upon closing.  \n?\t$1.9Bn of debt is carried at the Azurix level.  \n?\tCurrent book value of the Osprey assets is $2.1Bn.  \n?\tNo Dynegy outs other than the previously discussed general MAC clause and the $3.5Bn legal liability clause.  \n?\tYosemite and the Credit-Linked notes are functionally equivalent to ENE senior unsecured debt (this section somewhat unclear).  The underlying transactions represented volumes of 'crude oil and gas'.  The transactions relate to the 'physical movement' of these commodities.  The swaps related to Yosemite and the CLNs would be financially settled.", "clipped": true, "phrase": "No Dynegy outs other than the previously discussed general MAC clause and the $3.5Bn legal liability clause.", "path": "lenhart-m/deleted_items/422."}, "s985": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions - 11/17/01 - 11/18/01", "text": "shares plunged this year and a federal investigation of accounting\nirregularities limited its ability to finance operations. Enron's\ncollapse would have caused upheaval in energy markets, where the\ncompany does one-quarter of all gas and power trades.\n\n     Dynegy's agreement to buy Enron allows it to withdraw from\nthe transaction under certain circumstances, the FT said.\n\nPERSPECTIVES\nA tale of greed and hubris\nWaldo Proffitt\n\n11/18/2001\nSarasota Herald-Tribune\nAll\nF2\n(Copyright 2001)\n\nFor anyone not already disenchanted with the idea of total deregulation of public utilities, the most recent installment of the miserable Enron story as it unfolded last week should serve as a convincing example of the folly of relying on unregulated profit- driven enterprises to supply our energy.", "clipped": true, "phrase": "Dynegy's agreement to buy Enron allows it to withdraw from\nthe transaction under certain circumstances, the FT said.", "path": "kean-s/deleted_items/369."}, "s1070": {"from": "peggy.mahoney@enron.com", "to": "karen.denne@enron.com, j..kean@enron.com", "subject": "HELP!!!", "text": "comment on the matter.\n\n  ChevronTexaco, San Francisco, owns 26% of Dynegy and is providing $2.5\nbillion in cash to Dynegy as part of the buyout.  Last week, an inital\npayment of $1.5 billion was transferred to Dynegy and then to Enron to\nhelp meet Enron's immediate cash  needs.\n\n  Dynegy's merger agreement with Enron contains several provisions\nbeyond the standard \"material adverse change\" provision that would allow\nthe deal to be terminated. Still, some question whether Dynegy was able\nto fully assess Enron's liabilities prior to striking the deal.\n\n  Investors have expressed frustration with Enron's lack of disclosure,\nand even marvelled at the fact that the 10-Q included material that\ncould have been mentioned in previous filings or company conference\ncalls.\n\nEnergy Cos Limit Business With Enron After 10Q -Traders\nBy Mark Golden\n\n11/20/2001\nDow Jones Energy Service", "clipped": true, "phrase": "Dynegy's merger agreement with Enron contains several provisions\nbeyond the standard \"material adverse change\" provision that would allow\nthe deal to be terminated.", "path": "kean-s/deleted_items/400."}, "s1073": {"from": "peggy.mahoney@enron.com", "to": "karen.denne@enron.com, j..kean@enron.com", "subject": "HELP!!!", "text": "Enron agreed to be acquired by smaller rival Dynegy Inc.(NYSE:DYN - news) for some $9 billion in stock on Nov. 9 after a collapse in investor confidence and snowballing financial problems brought Enron to the brink of collapse. \n\nDynegy wrote clauses into its agreement with Enron that allow it to walk away from the deal if the problems at Enron turn out to be far worse than previously disclosed, but Dynegy executives have said it is unlikely those clauses will be invoked. \n\nMalik said that as a trading partner in wholesale energy markets, Reliant will seek further clarification from Enron about its financial position. \n\n``My guess is that they are going to have a hard time coming up with the money,'' he said.", "clipped": true, "phrase": "Dynegy wrote clauses into its agreement with Enron that allow it to walk away from the deal if the problems at Enron turn out to be far worse than previously disclosed", "path": "kean-s/deleted_items/400."}, "s934": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "It was about an hour later that Enron said Mr. Lay would give up the severance entirely. \nMr. Lay has not decided whether to accept an invitation to be on the board of the combined company, which will be called Dynegy. \nThe deal could still fall victim to antitrust objections or disclosures of further financial problems at Enron. \nWhether Mr. Lay's gesture will placate Enron's traders, who are now deluging other energy-trading companies with resumes, remains to be seen. Dynegy is known as a much more conservative firm than Enron, and analysts renewed their concerns yesterday about the cultural clash draining the talent, and value, from the combined company.", "clipped": true, "phrase": "The deal could still fall victim to antitrust objections or disclosures of further financial problems at Enron.", "path": "kitchen-l/_americas/sec_media/33."}, "s965": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "ther Mr. Watson will retain his enthusiasm after his people study Enron's trading positions. Enron has always said it hedged its big derivative positions -- positions that can contain huge leverage that does not show up on the balance sheet -- but some of that hedging was with affiliated companies. If big surprises are found, Dynegy could back out of the deal. \nThere is plenty of blame to go around here, and suits have been filed against Enron, its current and former officials, and its auditor, Arthur Andersen. But investors also bear responsibility. Enron's financial statements were, as Mr. Lay conceded this week, ''opaque and difficult to understand.'' Investors and analysts knew they did not know what was going on. They bought anyway.", "clipped": true, "phrase": "If big surprises are found, Dynegy could back out of the deal.", "path": "kitchen-l/_americas/sec_media/31."}, "s944": {"from": "timothy.blanchard@enron.com", "to": "matthew.lenhart@enron.com, eric.bass@enron.com, bryan.hull@enron.com", "subject": "FW: Highlights from ENE Analyst Conference Call 11/14", "text": "?\tMcMahon says it's 'way too early to tell' if any asset writedowns are called for.  That analysis is underway, but it will not be complete for some time.  \n?\tOsprey contains the European power projects (Trakya and Saarlux), some North American merchant investments, and some Brazilian assets.  \n?\tUnder the merger agreement, Enron cannot dispose of assets representing more than 15% of the balance sheet without Dynegy approval.  However, an appendix to the agreement holds a list of assets that are specifically permitted to be sold without Dynegy approval.  \n?\tBroadband is expected to be fully wound up 'sometime over the course of the next year'.  (Did not catch this part clearly).  \n?\tThe ENE topup obligation for Marlin (represented by ENE common that would have to be delivered) will be converted into an obligation for an equivalent amount of DYN shares upon closing.", "clipped": true, "phrase": "Under the merger agreement, Enron cannot dispose of assets representing more than 15% of the balance sheet without Dynegy approval.", "path": "lenhart-m/deleted_items/422."}, "s945": {"from": "timothy.blanchard@enron.com", "to": "matthew.lenhart@enron.com, eric.bass@enron.com, bryan.hull@enron.com", "subject": "FW: Highlights from ENE Analyst Conference Call 11/14", "text": "?\tBroadband is expected to be fully wound up 'sometime over the course of the next year'.  (Did not catch this part clearly).  \n?\tThe ENE topup obligation for Marlin (represented by ENE common that would have to be delivered) will be converted into an obligation for an equivalent amount of DYN shares upon closing.  \n?\t$1.9Bn of debt is carried at the Azurix level.  \n?\tCurrent book value of the Osprey assets is $2.1Bn.  \n?\tNo Dynegy outs other than the previously discussed general MAC clause and the $3.5Bn legal liability clause.", "clipped": true, "phrase": "The ENE topup obligation for Marlin (represented by ENE common that would have to be delivered) will be converted into an obligation for an equivalent amount of DYN shares upon closing.", "path": "lenhart-m/deleted_items/422."}, "s953": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions- 11/14/01", "text": "Some arbs said Dynegy's stock may have risen because it could gain valuable pipeline assets whether or not a deal is completed. Enron said it granted Dynegy an option to buy its Northern Natural Gas pipeline system for less than $975 million if the deal falls apart after the months-long due diligence review. \n\"Now Dynegy has up to a year to look at the company and at worst, Dynegy comes away with a very good deal,\" said one arb. \"Even if it's a disaster, they come away with a very valuable pipeline.\" \nOnce a Wall Street high-flyer boasting a $90 share price just 15 months ago, Enron fell from grace after off-balance sheet transactions and financial reporting lapses prompted a regulatory investigation and senior official resignations.", "clipped": true, "phrase": "Enron said it granted Dynegy an option to buy its Northern Natural Gas pipeline system for less than $975 million if the deal falls apart after the months-long due diligence review.", "path": "kitchen-l/_americas/sec_media/32."}, "s949": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions- 11/14/01", "text": "Enron also said it is seeking an additional $500 million to $1 billion in private equity to help rebuild confidence in the company and keep its core trading operations afloat in the nine months before the acquisition by Dynegy is expected to close. \nEnron, the nation's biggest buyer and seller of natural gas and electricity, agreed on Friday to be bought by Dynegy for about $9 billion in stock after investor unease over the company's business deals sapped its finances to the point of near-collapse.", "clipped": true, "phrase": "in the nine months before the acquisition by Dynegy is expected to close", "path": "kitchen-l/_americas/sec_media/32."}, "s959": {"from": "paul.kaufman@enron.com", "to": "mark.metts@enron.com, jessica.uhl@enron.com, paul.puchot@enron.com,   \trichard.shapiro@enron.com, j..kean@enron.com", "subject": "FW: Application Filing", "text": "Bruce DeBolt did describe the only indirect impact of Enron's current\nsituation--i.e., that there are certain restrictions on Enron's ability\nto transfer the securities it holds to an affiliated interest if Enron's\ncredit rating decays to a given point.  \n\nThe Enron/Dynegy transaction is expected to close in the 3rd Quarter of\n2002.  We think we can get all regulatory approvals for the NWN\ntransaction completed and close before that.  \n\nI'm in Washington, D.C. today and tomorrow.  We have a pre-filing\nmeeting with the SEC on the NWN transaction tomorrow.  I'll be back in\nthe office on Friday.  I can be reached by pager 888.354.XXXX or cell\nphone 503.539.XXXX if you need more information or have further\nquestions.", "clipped": true, "phrase": "The Enron/Dynegy transaction is expected to close in the 3rd Quarter of\n2002.", "path": "kean-s/pge/202."}, "s973": {"from": "the.buzz@enron.com", "to": "", "subject": "the Buzz, Friday, November 16, 2001 (Additions)", "text": "The new organization will focus on core businesses including wholesale energy markets and commercial and industrial energy users. Enron will continue to act as an independent company until the merger, which is expected to close at the end of Q3 2002, is complete. Click here  to view the press release outlining the merger details and the merger Q&A.", "clipped": true, "phrase": "Enron will continue to act as an independent company until the merger, which is expected to close at the end of Q3 2002, is complete.", "path": "kean-s/deleted_items/325."}, "s1053": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions- 11/20/01", "text": "The Dynegy deal is expected to close sometime next year, and the disclosures yesterday indicate that Enron may face challenges in meeting its obligations before then, particularly if the closing of the deal is delayed. Enron said it hoped to complete the transaction by the end of next September.", "clipped": true, "phrase": "Enron said it hoped to complete the transaction by the end of next September.", "path": "kean-s/deleted_items/410."}, "s1033": {"from": "kathleen.carnahan@enron.com", "to": "kay.mann@enron.com", "subject": "Dynegy CA", "text": "Kay,\n\nAttached is a draft of the Dynegy CA (bilateral).  The only executed bilateral CA we have in place with Dynegy is one prepared on their form.  I have not reviewed it, just talked to Kay Young.", "clipped": false, "phrase": "The only executed bilateral CA we have in place with Dynegy is one prepared on their form.", "path": "mann-k/inbox/320."}, "s1034": {"from": "kathleen.carnahan@enron.com", "to": "kay.mann@enron.com", "subject": "Dynegy CA", "text": "Kay,\n\nAttached is a draft of the Dynegy CA (bilateral).  The only executed bilateral CA we have in place with Dynegy is one prepared on their form.  I have not reviewed it, just talked to Kay Young.", "clipped": false, "phrase": "Attached is a draft of the Dynegy CA (bilateral).", "path": "mann-k/inbox/320."}, "s1035": {"from": "kathleen.carnahan@enron.com", "to": "kay.mann@enron.com", "subject": "Western Resources, Inc. CA", "text": "Kay,\n\nAttached is the proposed CA for Western Resources, Inc. that Rudy requested today.  It is identical to the proposed Dynegy CA.\n\nRudy,  Reagan suggested to use the same form and scope of discussions as the Dynegy CA.  Let Kay and I know if you think there should be any changes.\n\nThanks.\n\nKathleen", "clipped": false, "phrase": "Reagan suggested to use the same form and scope of discussions as the Dynegy CA.", "path": "mann-k/inbox/322."}, "s1055": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions- 11/20/01", "text": "Some debts that Enron might have to pay quickly if its bond rating is lowered could be satisfied by selling shares, but such sales would probably reduce the stock price further. And the merger agreement with Dynegy provides that the exchange ratio would be reduced if Enron sold stock at prices below the implied value under the merger -- currently $11.71 an Enron share. \nIn after-hours trading yesterday, after the release of the Enron filing, the share price slipped to $9.", "clipped": true, "phrase": "the merger agreement with Dynegy provides that the exchange ratio would be reduced if Enron sold stock at prices below the implied value under the merger -- currently $11.71 an Enron share.", "path": "kean-s/deleted_items/410."}, "s1074": {"from": "peggy.mahoney@enron.com", "to": "karen.denne@enron.com, j..kean@enron.com", "subject": "HELP!!!", "text": "Dynegy wrote clauses into its agreement with Enron that allow it to walk away from the deal if the problems at Enron turn out to be far worse than previously disclosed, but Dynegy executives have said it is unlikely those clauses will be invoked. \n\nMalik said that as a trading partner in wholesale energy markets, Reliant will seek further clarification from Enron about its financial position. \n\n``My guess is that they are going to have a hard time coming up with the money,'' he said.", "clipped": true, "phrase": "but Dynegy executives have said it is unlikely those clauses will be invoked.", "path": "kean-s/deleted_items/400."}, "s1048": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions- 11/20/01", "text": "In justifying the all-stock bid, Chuck Watson, chairman of Dynegy, said last week that buying the company for a low price - a fraction of Enron's market capitalisation at its peak in 2000 - was a major protection against failure. \nBut he admitted that much of the last round of negotiations with Moody's had been spent reassuring them that the material adverse change clauses in the merger agreement were not too loose. \nAccording to Dynegy, the material adverse change clauses relate to the outcome of a Securities and Exchange Commission inquiry into Enron's finances, possible litigation against the energy company, balance sheet strength and earnings forecasts. www.ft.com/enron. \n(c) Copyright Financial Times Ltd. All rights reserved. \nhttp://www.ft.com.\nCopyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved. \t\nEnron drops earnings for 3rd quarter", "clipped": true, "phrase": "he admitted that much of the last round of negotiations with Moody's had been spent reassuring them that the material adverse change clauses in the merger agreement were not too loose.", "path": "kean-s/deleted_items/410."}, "s1049": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions- 11/20/01", "text": "But he admitted that much of the last round of negotiations with Moody's had been spent reassuring them that the material adverse change clauses in the merger agreement were not too loose. \nAccording to Dynegy, the material adverse change clauses relate to the outcome of a Securities and Exchange Commission inquiry into Enron's finances, possible litigation against the energy company, balance sheet strength and earnings forecasts. www.ft.com/enron. \n(c) Copyright Financial Times Ltd. All rights reserved. \nhttp://www.ft.com.\nCopyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved. \t\nEnron drops earnings for 3rd quarter \n$690 million debt comes due for downgraded firm \nBy TOM FOWLER \nCopyright 2001 Houston Chronicle \nEnron Corp.'s financial well-being continues to be a moving target as the company made more adjustments to its earnings Monday.", "clipped": true, "phrase": "According to Dynegy, the material adverse change clauses relate to the outcome of a Securities and Exchange Commission inquiry into Enron's finances, possible litigation against the energy company, balance sheet strength and earnings forecasts.", "path": "kean-s/deleted_items/410."}, "s1044": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions- 11/20/01", "text": "Copyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved. \t\n\nFRONT PAGE - COMPANIES & MARKETS - Wall St worries over Enron deal.\nBy ANDREW BALLS, ANDREW HILL and GARY SILVERMAN.\n\n11/20/2001\nFinancial Times\n(c) 2001 Financial Times Limited . All Rights Reserved\nSenior Wall Street bankers are concerned that Dynegy could walk away from its proposed $9.8bn ( #6.8bn) rescue bid for its rival energy group Enron - a move that would have severe repercussions for the energy trading sector and financial markets. \nIn a series of interviews with the Financial Times, bankers expressed worries that while credit rating agencies had been assured that it was extremely difficult for Dynegy to pull out, some of the company's shareholders were under the impression that the \"material adverse change\" clause could be triggered.", "clipped": true, "phrase": "Senior Wall Street bankers are concerned that Dynegy could walk away from its proposed $9.8bn ( #6.8bn) rescue bid for its rival energy group Enron", "path": "kean-s/deleted_items/410."}, "s1045": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions- 11/20/01", "text": "The possibility of Dynegy dropping out of the deal was discussed when senior bankers from JP Morgan Chase and Citigroup, which are advising Enron, met with officials from Moody's, the credit rating agencies, 10 days ago. \nThe rating agency expressed concerns that it would be too easy for Dynegy to give up its bid, further undermining Enron's creditworthiness. \nMoody's decision to preserve Enron's investment grade rating was one of the main reasons why Dynegy was able to go ahead with its rescue bid. \nIn justifying the all-stock bid, Chuck Watson, chairman of Dynegy, said last week that buying the company for a low price - a fraction of Enron's market capitalisation at its peak in 2000 - was a major protection against failure.", "clipped": true, "phrase": "The rating agency expressed concerns that it would be too easy for Dynegy to give up its bid, further undermining Enron's creditworthiness.", "path": "kean-s/deleted_items/410."}, "s1046": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions- 11/20/01", "text": "The rating agency expressed concerns that it would be too easy for Dynegy to give up its bid, further undermining Enron's creditworthiness. \nMoody's decision to preserve Enron's investment grade rating was one of the main reasons why Dynegy was able to go ahead with its rescue bid. \nIn justifying the all-stock bid, Chuck Watson, chairman of Dynegy, said last week that buying the company for a low price - a fraction of Enron's market capitalisation at its peak in 2000 - was a major protection against failure. \nBut he admitted that much of the last round of negotiations with Moody's had been spent reassuring them that the material adverse change clauses in the merger agreement were not too loose.", "clipped": true, "phrase": "Moody's decision to preserve Enron's investment grade rating was one of the main reasons why Dynegy was able to go ahead with its rescue bid.", "path": "kean-s/deleted_items/410."}, "s1089": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions- 11/20/01", "text": "partnership may cut Enron's fourth-quarter earnings, Enron said.\nEnron is obligated to back Whitewing by issuing junior convertible\npreferred stock. Because Enron's stock has plunged, it may have to\nwrite down its assets by $700 million, the filing said.\n\n     Dynegy agreed Nov. 9 to buy Enron in a transaction now valued\nat $25 billion in stock and assumed debt. Both companies are based\nin Houston.\n\n     ChevronTexaco Corp., the second-largest U.S. oil company,\nowns 26 percent of Dynegy and is providing $2.5 billion in cash as\npart of the Enron buyout.\n\n     Shares of ChevronTexaco, based in San Francisco, rose $1.63\nto $84.54.\n\nOptions Report: Traders Wary As Mkt Shows 'Lack Of Fear'\nBy Kopin Tan and Marcelo Prince\nOf DOW JONES NEWSWIRES\n\n11/20/2001\nDow Jones Capital Markets Report\n(Copyright (c) 2001, Dow Jones & Company, Inc.)", "clipped": true, "phrase": "Dynegy agreed Nov. 9 to buy Enron in a transaction now valued\nat $25 billion in stock and assumed debt. Both companies are based\nin Houston.", "path": "kitchen-l/_americas/sec_media/24."}, "s1105": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions- 11/21/01", "text": "Dnevnik daily reported, citing unidentified sources from the State\nEnergy Agency.\n\n     Enron, as well as two German companies, including VDEG, will\nbe invited to bid at a tender for the National Electricity Company\nto select energy trading partners, the paper said. Enron is being\nbought by rival Dynegy Inc. for about $20 billion.\n\n     Currently NEC EAD is the sole exporter of electricity from\nBulgaria, which provides energy to most of its neighbors,\nincluding Serbia, Macedonia, Montenegro, Greece, Kosovo, Albania,\nand Turkey. Last year the country exported electricity worth $117\nmillion to Turkey alone.\n\n     Opening the energy market to competition is part of the\nrequirements for Bulgaria to join the European Union. The", "clipped": true, "phrase": "Enron is being\nbought by rival Dynegy Inc. for about $20 billion.", "path": "kitchen-l/_americas/sec_media/23."}, "s1161": {"from": "karen.denne@enron.com", "to": "j..kean@enron.com, pr <.palmer@enron.com>, meredith.philipp@enron.com,   \tvance.meyer@enron.com, john.ambler@enron.com", "subject": "FW: Media Inquiries (Japan) & Reactive Statement", "text": "(Copyright (c) 2001, Dow Jones & Company, Inc.)\t\n \t\nTOKYO -(Dow Jones)- Enron Corp. (ENE), the struggling U.S. energy trading company, will determine the fate of its Japanese operations within the next few weeks following a review of its global operations, an Enron official said Thursday. \n\nThe move follows an announcement earlier this month that Dynegy Inc. (DYN) plans to purchase Enron in a stock swap deal valued at about $10 billion. Dynegy, which is owned 26% by ChevronTexaco Corp. (CVX), has said the new entity will focus on the core businesses of North American and European wholesale energy markets and commercial and industrial energy users.", "clipped": true, "phrase": "The move follows an announcement earlier this month that Dynegy Inc. (DYN) plans to purchase Enron in a stock swap deal valued at about $10 billion.", "path": "kean-s/deleted_items/454."}, "s1190": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions - 11/26/01", "text": "So two days later, Lay invited Watson to his River Oaks home near downtown Houston for breakfast to discuss a deal. Over muffins and ``a bad cup of coffee'' the next day, Watson recalls, they sketched the outlines, and by 10 p.m. that night, the investment bankers were called in. On Nov. 9, Dynegy announced that it would pay about $10 billion, plus the assumption of $13 billion in debt, to buy Enron, which is nearly four times its size. The key to the deal was Dynegy's immediate $1.5 billion infusion of cash to shore up Enron's balance sheet and save its credit rating. The money came from Dynegy's 26% owner, ChevronTexaco Corp.", "clipped": true, "phrase": "On Nov. 9, Dynegy announced that it would pay about $10 billion, plus the assumption of $13 billion in debt, to buy Enron, which is nearly four times its size.", "path": "kean-s/deleted_items/478."}, "s1040": {"from": "kay.mann@enron.com", "to": "kathleen.carnahan@enron.com", "subject": "RE: Dynegy CA", "text": "I would like to see it before we send them anything.  I'll ask Kay for it.\n\n -----Original Message-----\nFrom: \tCarnahan, Kathleen  \nSent:\tMonday, November 19, 2001 5:37 PM\nTo:\tMann, Kay\nCc:\tRorschach, Reagan\nSubject:\tDynegy CA\n\nKay,\n\nAttached is a draft of the Dynegy CA (bilateral).  The only executed bilateral CA we have in place with Dynegy is one prepared on their form.  I have not reviewed it, just talked to Kay Young.\n\n << File: Dynegy, Inc. and  EPMI Bilateral November 2001 (Entergy control area).doc >>", "clipped": false, "phrase": "I would like to see it before we send them anything.", "path": "mann-k/deleted_items/91."}, "s1063": {"from": "kathleen.carnahan@enron.com", "to": "reagan.rorschach@enron.com", "subject": "FW: Dynegy CA", "text": "Reagan,\n\nKay has approved the attached draft CA for Dynegy.\n\nKathleen\n\n -----Original Message-----\nFrom: \tCarnahan, Kathleen  \nSent:\tMonday, November 19, 2001 5:37 PM\nTo:\tMann, Kay\nCc:\tRorschach, Reagan\nSubject:\tDynegy CA\n\nKay,\n\nAttached is a draft of the Dynegy CA (bilateral).  The only executed bilateral CA we have in place with Dynegy is one prepared on their form.  I have not reviewed it, just talked to Kay Young.", "clipped": false, "phrase": "Kay has approved the attached draft CA for Dynegy.", "path": "mann-k/inbox/329."}, "s1103": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions- 11/21/01", "text": "Yesterday, a Dynegy spokesman wouldn't comment on the status of the pending acquisition, other than to say his company was reviewing Enron's third-quarter financial report, filed with the SEC, as part of continuing \"due diligence.\" Under the proposed acquisition, Dynegy would exchange 0.2685 of its shares for each Enron share. Based on Dynegy's 4 p.m. price yesterday on the Big Board of $41.70 a share, off $1.90, the deal values Enron shares at about $11.20 -- well above the current market price.", "clipped": true, "phrase": "Under the proposed acquisition, Dynegy would exchange 0.2685 of its shares for each Enron share.", "path": "kitchen-l/_americas/sec_media/23."}, "s1134": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions- 11/21/01", "text": "Enron's credit lines are from J.P. Morgan, the investment-banking arm of J.P. Morgan Chase & Co. (JPM), and Salomon Smith Barney, the investment-banking arm of Citigroup Inc. (C). \nEnron also reaffirmed its commitment to the merger with Dynegy Inc. (DYN). On Nov. 9, Enron and Dynegy signed a definitive merger agreement that would give Enron shareholders 0.2685 share of a Dynegy share. The merger is expected to close by the end of the third quarter of 2002. \nOn Monday, Enron filed its Form 10-Q for the third quarter, which reflected a wider loss by 3 cents a share. The energy company previously reported a loss of $618 million, or 84 cents a share, on revenue of $47.6 billion for the third quarter ended Sept. 30. \n-Stephen Lee; Dow Jones Newswires; 201-938-XXXX\n\nCopyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved. \t\nUSA: UPDATE 1-Enron shares fall further on credit concerns.\n\n11/21/2001", "clipped": true, "phrase": "On Nov. 9, Enron and Dynegy signed a definitive merger agreement that would give Enron shareholders 0.2685 share of a Dynegy share. The merger is expected to close by the end of the third quarter of 2002.", "path": "kean-s/deleted_items/447."}, "s1145": {"from": "karen.denne@enron.com", "to": "kenneth.lay@enron.com, mark.frevert@enron.com, greg.whalley@enron.com,   \tj..kean@enron.com, pr <.palmer@enron.com>, mark.koenig@enron.com,   \tjames.derrick@enron.com, rex.rogers@enron.com,   \traymond.bowen@enron.com, jeffrey.mcmahon@enron.", "subject": "Articles", "text": "Meanwhile, Dynegy also tried to rally, although somewhat halfheartedly, investors around its plan to acquire Enron's stock. Dynegy said it was encouraged by reports that Enron closed on its remaining $450 million credit facility and news of the extension of the $690 million loan. Under the terms of the acquisition, Enron holders would receive 0.2685 Dynegy share for each Enron share. \nInvestors, however, remain more circumspect, unmoved by the whopping 104% risk premium currently attached to the merger. (That's how much investors buying Enron shares would make if the deal was closing Wednesday.) \nAside from continued worries about how much bad news may still come, analysts and traders appear particularly concerned with Enron's liquidity, or lack thereof, going forward.", "clipped": true, "phrase": "Under the terms of the acquisition, Enron holders would receive 0.2685 Dynegy share for each Enron share.", "path": "kean-s/deleted_items/460."}, "s1154": {"from": "karen.denne@enron.com", "to": "kenneth.lay@enron.com, mark.frevert@enron.com, greg.whalley@enron.com,   \tj..kean@enron.com, pr <.palmer@enron.com>, mark.koenig@enron.com,   \tjames.derrick@enron.com, rex.rogers@enron.com,   \traymond.bowen@enron.com, jeffrey.mcmahon@enron.", "subject": "Articles", "text": "The merger agreement, announced Nov. 9, calls for Dynegy to exchange 0.2685 share for each of Enron's roughly 850 million fully diluted shares, giving the purchase a value of about $9 billion at Dynegy's current stock price. However, from a price standpoint, the deal is appearing less attractive to Dynegy.", "clipped": true, "phrase": "The merger agreement, announced Nov. 9, calls for Dynegy to exchange 0.2685 share for each of Enron's roughly 850 million fully diluted shares, giving the purchase a value of about $9 billion at Dynegy's current stock price.", "path": "kean-s/deleted_items/460."}, "s1262": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "One apparent sticking point in the talks was arriving at a new stock-exchange ratio. Under the current acquisition agreement, Dynegy would exchange 0.2685 share for each Enron share tendered. Based on yesterday's New York Stock Exchange closing price of $39.25 for Dynegy shares, down $1.15, Enron holders stand to receive $10.53 a share for their stock, or a total of about $9 billion. \nPeople close to the discussions said the new ratio is expected to be less than 0.15 share of Dynegy stock for every share of Enron stock, which would value Enron at less than $6 a share, or about $5 billion.", "clipped": true, "phrase": "Under the current acquisition agreement, Dynegy would exchange 0.2685 share for each Enron share tendered.", "path": "kitchen-l/_americas/sec_media/16."}, "s1119": {"from": "issuealert@scientech.com", "to": "issuealerthtml@listserv.scientech.com", "subject": "Enron Continues to Implode; Will the Dynegy Deal Proceed?", "text": "oposed acquisition of Enron, and Enron's financial problems that precipitated the proposal, please see my 11/12/01 IssueAlert (available at www.scientech.com/rci <http://secure.scientech.com/issuealert/article.asp?id=987>). In the interest of time, let me summarize what is happening at this moment. Dynegy rode in as Enron's white knight and plopped down a $9-billion offer ($10 a share) to buy the company, which at the time represented a steal of a price considering that Enron was priced at almost $90 a share little more than a year ago. To some extent, this seemed like the final chapter in the Enron saga. In other words, the company had gone through a tumultuous year, hit its \"rock bottom\" but still planned to live happily ever after as part of Dynegy, Inc., its much-smaller rival.", "clipped": true, "phrase": "Dynegy rode in as Enron's white knight and plopped down a $9-billion offer ($10 a share) to buy the company", "path": "kean-s/deleted_items/422."}, "s1120": {"from": "issuealert@scientech.com", "to": "issuealerthtml@listserv.scientech.com", "subject": "Enron Continues to Implode; Will the Dynegy Deal Proceed?", "text": "Questions have been raised why Dynegy is not doing more at this time to help Enron out of its financial mess. Of course, under the acquisition agreement Dynegy already committed to providing an immediate $1.5-billion asset-backed equity infusion into Enron to help the company with its current financial woes, which will be followed by an additional infusion of $2.5 billion into the combined company by ChevronTexaco, which owns 27 percent of Dynegy. However, some traders apparently have wondered why Dynegy has not done anything about Enron's diminishing ability to secure power on the open market. Traders claim that Dynegy could step in and buy power from sellers on the behalf of Enron, in a strategy known as \"sleeving.\" The fact that Dynegy has not c", "clipped": true, "phrase": "Dynegy already committed to providing an immediate $1.5-billion asset-backed equity infusion into Enron to help the company with its current financial woes", "path": "kean-s/deleted_items/422."}, "s1191": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions - 11/26/01", "text": "cup of coffee'' the next day, Watson recalls, they sketched the outlines, and by 10 p.m. that night, the investment bankers were called in. On Nov. 9, Dynegy announced that it would pay about $10 billion, plus the assumption of $13 billion in debt, to buy Enron, which is nearly four times its size. The key to the deal was Dynegy's immediate $1.5 billion infusion of cash to shore up Enron's balance sheet and save its credit rating. The money came from Dynegy's 26% owner, ChevronTexaco Corp. \nWithout that help, Enron--the seventh-largest U.S. company, based on its $100 billion in sales last year--may well have faced bankruptcy. Watson says that he never would have imagined such an outcome in his wildest dreams. ``I don't think anybody foresaw the problems [at Enron],'' he says. ``It's been incredible to watch.''", "clipped": true, "phrase": "The key to the deal was Dynegy's immediate $1.5 billion infusion of cash to shore up Enron's balance sheet and save its credit rating. The money came from Dynegy's 26% owner, ChevronTexaco Corp.", "path": "kean-s/deleted_items/478."}, "s1264": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "As part of the original merger agreement, Dynegy already has injected $1.5 billion into Enron, receiving in exchange preferred stock in its Northern Natural Gas Co. pipeline system that runs from the upper Midwest to Texas. Under the agreement, if the acquisition falls apart, Dynegy \"will have the right to acquire 100% of the equity in the Northern Natural Gas subsidiary,\" thus giving it \"the full value of its investment.\"", "clipped": true, "phrase": "Dynegy already has injected $1.5 billion into Enron, receiving in exchange preferred stock in its Northern Natural Gas Co. pipeline system", "path": "kitchen-l/_americas/sec_media/16."}, "s1124": {"from": "issuealert@scientech.com", "to": "issuealerthtml@listserv.scientech.com", "subject": "Enron Continues to Implode; Will the Dynegy Deal Proceed?", "text": "Moreover, Dynegy was smart to include an exit clause in the acquisition agreement. The clause reportedly allows Dynegy to walk away from Enron if any material adverse change occurs related to the outcome of the SEC investigation, possible litigation against Enron, balance sheet strengths, and earnings forecasts. Certainly the latest developments disclosed in Enron's 10-Q filing with the SEC impact the company's balance sheet strengths and earnings forecasts, so a case could be made that Dynegy would have grounds to terminate the acquisition. Clearly, this pending deal hinges on the developments that will take place over the next few weeks. Dynegy ultimately will have to weigh the pros and cons of its acquisition offer for Enron and determine if the once", "clipped": true, "phrase": "The clause reportedly allows Dynegy to walk away from Enron if any material adverse change occurs related to the outcome of the SEC investigation, possible litigation against Enron, balance sheet strengths, and earnings forecasts.", "path": "kean-s/deleted_items/422."}, "s1181": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions - 11/26/01", "text": "Although Dynegy and Enron both say they are going ahead with the deal under the terms negotiated, Dynegy does appear to have other options. The agreement with Enron contains a broad \"material adverse change\" clause as well as some specific trigger points that could be invoked.", "clipped": true, "phrase": "The agreement with Enron contains a broad \"material adverse change\" clause as well as some specific trigger points that could be invoked.", "path": "kean-s/deleted_items/478."}, "s1118": {"from": "issuealert@scientech.com", "to": "issuealerthtml@listserv.scientech.com", "subject": "Enron Continues to Implode; Will the Dynegy Deal Proceed?", "text": "erest are the developments that are more grounded in reality. We know Enron has just lowered its third-quarter earnings, faces a stiff payment of $690 million (due within a week, in fact) and has cast doubt over its 4Q earnings potential. The question of the hour is whether these new financial hits will represent a \"material adverse change\" in the eyes of Dynegy, which still aims to buy Enron but wisely included an exit clause in its purchase contract. The other question is, what happens to Enron if Dynegy leaves it standing at the altar? A terminated marriage agreement would surely cause further reductions to Enron's already-weak credit standing, and it is unknown how the company could recover from another blow to its reputation.", "clipped": true, "phrase": "will represent a \"material adverse change\" in the eyes of Dynegy, which still aims to buy Enron but wisely included an exit clause in its purchase contract", "path": "kean-s/deleted_items/422."}, "s1116": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions- 11/21/01", "text": "Analysts were mixed on whether Enron can survive its latest financial storm and if the dlrs 10.5 billion merger between Enron and its rival Dynegy Inc. - expected to conclude by next summer - will fall apart. \nAndre Meade, head of the U.S. Utility Research for Commerzbank Securities, said he doesn't know if Dynegy is willing to take on Enron's headaches if the value of its core business - energy trading - is reduced or collapses. \n\"The bid by Dynegy gave (Enron) breathing space but it did not solve all their problems,\" Meade said.", "clipped": true, "phrase": "Analysts were mixed on whether Enron can survive its latest financial storm and if the dlrs 10.5 billion merger between Enron and its rival Dynegy Inc. - expected to conclude by next summer - will fall apart.", "path": "kitchen-l/_americas/sec_media/23."}, "s1136": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions- 11/21/01", "text": "JP Morgan Chase vice chairman James Lee said the bank will work with Enron and its other creditor banks \"to develop a plan to strengthen Enron's financial position up to and through its merger with Dynegy\", which is expected to close in the third quarter of 2002. \ncl/gc For more information and to contact AFX: www.afxnews.com and www.afxpress.com\n\nCopyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved. \t\nUSA: Enron secures credit line as shares fall.\n\n11/21/2001\nReuters English News Service\n(C) Reuters Limited 2001.", "clipped": true, "phrase": "to develop a plan to strengthen Enron's financial position up to and through its merger with Dynegy\", which is expected to close in the third quarter of 2002.", "path": "kean-s/deleted_items/447."}, "s1230": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions -  11/23/01", "text": "J. P. Morgan Chase is proud of serving alongside Citigroup as both lead lender and adviser to Enron on its acquisition by Dynegy, the dual role it has worked to achieve sometimes proves complicated for the bank. With Enron's shares in free fall as more information comes out about its hidden debts, J. P. Morgan Chase has been scrambling to maintain the support of other banks while simultaneously keeping the merger with Dynegy on track. \nThanks largely to the slump on Wall Street, J. P. Morgan Chase's profits fell by two-thirds in the third quarter, to $449 million from $1.4 billion in the period a year ago. Its stock has dropped 15 percent this year, more than other banks' shares. The bank's stock is ahead of investment banks like Goldman Sachs, with which J. P. Morgan Chase increasingly competes.", "clipped": true, "phrase": "J. P. Morgan Chase has been scrambling to maintain the support of other banks while simultaneously keeping the merger with Dynegy on track.", "path": "kean-s/deleted_items/477."}, "s1152": {"from": "karen.denne@enron.com", "to": "kenneth.lay@enron.com, mark.frevert@enron.com, greg.whalley@enron.com,   \tj..kean@enron.com, pr <.palmer@enron.com>, mark.koenig@enron.com,   \tjames.derrick@enron.com, rex.rogers@enron.com,   \traymond.bowen@enron.com, jeffrey.mcmahon@enron.", "subject": "Articles", "text": "Under the merger agreement, Dynegy has opportunities to renegotiate or walk away from the deal if Enron's financial and legal problems become severe enough. However, some observers said it can be difficult to invoke these so-called material adverse change clauses. They point to a decision earlier this year by a Delaware Chancery Court judge who forced Tyson Foods Inc. to complete a planned purchase of IBP Inc. even though Tyson, a Springdale, Ark., food-products company, had wanted to cancel the transaction because of a drop in IBP's earnings and accounting problems at an IBP unit.", "clipped": true, "phrase": "Under the merger agreement, Dynegy has opportunities to renegotiate or walk away from the deal if Enron's financial and legal problems become severe enough.", "path": "kean-s/deleted_items/460."}, "s1231": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions -  11/23/01", "text": "Under the merger agreement, Dynegy has opportunities to renegotiate or walk away from the deal if Enron's financial and legal problems become severe enough. However, some observers said it can be difficult to invoke these so-called material adverse change clauses. They point to a decision earlier this year by a Delaware Chancery Court judge who forced Tyson Foods Inc. to complete a planned purchase of IBP Inc. even though Tyson, a Springdale, Ark., food-products company, had wanted to cancel the transaction because of a drop in IBP's earnings and accounting problems at an IBP unit.", "clipped": true, "phrase": "Under the merger agreement, Dynegy has opportunities to renegotiate or walk away from the deal if Enron's financial and legal problems become severe enough.", "path": "kean-s/deleted_items/477."}, "s1153": {"from": "karen.denne@enron.com", "to": "kenneth.lay@enron.com, mark.frevert@enron.com, greg.whalley@enron.com,   \tj..kean@enron.com, pr <.palmer@enron.com>, mark.koenig@enron.com,   \tjames.derrick@enron.com, rex.rogers@enron.com,   \traymond.bowen@enron.com, jeffrey.mcmahon@enron.", "subject": "Articles", "text": "Dynegy officials didn't return calls seeking comment. To complete the deal, two-thirds of Dynegy shareholders and a majority of Enron shareholders would have to give their approval. No dates for those votes have been set. \nOne person familiar with the merger plans said the SEC filing Monday by Enron contained information Dynegy hadn't known about. Dynegy representatives planned to work through the weekend evaluating the importance of this new information as part of the company's due diligence, this person said. It couldn't be determined what the new information was.", "clipped": true, "phrase": "To complete the deal, two-thirds of Dynegy shareholders and a majority of Enron shareholders would have to give their approval. No dates for those votes have been set.", "path": "kean-s/deleted_items/460."}, "s1158": {"from": "karen.denne@enron.com", "to": "kenneth.lay@enron.com, mark.frevert@enron.com, greg.whalley@enron.com,   \tj..kean@enron.com, pr <.palmer@enron.com>, mark.koenig@enron.com,   \tjames.derrick@enron.com, rex.rogers@enron.com,   \traymond.bowen@enron.com, jeffrey.mcmahon@enron.", "subject": "Articles", "text": "The slide in Enron's stock (ENE/NYSE) has already wiped out US$67-billion in shareholder wealth. Now it may lose its last lifeline, a US$7.93-billion takeover offer from Dynegy Inc. \nEnron's fall is proving to be more than just a cautionary tale about sketchy accounting. The case is raising serious questions about the responsibility of analysts who strongly recommended a stock that many now admit they never really understood.", "clipped": true, "phrase": "Now it may lose its last lifeline, a US$7.93-billion takeover offer from Dynegy Inc.", "path": "kean-s/deleted_items/460."}, "s1237": {"from": "carlos.sole@enron.com", "to": "kay.mann@enron.com", "subject": "ENE", "text": "Talks on $1 Billion \nEnron said late last week talks are continuing with potential investors for as much as $1 billion. The company agreed to be bought by Dynegy on Nov. 9 for stock and assumed debt, halting a financial crisis that threatened to bankrupt Enron and throw U.S. power and natural-gas markets into turmoil. \nShares of Enron fell 54 cents, or 11 percent, to $4.17 in late-morning trading. Earlier, they touched $4.02. Dynegy fell $1.03 to $39.37. The stock had fallen 28 percent this year. Both companies are based in Houston.", "clipped": true, "phrase": "The company agreed to be bought by Dynegy on Nov. 9 for stock and assumed debt, halting a financial crisis that threatened to bankrupt Enron", "path": "mann-k/deleted_items/139."}, "s1247": {"from": "heather.kroll@enron.com", "to": "kay.mann@enron.com", "subject": "RE: ENE", "text": "Talks on $1 Billion \nEnron said late last week talks are continuing with potential investors for as much as $1 billion. The company agreed to be bought by Dynegy on Nov. 9 for stock and assumed debt, halting a financial crisis that threatened to bankrupt Enron and throw U.S. power and natural-gas markets into turmoil. \nShares of Enron fell 54 cents, or 11 percent, to $4.17 in late-morning trading. Earlier, they touched $4.02. Dynegy fell $1.03 to $39.37. The stock had fallen 28 percent this year. Both companies are based in Houston.", "clipped": true, "phrase": "The company agreed to be bought by Dynegy on Nov. 9 for stock and assumed debt, halting a financial crisis that threatened to bankrupt Enron", "path": "mann-k/deleted_items/140."}, "s1201": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions - 11/24/01 - 11/25/01", "text": "Dynegy agreed on Nov. 9 to buy Enron through a stock swap valued at about $9 billion and to inject $2.5 billion into crumbling Enron provided by cash-rich ChevronTexaco Corp., the San Francisco-based oil company that owns nearly 27% of Dynegy. But a continuing trickle of disturbing financial disclosures keep slamming Enron's stock price, indicating that investors have their doubts that the deal will be completed as negotiated. \nThe Enron purchase would hurl Dynegy, which is about a quarter of Enron's size, into the top ranks of energy merchants.", "clipped": true, "phrase": "Dynegy agreed on Nov. 9 to buy Enron through a stock swap valued at about $9 billion and to inject $2.5 billion into crumbling Enron provided by cash-rich ChevronTexaco Corp.", "path": "kitchen-l/_americas/sec_media/20."}, "s1184": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions - 11/26/01", "text": "The Enron-Dynegy merger agreement includes several triggers permitting either side to seek termination. Enron can quit the deal if it receives a substantially better offer, although it is prohibited from soliciting one. In such a case, it could be required to pay a $350 million \"topper fee\" to Dynegy and its co-investor, ChevronTexaco Inc. \nDynegy can alter the deal if Enron faces \"pending or threatened\" litigation liabilities that are \"reasonably likely\" to cost Enron $2 billion. If those liabilities hit $3.5 billion \"an Enron material event will be deemed to have occurred,\" presumably allowing Dynegy to call the whole thing off. In some situations, Dynegy would be liable for a $350 million fee, as well.", "clipped": true, "phrase": "In such a case, it could be required to pay a $350 million \"topper fee\" to Dynegy and its co-investor, ChevronTexaco Inc.", "path": "kean-s/deleted_items/478."}, "s1185": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions - 11/26/01", "text": "Dynegy can alter the deal if Enron faces \"pending or threatened\" litigation liabilities that are \"reasonably likely\" to cost Enron $2 billion. If those liabilities hit $3.5 billion \"an Enron material event will be deemed to have occurred,\" presumably allowing Dynegy to call the whole thing off. In some situations, Dynegy would be liable for a $350 million fee, as well.", "clipped": true, "phrase": "Dynegy can alter the deal if Enron faces \"pending or threatened\" litigation liabilities that are \"reasonably likely\" to cost Enron $2 billion.", "path": "kean-s/deleted_items/478."}, "s1186": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions - 11/26/01", "text": "its terms. Instead, they say, Dynegy would likely have to prove that Enron's worsening financial condition was an unanticipated event, which could be difficult in light of the company's highly publicized problems and Dynegy's frequent statement that it clearly understands Enron's businesses. Still, there is another standard clause in the merger document that would allow Dynegy to terminate the deal if \"any representation or warranty of Enron shall have become untrue.\"", "clipped": true, "phrase": "there is another standard clause in the merger document that would allow Dynegy to terminate the deal if \"any representation or warranty of Enron shall have become untrue.\"", "path": "kean-s/deleted_items/478."}, "s1224": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions -  11/23/01", "text": "Such a ratcheting down wouldn't be without precedent in the deal. According to one person familiar with the merger negotiations, Dynegy reduced the exchange formula at least once prior to the Nov. 9 announcement because of Enron's rapidly sinking stock price, which at the beginning of this year was above $80 a share.", "clipped": true, "phrase": "According to one person familiar with the merger negotiations, Dynegy reduced the exchange formula at least once prior to the Nov. 9 announcement because of Enron's rapidly sinking stock price", "path": "kean-s/deleted_items/477."}, "s1180": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions - 11/26/01", "text": "With the stock market telling Dynegy Inc. that energy trader Enron Corp. isn't worth even half what Dynegy has offered to pay, analysts and investors are paying close attention to the circumstances under which Dynegy could bargain a lower price or even walk away from the merger deal. \nEarlier this month, Houston-based Dynegy offered to buy its far larger cross-town rival in an all-stock deal that currently values Enron shares at $10.85 apiece, or a total of about $9.2 billion. But in the wake of post-agreement disclosures by Enron that its future earnings are likely to be substantially less than expected, the company's stock has been hammered. In 1 p.m. trading on the New York Stock Exchange on Friday, Enron shares fell 30 cents to $4.71. The stock is down 94% so far this year and far short of the per-share takeover price. Dynegy shares rose 64 cents to $40.40.", "clipped": true, "phrase": "Earlier this month, Houston-based Dynegy offered to buy its far larger cross-town rival in an all-stock deal that currently values Enron shares at $10.85 apiece, or a total of about $9.2 billion.", "path": "kean-s/deleted_items/478."}, "s1253": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions- 11/26/01", "text": "Under the terms of the transaction, Enron shareholders are to receive 0.2685 of a Dynegy share for each share outstanding, or about $8.98 billion, based on Dynegy's recent stock price. \nAt Enron's recent level, the stock is trading at a 64% discount to the Dynegy offer. \nNeither Sousa or Denne would comment on the stock movement. \nDynegy has already provided Enron with a $1.5 billion cash infusion that is secured by Enron's pipeline assets. While that investment has helped Enron's near-term liquidity position, it remains unclear how long the company can remain solvent without any added investments.", "clipped": true, "phrase": "Under the terms of the transaction, Enron shareholders are to receive 0.2685 of a Dynegy share for each share outstanding, or about $8.98 billion, based on Dynegy's recent stock price.", "path": "kean-s/deleted_items/504."}, "s1257": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions- 11/26/01", "text": "Part of the problem is undoubtedly the continuing fear among investors that Dynegy's agreement to buy Enron will fall apart, and the belief that Enron will have to file for bankruptcy if it does, in which case Enron shareholders would be hard-pressed to realize any value. The Dynegy deal now amounts to about $10.60 per Enron share, itself well under Enron's book value; the huge premium that level offers over Enron's current stock price is an indication of the big risk investors see that the deal won't be consummated in its current form.", "clipped": true, "phrase": "The Dynegy deal now amounts to about $10.60 per Enron share, itself well under Enron's book value", "path": "kean-s/deleted_items/504."}, "s1265": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "As part of the original merger agreement, Dynegy already has injected $1.5 billion into Enron, receiving in exchange preferred stock in its Northern Natural Gas Co. pipeline system that runs from the upper Midwest to Texas. Under the agreement, if the acquisition falls apart, Dynegy \"will have the right to acquire 100% of the equity in the Northern Natural Gas subsidiary,\" thus giving it \"the full value of its investment.\"", "clipped": true, "phrase": "if the acquisition falls apart, Dynegy \"will have the right to acquire 100% of the equity in the Northern Natural Gas subsidiary,\" thus giving it \"the full value of its investment.\"", "path": "kitchen-l/_americas/sec_media/16."}, "s1300": {"from": "announcements.enron@enron.com", "to": "dl-ga-all_enron_worldwide6@enron.com", "subject": "Enron/Dynegy Merger; Antitrust Issues", "text": "As you know, Enron has signed a merger agreement by which Dynegy will acquire Enron.  We expect the transaction to close following shareholder and regulatory approvals and various conditions to closing.", "clipped": true, "phrase": "Enron has signed a merger agreement by which Dynegy will acquire Enron.  We expect the transaction to close following shareholder and regulatory approvals and various conditions to closing.", "path": "kean-s/inbox/83."}, "s1316": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "Talks between Enron and Dynegy began in earnest over the weekend to cut the price of the all-stock transaction after Enron's share price had plummeted in the wake of disclosures that its future earnings wouldn't be as high as originally anticipated. On Nov. 9, Dynegy originally agreed to buy Enron after the emergence of damaging revelations concerning a series of deals that allowed Enron executives to profit personally at the expense of the company and its shareholders. Those deals are now the subject of a Securities and Exchange Commission investigation.", "clipped": true, "phrase": "On Nov. 9, Dynegy originally agreed to buy Enron after the emergence of damaging revelations concerning a series of deals", "path": "kitchen-l/_americas/sec_media/14."}, "s1276": {"from": "elizabeth.tilney@enron.com", "to": "pr <.palmer@enron.com>, j..kean@enron.com", "subject": "Enron Corp.: Dynegy Confirms -3: Deal May Be Cut More Than 40% -WSJ", "text": "discussions to cut the price of the all-stock transaction by more than\n40% to about $5 billion.   Sousa, the Dynegy spokesman, didn't comment\non the newspaper report.\n\n  Dynegy shares recently traded at $40, up 75 cents, or 1.9%, while\nEnron shares changed hands at $3.94, down 7 cents, or 1.7%.\n  Under the original terms of the transaction, Enron shareholders are to\nreceive 0.2685 of a Dynegy share, or $10.78, for each share outstanding,\nor about $9.14 billion, based on Dynegy's recent stock price.\n\n  According to the Journal report, the new terms could be below 0.15 of\na Dynegy share.\n\n  The deal is critical for Enron, which also simultaneously carrying out\ntalks to receive between $500 million to $1 billion in additional\nfunding to support its operations, while carrying on negotiations to\nrestructure its debt, which totals about $13 billion.", "clipped": true, "phrase": "Under the original terms of the transaction, Enron shareholders are to\nreceive 0.2685 of a Dynegy share, or $10.78, for each share outstanding,\nor about $9.14 billion", "path": "kean-s/deleted_items/501."}, "s1288": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions- 11/27/01", "text": "\"I can confirm that we are in discussions with the parties involved in the transaction related to the deal,\" Dynegy spokesman John Sousa told Reuters. He declined to give further details.\nDynegy had planned to buy its Houston rival for $9 billion in stock and is currently in a \"due diligence\" examination of Enron's complex financial books that began before the Thanksgiving holiday last Thursday. \nThe buyout offer, finalized Nov. 9, would have had Dynegy paying about $10.41 for each share of Enron, but Enron's shares have since cratered to near $4, stoking investor fears the merger will not go through as planned - if at all.", "clipped": true, "phrase": "Dynegy had planned to buy its Houston rival for $9 billion in stock and is currently in a \"due diligence\" examination of Enron's complex financial books", "path": "kean-s/deleted_items/505."}, "s1277": {"from": "elizabeth.tilney@enron.com", "to": "pr <.palmer@enron.com>, j..kean@enron.com", "subject": "Enron Corp.: Dynegy Confirms -3: Deal May Be Cut More Than 40% -WSJ", "text": "---------------------- Forwarded by Elizabeth Tilney/HOU/EES on 11/27/2001 11:54 AM ---------------------------\n\nPeggy Mahoney\n11/27/2001 11:45 AM\nTo:\tElizabeth Tilney/HOU/EES@EES\ncc:\t \nSubject:\tEnron Corp.: Dynegy Confirms -3: Deal May Be Cut More Than 40% -WSJ\n\nDoesn't have the facts about 401K.  Need to move fast. \n---------------------- Forwarded by Peggy Mahoney/HOU/EES on 11/27/2001 11:45 AM ---------------------------\n\ndjcustomclips@djinteractive.com on 11/27/2001 10:18:51 AM\nPlease respond to nobody@mail1.djnr.com\nTo:\t1529@WCTOPICS.djnr.com\ncc:\t \nSubject:\tEnron Corp.: Dynegy Confirms -3: Deal May Be Cut More Than 40% -WSJ\n\nDynegy Confirms -3: Deal May Be Cut More Than 40% -WSJ\n\n11/27/2001\nDow Jones News Service\n(Copyright (c) 2001, Dow Jones & Company, Inc.)\n\n  Earlier Tuesday, a report in The Wall Street Journal quoted people\nfamiliar with the matter who said Enron and Dynegy we", "clipped": true, "phrase": "the clause that allows Dynegy to walk away from the deal if the liabilities\nfrom \"pending\"' or \"threatened\" litigation may exceed $3.5 billion may\nbe invoked", "path": "kean-s/deleted_items/501."}, "s1345": {"from": "peggy.mccurley@enron.com", "to": "louise.kitchen@enron.com", "subject": "An article from CBS.MarketWatch.com", "text": "y that the two companies were discussing a new deal structure, and it said ahead of the credit-ratings and eventual termination news Wednesday that discussions were continuing.  \"I'm not aware of any changes in any status of the merger,\" Dynegy spokesman John Sousa said before the S&P announcement. The merger agreement contained a material adverse-affect clause that, if triggered, allowed Dynegy to walk away from the deal.  The decline in Enron's stock price and information contained in the company's 10-Q filing of Nov. 19 could had activated the clause, but Olson said the S&P downgrade clearly fit the description of a material adverse affect.   Also Wednesday, UBS Warburg and RBC Capital cut their ratings on Enron, to \"hold\" from \"strong buy\" and from \"strong buy\" to \"buy-speculative,\" respectively.  Lisa Sanders is a Dallas-based reporter for CBS.MarketWatch.com", "clipped": true, "phrase": "The merger agreement contained a material adverse-affect clause that, if triggered, allowed Dynegy to walk away from the deal.", "path": "kitchen-l/_americas/esvl/426."}, "s1350": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "Dynegy, off $4.92 at $35.97, pulled out of its deal to rescue Enron, saying conditions had changed since the takeover was agreed on almost three weeks ago. Dynegy had planned to buy its rival for about $9 billion in stock, but the collapse of Enron's stock led Dynegy to invoke escape clauses allowing it to get out of the deal. \nJ.P. Morgan, down $2.30 at $37.50, and Citigroup, down $2.75 at $47.80, pulled the Dow down as investors worried over their exposure to Enron, which could be facing bankruptcy. The two investment banks accounted for more than one-fifth of the blue-chip Dow's losses.", "clipped": true, "phrase": "Dynegy had planned to buy its rival for about $9 billion in stock, but the collapse of Enron's stock led Dynegy to invoke escape clauses allowing it to get out of the deal.", "path": "kitchen-l/_americas/sec_media/12."}, "s1286": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions- 11/27/01", "text": "Traders and brokers said they hope Dynegy will offer some kind of guarantee to Enron's trading to restore confidence. But, after Enron's ability to transact took a severe turn for the worse Nov. 20, Dynegy said that the companies must continue to operate independently until their merger is approved and completed. \nEnergy companies began shying away from Enron over the past month, as concerns about its finances precipitated a 75% drop in its stock price and left its bonds trading at levels typically associated with junk-rated debt.", "clipped": true, "phrase": "Dynegy said that the companies must continue to operate independently until their merger is approved and completed", "path": "kean-s/deleted_items/505."}, "s1304": {"from": "no.address@enron.com", "to": "louise.kitchen@enron.com", "subject": "Merger Agreement", "text": "Louise,\n \nI spoke with Travis this afternoon and received clarification regarding the notification provison for asset sales as discussed in Section 7 of the Dynegy merger agreement.  Travis agreed no notification is required for the sale of assets listed on Schedule 7.1.  Notifcation is needed for required asset sales as part of a regulatory requirement.\n \nDon", "clipped": false, "phrase": "Travis agreed no notification is required for the sale of assets listed on Schedule 7.1.  Notifcation is needed for required asset sales as part of a regulatory requirement.", "path": "kitchen-l/_americas/sec/4."}, "s1314": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "llion. This would compare with the original value of $10.98 a share, or $9.33 billion. In exchange for reducing the purchase price, some members of the Enron team were insisting on more control over the merged company. Dynegy also was considering an additional $250 million cash investment in Enron. Dynegy, together with ChevronTexaco Inc., has already injected $1.5 billion into Enron in an effort to stabilize the company. \nTalks between Enron and Dynegy were said to be tense and occasionally acrimonious. \nAt 4 p.m., Enron shares were up 10 cents to $4.11, while Dynegy shares were up $1.64 to $40.89, in New York Stock Exchange composite trading.", "clipped": true, "phrase": "Dynegy, together with ChevronTexaco Inc., has already injected $1.5 billion into Enron in an effort to stabilize the company.", "path": "kitchen-l/_americas/sec_media/14."}, "s1367": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions- 11/29/01", "text": "and directors, he said.\n\n                             Liability\n\n     Dynegy might face some liability for canceling its purchase\nof Enron. Dynegy invoked terms of the buyout agreement that gave\nit the right to purchase an Enron natural gas pipeline if the\ntakeover fell apart. Dynegy received the right to the pipeline in\nexchange for a $1.5 billion investment in Enron by ChevronTexaco\nCorp., which owns one-fourth of Dynegy.\n\n     Enron might use bankruptcy to prevent Dynegy from walking\naway from the buyout and claiming ownership to the pipeline.\n\n     The Dynegy acquisition, valued at $23 billion when it was\nproposed on Nov. 9, collapsed as bankers failed to raise the $1.5\nbillion Enron needed to operate until the deal was completed. The\nlack of funds and a credit downgrade contributed to Dynegy's\ndecision.", "clipped": true, "phrase": "Dynegy received the right to the pipeline in\nexchange for a $1.5 billion investment in Enron by ChevronTexaco\nCorp., which owns one-fourth of Dynegy.", "path": "kitchen-l/_americas/sec_media/9."}, "s710": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "Enron also is expected today to disclose more financial dealings about the partnerships. A person close to Dynegy said the potential acquirer feels it understands Enron's business and is apprised of the liabilities, which have been factored into the transaction.", "clipped": true, "phrase": "A person close to Dynegy said the potential acquirer feels it understands Enron's business and is apprised of the liabilities, which have been factored into the transaction.", "path": "kitchen-l/_americas/sec_media/44."}, "s713": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "In addition to both companies' very large presence in energy trading, Enron owns the Portland General Electric Company, a utility in Oregon it had already agreed to sell, and Dynegy owns the Illinova Corporation, a retail electricity and natural gas utility in Illinois. \nRegulators may take a hard look at those utilities in reviewing a merger deal, said Jeff Dietert, an analyst with Simmons & Company in Houston. ''Then you've got concerns about market power,'' he said. ''It's just a lot of different issues to deal with before we get too excited that this deal is going to get done.''", "clipped": true, "phrase": "Dynegy owns the Illinova Corporation, a retail electricity and natural gas utility in Illinois", "path": "kitchen-l/_americas/sec_media/44."}, "s723": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions", "text": "A merger would require approvals from the Federal Energy Regulatory Commission, Securities and Exchange Commission, Department of Justice and Federal Trade Commission. And the Illinois Commerce Commission likely would weigh into the mix, since Dynegy owns Illinova's Illinois Power Co. \nAny effort to strike a deal quickly also could be complicated by Enron's ownership of Portland General Electric Co. While Enron has entered into an agreement to sell the utility to Northwest Natural Gas Co. (NWN), a previous attempt to sell the company fell through because of regulatory complications.", "clipped": true, "phrase": "And the Illinois Commerce Commission likely would weigh into the mix, since Dynegy owns Illinova's Illinois Power Co.", "path": "kitchen-l/_americas/sec_media/43."}, "s722": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions", "text": "Any equity deal would require approvals from numerous U.S. federal regulatory agencies and state utility regulators, as well as survive Canadian and European antitrust reviews, energy attorneys contacted by Dow Jones Newswires said. \nA merger would require approvals from the Federal Energy Regulatory Commission, Securities and Exchange Commission, Department of Justice and Federal Trade Commission. And the Illinois Commerce Commission likely would weigh into the mix, since Dynegy owns Illinova's Illinois Power Co. \nAny effort to strike a deal quickly also could be complicated by Enron's ownership of Portland General Electric Co. While Enron has entered into an agreement to sell the utility to Northwest Natural Gas Co. (NWN), a previous attempt to sell the company fell through because of regulatory complications.", "clipped": true, "phrase": "A merger would require approvals from the Federal Energy Regulatory Commission, Securities and Exchange Commission, Department of Justice and Federal Trade Commission.", "path": "kitchen-l/_americas/sec_media/43."}, "s1006": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions - 11/19/01", "text": "Now the question is how ownership of energy trading services will be calculated. It could be difficult to assess if the companies are exerting market power because information on the trading books of companies such as Enron and Dynegy is closely guarded, she said. \nThe two companies must also win consent from either the Justice Department or the Federal Trade Commission, and from states where the companies have pipelines and provide retail services. \n(c) Copyright Financial Times Ltd. All rights reserved. \nhttp://www.ft.com.\n\nCopyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved. \t\n\nFund Track\nRussia Fund Surges Amid Global Woes\nBy Victoria Marcinkowski\nDow Jones Newswires\n\n11/19/2001\nThe Wall Street Journal\nC17\n(Copyright (c) 2001, Dow Jones & Company, Inc.)", "clipped": true, "phrase": "The two companies must also win consent from either the Justice Department or the Federal Trade Commission, and from states where the companies have pipelines and provide retail services.", "path": "kean-s/deleted_items/368."}, "s761": {"from": "chairman.ken@enron.com", "to": "dl-ga-all_enron_worldwide5@enron.com", "subject": "Enron Announces Plans to Merge with Dynegy", "text": "Management from Enron and Dynegy will work together to ensure a smooth, efficient integration.  The make-up of the integration team has not yet been determined.\n\nThe merger will be a long and complex process and is expected to close by the end of the third quarter 2002.  This merger will create an enormous growth engine, providing great opportunities for our employees, shareholders and customers.  As with any merger, some elimination of positions is almost inevitable, and one of our key tasks will be to identify the optimal structure of the new company.  We hope to be able to address any need for work force reductions through attrition and hiring reductions.  Clearly, we cannot rule out involuntary separation,", "clipped": true, "phrase": "The merger will be a long and complex process and is expected to close by the end of the third quarter 2002.", "path": "jones-t/inbox/944."}, "s742": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "It was clear yesterday there would be opposition to the deal. ''If Dynegy and Enron were to get together, obviously the thing that would appeal to Dynegy would be to combine the trading function of the two entities, and that in itself would provide greater market power, not less market power,'' said Raymond Plank, chairman of the Apache Corporation, one of the largest independent natural gas producers, based in Houston.", "clipped": true, "phrase": "If Dynegy and Enron were to get together, obviously the thing that would appeal to Dynegy would be to combine the trading function of the two entities", "path": "kitchen-l/_americas/sec_media/42."}, "s743": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "''If not for the dire condition of Enron today, we are not certain an Enron-Dynegy merger would be possible due to antitrust concerns,'' said Christopher R. Ellinghaus, an analyst at Williams Capital. ''However, the effective industry bailout that the merger would represent would probably lead to some leniency from the F.T.C., and would probably be looked at with some relief by the F.E.R.C.''", "clipped": true, "phrase": "''If not for the dire condition of Enron today, we are not certain an Enron-Dynegy merger would be possible due to antitrust concerns,''", "path": "kitchen-l/_americas/sec_media/42."}, "s748": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions", "text": "Wall Street holds billions in Enron debt, which Dynegy is fully aware of. But Dynegy might be getting more than it's bargaining for, particularly regarding Enron's numerous obligations to deliver its own shares in the future at minimum values. \nSEC Probe Complicates Deals Based On Stock \n\nAny company that acquires Enron may have to make good on those commitments to issue stock pegged to values much higher than $9.50 a share, or perhaps to make up the difference in cash.", "clipped": true, "phrase": "But Dynegy might be getting more than it's bargaining for, particularly regarding Enron's numerous obligations to deliver its own shares in the future at minimum values.", "path": "kitchen-l/_americas/sec_media/41."}, "s749": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions", "text": "Because these deals are done through private placements of debt, Enron doesn't have to answer questions, and it has declined to do so. Dynegy also refused to answer questions on the issue. \nOne Wall Street equity derivatives trading manager indicated that all the banks have found themselves \"unexpectedly short in-the-money puts\" on Enron. Unexpectedly, perhaps, not just because Enron stock has fallen so far, but because the SEC investigation prevents Enron from issuing additional shares.", "clipped": true, "phrase": "Dynegy also refused to answer questions on the issue.", "path": "kitchen-l/_americas/sec_media/41."}, "s750": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions", "text": "If Dynegy buys Enron, it may be stepping into the middle of those arrangements, letting Wall Street off the hook. \nDynegy competitor El Paso Corp. (EPG) and ChevronTexaco rival Royal Dutch/Shell (RD) reportedly took a look at acquiring Enron last week and passed. Is Dynegy smarter than El Paso? Is Chevron smarter than Shell? \nTrue Dynegy believers better hope so. \n-By Mark Golden, Dow Jones Newswires; 201-938-XXXX; mark.golden@dowjones.com\n\nCopyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved. \t\n\nUSA: UPDATE 1-Enron's rating cut, woes finally hit trading floor.\nBy Janet McGurty\n\n11/09/2001\nReuters English News Service\n(C) Reuters Limited 2001.", "clipped": true, "phrase": "Dynegy competitor El Paso Corp. (EPG) and ChevronTexaco rival Royal Dutch/Shell (RD) reportedly took a look at acquiring Enron last week and passed.", "path": "kitchen-l/_americas/sec_media/41."}, "s768": {"from": "karen.denne@enron.com", "to": "kenneth.lay@enron.com, mark.frevert@enron.com, jeffrey.mcmahon@enron.com,   \trick.buy@enron.com, richard.causey@enron.com,   \tjames.derrick@enron.com, j..kean@enron.com, mark.koenig@enron.com,   \twes.colwell@enron.com, paula.rieker@enron.co", "subject": "Merger News Articles", "text": "Charles L. Watson, Dynegy's chairman and chief executive, said yesterday that Dynegy could sort through Enron's tangled finances. ''We know the company well,'' Mr. Watson said. ''It's not like we just started fresh. I'm confident that it's as solid as we thought it was.''", "clipped": true, "phrase": "''We know the company well,'' Mr. Watson said.", "path": "kitchen-l/_americas/sec/19."}, "s767": {"from": "karen.denne@enron.com", "to": "kenneth.lay@enron.com, mark.frevert@enron.com, jeffrey.mcmahon@enron.com,   \trick.buy@enron.com, richard.causey@enron.com,   \tjames.derrick@enron.com, j..kean@enron.com, mark.koenig@enron.com,   \twes.colwell@enron.com, paula.rieker@enron.co", "subject": "Merger News Articles", "text": "For critics who had complained about Enron's market power and its dominance, the combination poses additional concerns. Dynegy's acquisition of Enron will be reviewed by state and federal agencies, led by the Justice Department and the Federal Energy Regulatory Commission. Analysts said today that they expected scrutiny of the combined companies' holdings in California, where Dynegy owns power-generating plants and Enron accounts for much of the trading of natural gas -- fuel for the state's electric power plants.", "clipped": true, "phrase": "Dynegy's acquisition of Enron will be reviewed by state and federal agencies, led by the Justice Department and the Federal Energy Regulatory Commission.", "path": "kitchen-l/_americas/sec/19."}, "s770": {"from": "karen.denne@enron.com", "to": "kenneth.lay@enron.com, mark.frevert@enron.com, jeffrey.mcmahon@enron.com,   \trick.buy@enron.com, richard.causey@enron.com,   \tjames.derrick@enron.com, j..kean@enron.com, mark.koenig@enron.com,   \twes.colwell@enron.com, paula.rieker@enron.co", "subject": "Merger News Articles", "text": "Mr. Watson said the company did not expect to sell significant properties and that the deal should pass regulatory scrutiny. ''There's really not a lot of overlap in assets,'' he said. \n\nMr. Watson and Steve Bergstrom, Dynegy's president, will hold those positions in the new company, which will be called Dynegy and remain in Houston. Mr. Lay, who created Enron in the mid-1980's, will not have any role in the combined company's daily operations. He has been asked to join its board but has not provided an answer. ''The last three weeks haven't been a lot of fun,'' he said.", "clipped": true, "phrase": "''There's really not a lot of overlap in assets,'' he said.", "path": "kitchen-l/_americas/sec/19."}, "s818": {"from": "hemery@firstunion1.com", "to": "undisclosed-recipients@enron.com", "subject": "Dynegy/Enron-CS First Boston Research", "text": "multiples as about 7x '02 eps, 3.2x '02 cash flow, 0.85x book value and 5x\nEV/EBITDA based on our revised '02 estimates for ENE.\n\nWe would note that DYN has projected a pro-forma '02 of $3.40-$3.50 per share\nbefore cost savings and synergies.\n\nWe expect the deal to close in 9-12 months pending reviews by the SEC, FTC, FERC\nand state PSCs. Despite the size of the combined company, we do not expect major\ndivestitures or closing issues because of the lack of asset concentration and\nthe inherent competitiveness of the natural gas and power marketing business.\n\nIn a report dated Nov 5, we valued ENE at $31 per share. In our view, the deal\nvaluation includes a differential of $20 per share or $17 billion to account for", "clipped": true, "phrase": "We expect the deal to close in 9-12 months pending reviews by the SEC, FTC, FERC\nand state PSCs.", "path": "kean-s/dynegy_transaction/3."}, "s872": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "While the proposed combination faces months of review by government agencies and gives Dynegy possible opportunities to cancel the deal, investors' initial reaction to the merger announcement was positive. As of 4 p.m. in New York Stock Exchange composite trading, Dynegy shares were at $44.31, up $5.55, or 14%. Also on the Big Board, Enron was at $9.24, up 7.1%, or 61 cents. Both companies were among the most actively traded issues.", "clipped": true, "phrase": "the proposed combination faces months of review by government agencies and gives Dynegy possible opportunities to cancel the deal", "path": "kitchen-l/_americas/sec_media/36."}, "s860": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions", "text": "Enron officials declined to comment on reports that its banks J.P. Morgan and Citigroup were considering pumping an extra $500 million of capital in to Enron. \nOil company ChevronTexaco Inc., a major Dynegy stockholder, has already agreed to inject $1.5 billion into Enron immediately to keep it afloat while the merger is completed, which Dynegy expects to take six to nine months. \nIf Enron backs out of the deal to accept a higher offer, it would have to pay a $350 million breakup fee to Dyegy. \nAnd if the deal breaks down for any reason, Dynegy would be allowed to exercise an option to acquire Enron's Northern Natural Gas pipeline subsidiary.\n\nCopyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved. \t\n\nUSA: UPDATE 2-Enron, Dynegy shares rise despite mixed reviews.\n\n11/12/2001\nReuters English News Service", "clipped": true, "phrase": "has already agreed to inject $1.5 billion into Enron immediately to keep it afloat while the merger is completed, which Dynegy expects to take six to nine months.", "path": "kitchen-l/_americas/sec_media/37."}, "s883": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "Enron's immediate problem was a crisis of confidence, which could have caused other companies to stop trading with it, Mr. Watson said. A $1.5 billion cash infusion from Dynegy should restore the confidence of Enron's business partners and keep Enron stable until the takeover is complete, he said. To bolster Enron further, J. P. Morgan Chase and Citigroup may each invest an additional $250 million, executives close to the deal said. The potential investments by J. P. Morgan Chase and Citigroup were reported yesterday in The Wall Street Journal.", "clipped": true, "phrase": "A $1.5 billion cash infusion from Dynegy should restore the confidence of Enron's business partners and keep Enron stable until the takeover is complete, he said.", "path": "kitchen-l/_americas/sec_media/36."}, "s784": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions - 11/09/01-11/10/01", "text": "Charles L. Watson, Dynegy's chairman and chief executive, said yesterday that Dynegy could sort through Enron's tangled finances. ''We know the company well,'' Mr. Watson said. ''It's not like we just started fresh. I'm confident that it's as solid as we thought it was.'' \nThe new company will combine Enron's 25,000-mile natural gas pipeline system with the large number of power plants that Dynegy owns worldwide, as well as Illinois Power, a Dynegy subsidiary that serves 650,000 customers in Illinois. But its most important asset will be its trading desk. It will be the largest energy trader in the nation, trading more than twice as much power and natural gas as its closest competitors.", "clipped": true, "phrase": "''We know the company well,'' Mr. Watson said. ''It's not like we just started fresh. I'm confident that it's as solid as we thought it was.''", "path": "kitchen-l/_americas/sec_media/40."}, "s1197": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions - 11/26/01", "text": "Watson firmly believes that Enron suffered from a crisis of confidence, not a meltdown of its core business. Indeed, Enron's wholesale-trading operation earned $2.3 billion last year. Says Watson: ``We know the business. We looked under the hood, and guess what? It's just as strong as we thought it was.''", "clipped": true, "phrase": "Says Watson: ``We know the business. We looked under the hood, and guess what? It's just as strong as we thought it was.''", "path": "kean-s/deleted_items/478."}, "s844": {"from": "rahil.jafry@enron.com", "to": "louise.kitchen@enron.com, marcus.nettelton@enron.com", "subject": "FW: Highlights from this morning's ENE/DYN analyst conference call", "text": "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.\nDynegy says that 'several' internal investigations continue at Enron, and thus DYN/ENE cannot say with certainty that there's absolutely nothing else out there.\nDoty (Dynegy CFO) says that late last week, ENE had 'close to a billion' in cash.  \nOsprey will be unwound late next summer. Marlin will be unwound after closing.\nMany 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.", "clipped": true, "phrase": "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.", "path": "kitchen-l/_americas/east_power/12."}, "s845": {"from": "rahil.jafry@enron.com", "to": "louise.kitchen@enron.com, marcus.nettelton@enron.com", "subject": "FW: Highlights from this morning's ENE/DYN analyst conference call", "text": "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.\nDoty (Dynegy CFO) says that late last week, ENE had 'close to a billion' in cash.  \nOsprey will be unwound late next summer. Marlin will be unwound after closing.\nMany 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.", "clipped": true, "phrase": "Doty (Dynegy CFO) says that late last week, ENE had 'close to a billion' in cash.", "path": "kitchen-l/_americas/east_power/12."}, "s849": {"from": "rahil.jafry@enron.com", "to": "louise.kitchen@enron.com, marcus.nettelton@enron.com", "subject": "FW: Highlights from this morning's ENE/DYN analyst conference call", "text": "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 (uh-oh).  They bracketed the maximum expected exposure from the non-core assets/businesses and left it at that.", "clipped": true, "phrase": "Doty adds that, 'frankly', DYN assigned zero economic value to non-core businesses in their valuation model", "path": "kitchen-l/_americas/east_power/12."}, "s850": {"from": "rahil.jafry@enron.com", "to": "louise.kitchen@enron.com, marcus.nettelton@enron.com", "subject": "FW: Highlights from this morning's ENE/DYN analyst conference call", "text": "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. \nThe 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.", "clipped": true, "phrase": "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.", "path": "kitchen-l/_americas/east_power/12."}, "s865": {"from": "frank.hayden@enron.com", "to": "sally.beck@enron.com", "subject": "FW: Curve Validation", "text": "FYI\n\n -----Original Message-----\nFrom: \tHayden, Frank  \nSent:\tMonday, November 12, 2001 4:37 PM\nTo:\tLavorato, John\nSubject:\tCurve Validation\n\nLast week, I spoke with Sally and asked her to kick off curve validations respective to all desks.  I emphasized that curve accuracy is particularly important.  Although probabilities exist that Dynegy will mark book down, I think it would be wise that this process not be a deal buster.  Do you want me to communicate this to desk heads? \n\nFrank", "clipped": false, "phrase": "Although probabilities exist that Dynegy will mark book down, I think it would be wise that this process not be a deal buster.", "path": "beck-s/inbox/645."}, "s781": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions - 11/09/01-11/10/01", "text": "For critics who had complained about Enron's market power and its dominance, the combination poses additional concerns. Dynegy's acquisition of Enron will be reviewed by state and federal agencies, led by the Justice Department and the Federal Energy Regulatory Commission. Analysts said today that they expected scrutiny of the combined companies' holdings in California, where Dynegy owns power-generating plants and Enron accounts for much of the trading of natural gas -- fuel for the state's electric power plants.", "clipped": true, "phrase": "Dynegy's acquisition of Enron will be reviewed by state and federal agencies, led by the Justice Department and the Federal Energy Regulatory Commission.", "path": "kitchen-l/_americas/sec_media/40."}, "s801": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions - 11/09/01-11/10/01", "text": "Analysts said today that sharp scrutiny would be given to the combined companies' holdings in California, where Dynegy owns generating plants and Enron controls a large part of the market for trading natural gas -- the fuel for a big share of the state's electric power plants. \n''Dynegy would now have a greater ability to take the dominant position in gas and raise the price of electricity,'' said Frank Wolak, a professor of economics at Stanford University. \nMr. Wolak, a consultant to the Justice Department on a 1999 antitrust case that led to limits on another merger of electricity and natural gas companies in Southern California, said he was skeptical that regulators were up to the task of reviewing today's deal.", "clipped": true, "phrase": "''Dynegy would now have a greater ability to take the dominant position in gas and raise the price of electricity,'' said Frank Wolak", "path": "kitchen-l/_americas/sec_media/40."}, "s802": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions - 11/09/01-11/10/01", "text": "In an interview this evening, Charles L. Watson, the chairman of Dynegy, said he did not believe that regulators reviewing the deal with Enron would require the sale of any assets. ''We haven't really identified any pitfalls that require any sort of asset divestiture,'' he said. ''There's not really any overlap.'' \nA senior executive at one of Enron's largest energy-trading rivals disagreed. ''I don't think this deal gets through unscathed,'' he said today. ''I'm sure the Justice Department and the F.T.C. will look closely at the pretty substantial concentration of market power these companies will have in the energy-trading area.''", "clipped": true, "phrase": "he did not believe that regulators reviewing the deal with Enron would require the sale of any assets. ''We haven't really identified any pitfalls that require any sort of asset divestiture,'' he said.", "path": "kitchen-l/_americas/sec_media/40."}, "s862": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions", "text": "Some analysts have said the deal could be thwarted by regulators because of concerns that Dynegy would be too powerful after merging with Enron, currently North America's biggest buyer and seller of both natural gas and electricity. \nWatson said Dynegy would have to work hard to explain the deal to regulators, led by the Federal Energy Regulatory Commission, but does not doubt it will eventually pass muster. \n\"We really are confident that up and down the line we are going to be able to convince them that this is really in the best interest of the energy industry as well as these two respective companies,\" he said. \nGAS PIPELINE OPTION, BREAK-UP FEES", "clipped": true, "phrase": "Watson said Dynegy would have to work hard to explain the deal to regulators, led by the Federal Energy Regulatory Commission, but does not doubt it will eventually pass muster.", "path": "kitchen-l/_americas/sec_media/37."}, "s1214": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions - 11/24/01 - 11/25/01", "text": "State Is Examining Proposed Merger \nCalifornia Atty. Gen. Bill Lockyer has begun examining what effects such a merger would have on California, spokeswoman Sandra Michioku said. The Federal Trade Commission and the Federal Energy Regulatory Commission also will scrutinize the merger in a process that Dynegy and Enron expect will take no more than nine months. \nSenate Energy Committee Chairwoman Debra Bowen (D-Marina del Rey) said she plans to urge FERC to look beyond traditional measurements of how much the companies own in the market to examine \"inputs\" into the market such as gas pipeline capacity controlled by the companies and gas trading by Dynegy and Enron. \n\"It really raises many questions about how the market works,\" Bowen said.", "clipped": true, "phrase": "The Federal Trade Commission and the Federal Energy Regulatory Commission also will scrutinize the merger in a process that Dynegy and Enron expect will take no more than nine months.", "path": "kitchen-l/_americas/sec_media/20."}, "s885": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "Many employees at Enron will get new grants of stock options when the acquisition is completed, he said. The company said it expected the deal to close by the end of the third quarter of next year, after extensive reviews from federal and state energy regulators and the Department of Justice. \nMr. Watson predicted that the deal would lift Dynegy's earnings by 90 cents or more a share next year, to more than $3.45 a share.", "clipped": true, "phrase": "The company said it expected the deal to close by the end of the third quarter of next year, after extensive reviews from federal and state energy regulators and the Department of Justice.", "path": "kitchen-l/_americas/sec_media/36."}, "s898": {"from": "jay.webb@enron.com", "to": "louise.kitchen@enron.com", "subject": "do they get it?", "text": "the off-balance sheet dealings, a $1.2 billion cut in\nshareholder equity and damaging credit rating\ndowngrades.\n\nHowever, Dynegy can drop its offer if more bad news\nemerges, or if pending lawsuits against Enron lead to\nmore than $3.5 billion in costs.\n\nDynegy also expressed confidence the takeover will win\nU.S. regulatory approval and said it does not expect\nany antitrust concerns to impede the merger of the two\nelectronic platforms.\n\nDynegy shares gained $5.55, or 14.3 percent, to $44.31\non the New York Stock Exchange, while shares of Enron\nrose 61 cents, or 7 percent, to $9.24.\n\nThe takeover halted a free-fall in Enron's stock that\nlost about 75 percent of its market capitalization in\nthe past month.", "clipped": true, "phrase": "Dynegy also expressed confidence the takeover will win\nU.S. regulatory approval and said it does not expect\nany antitrust concerns to impede the merger of the two\nelectronic platforms.", "path": "kitchen-l/_americas/esvl/558."}, "s908": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions", "text": "ENE shareholders will receive a fixed amount of DYN shares. The proposed DYN transaction will provide significant financial support to ENE, and should enable ENE to fund its cash needs through the first quarter of 2002 under expected business conditions, despite ENE's significant refinancing risk. The merger requires regulatory approvals, including Hart-Scott-Rodino, the SEC, and the Federal Regulatory Energy Commission; assuming regulators approve the merger, we would expect the transaction to close in six- to nine-months. The merger agreement includes termination provisions that add an element of uncertainty to its completion. Fitch anticipates that the surviving company's rating would move to the mid-'BBB' range assuming the successful execution of its interim plans to delever its capital structure and the completion of the merger. If the merger were terminated F\n[...]", "clipped": true, "phrase": "The merger requires regulatory approvals, including Hart-Scott-Rodino, the SEC, and the Federal Regulatory Energy Commission; assuming regulators approve the merger, we would expect the transaction to close in six- to nine-months.", "path": "kitchen-l/_americas/sec_media/35."}, "s919": {"from": "j..kean@enron.com", "to": "cindy.olson@enron.com", "subject": "FW: Jackson says coalition wants role in energy deal", "text": "From: \tNersesian, Carin  \nSent:\tTuesday, November 13, 2001 10:25 AM\nSubject:\tJackson says coalition wants role in energy deal\n\nI wasn't sure if this was in the clips.  \n\nNov. 12, 2001, 10:23PM\nJackson says coalition wants role in energy deal \nBy NELSON ANTOSH \nCopyright 2001 Houston Chronicle \nActivist Jesse Jackson says the Rainbow/PUSH Coalition intends to be a part of the regulatory process leading to the closing of the Enron-Dynegy deal. \nThe organization, which he founded, owns Enron stock and shares in several other large Houston-based energy firms. \n\"Dynegy needs our participation to get approval,\" Jackson said Monday. \nThe organization's interest in the acquisition of Enron by Dynegy is in assuring minority inclusion in any possible spinoffs, employment, contract commitments and EEOC rulings.", "clipped": true, "phrase": "Activist Jesse Jackson says the Rainbow/PUSH Coalition intends to be a part of the regulatory process leading to the closing of the Enron-Dynegy deal.", "path": "kean-s/sent_items/568."}, "s920": {"from": "j..kean@enron.com", "to": "cindy.olson@enron.com", "subject": "FW: Jackson says coalition wants role in energy deal", "text": "Activist Jesse Jackson says the Rainbow/PUSH Coalition intends to be a part of the regulatory process leading to the closing of the Enron-Dynegy deal. \nThe organization, which he founded, owns Enron stock and shares in several other large Houston-based energy firms. \n\"Dynegy needs our participation to get approval,\" Jackson said Monday. \nThe organization's interest in the acquisition of Enron by Dynegy is in assuring minority inclusion in any possible spinoffs, employment, contract commitments and EEOC rulings. \nJackson is here for the first annual energy summit conducted by the Houston bureau of the Rainbow/PUSH Coalition Wall Street Project. The summit continues today in the Hyatt Regency downtown.", "clipped": true, "phrase": "Dynegy needs our participation to get approval,\" Jackson said Monday.", "path": "kean-s/sent_items/568."}, "s921": {"from": "j..kean@enron.com", "to": "cindy.olson@enron.com", "subject": "FW: Jackson says coalition wants role in energy deal", "text": "The organization, which he founded, owns Enron stock and shares in several other large Houston-based energy firms. \n\"Dynegy needs our participation to get approval,\" Jackson said Monday. \nThe organization's interest in the acquisition of Enron by Dynegy is in assuring minority inclusion in any possible spinoffs, employment, contract commitments and EEOC rulings. \nJackson is here for the first annual energy summit conducted by the Houston bureau of the Rainbow/PUSH Coalition Wall Street Project. The summit continues today in the Hyatt Regency downtown. \nThose companies played a role in this conference that suggests they are in touch with Jackson already. On Monday he praised Enron head Ken Lay's integrity although the Enron executive is on the other end of the political spectrum.", "clipped": true, "phrase": "The organization's interest in the acquisition of Enron by Dynegy is in assuring minority inclusion in any possible spinoffs, employment, contract commitments and EEOC rulings.", "path": "kean-s/sent_items/568."}, "s887": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "Since then, the Securities and Exchange Commission started an investigation of Enron, a slew of shareholder lawsuits were filed and Enron's stock price plummeted. \nA new shareholder suit filed Monday included Dynegy on its list of defendants. \nLast week, Enron said it was restating its earnings back to 1997 to include losses related to a number of complex partnerships, including several being investigated by the SEC. It said it was correcting almost $600 million worth of mistakes.", "clipped": true, "phrase": "A new shareholder suit filed Monday included Dynegy on its list of defendants.", "path": "kitchen-l/_americas/sec_media/36."}, "s1042": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions- 11/20/01", "text": "The company on Nov. 9 agreed to merge with competitor Dynegy Inc. But its latest SEC filing said it was sued by shareholders on Nov. 12 in state court in Houston to prevent the merger from happening. The petition alleges that Enron's directors breached their fiduciary duties to Enron's shareholders by agreeing to sell Enron for inadequate consideration and without an adequate investigation of the alternatives available to Enron. Enron said it would vigorously defend itself.", "clipped": true, "phrase": "But its latest SEC filing said it was sued by shareholders on Nov. 12 in state court in Houston to prevent the merger from happening.", "path": "kean-s/deleted_items/410."}, "s943": {"from": "timothy.blanchard@enron.com", "to": "matthew.lenhart@enron.com, eric.bass@enron.com, bryan.hull@enron.com", "subject": "FW: Highlights from ENE Analyst Conference Call 11/14", "text": "?\tYosemite and the Credit-Linked Notes are predominantly commodity transactions entered into with 'large financial institutions'.  The underlying transactions are already on Enron's balance sheet.  McMahon says that there is no Enron share obligation related to these instruments.\n?\tDynegy has reviewed all of these vehicles, McMahon says.\n?\tOur 10Q will be filed five days late.  The 10Q will include all of this detail regarding the off-balance-sheet vehicles.\n?\tThe special committee investigation is still ongoing.  The committee meets 2-3 times/week, sometimes more often.  The outside auditors (D&T) and external counsel hired by the committee are working 'virtually 7 days a week'.  Lay estimates that it will take the committee several more weeks to complete its investigation.", "clipped": true, "phrase": "Dynegy has reviewed all of these vehicles, McMahon says.", "path": "lenhart-m/deleted_items/422."}, "s966": {"from": "richard.shapiro@enron.com", "to": "daniel.allegretti@enron.com, joe.allen@enron.com, ray.alvarez@enron.com,   \tsergio.assad@enron.com, lisa.assaf@enron.com,   \tkara.ausenhus@enron.com, lynnette.barnes@enron.com,   \tkirsten.bellas@enron.com, jose.bestard@enron.com,   \tdarran.", "subject": "Government Affairs Organization Announcement", "text": "him, Paul Kaufman, Harry Kingerski, Leslie Lawner, Steve Montovano, Christi Nicolay, Sue Nord, Sarah Novosel, Linda Robertson, Jim Steffes and myself.  We will also continue to have an RCR Committee that will consist of Maggy Huson, Harry Kingerski, Sue Nord, Linda Robertson, Jim Steffes & myself.  Finally, I am forming a Dynegy/Enron regulatory approvals working group that will consist of Jose Bestard, Paul Dawson, Paul Kaufman, Sue Nord, Sarah Novosel and myself.\n\nNo organizational structure or set of organizational changes is either perfect or permanent.  I believe these changes will make us better and more prepared for the future.  However, we must be prepared to further adjust as the future unfolds for the company.", "clipped": true, "phrase": "Finally, I am forming a Dynegy/Enron regulatory approvals working group that will consist of Jose Bestard, Paul Dawson, Paul Kaufman, Sue Nord, Sarah Novosel and myself.", "path": "kean-s/organization/90."}, "s968": {"from": "leslie.hiltabrand@enron.com", "to": "ellie.ahmadi@enron.com, margaret.allen@enron.com, john.ambler@enron.com,   \tcarin.andre@enron.com, jennifer.brockwell@enron.com,   \tmary.clark@enron.com, karen.denne@enron.com,   \tcindy.derecskey@enron.com, habiba.ewing@enron.com,   \tcarla.", "subject": "FW: Government Affairs Organization Announcement", "text": "him, Paul Kaufman, Harry Kingerski, Leslie Lawner, Steve Montovano, Christi Nicolay, Sue Nord, Sarah Novosel, Linda Robertson, Jim Steffes and myself.  We will also continue to have an RCR Committee that will consist of Maggy Huson, Harry Kingerski, Sue Nord, Linda Robertson, Jim Steffes & myself.  Finally, I am forming a Dynegy/Enron regulatory approvals working group that will consist of Jose Bestard, Paul Dawson, Paul Kaufman, Sue Nord, Sarah Novosel and myself.\n\nNo organizational structure or set of organizational changes is either perfect or permanent.  I believe these changes will make us better and more prepared for the future.  However, we must be prepared to further adjust as the future unfolds for the company.", "clipped": true, "phrase": "Finally, I am forming a Dynegy/Enron regulatory approvals working group that will consist of Jose Bestard, Paul Dawson, Paul Kaufman, Sue Nord, Sarah Novosel and myself.", "path": "kean-s/deleted_items/427."}, "s969": {"from": "richard.shapiro@enron.com", "to": "daniel.reck@enron.com, tim.battaglia@enron.com, kevin.mcgowan@enron.com,   \tdavid.duran@enron.com, f..calger@enron.com, m..presto@enron.com,   \ttim.belden@enron.com, a..shankman@enron.com,   \tmike.mcconnell@enron.com, janet.dietrich@enron.c", "subject": "FW: Government Affairs Organization Announcement", "text": "him, Paul Kaufman, Harry Kingerski, Leslie Lawner, Steve Montovano, Christi Nicolay, Sue Nord, Sarah Novosel, Linda Robertson, Jim Steffes and myself.  We will also continue to have an RCR Committee that will consist of Maggy Huson, Harry Kingerski, Sue Nord, Linda Robertson, Jim Steffes & myself.  Finally, I am forming a Dynegy/Enron regulatory approvals working group that will consist of Jose Bestard, Paul Dawson, Paul Kaufman, Sue Nord, Sarah Novosel and myself.\n\nNo organizational structure or set of organizational changes is either perfect or permanent.  I believe these changes will make us better and more prepared for the future.  However, we must be prepared to further adjust as the future unfolds for the company.", "clipped": true, "phrase": "Finally, I am forming a Dynegy/Enron regulatory approvals working group that will consist of Jose Bestard, Paul Dawson, Paul Kaufman, Sue Nord, Sarah Novosel and myself.", "path": "kitchen-l/_americas/regulatory/2."}, "s981": {"from": "jim.fallon@enron.com", "to": "j..kean@enron.com", "subject": "FW: Government Affairs Organization Announcement", "text": "him, Paul Kaufman, Harry Kingerski, Leslie Lawner, Steve Montovano, Christi Nicolay, Sue Nord, Sarah Novosel, Linda Robertson, Jim Steffes and myself.  We will also continue to have an RCR Committee that will consist of Maggy Huson, Harry Kingerski, Sue Nord, Linda Robertson, Jim Steffes & myself.  Finally, I am forming a Dynegy/Enron regulatory approvals working group that will consist of Jose Bestard, Paul Dawson, Paul Kaufman, Sue Nord, Sarah Novosel and myself.\n\nNo organizational structure or set of organizational changes is either perfect or permanent.  I believe these changes will make us better and more prepared for the future.  However, we must be prepared to further adjust as the future unfolds for the company.", "clipped": true, "phrase": "Finally, I am forming a Dynegy/Enron regulatory approvals working group that will consist of Jose Bestard, Paul Dawson, Paul Kaufman, Sue Nord, Sarah Novosel and myself.", "path": "kean-s/deleted_items/343."}, "s1001": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions - 11/19/01", "text": "Copyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved. \t\n\nCOMPANIES & FINANCE INTERNATIONAL - Dynegy bid faces long wait.\nBy NANCY DUNNE and ANDREW HILL.\n\n11/19/2001\nFinancial Times\n(c) 2001 Financial Times Limited . All Rights Reserved\n\nDynegy's $9.8bn rescue bid for Enron, the larger rival energy group, poses complex and unprecedented regulatory challenges for the Federal Energy Regulatory Commission (Ferc), which is likely to lead the review of the bid. \nOfficials from the two Houston-based companies, which announced the deal 10 days ago, estimated the regulatory process would take six to nine months to complete.\nBut the Ferc review could take longer, according to experts, and approval of the deal is further complicated by such issues as the parallel Securities and Exchange Commission investigation into Enron's finances.", "clipped": true, "phrase": "Dynegy's $9.8bn rescue bid for Enron, the larger rival energy group, poses complex and unprecedented regulatory challenges for the Federal Energy Regulatory Commission (Ferc), which is likely to lead the review of the bid.", "path": "kean-s/deleted_items/368."}, "s1002": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions - 11/19/01", "text": "Financial Times\n(c) 2001 Financial Times Limited . All Rights Reserved\n\nDynegy's $9.8bn rescue bid for Enron, the larger rival energy group, poses complex and unprecedented regulatory challenges for the Federal Energy Regulatory Commission (Ferc), which is likely to lead the review of the bid. \nOfficials from the two Houston-based companies, which announced the deal 10 days ago, estimated the regulatory process would take six to nine months to complete.\nBut the Ferc review could take longer, according to experts, and approval of the deal is further complicated by such issues as the parallel Securities and Exchange Commission investigation into Enron's finances. \n\"It's very complicated. It will be very time-consuming,\" said one person close to the Ferc commissioners. As of Friday, the groups had not yet filed for Ferc approval.", "clipped": true, "phrase": "Officials from the two Houston-based companies, which announced the deal 10 days ago, estimated the regulatory process would take six to nine months to complete.", "path": "kean-s/deleted_items/368."}, "s1003": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions - 11/19/01", "text": "\"It's very complicated. It will be very time-consuming,\" said one person close to the Ferc commissioners. As of Friday, the groups had not yet filed for Ferc approval. \n\"(The deal) raises issues that have never been considered before by Ferc,\" said Edward Comer, general counsel to the Edison Electric Institute, the association of US electric utilities. \n\"It has never considered the merger of two huge marketers, and in the past, marketing wasn't considered as significant a portion of the energy sector as it has become.\"", "clipped": true, "phrase": "As of Friday, the groups had not yet filed for Ferc approval.", "path": "kean-s/deleted_items/368."}, "s1004": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions - 11/19/01", "text": "\"It has never considered the merger of two huge marketers, and in the past, marketing wasn't considered as significant a portion of the energy sector as it has become.\" \nA typical deal now takes about 200 days to win Ferc approval. But Mr Comer said approval of the Dynegy bid could take anywhere from six months to two years. \nThe agency's guidelines prohibit mergers if they give the new company the market power to push prices above competitive levels for \"a significant period of time\". \nIt analyses market power by identifying the products sold, the customers and suppliers affected and market concentration.", "clipped": true, "phrase": "Mr Comer said approval of the Dynegy bid could take anywhere from six months to two years.", "path": "kean-s/deleted_items/368."}, "s1005": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions - 11/19/01", "text": "Now the question is how ownership of energy trading services will be calculated. It could be difficult to assess if the companies are exerting market power because information on the trading books of companies such as Enron and Dynegy is closely guarded, she said. \nThe two companies must also win consent from either the Justice Department or the Federal Trade Commission, and from states where the companies have pipelines and provide retail services. \n(c) Copyright Financial Times Ltd. All rights reserved. \nhttp://www.ft.com.\n\nCopyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved. \t\n\nFund Track\nRussia Fund Surges Amid Global Woes\nBy Victoria Marcinkowski\nDow Jones Newswires\n\n11/19/2001", "clipped": true, "phrase": "information on the trading books of companies such as Enron and Dynegy is closely guarded", "path": "kean-s/deleted_items/368."}, "s1065": {"from": "peggy.mahoney@enron.com", "to": "karen.denne@enron.com, j..kean@enron.com", "subject": "HELP!!!", "text": "being investigated by the SEC and by an internal committee Enron has\nnamed.\n\n  In the filing, Enron also said it may have to take a $700 million\npretax charge to earnings for the declining value of assets held by\nanother partnership, Whitewing LLP.\n\n  When asked if Dynegy had known about the collateral call on  the debt\nor about the decline in Whitewing's value, a Dynegy spokeswoman declined\nto comment.\n\n  \"We are referring all questions about the Enron 10-Q to Enron,\" said\nthe spokeswoman. Representatives of Enron weren't  immediately available\nfor comment.\n\n  Dynegy agreed to buy Enron earlier this month. Earlier Tuesday, the\ndeal was worth about $11.97 billion in stock, but Enron shares were\ntrading at a 32.5% discount to the offer price earlier Tuesday morning,\nwhich is a sign of the uncertainty surrounding the transaction.", "clipped": true, "phrase": "When asked if Dynegy had known about the collateral call on  the debt\nor about the decline in Whitewing's value, a Dynegy spokeswoman declined\nto comment.", "path": "kean-s/deleted_items/400."}, "s1092": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions- 11/20/01", "text": "In the filing, Enron also said it may have to take a $700 million pretax charge to earnings for the declining value of assets held by another partnership, Whitewing LLP. \nWhen asked if Dynegy had known about the collateral call on the debt or about the decline in Whitewing's value, a Dynegy spokeswoman declined to comment. \n\"We are referring all questions about the Enron 10-Q to Enron,\" said the spokeswoman. Representatives of Enron weren't immediately available for comment. \nDynegy agreed to buy Enron earlier this month. Earlier Tuesday, the deal was worth about $11.97 billion in stock, but Enron shares were trading at a 32.5% discount to the offer price earlier Tuesday morning, which is a sign of the uncertainty surrounding the transaction.", "clipped": true, "phrase": "When asked if Dynegy had known about the collateral call on the debt or about the decline in Whitewing's value, a Dynegy spokeswoman declined to comment.", "path": "kitchen-l/_americas/sec_media/24."}, "s1071": {"from": "peggy.mahoney@enron.com", "to": "karen.denne@enron.com, j..kean@enron.com", "subject": "HELP!!!", "text": "payment of $1.5 billion was transferred to Dynegy and then to Enron to\nhelp meet Enron's immediate cash  needs.\n\n  Dynegy's merger agreement with Enron contains several provisions\nbeyond the standard \"material adverse change\" provision that would allow\nthe deal to be terminated. Still, some question whether Dynegy was able\nto fully assess Enron's liabilities prior to striking the deal.\n\n  Investors have expressed frustration with Enron's lack of disclosure,\nand even marvelled at the fact that the 10-Q included material that\ncould have been mentioned in previous filings or company conference\ncalls.\n\nEnergy Cos Limit Business With Enron After 10Q -Traders\nBy Mark Golden\n\n11/20/2001\nDow Jones Energy Service\n(Copyright (c) 2001, Dow Jones & Company, Inc.)", "clipped": true, "phrase": "some question whether Dynegy was able\nto fully assess Enron's liabilities prior to striking the deal.", "path": "kean-s/deleted_items/400."}, "s1096": {"from": "karen.denne@enron.com", "to": "j..kean@enron.com, meredith.philipp@enron.com, vance.meyer@enron.com,   \tcourtney.votaw@enron.com", "subject": "FW: FYI", "text": "renegotiate. And what was shocking about that wasn`t that the debt\nexisted, that was known, it was that they had to pay it so quickly.\nIt turns out, according to what people are telling analysts, that\nDynegy (Company: Dynegy Inc.; Ticker: DYN; URL:\nhttp://www.dynegy.com/), which agreed to buy them only a week or\ntwo ago, didn`t know about this. They had not told them,\napparently, Enron didn`t realize they had this problem.\n    ROMANS: OK, wait. There seems to be a lot of things that Wall\nStreet didn`t know was going on. And every sort of revelation is a\nbig blow to the stock. Who is watching what`s happening here and\nhow can there be so many surprises. That`s confusing to a lot of\nfolks who are following this.\n    NORRIS: Well, it`s-the fact Wall Street is surprised isn`t", "clipped": true, "phrase": "which agreed to buy them only a week or\ntwo ago, didn`t know about this. They had not told them,", "path": "kean-s/pr_crisis_management/189."}, "s1111": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions- 11/21/01", "text": "\"But at this point Dynegy says they're still going forward, so I still have a positive outlook on it closing.\" \nThe $690 million note payable, which is related to a natural gas partnership in Brazil, had been reported earlier. But the fact that it would come due almost immediately if the company's credit rating was downgraded to BBB-, which happened Nov. 12, was news to analysts and to Dynegy. \nEnron spokesman Mark Palmer said the company has the cash on hand to pay the obligation but would like to have it restructured and extended. Negotiations are under way to do so, he said.", "clipped": true, "phrase": "the fact that it would come due almost immediately if the company's credit rating was downgraded to BBB-, which happened Nov. 12, was news to analysts and to Dynegy.", "path": "kitchen-l/_americas/sec_media/23."}, "s1039": {"from": "richard.shapiro@enron.com", "to": "jim.fallon@enron.com", "subject": "Govt Affairs staffing, budgets, and org. charts", "text": "approximately $6.425 million( twenty one professionals and three support staff).(These budgets  include a million or so of \"mitigatable\" real estate leases) The corporate staff would do the following that I believe is absolutely essential( this reflects minimal staffing and \" barebones\" effort): 1) Management for Enron of regulatory approvals processes for PGE sale and Dynegy Acquisition and any other asset sales that may occur( 3-3.5 FTE);2) Retention of skeletal Washington Legislative presence(two employees with no outside services support) to ensure that Enron's interests on Capitol Hill and with the Administration are minimally protected and advanced. Issues include energy legislation(RTO's, etc..), CFTC-related issues; tax issues;etc....;3) .5-1.0 FTE to manage all residual issues related to non EES/ENA businesses and issues; and 4) one person to mange all state legislative a", "clipped": true, "phrase": "Management for Enron of regulatory approvals processes for PGE sale and Dynegy Acquisition and any other asset sales that may occur( 3-3.5 FTE)", "path": "kean-s/deleted_items/411."}, "s1043": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions- 11/20/01", "text": "The company on Nov. 9 agreed to merge with competitor Dynegy Inc. But its latest SEC filing said it was sued by shareholders on Nov. 12 in state court in Houston to prevent the merger from happening. The petition alleges that Enron's directors breached their fiduciary duties to Enron's shareholders by agreeing to sell Enron for inadequate consideration and without an adequate investigation of the alternatives available to Enron. Enron said it would vigorously defend itself.", "clipped": true, "phrase": "The petition alleges that Enron's directors breached their fiduciary duties to Enron's shareholders by agreeing to sell Enron for inadequate consideration", "path": "kean-s/deleted_items/410."}, "s1106": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions- 11/21/01", "text": "next week following the downgrade of its credit ratings to the\nlowest investment-grade level.\n\n     The Houston-based energy trader made the disclosure in a\nfiling with the Securities and Exchange Commission known as a\n``10Q'' on Monday.\n\n     ``I have to believe that Dynegy knew about this, maybe not\nwhen the deal was signed, but certainly before the 10Q was\npublished. There was wiggle room in the deal for both write downs,\nwhich effectively includes both the note and the potential write\ndown for Whitewing.''\n\n     ``There still appears to be enough liquidity to handle the\nwrite offs and the $690 million limited partnership note.''\n\n     ``Over the short-run, the rest of this week, it is going to\nbe difficult for anyone to trade with Enron, because they should", "clipped": true, "phrase": "``I have to believe that Dynegy knew about this, maybe not\nwhen the deal was signed, but certainly before the 10Q was\npublished.", "path": "kitchen-l/_americas/sec_media/23."}, "s1102": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions- 11/21/01", "text": "Yesterday, a Dynegy spokesman wouldn't comment on the status of the pending acquisition, other than to say his company was reviewing Enron's third-quarter financial report, filed with the SEC, as part of continuing \"due diligence.\" Under the proposed acquisition, Dynegy would exchange 0.2685 of its shares for each Enron share. Based on Dynegy's 4 p.m. price yesterday on the Big Board of $41.70 a share, off $1.90, the deal values Enron shares at about $11.20 -- well above the current market price.", "clipped": true, "phrase": "a Dynegy spokesman wouldn't comment on the status of the pending acquisition, other than to say his company was reviewing Enron's third-quarter financial report, filed with the SEC, as part of continuing \"due diligence.\"", "path": "kitchen-l/_americas/sec_media/23."}, "s1129": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions- 11/21/01", "text": "\"We are continuing our confirmatory due diligence and working to accelerate the regulatory approvals required to complete the merger in accordance with the previously announced agreement,\" he said.\nWatson also noted that ChevronTexaco recently reiterated that it has \"full confidence in Dynegy's disciplined management approach to complete the merger and to build a new company into an industry leader.\" ChevronTexaco owns 26 percent of Dynegy's outstanding common stock.", "clipped": true, "phrase": "\"We are continuing our confirmatory due diligence and working to accelerate the regulatory approvals required to complete the merger in accordance with the previously announced agreement,\" he said.", "path": "kean-s/deleted_items/447."}, "s1140": {"from": "no.address@enron.com", "to": "mitch.robinson@enron.com, m..presto@enron.com, louise.kitchen@enron.com,   \tdavid.duran@enron.com", "subject": "FW: DYNEGY ISSUES STATEMENT ON ENRON MERGER STATUS", "text": "\"We are continuing our confirmatory due diligence and working to accelerate the regulatory approvals required to complete the merger in accordance with the previously announced agreement,\" he said.\n\nWatson also noted that ChevronTexaco recently reiterated that it has \"full confidence in Dynegy's disciplined management approach to complete the merger and to build a new company into an industry leader.\"  ChevronTexaco owns 26 percent of Dynegy's outstanding common stock.", "clipped": true, "phrase": "\"We are continuing our confirmatory due diligence and working to accelerate the regulatory approvals required to complete the merger in accordance with the previously announced agreement,\" he said.", "path": "kitchen-l/_americas/sec/7."}, "s1143": {"from": "karen.denne@enron.com", "to": "kenneth.lay@enron.com, mark.frevert@enron.com, greg.whalley@enron.com,   \tj..kean@enron.com, pr <.palmer@enron.com>, mark.koenig@enron.com,   \tjames.derrick@enron.com, rex.rogers@enron.com,   \traymond.bowen@enron.com, jeffrey.mcmahon@enron.", "subject": "Articles", "text": "\"They had to say something, but really didn't have any new news. It's quite incredible,\" said a Wall Street analyst covering Enron. \nAmid mounting fears that Enron's credit woes could thwart its plan to merge with rival Dynegy Inc. (DYN), a merger that many see as the only way for Enron to avoid possible bankruptcy, Enron began its press release by announcing that \"it has closed on the remaining $450 million of a previously announced $1 billion in secured credit lines...\"", "clipped": true, "phrase": "Amid mounting fears that Enron's credit woes could thwart its plan to merge with rival Dynegy Inc. (DYN), a merger that many see as the only way for Enron to avoid possible bankruptcy", "path": "kean-s/deleted_items/460."}, "s1226": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions -  11/23/01", "text": "Some observers say that if Dynegy walked away from the deal or tried to renegotiate the terms significantly, Enron might be pushed into a bankruptcy-law filing. Without the Dynegy acquisition and continued support from its bankers and customers, an Enron bankruptcy-court filing \"is highly possible,\" said Ralph Pellecchia, a senior director at Fitch, a credit-ratings agency. On Wednesday, Fitch maintained its credit rating on Enron at just one notch above noninvestment-grade, or \"junk,\" status. But Fitch also said it believed Enron's trading partners had made \"significant cash collateral calls\" in recent", "clipped": true, "phrase": "Some observers say that if Dynegy walked away from the deal or tried to renegotiate the terms significantly, Enron might be pushed into a bankruptcy-law filing.", "path": "kean-s/deleted_items/477."}, "s1157": {"from": "karen.denne@enron.com", "to": "kenneth.lay@enron.com, mark.frevert@enron.com, greg.whalley@enron.com,   \tj..kean@enron.com, pr <.palmer@enron.com>, mark.koenig@enron.com,   \tjames.derrick@enron.com, rex.rogers@enron.com,   \traymond.bowen@enron.com, jeffrey.mcmahon@enron.", "subject": "Articles", "text": "Dynegy announced Wednesday that it is working to accelerate regulatory approvals required to complete the acquisition in accordance with the previously announced agreement. \nThe Journal quoted analysts as saying Dynegy is coming under increasing pressure to renegotiate or walk away from the deal. \nIt also cited Fitch director Ralph Pellecchia as saying that, without the Dynegy acquisition and continued support from its bankers and customers, an Enron bankruptcy-court filing \"is highly possible\". \njms For more information and to contact AFX: www.afxnews.com and www.afxpress.com\n\n..................................................................................................................................... \n\nDynegy's Decision to Buy Enron Hits Crossroads Amid Rising Financial Woes\n\n11/23/2001\nDow Jones Business News \n(Copyright (c) 2001, Dow Jones & Company, Inc.)", "clipped": true, "phrase": "It also cited Fitch director Ralph Pellecchia as saying that, without the Dynegy acquisition and continued support from its bankers and customers, an Enron bankruptcy-court filing \"is highly possible\".", "path": "kean-s/deleted_items/460."}, "s1220": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions - 11/22/01", "text": "Still, one rating agency, Fitch, put out a strongly worded commentary yesterday. \n''If Dynegy steps away entirely from the merger, Enron's credit situation seems untenable, with a bankruptcy filing highly possible,'' wrote Ralph Pellecchia and Glen Grabelsky, the Fitch analysts following Enron. ''Our present BBB- rating rests on the merger possibility and continued support of the lending banks, without which Fitch would consider lowering the rating.''", "clipped": true, "phrase": "''If Dynegy steps away entirely from the merger, Enron's credit situation seems untenable, with a bankruptcy filing highly possible,''", "path": "kitchen-l/_americas/sec_media/19."}, "s1148": {"from": "karen.denne@enron.com", "to": "kenneth.lay@enron.com, mark.frevert@enron.com, greg.whalley@enron.com,   \tj..kean@enron.com, pr <.palmer@enron.com>, mark.koenig@enron.com,   \tjames.derrick@enron.com, rex.rogers@enron.com,   \traymond.bowen@enron.com, jeffrey.mcmahon@enron.", "subject": "Articles", "text": "(dj-rkm, ng-kh)\n\n..................................................................................................................................... \n\nEnron SEC filing contained information Dynegy was unaware of - report\n\n11/23/2001\nAFX News \n(c) 2001 by AFP-Extel News Ltd \n\nNEW YORK (AFX) - Monday's SEC filing by Enron's Corp contained information that proposed buyer Dynegy Inc had not known about, the Wall Street Journal quoted a person familiar with the merger plans as saying. \nDynegy representatives plan to work through the weekend evaluating the importance of this new information as part of the company's due diligence on Enron, the source said, without specifying what the new information was.", "clipped": true, "phrase": "Monday's SEC filing by Enron's Corp contained information that proposed buyer Dynegy Inc had not known about", "path": "kean-s/deleted_items/460."}, "s1149": {"from": "karen.denne@enron.com", "to": "kenneth.lay@enron.com, mark.frevert@enron.com, greg.whalley@enron.com,   \tj..kean@enron.com, pr <.palmer@enron.com>, mark.koenig@enron.com,   \tjames.derrick@enron.com, rex.rogers@enron.com,   \traymond.bowen@enron.com, jeffrey.mcmahon@enron.", "subject": "Articles", "text": "11/23/2001\nAFX News \n(c) 2001 by AFP-Extel News Ltd \n\nNEW YORK (AFX) - Monday's SEC filing by Enron's Corp contained information that proposed buyer Dynegy Inc had not known about, the Wall Street Journal quoted a person familiar with the merger plans as saying. \nDynegy representatives plan to work through the weekend evaluating the importance of this new information as part of the company's due diligence on Enron, the source said, without specifying what the new information was. \nIn the filing, Enron disclosed hundreds of millions of dollars of potential additional write-offs as well as the possibility that its weakening financial condition could force it to repay more than 2 bln usd in loans by the end of the year.", "clipped": true, "phrase": "Dynegy representatives plan to work through the weekend evaluating the importance of this new information as part of the company's due diligence on Enron", "path": "kean-s/deleted_items/460."}, "s1150": {"from": "karen.denne@enron.com", "to": "kenneth.lay@enron.com, mark.frevert@enron.com, greg.whalley@enron.com,   \tj..kean@enron.com, pr <.palmer@enron.com>, mark.koenig@enron.com,   \tjames.derrick@enron.com, rex.rogers@enron.com,   \traymond.bowen@enron.com, jeffrey.mcmahon@enron.", "subject": "Articles", "text": "In the filing, Enron disclosed hundreds of millions of dollars of potential additional write-offs as well as the possibility that its weakening financial condition could force it to repay more than 2 bln usd in loans by the end of the year.\nDynegy announced Wednesday that it is working to accelerate regulatory approvals required to complete the acquisition in accordance with the previously announced agreement. \nThe Journal quoted analysts as saying Dynegy is coming under increasing pressure to renegotiate or walk away from the deal. \nIt also cited Fitch director Ralph Pellecchia as saying that, without the Dynegy acquisition and continued support from its bankers and customers, an Enron bankruptcy-court filing \"is highly possible\". \njms For more information and to contact AFX: www.afxnews.com and www.afxpress.com", "clipped": true, "phrase": "Dynegy announced Wednesday that it is working to accelerate regulatory approvals required to complete the acquisition in accordance with the previously announced agreement.", "path": "kean-s/deleted_items/460."}, "s1182": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions - 11/26/01", "text": "Although Dynegy and Enron both say they are going ahead with the deal under the terms negotiated, Dynegy does appear to have other options. The agreement with Enron contains a broad \"material adverse change\" clause as well as some specific trigger points that could be invoked. \nDynegy officials performed \"due diligence\" throughout the holiday weekend, seeking to learn more about the intimate workings of Enron, which has suffered a series of damaging blows. Since mid-October, Enron has disclosed that some of its officers participated in personally enriching deals that moved assets off Enron's balance sheet, for a time, to several private partnerships. Those deals are now the subject of a Securities and Exchange Commission investigation. Past treatment of some of those deals has been termed an \"accounting error\" by Enron and it twice has rejiggered its", "clipped": true, "phrase": "Dynegy officials performed \"due diligence\" throughout the holiday weekend, seeking to learn more about the intimate workings of Enron", "path": "kean-s/deleted_items/478."}, "s1252": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions- 11/26/01", "text": "At that time, Dynegy Chairman and Chief Executive Chuck Watson said Dynegy was continuing its due diligence and was looking to accelerate regulatory approval of the deal. \nAccording to Sousa, Dynegy worked through the holiday weekend gathering information as part of its due diligence efforts. \nMeanwhile, Enron continued its discussions to raise between $500 million to $1 billion of additional financing, said Enron spokeswoman Karen Denne. The company also is working to restructure its debt by mid-December, she said.", "clipped": true, "phrase": "According to Sousa, Dynegy worked through the holiday weekend gathering information as part of its due diligence efforts.", "path": "kean-s/deleted_items/504."}, "s1198": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions - 11/26/01", "text": "ps involving Enron officials. The Securities & Exchange Commission is still investigating. ``We believe it will take more than just a couple of weeks and a long-term relationship [between Watson and Lay] to do all the necessary due diligence,'' says analyst Carol Coale of Prudential Securities Inc. Dynegy's Bergstrom counters: ``We're pretty certain that most everything of material consideration has been disclosed.'' If not? The massive earnings boost provides ``a high margin of error,'' he says. A WANNABE. Of course, regulators may object to the concentration of trading operations. And Watson will have to mesh two very different cultures. Enron is known for its intense, even cutthroat entrepreneurial spirit. Dynegy's operations are more conservative; some compare it to a fraternity. Dynegy's decision to issue new stock options to some Enron employees may so", "clipped": true, "phrase": "Dynegy's Bergstrom counters: ``We're pretty certain that most everything of material consideration has been disclosed.''", "path": "kean-s/deleted_items/478."}, "s1273": {"from": "pr <.palmer@enron.com>", "to": "karen.denne@enron.com, j..kean@enron.com", "subject": "FW: 401K NEED", "text": "To:\t\"'mark.palmer@enron.com'\" <mark.palmer@enron.com>, \"'elizabeth.tilney@enron.com'\" <elizabeth.tilney@enron.com>\ncc:\t \nSubject:\t401K NEED\n\nHi Mark and Beth \n\nAttached are the following: \n\n1. Draft comments re: the 401K plan -- NOTE: they have not been approved by legal; \n2. A Dow Jones story alleging that the recent lawsuit could allow: i) Dynegy to back away from the deal; ii) creates the implication that the suit adds financial pressure; iii) it also erroneously (I believe) discusses the time frame of the lock down period\n\nWE SHOULD: Consider a well orchestrated leak regarding the fact that these suits are bogus -- the leak would include information on:", "clipped": true, "phrase": "A Dow Jones story alleging that the recent lawsuit could allow: i) Dynegy to back away from the deal", "path": "kean-s/inbox/77."}, "s1301": {"from": "announcements.enron@enron.com", "to": "dl-ga-all_enron_worldwide6@enron.com", "subject": "Enron/Dynegy Merger; Antitrust Issues", "text": "rust laws require that Enron and Dynegy continue to operate independently of each other.  In particular, to the extent that Enron and Dynegy are competitors in various businesses or markets, their respective activities must be undertaken at arm's length until the transaction has closed.  Therefore, for antitrust purposes you should treat Dynegy as you would any other unaffiliated company notwithstanding the merger agreement.", "clipped": true, "phrase": "for antitrust purposes you should treat Dynegy as you would any other unaffiliated company notwithstanding the merger agreement", "path": "kean-s/inbox/83."}, "s1302": {"from": "announcements.enron@enron.com", "to": "dl-ga-all_enron_worldwide2@enron.com", "subject": "Enron/Dynegy Merger; Antitrust Issues", "text": "In addition, all information, documents and communications related to the merger between Enron and Dynegy should be coordinated through and approved by Mark Muller, Lance Schuler, Robert Eickenroht, Mark Haedicke, Rob Walls or Greg Whalley of Enron.  It is absolutely critical that this procedure be maintained.  To the extent that information is required to be disclosed to Dynegy under the merger agreement, then such disclosure should be approved by one of the foregoing individuals.", "clipped": true, "phrase": "all information, documents and communications related to the merger between Enron and Dynegy should be coordinated through and approved by Mark Muller, Lance Schuler, Robert Eickenroht, Mark Haedicke, Rob Walls or Greg Whalley of Enron", "path": "mann-k/inbox/378."}, "s1303": {"from": "announcements.enron@enron.com", "to": "dl-ga-all_enron_worldwide2@enron.com", "subject": "Enron/Dynegy Merger; Antitrust Issues", "text": "all information, documents and communications related to the merger between Enron and Dynegy should be coordinated through and approved by Mark Muller, Lance Schuler, Robert Eickenroht, Mark Haedicke, Rob Walls or Greg Whalley of Enron.  It is absolutely critical that this procedure be maintained.  To the extent that information is required to be disclosed to Dynegy under the merger agreement, then such disclosure should be approved by one of the foregoing individuals.\n\nIf you have any questions concerning this notice, please contact Lance Schuler (713/853-XXXX), Robert Eickenroht (713/853-XXXX), Mark Haedicke (713/853-XXXX) or Rob Walls (713/646-XXXX).  Thank you for your help in this matter.", "clipped": true, "phrase": "To the extent that information is required to be disclosed to Dynegy under the merger agreement, then such disclosure should be approved by one of the foregoing individuals.", "path": "mann-k/inbox/378."}, "s1381": {"from": "jr..legal@enron.com", "to": "dl-ga-all_enron_worldwide2@enron.com", "subject": "CORRECTION: Important Announcement Regarding Document Preservation.", "text": "5.  \tIf you have any e-mails that relate in any way to the LJM Deal, Chewco Investments L.P., including any accounting issues related to these transactions, please forward the e-mails to LJM.litigation@enron.com.\n\n6.   \tIf you have any e-mails that relate in any way to the proposed Dynegy merger, including any accounting issues related to these transactions, please forward the e-mails to dynegy.merger@enron.com.\n \t\n      7. \tIf you have any e-mails that relate in any way to the Enron Corp. Savings Plan, including any accounting issues related to these transactions, please forward the e-mails to enron.savingsplan@enron.com.", "clipped": true, "phrase": "If you have any e-mails that relate in any way to the proposed Dynegy merger, including any accounting issues related to these transactions, please forward the e-mails to dynegy.merger@enron.com.", "path": "kitchen-l/_americas/sec/2."}, "s1382": {"from": "jr..legal@enron.com", "to": "dl-ga-all_enron_worldwide2@enron.com", "subject": "CORRECTION: Important Announcement Regarding Document Preservation.", "text": "Effective immediately, please do the following:\n\n  \t1.   \tIf you have any voice mails that relate in any way to the LJM Deal or Chewco Investments L.P. including any accounting issues related to these transactions, please forward the voice mails to  x3-6800.\n\n2.  \tIf you have any voice mails that relate in any way to the proposed Dynegy merger or the Enron Corp. Savings Plan, including any accounting issues related to these transactions, please forward the voice mails to  x3-6803.\n\n3.  \tIf you have any voice mails that relate in any way to Enron's public statements regarding EBS, Azurix, New Power Co., or any voice mail regarding financial transactions involving these matters, including accounting issues related to these matters, please forward the voice mails to  x3-6801.", "clipped": true, "phrase": "If you have any voice mails that relate in any way to the proposed Dynegy merger or the Enron Corp. Savings Plan, including any accounting issues related to these transactions, please forward the voice mails to  x3-6803.", "path": "kitchen-l/_americas/sec/2."}, "s779": {"from": "chip.schneider@enron.com", "to": "louise.kitchen@enron.com, f..calger@enron.com, david.duran@enron.com,   \tl..barbour@enron.com, rick.bittner@enron.com,   \tkortney.brown@enron.com, andre.cangucu@enron.com,   \tbecky.caudle@enron.com, wendy.conwell@enron.com,   \tlacrecia.dave", "subject": "FW: CSFB IPP Weekly: DYN/ENE Deal Mitigates Overhang; MIR   MeetingPre view; New Regional Spark Spread Analysis", "text": "oriented utilities rose 5.5%, outperforming all major indices including the\nUTY (4.0%).  Constellation Energy, which was up 8.6%, was the strongest\nperformer in the group.  Cleco Corp was the weakest performer, improving\n3.4%.\n\n3. DYN/ENE Deal Removes Overhang   We attribute last week's strong\nperformance to indications of an imminent resolution to Enron's financial\ndifficulties in the form of an investment from Dynegy.  Late on Friday,\nthese reports proved true with Dynegy agreeing to acquire Enron and provide\nimmediate liquidity support.  Over the last few weeks, the group came under\npressure owing to concerns about Enron's deteriorating credit quality.  In\nparticular, IPP investors were concerned about the level of receivables\nexposure of various companies to Enron.  Further, some industry observers", "clipped": true, "phrase": "We attribute last week's strong\nperformance to indications of an imminent resolution to Enron's financial\ndifficulties in the form of an investment from Dynegy.", "path": "kitchen-l/_americas/esvl/573."}, "s1142": {"from": "nytdirect@nytimes.com", "to": "skean@enron.com", "subject": "Today's Headlines from NYTimes.com Thursday, November 22, 2001", "text": "Employees' Retirement Plan Is a Victim as Enron Tumbles\n\nThe rapid decline of the Enron Corporation has devastated\nits employees' retirement plan, which was heavy with\ncompany stock.\nhttp://www.nytimes.com/2001/11/22/business/22RETI.html?todaysheadlines\n\n-----\n \nCircling the Wagons Around Enron \n\nOfficials of Dynegy weighed whether to seek to renegotiate\nthe terms of the company's agreement to acquire Enron,\nwhile Enron and its bankers sought to shore up the\ncompany's finances.\nhttp://www.nytimes.com/2001/11/22/business/22ENRO.html?todaysheadlines \n\n-----\n\nReports Suggest Recovery Soon, but Not Exactly a Robust One\n\nThe economy remains weak but reports suggest it is no longer\nworsening, giving weight to the increasingly popular view\nthat a recovery is only a few months away.\nhttp://www.nytimes.com/2001/11/22/business/22ECON.html?todaysheadlines \n\n-----\n\nMORE BUSINESS NEWS:", "clipped": true, "phrase": "Officials of Dynegy weighed whether to seek to renegotiate\nthe terms of the company's agreement to acquire Enron,\nwhile Enron and its bankers sought to shore up the\ncompany's finances.", "path": "kean-s/deleted_items/439."}, "s1215": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions - 11/22/01", "text": "Copyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved. \t\n\nBusiness/Financial Desk; Section C\nCircling the Wagons Around Enron\nRisks Too Great To Let Trader Just Die\nBy ANDREW ROSS SORKIN and RIVA D. ATLAS\n\n11/22/2001\nThe New York Times\nPage 1, Column 2\nc. 2001 New York Times Company\n\nOfficials of Dynegy yesterday weighed whether to seek to renegotiate the terms of the company's agreement to acquire Enron, its Houston rival, while Enron and its bankers sought to shore up its finances, executives close to the two companies said. \nThe discussions came as the stock and energy markets continued to register doubts about the financial stability of Enron, the energy trading concern. Enron's stock fell another 27 percent, even though the company won a three-week reprieve from its banks on a $690 million note that would have come due next Tuesday if Enron had been unable to come up with collateral.", "clipped": true, "phrase": "Officials of Dynegy yesterday weighed whether to seek to renegotiate the terms of the company's agreement to acquire Enron, its Houston rival, while Enron and its bankers sought to shore up its finances", "path": "kitchen-l/_americas/sec_media/19."}, "s1151": {"from": "karen.denne@enron.com", "to": "kenneth.lay@enron.com, mark.frevert@enron.com, greg.whalley@enron.com,   \tj..kean@enron.com, pr <.palmer@enron.com>, mark.koenig@enron.com,   \tjames.derrick@enron.com, rex.rogers@enron.com,   \traymond.bowen@enron.com, jeffrey.mcmahon@enron.", "subject": "Articles", "text": "Dynegy announced Wednesday that it is working to accelerate regulatory approvals required to complete the acquisition in accordance with the previously announced agreement. \nThe Journal quoted analysts as saying Dynegy is coming under increasing pressure to renegotiate or walk away from the deal. \nIt also cited Fitch director Ralph Pellecchia as saying that, without the Dynegy acquisition and continued support from its bankers and customers, an Enron bankruptcy-court filing \"is highly possible\". \njms For more information and to contact AFX: www.afxnews.com and www.afxpress.com\n\n.....................................................................................................................................", "clipped": true, "phrase": "The Journal quoted analysts as saying Dynegy is coming under increasing pressure to renegotiate or walk away from the deal.", "path": "kean-s/deleted_items/460."}, "s1222": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions -  11/23/01", "text": "Copyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved. \t\n\nDynegy Deal To Buy Enron Hits Crossroads\nBy Rebecca Smith and John R. Emshwiller\nStaff Reporters of The Wall Street Journal\n\n11/23/2001\nThe Wall Street Journal\nA3\n(Copyright (c) 2001, Dow Jones & Company, Inc.)\n\nEven as it reiterated its intention to purchase Enron Corp., Dynegy Inc. is coming under increasing pressure to renegotiate or walk away from the multibillion-dollar deal. \nThe pressure is stemming from the continuing slide in the price of Enron shares and the mounting financial problems at the Houston energy-trading company, the nation's biggest marketer of electricity and natural gas. During the past month, Enron has taken a $1 billion write-off of assets, revised downward the earnings of the past several years and taken a $1.2 billion reduction in shareholder equity.", "clipped": true, "phrase": "Even as it reiterated its intention to purchase Enron Corp., Dynegy Inc. is coming under increasing pressure to renegotiate or walk away from the multibillion-dollar deal.", "path": "kean-s/deleted_items/477."}, "s1156": {"from": "karen.denne@enron.com", "to": "kenneth.lay@enron.com, mark.frevert@enron.com, greg.whalley@enron.com,   \tj..kean@enron.com, pr <.palmer@enron.com>, mark.koenig@enron.com,   \tjames.derrick@enron.com, rex.rogers@enron.com,   \traymond.bowen@enron.com, jeffrey.mcmahon@enron.", "subject": "Articles", "text": "Now analysts are challenging that assumption. Ron Barone, managing director at UBS Warburg LLC, said he believes that because of Enron's financial problems, a combined company would actually have lower earnings next year than Dynegy would have by itself. Mr. Barone said he thinks a \"likely scenario\" is that the merger formula will be renegotiated sharply down to about 0.15 Dynegy share for each Enron share. \nCopyright (c) 2001 Dow Jones & Company, Inc. \nAll Rights Reserved.\n\n..................................................................................................................................... \n\nFinancial Post Investing\nEnron casts pall on analysts: 'Everyone had a buy on the stock' all the way down\nSteve Maich\nFinancial Post, with files from news services\n\n11/23/2001\nNational Post \nNational\nIN1 / Front", "clipped": true, "phrase": "Mr. Barone said he thinks a \"likely scenario\" is that the merger formula will be renegotiated sharply down to about 0.15 Dynegy share for each Enron share.", "path": "kean-s/deleted_items/460."}, "s1177": {"from": "pr <.palmer@enron.com>", "to": "jeffrey.mcmahon@enron.com, raymond.bowen@enron.com, mark.koenig@enron.com,   \tj..kean@enron.com, elizabeth.tilney@enron.com, karen.denne@enron.com", "subject": "FW: Conference Call Number - If Needed", "text": "To: Tim Payne; Michael Buckley\nSubject: FW: Final release\n\n \n-----Original Message-----\nFrom: Steve Lipin \nSent: Monday, November 26, 2001 4:53 AM\nTo: 'Deborah.Fiorito@dynegy.com'\nSubject: RE: Final release\n\nDebbie,\nGot it, thanks.\nOn the issue of the headline and subheads, the news in my opinion is that the deal has been recut and we've all agreed to new terms. This is just a thought, but we say in the last paragraph \"As part of the revised merger agreement,\" but we never say anywhere higher up in the release that two sides have agreed to revised terms. It seems like the lede is buried given that it has already leaked that JPM and Citi would provide new money.", "clipped": true, "phrase": "the news in my opinion is that the deal has been recut and we've all agreed to new terms", "path": "kean-s/dynegy_transaction/13."}, "s1178": {"from": "pr <.palmer@enron.com>", "to": "jeffrey.mcmahon@enron.com, raymond.bowen@enron.com, mark.koenig@enron.com,   \tj..kean@enron.com, elizabeth.tilney@enron.com, karen.denne@enron.com", "subject": "FW: Conference Call Number - If Needed", "text": "and subheads, the news in my opinion is that the deal has been recut and we've all agreed to new terms. This is just a thought, but we say in the last paragraph \"As part of the revised merger agreement,\" but we never say anywhere higher up in the release that two sides have agreed to revised terms. It seems like the lede is buried given that it has already leaked that JPM and Citi would provide new money. \n \nAnyway, we're in agreement that we want to get this out before the market oagreement that we want to get this out before the market pens, and I will start calling banks at 6 AM NY time. \n \nBest,\nSteve\n \n---Original Message-----\nFrom: Deborah.Fiorito@dynegy.com [mailto:Deborah.Fiorito@dynegy.com]\nSent: Monday, November 26, 2001 3:54 AM\nTo: Steve Lipin\nSubject: Final release\n\nDeborah Fiorito\n11/26/2001 02:52 AM", "clipped": true, "phrase": "It seems like the lede is buried given that it has already leaked that JPM and Citi would provide new money.", "path": "kean-s/dynegy_transaction/13."}, "s1216": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions - 11/22/01", "text": "Dynegy officials worried yesterday that even talking about renegotiating the merger deal could damage confidence in Enron among investors and other energy traders. \nAn executive close to Dynegy said that there did not yet appear to be legal grounds on which to break up the deal unilaterally. Nor, he added, was Dynegy prepared to demand that Enron allow the terms of the deal to be changed. But he indicated that the situation could change.", "clipped": true, "phrase": "An executive close to Dynegy said that there did not yet appear to be legal grounds on which to break up the deal unilaterally.", "path": "kitchen-l/_americas/sec_media/19."}, "s1217": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions - 11/22/01", "text": "Dynegy officials worried yesterday that even talking about renegotiating the merger deal could damage confidence in Enron among investors and other energy traders. \nAn executive close to Dynegy said that there did not yet appear to be legal grounds on which to break up the deal unilaterally. Nor, he added, was Dynegy prepared to demand that Enron allow the terms of the deal to be changed. But he indicated that the situation could change.", "clipped": true, "phrase": "Dynegy officials worried yesterday that even talking about renegotiating the merger deal could damage confidence in Enron among investors and other energy traders.", "path": "kitchen-l/_americas/sec_media/19."}, "s1258": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions- 11/26/01", "text": "If Enron defaults, Citigroup would cease making payments to the trust. The single-A-plus-or-higher-rated securities in the trusts would go to Citigroup in exchange for the same nominal amount of now in-default Enron debt obligations. And with speculation mounting that Dynegy will reduce, or maybe even scrap, its offer to buy Enron, the chances of a such a default-driven transfer would appear to be rising. \nThese notes essentially are synthetic Enron debts, meaning they act like Enron bonds in many respects, but lack key components that make holders true creditors of Enron.", "clipped": true, "phrase": "with speculation mounting that Dynegy will reduce, or maybe even scrap, its offer to buy Enron", "path": "kean-s/deleted_items/504."}, "s1259": {"from": "nytdirect@nytimes.com", "to": "skean@enron.com", "subject": "Today's Headlines from NYTimes.com Tuesday, November 27, 2001", "text": "A group of economists said that the longest economic\nexpansion on record gave way earlier this year to the first\nrecession in a decade.\nhttp://www.nytimes.com/2001/11/27/business/27ECON.html?todaysheadlines\n\n-----\n \nEnron Talking With Dynegy as They Work to Rescue Deal \n\nThe Enron Corporation and its would-be rescuer, Dynegy Inc.,\nare talking about renegotiating the terms of their deal,\noriginally valued at $9 billion.\nhttp://www.nytimes.com/2001/11/27/business/27ENRO.html?todaysheadlines \n\n-----\n\nTop Companies Issuing Debt at a Fast Pace\n\nBlue-chip corporations are taking advantage of the chance to\nraise cash at bargain basement prices, thanks to low\ninterest rates, and to retire more expensive debt.\nhttp://www.nytimes.com/2001/11/27/business/27DEBT.html?todaysheadlines \n\n-----\n\nMORE BUSINESS NEWS:", "clipped": true, "phrase": "The Enron Corporation and its would-be rescuer, Dynegy Inc.,\nare talking about renegotiating the terms of their deal,\noriginally valued at $9 billion.", "path": "kean-s/deleted_items/483."}, "s1260": {"from": "carlos.sole@enron.com", "to": "kay.mann@enron.com", "subject": "FW: NYTimes.com Article: Enron Talking With Dynegy as They Work to   Rescue Deal", "text": "/-------------------- advertisement -----------------------\\\n\n<!--OAS SETUP=\"@Right2\"--><!--OAS AD=\"Right2\"-->\n\n\\----------------------------------------------------------/\n\nEnron Talking With Dynegy as They Work to Rescue Deal\n\nNovember 27, 2001\n\nBy RICHARD A. OPPEL Jr.and ANDREW ROSS SORKIN\n\nThe Enron Corporation and its would-be rescuer, Dynegy Inc.,\nare talking about renegotiating the terms of their deal,\noriginally valued at $9 billion.\n\nhttp://www.nytimes.com/2001/11/27/business/27ENRO.html?ex=1007838794&ei=1&en=54868bc9218b8f56\n\n/-----------------------------------------------------------------\\\n\n<!--OAS SETUP=\"@Right2\"--><!--OAS AD=\"Right2\"-->\n\n\\-----------------------------------------------------------------/\n\nHOW TO ADVERTISE\n---------------------------------\nFor information on advertising in e-mail newsletters\nor other creative advertising opportunities with The", "clipped": true, "phrase": "The Enron Corporation and its would-be rescuer, Dynegy Inc.,\nare talking about renegotiating the terms of their deal,\noriginally valued at $9 billion.", "path": "mann-k/inbox/361."}, "s1261": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "By Rebecca Smith and Robin Sidel\nStaff Reporters of The Wall Street Journal\n\n11/27/2001\nThe Wall Street Journal\nA3\n(Copyright (c) 2001, Dow Jones & Company, Inc.)\n\nEnron Corp., struggling to save its two-week-old deal to be acquired by Dynegy Inc., was in advanced discussions with Dynegy to cut the price of the all-stock transaction by more than 40% to about $5 billion, according to people familiar with the matter. \nBeleaguered Enron also was in continuing negotiations to extend the maturity dates of some of its borrowings in order to stem a growing liquidity crisis, these people said. Enron has total debt of about $13 billion. Increasingly, analysts are worried that the giant energy-trading concern's relatively few hard assets are so encumbered by debt that they can't be used to support further borrowing.", "clipped": true, "phrase": "was in advanced discussions with Dynegy to cut the price of the all-stock transaction by more than 40% to about $5 billion", "path": "kitchen-l/_americas/sec_media/16."}, "s1263": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "People close to the discussions said the new ratio is expected to be less than 0.15 share of Dynegy stock for every share of Enron stock, which would value Enron at less than $6 a share, or about $5 billion. \nAnother contentious issue concerns the amount of additional capital Enron needs to shore up its finances. A week ago, the company disclosed it may have to post hundreds of millions of dollars or more to honor collateral calls before the end of the year. The problem for potential lenders is finding good assets to back these continued infusions of capital sought by Enron.", "clipped": true, "phrase": "the new ratio is expected to be less than 0.15 share of Dynegy stock for every share of Enron stock, which would value Enron at less than $6 a share, or about $5 billion", "path": "kitchen-l/_americas/sec_media/16."}, "s1266": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "Negotiators for the two companies returned to their home bases of Houston yesterday after spending much of the holiday weekend meeting in suburban New York where they tried to agree on new provisions to the deal, which was announced Nov. 9. Both Dynegy and Enron declined to comment on the discussions.", "clipped": true, "phrase": "Negotiators for the two companies returned to their home bases of Houston yesterday after spending much of the holiday weekend meeting in suburban New York", "path": "kitchen-l/_americas/sec_media/16."}, "s1267": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "There were several issues still on the table last night, and the situation was very fluid, the executives said. But they said that the companies hoped to announce, perhaps as early as today, a series of changes: a lower price for the takeover; a cash infusion of $500 million; an agreement by some banks to extend the repayment dates of Enron debt until after the deal closes; and possibly an agreement making clear that the merger would not be derailed by litigation over Enron's devastated employee-retirement plan.", "clipped": true, "phrase": "the companies hoped to announce, perhaps as early as today, a series of changes: a lower price for the takeover; a cash infusion of $500 million", "path": "kitchen-l/_americas/sec_media/16."}, "s1268": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "The sides were also negotiating ways to tighten clauses in the merger agreement so that Dynegy would not be able to use information from Enron's recent filing with the Securities and Exchange Commission as a reason for backing out of the deal. \nBoth companies declined to comment on whether renegotiations were taking place.", "clipped": true, "phrase": "negotiating ways to tighten clauses in the merger agreement so that Dynegy would not be able to use information from Enron's recent filing", "path": "kitchen-l/_americas/sec_media/16."}, "s1274": {"from": "elizabeth.tilney@enron.com", "to": "pr <.palmer@enron.com>, j..kean@enron.com", "subject": "Enron Corp.: Dynegy Confirms -3: Deal May Be Cut More Than 40% -WSJ", "text": "---------------------- Forwarded by Elizabeth Tilney/HOU/EES on 11/27/2001 11:54 AM ---------------------------\n\nPeggy Mahoney\n11/27/2001 11:45 AM\nTo:\tElizabeth Tilney/HOU/EES@EES\ncc:\t \nSubject:\tEnron Corp.: Dynegy Confirms -3: Deal May Be Cut More Than 40% -WSJ\n\nDoesn't have the facts about 401K.  Need to move fast. \n---------------------- Forwarded by Peggy Mahoney/HOU/EES on 11/27/2001 11:45 AM ---------------------------\n\ndjcustomclips@djinteractive.com on 11/27/2001 10:18:51 AM\nPlease respond to nobody@mail1.djnr.com\nTo:\t1529@WCTOPICS.djnr.com\ncc:\t \nSubject:\tEnron Corp.: Dynegy Confirms -3: Deal May Be Cut More Than 40% -WSJ\n\nDynegy Confirms -3: Deal May Be Cut More Than 40% -WSJ\n\n11/27/2001", "clipped": true, "phrase": "Dynegy Confirms -3: Deal May Be Cut More Than 40% -WSJ", "path": "kean-s/deleted_items/501."}, "s1285": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions- 11/27/01", "text": "Some other companies, like Dynegy Inc. (DYN), Duke Energy Corp. (DUK) and BP PLC. (BP), continue to trade with Enron fairly freely, the broker said. Dynegy has reached an agreement to acquire Enron, though the terms of that deal are being renegotiated. The trading subsidiaries of troubled California utility-holding companies PG&E Corp. (PCG) and Edison International (EIX) also are trading with Enron.", "clipped": true, "phrase": "Dynegy has reached an agreement to acquire Enron, though the terms of that deal are being renegotiated.", "path": "kean-s/deleted_items/505."}, "s1287": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions- 11/27/01", "text": "(C) Reuters Limited 2001.\nHOUSTON, Nov 27 (Reuters) - Energy trader Dynegy Inc. confirmed on Tuesday it was in talks with floundering rival Enron Corp. over their proposed merger, as sources familiar with the negotiations indicated the final buyout price may be slashed some 40 percent. \n\"I can confirm that we are in discussions with the parties involved in the transaction related to the deal,\" Dynegy spokesman John Sousa told Reuters. He declined to give further details.\nDynegy had planned to buy its Houston rival for $9 billion in stock and is currently in a \"due diligence\" examination of Enron's complex financial books that began before the Thanksgiving holiday last Thursday.", "clipped": true, "phrase": "\"I can confirm that we are in discussions with the parties involved in the transaction related to the deal,\" Dynegy spokesman John Sousa told Reuters.", "path": "kean-s/deleted_items/505."}, "s1292": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions- 11/27/01", "text": "(C) Reuters Limited 2001.\nHOUSTON, Nov 27 (Reuters) - Energy trader Dynegy Inc. confirmed on Tuesday it was in talks with floundering rival Enron Corp. over their proposed merger, as sources familiar with the negotiations indicated the final buyout price may be slashed some 40 percent. \n\"I can confirm that we are in discussions with the parties involved in the transaction related to the deal,\" Dynegy spokesman John Sousa told Reuters. He declined to give further details.\nDynegy had planned to buy its Houston rival for $9 billion in stock and is currently in a \"due diligence\" examination of Enron's complex financial books that began before the Thanksgiving holiday last Thursday.", "clipped": true, "phrase": "\"I can confirm that we are in discussions with the parties involved in the transaction related to the structure of a deal,\" Dynegy spokesman Steve Stengel said.", "path": "kean-s/deleted_items/505."}, "s1296": {"from": "carlos.sole@enron.com", "to": "kay.mann@enron.com", "subject": "FW: Enron mentions 112701 4 p.m.", "text": "Copyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved. \t\nUSA: UPDATE 3-Dynegy says in talks on Enron merger structure.\nBy C. Bryson Hull\n\n11/27/2001\nReuters English News Service\n(C) Reuters Limited 2001.\nHOUSTON, Nov 27 (Reuters) - Energy trader Dynegy Inc. confirmed on Tuesday it was in talks with floundering rival Enron Corp. over their proposed merger, as sources familiar with the negotiations indicated the final buyout price may be slashed some 40 percent. \n\"I can confirm that we are in discussions with the parties involved in the transaction related to the deal,\" Dynegy spokesman John Sousa told Reuters. He declined to give further details.\nDynegy had planned to buy its Houston rival for $9 billion in stock and is currently in a \"due diligence\" examination of Enron's complex financial books that began before the Thanksgiving holiday last Thursday.", "clipped": true, "phrase": "Energy trader Dynegy Inc. confirmed on Tuesday it was in talks with floundering rival Enron Corp. over their proposed merger, as sources familiar with the negotiations indicated the final buyout price may be slashed some 40 percent.", "path": "mann-k/deleted_items/179."}, "s1346": {"from": "peggy.mccurley@enron.com", "to": "louise.kitchen@enron.com", "subject": "An article from CBS.MarketWatch.com", "text": "rkets always fluctuate and we haven't seen anything extraordinary.\" Treasury said that outside its surveillance of credit markets, it would refer any inquiries on energy trading to the Federal Energy Regulatory Commission or the Commodity Futures Trading Commission.  Earlier in the day   [IMAGE]    Dynegy, which had originally offered to buy Enron for $9 billion in stock, confirmed Tuesday that the two companies were discussing a new deal structure, and it said ahead of the credit-ratings and eventual termination news Wednesday that discussions were continuing.  \"I'm not aware of any changes in any status of the merger,\" Dynegy spokesman John Sousa said before the S&P announcement. The merger agreement contained a material adverse-affect clause that, if triggered, allowed Dynegy to walk away from the deal.  The decline in Enron's stock price and information contained in the company's 10-Q", "clipped": true, "phrase": "Dynegy, which had originally offered to buy Enron for $9 billion in stock, confirmed Tuesday that the two companies were discussing a new deal structure", "path": "kitchen-l/_americas/esvl/426."}, "s1282": {"from": "carlos.sole@enron.com", "to": "kay.mann@enron.com", "subject": "RE: Look what I just found on iWon.com!", "text": "Enron and Dynegy discussed revising the terms of their merger over the weekend, said Steve Stengel, spokesman for Dynegy. Dynegy is now talking about paying less than 0.15 share for each of Enron's, valuing the company's equity at about $5 billion, or less than $6 per share, the Wall Street Journal reported, citing people close to the discussions. \n\nTerms \n\n``The concern is that the Dynegy deal breaks down,'' said Paul Tice, co-head of U.S. high-grade credit research who covers the energy market for Deutsche Bank.", "clipped": true, "phrase": "Dynegy is now talking about paying less than 0.15 share for each of Enron's, valuing the company's equity at about $5 billion, or less than $6 per share", "path": "mann-k/deleted_items/174."}, "s1289": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions- 11/27/01", "text": "The buyout offer, finalized Nov. 9, would have had Dynegy paying about $10.41 for each share of Enron, but Enron's shares have since cratered to near $4, stoking investor fears the merger will not go through as planned - if at all. \nThe stock exchange ratio under discussion could fall from the originally proposed valuation of 0.2685 of each Dynegy share for each Enron share to around 0.15 instead, sources familiar with the matter told Reuters. Enron is willing to accept the lower valuation, given the pressure on its stock price, the sources said.", "clipped": true, "phrase": "The stock exchange ratio under discussion could fall from the originally proposed valuation of 0.2685 of each Dynegy share for each Enron share to around 0.15 instead", "path": "kean-s/deleted_items/505."}, "s1270": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "According to executives close to the talks, details were still being worked out on the cash infusion, which would come from Citigroup and J. P. Morgan Chase. Dynegy may also add cash to the deal while reaffirming the company's commitment to the merger. \nExecutives at rival trading companies said Dynegy needed to do something to bolster confidence in Enron's trading operations. \n''In places, Enron is paying up to 4 or 5 or 6 cents more for next-day gas,'' said an executive at one large energy trader. ''Some producers out there don't want to sell additional discretionary gas to Enron, so they're having to pay up.''", "clipped": true, "phrase": "Dynegy may also add cash to the deal while reaffirming the company's commitment to the merger.", "path": "kitchen-l/_americas/sec_media/16."}, "s1313": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "oposed share-exchange ratio values Enron at $4.91 a share, or a total of $4.17 billion. This would compare with the original value of $10.98 a share, or $9.33 billion. In exchange for reducing the purchase price, some members of the Enron team were insisting on more control over the merged company. Dynegy also was considering an additional $250 million cash investment in Enron. Dynegy, together with ChevronTexaco Inc., has already injected $1.5 billion into Enron in an effort to stabilize the company. \nTalks between Enron and Dynegy were said to be tense and occasionally acrimonious. \nAt 4 p.m., Enron shares were up 10 cents to $4.11, while Dynegy shares were up $1.64 to $40.89, in New York Stock Exchange composite trading.", "clipped": true, "phrase": "Dynegy also was considering an additional $250 million cash investment in Enron.", "path": "kitchen-l/_americas/sec_media/14."}, "s1291": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions- 11/27/01", "text": "Also on the table were negotiations to extend maturation of Enron's debt past the close of the merger, expected in the third quarter of 2002. The sources said an announcement was possible on a new infusion of at least $500 million in cash, which Enron has said it was seeking.", "clipped": true, "phrase": "Also on the table were negotiations to extend maturation of Enron's debt past the close of the merger, expected in the third quarter of 2002.", "path": "kean-s/deleted_items/505."}, "s1293": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions- 11/27/01", "text": "Earlier Tuesday, a Dynegy spokesman confirmed the company was in talks to restructure the Enron acquisition. Separately, a person familiar with the negotiations said the talks are centered on creating a package that includes a lower exchange ratio for Enron shareholders, a provision for additional funding for Enron, and the refinancing of Enron's existing debt.\nEven with the boost Enron shares have received from the reports, they continue to trade at a sharp discount to the original deal's value. Enron shares recently traded at $4.30, up 29 cents, or 7.2%, while Dynegy shares changed hands at $41.50, up $2.25, or 5.8%.", "clipped": true, "phrase": "the talks are centered on creating a package that includes a lower exchange ratio for Enron shareholders, a provision for additional funding for Enron, and the refinancing of Enron's existing debt", "path": "kean-s/deleted_items/505."}, "s1294": {"from": "eric.thode@enron.com", "to": "louise.kitchen@enron.com", "subject": "Counterparty Statements", "text": "Once we have the recommitment from Dynegy and/or the bank debt restructured, Steve Kean and Mark Palmer would like to have some counterparties identified who would be willing to step up to the plate and reconfirm their willingness to trade with Enron or state that they have come back online.  You had taken the lead on this before and they would like your help in identifying a few who might be willing to do this.  Please advise.\n\nEric", "clipped": false, "phrase": "Once we have the recommitment from Dynegy and/or the bank debt restructured, Steve Kean and Mark Palmer would like to have some counterparties identified", "path": "kitchen-l/_americas/sec/6."}, "s1311": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "\"I hope they err on the conservative side and stockpile cash,\" said Ralph Pellecchia, analyst for Fitch, the credit-rating agency. \nWith few viable options remaining, Enron's board late yesterday informally agreed to a new share-exchange ratio of 0.12 shares of Dynegy for each Enron share tendered, down more than 50% from the original offer of 0.2685 Dynegy share for each Enron share, according to one person familiar with the situation. But the talks were still fluid as of late yesterday.", "clipped": true, "phrase": "Enron's board late yesterday informally agreed to a new share-exchange ratio of 0.12 shares of Dynegy for each Enron share tendered, down more than 50% from the original offer of 0.2685 Dynegy share for each Enron share", "path": "kitchen-l/_americas/sec_media/14."}, "s1312": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "The latest proposed share-exchange ratio values Enron at $4.91 a share, or a total of $4.17 billion. This would compare with the original value of $10.98 a share, or $9.33 billion. In exchange for reducing the purchase price, some members of the Enron team were insisting on more control over the merged company. Dynegy also was considering an additional $250 million cash investment in Enron. Dynegy, together with ChevronTexaco Inc., has already injected $1.5 billion into Enron in an effort to stabilize the company.", "clipped": true, "phrase": "The latest proposed share-exchange ratio values Enron at $4.91 a share, or a total of $4.17 billion.", "path": "kitchen-l/_americas/sec_media/14."}, "s1332": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "\"To do this, we will work to retain the employees necessary to the continuing operations of our trading and other core energy businesses.\" \nDynegy had been in talks to acquire Enron in a stock swap that valued Enron at $4.91 a share, or $4.17 billion in total, down 50% from Dynegy's original offer on Nov. 9. \n\nDynegy also said it was still going through with its acquisition of Enron natural gas pipeline unit Northern Natural, Omaha, Neb., and said it exercised its right to acquire the unit's common shares. \nShares of Enron, which had been halted on the New York Stock Exchange at $1.19, traded recently at 77 cents, down $3.34, or 81.3%, on volume of 202.3 million shares. Average daily volume is 23.3 million shares.", "clipped": true, "phrase": "Dynegy had been in talks to acquire Enron in a stock swap that valued Enron at $4.91 a share, or $4.17 billion in total, down 50% from Dynegy's original offer on Nov. 9.", "path": "kitchen-l/_americas/sec_media/13."}, "s1315": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "Talks between Enron and Dynegy were said to be tense and occasionally acrimonious. \nAt 4 p.m., Enron shares were up 10 cents to $4.11, while Dynegy shares were up $1.64 to $40.89, in New York Stock Exchange composite trading.", "clipped": true, "phrase": "Talks between Enron and Dynegy were said to be tense and occasionally acrimonious.", "path": "kitchen-l/_americas/sec_media/14."}, "s1317": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "The latest proposed share-exchange ratio values Enron at $4.91 a share, or a total of $4.17 billion. This would compare with the original value of $10.98 a share, or $9.33 billion. In exchange for reducing the purchase price, some members of the Enron team were insisting on more control over the merged company. Dynegy also was considering an additional $250 million cash investment in Enron. Dynegy, together with ChevronTexaco Inc., has already injected $1.5 billion into Enron in an effort to stabilize the company. \nTalks between Enron and Dynegy were said to be tense and occasionally acrimonious. \nAt 4 p.m., Enron shares were up 10 cents to $4.11, while Dynegy shares were up $1.64 to $40.89, in New York Stock Exchange composite trading.", "clipped": true, "phrase": "In exchange for reducing the purchase price, some members of the Enron team were insisting on more control over the merged company.", "path": "kitchen-l/_americas/sec_media/14."}, "s1309": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "Both Dynegy and Enron insist the deal's still on, and Enron's shares recovered slightly after its lead lender gave it more time to pay off a $690 million loan. Still, it could take six to nine months to finalize the deal. \nForward Spin \nHELPING HANDS Congress returns from Thanksgiving recess to work that will involve a lot of giving and no small measure of thanks. The defense appropriations bill will get early and generous attention, followed by an economic stimulus bill that will be greeted with hands extended, asking that time-honored question: Where's mine?", "clipped": true, "phrase": "Both Dynegy and Enron insist the deal's still on, and Enron's shares recovered slightly after its lead lender gave it more time to pay off a $690 million loan.", "path": "kitchen-l/_americas/sec_media/14."}, "s1310": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "Both Dynegy and Enron insist the deal's still on, and Enron's shares recovered slightly after its lead lender gave it more time to pay off a $690 million loan. Still, it could take six to nine months to finalize the deal. \nForward Spin \nHELPING HANDS Congress returns from Thanksgiving recess to work that will involve a lot of giving and no small measure of thanks. The defense appropriations bill will get early and generous attention, followed by an economic stimulus bill that will be greeted with hands extended, asking that time-honored question: Where's mine?", "clipped": true, "phrase": "Still, it could take six to nine months to finalize the deal.", "path": "kitchen-l/_americas/sec_media/14."}, "s1321": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "Bloomberg, 11/28/01\n\nEnron Office Tower Project in Limbo After Dynegy Ends Purchase\nBloomberg, 11/28/01\n\nWRAP: Dynegy Terminates Troubled Merger Pact With Enron\n\n11/28/2001\nDow Jones News Service\n(Copyright (c) 2001, Dow Jones & Company, Inc.)\n\nHOUSTON -(Dow Jones)- Dynegy Inc. (DYN) terminated its troubled merger agreement with Enron Corp. (ENE), backing away from the deal despite frantic last-minute attempts by both sides to save it. \nDynegy Wednesday cited Enron's breaches of representations, warranties, convenants and agreements, including the material adverse change provision.\nThe announcement came after Standard & Poor's cut the beleaguered energy trader's debt rating to B-minus, essentially rendering it to junk status.", "clipped": true, "phrase": "Dynegy Inc. (DYN) terminated its troubled merger agreement with Enron Corp. (ENE), backing away from the deal despite frantic last-minute attempts by both sides to save it.", "path": "kitchen-l/_americas/sec_media/13."}, "s1322": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "11/28/2001\nDow Jones News Service\n(Copyright (c) 2001, Dow Jones & Company, Inc.)\n\nHOUSTON -(Dow Jones)- Dynegy Inc. (DYN) terminated its troubled merger agreement with Enron Corp. (ENE), backing away from the deal despite frantic last-minute attempts by both sides to save it. \nDynegy Wednesday cited Enron's breaches of representations, warranties, convenants and agreements, including the material adverse change provision.\nThe announcement came after Standard & Poor's cut the beleaguered energy trader's debt rating to B-minus, essentially rendering it to junk status. \nThe downgrade triggered financial covenants and raised the possibility that Enron will be forced to file for protection under Chapter 11 of the federal bankruptcy code. That could be a fatal blow for Enron, which needs huge sums of cheap money to keep its trading operations alive.", "clipped": true, "phrase": "Dynegy Wednesday cited Enron's breaches of representations, warranties, convenants and agreements, including the material adverse change provision.", "path": "kitchen-l/_americas/sec_media/13."}, "s1335": {"from": "peggy.mccurley@enron.com", "to": "louise.kitchen@enron.com", "subject": "An article from CBS.MarketWatch.com", "text": "ion worth of market capitalization from Tuesday to Wednesday.  Close to 342 million Enron shares had changed hands Wednesday by the close, and the stock broke the all-time volume record of 309 million shares set by Intel on Sept. 22, 2000. Dynegy (DYN ) shares lost $4.92, or 12 percent, to $35.97.  Saying in a conference call that it had to \"protect\" its shareholders, Dynegy announced it had terminated its agreement with Enron, citing \"Enron's breaches of representations, warranties, covenants and agreements in the merger agreement, including the material adverse change provision.\"   Company-specific problems?  Dynegy Chairman and Chief Executive Chuck Watson said: \"some of the best deals are the ones that don't get done.\"   \"While it is regrettable to see a leading industry player in difficulties, this does not reflect a failure of the energy merchant business,\" he s", "clipped": true, "phrase": "Saying in a conference call that it had to \"protect\" its shareholders, Dynegy announced it had terminated its agreement with Enron", "path": "kitchen-l/_americas/esvl/426."}, "s1354": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions- 11/28/01", "text": "than 342 million shares, the most traded ever for a U.S. stock.\nThe company's 6.4 percent bonds, which mature in 2006, were quoted\nas low as 20 cents on the dollar, down from 53 yesterday. At that\nprice the bonds yield 57 percent.\n\n                            Termination\n\n     Dynegy said it abandoned the takeover ``due to breaches by\nEnron of representations, warrants, and covenants.'' Chief\nExecutive Officer Chuck Watson said Dynegy invoked its right to\npurchase Enron's Northern Natural Gas pipeline. Dynegy received\nthe right to do so in exchange for an investment of $1.5 billion\nin Enron by ChevronTexaco Corp., which owns one quarter of Dynegy.\nThe unit operates 16,500 miles of natural gas pipeline.\n\n     ``Sometimes the best deals are the ones you do not do,'' said", "clipped": true, "phrase": "Dynegy said it abandoned the takeover ``due to breaches by\nEnron of representations, warrants, and covenants.''", "path": "kitchen-l/_americas/sec_media/11."}, "s1374": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions- 11/29/01", "text": "Europe Funds' Exposure To Enron Limited; Many Sold Early \nDow Jones International News, 11/29/01\n\nEnron metals trading staff say BNP, Coke Metals, HSBC rumoured possible buyers\nAFX News, 11/29/01\n\nEnron Said To Guarantee Europe Pwr Delivery Only Thu, Fri\nDow Jones Energy Service, 11/29/01\n\nUSA: Dynegy cites deterioration in Enron operations.\nReuters English News Service, 11/29/01\n\nCSFB: Three Big Banks Have $1.5B Loan Exposure To Enron\nDow Jones Capital Markets Report, 11/29/01\n\nUSA: UPDATE 1-Daschle says Congress needs answers on Enron.\nReuters English News Service, 11/29/01\n\nEnron Crisis Hits Four Japanese Money Mgmt Funds - Nikkei\nDow Jones International News, 11/29/01\n\nEnron Bonds Signal Anticipated Enron Bankruptcy Filing\nDow Jones Capital Markets Report, 11/29/01", "clipped": true, "phrase": "USA: Dynegy cites deterioration in Enron operations.", "path": "kitchen-l/_americas/sec_media/7."}, "s1334": {"from": "peggy.mccurley@enron.com", "to": "louise.kitchen@enron.com", "subject": "An article from CBS.MarketWatch.com", "text": "Dynegy abandons Enron deal  Shares of energy trader plunge, bankruptcy looms     By Lisa Sanders, CBS.MarketWatch.com   Newswatch  More Headlines        HOUSTON (CBS.MW) -- Dynegy Corp. on Wednesday abandoned its plan to rescue Enron Corp. after Enron's credit ratings were cut to junk-bond status, raising the prospects of a bankruptcy filing for what was once the largest U.S. energy trader.  Enron shares (ENE ) closed at 61 cents, down $3.50, having lost as much as 85 percent of their value on the day and having collapsed from a 52-week high of almost $85 just 11 months ago. The company lost around $2.6 billion worth of market capitalization from Tuesday to Wednesday.  Close to 342 million Enron shares had changed hands Wednesday by the", "clipped": true, "phrase": "Dynegy Corp. on Wednesday abandoned its plan to rescue Enron Corp. after Enron's credit ratings were cut to junk-bond status", "path": "kitchen-l/_americas/esvl/426."}, "s1359": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "Credit Markets\nWhy Credit Agencies Didn't Switch Off Enron --- S&P Cries `Junk,' But the Warning Comes Too Late\nBy Gregory Zuckerman and Jathon Sapsford\nStaff Reporters of The Wall Street Journal\n\n11/29/2001\nThe Wall Street Journal\nC1\n(Copyright (c) 2001, Dow Jones & Company, Inc.)\n\nAt 10:57 a.m. EST yesterday, an announcement came out that effectively scuttled Dynegy Inc.'s proposed takeover of Enron Corp. It was issued not by the two companies or their bankers, but by a behind-the-scenes player that was pivotal in the deal from the start.", "clipped": true, "phrase": "At 10:57 a.m. EST yesterday, an announcement came out that effectively scuttled Dynegy Inc.'s proposed takeover of Enron Corp.", "path": "kitchen-l/_americas/sec_media/10."}, "s1360": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "The news came from Standard & Poor's, which lowered Enron's credit rating to \"junk\" status, because of concern about the energy trading company's financial condition. The move, followed by similar downgrades by Moody's Investors Service Inc. and Fitch Inc. several hours later, prompted Dynegy to announce that it was walking away from the multibillion dollar deal.\nThe downgrades highlight the key role that credit-rating agencies -- which are sometimes only bit players -- are having in one of the biggest Wall Street dramas in years. Before they became deal breakers, the ratings agencies had emerged as unlikely deal makers just a few weeks ago, by leaving Enron little choice but to seek a merger partner or face a downgrade that would have made it difficult to keep running its business.", "clipped": true, "phrase": "The move, followed by similar downgrades by Moody's Investors Service Inc. and Fitch Inc. several hours later, prompted Dynegy to announce that it was walking away from the multibillion dollar deal.", "path": "kitchen-l/_americas/sec_media/10."}, "s1375": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions- 11/29/01", "text": "NewPower had 805,000 customers at the end of the third\nquarter and said it expects to have 840,000 to 860,000 by the end\nof the year. Most electricity customers are in Texas. Georgia is\nits largest gas market, Doar said. It also has business in Ohio,\nPennsylvania and elsewhere.\n\n     Dynegy Inc. yesterday abandoned its bid for rival Enron, once\nthe biggest energy trader, after Standard & Poor's cut\ncash-strapped Enron's credit rating to junk status. Enron and\nDynegy are based in Houston.\n\n     Enron had $544 million in third-quarter losses on\ninvestments, including NewPower.\n\n     NewPower reaffirmed it expects to lose 65 cents to 73 cents a\nshare this quarter. It was expected to lose 72 cents, the average\nestimate of three analysts polled by Thomson Financial/First Call.\n\n     Shares of NewPower rose 5 cents to 95 cents in early\nafternoon trading. They had fallen 91 percent this year. Enron,", "clipped": true, "phrase": "Dynegy Inc. yesterday abandoned its bid for rival Enron, once\nthe biggest energy trader, after Standard &amp; Poor's cut\ncash-strapped Enron's credit rating to junk status.", "path": "kitchen-l/_americas/sec_media/7."}, "s1323": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "STOCKWATCH Enron down 85 pct as Dynegy walks out of merger deal\nAFX News, 11/28/01\nEnron temporarily suspends all payments except those needed to maintain ops\nAFX News, 11/28/01\nCalPERS May Discuss Enron, Action Against Co. In Dec\nDow Jones Energy Service, 11/28/01\nDynegy calls off $8.4 billion takeover of Enron after credit downgrade\nAssociated Press Newswires, 11/28/01\nDynegy Terminates Merger With Enron; Conference Call Scheduled for 12:30 CST, 1:30 p.m. EST\nBusiness Wire, 11/28/01\nDynegy Pull out of Enron Purchase; Credit Ratings Cut (Update6)\nBloomberg, 11/28/01\n\nEnron's Online Trading Unit Has Stopped, Traders Say (Update2)\nBloomberg, 11/28/01\n\nEnron's 401(k) Plan Was Set Up for Fall: David Wilson (Update1)\nBloomberg, 11/28/01", "clipped": true, "phrase": "Dynegy calls off $8.4 billion takeover of Enron after credit downgrade", "path": "kitchen-l/_americas/sec_media/13."}, "s1348": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "That happened on Wednesday. \nWithin about a two-hour period, the rating agencies cut their senior unsecured debt ratings for Enron - to \"B-minus\" by S&P, to \"B2\" by Moody's, and to \"CC\" by Fitch. \nAlmost simultaneous with the Fitch downgrade, Dynegy announced it had backed out of the $9 billion merger. \nThe three big rating agencies are paid by companies to assess their ability to repay debt. Many companies need these ratings to raise money from investors. Sometimes, though, the agencies face criticism for being too slow to act, or being susceptible to outside pressure.", "clipped": true, "phrase": "Almost simultaneous with the Fitch downgrade, Dynegy announced it had backed out of the $9 billion merger.", "path": "kitchen-l/_americas/sec_media/12."}, "s1424": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions- 11/30/01", "text": "services began in December and was ended without penalties, AGL\nspokesman Russ Williams said. He said he didn't know the value of\nthe pact.\n\n     Enron, facing the disintegration of its energy-trading\nbusiness and saddled with $15 billion in debt, probably will file\nfor bankruptcy, analysts say. Rival Dynegy Inc. withdrew a buyout\nbid Wednesday after Standard & Poor's cut Enron's debt rating to\njunk status.\n\n     Atlanta-based AGL said its business exposure to Enron was\n``minimal,'' and the end of the contract eliminates the prospect\nof losses tied to Enron. AGL has 1.8 million customers in Georgia,\nsoutheast Virginia and Chattanooga, Tennessee.\n\n     Shares of Enron, which reached $84.88 just 11 months ago,\nfell 10 cents to 26 cents. AGL fell 57 cents to $21.43.\n\nArthur Andersen's Enron Audit Is Under Review by SEC (Update1)", "clipped": true, "phrase": "Rival Dynegy Inc. withdrew a buyout\nbid Wednesday after Standard &amp; Poor's cut Enron's debt rating to\njunk status.", "path": "kitchen-l/_americas/sec_media/3."}, "s1353": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions- 11/28/01", "text": "New York, Nov. 28 (Bloomberg) -- Dynegy Inc. abandoned a\ntakeover for Enron Corp., leaving the country's largest energy\ntrader facing bankruptcy.\n\n     Enron shares plunged 85 percent to below $1 on concern the\ncompany can't repay its $15 billion in debt. Dynegy withdrew after\nbankers failed to raise $1.5 billion Enron needed to operate until\nthe acquisition was completed. Credit rating companies lowered\nEnron's rating to junk.\n\n     ``The reality is Enron's going bankrupt,'' said Michael\nWillingham, a risk manager at Itochu International Inc., a unit of\na Japanese trading firm. ``Enron touted themselves as the king of\nrisk management, but it doesn't look like they've managed their\nrisk very well.''\n\n     Enron's sudden collapse -- $26 billion of market value", "clipped": true, "phrase": "Dynegy withdrew after\nbankers failed to raise $1.5 billion Enron needed to operate until\nthe acquisition was completed.", "path": "kitchen-l/_americas/sec_media/11."}, "s1365": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions- 11/29/01", "text": "weeks, its board has presided over a $26 billion drop in market\nvalue that began after the company wrote down $1.2 billion in\nshareholder equity and reported it had overstated earnings by $586\nmillion since 1997.\n\n     As Enron's shares fell, the company suffered a cash crunch.\nIt sought an infusion of capital and agreed to be acquired by\nDynegy Inc., a Houston-based rival. That plan collapsed yesterday\nas investors balked at investing $1.5 billion, prompting Dynegy to\nwithdraw its offer. Enron shares closed at 61 cents.\n\n                          Responsibility\n\n     Corporate boards are responsible for protecting shareholder\ninterests by reviewing the work of top executives. To accomplish\nthat, two-thirds of a board should be ``independent'' from\nmanagement, according to the Council of Institutional Investors,\nwhich represents pension funds.\n\n    The council defines an independent director as ``a person", "clipped": true, "phrase": "It sought an infusion of capital and agreed to be acquired by\nDynegy Inc., a Houston-based rival. That plan collapsed yesterday\nas investors balked at investing $1.5 billion, prompting Dynegy to\nwithdraw its offer.", "path": "kitchen-l/_americas/sec_media/9."}, "s1368": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions- 11/29/01", "text": "exchange for a $1.5 billion investment in Enron by ChevronTexaco\nCorp., which owns one-fourth of Dynegy.\n\n     Enron might use bankruptcy to prevent Dynegy from walking\naway from the buyout and claiming ownership to the pipeline.\n\n     The Dynegy acquisition, valued at $23 billion when it was\nproposed on Nov. 9, collapsed as bankers failed to raise the $1.5\nbillion Enron needed to operate until the deal was completed. The\nlack of funds and a credit downgrade contributed to Dynegy's\ndecision.\n\n     Bankers led by J.P. Morgan Chase & Co. Vice Chairman James B.\nLee tried for two weeks to raise the cash Enron needed. Investors\nturned them down because of heightened concern Enron wouldn't be\nable to pay its debts.\n\n     Three credit-rating agencies yesterday cut Enron's credit\nrating to junk status, triggering an acceleration of the company's\ndebt obligations.", "clipped": true, "phrase": "The Dynegy acquisition, valued at $23 billion when it was\nproposed on Nov. 9, collapsed as bankers failed to raise the $1.5\nbillion Enron needed to operate until the deal was completed.", "path": "kitchen-l/_americas/sec_media/9."}, "s1421": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions- 11/30/01", "text": "shareholder equity and reported it had overstated earnings by $586\nmillion since 1997.\n\n                          Responsibility\n\n     As Enron's shares fell, the company suffered a cash crunch.\nIt sought an infusion of capital and agreed to be acquired by\nDynegy Inc., a Houston-based rival. That plan collapsed yesterday\nas investors balked at investing $1.5 billion, prompting Dynegy to\nwithdraw its offer. Enron shares today fell another 39 percent, or\n24 cents, to 37 cents per share. The stock began the year trading\nat $83.125.\n\n     Corporate boards are responsible for protecting shareholder\ninterests by reviewing the work of top executives. To accomplish\nthat, two-thirds of a board should be ``independent'' from\nmanagement, according to the Council of Institutional Investors,\nwhich represents pension funds.", "clipped": true, "phrase": "That plan collapsed yesterday\nas investors balked at investing $1.5 billion, prompting Dynegy to\nwithdraw its offer.", "path": "kitchen-l/_americas/sec_media/3."}, "s1347": {"from": "peggy.mccurley@enron.com", "to": "louise.kitchen@enron.com", "subject": "An article from CBS.MarketWatch.com", "text": "y used the money to purchase 100 percent of the preferred shares of Northern Natural Gas.  Enron has 180 days from the date the merger agreement was signed, Nov. 9, to repurchase the pipeline system, Watson said. Enron said in a statement that it was reviewing Dynegy's claim of rights to Northern.  Enron representatives did not participate in the call, and Dynegy executives said they had been advised against the customary practice of taking questions.  Enron said it has temporarily suspended payments \"other than those necessary to maintain\" its core energy businesses and added that it is exploring options to keep those operations alive. \"To do this, we will work to retain the employees necessary to the continuing operations of our trading and other core energy businesses,\" said Enron Chairman and CEO Ken Lay.  Enron told employees their questions would be answered in due course and they would", "clipped": true, "phrase": "Enron representatives did not participate in the call, and Dynegy executives said they had been advised against the customary practice of taking questions.", "path": "kitchen-l/_americas/esvl/426."}, "s1349": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "The agencies - Standard & Poor's, Moody's Investors Service and Fitch - denied being influenced to keep Enron's once investment-grade ratings, or they declined to discuss the issue. \nObservers, though, said investment banks arranging Enron's now-dissolved merger with once-smaller rival Dynegy Inc. - Citigroup Inc. and J.P. Morgan Chase & Co. - had been fighting to preserve those ratings. They now stand to lose millions of dollars of advisory fees with the merger's collapse. \n\"S&P and Moody's have stated that they're not going to be the cause of problems for a company, and in my opinion waited until Dynegy decided not to proceed with the merger,\" said Sean Egan, managing director at Egan-Jones Ratings Co. in Philadelphia. Egan-Jones on Wednesday cut its own debt rating for Enron to \"C,\" one notch above default. \nANGER GROWS", "clipped": true, "phrase": "investment banks arranging Enron's now-dissolved merger with once-smaller rival Dynegy Inc. - Citigroup Inc. and J.P. Morgan Chase &amp; Co. - had been fighting to preserve those ratings.", "path": "kitchen-l/_americas/sec_media/12."}, "s1337": {"from": "peggy.mccurley@enron.com", "to": "louise.kitchen@enron.com", "subject": "An article from CBS.MarketWatch.com", "text": "\"   Company-specific problems?  Dynegy Chairman and Chief Executive Chuck Watson said: \"some of the best deals are the ones that don't get done.\"   \"While it is regrettable to see a leading industry player in difficulties, this does not reflect a failure of the energy merchant business,\" he said.   Dynegy President and Chief Operating Officer Steve Bergstrom said that energy traders have had weeks to prepare for Enron's diminished role in the business and that the industry has suffered \"no degradation,\" as he put it.  \"There has been a clear flight to quality, and it's occurring as we speak,\" Bergstrom said. \"Dynegydirect is a highly scalable platform.\"  Dynegydirect is a platform much like Enron's flagship EnronOnline, which it turned off Wednesday and which just a month ago was the largest online energy-trading platform, accounting for an average of $3 billion in trades a day.  Dynegy's tra", "clipped": true, "phrase": "Dynegy President and Chief Operating Officer Steve Bergstrom said that energy traders have had weeks to prepare for Enron's diminished role in the business", "path": "kitchen-l/_americas/esvl/426."}, "s1370": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions- 11/29/01", "text": "Washington, Nov. 29 (Bloomberg) -- Enron Corp. may file for\nbankruptcy protection in the biggest Chapter 11 reorganization in\nhistory, forcing the largest U.S. energy trader to liquidate\nbillions of dollars in assets to pay creditors.\n\n     Dynegy Inc. yesterday abandoned its proposed merger with\nEnron, leaving the Houston-based company burdened with debt and\nthe likelihood of insolvency. Some analysts said bankruptcy is\ninevitable and may come as early as today. A bankruptcy filing by\nEnron, which reported more than $61 billion in assets, would top\nTexaco Inc.'s record $35.9 billion case filed in 1987.\n\n     Under Chapter 11 protection, Enron officials could continue\nto control the company while negotiating a recovery plan with\ncreditors. An ``automatic stay'' under U.S. bankruptcy law would", "clipped": true, "phrase": "Dynegy Inc. yesterday abandoned its proposed merger with\nEnron, leaving the Houston-based company burdened with debt and\nthe likelihood of insolvency.", "path": "kitchen-l/_americas/sec_media/9."}, "s1390": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions", "text": "bank, dropped 1.4 percent to 2.55.\n\n     ``The theme of the day is to sell banks because they are\nexposed to Enron,'' said Daniele Savare, who helps manage 120\nmillion euros ($106 million) at Bipielle Asset Management. ``In\nsome cases, the reaction may be a bit overdone.''\n\n     Dynegy Inc. yesterday abandoned its proposed merger with\nEnron, leaving the Houston-based company burdened with debt and\nthe likelihood of insolvency. Some analysts said bankruptcy is\ninevitable and may come as early as today. A bankruptcy filing by\nEnron, which reported more than $61 billion in assets, would be\nthe biggest Chapter 11 reorganization in history.\n\n     ``I've heard Intesa is the most exposed, to the tune of\nbetween 400 billion and 500 billion lire ($183 million-$229", "clipped": true, "phrase": "Dynegy Inc. yesterday abandoned its proposed merger with", "path": "kitchen-l/_americas/sec_media/6."}, "s1396": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions- 11/30/01", "text": "making a clean break from its buyout offer to energy trader Enron\nCorp., the New York Times reported.\n\n     Dynegy, whose bond rating is under pressure, may face a\nlawsuit from Enron and questions from investors about why it\ndidn't scrutinize Enron's books more closely, the Times said.\nDynegy's decision to back out of the $9 billion acquisition leaves\nEnron on the verge of bankruptcy.\n\n     The Houston-based rival of Enron must now convince investors\nand rating agencies that it has less in common with Enron than it\nsaid earlier this month, the paper said. With Enron out of the\nway, Dynegy may be able to expand its energy trading business.\nHowever, some worry that Enron's collapse has revealed previously\nundiscovered risks that energy trading companies may face, the\nTimes said.", "clipped": true, "phrase": "Dynegy's decision to back out of the $9 billion acquisition leaves", "path": "kitchen-l/_americas/sec_media/5."}, "s1415": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions- 11/30/01", "text": "pipeline owner, had revenue of $1.29 billion on derivatives\ntrading in 2000.\n\n     Paul Spraos, president of Swaps Monitor, a research company\nthat compiles trading figures, said Enron only posts derivatives\nstatistics once a year so there are no figures for 2001.\n\n     Dynegy Inc. abandoned its planned merger with Enron on\nWednesday, leaving it with more than $15 billion of debt and the\npossibility of bankruptcy. As well as oil and gas futures, Enron\ntrades derivatives based on such things as weather and information-\ntransmission capacity, known as bandwidth.\n\n                        Banned From Trading\n\n     Spraos estimates that as of Sept. 30, Enron owed $18.7\nbillion on derivatives trades that went sour, though he said that\ndoesn't take into account the collateral Enron probably posted to\nback up the trades.", "clipped": true, "phrase": "Dynegy Inc. abandoned its planned merger with Enron on\nWednesday, leaving it with more than $15 billion of debt and the\npossibility of bankruptcy.", "path": "kitchen-l/_americas/sec_media/3."}, "s1416": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions- 11/30/01", "text": "Enron's Legal Woes to Make Bankruptcy Case Complex,\n\n     Houston, Nov. 30 (Bloomberg) -- Enron Corp.'s legal problems,\none reason for the collapse of the world's largest energy trader,\nwould add to the complexity of a bankruptcy filing and might take\nyears to resolve, experts say.\n\n     With Dynegy Inc. having withdrawn a proposed $23 billion\ntakeover offer, Enron is weighing what would be the largest\nbankruptcy in history and may go to court within a week. Enron\nshareholders, employees and business partners are lining up to sue\nthe Houston-based company after its shares lost $26 billion in\nvalue since mid-October.\n\n     Enron restated $586 million in earnings because of accounting\nirregularities, and questions surfaced about conflicts of interest\namong some of the company's executives. The U.S. Securities and", "clipped": true, "phrase": "With Dynegy Inc. having withdrawn a proposed $23 billion\ntakeover offer, Enron is weighing what would be the largest\nbankruptcy in history", "path": "kitchen-l/_americas/sec_media/3."}, "s1371": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "Enron-Dynegy Merger Collapse Roils Europe's Power Mkts\nBy Sarah Wachter\nOf DOW JONES NEWSWIRES\n\n11/29/2001\nDow Jones Energy Service\n(Copyright (c) 2001, Dow Jones & Company, Inc.)\n\nPARIS -(Dow Jones)- Amid news that Enron Corp. (ENE) will spin off its European operations, the collapse of a buyout from Dynegy Inc. (DYN) touched off a bout of volatile, frantic buying in European power markets Thursday, prompting questions about financial liabilities for the region's power companies if Enron declares bankruptcy.", "clipped": true, "phrase": "the collapse of a buyout from Dynegy Inc. (DYN) touched off a bout of volatile, frantic buying in European power markets Thursday", "path": "kitchen-l/_americas/sec_media/8."}, "s1372": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "\"The banks that were involved in trying to rescue the bank recently..were also involved in overlooking their credit book and potentially making a bid to take it into their own book,\" said one trader. \nShares in Enron fell 85 percent to 61 cents after a rescue deal by smaller rival Dynegy Inc fell apart on Wednesday. On Thursday the company said it may not pay previously declared dividends.\n\nCopyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved. \t\n\nUK: Enron Europe splits from U.S. parent.\n\n11/29/2001\nReuters English News Service\n(C) Reuters Limited 2001.", "clipped": true, "phrase": "Shares in Enron fell 85 percent to 61 cents after a rescue deal by smaller rival Dynegy Inc fell apart on Wednesday.", "path": "kitchen-l/_americas/sec_media/8."}, "s1373": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "Since Enron revealed a $1.2 billion reduction in shareholder equity last month related to controversial transactions with entities connected to former Chief Financial Officer Andrew Fastow, the company has taken a nosedive that was only momentarily relieved when it looked as if Dynegy might step in and rescue the company. \nMost trading partners were quick to stop trading forward with Enron, although some continued, and almost all U.K. companies have some exposure to Enron. Several also continued trading short term contracts. \nWith the company as it is, there are two options for counterparties.", "clipped": true, "phrase": "the company has taken a nosedive that was only momentarily relieved when it looked as if Dynegy might step in and rescue the company.", "path": "kitchen-l/_americas/sec_media/8."}, "s1378": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions- 11/29/01", "text": "By Mark Long\nOf DOW JONES NEWSWIRES\n\n11/29/2001\nDow Jones Energy Service\n(Copyright (c) 2001, Dow Jones & Company, Inc.)\nLONDON -(Dow Jones)- Three major spot power market exchanges suspended Enron Corp.'s (ENE) right to trade Thursday, but the one-time energy giant's major European counterparties were more relaxed about their exposure to the company, indicating they had made full use of the breathing space afforded by Dynegy Inc.'s (DYN) unsuccessful rescue bid. \nUKPX banned Enron from spot power trade Thursday because it defaulted on contracts. Nord Pool suspended Enron's trading rights because Enron failed to meet margin requirements. APX declined to comment on why Enron was suspended from U.K. trade. Spanish pool operator OMEL was unavailable to comment on Enron's status as a market participant in Spain.", "clipped": true, "phrase": "major European counterparties were more relaxed about their exposure to the company, indicating they had made full use of the breathing space afforded by Dynegy Inc.'s (DYN) unsuccessful rescue bid.", "path": "kitchen-l/_americas/sec_media/7."}, "s1377": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions- 11/29/01", "text": "trading today. Margins are deposits traders must make with the\nexchange when buying or selling futures contracts to ensure\nobligations will be met.\n\n     While the exchange gave no reason for the increase, the\ndecision followed a day of wide changes in natural gas prices. The\nswings began after Dynegy Inc. abandoned plans to purchase Enron,\nonce the biggest gas trader. Traders grew concerned that Enron\nmight be forced into bankruptcy.\n\nEnron Metals Close to Finding a Buyer, Administrators Say\n2001-11-29 13:32 (New York)\n\nEnron Metals Close to Finding a Buyer, Administrators Say\n\n     London, Nov. 29 (Bloomberg) -- Enron Corp.'s metals unit, one\nof the biggest traders on the London Metal Exchange, is close to\nbeing sold, its administrator said, an accord that would end an 18-", "clipped": true, "phrase": "The\nswings began after Dynegy Inc. abandoned plans to purchase Enron,\nonce the biggest gas trader.", "path": "kitchen-l/_americas/sec_media/7."}, "s1389": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions", "text": "trading today. Margins are deposits traders must make with the\nexchange when buying or selling futures contracts to ensure\nobligations will be met.\n\n     While the exchange gave no reason for the increase, the\ndecision followed a day of wide changes in natural gas prices. The\nswings began after Dynegy Inc. abandoned plans to purchase Enron,\nonce the biggest gas trader.\n\nDynegy CEO Says He'd Rather Have Enron Pipeline Than $1.5 Bln\n2001-11-29 14:56 (New York)\n\nDynegy CEO Says He'd Rather Have Enron Pipeline Than $1.5 Bln\n\n     Houston, Nov. 29, (Bloomberg) -- Dynegy Inc. Chairman Chuck\nWatson said he would rather take over an Enron pipeline than get\nback the $1.5 billion investment that entitles Dynegy to the line.\n\n     Watson said Dynegy expects to take over operation of the", "clipped": true, "phrase": "swings began after Dynegy Inc. abandoned plans to purchase Enron,", "path": "kitchen-l/_americas/sec_media/6."}, "s1410": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions- 11/30/01", "text": "The lull after Wednesday morning's collapse of Dynegy Inc.'s (DYN) acquisition of Enron was deceptive. On Thursday afternoon, Mirant (MIR) told Enron it would make no more power and gas deliveries to the company starting Saturday, the first day of the new month. A couple of other companies followed suit by Friday morning.", "clipped": true, "phrase": "The lull after Wednesday morning's collapse of Dynegy Inc.'s (DYN) acquisition of Enron was deceptive.", "path": "kitchen-l/_americas/sec_media/4."}, "s1362": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "Ronald J. Barone, managing director for energy research at UBS Warburg, said EnronOnline's value to prospective acquirers will drop quickly in coming days, if the business continues to decline. \n\"Dynegy really liked EnronOnline, but look at how much business the platform's been losing,\" said Mr. Barone, who downgraded Enron's stock yesterday to a hold. \"There's also a question of how many more skeletons there are in the closet.\" \nIn commodity trading yesterday:", "clipped": true, "phrase": "\"Dynegy really liked EnronOnline, but look at how much business the platform's been losing,\" said Mr. Barone, who downgraded Enron's stock yesterday to a hold.", "path": "kitchen-l/_americas/sec_media/10."}, "s1363": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "11/29/2001\nThe Wall Street Journal\nC1\n(Copyright (c) 2001, Dow Jones & Company, Inc.)\n\nLess than a month ago, Enron Corp.'s electronic trading system was the largest of its kind in the world, accounting for a quarter of all the natural gas and electricity delivered in the U.S. \nYesterday, the system was shut down, a victim of Enron's failed deal with Dynegy Inc.\nWhile the rise and sudden fall of Enron rippled throughout financial markets yesterday, nowhere was it more immediately evident than in energy trading, an arena utterly transformed by Enron in recent years.", "clipped": true, "phrase": "Yesterday, the system was shut down, a victim of Enron's failed deal with Dynegy Inc.", "path": "kitchen-l/_americas/sec_media/10."}, "s1379": {"from": "jr..legal@enron.com", "to": "dl-ga-all_enron_worldwide2@enron.com", "subject": "Important Announcement Regarding Document Preservation.", "text": "5.  \tIf you have any e-mails that relate in any way to the LJM Deal, Chewco Investments L.P., including any accounting issues related to these transactions, please forward the e-mails to LJM.litigation@enron.com.\n\n6.   \tIf you have any e-mails that relate in any way to the proposed Dynegy merger, including any accounting issues related to these transactions, please forward the e-mails to dynegy.merger@enron.com.\n \t\n      7. \tIf you have any e-mails that relate in any way to the Enron Corp. Savings Plan, including any accounting issues related to these transactions, please forward the e-mails to enron.savingsplan@enron.com.", "clipped": true, "phrase": "If you have any e-mails that relate in any way to the proposed Dynegy merger, including any accounting issues related to these transactions, please forward the e-mails to dynegy.merger@enron.com.", "path": "kitchen-l/_americas/sec/3."}, "s1380": {"from": "jr..legal@enron.com", "to": "dl-ga-all_enron_worldwide2@enron.com", "subject": "Important Announcement Regarding Document Preservation.", "text": "Effective immediately, please do the following:\n\n  \t1.   \tIf you have any voice mails that relate in any way to the LJM Deal or Chewco Investments L.P. including any accounting issues related to these transactions, please forward the voice mails to  x3-6800.\n\n2.  \tIf you have any voice mails that relate in any way to the proposed Dynegy merger or the Enron Corp. Savings Plan, including any accounting issues related to these transactions, please forward the voice mails to  x3-6802.\n\n3.  \tIf you have any voice mails that relate in any way to Enron's public statements regarding EBS, Azurix, New Power Co., or any voice mail regarding financial transactions involving these matters, including accounting issues related to these matters, please forward the voice mails to  x3-6801.", "clipped": true, "phrase": "If you have any voice mails that relate in any way to the proposed Dynegy merger or the Enron Corp. Savings Plan", "path": "kitchen-l/_americas/sec/3."}, "s1463": {"from": "c..koehler@enron.com", "to": "drew.fossum@enron.com, colleen.raker@enron.com", "subject": "Ardmore facilities", "text": "As a follow up to our meeting last week with Colleen on the Ardmore facility, I had a conversation this morningwith Richard Sanders concerning the status of the settlement negotiations with Dynegy concerning Northern Natural Gas. I understand from Richard that part of the settlement will be an agreement that will allow Enron Corp to continue to lease the Ardmore facility as a data center. \n\nI just wanted to remind everyone that the lease also needs to allow Enron to provide space to NETCO for its hardware during a transition period until NETCO can relocate its hardware to a new data center. \tThe lease also needs to make it clear that access to the Ardmore facility needs to be under Enron's control.", "clipped": true, "phrase": "I understand from Richard that part of the settlement will be an agreement that will allow Enron Corp to continue to lease the Ardmore facility as a data center.", "path": "kitchen-l/_americas/esvl/188."}, "s1464": {"from": "c..koehler@enron.com", "to": "drew.fossum@enron.com, colleen.raker@enron.com", "subject": "Ardmore facilities", "text": "Similarily the software license that Enron will retain covering all the Enron developed software will also need to provide that Enron can use the covered software to provide services to third parties such as AEP, Bridgeline and Northern Natural Gas.\tIf anyone has any questions, please give me a call.\t\t\t\t\t\t\t\n\nAnne C. Koehler\nSr. Counsel\nEnron Wholesale Services\n1400 Smith Street, EB3839\nHouston, Texas  77002\nPhone:  713/853-XXXX    Fax:  713/646-XXXX\nanne.c.koehler@enron.com", "clipped": true, "phrase": "the software license that Enron will retain covering all the Enron developed software will also need to provide that Enron can use the covered software to provide services to third parties such as AEP, Bridgeline and Northern Natural Gas.", "path": "kitchen-l/_americas/esvl/188."}, "s797": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions - 11/09/01-11/10/01", "text": "Enron's shareholders will own only 36 percent of the combined company, and Dynegy will name at least 11 members of the company's 14-member board. \nIf the deal falls apart, Enron or Dynegy will have to pay a breakup fee of $350 million. \nTo protect Dynegy's and ChevronTexaco's cash infusion, the money will go to an Enron unit that owns the Northern Natural Gas Pipeline. If the merger is not completed, Dynegy will have the right to buy the unit. \nAn army of bankers and lawyers advised the companies. Lehman Brothers Inc. acted as financial adviser and Baker Botts and Akin, Gump, Strauss, Hauer & Feld acted as counsel for Dynegy. J. P. Morgan & Company and Salomon Smith Barney acted as financial advisers for Enron, and Vinson & Elkins and Weil Gotshal & Manges acted as the company's counsel. Pillsbury Winthrop served as counsel to ChevronTexaco.", "clipped": true, "phrase": "To protect Dynegy's and ChevronTexaco's cash infusion, the money will go to an Enron unit that owns the Northern Natural Gas Pipeline. If the merger is not completed, Dynegy will have the right to buy the unit.", "path": "kitchen-l/_americas/sec_media/40."}, "s1218": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions - 11/22/01", "text": "The new investments would be in Enron's Transwestern Pipeline, which links natural gas fields in Texas to the California market, they said. The deals would be structured like Dynegy's agreement, as part of the merger, to infuse $1.5 billion into the Enron subsidiary that owns the Northern Natural Gas pipeline. That arrangement lets Dynegy keep the pipeline even if the merger falls apart. \nBesides talking with other potential investors, J. P. Morgan Chase and Citigroup agreed to terms that have each taking a $250 million equity stake in such a deal, the executives said. The bankers plan to meet with Enron officials on Monday to complete the transactions, they added.", "clipped": true, "phrase": "The deals would be structured like Dynegy's agreement, as part of the merger, to infuse $1.5 billion into the Enron subsidiary that owns the Northern Natural Gas pipeline.", "path": "kitchen-l/_americas/sec_media/19."}, "s1386": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions", "text": "Watson said Dynegy expects to take over operation of the\n16,500-mile Northern Natural pipeline system by Dec. 19.\nChevronTexaco Corp., which owns 26 percent of Dynegy, gave Enron\n$1.5 billion to help the cash-strapped company stay in business.\n\n    The investment, part of Dynegy's plan to buy Enron, was backed\nby the Northern Natural system. Dynegy backed out of the merger\nyesterday, and said it would exercise its right to take over the\nline.\n\n     Watson said he hopes that Northern Natural employees will\ncontinue to operate the pipeline after Dynegy takes ownership.\n\nItalian Banks Fall on Concern About Enron Exposure (Update2)\n2001-11-29 14:20 (New York)\n\nItalian Banks Fall on Concern About Enron Exposure (Update2)", "clipped": true, "phrase": "The investment, part of Dynegy's plan to buy Enron, was backed", "path": "kitchen-l/_americas/sec_media/6."}, "s1429": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "Northern Natural Gas Co. pipeline.\n\n     Enron sued in federal court seeking $10 billion in damages\nand asking the court to prevent Dynegy from taking over the\npipeline.\n\n     The dispute came after Dynegy canceled its $23 billion buyout\nagreement with Enron on Wednesday. Dynegy had invested $1.5\nbillion in Enron to help keep it running until the merger could be\ncompleted. To back its investment, Dynegy got all the preferred\nstock in the Northern Natural line.\n\n     Enron's suit accuses Dynegy of using the takeover bid to get\nthe pipeline and remove, rather than rescue, a competitor. Dynegy\nsays Enron didn't disclose all the debt it was obligated to pay\nand that it clearly has the right back out of the merger and take\nover the line or get its $1.5 billion back with interest.\n\n     Dynegy's suit in Harris County District Court in Houston", "clipped": true, "phrase": "Dynegy had invested $1.5\nbillion in Enron to help keep it running until the merger could be\ncompleted. To back its investment, Dynegy got all the preferred\nstock in the Northern Natural line.", "path": "kitchen-l/_americas/sec_media/2."}, "s890": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "Dynegy announced a deal Friday to buy Enron at a fire-sale price of almost $9 billion in stock, plus the assumption of about $13 billion in debt and $2 billion in preferred stock. The merger is expected to close, barring holdups from regulators, in six to nine months. \nAs part of the agreement, Dynegy stakeholder ChevronTexaco is giving Dynegy $1.5 billion, which is to be infused today to help shore up Enron's liquidity and preserve its trading franchise. \nSome of Enron's former trading partners are still steering clear of the giant. \nTo facilitate transactions, the various energy trading firms extend credit to one another. Those agreements are contingent upon a partner maintaining an adequate rating. \nIf the credit rating firms had downgraded Enron's debt to junk status, its trading operation would have been devastated, industry officials said.", "clipped": true, "phrase": "As part of the agreement, Dynegy stakeholder ChevronTexaco is giving Dynegy $1.5 billion, which is to be infused today to help shore up Enron's liquidity and preserve its trading franchise.", "path": "kitchen-l/_americas/sec_media/36."}, "s906": {"from": "s..bradford@enron.com", "to": "fhilton@aep.com", "subject": "RE:", "text": "Enron maintains its investment grade credit rating and is receiving $1.5 billion of additional funded equity capital from Dynegy as announced on Friday.  We are more than happy to continue helping you to reduce exposures in mutually agreeable manners but do not agree to the below list of requests.  We need you to address these above issues before we can progress on these exposure reductions.\n\nRegards,\nBill\n\n -----Original Message-----\nFrom: \tksbrown1@aep.com@ENRON   On Behalf Of fhilton@aep.com\nSent:\tTuesday, November 13, 2001 12:19 PM\nTo:\twbradfo@ect.enron.com\nSubject:", "clipped": true, "phrase": "Enron maintains its investment grade credit rating and is receiving $1.5 billion of additional funded equity capital from Dynegy as announced on Friday.", "path": "kitchen-l/_americas/esvl/549."}, "s941": {"from": "s..bradford@enron.com", "to": "louise.kitchen@enron.com", "subject": "FW:", "text": "Enron maintains its investment grade credit rating and is receiving $1.5 billion of additional funded equity capital from Dynegy as announced on Friday.  We are more than happy to continue helping you to reduce exposures in mutually agreeable manners but do not agree to the below list of requests.  We need you to address these above issues before we can progress on these exposure reductions.\n\nRegards,\nBill\n\n -----Original Message-----\nFrom: \tksbrown1@aep.com@ENRON   On Behalf Of fhilton@aep.com\nSent:\tTuesday, November 13, 2001 12:19 PM\nTo:\twbradfo@ect.enron.com\nSubject:", "clipped": true, "phrase": "Enron maintains its investment grade credit rating and is receiving $1.5 billion of additional funded equity capital from Dynegy as announced on Friday.", "path": "kitchen-l/_americas/esvl/539."}, "s942": {"from": "timothy.blanchard@enron.com", "to": "matthew.lenhart@enron.com, eric.bass@enron.com, bryan.hull@enron.com", "subject": "FW: Highlights from ENE Analyst Conference Call 11/14", "text": "?\tEnron is in active pursuit of an additional private equity infusion of $500MM-1Bn.  Given the current environment, raising equity in the public markets would be 'inefficient', McMahon says.\n?\tShort-term liquidity is provided by the $3Bn of credit drawn upon a few weeks ago, the $1Bn of new debt, and the $1.5Bn equity infusion from Dynegy.  Longer-term, the proceeds from the sale of PGE will provide liquidity.  Asset sales over the next year will be used to pay down debt.\n?\tMcMahon described the major off-balance-sheet vehicles:", "clipped": true, "phrase": "Short-term liquidity is provided by the $3Bn of credit drawn upon a few weeks ago, the $1Bn of new debt, and the $1.5Bn equity infusion from Dynegy.", "path": "lenhart-m/deleted_items/422."}, "s912": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions", "text": "The chain of events prompted a series of credit rating downgrades and raised doubts about Enron's liquidity. Eventually, the concerns threatened Enron's core energy marketing and trading business because a perception of creditworthiness is vital to the business. \nIzatt said a combination of $1 billion in newly secured bank lines and the $1.5 billion equity infusion from Dynegy has bolstered Enron's financial position. \nWith this additional cash on hand, the greatest risk to bondholders is whether the deal closes, said Izatt. \nThe analyst added he expects the merger to close because both companies are committed to the deal, and he expects regulators to approve the transaction. \n\"There is a lot of commitment to get the deal done,\" he said.", "clipped": true, "phrase": "Izatt said a combination of $1 billion in newly secured bank lines and the $1.5 billion equity infusion from Dynegy has bolstered Enron's financial position.", "path": "kitchen-l/_americas/sec_media/35."}, "s873": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "By FLOYD NORRIS\n\n11/13/2001\nThe New York Times\nPage 1, Column 5\nc. 2001 New York Times Company\n\nDynegy has negotiated a great takeover. And it may end up buying Enron, too. \nAs part of its planned acquisition of Enron, Dynegy will get the crown jewel even if the overall deal falls apart. In return for its $1.5 billion investment today, Dynegy has the right to acquire Northern Natural Gas, a pipeline system that is probably worth more.\nAs Dynegy stock soared 14 percent yesterday, Enron's lagged behind, rising just 7 percent. [Page C13.] \nThat widened the spread -- the profit a trader could lock in by buying Enron and selling Dynegy short, assuming the deal goes through -- to 28 percent.", "clipped": true, "phrase": "In return for its $1.5 billion investment today, Dynegy has the right to acquire Northern Natural Gas, a pipeline system that is probably worth more.", "path": "kitchen-l/_americas/sec_media/36."}, "s874": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "Full details of the agreement between the companies will not be known until the merger agreement is filed with the Securities and Exchange Commission today or tomorrow. But it appears that if the agreement falls apart for any reason, Dynegy has the right to keep the pipeline without putting up any additional cash. \nSpeaking to analysts yesterday, Rob Doty, chief financial officer at Dynegy, said the company was paying about seven or eight times the cash flow of the pipeline business.", "clipped": true, "phrase": "But it appears that if the agreement falls apart for any reason, Dynegy has the right to keep the pipeline without putting up any additional cash.", "path": "kitchen-l/_americas/sec_media/36."}, "s986": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions - 11/17/01 - 11/18/01", "text": ": ''STOCKS IN THE NEWS'' AMR NYSE: AMR The stock of the parent company of American Airlines, along with other airline companies, rebounded on factors including lower oil prices and passage of the aviation security bill. Friday's Close: $20.06 Week's Change: +10.65% EST. '01 P/E: -- Dynegy NYSE: DYN As part of its planned $9 billion acquisition of Enron, Dynegy will receive the right to acquire Northern Natural Gas, a potentially lucrative pipeline system, even if the larger deal is not completed. Friday's Close: $42.47 Week's Change: +9.57% EST. '01 P/E: 20.29 Home Depot NYSE: HD The nation's largest home-improvement chain said its third-quarter profit rose 20 percent over the year-earlier period. Friday's Close: $45.80 Week's Change: +8.76% EST. '01 P/E: 36.03 Dell Computer NNM: DELL Rebounding from a loss in the second quarter, Dell reported a third-quarter profit of $429 mil lion. The company also predict d that PC sales would increas", "clipped": true, "phrase": "As part of its planned $9 billion acquisition of Enron, Dynegy will receive the right to acquire Northern Natural Gas, a potentially lucrative pipeline system, even if the larger deal is not completed.", "path": "kean-s/deleted_items/369."}, "s1433": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "and that it clearly has the right back out of the merger and take\nover the line or get its $1.5 billion back with interest.\n\n     Dynegy's suit in Harris County District Court in Houston\nseeks a temporary injunction to force Enron to transfer the 16,500-\nmile pipeline to Dynegy, citing a provision in the buyout that\nallowed Dynegy ``automatic possession'' of the pipeline if the\nacquisition fell through. Dynegy also asked that the court\npermanently award it the pipeline.\n\n     Shares of Dynegy fell $3.18, or 10 percent, to $27.17. Enron\nrose 14 cents to 40 cents. Both companies are based in Houston.\n\n--Jim Kennett and Margot Habiby in Houston, (713) 353-XXXX,\n\nEnron Insiders Sold More Than $1.2 Billion in Stock Since 1990\n2001-12-03 16:37 (New York)\n\nEnron Insiders Sold More Than $1.2 Billion in Stock Since 1990", "clipped": true, "phrase": "citing a provision in the buyout that\nallowed Dynegy ``automatic possession'' of the pipeline if the\nacquisition fell through.", "path": "kitchen-l/_americas/sec_media/2."}, "s1440": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "In a counter suit filed Monday in Harris County, Texas, Dynegy seeks immediate control of the Northern National pipeline company. \nUnder the terms of the cross-town rivals' original merger agreement, Dynegy received an option to buy the coveted property - even if the merger fell apart - after it injected $1.5 billion into Enron. \nNow, however, that's a matter for the courts to decide. \n\"This is a kind of lawyers' paradise,\" said Tom Burnett, president of Merger Insight, an affiliate of Wall Street Access. \"The risk to Dynegy is that that contract won't hold up to buy the Northern Natural Gas assets. A bankruptcy judge may decide to hold an auction.\" \nIn that event, Dynegy would be left with an equity stake in Enron.", "clipped": true, "phrase": "Under the terms of the cross-town rivals' original merger agreement, Dynegy received an option to buy the coveted property - even if the merger fell apart - after it injected $1.5 billion into Enron.", "path": "kitchen-l/_americas/sec_media/2."}, "s1194": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions - 11/26/01", "text": "Wendy's International Inc., is three or four years ahead of Dynegy's, says Steve Bergstrom, president of Dynegy. Watson says he still plans to get rid of the $8 billion worth of assets Lay had earmarked for sale, including the Portland (Ore.) General Electric plant and oil and gas assets in India. For the $1.5 billion, though, if the deal falls through Dynegy will have the right to Enron's prized Northern Natural Gas pipeline, worth an estimated $2.25 billion. And Dynegy can walk away if Enron's legal liabilities exceed $3.5 billion. \nWatson firmly believes that Enron suffered from a crisis of confidence, not a meltdown of its core business. Indeed, Enron's wholesale-trading operation earned $2.3 billion last year. Says Watson: ``We know the business. We looked under the hood, and guess what? It's just as strong as we thought it was.''", "clipped": true, "phrase": "For the $1.5 billion, though, if the deal falls through Dynegy will have the right to Enron's prized Northern Natural Gas pipeline, worth an estimated $2.25 billion.", "path": "kean-s/deleted_items/478."}, "s947": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions- 11/14/01", "text": "USA: Enron traders seen riding out storm, cuts likely.\nReuters English News Service, 11/14/01\nUSA: Arbs tread lightly on Enron-Dynegy deal.\nReuters English News Service, 11/14/01\nUSA: UPDATE 1-Enron CEO Lay admits to errors with mea culpa.\nReuters English News Service, 11/14/01\nEnron Receives Dynegy $1.5B Cash Infusion Tues. >DYN ENE\nDow Jones News Service, 11/14/01\nUSA: Enron queried by EPA on oil pipeline spills.\nReuters English News Service, 11/14/01\nEnron to Sell Off Money-Losing Assets In Bid to Restore Its Financial Health\nDow Jones Business News, 11/14/01\nCohen, Milstein, Hausfeld & Toll, P.L.L.C. Announces that Class Action Suits Against Enron Corporation Have Expanded their Class Periods\nBusiness Wire, 11/14/01", "clipped": true, "phrase": "Enron Receives Dynegy $1.5B Cash Infusion Tues.", "path": "kitchen-l/_americas/sec_media/32."}, "s1069": {"from": "peggy.mahoney@enron.com", "to": "karen.denne@enron.com, j..kean@enron.com", "subject": "HELP!!!", "text": "while Dynegy shares changed hands at $43.29, down 31 cents, or 0.8%.\n\n  A ChevronTexaco Corp. (CVX) official wasn't immediately available to\ncomment on the matter.\n\n  ChevronTexaco, San Francisco, owns 26% of Dynegy and is providing $2.5\nbillion in cash to Dynegy as part of the buyout.  Last week, an inital\npayment of $1.5 billion was transferred to Dynegy and then to Enron to\nhelp meet Enron's immediate cash  needs.\n\n  Dynegy's merger agreement with Enron contains several provisions\nbeyond the standard \"material adverse change\" provision that would allow\nthe deal to be terminated. Still, some question whether Dynegy was able\nto fully assess Enron's liabilities prior to striking the deal.\n\n  Investors have expressed frustration with Enron's lack of disclosure,\nand even marvelled at the fact that the 10-Q included material that", "clipped": true, "phrase": "Last week, an inital\npayment of $1.5 billion was transferred to Dynegy and then to Enron to\nhelp meet Enron's immediate cash  needs.", "path": "kean-s/deleted_items/400."}, "s1059": {"from": "hemery@firstunion1.com", "to": "hemery.houston_fannin1_po.central_dom@firstunion1.com", "subject": "CREDIT SUISSE FIRST BOSTON-Enron Corp.10Q Info Consistent   WithPlusses For DYN In Deal", "text": "In assessing a 90% probability that the DYN/ENE deal will be completed, we note\nthat ENE is not a going concern without it, DYN demonstrably benefits by it\n(please see report dated Nov 9,'01) and Chevron/Texaco (CVX, 82.91) supports it.\nIn our view, positive comments by CVX yesterday, and the $1.5 billion cash\ninfusion to ENE from CVX on Nov 13, add to the support shown for the deal.\n\nWe continue to rate DYN Strong Buy because of its earnings and valuation upside\npotential in this deal. Our current eps est for DYN of $2.55 for '02 moves to\n$3.25 or higher with a completed deal. Our DYN target price of $54 is subject to\nupward revision as well. For ENE, our Strong Buy rating expects that the deal\nspread, currently about 30% will narrow as progress is made toward a closing.", "clipped": true, "phrase": "the $1.5 billion cash\ninfusion to ENE from CVX on Nov 13, add to the support shown for the deal.", "path": "kean-s/deleted_items/374."}, "s963": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "It is also clear that the bond rating agencies did not understand Enron's plight until the last couple of weeks. When they figured it out, it took a $1.5 billion equity infusion that is part of the Dynegy takeover to keep Enron's rating above junk level. \nNow Enron has a board committee investigating various transactions, and promises to release details as they are uncovered. Officials speak as if they are learning what happened for the first time, and perhaps they are. Jeffrey Skilling, Mr. Lay's protege, was Enron's chief financial engineer until he quit this summer. And Enron's chief financial officer and treasurer were ousted as Enron unraveled.", "clipped": true, "phrase": "it took a $1.5 billion equity infusion that is part of the Dynegy takeover to keep Enron's rating above junk level.", "path": "kitchen-l/_americas/sec_media/31."}, "s1024": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions- 11/19/01", "text": "To be sure, Enron is not in the best financial position. The company has a $1.75 billion loan coming due in April, a facility that will be nearly impossible to refinance at that date if any components of its complicated rescue package fall through in the meantime (this includes a $1.5 billion cash infusion by Dynegy, which last week agreed to buy Enron; another $500 million to $1 billion in private equity that Lay said was in negotiations last week; and the success of a planned $800 million sale of assets by year's end).", "clipped": true, "phrase": "this includes a $1.5 billion cash infusion by Dynegy, which last week agreed to buy Enron", "path": "kitchen-l/_americas/sec_media/26."}, "s1009": {"from": "chip.schneider@enron.com", "to": "louise.kitchen@enron.com, f..calger@enron.com, david.duran@enron.com,   \tl..barbour@enron.com, rick.bittner@enron.com,   \tkortney.brown@enron.com, andre.cangucu@enron.com,   \tbecky.caudle@enron.com, wendy.conwell@enron.com,   \tlacrecia.dave", "subject": "FW: CSFB Independent Power Weekly; IPPs Rose 5% Last Week;   7%Private Market Value Discount Remains", "text": "3. ENE/DYN + Attractive Valuations Boost Stock Prices   Last week was the\n3rd consecutive week of positive stock price performance for the group.\nDriving stock prices higher, investors continued to grow more comfortable\nwith the Enron situation following confirmation of Dynegy's intention to\nacquire Enron and provide immediate liquidity support by investing $1.5\nbillion.  Further, we believe the group simply remains oversold.  The pure\nplay power producers are trading at a 7% average discount to their private\nmarket asset values.  \n\n4. Notes From Mirant Meeting   Mirant hosted an upbeat analyst meeting last\nTuesday.  MIR reiterated that 80% of its 2002 forecast is supported by\nearnings from hedged (generation and natural gas) and franchise businesses", "clipped": true, "phrase": "acquire Enron and provide immediate liquidity support by investing $1.5", "path": "kitchen-l/_americas/east_power/4."}, "s1031": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions- 11/19/01", "text": "\"We are also hopeful that the combination of Dynegy and Enron will restore market and credit confidence in this important energy sector,\" O'Reilly continued. In October, the Securities and Exchange Commission began investigating Enron's relationship with two questionable partnerships once run by its former Chief Financial Officer Andrew Fastow. In November, Enron revealed that certain off-balance sheet entities should have been included in its financial statements, and the company would restate four years worth of filings The company's stock price plunged from a 52- week peak of", "clipped": true, "phrase": "We are also hopeful that the combination of Dynegy and Enron will restore market and credit confidence in this important energy sector", "path": "kitchen-l/_americas/sec_media/26."}, "s1025": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions- 11/19/01", "text": "The $1 billion loan is secured by Enron's Trans Western and Northern Natural Gas pipeline systems, the latter of which is also pledged to Dynegy for its $1.5 billion investment. \n\"From a risk standpoint, it's probably the best peace of Enron paper that Chase and Citi have - it's the only secured stuff out there,\" said one banker. But despite the impressive collateral, the $1 billion loan was priced attractively at 250 basis points over Libor, he said. \"I think it's a comment on how bad the news was. Enron's going to have to put up one of its major jewels for a $1 billion credit at Libor plus 250.\"", "clipped": true, "phrase": "The $1 billion loan is secured by Enron's Trans Western and Northern Natural Gas pipeline systems, the latter of which is also pledged to Dynegy for its $1.5 billion investment.", "path": "kitchen-l/_americas/sec_media/26."}, "s1255": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions- 11/26/01", "text": "At Enron's recent level, the stock is trading at a 64% discount to the Dynegy offer. \nNeither Sousa or Denne would comment on the stock movement. \nDynegy has already provided Enron with a $1.5 billion cash infusion that is secured by Enron's pipeline assets. While that investment has helped Enron's near-term liquidity position, it remains unclear how long the company can remain solvent without any added investments. \n-By Christina Cheddar, Dow Jones Newswires; 201-938-XXXX; christina.cheddar@dowjones.com\n\nCopyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved. \t\nEnron, Banks Formalize $690M Debt Extension To Dec. 14\nBy Carol S. Remond and Christina Cheddar\n\n11/26/2001\nDow Jones News Service", "clipped": true, "phrase": "Dynegy has already provided Enron with a $1.5 billion cash infusion that is secured by Enron's pipeline assets.", "path": "kean-s/deleted_items/504."}, "s1280": {"from": "carlos.sole@enron.com", "to": "kay.mann@enron.com", "subject": "RE: Look what I just found on iWon.com!", "text": "We could be toast -- see attached bloomberg.  also, another report stated that there were conflicts between Dynegy and bankers as to who has rights to the Northern Natural pipeline.\n \n11/27 15:16\nEnron Turned Down by Investors Alwaleed, Blackstone, Carlyle\nBy Mark Lake \n\nNew York, Nov. 27 (Bloomberg) -- Enron Corp.'s bankers, seeking to raise as much as $2 billion for the energy trader, have been turned down by investors including Prince Alwaleed Bin Talal, the Carlyle Group Inc. and Blackstone Group LP.", "clipped": true, "phrase": "another report stated that there were conflicts between Dynegy and bankers as to who has rights to the Northern Natural pipeline", "path": "mann-k/deleted_items/174."}, "s1290": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions- 11/27/01", "text": "Also on the table were negotiations to extend maturation of Enron's debt past the close of the merger, expected in the third quarter of 2002. The sources said an announcement was possible on a new infusion of at least $500 million in cash, which Enron has said it was seeking. \nThere also seemed to be an accord over who gets first crack at the Northern Natural Gas Pipeline, which would be Dynegy's consolation prize if the deal fell apart, a source said. Published reports have said that investment banks J.P. Morgan and Salomon Smith Barney had already accepted the pipeline as collateral in other loans, and may dispute Dynegy's ownership if the deal breaks up. \n\"The pipeline is far more valuable than what has already been collateralized. There's a solid earnings stream from that thing,\" said one source familiar with the discussions. \nONE TRADING UNIT SHUT DOWN", "clipped": true, "phrase": "There also seemed to be an accord over who gets first crack at the Northern Natural Gas Pipeline, which would be Dynegy's consolation prize if the deal fell apart", "path": "kean-s/deleted_items/505."}, "s1327": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "Dynegy said Wednesday that it will go through with its acquisition of Enron natural gas pipeline unit Northern Natural, Omaha, Neb., and said it has exercised its right to acquire the unit's common shares. \nChevronTexaco, which owns 26% of Dynegy, contributed $1.5 billion to the proposed Enron merger, and Dynegy used that money to acquire the pipeline unit. \nNorthern Natural, which owns and operates 16,500 miles of interstate natural gas pipeline spanning from the Permian Basin of Texas to the Great Lakes, has historically been a strong earnings contributor. \nDynegy said the unit will be a positive addition to Dynegy's own energy delivery network.", "clipped": true, "phrase": "Dynegy said Wednesday that it will go through with its acquisition of Enron natural gas pipeline unit Northern Natural, Omaha, Neb., and said it has exercised its right to acquire the unit's common shares.", "path": "kitchen-l/_americas/sec_media/13."}, "s1342": {"from": "peggy.mccurley@enron.com", "to": "louise.kitchen@enron.com", "subject": "An article from CBS.MarketWatch.com", "text": "d fellow Houston industrial giant, Bergstrom said.  \"Dynegy's customer-based, asset-backed energy delivery network has been the driver of our 45 percent compounded annual growth rate for the past 16 years and will continue to provide us with earnings sustainability and future growth.\" Watson said.  As part of the deal, Dynegy had the option to keep Northern Natural Gas, Enron's highly valued natural-gas pipeline, even if the agreement were terminated. The company said during the call that it would exercise that option.  ChevronTexaco (CVX ) , which owns a 27 percent stake in Dynegy, originally gave $1.5 billion to the company in the transaction. Dynegy used the money to purchase 100 percent of the preferred shares of Northern Natural Gas.  Enron has 180 days from the date the merger agreement was signed, Nov. 9, to repurchase the pipeline system, Watson said. Enron said in a statement that it", "clipped": true, "phrase": "As part of the deal, Dynegy had the option to keep Northern Natural Gas, Enron's highly valued natural-gas pipeline, even if the agreement were terminated.", "path": "kitchen-l/_americas/esvl/426."}, "s1355": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions- 11/28/01", "text": "as low as 20 cents on the dollar, down from 53 yesterday. At that\nprice the bonds yield 57 percent.\n\n                            Termination\n\n     Dynegy said it abandoned the takeover ``due to breaches by\nEnron of representations, warrants, and covenants.'' Chief\nExecutive Officer Chuck Watson said Dynegy invoked its right to\npurchase Enron's Northern Natural Gas pipeline. Dynegy received\nthe right to do so in exchange for an investment of $1.5 billion\nin Enron by ChevronTexaco Corp., which owns one quarter of Dynegy.\nThe unit operates 16,500 miles of natural gas pipeline.\n\n     ``Sometimes the best deals are the ones you do not do,'' said\nWatson, who two weeks earlier had sealed the acquisition over\ncoffee and muffins in the kitchen of Enron CEO Ken Lay's Houston", "clipped": true, "phrase": "Chief\nExecutive Officer Chuck Watson said Dynegy invoked its right to\npurchase Enron's Northern Natural Gas pipeline.", "path": "kitchen-l/_americas/sec_media/11."}, "s1329": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "ChevronTexaco, which owns 26% of Dynegy, contributed $1.5 billion to the proposed Enron merger, and Dynegy used that money to acquire the pipeline unit. \nNorthern Natural, which owns and operates 16,500 miles of interstate natural gas pipeline spanning from the Permian Basin of Texas to the Great Lakes, has historically been a strong earnings contributor. \nDynegy said the unit will be a positive addition to Dynegy's own energy delivery network.\n\nCopyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved. \t\n\nEnron's Fall To Spark Volatility On Pwr, Natural Gas Mkts\n\n11/28/2001\nDow Jones Energy Service\n(Copyright (c) 2001, Dow Jones & Company, Inc.)", "clipped": true, "phrase": "Northern Natural, which owns and operates 16,500 miles of interstate natural gas pipeline spanning from the Permian Basin of Texas to the Great Lakes, has historically been a strong earnings contributor.", "path": "kitchen-l/_americas/sec_media/13."}, "s1330": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "Northern Natural, which owns and operates 16,500 miles of interstate natural gas pipeline spanning from the Permian Basin of Texas to the Great Lakes, has historically been a strong earnings contributor. \nDynegy said the unit will be a positive addition to Dynegy's own energy delivery network.\n\nCopyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved. \t\n\nEnron's Fall To Spark Volatility On Pwr, Natural Gas Mkts\n\n11/28/2001\nDow Jones Energy Service\n(Copyright (c) 2001, Dow Jones & Company, Inc.)\n\nCALGARY -(Dow Jones)- The potential demise of energy marketing giant Enron Corp. spells a drop in liquidity and increased volatility in electricity and natural gas markets across North America, analysts said Wednesday.", "clipped": true, "phrase": "Dynegy said the unit will be a positive addition to Dynegy's own energy delivery network.", "path": "kitchen-l/_americas/sec_media/13."}, "s1333": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "In a press release Wednesday, Enron said it has temporarily suspended all payments other than those necessary to maintain core operations.\nEnron said it is reviewing Dynegy's actions earlier Wednesday, including an assertion that Dynegy is entitled to exercise an option to purchase Enron's interest in Northern Natural Gas Co. \n\nEarlier Wednesday afternoon, Dynegy terminated the merger agreement with Enron, citing Enron's breaches of representations, warranties, convenants and agreements, including the material adverse change provision in the merger agreement. Also, Enron's long-term debt was downgraded to below investment grade.", "clipped": true, "phrase": "Enron said it is reviewing Dynegy's actions earlier Wednesday, including an assertion that Dynegy is entitled to exercise an option to purchase Enron's interest in Northern Natural Gas Co.", "path": "kitchen-l/_americas/sec_media/13."}, "s1358": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions- 11/28/01", "text": "George W. Bush's campaign for presidency and said he had held\ndiscussions about a job in administration at one point.\n\n     Enron said in a statement it would halt all payments other\nthan those required to continue trading operations and would\nreview Dynegy's ``assertion'' that it is entitled to the  pipeline\nunit.\n\n                         Pipeline Company\n\n     From its start as natural gas pipeline company in the 1930s,\nEnron was transformed by then CEO Jeffrey Skilling into the\nlargest competitor in the business of trading energy, mainly\nnatural gas and electric power. Under Skilling, the company also\nsought to expand into Internet trading for products ranging from\nmetals to weather derivatives. Skilling resigned in August.", "clipped": true, "phrase": "review Dynegy's ``assertion'' that it is entitled to the  pipeline\nunit.", "path": "kitchen-l/_americas/sec_media/11."}, "s1343": {"from": "peggy.mccurley@enron.com", "to": "louise.kitchen@enron.com", "subject": "An article from CBS.MarketWatch.com", "text": "ated. The company said during the call that it would exercise that option.  ChevronTexaco (CVX ) , which owns a 27 percent stake in Dynegy, originally gave $1.5 billion to the company in the transaction. Dynegy used the money to purchase 100 percent of the preferred shares of Northern Natural Gas.  Enron has 180 days from the date the merger agreement was signed, Nov. 9, to repurchase the pipeline system, Watson said. Enron said in a statement that it was reviewing Dynegy's claim of rights to Northern.  Enron representatives did not participate in the call, and Dynegy executives said they had been advised against the customary practice of taking questions.  Enron said it has temporarily suspended payments \"other than those necessary to maintain\" its core energy businesses and added that it is exploring options to keep those operations alive. \"To do this, we w", "clipped": true, "phrase": "Enron has 180 days from the date the merger agreement was signed, Nov. 9, to repurchase the pipeline system, Watson said.", "path": "kitchen-l/_americas/esvl/426."}, "s1356": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions- 11/28/01", "text": "Termination\n\n     Dynegy said it abandoned the takeover ``due to breaches by\nEnron of representations, warrants, and covenants.'' Chief\nExecutive Officer Chuck Watson said Dynegy invoked its right to\npurchase Enron's Northern Natural Gas pipeline. Dynegy received\nthe right to do so in exchange for an investment of $1.5 billion\nin Enron by ChevronTexaco Corp., which owns one quarter of Dynegy.\nThe unit operates 16,500 miles of natural gas pipeline.\n\n     ``Sometimes the best deals are the ones you do not do,'' said\nWatson, who two weeks earlier had sealed the acquisition over\ncoffee and muffins in the kitchen of Enron CEO Ken Lay's Houston\nhome. ``We felt we had no choice but to act to protect our\nshareholders' interest,'' Watson said.\n\n     As the news of Dynegy's rejection flashed across computer", "clipped": true, "phrase": "Dynegy received\nthe right to do so in exchange for an investment of $1.5 billion\nin Enron by ChevronTexaco Corp., which owns one quarter of Dynegy.", "path": "kitchen-l/_americas/sec_media/11."}, "s1453": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "Meanwhile, the two companies are at odds over how to unravel the failed merger. In an interview, Mr. Bergstrom said Dynegy sued Enron because his company believes it has a legal right to take control of the Northern Natural Gas pipeline system without delay. In exchange for investing $1.5 billion in Enron with the help of co-investor ChevronTexaco Corp., San Francisco, Dynegy received an option, on Enron's biggest pipeline system, that was to serve as a kind of consolation prize if the deal fell through.", "clipped": true, "phrase": "In exchange for investing $1.5 billion in Enron with the help of co-investor ChevronTexaco Corp., San Francisco, Dynegy received an option, on Enron's biggest pipeline system", "path": "kitchen-l/_americas/sec_media/1."}, "s1366": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions- 11/29/01", "text": "with Chanin Capital Partners, which also has been approached for\nadvice by Enron bondholders.\n\n     ``There's a lot of juicy legal issues,'' said Belinsky.\nPotential targets include Enron's accounting firm and its officers\nand directors, he said.\n\n                             Liability\n\n     Dynegy might face some liability for canceling its purchase\nof Enron. Dynegy invoked terms of the buyout agreement that gave\nit the right to purchase an Enron natural gas pipeline if the\ntakeover fell apart. Dynegy received the right to the pipeline in\nexchange for a $1.5 billion investment in Enron by ChevronTexaco\nCorp., which owns one-fourth of Dynegy.\n\n     Enron might use bankruptcy to prevent Dynegy from walking\naway from the buyout and claiming ownership to the pipeline.\n\n     The Dynegy acquisition, valued at $23 billion when it was\nproposed on Nov. 9, collapsed as bankers failed to raise the $1.5", "clipped": true, "phrase": "Dynegy might face some liability for canceling its purchase\nof Enron. Dynegy invoked terms of the buyout agreement that gave\nit the right to purchase an Enron natural gas pipeline if the\ntakeover fell apart.", "path": "kitchen-l/_americas/sec_media/9."}, "s1403": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions- 11/30/01", "text": "or challenges Dynegy's decision to call off their merger.\n\n     The Nov. 9 merger agreement gave Dynegy $1.5 billion in\npreferred stock in Northern Natural Gas, as well as the right to\nbuy all of the common stock of the business for about $23 million.\nDynegy backed out of the $23 billion merger on Wednesday and said\nit would exercise its right to take over the 16,500-mile pipeline.\n\n     Enron has said it is reviewing options for Northern Natural\nGas, one of its most valuable assets. Enron may sue to keep Dynegy\nfrom claiming ownership of the pipeline, a person familiar with\nthe situation said yesterday. Dynegy Chairman Chuck Watson said\nyesterday he would rather take over the pipeline than get back the\n$1.5 billion investment.", "clipped": true, "phrase": "Dynegy backed out of the $23 billion merger on Wednesday and said", "path": "kitchen-l/_americas/sec_media/5."}, "s1369": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions- 11/29/01", "text": "it the right to purchase an Enron natural gas pipeline if the\ntakeover fell apart. Dynegy received the right to the pipeline in\nexchange for a $1.5 billion investment in Enron by ChevronTexaco\nCorp., which owns one-fourth of Dynegy.\n\n     Enron might use bankruptcy to prevent Dynegy from walking\naway from the buyout and claiming ownership to the pipeline.\n\n     The Dynegy acquisition, valued at $23 billion when it was\nproposed on Nov. 9, collapsed as bankers failed to raise the $1.5\nbillion Enron needed to operate until the deal was completed. The\nlack of funds and a credit downgrade contributed to Dynegy's\ndecision.\n\n     Bankers led by J.P. Morgan Chase & Co. Vice Chairman James B.\nLee tried for two weeks to raise the cash Enron needed. Investors", "clipped": true, "phrase": "Enron might use bankruptcy to prevent Dynegy from walking\naway from the buyout and claiming ownership to the pipeline.", "path": "kitchen-l/_americas/sec_media/9."}, "s1383": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions", "text": "once the biggest gas trader.\n\nDynegy CEO Says He'd Rather Have Enron Pipeline Than $1.5 Bln\n2001-11-29 14:56 (New York)\n\nDynegy CEO Says He'd Rather Have Enron Pipeline Than $1.5 Bln\n\n     Houston, Nov. 29, (Bloomberg) -- Dynegy Inc. Chairman Chuck\nWatson said he would rather take over an Enron pipeline than get\nback the $1.5 billion investment that entitles Dynegy to the line.\n\n     Watson said Dynegy expects to take over operation of the\n16,500-mile Northern Natural pipeline system by Dec. 19.\nChevronTexaco Corp., which owns 26 percent of Dynegy, gave Enron\n$1.5 billion to help the cash-strapped company stay in business.\n\n    The investment, part of Dynegy's plan to buy Enron, was backed\nby the Northern Natural system. Dynegy backed out of the merger", "clipped": true, "phrase": "Watson said he would rather take over an Enron pipeline than get", "path": "kitchen-l/_americas/sec_media/6."}, "s1384": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions", "text": "Houston, Nov. 29, (Bloomberg) -- Dynegy Inc. Chairman Chuck\nWatson said he would rather take over an Enron pipeline than get\nback the $1.5 billion investment that entitles Dynegy to the line.\n\n     Watson said Dynegy expects to take over operation of the\n16,500-mile Northern Natural pipeline system by Dec. 19.\nChevronTexaco Corp., which owns 26 percent of Dynegy, gave Enron\n$1.5 billion to help the cash-strapped company stay in business.\n\n    The investment, part of Dynegy's plan to buy Enron, was backed\nby the Northern Natural system. Dynegy backed out of the merger\nyesterday, and said it would exercise its right to take over the\nline.\n\n     Watson said he hopes that Northern Natural employees will", "clipped": true, "phrase": "16,500-mile Northern Natural pipeline system by Dec. 19.", "path": "kitchen-l/_americas/sec_media/6."}, "s1387": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions", "text": "$1.5 billion to help the cash-strapped company stay in business.\n\n    The investment, part of Dynegy's plan to buy Enron, was backed\nby the Northern Natural system. Dynegy backed out of the merger\nyesterday, and said it would exercise its right to take over the\nline.\n\n     Watson said he hopes that Northern Natural employees will\ncontinue to operate the pipeline after Dynegy takes ownership.\n\nItalian Banks Fall on Concern About Enron Exposure (Update2)\n2001-11-29 14:20 (New York)\n\nItalian Banks Fall on Concern About Enron Exposure (Update2)\n\n     (Closes shares in second paragraph; adds analyst comment from\neighth, estimates of exposure in 10th.)\n\n     Milan, Nov. 29 (Bloomberg) -- IntesaBci SpA and UniCredito", "clipped": true, "phrase": "Watson said he hopes that Northern Natural employees will", "path": "kitchen-l/_americas/sec_media/6."}, "s1394": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions- 11/30/01", "text": "company's metals-trading unit, the Times said. Enron is a major\nparticipant in European energy trading.\n\n(NYT 11-30 C6)\n\nFor the Web site of The New York Times, see {NYTI <GO>}.\n\nDynegy Is Under Pressure After Failed Enron Buyout, NYT Says\n2001-11-30 08:38 (New York)\n\n     Houston, Nov. 30 (Bloomberg) -- Dynegy Inc. is having trouble\nmaking a clean break from its buyout offer to energy trader Enron\nCorp., the New York Times reported.\n\n     Dynegy, whose bond rating is under pressure, may face a\nlawsuit from Enron and questions from investors about why it\ndidn't scrutinize Enron's books more closely, the Times said.\nDynegy's decision to back out of the $9 billion acquisition leaves\nEnron on the verge of bankruptcy.", "clipped": true, "phrase": "Houston, Nov. 30 (Bloomberg) -- Dynegy Inc. is having trouble", "path": "kitchen-l/_americas/sec_media/5."}, "s1392": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions- 11/30/01", "text": "Dow Jones Business News, 11/30/01\n\nNORWAY: INTERVIEW-\"Bitter days\" for Enron Nordic unit, wants buy-out.\nReuters English News Service, 11/30/01\n\nUSA: PPL to increase credit reserve for Enron exposure.\nReuters English News Service, 11/30/01\n\nUSA: UPDATE 1-Dynegy says Enron pipeline cannot file bankruptcy.\nReuters English News Service, 11/30/01\n\nUK: UPDATE 1-Enron says 1,875MW UK Teesside station operating.\nReuters English News Service, 11/30/01\n\nUK: UPDATE 1-Innogy may buy Enron UK assets at \"right price\".\nReuters English News Service, 11/30/01\n\nGERMANY: Enron Europe delays job cut meeting to 1500 GMT.\nReuters English News Service, 11/30/01\n\nFitch: Dynegy Remains On Rating Watch Negative\nBusiness Wire, 11/30/01", "clipped": true, "phrase": "USA: UPDATE 1-Dynegy says Enron pipeline cannot file bankruptcy.", "path": "kitchen-l/_americas/sec_media/5."}, "s1393": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions- 11/30/01", "text": "Dow Jones International News, 11/30/01\n\nPOINT OF VIEW: Stocks Put Enron In Proper Perspective\nDow Jones News Service, 11/30/01\n\nSEC's Pitt Promises Swift Probe Into Enron\nDow Jones News Service, 11/30/01\n\nIN THE MONEY: Enron's Derivatives Could Test Courts\nDow Jones News Service, 11/30/01\n\nDynegy Clarifies Its Investment in Enron's Northern Natural Gas Unit\nDow Jones Business News, 11/30/01\n\nNORWAY: INTERVIEW-\"Bitter days\" for Enron Nordic unit, wants buy-out.\nReuters English News Service, 11/30/01\n\nUSA: PPL to increase credit reserve for Enron exposure.\nReuters English News Service, 11/30/01\n\nUSA: UPDATE 1-Dynegy says Enron pipeline cannot file bankruptcy.\nReuters English News Service, 11/30/01\n\nUK: UPDATE 1-Enron says 1,875MW UK Teesside station operating.\nReuters English News Service, 11/30/01", "clipped": true, "phrase": "Dynegy Clarifies Its Investment in Enron's Northern Natural Gas Unit", "path": "kitchen-l/_americas/sec_media/5."}, "s1406": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions- 11/30/01", "text": "daily operations.\n\n     Enron is facing bankruptcy after credit rating agencies\nlowered the company to junk status, causing customers to take\nbusiness to other energy traders. Northern Natural Gas can't take\nany action, including filing for bankruptcy, without the consent\nof Dynegy as a preferred stockholder, Dynegy said in a statement.\n\n     Dynegy's right to the pipeline ``is not dependent on Enron's\nagreement to our right to terminate the merger,'' Dynegy Chief\nFinancial Officer Rob Doty said in the statement. Dynegy said\ntoday it plans to complete the pipeline purchase on Dec. 12.\n\n     Shares of Enron fell 25 cents to 36 cents yesterday. They\nhave fallen 99 percent since mid-October. Dynegy fell $2.32, or\n6.5 percent, to $33.65. Both companies are based in Houston.", "clipped": true, "phrase": "of Dynegy as a preferred stockholder, Dynegy said in a statement.", "path": "kitchen-l/_americas/sec_media/5."}, "s1413": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions- 11/30/01", "text": "ed and unsecured claims and Dynegy's claim. As part of the merger agreement with Enron, Dynegy injected $1.5 billion into Enron in exchange for preferred stock in Enron's largest pipeline, Northern Natural Gas, which can be converted into ownership of the pipeline. Dynegy has exercised this option. It is noted that as part of its investment in the preferred stock, Dynegy negotiated the right to block a bankruptcy filing at this subsidiary.", "clipped": true, "phrase": "It is noted that as part of its investment in the preferred stock, Dynegy negotiated the right to block a bankruptcy filing at this subsidiary.", "path": "kitchen-l/_americas/sec_media/4."}, "s1399": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions- 11/30/01", "text": "However, some worry that Enron's collapse has revealed previously\nundiscovered risks that energy trading companies may face, the\nTimes said.\n\n     Dynegy's efforts to buy a natural gas pipeline that is one of\nEnron's most valuable assets for $1.5 billion might not pan out\neither because Enron said it will fight to keep the pipeline out\nof Dynegy's hands, the Times reported.\n\n(NYT 11-30 C7)\n\nDynegy Says Pipeline Option Not Dependent on Enron (Update1)\n2001-11-30 09:00 (New York)\n\nDynegy Says Pipeline Option Not Dependent on Enron (Update1)\n\n     (Adds chairman's comments in third and fourth paragraphs.)\n\n     Houston, Nov. 30 (Bloomberg) -- Dynegy Inc. said it plans to\ntake over Enron Corp.'s Northern Natural Gas Co. pipeline unit", "clipped": true, "phrase": "either because Enron said it will fight to keep the pipeline out", "path": "kitchen-l/_americas/sec_media/5."}, "s1404": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions- 11/30/01", "text": "buy all of the common stock of the business for about $23 million.\nDynegy backed out of the $23 billion merger on Wednesday and said\nit would exercise its right to take over the 16,500-mile pipeline.\n\n     Enron has said it is reviewing options for Northern Natural\nGas, one of its most valuable assets. Enron may sue to keep Dynegy\nfrom claiming ownership of the pipeline, a person familiar with\nthe situation said yesterday. Dynegy Chairman Chuck Watson said\nyesterday he would rather take over the pipeline than get back the\n$1.5 billion investment.\n\n     Enron can buy the pipeline back if it pays Dynegy\n$1.5 billion, plus interest, within 180 days of the merger's\ncollapse, Watson said. Enron has been unable to raise enough cash", "clipped": true, "phrase": "Gas, one of its most valuable assets. Enron may sue to keep Dynegy", "path": "kitchen-l/_americas/sec_media/5."}, "s1400": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions- 11/30/01", "text": "(Adds chairman's comments in third and fourth paragraphs.)\n\n     Houston, Nov. 30 (Bloomberg) -- Dynegy Inc. said it plans to\ntake over Enron Corp.'s Northern Natural Gas Co. pipeline unit\nnext month, even if Enron seeks Chapter 11 bankruptcy protection\nor challenges Dynegy's decision to call off their merger.\n\n     The Nov. 9 merger agreement gave Dynegy $1.5 billion in\npreferred stock in Northern Natural Gas, as well as the right to\nbuy all of the common stock of the business for about $23 million.\nDynegy backed out of the $23 billion merger on Wednesday and said\nit would exercise its right to take over the 16,500-mile pipeline.\n\n     Enron has said it is reviewing options for Northern Natural", "clipped": true, "phrase": "or challenges Dynegy's decision to call off their merger.", "path": "kitchen-l/_americas/sec_media/5."}, "s1419": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions- 11/30/01", "text": "producer. A judge in Delaware ordered Tyson to complete its buyout\nof IBP after their proposed combination collapse. Tyson, like\nDynegy, had said it wasn't fully informed about IBP's financial\nproblems when it negotiated to acquire the beef producer.\n\n     Dynegy said today it plans to take over Enron's Northern\nNatural Gas Co. pipeline unit next month. Dynegy said it's\nentitled to the pipeline under the terms of its Nov. 9 merger\nagreement that gave it $1.5 billion in preferred stock in Northern\nNatural Gas.\n\n     Enron could sue as part of the bankruptcy case to stop Dynegy\nfrom walking away from the buyout and claiming ownership to the\npipeline.\n\n                           Complications\n\n     Any Chapter 11 cases would be ``inordinately complicated,''\nsaid Lynn LoPucki, a law professor at the University of California\nat Los Angeles.", "clipped": true, "phrase": "Dynegy said today it plans to take over Enron's Northern\nNatural Gas Co. pipeline unit next month. Dynegy said it's\nentitled to the pipeline under the terms of its Nov. 9 merger\nagreement", "path": "kitchen-l/_americas/sec_media/3."}, "s1401": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions- 11/30/01", "text": "Houston, Nov. 30 (Bloomberg) -- Dynegy Inc. said it plans to\ntake over Enron Corp.'s Northern Natural Gas Co. pipeline unit\nnext month, even if Enron seeks Chapter 11 bankruptcy protection\nor challenges Dynegy's decision to call off their merger.\n\n     The Nov. 9 merger agreement gave Dynegy $1.5 billion in\npreferred stock in Northern Natural Gas, as well as the right to\nbuy all of the common stock of the business for about $23 million.\nDynegy backed out of the $23 billion merger on Wednesday and said\nit would exercise its right to take over the 16,500-mile pipeline.\n\n     Enron has said it is reviewing options for Northern Natural\nGas, one of its most valuable assets. Enron may sue to keep Dynegy", "clipped": true, "phrase": "The Nov. 9 merger agreement gave Dynegy $1.5 billion in", "path": "kitchen-l/_americas/sec_media/5."}, "s1402": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions- 11/30/01", "text": "next month, even if Enron seeks Chapter 11 bankruptcy protection\nor challenges Dynegy's decision to call off their merger.\n\n     The Nov. 9 merger agreement gave Dynegy $1.5 billion in\npreferred stock in Northern Natural Gas, as well as the right to\nbuy all of the common stock of the business for about $23 million.\nDynegy backed out of the $23 billion merger on Wednesday and said\nit would exercise its right to take over the 16,500-mile pipeline.\n\n     Enron has said it is reviewing options for Northern Natural\nGas, one of its most valuable assets. Enron may sue to keep Dynegy\nfrom claiming ownership of the pipeline, a person familiar with\nthe situation said yesterday. Dynegy Chairman Chuck Watson said", "clipped": true, "phrase": "buy all of the common stock of the business for about $23 million.", "path": "kitchen-l/_americas/sec_media/5."}, "s1412": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions- 11/30/01", "text": "rong recovery prospects for secured creditors at Northern Natural and Transwestern. Fitch estimates there would be roughly $1 billion of residual value from the pipelines following the satisfaction of their secured and unsecured claims and Dynegy's claim. As part of the merger agreement with Enron, Dynegy injected $1.5 billion into Enron in exchange for preferred stock in Enron's largest pipeline, Northern Natural Gas, which can be converted into ownership of the pipeline. Dynegy has exercised this option. It is noted that as part of its investment in the preferred stock, Dynegy negotiated the right to block a bankruptcy filing at this subsidiary.", "clipped": true, "phrase": "Dynegy injected $1.5 billion into Enron in exchange for preferred stock in Enron's largest pipeline, Northern Natural Gas, which can be converted into ownership of the pipeline", "path": "kitchen-l/_americas/sec_media/4."}, "s1405": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions- 11/30/01", "text": "from claiming ownership of the pipeline, a person familiar with\nthe situation said yesterday. Dynegy Chairman Chuck Watson said\nyesterday he would rather take over the pipeline than get back the\n$1.5 billion investment.\n\n     Enron can buy the pipeline back if it pays Dynegy\n$1.5 billion, plus interest, within 180 days of the merger's\ncollapse, Watson said. Enron has been unable to raise enough cash\nto ensure it can pay its debts and is having trouble financing\ndaily operations.\n\n     Enron is facing bankruptcy after credit rating agencies\nlowered the company to junk status, causing customers to take\nbusiness to other energy traders. Northern Natural Gas can't take\nany action, including filing for bankruptcy, without the consent", "clipped": true, "phrase": "$1.5 billion, plus interest, within 180 days of the merger's", "path": "kitchen-l/_americas/sec_media/5."}, "s1407": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions- 11/30/01", "text": "lowered the company to junk status, causing customers to take\nbusiness to other energy traders. Northern Natural Gas can't take\nany action, including filing for bankruptcy, without the consent\nof Dynegy as a preferred stockholder, Dynegy said in a statement.\n\n     Dynegy's right to the pipeline ``is not dependent on Enron's\nagreement to our right to terminate the merger,'' Dynegy Chief\nFinancial Officer Rob Doty said in the statement. Dynegy said\ntoday it plans to complete the pipeline purchase on Dec. 12.\n\n     Shares of Enron fell 25 cents to 36 cents yesterday. They\nhave fallen 99 percent since mid-October. Dynegy fell $2.32, or\n6.5 percent, to $33.65. Both companies are based in Houston.\n\nEnron May Cost Insurers Over $3 Billion, Analysts Say (Update1)", "clipped": true, "phrase": "Dynegy's right to the pipeline ``is not dependent on Enron's", "path": "kitchen-l/_americas/sec_media/5."}, "s1425": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions- 11/30/01", "text": "Bloomberg, 11/30/01\n\nArthur Andersen's Enron Audit Is Under Review by SEC (Update1)\nBloomberg, 11/30/01\n\nEnron Fires U.K. Workers, Plans Bankruptcy Soon (Update1)\nBloomberg, 11/30/01\n\nEnron Creditors List Potential Losses From Energy Trader's Fall\nBloomberg, 11/30/01\n\nDynegy Says Pipeline Option Not Dependent on Enron (Update8)\nBloomberg, 11/30/01\n\nEnron Bankruptcy Case Would Take Years to Resolve (Update2)\nBloomberg, 11/30/01\n\nChairman Says Dynegy's Right to Enron Pipeline Indisputable\nBloomberg, 11/30/01\n\nWilliams Has Withdrawn Pipeline Capacity From Enron (Update1)\nBloomberg, 11/30/01\n\nNew Jersey Has Limited Exposure to Enron Decline, Treasury Says\nBloomberg, 11/30/01\n\nWall Street Firms, Pension Funds Face Enron Losses (Update6)\nBloomberg, 11/30/01", "clipped": true, "phrase": "Dynegy Says Pipeline Option Not Dependent on Enron (Update8)", "path": "kitchen-l/_americas/sec_media/3."}, "s1426": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions- 11/30/01", "text": "Bloomberg, 11/30/01\n\nEnron Creditors List Potential Losses From Energy Trader's Fall\nBloomberg, 11/30/01\n\nDynegy Says Pipeline Option Not Dependent on Enron (Update8)\nBloomberg, 11/30/01\n\nEnron Bankruptcy Case Would Take Years to Resolve (Update2)\nBloomberg, 11/30/01\n\nChairman Says Dynegy's Right to Enron Pipeline Indisputable\nBloomberg, 11/30/01\n\nWilliams Has Withdrawn Pipeline Capacity From Enron (Update1)\nBloomberg, 11/30/01\n\nNew Jersey Has Limited Exposure to Enron Decline, Treasury Says\nBloomberg, 11/30/01\n\nWall Street Firms, Pension Funds Face Enron Losses (Update6)\nBloomberg, 11/30/01\n\nS&P Says Credit Derivative Exposure to Enron Totals $6.3 Bln\nBloomberg, 11/30/01\n\nEnron's Fall to Spark Legal Wrangles Over Derivatives (Update1)\nBloomberg, 11/30/01", "clipped": true, "phrase": "Chairman Says Dynegy's Right to Enron Pipeline Indisputable", "path": "kitchen-l/_americas/sec_media/3."}, "s1409": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions- 11/30/01", "text": "of Dynegy as a preferred stockholder, Dynegy said in a statement.\n\n     Dynegy's right to the pipeline ``is not dependent on Enron's\nagreement to our right to terminate the merger,'' Dynegy Chief\nFinancial Officer Rob Doty said in the statement. Dynegy said\ntoday it plans to complete the pipeline purchase on Dec. 12.\n\n     Shares of Enron fell 25 cents to 36 cents yesterday. They\nhave fallen 99 percent since mid-October. Dynegy fell $2.32, or\n6.5 percent, to $33.65. Both companies are based in Houston.\n\nEnron May Cost Insurers Over $3 Billion, Analysts Say (Update1)\n2001-11-30 09:33 (New York)\n\nEnron May Cost Insurers Over $3 Billion, Analysts Say (Update1)\n\n     (Adds analyst comment on U.S. life insurers' exposure.)", "clipped": true, "phrase": "today it plans to complete the pipeline purchase on Dec. 12.", "path": "kitchen-l/_americas/sec_media/5."}, "s1414": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions- 11/30/01", "text": "ry prospects for various creditor classes. Enron's pipeline business has historically been a steady source of cash flow generation. A market comparable method of valuation for the transportation segment results in strong recovery prospects for secured creditors at Northern Natural and Transwestern. Fitch estimates there would be roughly $1 billion of residual value from the pipelines following the satisfaction of their secured and unsecured claims and Dynegy's claim. As part of the merger agreement with Enron, Dynegy injected $1.5 billion into Enron in exchange for preferred stock in Enron's largest pipeline, Northern Natural Gas, which can be converted into ownership of the pipeline. Dynegy has exercised this option. It is noted that as part of its investment in the preferred stock, Dynegy negotiated the right to block a bankruptcy filing at this subsidiary.", "clipped": true, "phrase": "Fitch estimates there would be roughly $1 billion of residual value from the pipelines following the satisfaction of their secured and unsecured claims and Dynegy's claim.", "path": "kitchen-l/_americas/sec_media/4."}, "s1441": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "Now, however, that's a matter for the courts to decide. \n\"This is a kind of lawyers' paradise,\" said Tom Burnett, president of Merger Insight, an affiliate of Wall Street Access. \"The risk to Dynegy is that that contract won't hold up to buy the Northern Natural Gas assets. A bankruptcy judge may decide to hold an auction.\" \nIn that event, Dynegy would be left with an equity stake in Enron. \nSensing that the companies are in for long legal battle and that Dynegy may not wind up with the pipeline assets, some investors unloaded their Dynegy shares, sending the stock price sliding more than 8% Monday to a low of $26.26.\n\nCopyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved.", "clipped": true, "phrase": "The risk to Dynegy is that that contract won't hold up to buy the Northern Natural Gas assets. A bankruptcy judge may decide to hold an auction.", "path": "kitchen-l/_americas/sec_media/2."}, "s1460": {"from": "steve.hotte@enron.com", "to": "greg.piper@enron.com, sally.beck@enron.com, jenny.rub@enron.com", "subject": "FW: Revised Settlement Documents", "text": "Bienenstock/NY/WGM/US@WGM, rtufaro@milbank.com\nSubject:  Revised Settlement Documents\n\nWhile we are sure clean-up is needed (such as converting the defined term\n\"Mutual Release\" to a new defined term (\"MCTJ Settlement Agreement\")\nthroughout the documents and, we suggest, defining Dynegy Inc. and Dynegy\nHoldings as \"Dynegy\" for simplification purposes), the attached are\ndesigned to address your major concerns, including that CGNN not be a party\nin the Adversary Proceeding, with protections designed to prevent Dynegy\nfrom using that change to attempt to preclude Enron from suing for damages\nfor wrongful exercise under the Option Agreement -- which we understand to\nbe part of the agreement reached last week.  We look forward to your\ncomments.  Merry Christmas.", "clipped": true, "phrase": "we suggest, defining Dynegy Inc. and Dynegy\nHoldings as \"Dynegy\" for simplification purposes", "path": "beck-s/inbox/227."}, "s1461": {"from": "steve.hotte@enron.com", "to": "greg.piper@enron.com, sally.beck@enron.com, jenny.rub@enron.com", "subject": "FW: Revised Settlement Documents", "text": "throughout the documents and, we suggest, defining Dynegy Inc. and Dynegy\nHoldings as \"Dynegy\" for simplification purposes), the attached are\ndesigned to address your major concerns, including that CGNN not be a party\nin the Adversary Proceeding, with protections designed to prevent Dynegy\nfrom using that change to attempt to preclude Enron from suing for damages\nfor wrongful exercise under the Option Agreement -- which we understand to\nbe part of the agreement reached last week.  We look forward to your\ncomments.  Merry Christmas.\n\n(Settlement Agreement f/k/a Mutual release) (See attached file:\nn38102!.DOC)\n(Settlement Agreement f/k/a Mutual release) (See attached file:\nn381RED.DOC)\n(Agreed judgment) (See attached file: n38405!.DOC)\n(Agreed judgment) (See attached file: n384RED.DOC)\n(Agreement) (See attached file: n38304!.DOC)", "clipped": true, "phrase": "with protections designed to prevent Dynegy\nfrom using that change to attempt to preclude Enron from suing for damages\nfor wrongful exercise under the Option Agreement", "path": "beck-s/inbox/227."}, "s1462": {"from": "jenny.rub@enron.com", "to": "steve.hotte@enron.com, greg.piper@enron.com, sally.beck@enron.com", "subject": "RE: Revised Settlement Documents", "text": "To: Hayslett, Rod \nSubject: FW: Revised Settlement Documents \n\nHere they are.  DF \n\n-----Original Message----- \nFrom: richard.levine@weil.com [<mailto:richard.levine@weil.com>] \nSent: Wednesday, December 26, 2001 7:24 AM \nTo: Fossum, Drew \nSubject: Revised Settlement Documents \n\nAttached are the revised settlement documents we sent to BakerBotts on \nChristmas Eve.  We, of course, have not yet heard back.  Was Rod Hayslett's \nconcern just going to the Closing Date concern you raised (which we will \ntry to address, perhaps by requiring \"X\" days notice of a scheduled \nclosing)? \n\n---------------------- Forwarded by Richard Levine/NY/WGM/US on 12/26/2001 \n08:18 AM --------------------------- \n\nRichard Levine \n12/24/2001 07:48 PM \n\nTo:   rebecca.robertson@bakerbotts.com, srosenfeld@paulweiss.com", "clipped": true, "phrase": "Attached are the revised settlement documents we sent to BakerBotts on \nChristmas Eve.  We, of course, have not yet heard back.", "path": "beck-s/inbox/226."}, "s1469": {"from": "chairman.enron@enron.com", "to": "dl-ga-all_enron_worldwide4@enron.com", "subject": "Northern Natural Gas", "text": "Yesterday, Enron settled a procedural dispute with Dynegy over Northern Natural Gas.  Our settlement allows Dynegy to exercise its option to acquire the pipeline, dismisses their Texas lawsuit and extends Enron's right to repurchase until June 30.  We reached this settlement as part of our efforts to bring Enron out of bankruptcy.  While we would like to keep Northern Natural, we still have some 9,000 miles of safe, profitable interstate pipelines as a base to rebuild our core businesses.", "clipped": true, "phrase": "Yesterday, Enron settled a procedural dispute with Dynegy over Northern Natural Gas.  Our settlement allows Dynegy to exercise its option to acquire the pipeline, dismisses their Texas lawsuit and extends Enron's right to repurchase until June 30.", "path": "beck-s/inbox/180."}, "s1470": {"from": "chairman.enron@enron.com", "to": "dl-ga-all_enron_worldwide4@enron.com", "subject": "Northern Natural Gas", "text": "Yesterday, Enron settled a procedural dispute with Dynegy over Northern Natural Gas.  Our settlement allows Dynegy to exercise its option to acquire the pipeline, dismisses their Texas lawsuit and extends Enron's right to repurchase until June 30.  We reached this settlement as part of our efforts to bring Enron out of bankruptcy.  While we would like to keep Northern Natural, we still have some 9,000 miles of safe, profitable interstate pipelines as a base to rebuild our core businesses.", "clipped": true, "phrase": "extends Enron's right to repurchase until June 30", "path": "beck-s/inbox/180."}, "s1472": {"from": "chairman.enron@enron.com", "to": "dl-ga-all_enron_worldwide4@enron.com", "subject": "Northern Natural Gas", "text": "In this respect, Enron Corp. has carefully weighed the substantial costs and turmoil that litigating this possession issue would create for the company and the employees of Northern Natural Gas.  Consequently, Enron Corp. has decided not to contest interim possession and allow the transfer of Northern Natural Gas to Dynegy, while the larger issues affecting its future are resolved.\n\nThe company has concluded that with this settlement, Enron should be able to resolve the issue more quickly, as well as avoid the legal cost burden and distractions to the business from protracted litigation in state court.  For the Northern Natural Gas employees, I believe this decision should allow them to steer clear of the dispute and focus on the day-to-day satisfaction of running a valuable, successful business.", "clipped": true, "phrase": "Enron Corp. has decided not to contest interim possession and allow the transfer of Northern Natural Gas to Dynegy, while the larger issues affecting its future are resolved.", "path": "beck-s/inbox/180."}, "s1471": {"from": "chairman.enron@enron.com", "to": "dl-ga-all_enron_worldwide4@enron.com", "subject": "Northern Natural Gas", "text": "The settlement provides the best opportunity to resolve the pipeline issue quickly and pursue our $10 billion damage claim against Dynegy.  It also allows us to avoid the very substantial costs and distractions from protracted litigation in state courts.  \n\nWe want to see a positive future for the employees working with Northern Natural Gas.  Below is a copy of a message from Stan Horton further explaining this decision to the employees of Enron Transportation Services.\n\nKen\n\nDear ETS Colleague:", "clipped": true, "phrase": "The settlement provides the best opportunity to resolve the pipeline issue quickly and pursue our $10 billion damage claim against Dynegy.", "path": "beck-s/inbox/180."}, "s1474": {"from": "steve.hotte@enron.com", "to": "andrew.parsons@enron.com, bradley.holmes@enron.com, colleen.raker@enron.com,   \trick.dietz@enron.com, amy.krone@enron.com, mark.thibodeaux@enron.com,   \tscott.abshire@enron.com, mark.gigliotti@enron.com,   \tmartha.janousek@enron.com, tony.m", "subject": "NNG Transition Meeting.", "text": "On Friday January 11, 2002 from 8:30 a.m. till 1:00 p.m. we will be meeting in room 49C4 of the 1400 Smith Street Enron Building.\n\nThis is the first of several meetings between the Dynegy and Enron Information Technology (IT) departments.\n\nThe purpose of the January 11th meeting is to discuss the IT services to be provided by Enron and its affiliates to Dynegy/NNG under the transition agreement.  The term of the transition agreement is from February 2002 through June 2002.\n\nThis meeting will give us the necessary details to begin activities beginning the first of February, subsequent meetings will prepare us for June activities.", "clipped": true, "phrase": "This is the first of several meetings between the Dynegy and Enron Information Technology (IT) departments.", "path": "beck-s/inbox/132."}, "s1475": {"from": "steve.hotte@enron.com", "to": "andrew.parsons@enron.com, bradley.holmes@enron.com, colleen.raker@enron.com,   \trick.dietz@enron.com, amy.krone@enron.com, mark.thibodeaux@enron.com,   \tscott.abshire@enron.com, mark.gigliotti@enron.com,   \tmartha.janousek@enron.com, tony.m", "subject": "NNG Transition Meeting.", "text": "This is the first of several meetings between the Dynegy and Enron Information Technology (IT) departments.\n\nThe purpose of the January 11th meeting is to discuss the IT services to be provided by Enron and its affiliates to Dynegy/NNG under the transition agreement.  The term of the transition agreement is from February 2002 through June 2002.\n\nThis meeting will give us the necessary details to begin activities beginning the first of February, subsequent meetings will prepare us for June activities. \n\nA document has been prepared incorporating the following information for discussion:\n\nETS Pipeline Map\nETS Business Process Flow\nETS Core Application Environment\nETS Systems Diagrams\nETS Server Summary\nETS Business Continuity Plan Summary\nArdmore Data Center Layout", "clipped": true, "phrase": "The term of the transition agreement is from February 2002 through June 2002.", "path": "beck-s/inbox/132."}, "s1476": {"from": "steve.hotte@enron.com", "to": "andrew.parsons@enron.com, bradley.holmes@enron.com, colleen.raker@enron.com,   \trick.dietz@enron.com, amy.krone@enron.com, mark.thibodeaux@enron.com,   \tscott.abshire@enron.com, mark.gigliotti@enron.com,   \tmartha.janousek@enron.com, tony.m", "subject": "NNG Transition Meeting.", "text": "Appendix\n\tETS Reliability Monthly Report (template)\n\tETS Application Volumes\n\tApplication Inventory\n\tETS Server Inventory\n\tETS Server Inventory\n\tSoftware List\n\nOther items for this discussion will include:\nsoftware licensing\ninterfaces (i.e. from NNG to Dynegy for financial consolidation)\nsecurity and system access, especially as related to those Enron employees who will become Dynegy employees on February 1, 2002\n\nWhen our Dynegy guests arrive please ask the security desk to call Lillian Villarreal (713) 853-XXXX, to escort you to the meeting room.\n\nThank you.", "clipped": true, "phrase": "security and system access, especially as related to those Enron employees who will become Dynegy employees on February 1, 2002", "path": "beck-s/inbox/132."}, "s707": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "Under the terms being worked out last night, Enron Chairman Kenneth Lay would have a seat on the combined company's board, but wouldn't hold any formal management position, said the people familiar with the matter. Mr. Lay may take on a consulting role. Meanwhile, Chuck Watson, chairman and chief executive of Dynegy, would be CEO of the combined company, while his No. 2, Stephen Bergstrom, will president.", "clipped": true, "phrase": "Chuck Watson, chairman and chief executive of Dynegy, would be CEO of the combined company, while his No. 2, Stephen Bergstrom, will president.", "path": "kitchen-l/_americas/sec_media/44."}, "s787": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions - 11/09/01-11/10/01", "text": "Mr. Watson said the company did not expect to sell significant properties and that the deal should pass regulatory scrutiny. ''There's really not a lot of overlap in assets,'' he said. \nMr. Watson and Steve Bergstrom, Dynegy's president, will hold those positions in the new company, which will be called Dynegy and remain in Houston. Mr. Lay, who created Enron in the mid-1980's, will not have any role in the combined company's daily operations. He has been asked to join its board but has not provided an answer. ''The last three weeks haven't been a lot of fun,'' he said.", "clipped": true, "phrase": "Mr. Watson and Steve Bergstrom, Dynegy's president, will hold those positions in the new company, which will be called Dynegy and remain in Houston.", "path": "kitchen-l/_americas/sec_media/40."}, "s867": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "In calls and meetings with analysts yesterday, Dynegy Chairman Chuck Watson and Enron Chairman Kenneth Lay continued talking up the deal that was announced late Friday. \"We are confident this is good strategically and financially for Dynegy and Enron,\" said Mr. Watson, who will serve as chairman and chief executive of the combined entity, to be called Dynegy Inc.\nWhile the proposed combination faces months of review by government agencies and gives Dynegy possible opportunities to cancel the deal, investors' initial reaction to the merger announcement was positive. As of 4 p.m. in New York Stock Exchange composite trading, Dynegy shares were at $44.31, up $5.55, or 14%. Also on the Big Board, Enron was at $9.24, up 7.1%, or 61 cents. Both companies were among the most actively traded issues.", "clipped": true, "phrase": "said Mr. Watson, who will serve as chairman and chief executive of the combined entity, to be called Dynegy Inc.", "path": "kitchen-l/_americas/sec_media/36."}, "s763": {"from": "chairman.ken@enron.com", "to": "dl-ga-all_enron_worldwide5@enron.com", "subject": "Enron Announces Plans to Merge with Dynegy", "text": "e elimination of positions is almost inevitable, and one of our key tasks will be to identify the optimal structure of the new company.  We hope to be able to address any need for work force reductions through attrition and hiring reductions.  Clearly, we cannot rule out involuntary separation, but Dynegy is motivated to identify and retain the best talent from both organizations.  I promise you that I will do everything I can to make this transition as smooth as possible.\n\nAs I said in my video, this is a day like no other in our company's history.  We considered several options, but we believe that this merger with Dynegy is the best option to help rebuild investor and market confidence, strengthen our balance sheet and preserve our core businesses.", "clipped": true, "phrase": "Dynegy is motivated to identify and retain the best talent from both organizations.", "path": "jones-t/inbox/944."}, "s765": {"from": "chairman.ken@enron.com", "to": "dl-ga-all_enron_worldwide5@enron.com", "subject": "Enron Announces Plans to Merge with Dynegy", "text": "Management from Enron and Dynegy will work together to ensure a smooth, efficient integration.  The make-up of the integration team has not yet been determined.", "clipped": true, "phrase": "Management from Enron and Dynegy will work together to ensure a smooth, efficient integration.  The make-up of the integration team has not yet been determined.", "path": "jones-t/inbox/944."}, "s771": {"from": "karen.denne@enron.com", "to": "kenneth.lay@enron.com, mark.frevert@enron.com, jeffrey.mcmahon@enron.com,   \trick.buy@enron.com, richard.causey@enron.com,   \tjames.derrick@enron.com, j..kean@enron.com, mark.koenig@enron.com,   \twes.colwell@enron.com, paula.rieker@enron.co", "subject": "Merger News Articles", "text": "In a statement announcing the agreement yesterday afternoon, Mr. Watson said he was confident that the merger would produce a strong new company. ''Enron is the ideal strategic partner for Dynegy,'' Mr. Watson said. ''We will keep a strong balance sheet and straightforward financial structure as key priorities.'' \n\nTo shore up Enron's finances, Dynegy will immediately put $1.5 billion into Enron through ChevronTexaco, the giant oil company, which already owns 27 percent of Dynegy. Another billion dollars will be injected once the deal is completed.", "clipped": true, "phrase": "''Enron is the ideal strategic partner for Dynegy,'' Mr. Watson said.", "path": "kitchen-l/_americas/sec/19."}, "s789": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions - 11/09/01-11/10/01", "text": "In a statement announcing the agreement yesterday afternoon, Mr. Watson said he was confident that the merger would produce a strong new company. ''Enron is the ideal strategic partner for Dynegy,'' Mr. Watson said. ''We will keep a strong balance sheet and straightforward financial structure as key priorities.'' \nTo shore up Enron's finances, Dynegy will immediately put $1.5 billion into Enron through ChevronTexaco, the giant oil company, which already owns 27 percent of Dynegy. Another billion dollars will be injected once the deal is completed.", "clipped": true, "phrase": "''Enron is the ideal strategic partner for Dynegy,'' Mr. Watson said. ''We will keep a strong balance sheet and straightforward financial structure as key priorities.''", "path": "kitchen-l/_americas/sec_media/40."}, "s773": {"from": "karen.denne@enron.com", "to": "kenneth.lay@enron.com, mark.frevert@enron.com, jeffrey.mcmahon@enron.com,   \trick.buy@enron.com, richard.causey@enron.com,   \tjames.derrick@enron.com, j..kean@enron.com, mark.koenig@enron.com,   \twes.colwell@enron.com, paula.rieker@enron.co", "subject": "Merger News Articles", "text": "As it works to have the deal approved, Dynegy will have to persuade Enron's traders to stay with the combined company. The pain of the stock's 90 percent plunge this year will not be equally shared. Some Enron employees have held onto their shares and seen their retirement accounts eviscerated. Meanwhile, Mr. Lay, Mr. Skilling and other former and current executives sold hundreds of millions of dollars in Enron stock in 2000 and this year.", "clipped": true, "phrase": "Dynegy will have to persuade Enron's traders to stay with the combined company.", "path": "kitchen-l/_americas/sec/19."}, "s792": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions - 11/09/01-11/10/01", "text": "''On paper, it works,'' Ms. Coale of Prudential said. ''The combined company would be the leading trader, the market leader in most of their businesses.'' Ms. Coale, who has a sell rating on Enron and a buy rating on Dynegy, said she planned to keep her buy rating on Dynegy. \nAs it works to have the deal approved, Dynegy will have to persuade Enron's traders to stay with the combined company. The pain of the stock's 90 percent plunge this year will not be equally shared. Some Enron employees have held onto their shares and seen their retirement accounts eviscerated. Meanwhile, Mr. Lay, Mr. Skilling and other former and current executives sold hundreds of millions of dollars in Enron stock in 2000 and this year.", "clipped": true, "phrase": "As it works to have the deal approved, Dynegy will have to persuade Enron's traders to stay with the combined company.", "path": "kitchen-l/_americas/sec_media/40."}, "s788": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions - 11/09/01-11/10/01", "text": "Mr. Watson and Steve Bergstrom, Dynegy's president, will hold those positions in the new company, which will be called Dynegy and remain in Houston. Mr. Lay, who created Enron in the mid-1980's, will not have any role in the combined company's daily operations. He has been asked to join its board but has not provided an answer. ''The last three weeks haven't been a lot of fun,'' he said. \nIn a statement announcing the agreement yesterday afternoon, Mr. Watson said he was confident that the merger would produce a strong new company. ''Enron is the ideal strategic partner for Dynegy,'' Mr. Watson said. ''We will keep a strong balance sheet and straightforward financial structure as key priorities.''", "clipped": true, "phrase": "Mr. Lay, who created Enron in the mid-1980's, will not have any role in the combined company's daily operations. He has been asked to join its board but has not provided an answer.", "path": "kitchen-l/_americas/sec_media/40."}, "s854": {"from": "rahil.jafry@enron.com", "to": "louise.kitchen@enron.com, marcus.nettelton@enron.com", "subject": "FW: Highlights from this morning's ENE/DYN analyst conference call", "text": "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.  \n\nSpecific points:\nEES will be a part of the new company.  \nEnron assets will be revalued at closing.  \nThe 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.", "clipped": true, "phrase": "Dynegy management was noticeably in control of the call.  Enron executives spoke when questions were directed to them.", "path": "kitchen-l/_americas/east_power/12."}, "s782": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions - 11/09/01-11/10/01", "text": "Buying Enron at a deep discount -- it has lost $60 billion in market value this year -- could make Dynegy the dominant trader of electricity and natural gas. But the agreement carries big risks as well. Along with Enron's gas pipelines and high-technology trading floor, Dynegy will take on Enron's substantial debt and a web of complex transactions that Enron has spun over the last decade.", "clipped": true, "phrase": "Buying Enron at a deep discount -- it has lost $60 billion in market value this year -- could make Dynegy the dominant trader of electricity and natural gas.", "path": "kitchen-l/_americas/sec_media/40."}, "s786": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions - 11/09/01-11/10/01", "text": "The new company will combine Enron's 25,000-mile natural gas pipeline system with the large number of power plants that Dynegy owns worldwide, as well as Illinois Power, a Dynegy subsidiary that serves 650,000 customers in Illinois. But its most important asset will be its trading desk. It will be the largest energy trader in the nation, trading more than twice as much power and natural gas as its closest competitors. \nMr. Watson said the company did not expect to sell significant properties and that the deal should pass regulatory scrutiny. ''There's really not a lot of overlap in assets,'' he said.", "clipped": true, "phrase": "It will be the largest energy trader in the nation, trading more than twice as much power and natural gas as its closest competitors.", "path": "kitchen-l/_americas/sec_media/40."}, "s785": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions - 11/09/01-11/10/01", "text": "Charles L. Watson, Dynegy's chairman and chief executive, said yesterday that Dynegy could sort through Enron's tangled finances. ''We know the company well,'' Mr. Watson said. ''It's not like we just started fresh. I'm confident that it's as solid as we thought it was.'' \nThe new company will combine Enron's 25,000-mile natural gas pipeline system with the large number of power plants that Dynegy owns worldwide, as well as Illinois Power, a Dynegy subsidiary that serves 650,000 customers in Illinois. But its most important asset will be its trading desk. It will be the largest energy trader in the nation, trading more than twice as much power and natural gas as its closest competitors. \nMr. Watson said the company did not expect to sell significant properties and that the deal should pass regulatory scrutiny. ''There's really not a lot of overlap in assets,'' he said.", "clipped": true, "phrase": "The new company will combine Enron's 25,000-mile natural gas pipeline system with the large number of power plants that Dynegy owns worldwide, as well as Illinois Power, a Dynegy subsidiary that serves 650,000 customers in Illinois.", "path": "kitchen-l/_americas/sec_media/40."}, "s823": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions", "text": "Enron currently handles a quarter of all the natural gas and electricity traded in the United States. The combined company -- which would be called Dynegy Inc. -- would have 22,000 megawatts of generating capacity and 40,000 kilometres of natural gas pipelines, making it one of the largest companies in the United States in each of those categories. \nWhile Enron and Dynegy officials said they expect the merger to garner the necessary government approvals, the review by regulators is expected to take months.", "clipped": true, "phrase": "The combined company -- which would be called Dynegy Inc. -- would have 22,000 megawatts of generating capacity and 40,000 kilometres of natural gas pipelines", "path": "kitchen-l/_americas/sec_media/38."}, "s830": {"from": "issuealert@scientech.com", "to": "issuealerthtml@listserv.scientech.com", "subject": "Dynegy and Enron Announce Merger", "text": "giant that was valued last year at nearly $80 billion. Enron's stock fell sharply in the past month due to investors' concerns about murky transactions that sparked an investigation by U.S. regulators and damaging downgrades by credit rating agencies. The merged company will retain the Dynegy name. It will have annual revenues of more than $200 billion and assets worth $90 billion, including more than 22,000 megawatts of electricity generating capacity and 25,000 miles of natural-gas pipelines. It will be North America's biggest marketer and trader of natural gas and electricity, positions previously held by Enron.", "clipped": true, "phrase": "It will have annual revenues of more than $200 billion and assets worth $90 billion, including more than 22,000 megawatts of electricity generating capacity and 25,000 miles of natural-gas pipelines.", "path": "kean-s/dynegy_transaction/4."}, "s836": {"from": "issuealert@scientech.com", "to": "issuealerthtml@listserv.scientech.com", "subject": "Dynegy and Enron Announce Merger", "text": "The purchase of Enron will literally quadruple Dynegy's size and should immediately provide an accretive earnings contribution. Further, Dynegy claims that it expects a 15- to 20-percent annual earnings growth over the next three years following its planned acquisition of Enron. If it gains all of the necessary regulatory approvals, Dynegy will become the undisputed market leader in the energy industry, with annual revenues of $200 billion and $90 billion in assets. The company will have 22,000 MW of generating capacity, which moves its closer to the previously established goal of accumulating 70,000 MW by 2005. In other words, the combined company will dwarf any other competition in the trading sector and be considerab", "clipped": true, "phrase": "Further, Dynegy claims that it expects a 15- to 20-percent annual earnings growth over the next three years following its planned acquisition of Enron.", "path": "kean-s/dynegy_transaction/4."}, "s816": {"from": "hemery@firstunion1.com", "to": "undisclosed-recipients@enron.com", "subject": "Dynegy/Enron-CS First Boston Research", "text": "Summary\n\nAfter the close on Friday, DYN confirmed that it would acquire Enron (ENE, 8.63,\nStrong Buy) for 0.2685 DYN shares plus assumption of debt and an equity infusion\nof $2.5 billion. This values ENE at $10.40 per share based on DYN's Friday\nclose.\n\nOur initial analyses show the merger to be additive to pro-forma '02 eps for DYN\nby 25% to $3.25-$3.30 vs our current estimate of $2.55. We estimate the deal\nmultiples as about 7x '02 eps, 3.2x '02 cash flow, 0.85x book value and 5x\nEV/EBITDA based on our revised '02 estimates for ENE.\n\nWe would note that DYN has projected a pro-forma '02 of $3.40-$3.50 per share\nbefore cost savings and synergies.\n\nWe expect the deal to close in 9-12 months pending reviews by the SEC, FTC, FERC\nand state PSCs. Despite the size of the combined company, we do not expect major", "clipped": true, "phrase": "Our initial analyses show the merger to be additive to pro-forma '02 eps for DYN\nby 25% to $3.25-$3.30 vs our current estimate of $2.55.", "path": "kean-s/dynegy_transaction/3."}, "s817": {"from": "hemery@firstunion1.com", "to": "undisclosed-recipients@enron.com", "subject": "Dynegy/Enron-CS First Boston Research", "text": "by 25% to $3.25-$3.30 vs our current estimate of $2.55. We estimate the deal\nmultiples as about 7x '02 eps, 3.2x '02 cash flow, 0.85x book value and 5x\nEV/EBITDA based on our revised '02 estimates for ENE.\n\nWe would note that DYN has projected a pro-forma '02 of $3.40-$3.50 per share\nbefore cost savings and synergies.\n\nWe expect the deal to close in 9-12 months pending reviews by the SEC, FTC, FERC\nand state PSCs. Despite the size of the combined company, we do not expect major\ndivestitures or closing issues because of the lack of asset concentration and\nthe inherent competitiveness of the natural gas and power marketing business.\n\nIn a report dated Nov 5, we valued ENE at $31 per share. In our view, the deal", "clipped": true, "phrase": "DYN has projected a pro-forma '02 of $3.40-$3.50 per share\nbefore cost savings and synergies.", "path": "kean-s/dynegy_transaction/3."}, "s847": {"from": "rahil.jafry@enron.com", "to": "louise.kitchen@enron.com, marcus.nettelton@enron.com", "subject": "FW: Highlights from this morning's ENE/DYN analyst conference call", "text": "Initial reaction of ratings agencies 'very positive' to combined entities.  \nMcMahon acknowledges that Enron would have had to have an additional equity infusion prior to year-end, had the merger not materialized.\nDynegy'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.\nDoty 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.", "clipped": true, "phrase": "Dynegy's earnings guidance places Enron-related earnings accretion at $0.90-0.95, which represents a '25% haircut' to Enron internal estimates.", "path": "kitchen-l/_americas/east_power/12."}, "s821": {"from": "hemery@firstunion1.com", "to": "undisclosed-recipients@enron.com", "subject": "Dynegy/Enron-CS First Boston Research", "text": "of $2.5 billion. This values ENE at $10.40 per share based on DYN's Friday\nclose.\n\nOur initial analyses show the merger to be additive to pro-forma '02 eps for DYN\nby 25% to $3.25-$3.30 vs our current estimate of $2.55. We estimate the deal\nmultiples as about 7x '02 eps, 3.2x '02 cash flow, 0.85x book value and 5x\nEV/EBITDA based on our revised '02 estimates for ENE.\n\nWe would note that DYN has projected a pro-forma '02 of $3.40-$3.50 per share\nbefore cost savings and synergies.\n\nWe expect the deal to close in 9-12 months pending reviews by the SEC, FTC, FERC\nand state PSCs. Despite the size of the combined company, we do not expect major\ndivestitures or closing issues because of the lack of asset concentration and", "clipped": true, "phrase": "We estimate the deal\nmultiples as about 7x '02 eps, 3.2x '02 cash flow, 0.85x book value and 5x\nEV/EBITDA", "path": "kean-s/dynegy_transaction/3."}, "s793": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions - 11/09/01-11/10/01", "text": "The companies also have very different corporate cultures. Dynegy emphasizes teamwork, while Enron is more competitive, said Ehud Ronn, director of the Center for Energy Finance Education and Research at the University of Texas. Even before the merger was announced, Enron had lost some of its employees to other energy trading companies, Mr. Ronn said.", "clipped": true, "phrase": "The companies also have very different corporate cultures. Dynegy emphasizes teamwork, while Enron is more competitive, said Ehud Ronn", "path": "kitchen-l/_americas/sec_media/40."}, "s852": {"from": "rahil.jafry@enron.com", "to": "louise.kitchen@enron.com, marcus.nettelton@enron.com", "subject": "FW: Highlights from this morning's ENE/DYN analyst conference call", "text": "BBB-flat most likely rating for combined entity, according to initial comments from ratings agencies.\nMcMahon 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.\nConsolidation 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.", "clipped": true, "phrase": "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.", "path": "kitchen-l/_americas/east_power/12."}, "s855": {"from": "billy.lemmons@enron.com", "to": "", "subject": "Associate / Analyst Program", "text": "s many questions right now regarding the future of the Associate / Analyst Program.  We are working as quickly as possible with the business units and executive management to determine the future course of the Program.  As the merger points on the Enron homepage indicate (<http://home.enron.com/>), Dynegy has a similar program called \"PACE\", and the two companies will consider a combination of the two programs.  \n\nToday, all of the business units within Enron will be holding floor meetings to discuss the pending merger and it's implications for Enron.  I encourage each of you to participate in one of these meetings.", "clipped": true, "phrase": "Dynegy has a similar program called \"PACE\", and the two companies will consider a combination of the two programs.", "path": "kitchen-l/_americas/hr/16."}, "s807": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions - 11/11/01", "text": "\"Disclosure cases and state corporate law cases are all but assured in situations like this,\" Coates said. \"Even if the SEC does very little, the shareholders will still line up.\"\n\nPhoto: The new Enron Corp. building, framed by a curved walkway, is still under construction in downtown Houston. If Dynegy's proposal is approved, the $200 million, 40-story building will be among its new assets in the purchase of its much larger rival. \nCopyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved. \t\n\nNEWS\nDemise of Enron a blow to city / As local business pillars crumble, Dynegy a bright spot\nDAVID KAPLAN\nStaff\n\n11/11/2001\nHouston Chronicle\n4 STAR\n1\n(Copyright 2001)\n\nIt seems like only days ago that Enron Corp. was being held up as an example of a company that could see the future. \nThe wizards of Wall Street were marveling at the corporation's bold, innovative strategies.", "clipped": true, "phrase": "If Dynegy's proposal is approved, the $200 million, 40-story building will be among its new assets in the purchase of its much larger rival.", "path": "kitchen-l/_americas/sec_media/39."}, "s962": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "Consortium's return sparks renewed hope in gas pipeline project\nAssociated Press Newswires, 11/15/01\nUSA: Janus funds dumped EMC in third quarter.\nReuters English News Service, 11/15/01\n\nCash Infusion Little Comfort To Enron Counterparties\nDow Jones Energy Service, 11/15/01\n\nDynegy May Want Some Of Enron's Broadband Assets\nDow Jones Energy Service, 11/15/01\n\nIn Business This Week\nA MERGER AHEAD FOR ENRON?\nEdited by Monica Roman\n\n11/19/2001\nBusinessWeek\n50\n(Copyright 2001 McGraw-Hill, Inc.)", "clipped": true, "phrase": "Dynegy May Want Some Of Enron's Broadband Assets", "path": "kitchen-l/_americas/sec_media/31."}, "s828": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions", "text": "But the fate of the offers from Bombay-based Tata Power and BSES for India's biggest and most politically divisive foreign direct investment remain uncertain following Enron's absorption by Dynegy and legal moves by Indian creditors challenging a possible sale. \nAlthough Dynegy has not publicly commented on the $2.9bn Indian plant, observers say it is unlikely to welcome the political problems surrounding the project and will press for a sale. \nThe board of DPC, Enron's Indian arm, is set to meet on November 19, the day it was expected to announce a final notice that it was quitting the plant. But on Friday, Indian creditors won a temporary injunction in a Bombay court restraining DPC until December 3. \nForeign and Indian creditors and DPC have been trying to broker a compromise for months after a fall-out between DPC and its sole local customer, Maharashtra State Electricity Board.", "clipped": true, "phrase": "Although Dynegy has not publicly commented on the $2.9bn Indian plant, observers say it is unlikely to welcome the political problems surrounding the project and will press for a sale.", "path": "kitchen-l/_americas/sec_media/38."}, "s923": {"from": "chairman.ken@enron.com", "to": "dl-ga-all_enron_worldwide5@enron.com", "subject": "Change of Control Provisions", "text": "As many of you know, I have a provision in my employment contract which provides for a payment of $20 million per year for the remaining term of my contract in the event of a change of control of Enron.  The merger with Dynegy, or a similar transaction with any other company, would trigger this provision on closing.  Assuming the merger with Dynegy is closed within 6-9 months, as we expect, this provision would entitle me to total payments of slightly more than $60 million.", "clipped": true, "phrase": "The merger with Dynegy, or a similar transaction with any other company, would trigger this provision on closing.", "path": "jones-t/inbox/982."}, "s929": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "Reuters English News Service, 11/14/01\n\nEnron's Lay Turns Down Severance Pay\nBy Rebecca Smith and John R. Emshwiller\nStaff Reporters of The Wall Street Journal\n\n11/14/2001\nThe Wall Street Journal\nA3\n(Copyright (c) 2001, Dow Jones & Company, Inc.)\n\nEnron Corp. said its chairman, Kenneth Lay, has decided to forgo a severance payment of $60.6 million that could be triggered by Dynegy Inc.'s planned acquisition of Enron. Mr. Lay's decision capped a day in which he appears to have changed his mind on the matter at least twice.", "clipped": true, "phrase": "Enron Corp. said its chairman, Kenneth Lay, has decided to forgo a severance payment of $60.6 million that could be triggered by Dynegy Inc.'s planned acquisition of Enron.", "path": "kitchen-l/_americas/sec_media/33."}, "s988": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions - 11/17/01 - 11/18/01", "text": "Then Ken Lay, chairman of Enron Corp., said he won't take the $60.6 million he had coming to him in a severance agreement that comes into play when Enron is sold to Dynegy Corp. \nOf course, neither McGwire nor Lay will ever have to consider my fallback retirement plan - sacking groceries at the supermarket, carrying them to the car and hoping for a big tip. Still, it was a class act on both their parts. McGwire only hit .187 last season, well below his lifetime average. And Lay? Well, let's say that rarely in the history of American capitalism has a company sunk as fast as Enron.", "clipped": true, "phrase": "Ken Lay, chairman of Enron Corp., said he won't take the $60.6 million he had coming to him in a severance agreement that comes into play when Enron is sold to Dynegy Corp.", "path": "kean-s/deleted_items/369."}, "s950": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions- 11/14/01", "text": "Baker said the support staff feels their jobs are the ones most threatened by the proposed Dynegy merger. \nDynegy is buying Enron for its trading operation and has said it is confident the best will stick around. \nUpon completion of the merger, the combined company, to be called Dynegy Inc., is expected to have revenues exceeding $200 billion and $90 billion in assets. \nDynegy agreed to buy its larger cross-town rival after Enron investors lost faith in the company whose stock plummeted following its disclosure of off-balance sheet deals with partnerships run by its former chief financial officer. \nThe stock was off 8 cents, or 0.8 percent, at $9.92 a share at the close on New York Stock Exchange trade Wednesday, well below its 52-week high of $84.88.", "clipped": true, "phrase": "Upon completion of the merger, the combined company, to be called Dynegy Inc., is expected to have revenues exceeding $200 billion and $90 billion in assets.", "path": "kitchen-l/_americas/sec_media/32."}, "s951": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions- 11/14/01", "text": "\"There's a lot of overlap at both firms. I don't think there will be enough room for everyone,\" a trader at another Texas-based energy firm said. \nEnron is the nation's biggest buyer and seller of natural gas and electricity. Dynegy is about a fifth as big as Enron measured in terms of revenue. \nDespite the job uncertainty hanging over their heads, traders said they could not name a single Enron or Dynegy trader actively scouting out a new employer. \n\"Everyone seems to be waiting to see what happens. There are only a few trader jobs open in the country right now. Those positions will likely be filled pretty quickly if this merger goes through,\" another trader said.", "clipped": true, "phrase": "Dynegy is about a fifth as big as Enron measured in terms of revenue.", "path": "kitchen-l/_americas/sec_media/32."}, "s930": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "Separately, the California Public Employees' Retirement System, which owns about three million Enron and 500,000 Dynegy shares, said it would oppose the appointment of any current Enron board member to the board of a combined company. Michael Flaherman, chair of CalPERS investment committee said that it appeared that Enron's board \"failed in its responsibility\" to monitor the activities of Enron executives.", "clipped": true, "phrase": "Separately, the California Public Employees' Retirement System, which owns about three million Enron and 500,000 Dynegy shares, said it would oppose the appointment of any current Enron board member to the board of a combined company.", "path": "kitchen-l/_americas/sec_media/33."}, "s931": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "It was about an hour later that Enron said Mr. Lay would give up the severance entirely. \nMr. Lay has not decided whether to accept an invitation to be on the board of the combined company, which will be called Dynegy. \nThe deal could still fall victim to antitrust objections or disclosures of further financial problems at Enron. \nWhether Mr. Lay's gesture will placate Enron's traders, who are now deluging other energy-trading companies with resumes, remains to be seen. Dynegy is known as a much more conservative firm than Enron, and analysts renewed their concerns yesterday about the cultural clash draining the talent, and value, from the combined company.", "clipped": true, "phrase": "Mr. Lay has not decided whether to accept an invitation to be on the board of the combined company, which will be called Dynegy.", "path": "kitchen-l/_americas/sec_media/33."}, "s958": {"from": "paul.kaufman@enron.com", "to": "mark.metts@enron.com, jessica.uhl@enron.com, paul.puchot@enron.com,   \trichard.shapiro@enron.com, j..kean@enron.com", "subject": "FW: Application Filing", "text": "To: Kaufman, Paul\nSubject: RE: Application Filing\n\nthanks, do you want me to forward this to \"all\"?\n\n-----Original Message-----\nFrom: Kaufman, Paul [mailto:Paul.Kaufman@ENRON.com]\nSent: Tuesday, November 13, 2001 2:51 PM\nTo: HELLMAN Marc\nSubject: RE: Application Filing\n\nThe short answer is that the Dynegy merger with Enron does not affect\nthe NWN acquisition of PGE.  Both Enron and Dynegy remain committed to\nthe NWN transaction.  There are no direct implications for the sale as\nNWN, not Enron, is the issuer of the equity in the transaction.  The\nstructure of the seller financing has not changed.  \n\nBruce DeBolt did describe the only indirect impact of Enron's current\nsituation--i.e., that there are certain restrictions on Enron's ability\nto transfer the securities it holds to an affiliated interest if Enron's\ncredit rating decays to a given point.", "clipped": true, "phrase": "The short answer is that the Dynegy merger with Enron does not affect\nthe NWN acquisition of PGE.  Both Enron and Dynegy remain committed to\nthe NWN transaction.", "path": "kean-s/pge/202."}, "s967": {"from": "richard.shapiro@enron.com", "to": "daniel.allegretti@enron.com, joe.allen@enron.com, ray.alvarez@enron.com,   \tsergio.assad@enron.com, lisa.assaf@enron.com,   \tkara.ausenhus@enron.com, lynnette.barnes@enron.com,   \tkirsten.bellas@enron.com, jose.bestard@enron.com,   \tdarran.", "subject": "Government Affairs Organization Announcement", "text": "With the announcement of Enron's acquisition by Dynegy behind us, and with the initial severance process completed, it seemed an appropriate time to effect some organizational changes so that we as a group are better prepared to meet the challenges of the future.  Before I turn to the organizational changes, I would like to say a few words about those who will be leaving the company as a result of the initial severance (you'll know who they are by their absence on the organizational chart): Leading and being a part of this group has been a privilege?I am tha", "clipped": true, "phrase": "With the announcement of Enron's acquisition by Dynegy behind us, and with the initial severance process completed", "path": "kean-s/organization/90."}, "s980": {"from": "jim.fallon@enron.com", "to": "j..kean@enron.com", "subject": "FW: Government Affairs Organization Announcement", "text": "Subject:\tGovernment Affairs Organization Announcement\n\nWith the announcement of Enron's acquisition by Dynegy behind us, and with the initial severance process completed, it seemed an appropriate time to effect some organizational changes so that we as a group are better prepared to meet the challenges of the future.  Before I turn to the organizational changes, I would like to say a few words about those who will be leaving the company as a result of the initial severance (you'll know who they are by their absence on the organizational chart): Leading and being a part of this group has been a privilege?I am thankful for every day that I have had that responsibility and thankful", "clipped": true, "phrase": "With the announcement of Enron's acquisition by Dynegy behind us, and with the initial severance process completed, it seemed an appropriate time to effect some organizational changes", "path": "kean-s/deleted_items/343."}, "s982": {"from": "jim.fallon@enron.com", "to": "j..kean@enron.com", "subject": "FW: Government Affairs Organization Announcement", "text": "f you has had to live through this uncertain and troubled period for the company.  We are all saddened by the recognition that we are in the midst of changes that will leave our group fundamentally altered, but we must resolve to do our best for each other and ourselves during this period of change to ensure that what emerges, for those of us who do remain a part of the new Dynegy, reflects the excellence and integrity that has characterized our group.  Personally, I will do all I can, for as long as I can, to steer the group through this to the very best place possible.  Your continued dedication and support is very much appreciated.  Hang in there and thanks.", "clipped": true, "phrase": "to ensure that what emerges, for those of us who do remain a part of the new Dynegy, reflects the excellence and integrity that has characterized our group.", "path": "kean-s/deleted_items/343."}, "s1023": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions- 11/19/01", "text": "Last week, the $143 billion California Public Employees' Retirement System, or Calpers, issued a release stating their intention to oppose the appointment of any current Enron board member to the board of any company with which Enron may be contemplating a merger. \nThe statement came following reports that Enron might be acquired by smaller rival Dynegy Inc. (DYN), and that Enron was seeking the right to appoint three members to the combined company board. \n\"Until all of these issues are sorted out, the interests of shareholders are best served by retirement of all the current directors,\" Michael Flaherman, chair of Calpers' investment committee, said in the statement. \nHowever, Calpers has no comment regarding possible legal action against Enron, spokesman Brad Pacheco said. \nCalpers owns about three million shares of Enron and also invests in Dynegy.", "clipped": true, "phrase": "The statement came following reports that Enron might be acquired by smaller rival Dynegy Inc. (DYN), and that Enron was seeking the right to appoint three members to the combined company board.", "path": "kitchen-l/_americas/sec_media/26."}, "s1015": {"from": "david.oxley@enron.com", "to": "mary.joyce@enron.com, exec.jones@enron.com, tim.o'rourke@enron.com,   \tscott.gilchrist@enron.com, michelle.cash@enron.com,   \tkriste.sullivan@enron.com, kalen.pieper@enron.com,   \tcindy.olson@enron.com, j..kean@enron.com", "subject": "I have a meeting with Dynegy tomorrow at 1pm", "text": "The provisional agenda is:\n\nHiring protocol - agree wording. Suggestion: No severance payment from Enron, no 4 or 5 performers, and minimum 90 day sit out for all no-compete individuals.\nSeverance update: illustration of current and revised plans which we have yet to decide on.\nOverview of Nov 27 areas of headcount reduction.\nMore detailed overview of HR planned re-structuring (still high level - although I would be interested in seeing if she is interested in any potentially redundant talent)\nOverview of retention plan.\n\nPlease comment.\n\nTim/Scott, please help prepare pack I will need and make sure legal are ok with what we all agree to hand over to her on above.\n\nDavid", "clipped": false, "phrase": "Hiring protocol - agree wording. Suggestion: No severance payment from Enron, no 4 or 5 performers, and minimum 90 day sit out for all no-compete individuals.", "path": "kean-s/deleted_items/330."}, "s1016": {"from": "david.oxley@enron.com", "to": "mary.joyce@enron.com, exec.jones@enron.com, tim.o'rourke@enron.com,   \tscott.gilchrist@enron.com, michelle.cash@enron.com,   \tkriste.sullivan@enron.com, kalen.pieper@enron.com,   \tcindy.olson@enron.com, j..kean@enron.com", "subject": "I have a meeting with Dynegy tomorrow at 1pm", "text": "The provisional agenda is:\n\nHiring protocol - agree wording. Suggestion: No severance payment from Enron, no 4 or 5 performers, and minimum 90 day sit out for all no-compete individuals.\nSeverance update: illustration of current and revised plans which we have yet to decide on.\nOverview of Nov 27 areas of headcount reduction.\nMore detailed overview of HR planned re-structuring (still high level - although I would be interested in seeing if she is interested in any potentially redundant talent)\nOverview of retention plan.\n\nPlease comment.\n\nTim/Scott, please help prepare pack I will need and make sure legal are ok with what we all agree to hand over to her on above.\n\nDavid", "clipped": false, "phrase": "Severance update: illustration of current and revised plans which we have yet to decide on.", "path": "kean-s/deleted_items/330."}, "s1017": {"from": "david.oxley@enron.com", "to": "mary.joyce@enron.com, exec.jones@enron.com, tim.o'rourke@enron.com,   \tscott.gilchrist@enron.com, michelle.cash@enron.com,   \tkriste.sullivan@enron.com, kalen.pieper@enron.com,   \tcindy.olson@enron.com, j..kean@enron.com", "subject": "I have a meeting with Dynegy tomorrow at 1pm", "text": "The provisional agenda is:\n\nHiring protocol - agree wording. Suggestion: No severance payment from Enron, no 4 or 5 performers, and minimum 90 day sit out for all no-compete individuals.\nSeverance update: illustration of current and revised plans which we have yet to decide on.\nOverview of Nov 27 areas of headcount reduction.\nMore detailed overview of HR planned re-structuring (still high level - although I would be interested in seeing if she is interested in any potentially redundant talent)\nOverview of retention plan.\n\nPlease comment.\n\nTim/Scott, please help prepare pack I will need and make sure legal are ok with what we all agree to hand over to her on above.\n\nDavid", "clipped": false, "phrase": "Overview of Nov 27 areas of headcount reduction.", "path": "kean-s/deleted_items/330."}, "s1037": {"from": "mark.pickering@enron.com", "to": "j..kean@enron.com", "subject": "Transition", "text": "In addition, we must begin preparing for the completion of our merger with Dynegy and the integration of our two organizations. Our goal is to put together the strongest possible combined organization: an organization with the best people, systems, and facilities. Not all of this needs to be accomplished immediately, but we do need to start the process early and steadily escalate this activity as closing approaches. Steve Kean, Enron executive vice president and chief of staff, will lead this transition effort for Enron. We will add additional resources to this effort a", "clipped": true, "phrase": "we must begin preparing for the completion of our merger with Dynegy and the integration of our two organizations", "path": "kean-s/deleted_items/377."}, "s1038": {"from": "mark.pickering@enron.com", "to": "j..kean@enron.com", "subject": "Transition", "text": "ations. Our goal is to put together the strongest possible combined organization: an organization with the best people, systems, and facilities. Not all of this needs to be accomplished immediately, but we do need to start the process early and steadily escalate this activity as closing approaches. Steve Kean, Enron executive vice president and chief of staff, will lead this transition effort for Enron. We will add additional resources to this effort as time goes on.\n\nThank you again for all of your work and dedication to Enron.", "clipped": true, "phrase": "Steve Kean, Enron executive vice president and chief of staff, will lead this transition effort for Enron.", "path": "kean-s/deleted_items/377."}, "s1062": {"from": "andy.unverzagt@enron.com", "to": "j..kean@enron.com", "subject": "FW: Re: Enron - Dynegy Integration Team Members", "text": "-----Original Message-----\nFrom: \tUnverzagt, Andy  \nSent:\tMonday, November 12, 2001 8:31 AM\nTo:\tOlson, Cindy\nCc:\tMcconnell, Mike; Fallon, Jim\nSubject:\tRe: Enron - Dynegy Integration Team Members \n\nTo:  Cindy Olsen\t\nCopy:  Mike McConnell, Jim Fallon\t\t\nRe: Enron - Dynegy Integration Team Members \n\nAs I was reading Ken Lay's announcements about Enron's merger with Dynegy, he mentioned forming an integration team.\n\nHaving twenty-three plus years of a wide range of knowledge and experience across much of Enron, I feel and believe I could be a key contributor in the integration of our two companies together.  \n \nMy career with Enron has ranged from activities with many parts of our trading business, key roles in large and complex Merger and Acquisition projects, as well as working on our various pipelines.", "clipped": true, "phrase": "As I was reading Ken Lay's announcements about Enron's merger with Dynegy, he mentioned forming an integration team.", "path": "kean-s/integration/integration___team/1."}, "s1076": {"from": "cindy.olson@enron.com", "to": "j..kean@enron.com", "subject": "FW: Re: Enron - Dynegy Integration Team Members", "text": "-----Original Message-----\nFrom: \tUnverzagt, Andy  \nSent:\tMonday, November 12, 2001 8:31 AM\nTo:\tOlson, Cindy\nCc:\tMcconnell, Mike; Fallon, Jim\nSubject:\tRe: Enron - Dynegy Integration Team Members \n\nTo:  Cindy Olsen\t\nCopy:  Mike McConnell, Jim Fallon\t\t\nRe: Enron - Dynegy Integration Team Members \n\nAs I was reading Ken Lay's announcements about Enron's merger with Dynegy, he mentioned forming an integration team.\n\nHaving twenty-three plus years of a wide range of knowledge and experience across much of Enron, I feel and believe I could be a key contributor in the integration of our two companies together.  \n \nMy career with Enron has ranged from activities with many parts of our trading business, key roles in large and complex Merger and Acquisition projects, as well as working on our various pipelines.", "clipped": true, "phrase": "As I was reading Ken Lay's announcements about Enron's merger with Dynegy, he mentioned forming an integration team.", "path": "kean-s/integration/integration___team/3."}, "s1127": {"from": "kurt.wangenheim@enron.com", "to": "j..kean@enron.com", "subject": "Transition Team", "text": "Steve,\n\nI had the opportunity to work with you during the Rice University Day-2 interviews last month (I hope you remember).  It was our first time working together, and I enjoyed our interaction.  \n\nAs we go forward with the Dynegy merger, I would like to offer my services as part of the transition team.  From April of 1999 until June of 2001, I was a key leader in EES's transition team for outsource contracts.  While I recognize that the EES contracts and the Dynegy merger are not the same, I have the fundamentals, know our businesses, and can make significant contributions, if given the chance.\n\nIf you are interested in having me as part of the team, great; and if not, as they say in basketball, \"no harm, no foul.\"\n\nBest Regards,\n\nKurt Wangenheim\nSr. Director\nEES\nTel: 3-0316", "clipped": false, "phrase": "As we go forward with the Dynegy merger, I would like to offer my services as part of the transition team.", "path": "kean-s/integration/integration___team/4."}, "s1100": {"from": "j..detmering@enron.com", "to": "mitch.taylor@enron.com, j..kean@enron.com", "subject": "Re: FW: employment agreements", "text": "Has Dynegy made a specific request?  If so what was it?  I think what you are proposing should be fine but it would help to understand the background.\n--------------------------\nSent from my BlackBerry Wireless Handheld (www.BlackBerry.net)", "clipped": false, "phrase": "Has Dynegy made a specific request?  If so what was it?", "path": "kean-s/deleted_items/416."}, "s1159": {"from": "karen.denne@enron.com", "to": "kenneth.lay@enron.com, mark.frevert@enron.com, greg.whalley@enron.com,   \tj..kean@enron.com, pr <.palmer@enron.com>, mark.koenig@enron.com,   \tjames.derrick@enron.com, rex.rogers@enron.com,   \traymond.bowen@enron.com, jeffrey.mcmahon@enron.", "subject": "Articles", "text": "Since last month when Enron became a target of a Securities and Exchange Commission investigation into financial dealings with partnerships, the energy giant's market share has steadily eroded. \nWhile neither Enron nor Dynegy have given any indication of the number of layoffs that could hit Houston, Barton Smith, director of the Institute for Regional Forecasting at the University of Houston, said the layoffs \"will be spread out over a long period of time and will not be excessive.\"", "clipped": true, "phrase": "While neither Enron nor Dynegy have given any indication of the number of layoffs that could hit Houston", "path": "kean-s/deleted_items/460."}, "s1199": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions - 11/26/01", "text": "says. A WANNABE. Of course, regulators may object to the concentration of trading operations. And Watson will have to mesh two very different cultures. Enron is known for its intense, even cutthroat entrepreneurial spirit. Dynegy's operations are more conservative; some compare it to a fraternity. Dynegy's decision to issue new stock options to some Enron employees may soothe battered egos. It should help, too, that Lay decided not to take the $60 million golden parachute he could have received in a buyout. As it is, Lay will not have a management job with the new company.", "clipped": true, "phrase": "Dynegy's decision to issue new stock options to some Enron employees may soothe battered egos.", "path": "kean-s/deleted_items/478."}, "s1248": {"from": "todd.hall@enron.com", "to": "cindy.horn@enron.com, a..price@enron.com", "subject": "FW: BEWARE!", "text": "To:\tMurphy, Ted; Nath, Tani; Mahoney, Chris; Staley, Stuart; Dallmann, Shane; Towarek, Michael; Harris, Clay; Hall, D. Todd; Murray, Paul; Blesie, Brad\nCc:\tTaucher, Lisa; Ahamer, Karin; Favero, Jana; Marshall, Christie; Sutcliffe, Michelle; Bignall, Pip\nSubject:\tBEWARE!\n\nAll,\n\nEarlier today, an individual at Enron was contacted by someone claiming to be Jackie Buckhold (HR) from Dynegy.  The caller was requesting a copy of an organisational chart.  Evidence now seems to point in the direction that the caller was not Jackie Buckhold at all, but a recruitment consultant.\n\nPlease be aware that we should be exceptionally careful when providing information externally to maintain the confidentiality of Enron.  This is a common tactic of recruitment agencies, please emphasise to your staff that all external requests for internal information should be passed through yourselves or HR.", "clipped": true, "phrase": "Earlier today, an individual at Enron was contacted by someone claiming to be Jackie Buckhold (HR) from Dynegy.  The caller was requesting a copy of an organisational chart.", "path": "beck-s/deleted_items/296."}, "s1297": {"from": "carlos.sole@enron.com", "to": "kay.mann@enron.com", "subject": "FW: Enron mentions 112701 4 p.m.", "text": "\"This business is hugely dependent on volumes and volume growth. It is the principal reason that Dynegy is making the deal. If it's worth a lot less then Enron is worth less. It's vital to stop the bleeding in its core trading and marketing business,\" said Commerzbank analyst Andre Meade.", "clipped": true, "phrase": "It is the principal reason that Dynegy is making the deal. If it's worth a lot less then Enron is worth less.", "path": "mann-k/deleted_items/179."}, "s1278": {"from": "kay.mann@enron.com", "to": "ben.jacoby@enron.com", "subject": "RE: NorthWestern", "text": "Dynegy is getting a very nice building.  See you in a bit.\n\n -----Original Message-----\nFrom: \tJacoby, Ben  \nSent:\tTuesday, November 27, 2001 12:36 PM\nTo:\tMann, Kay\nSubject:\tRE: NorthWestern\n\nDave is around. Digs are OK, but it's odd that all this money was spent, given our current circumstances.\n\n -----Original Message-----\nFrom: \tMann, Kay  \nSent:\tTuesday, November 27, 2001 12:32 PM\nTo:\tJacoby, Ben\nSubject:\tRE: NorthWestern\n\nNo need to hold off.  I'm not worried about GE.", "clipped": true, "phrase": "Dynegy is getting a very nice building.  See you in a bit.", "path": "mann-k/sent_items/261."}, "s1279": {"from": "ben.jacoby@enron.com", "to": "kay.mann@enron.com", "subject": "RE: NorthWestern", "text": "Yes, they are getting a nice building, but will anyone still be here when they get it?\n\nDave just dropped by. He's around until 2:30 today, and back tomorrow.\n\nAre you coming over?\n\n -----Original Message-----\nFrom: \tMann, Kay  \nSent:\tTuesday, November 27, 2001 12:37 PM\nTo:\tJacoby, Ben\nSubject:\tRE: NorthWestern\n\nDynegy is getting a very nice building.  See you in a bit.\n\n -----Original Message-----\nFrom: \tJacoby, Ben  \nSent:\tTuesday, November 27, 2001 12:36 PM\nTo:\tMann, Kay\nSubject:\tRE: NorthWestern", "clipped": true, "phrase": "Yes, they are getting a nice building, but will anyone still be here when they get it?", "path": "mann-k/deleted_items/167."}, "s1272": {"from": "david.oxley@enron.com", "to": "kathryn.schultea@enron.com", "subject": "Severance", "text": "Kathy,\n\nMy recollection is the costs to us were roughly:\n\nScenario 1\t\t\t\t$55m\n2 week for service\n2 weeks for $10k in pay\nMin 8 weeks max 52\n\nScenario 2\t\t\t\t$45m\n1.5 weeks\n1.5 weeks\nMin 8 max 39\n\nScenario 3\t\t\t\t$35m\nDynegy\n2 weeks\nMin 13 weeks max 52\n\nI've pitched the following compromise to Dynegy this morning:\n\n2 weeks for service\n2 weeks for every $10k of salary capped at $100k\nMin 13 weeks max 52 weeks.\n\nCan you run numbers and correct above if I'm way off.\n\nThanks\n\nDavid", "clipped": false, "phrase": "I've pitched the following compromise to Dynegy this morning:\n\n2 weeks for service\n2 weeks for every $10k of salary capped at $100k\nMin 13 weeks max 52 weeks.", "path": "kean-s/budget/73."}, "s1376": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions- 11/29/01", "text": "business, and negotiations are expected to lead to a successful\ndeal'' soon, said Tony Lomas, a PriceWaterhouseCoopers\nadministrator for Enron in Europe. ``Our primary focus will be on\nthe large physical assets and trading position of the group.''\n\n     Traders and analysts have speculated that Enron Metals would\nbe sold since Dynegy Inc. agreed earlier this month to buy Enron\nCorp. for $23 billion. After that accord collapsed yesterday, the\nmetals unit seemed slated for a sale, analysts said.\n\n     Enron agreed to buy the business, formerly MG Plc, for $445\nmillion in May of last year. MG itself was the metals-trading unit\nof Germany's Metallgesellschaft AG and a century-old operation\nupon which that German construction, engineering and trading\ncompany was built.\n\n     It is one of just 11 floor traders on the London Metal", "clipped": true, "phrase": "Traders and analysts have speculated that Enron Metals would\nbe sold since Dynegy Inc. agreed earlier this month to buy Enron\nCorp. for $23 billion.", "path": "kitchen-l/_americas/sec_media/7."}, "s1457": {"from": "john.ambler@enron.com", "to": "louise.kitchen@enron.com, greg.whalley@enron.com", "subject": "Proposed Employee Letter on Retention Payments", "text": "Louise,\n\nAttached is the draft letter that Mark Palmer discussed with you.  Your review and comments, particularly related to the second paragraph on the Dynegy bonuses, would be appreciated.\n\nThanks,\n\nJohn", "clipped": false, "phrase": "Your review and comments, particularly related to the second paragraph on the Dynegy bonuses, would be appreciated.", "path": "kitchen-l/_americas/esvl/339."}, "s1479": {"from": "legal <.hall@enron.com>", "to": "susan.amador@enron.com, john.anderson@enron.com, victor.bulbes@enron.com,   \tfran.chang@enron.com, jill.chatterton@enron.com,   \tsean.crandall@enron.com, diane.cutsforth@enron.com,   \tjeff.dasovich@enron.com, craig.dean@enron.com,   \theathe", "subject": "Can UBS Tame Enron's Wild Traders?", "text": "Daily Briefing: NEWS ANALYSIS \nBy Emily Thornton in New York, David Fairlamb in Zurich, and Stephanie Anderson Forest in Dallas \nBack in November, Dynegy (NYSE:DYN <http://finance.yahoo.com/q?s=dyn&d=t> - news <http://biz.yahoo.com/n/d/dyn.html>) had what sounded like a great idea: Buy Enron's flagship trading business in natural gas and electricity, and immediately become the dominant force in those markets. Dynegy fled when Enron started to collapse under an avalanche of scandal. Now, Zurich [Switzerland]-based UBS Warburg (NYSE:UBS <http://finance.yahoo.com/q?s=ubs&d=t> - news <http://biz.yahoo.com/n/u/ubs.html>) is making the same bet, albeit for a lot less money.", "clipped": true, "phrase": "Buy Enron's flagship trading business in natural gas and electricity, and immediately become the dominant force in those markets. Dynegy fled when Enron started to collapse under an avalanche of scandal.", "path": "williams-w3/inbox/7."}, "s1481": {"from": "legal <.hall@enron.com>", "to": "susan.amador@enron.com, john.anderson@enron.com, victor.bulbes@enron.com,   \tfran.chang@enron.com, jill.chatterton@enron.com,   \tsean.crandall@enron.com, diane.cutsforth@enron.com,   \tjeff.dasovich@enron.com, craig.dean@enron.com,   \theathe", "subject": "Can UBS Tame Enron's Wild Traders?", "text": "natural gas and electricity, and immediately become the dominant force in those markets. Dynegy fled when Enron started to collapse under an avalanche of scandal. Now, Zurich [Switzerland]-based UBS Warburg (NYSE:UBS <http://finance.yahoo.com/q?s=ubs&d=t> - news <http://biz.yahoo.com/n/u/ubs.html>) is making the same bet, albeit for a lot less money. \nThe question now: Will the conservative bank be able to impose Swiss order on the rogue Texas company's traders? On one level, the deal doesn't seem completely farfetched. Enron's gas and electricity trading actually seems to have made money. Other bankers who checked it out estimate the trading operations racked up $3 billion in pretax profits over the past two years [see BW, 2/11/02, ``Enron: How Good an Energy Trader?''].", "clipped": true, "phrase": "is making the same bet, albeit for a lot less money.", "path": "williams-w3/inbox/7."}, "s141": {"from": "ann.schmidt@enron.com", "to": "mark.palmer@enron.com, karen.denne@enron.com, meredith.philipp@enron.com,   \tsteven.kean@enron.com, elizabeth.linnell@enron.com,   \teric.thode@enron.com, laura.schwartz@enron.com,   \tjeannie.mandelker@enron.com, mary.clark@enron.com,   \tdam", "subject": "Juiced - ComputerWorld", "text": "energy analyst at A.G. Edwards & Sons Inc. in St. Louis. \"Enron rolled out \nits technology 10 months ago, and still there isn't much else out there. \nThere hasn't been much competition [because] there isn't anybody in the same \nclass.\" \nBut just last month, Houston-based Dynegy Inc. launched Dynegydirect, an \nInternet-based, commission-free trading site for energy and communications \ncommodities. \nAlso last month, IntercontinentalExchange in Atlanta, whose partners include \nBP Amoco and The Hague-based Royal Dutch/Shell Group, added natural gas and \npower to its online trading system, which already included precious metals \nand crude oil. \nSkilling doesn't get called \"nuts\" much anymore. In fact, he's a darling on", "clipped": true, "phrase": "But just last month, Houston-based Dynegy Inc. launched Dynegydirect, an", "path": "kean-s/all_documents/1991."}, "s186": {"from": "mark.koenig@enron.com", "to": "steven.kean@enron.com", "subject": "SQUEEZING BLOOD FROM A STONE: SEEKING CLARITY IN THE CALIF. CR...   (Part 1 of 2)", "text": "Company          SYM Rating Target Price  EST  P/E  EST PEG\n                 M\nEnergy Merchants\nEnron Corp.#     ENE 1H     $100   79.88  1.98 40.3 20% 2.0\nDuke Energy #    DUK 2M     $95    82.75  5.10 16.2 10% 1.6\nEl Paso Energy#  EPG 1H     $80    70.25  3.70 19.0 15% 1.3\nDynegy Inc.#     DYN 1H     $70    51.31  2.25 22.8 20% 1.1\n\nPower Producers\nSouthern Energy# SOE 1H     $37    27.94  1.35 20.7 25% 0.8\nCalpine Corp.#   CPN 1H     $60    41.75  1.58 26.4 35% 0.8\nAES Corp.#       AES 1H     $85    51.75  2.50 20.7 30% 0.7\nNRG Energy#      NR  1H     $40    27.56  1.70 16.2 25% 0.6\n#  Within the past three years, Salomon Smith Barney, including its parent,\nsubsidiaries and/or affiliates, has acted as manager or co-manager of a public\noffering of this company.", "clipped": true, "phrase": "Dynegy Inc.#     DYN 1H     $70    51.31  2.25 22.8 20% 1.1", "path": "kean-s/all_documents/6407."}, "s195": {"from": "mark.koenig@enron.com", "to": "steven.kean@enron.com", "subject": "UPDATE OF CALIFORNIA CRISIS AND BRIEF NOTES ON DUKE ENERGY   CONFERENCE CALL", "text": "plant seizures and retroactive penalties appear unlikely.\n5)   We estimate DUK's annual financial exposure, net of forward sales, is \nless\nthan $0.04 per share annually.\n\nStocks mentioned in this note include:  Duke Energy (DUK-65 7/8; rated\nAccumulate); Dynegy (DYN-39 ?; rated Accumulate); Edison International (EIX-10\nr; not rated); Enron Corp. (ENE-69 7/16; rated Strong Buy); PG&E Corp. (PCG-12\n5/16; rated Sell); Reliant Energy (REI-32 7/16; rated Hold).\n\nPrudential Securities Incorporated (or one of its affiliates or subsidiaries) \nor\nits officers, directors, analysts, employees, agents, independent contractors,\nor consultants may have positions in securities or commodities referred to", "clipped": true, "phrase": "Dynegy (DYN-39 ?; rated Accumulate)", "path": "kean-s/all_documents/6319."}, "s196": {"from": "mark.koenig@enron.com", "to": "steven.kean@enron.com", "subject": "UPDATE OF CALIFORNIA CRISIS AND BRIEF NOTES ON DUKE ENERGY   CONFERENCE CALL", "text": "until a more longer-term solution is decided upon.  However, the lowest risk \nis\nlikely in the cheapest stocks, and DUK may be the best bet over the week or \nso.\nStill, DYN in the mid-$30s and ENE in the mid-$60s are also attractive, in our\nview.\n11)  We expect DYN, DUK, ENE and REI to all report positive 4Q01 earnings\nsurprises of at least a penny or so, but to the extent that the surprise is\nrelated to power generation, the stocks may not react favorably.\n\nWhat we think will solve the California problem:\n1)   Eliminate all retail rate freezes, and let the market forces balance \nsupply\nand demand.  Higher electricity prices to the consumer will encourage less use\nand the purchase of more efficient energy equipment, and will also encourage", "clipped": true, "phrase": "We expect DYN, DUK, ENE and REI to all report positive 4Q01 earnings", "path": "kean-s/all_documents/6319."}, "s216": {"from": "ray.niles@ssmb.com", "to": "", "subject": "CORRECTION-- CONFERENCE CALL ON TUESDAY, FEBRUARY 13 (800-229-028  \t1)", "text": "Our volatility indices demonstrate a dramatic shift in historical volatility\nto the western hubs and away from the Midwestern markets of 1998-99.  We\nexpect volatility to persist in the West, likely accompanied by higher\nvolatility in the remainder of the country in 2001.  This benefits Energy\nMerchants, and we highlight Enron, Dynegy, Duke, and El Paso.\n\nDial In\n800-229-XXXX US\n706-645-XXXX Intl\n\nReplay\n800-642-XXXX US\n706-645-XXXX Intl\nReservation 735670 (replay until 2/15)\n\nhosted by:\n\nRaymond Niles\nDirector\nPower & Natural Gas Research\nSalomon Smith Barney\n212-816-XXXX\n\nRaymond C. Niles\nPower/Natural Gas Research\nSalomon Smith Barney\n(212) 816-XXXX\nray.niles@ssmb.com\n\ns", "clipped": true, "phrase": "This benefits Energy\nMerchants, and we highlight Enron, Dynegy, Duke, and El Paso.", "path": "kitchen-l/_americas/regulatory/237."}, "s233": {"from": "james.steffes@enron.com", "to": "alan.comnes@enron.com, bhansen@lhom.com, harry.kingerski@enron.com,   \thgovenar@govadv.com, janel.guerrero@enron.com, jbennett@gmssr.com,   \tjeff.dasovich@enron.com, jkradin@marathon-com.com,   \tjoe.hartsoe@enron.com, john.neslage@enron.com", "subject": "Wall Street's Opinions on Transmission Deal in CA", "text": "I am forwarding some Wall Street comments from Kathryn Corbally related to \nthe Transmission buyout.  \n\nLooks like they view it as very favorable - not a major hit against EPS tied \nto full recovery of remaining undercollection.  \n\nNot sure yet if they incorporate the going forward - maybe SCE doesn't want \nany merchant obligations?\n\nJim\n\n----- Forwarded by James D Steffes/NA/Enron on 02/27/2001 08:18 AM -----\n\n\tKathryn Corbally\n\t02/26/2001 04:47 PM\n\t\t \n\t\t To: James D Steffes/NA/Enron@Enron\n\t\t cc: \n\t\t Subject: CaliforniA\n\nJim, Have sent you three notes that show some level of support to activity in \nCalifornia  \n- its probably a little bias since there are a few reports out there that say \nquote the 'devil is in the details' and quote \n'the odds of bankruptcty remain in the 50% range.' \n\nNote1\n09:42am EST 26-Feb-01 ABN AMRO Inc. (Ford,Daniel F. 212/258-XXXX) CPN DYN EIX \nOne Down Two to", "clipped": true, "phrase": "maintain our Buy ratings on Edison International and PG&amp;E Corp as well as \n   on the generation companies: Calpine and Dynegy.", "path": "kean-s/all_documents/5763."}, "s234": {"from": "steven.kean@enron.com", "to": "bernadette.hawkins@enron.com", "subject": "Wall Street's Opinions on Transmission Deal in CA", "text": "----- Forwarded by Steven J Kean/NA/Enron on 02/28/2001 02:09 PM -----\n\n\tJames D Steffes\n\t02/27/2001 08:21 AM\n\t\t \n\t\t To: Alan Comnes/PDX/ECT@ECT, bhansen@lhom.com, Harry \nKingerski/NA/Enron@Enron, hgovenar@govadv.com, Janel \nGuerrero/Corp/Enron@Enron, JBennett@GMSSR.com, Jeff Dasovich/NA/Enron@Enron, \njkradin@marathon-com.com, Joe Hartsoe/Corp/Enron@ENRON, John \nNeslage/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Karen Denne/Corp/Enron@ENRON, \nLinda Robertson/NA/Enron@ENRON, Mark Palmer/Corp/Enron@ENRON, Mary \nHain/HOU/ECT@ECT, mday@gmssr.com, Paul Kaufman/PDX/ECT@ECT, \nrcarroll@bracepatt.com, rlichtenstein@marathon-com.com, Richard \nShapiro/NA/Enron@Enron, Sandra McCubbin/NA/Enron@Enron, \nsyamane@marathon-com.com, SGovenar@govadv.com, Steven J Kean/NA/Enron@Enron, \nSusan J Mara/NA/Enron, Michael Tribolet/ENRON@enronXgate\n\t\t cc: Kathryn Corbally/Corp/Enron@ENRON\n\t\t Subject: Wall Street's Opinio", "clipped": true, "phrase": "maintain our Buy ratings on Edison International and PG&amp;E Corp as well as \n   on the generation companies: Calpine and Dynegy.", "path": "kean-s/all_documents/5734."}, "s434": {"from": "henry.means@enron.com", "to": "", "subject": "Enron Mentions - 05/03/01", "text": "Dynegy is now developing a 20,000-mile fiber-optic cable network in the U.S. \nthat it will link to Iaxis' network in Europe. It hopes its broadband unit, \nwhich lost $11.6 million in the first quarter, will be profitable by the \nsecond half of 2002. \nStill, Dynegy has differentiated itself as the \"anti-Enron\" because, among \nother things, it continues to buy power plants rather than sell them. (Enron, \nmeanwhile, has been trying to dump its hard assets, such as Portland General \nElectric in Portland, Ore.) \nEnron CEO Jeff Skilling -- a polished former McKinsey & Co. consultant -- \njust wants to be a go-between, and not just in energy, but in broadband, pulp \nand paper and metals, while Dynegy's Watson -- a scrappy former commodities", "clipped": true, "phrase": "Still, Dynegy has differentiated itself as the \"anti-Enron\" because, among", "path": "kean-s/all_documents/5039."}, "s542": {"from": "b..sanders@enron.com", "to": "paul.simons@enron.com", "subject": "RE: Potential dispute with Dynegy", "text": "We have not had any disputes in my 3.5 years and none that I am aware of in the past.\n\n -----Original Message-----\nFrom: \tSimons, Paul  \nSent:\tWednesday, July 18, 2001 5:14 AM\nTo:\tHaedicke, Mark E.; Sanders, Richard B.\nCc:\tLewis, Richard; Hastings, Simon\nSubject:\tPotential dispute with Dynegy\nImportance:\tHigh\n\nMark/Richard\n\nWe are looking at a possible dispute with Dynegy in relation a UK electricity trading contract.", "clipped": true, "phrase": "We have not had any disputes in my 3.5 years and none that I am aware of in the past.", "path": "sanders-r/sent_items/311."}, "s555": {"from": "ricardo.charvel@enron.com", "to": "j..kean@enron.com", "subject": "FW: Comments Compilation for analyst and associate program", "text": "could at best be described as socialistic, and below market.  In a labor market where intellectual capital is portable and our chief competitors have seen our competitive advantage in the form of this asset, I can only believe that Enron is positioning itself to fall short in the years to come when J. Aron, Morgan Stanley, Dynegy, El Paso, etc. decide that the cheapest way to gain ground on Enron is to higher this intellectual capital.  Without griping, I feel if nothing else, workers at Enron would like to be paid market rate for the talents we possess.  In our \"sales pitch\" we are told that Enron benchmarks pay against our energy competitors as well as comparable jobs on Wall Street.  I can say from experience that our compensation packages cannot hold a candle to the potential for a Wall Street style pay package, which leaves me bitter that the sales pitch was shallow, fel", "clipped": true, "phrase": "J. Aron, Morgan Stanley, Dynegy, El Paso, etc. decide that the cheapest way to gain ground on Enron is to higher this intellectual capital", "path": "kean-s/analyst_associate_program/4."}, "s556": {"from": "j..kean@enron.com", "to": "ricardo.charvel@enron.com", "subject": "RE: Comments Compilation for analyst and associate program", "text": "could at best be described as socialistic, and below market.  In a labor market where intellectual capital is portable and our chief competitors have seen our competitive advantage in the form of this asset, I can only believe that Enron is positioning itself to fall short in the years to come when J. Aron, Morgan Stanley, Dynegy, El Paso, etc. decide that the cheapest way to gain ground on Enron is to higher this intellectual capital.  Without griping, I feel if nothing else, workers at Enron would like to be paid market rate for the talents we possess.  In our \"sales pitch\" we are told that Enron benchmarks pay against our energy competitors as well as comparable jobs on Wall Street.  I can say from experience that our compensation packages cannot hold a candle to the potential for a Wall Street style pay package, which leaves me bitter that the sales pitch was shallow, fel", "clipped": true, "phrase": "J. Aron, Morgan Stanley, Dynegy, El Paso, etc. decide that the cheapest way to gain ground on Enron is to higher this intellectual capital", "path": "kean-s/sent_items/281."}, "s560": {"from": "rahil.jafry@enron.com", "to": "louise.kitchen@enron.com, kal.shah@enron.com", "subject": "Top Marketer Volumes Still Showing Tremendous Growth, NGI Says", "text": "BP's second-place volumes, at 12.3 Bcf/d were only half of Enron's 25.3\nBcf/d. Mirant came in third with a 4.1 Bcf/d rise (53%)to 11.8 Bcf/d. Although\nEl Paso posted 51% volume growth (3.1 Bcf/d), it was pushed down by several\nother rapidly growing companies to the 9th place from No. 2. \n\n  Filling in the top 10 were Reliant in fourth place, Duke in fifth, Dynegy\nsixth, Aquila seventh and Sempra eighth, according to NGI's tally. \n\n  \"Volumes aren't perfect, but they are the best and most clear thing that we\nhave in terms of gauging the size of these business,\" Credit Suisse First\nBoston Analyst Curt Launer told Natural Gas Intelligence. \"That growth you are\nseeing is going to continue. This is an industry which really is only reaching", "clipped": true, "phrase": "Filling in the top 10 were Reliant in fourth place, Duke in fifth, Dynegy", "path": "kitchen-l/_americas/press/21."}, "s557": {"from": "maureen.mcvicker@enron.com", "to": "maureen.mcvicker@enron.com", "subject": "FW: Enron Mentions", "text": "In the city's energy alley, Enron Corp. -- with annual sales of more than $100 billion last year, double those of Texaco -- is finishing a new 40-floor office building adjacent to its 50-story tower. Enron's competitors, Dynegy Inc., Reliant Energy and El Paso Energy, are a few blocks away. Duke Energy North American, merchant arm of Charlotte-based Duke Power, has settled in as well. And Calpine Corp. plans to take over 12 floors of a new 32-story building near Enron.", "clipped": true, "phrase": "Enron's competitors, Dynegy Inc., Reliant Energy and El Paso Energy, are a few blocks away.", "path": "kean-s/inbox/enron_mentions/6."}, "s558": {"from": "maureen.mcvicker@enron.com", "to": "maureen.mcvicker@enron.com", "subject": "FW: Enron Mentions", "text": "Then he waited to find out whether the offer was accepted. If it was, he would go online to book a transmission route. If not, he would unload the power on another trader in the over-the-counter market, made up of merchant companies such as Enron Corp., Dynegy Inc., Duke Energy North America, Reliant Energy, El Paso Merchant Group, Calpine Corp. and Entergy-Koch Power Marketing. \nTraders like the Northeast because it allows one-stop shopping. \"If I want to wheel power from Maine through Massachusetts to Connecticut, I pay just one transmission charge rather than having to call each utility and schedule it,\" said Michael Hobbs, Mirant's marketing director for the northeastern United States.", "clipped": true, "phrase": "made up of merchant companies such as Enron Corp., Dynegy Inc., Duke Energy North America, Reliant Energy, El Paso Merchant Group, Calpine Corp. and Entergy-Koch Power Marketing", "path": "kean-s/inbox/enron_mentions/6."}, "s594": {"from": "rahil.jafry@enron.com", "to": "louise.kitchen@enron.com", "subject": "Fw: Rahil Jafry: USA:   UPDATE 4-Dynegy hits upper end of Q3   earnings targets.", "text": "assets supports earnings sustainability,\" Chairman and Chief Executive Officer\nChuck Watson said in a statement.\n\n\"I would say the company's ability to continuously post strong earnings growth\nillustrates their ability to successfully navigate through wildly various\noperating environments,\" UBS Warburg analyst Jay Yannello said. \"This company\nhas rapidly emerged as the leading player in its field.\"\n\nWhile stocks in its sector have been hammered sharply over the past six\nmonths, Dynegy has been a better performer than similar companies. Dynegy's\nstock this year has fallen some 15 percent, outperforming the Standard &\nPoor's utilities index, which has lost 21 percent.\n\nDespite the strong earnings growth, shares of Dynegy were down $1.02, or 2.34\npercent, to $42.63 in Monday afternoon trading. Analysts cited rumors that the", "clipped": true, "phrase": "UBS Warburg analyst Jay Yannello said. \"This company\nhas rapidly emerged as the leading player in its field.\"", "path": "kitchen-l/_americas/east_power/32."}, "s669": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions", "text": "birth to a multibillion-dollar new industry, with Houston as its hub. Even while it competed hard to win in the marketplace, Enron's example helped show other natural gas pipeline and trading firms how to move into the even bigger market of electricity. The downtown concentration of these firms -- industry leaders including Reliant, Dynegy, El Paso and Duke Energy -- led London's Financial Times to refer to Louisiana Street as the Wall Street of electricity.", "clipped": true, "phrase": "industry leaders including Reliant, Dynegy, El Paso and Duke Energy -- led London's Financial Times to refer to Louisiana Street as the Wall Street of electricity.", "path": "kean-s/inbox/55."}, "s673": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "El Paso's stock has fallen a relatively modest 5 percent over the last two weeks and analysts attribute this in large part to the fact that marketing and trading operations generate only about one quarter of the company's earnings. \nDynegy's stock is down some 17 percent over the last two weeks and analysts said this was linked to Dynegy's assumption of a leadership role among U.S. energy marketers in many investors' eyes as Enron began to fall out of favor and as Dynegy attained a correspondingly high price-earnings ratio. \nAsked about Dynegy's use of off-balance-sheet financing, spokesman John Sousa drew a contrast between his own company and Enron, saying Dynegy had no financing that was backed by issuance of stock, nor any \"related party transactions\". \nFORMER HIGH-FLIERS SHUNNED", "clipped": true, "phrase": "Dynegy's stock is down some 17 percent over the last two weeks and analysts said this was linked to Dynegy's assumption of a leadership role among U.S. energy marketers", "path": "kitchen-l/_americas/sec_media/59."}, "s680": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "Few competitors want to see Enron exit the trading markets, however, since it provides so much liquidity to the markets, and fewer expect that to happen. \nMany of Enron's energy rivals, including Dynegy, Aquila and Duke Energy, are also trading partners, or counterparties to Enron. As such they may be closely tied to Enron's fate in the short term. \nThe biggest near-term threat is if there is another change in Enron's credit status. \nThis week Moody's Investors Service downgraded Enron to two notches above junk status. Further reductions are, for the moment, the main worry among its rivals and trading partners, although Enron debt remains at investment-grade levels.", "clipped": true, "phrase": "Many of Enron's energy rivals, including Dynegy, Aquila and Duke Energy, are also trading partners, or counterparties to Enron.", "path": "kitchen-l/_americas/sec_media/55."}, "s755": {"from": "chairman.ken@enron.com", "to": "dl-ga-all_enron_worldwide2@enron.com", "subject": "Enron Announces Plans to Merge with Dynegy", "text": "Today, we announced plans to merge with Dynegy, a major player in the energy marketplace and one of our largest counterparties.  Dynegy is a great company with businesses very similar to our own.  We believe merging with Dynegy is the best option to preserve our core businesses that you've worked so hard to build.  Following are the major components of the transaction.\n\nDeal Terms", "clipped": true, "phrase": "we announced plans to merge with Dynegy, a major player in the energy marketplace and one of our largest counterparties.", "path": "mann-k/inbox/278."}, "s683": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "Dynegy long has been regarded as an Enron \"wannabe,\" because it has a history of following moves that Enron has made. After Enron purchased the Portland General Electric utility in 1997, Dynegy made a successful bid to buy Illinova Corp. which it acquired in February 2000. After Enron launched its successful Internet-based commodities trading platform, EnronOnline, in November 1999, Dynegy developed its rival DynegyDirect platform.", "clipped": true, "phrase": "Dynegy long has been regarded as an Enron \"wannabe,\" because it has a history of following moves that Enron has made.", "path": "kitchen-l/_americas/sec_media/49."}, "s685": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "The two companies, with headquarters in downtown Houston, are seen as die-hard rivals. That could make it difficult for Mr. Lay to accept any overture from Dynegy Chairman Chuck Watson. Dynegy's largest single investor is ChevronTexaco Corp., of San Francisco, which has profited handsomely from a 28% equity stake in Dynegy. \nAn overture from Coral Energy, Royal Dutch Shell's marketing and trading unit, might receive a more receptive response from Enron, some onlookers say.", "clipped": true, "phrase": "That could make it difficult for Mr. Lay to accept any overture from Dynegy Chairman Chuck Watson.", "path": "kitchen-l/_americas/sec_media/49."}, "s698": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions", "text": "infusion. The Wall Street Journal reported Wednesday afternoon on Dow Jones Newswires that Dynegy Inc. (DYN) was in advanced talks to infuse that amount into Enron in a deal that could lead to an acquisition. Enron stock rebounded from its $7 a share low on the report and was off but 5% at $9.20. (Dynegy investors clearly aren't happy about a prospective deal - they knocked the stock down 8%, in part over worries about what Dynegy could be getting itself into.) \nFor an indication of how severely Wall Street views the situation, you need to look no further than the derivatives market itself, where the cost of protecting the business you have done with Enron is skyrocketing and money is being demanded up front.", "clipped": true, "phrase": "Dynegy investors clearly aren't happy about a prospective deal - they knocked the stock down 8%, in part over worries about what Dynegy could be getting itself into.", "path": "kitchen-l/_americas/sec_media/45."}, "s702": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions", "text": "proposed transaction, the people said. Dynegy and Enron, rival\nHouston energy trading firms, haven't agreed on a price, the\npeople said. Dynegy is proposing a stock swap with a modest\npremium while Enron is holding out for more, the people said.\n\n     ``If history is any guide, Dynegy is stingy when it comes to\nacquisitions, so I don't expect them to do anything stupid'' such\nas overpaying for Enron, said UBS Warburg LLC analyst James\nYanello. ``A deal could provide Dynegy with tremendous\nopportunity.''\n\n     Dynegy would gain an established wholesale energy business,\nthe leading energy manager for commercial and small-industrial\ncustomers, and the largest Internet energy trading operation, many\ntimes larger than Dynegy's, he said. Yanello rates Dynegy ``strong\nbuy'' and doesn't own shares of either company.", "clipped": true, "phrase": "``If history is any guide, Dynegy is stingy when it comes to\nacquisitions, so I don't expect them to do anything stupid''", "path": "kitchen-l/_americas/sec_media/45."}, "s714": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "\"If they make an offer, they will be making an offer in order to get a steal,\" said Mr. Selch, who says Enron's core energy-trading business is being valued at about half the normal market valuation of these operations. \"I think they will be acquiring a business that will launch them into the No. 1 market-share position in energy trading,\" Mr. Selch added.", "clipped": true, "phrase": "\"If they make an offer, they will be making an offer in order to get a steal,\" said Mr. Selch", "path": "kitchen-l/_americas/sec_media/44."}, "s728": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions", "text": "\"It just got too scary to hold,\" he said. \nStill, Hilton, who owns shares of Dynegy as well, isn't concerned about the possibility of a merger of the two Houston energy traders. \n\"It's David taking Goliath,\" he said, adding that he is convinced that Dynegy's management will not enter into a transaction that will threaten the company's stability. \nSeveral Dynegy investors echoed Hilton's sentiment with their own expressions of confidence in Dynegy's management. However, at times these convictions were almost betrayed by a nervousness brought on by the sense that what one doesn't know could be hurtful. \nSome investors remain concerned by Dynegy's motivation. \nAccording to Hilton, investors don't know what would happen to the market - and as a result, to Dynegy - if Enron fails.", "clipped": true, "phrase": "he is convinced that Dynegy's management will not enter into a transaction that will threaten the company's stability", "path": "kitchen-l/_americas/sec_media/43."}, "s692": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "along with the acquisition of Illnova, completed in 2000. \n  While many potential acquirers have shied away from Enron due to continued\nconcern about unknown liabilities the company may have, Dynegy is very familiar\nwith its energy trading business. \n\n  Dynegy is the number two player in the U.S. energy trading market and would\nclearly become the dominant player were it to merge with or acquire Enron. A\nDynegy spokesman declined comment. \n\n  While Dynegy has off-balance sheet financings that are similar to Enron's,\nthose financings are not guaranteed by the parent. \n  It is such guarantees that have concerned Enron investors along with a series\nof questionable investments. \n\n  Given the massive decline in Enron's stock price, Dynegy now has a market\nvalue that is twice that of Enron.", "clipped": true, "phrase": "Dynegy is the number two player in the U.S. energy trading market and would\nclearly become the dominant player were it to merge with or acquire Enron.", "path": "kitchen-l/_americas/sec_media/46."}, "s694": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "Dynegy spokesman declined comment. \n\n  While Dynegy has off-balance sheet financings that are similar to Enron's,\nthose financings are not guaranteed by the parent. \n  It is such guarantees that have concerned Enron investors along with a series\nof questionable investments. \n\n  Given the massive decline in Enron's stock price, Dynegy now has a market\nvalue that is twice that of Enron. \n\n  That decline in Enron's stock price would make any equity infusion heavily\ndilutive, if private equity firms were to choose to invest in Enron they would\nlikely do so in the form of a security that converted to equity and paid a\ndividend. \n\n  Still, because Enron now has a market value of only $5.3 billion, the roughly\n$2 billion it may want represents an enormous percentage of its overall equity\nvalue.", "clipped": true, "phrase": "Given the massive decline in Enron's stock price, Dynegy now has a market\nvalue that is twice that of Enron.", "path": "kitchen-l/_americas/sec_media/46."}, "s697": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "'Not business as usual'\n\n\"With these downgrades, it's not business as usual,\" the energy trader said. \"We're already in the process of losing a counterparty that contributed a good deal of liquidity to the energy-trading market.\"\n\nThe trader cited Calpine (CPN: news, chart, profile), Dynegy (DYN: news, chart, profile), and El Paso Energy (EPG: news, chart, profile) as energy traders that have a chance to gain market share, but he conceded that Enron won't be replaced overnight, should it cease to exist.\n\n\"Energy trading won't be destroyed at all,\" the trader said. \"It will certainly be diminished but not gone.\"\n\nWhat Enron's absence would do is make it more difficult for lesser creditworthy companies to participate in the market. Exchanges such as the New York Mercantile Exchange and the Intercontinental Exchange may gain a higher profile.", "clipped": true, "phrase": "The trader cited Calpine (CPN: news, chart, profile), Dynegy (DYN: news, chart, profile), and El Paso Energy (EPG: news, chart, profile) as energy traders that have a chance to gain market share", "path": "kitchen-l/_americas/sec_media/46."}, "s703": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions", "text": "the leading energy manager for commercial and small-industrial\ncustomers, and the largest Internet energy trading operation, many\ntimes larger than Dynegy's, he said. Yanello rates Dynegy ``strong\nbuy'' and doesn't own shares of either company.\n\n     Shares of Dynegy, the fifth-largest U.S. natural gas\nmarketer, fell $3 to $33. Enron, whose stock has plunged 89\npercent this year, fell 62 cents to $9.05 in trading of 111\nmillion shares, almost eight times the daily average for the past\nthree months. ChevronTexaco shares rose 48 cents to $87.28.\n\n     The companies agreed on a breakup fee providing Dynegy with\nabout $400 million if Enron accepts a higher offer, one person\nsaid.\n\n                         Partnership Probe", "clipped": true, "phrase": "Shares of Dynegy, the fifth-largest U.S. natural gas\nmarketer", "path": "kitchen-l/_americas/sec_media/45."}, "s715": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "Enron has always concentrated on sophisticated financial trading strategies, a senior executive at a rival energy-trading firm, said. ''Dynegy has always been more of a logistical player of physical assets,'' he said. ''Those are very different cultures and very different mentalities.'' The executive noted that there had been an immense talent drain from Enron in the last two weeks. ''It has become a frenzy,'' he said.\n\nCopyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved.", "clipped": true, "phrase": "''Dynegy has always been more of a logistical player of physical assets,'' he said.", "path": "kitchen-l/_americas/sec_media/44."}, "s724": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions", "text": "Financially wounded Enron is the nation's largest electricity and natural gas trader with an extensive network of gas pipelines. \nDynegy is ranked sixth nationally in both electricity and natural gas marketing. \nThe transaction would receive the greatest scrutiny at FERC, where the merger application would challenge the commission's merger-review policy, attorneys said.\n\nCopyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved. \t\n\nUS Physical Gas Prices Mostly Down; No Demand\n\n11/08/2001\nDow Jones Energy Service\n(Copyright (c) 2001, Dow Jones & Company, Inc.)", "clipped": true, "phrase": "Dynegy is ranked sixth nationally in both electricity and natural gas marketing.", "path": "kitchen-l/_americas/sec_media/43."}, "s727": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions", "text": "The stock swap is valued at about $8 billion, or about $10 a share, The New York Times reported on Thursday. \nA merger would catapult Dynegy to the top of the energy trading industry now dominated by Enron. Last year, the company had $29 billion in revenues, compared to $100 billion for Enron. \nFor Enron, it would cap an astonishingly rapid fall from grace. \nEnron stock has lost $19 billion in market value since its crisis began in mid-October and was down another 45 cents to $8.60 in Thursday trading. Dynegy shares rose $3.87 to $36.87. \nEnron restated its earnings going back to 1997, saying its auditors advised that the off-the-balance sheet deals in question should have been included in the company's financial statements.", "clipped": true, "phrase": "A merger would catapult Dynegy to the top of the energy trading industry now dominated by Enron. Last year, the company had $29 billion in revenues, compared to $100 billion for Enron.", "path": "kitchen-l/_americas/sec_media/43."}, "s751": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions", "text": "Is this a case of average investors approving Dynegy's \"steal\" of formerly formidable Enron? Or were Wall Street banks, holding a lot of Enron debt, trying to encourage Dynegy to do a deal? About 75% of the 12 million Dynegy shares bought Thursday were purchased in a few hundred large blocks.", "clipped": true, "phrase": "About 75% of the 12 million Dynegy shares bought Thursday were purchased in a few hundred large blocks.", "path": "kitchen-l/_americas/sec_media/41."}, "s752": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions", "text": "By Janet Whitman\nOf DOW JONES NEWSWIRES\n\n11/09/2001\nDow Jones News Service\n(Copyright (c) 2001, Dow Jones & Company, Inc.)\nNEW YORK -(Dow Jones)- It's been a brutal year in the risk arbitrage business, and that has many arbitrageurs, also known as takeover traders, steering clear of bets on Dynergy Inc.'s (DYN) possible takeover of Enron Corp. (ENE). \nSome of their reluctance stems from the fact that the looming deal reported by Dow Jones Newswires has yet to be confirmed by the two Houston energy trading companies.\nMore worrisome, however, is the possibility that Enron - already crippled by an equity probe and a restatement of four years of earnings - may have even deeper woes to report.", "clipped": true, "phrase": "steering clear of bets on Dynergy Inc.'s (DYN) possible takeover of Enron Corp. (ENE).", "path": "kitchen-l/_americas/sec_media/41."}, "s772": {"from": "karen.denne@enron.com", "to": "kenneth.lay@enron.com, mark.frevert@enron.com, jeffrey.mcmahon@enron.com,   \trick.buy@enron.com, richard.causey@enron.com,   \tjames.derrick@enron.com, j..kean@enron.com, mark.koenig@enron.com,   \twes.colwell@enron.com, paula.rieker@enron.co", "subject": "Merger News Articles", "text": "''On paper, it works,'' Ms. Coale of Prudential said. ''The combined company would be the leading trader, the market leader in most of their businesses.'' Ms. Coale, who has a sell rating on Enron and a buy rating on Dynegy, said she planned to keep her buy rating on Dynegy. \n\nAs it works to have the deal approved, Dynegy will have to persuade Enron's traders to stay with the combined company. The pain of the stock's 90 percent plunge this year will not be equally shared. Some Enron employees have held onto their shares and seen their retirement accounts eviscerated. Meanwhile, Mr. Lay, Mr. Skilling and other former and current executives sold hundreds of millions of dollars in Enron stock in 2000 and this year.", "clipped": true, "phrase": "who has a sell rating on Enron and a buy rating on Dynegy, said she planned to keep her buy rating on Dynegy.", "path": "kitchen-l/_americas/sec/19."}, "s791": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions - 11/09/01-11/10/01", "text": "''On paper, it works,'' Ms. Coale of Prudential said. ''The combined company would be the leading trader, the market leader in most of their businesses.'' Ms. Coale, who has a sell rating on Enron and a buy rating on Dynegy, said she planned to keep her buy rating on Dynegy. \nAs it works to have the deal approved, Dynegy will have to persuade Enron's traders to stay with the combined company. The pain of the stock's 90 percent plunge this year will not be equally shared. Some Enron employees have held onto their shares and seen their retirement accounts eviscerated. Meanwhile, Mr. Lay, Mr. Skilling and other former and current executives sold hundreds of millions of dollars in Enron stock in 2000 and this year.", "clipped": true, "phrase": "Ms. Coale, who has a sell rating on Enron and a buy rating on Dynegy, said she planned to keep her buy rating on Dynegy.", "path": "kitchen-l/_americas/sec_media/40."}, "s805": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions - 11/11/01", "text": "its finances caught up to it last month, when investors fled after disclosure of an S.E.C. probe and an unusual $1.2 billion reduction in shareholder equity. After it admitted overstating profits by $600 million, other energy companies began to shun Enron, putting its trading business in jeopardy. Finally, a humbled Enron, out of options, threw itself into the arms of Dynegy, its much smaller crosstown rival. Richard A. Oppel Jr.\n\nCopyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved. \t\n\nMoney and Business/Financial Desk; Section 3\nDataBank\nDow Breaks Through Pre-Attack Level\nBy MICHAEL BRICK\n\n11/11/2001\nThe New York Times\nPage 15, Column 3\nc. 2001 New York Times Company\n\nStocks posted big gains this past week, pushing the Dow Jones industrial average to its highest close since the Sept. 11 attacks.", "clipped": true, "phrase": "Finally, a humbled Enron, out of options, threw itself into the arms of Dynegy, its much smaller crosstown rival.", "path": "kitchen-l/_americas/sec_media/39."}, "s881": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "THE MARKETS\nSuitor for Enron Receives Approval From Wall St.\nBy ALEX BERENSON\n\n11/13/2001\nThe New York Times\nPage 13, Column 1\nc. 2001 New York Times Company\n\nWall Street found nothing but good news in Dynegy's $9 billion takeover of the Enron Corporation yesterday. \nThree days after Dynegy, an energy marketing and trading company based in Houston, agreed to take over Enron, its giant crosstown rival, Dynegy executives came to New York to assure investors that the deal would sharply increase their company's profits. They met a receptive audience.\nDynegy stock closed yesterday at $44.31, up $5.55, or 14.3 percent. Since last Wednesday, when news of a possible takeover emerged, Dynegy's stock has risen more than one-third. Enron closed at $9.24, up 61 cents, or 7.1 percent.", "clipped": true, "phrase": "Dynegy, an energy marketing and trading company based in Houston, agreed to take over Enron, its giant crosstown rival", "path": "kitchen-l/_americas/sec_media/36."}, "s843": {"from": "rahil.jafry@enron.com", "to": "louise.kitchen@enron.com, marcus.nettelton@enron.com", "subject": "FW: Highlights from this morning's ENE/DYN analyst conference call", "text": "In what was termed a \"new approach\", the new entity will be run with a focus on cash flow rather than earnings.  \nRumors that Dynegy did the deal because of an unhedged exposure to Enron are not true.  Dynegy owed Enron <$50MM.  \nLay says that Enron had other options, 'particularly financial'.\nAll of the discussion and activity has taken place over the last two weeks.\nLay 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.\nLay says we have nothing else to hide, but internal investigation still under way.", "clipped": true, "phrase": "Rumors that Dynegy did the deal because of an unhedged exposure to Enron are not true.  Dynegy owed Enron &lt;$50MM.", "path": "kitchen-l/_americas/east_power/12."}, "s809": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions - 11/11/01", "text": "\"It's part of the reason why Enron and Dynegy resonate with the Wall Street gang. They say, `That trading stuff down there is cool.' It's the convergence of highly sophisticated finance and the energy industry.\" \nCurrall said he is delighted that Dynegy is Enron's \"suitor\" because it keeps the people and operations in Houston. \n\"That's great news for Houston,\" he said. \nOthers agreed that the presence of Dynegy in Houston will soften the blow. \nEnron being bought by Dynegy, another Houston firm, is \"like a couple of cousins getting together,\" said Barry Silverman, a marketing and management consultant.", "clipped": true, "phrase": "Currall said he is delighted that Dynegy is Enron's \"suitor\" because it keeps the people and operations in Houston.", "path": "kitchen-l/_americas/sec_media/39."}, "s810": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions - 11/11/01", "text": "Currall said he is delighted that Dynegy is Enron's \"suitor\" because it keeps the people and operations in Houston. \n\"That's great news for Houston,\" he said. \nOthers agreed that the presence of Dynegy in Houston will soften the blow. \nEnron being bought by Dynegy, another Houston firm, is \"like a couple of cousins getting together,\" said Barry Silverman, a marketing and management consultant. \n\"In a sense, there is no loss for Houston,\" said David Crossley, president of the Gulf Coast Institute, a nonprofit group that promotes quality-of-life issues in the area. \n\"Who would have thought that a company in Houston was capable of buying Enron?\" Crossley said. It makes Dynegy a bigger company and, he said, creates a certain mystique about Houston since both cutting- edge businesses are here.", "clipped": true, "phrase": "Enron being bought by Dynegy, another Houston firm, is \"like a couple of cousins getting together,\" said Barry Silverman", "path": "kitchen-l/_americas/sec_media/39."}, "s975": {"from": "the.buzz@enron.com", "to": "", "subject": "the Buzz, Friday, November 16, 2001 (Additions)", "text": "Dynegy and Enron Investor Conference Call: In Monday morning's conference call, Dynegy and Enron executives reviewed the merger details and fielded questions from investors. Chuck Watson, Dynegy chairman and chief executive officer, reiterated the strength of Enron's core business units and the high level of integrity of the people working in the trenches. Watson and Ken Lay also spoke of the advantages that Enron's business units would bring to the new organization with Watson making specific note of EES. \"EES is three to five years ahead of Dynegy's retail unit\" and is an \"earnings contributor and growth engine that will continue in the combined company\" according to Watson. The conference call replay will be available until 5:00 p.m. EST, Monday, November 26. Click here  to listen to the confer", "clipped": true, "phrase": "Chuck Watson, Dynegy chairman and chief executive officer, reiterated the strength of Enron's core business units and the high level of integrity of the people working in the trenches.", "path": "kean-s/deleted_items/325."}, "s976": {"from": "the.buzz@enron.com", "to": "", "subject": "the Buzz, Friday, November 16, 2001 (Additions)", "text": "f executive officer, reiterated the strength of Enron's core business units and the high level of integrity of the people working in the trenches. Watson and Ken Lay also spoke of the advantages that Enron's business units would bring to the new organization with Watson making specific note of EES. \"EES is three to five years ahead of Dynegy's retail unit\" and is an \"earnings contributor and growth engine that will continue in the combined company\" according to Watson. The conference call replay will be available until 5:00 p.m. EST, Monday, November 26. Click here  to listen to the conference call.\n\nConference Call Slide Show: If you don't have time to listen to the conference, the slideshow presentation is also available. Click here  to view the presentation.", "clipped": true, "phrase": "\"EES is three to five years ahead of Dynegy's retail unit\" and is an \"earnings contributor and growth engine that will continue in the combined company\" according to Watson.", "path": "kean-s/deleted_items/325."}, "s977": {"from": "insider@newsletters.businessweek.com", "to": "skean@enron.com", "subject": "November 16 edition", "text": "**This, plus many more stories in this Special Report, are available for all readers on Thursday night, Nov. 15\n\nTHE CORPORATION:\n*ALL EYES ON THE ENRON PRIZE <http://www.businessweek.com/magazine/content/01_48/b3759104.htm?c=bwinsidernov16&n=link4&t=email>\nDynegy's deal for the troubled power company could yield billions \n\nAvailable to all readers <http://www.businessweek.com/magazine/content/01_48/b3759104.htm?c=bwinsidernov16&n=link4&t=email> after Monday,\nNovember 19\n\n  <http://www.businessweek.com/common_images/bw_rule.gif>", "clipped": true, "phrase": "Dynegy's deal for the troubled power company could yield billions", "path": "kean-s/deleted_items/323."}, "s994": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions - 11/19/01", "text": "is a rough era for American business icons. Subject to the vagaries of age (Jack Welch), product failure (Ford/Firestone tires), competition (Lucent, AT&T), technology (Hewlett-Packard and Compaq), and dot-bomb bubbles (CMGI), managers and their firms remind us that being an icon is risky business. The latest example is Enron, whose fall from grace has resulted in a proposed fire sale to Dynegy. \nOnce considered one of the country's most innovative companies, Enron became a pariah due to lack of transparency about its deals and the odor of conflicts of interest. The journalistic accounts of Enron's struggles drip with schadenfreude, hinting that its innovations and achievements were all a mirage.", "clipped": true, "phrase": "The latest example is Enron, whose fall from grace has resulted in a proposed fire sale to Dynegy.", "path": "kean-s/deleted_items/368."}, "s1010": {"from": "keith.miceli@enron.com", "to": "john.ambler@enron.com", "subject": "FW: What Enron Did Right", "text": "is a rough era for American business icons. Subject to the vagaries of age (Jack Welch), product failure (Ford/Firestone tires), competition (Lucent, AT&T), technology (Hewlett-Packard and Compaq), and dot-bomb bubbles (CMGI), managers and their firms remind us that being an icon is risky business. The latest example is Enron, whose fall from grace has resulted in a proposed fire sale to Dynegy.\n\nOnce considered one of the country's most innovative companies, Enron became a pariah due to lack of transparency about its deals and the odor of conflicts of interest. The journalistic accounts of Enron's struggles drip with schadenfreude, hinting that its innovations and achievements were all a mirage.", "clipped": true, "phrase": "The latest example is Enron, whose fall from grace has resulted in a proposed fire sale to Dynegy.", "path": "kean-s/deleted_items/341."}, "s1077": {"from": "anthony.dayao@enron.com", "to": "greg.piper@enron.com, sally.beck@enron.com, mark.pickering@enron.com", "subject": "FW: What Enron Did Right", "text": "vagaries of age (Jack Welch), product failure (Ford/Firestone tires),\ncompetition (Lucent, AT&T), technology (Hewlett-Packard and Compaq), and\ndot-bomb bubbles (CMGI), managers and their firms remind us that being\nan icon is risky business. The latest example is Enron, whose fall from\ngrace has resulted in a proposed fire sale to Dynegy.\n\n   Once considered one of the country's most innovative companies, Enron\nbecame a pariah due to lack of transparency about its deals and the odor\nof conflicts of interest. The journalistic accounts of Enron's struggles\ndrip with schadenfreude, hinting that its innovations and achievements\nwere all a mirage.\n   We hold no brief regarding the legal or ethical issues under\ninvestigation. We agree that more transparency about potential conflicts", "clipped": true, "phrase": "The latest example is Enron, whose fall from\ngrace has resulted in a proposed fire sale to Dynegy.", "path": "beck-s/inbox/721."}, "s996": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions - 11/19/01", "text": "The proposed sale of Enron to Dynegy risks the loss of a major R&D establishment, especially given Dynegy's track record as a second mover following Enron's lead. Beyond what is likely to be a difficult and time-consuming antitrust review, Dynegy's greater challenge will be to find a way to make Enron's spirit of innovation its own. Or so we all should hope, because prosperity depends on the ability of firms to reinvent themselves and remake their industries. \n--- \nMessrs. Bodily and Bruner are professors at the University of Virginia's Graduate School of Business Administration.\n\nCopyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved. \t\n\nJ.P. Morgan Wins (by Not Losing as Much)\nBy Susanne Craig\nStaff Reporter of The Wall Street Journal\n\n11/19/2001", "clipped": true, "phrase": "Dynegy's greater challenge will be to find a way to make Enron's spirit of innovation its own.", "path": "kean-s/deleted_items/368."}, "s1012": {"from": "keith.miceli@enron.com", "to": "john.ambler@enron.com", "subject": "FW: What Enron Did Right", "text": "The proposed sale of Enron to Dynegy risks the loss of a major R&D establishment, especially given Dynegy's track record as a second mover following Enron's lead. Beyond what is likely to be a difficult and time-consuming antitrust review, Dynegy's greater challenge will be to find a way to make Enron's spirit of innovation its own. Or so we all should hope, because prosperity depends on the ability of firms to reinvent themselves and remake their industries.", "clipped": true, "phrase": "Dynegy's greater challenge will be to find a way to make Enron's spirit of innovation its own.", "path": "kean-s/deleted_items/341."}, "s1079": {"from": "anthony.dayao@enron.com", "to": "greg.piper@enron.com, sally.beck@enron.com, mark.pickering@enron.com", "subject": "FW: What Enron Did Right", "text": "almost every area in which it did business. It thrived on volatility.\n\n   The proposed sale of Enron to Dynegy risks the loss of a major R&D\nestablishment, especially given Dynegy's track record as a second mover\nfollowing Enron's lead. Beyond what is likely to be a difficult and\ntime-consuming antitrust review, Dynegy's greater challenge will be to\nfind a way to make Enron's spirit of innovation its own. Or so we all\nshould hope, because prosperity depends on the ability of firms to\nreinvent themselves and remake their industries.\n\n   ---\n\n   Messrs. Bodily and Bruner are professors at the University of\nVirginia's Graduate School of Business Administration.", "clipped": true, "phrase": "Beyond what is likely to be a difficult and\ntime-consuming antitrust review, Dynegy's greater challenge will be to\nfind a way to make Enron's spirit of innovation its own.", "path": "beck-s/inbox/721."}, "s1078": {"from": "anthony.dayao@enron.com", "to": "greg.piper@enron.com, sally.beck@enron.com, mark.pickering@enron.com", "subject": "FW: What Enron Did Right", "text": "Enron was a prolific source of compelling new ideas about the\ntransformation of American business. It created a ruckus in once-quiet\ncorners of the business economy. It rewrote the rules of competition in\nalmost every area in which it did business. It thrived on volatility.\n\n   The proposed sale of Enron to Dynegy risks the loss of a major R&D\nestablishment, especially given Dynegy's track record as a second mover\nfollowing Enron's lead. Beyond what is likely to be a difficult and\ntime-consuming antitrust review, Dynegy's greater challenge will be to\nfind a way to make Enron's spirit of innovation its own. Or so we all\nshould hope, because prosperity depends on the ability of firms to\nreinvent themselves and remake their industries.\n\n   ---\n\n   Messrs. Bodily and Bruner are professors at the University of\nVirginia's Graduate School of Business Administration.", "clipped": true, "phrase": "The proposed sale of Enron to Dynegy risks the loss of a major R&amp;D\nestablishment, especially given Dynegy's track record as a second mover\nfollowing Enron's lead.", "path": "beck-s/inbox/721."}, "s1032": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions- 11/19/01", "text": "Together, Dynegy and Enron have natural gas sales of approximately 40 billion cubic feet per day and 25,000 miles of gas pipelines. \n-Carol Cole \n\nCopyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved. \t\nENRON MELTDOWN & HIGH GAS PRICES?\n\n11/19/2001\nGas Processors Report\n(c) 2001 Phillips Business Information, Inc.\nOctober Henry Hub Bidweek Cash Price $1.87, November $3.16. Why?", "clipped": true, "phrase": "Together, Dynegy and Enron have natural gas sales of approximately 40 billion cubic feet per day and 25,000 miles of gas pipelines.", "path": "kitchen-l/_americas/sec_media/26."}, "s1000": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions - 11/19/01", "text": "Enron shares fell 48 cents Friday to close at $9 on the New York Stock Exchange. Dynegy fell $1.53 to $42.47. \nEnron's third-quarter earnings report, which had been expected last week, was delayed by the Dynegy talks and a restatement of earnings, Chief Financial Officer Jeffrey McMahon said. \nEnron reduced net income for four years by a combined $586 million to include losses from affiliated partnerships. \nToday's filing, called a 10-Q, will include a balance sheet summarizing assets and debts. Enron for years has omitted balance sheets, which the SEC requires as part of the 10-Q, from its press releases announcing earnings.", "clipped": true, "phrase": "Enron's third-quarter earnings report, which had been expected last week, was delayed by the Dynegy talks and a restatement of earnings", "path": "kean-s/deleted_items/368."}, "s993": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions - 11/17/01 - 11/18/01", "text": "Dynegy, another Texas energy marketing company, has made a bid to buy Enron. That probably means the best Enron and PGE employees can hope for now is that Dynegy will be a better corporate owner, or they can try their luck with one of the many shareholder lawsuits being filed. \nThe Securities and Exchange Commission is investigating Enron's activities. If its behavior was illegal, there will be consequences for company officers. \nThat's still not much to offer to workers who have seen their retirement savings dissolve. But for now it's all there is.\n\nCopyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved.", "clipped": true, "phrase": "Dynegy, another Texas energy marketing company, has made a bid to buy Enron. That probably means the best Enron and PGE employees can hope for now is that Dynegy will be a better corporate owner", "path": "kean-s/deleted_items/369."}, "s995": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions - 11/19/01", "text": "The proposed sale of Enron to Dynegy risks the loss of a major R&D establishment, especially given Dynegy's track record as a second mover following Enron's lead. Beyond what is likely to be a difficult and time-consuming antitrust review, Dynegy's greater challenge will be to find a way to make Enron's spirit of innovation its own. Or so we all should hope, because prosperity depends on the ability of firms to reinvent themselves and remake their industries. \n--- \nMessrs. Bodily and Bruner are professors at the University of Virginia's Graduate School of Business Administration.", "clipped": true, "phrase": "especially given Dynegy's track record as a second mover following Enron's lead", "path": "kean-s/deleted_items/368."}, "s1011": {"from": "keith.miceli@enron.com", "to": "john.ambler@enron.com", "subject": "FW: What Enron Did Right", "text": "The proposed sale of Enron to Dynegy risks the loss of a major R&D establishment, especially given Dynegy's track record as a second mover following Enron's lead. Beyond what is likely to be a difficult and time-consuming antitrust review, Dynegy's greater challenge will be to find a way to make Enron's spirit of innovation its own. Or so we all should hope, because prosperity depends on the ability of firms to reinvent themselves and remake their industries.", "clipped": true, "phrase": "especially given Dynegy's track record as a second mover following Enron's lead", "path": "kean-s/deleted_items/341."}, "s1067": {"from": "peggy.mahoney@enron.com", "to": "karen.denne@enron.com, j..kean@enron.com", "subject": "HELP!!!", "text": "or about the decline in Whitewing's value, a Dynegy spokeswoman declined\nto comment.\n\n  \"We are referring all questions about the Enron 10-Q to Enron,\" said\nthe spokeswoman. Representatives of Enron weren't  immediately available\nfor comment.\n\n  Dynegy agreed to buy Enron earlier this month. Earlier Tuesday, the\ndeal was worth about $11.97 billion in stock, but Enron shares were\ntrading at a 32.5% discount to the offer price earlier Tuesday morning,\nwhich is a sign of the uncertainty surrounding the transaction.\n\n  Enron shares were recently trading at $7.86, down $1.20, or  13.2%,\nwhile Dynegy shares changed hands at $43.29, down 31 cents, or 0.8%.\n\n  A ChevronTexaco Corp. (CVX) official wasn't immediately available to\ncomment on the matter.\n\n  ChevronTexaco, San Francisco, owns 26% of Dynegy and is providing $2.5", "clipped": true, "phrase": "Dynegy agreed to buy Enron earlier this month. Earlier Tuesday, the\ndeal was worth about $11.97 billion in stock, but Enron shares were\ntrading at a 32.5% discount to the offer price", "path": "kean-s/deleted_items/400."}, "s1082": {"from": "peggy.mahoney@enron.com", "to": "j..kean@enron.com, pr <.palmer@enron.com>, karen.denne@enron.com", "subject": "Enron Corp.: IN THE MONEY: Enron Melts As Many See Merger In   Jeopardy", "text": "involved in merger, aren't willing to play. \"There is just too much\nrisk,\" said a trader at a New York risk arbitrage firm. \"Nobody wants to\neven get close to the deal.\"\n\n  Perhaps most telling about the uncertainty surrounding Enron and the\nmerger with Dynegy is the fact that even a 68% risk premium over the\nvalue of the Dynegy deal has so far failed to attract investors. \"The\ndeal appears in real jeopardy here,\" a bond trader said.\n\n  Under the merger plan, Enron holders would receive 0.2685 Dynegy share\nfor each Enron share. At Dynegy's current share price of $41.77, that\nmeans the value of the deal is about $11.20 a share for Enron holders.\nBut Enron stock recently traded as low as $6.68 a share, almost 68%\nbelow the value of the merger.\n\n  Adding to doubts about Enron's long-term viability, the company said", "clipped": true, "phrase": "even a 68% risk premium over the\nvalue of the Dynegy deal has so far failed to attract investors.", "path": "kean-s/deleted_items/387."}, "s1080": {"from": "peggy.mahoney@enron.com", "to": "j..kean@enron.com, pr <.palmer@enron.com>, karen.denne@enron.com", "subject": "Enron Corp.: IN THE MONEY: Enron Melts As Many See Merger In   Jeopardy", "text": "I'm sure you are already seeing these.......any word from Dynegy?\nPeggy\n\nIN THE MONEY: Enron Melts As Many See Merger In Jeopardy\nBy Carol S. Remond\n\n11/20/2001\nDow Jones News Service\n(Copyright (c) 2001, Dow Jones & Company, Inc.)\n\n   A Dow Jones Newswires Column\n\n  NEW YORK -(Dow Jones)- Investors are running for the exits as doubts\nabout Enron Corp.'s (ENE) planned merger with Dynegy Inc. (DYN) mount.\n   Debt and equity markets are taking news of Enron's never ending\ncredit woes with renewed pessimism Tuesday, sending the company's stock\ndown almost 24% and its bonds sharply lower.\n\n  And with so much riding on Dynegy's financial support, risk\narbitrageurs, those investors who bet on the stock price of companies\ninvolved in merger, aren't willing to play. \"There is just too much", "clipped": true, "phrase": "Investors are running for the exits as doubts\nabout Enron Corp.'s (ENE) planned merger with Dynegy Inc. (DYN) mount.", "path": "kean-s/deleted_items/387."}, "s1081": {"from": "peggy.mahoney@enron.com", "to": "j..kean@enron.com, pr <.palmer@enron.com>, karen.denne@enron.com", "subject": "Enron Corp.: IN THE MONEY: Enron Melts As Many See Merger In   Jeopardy", "text": "about Enron Corp.'s (ENE) planned merger with Dynegy Inc. (DYN) mount.\n   Debt and equity markets are taking news of Enron's never ending\ncredit woes with renewed pessimism Tuesday, sending the company's stock\ndown almost 24% and its bonds sharply lower.\n\n  And with so much riding on Dynegy's financial support, risk\narbitrageurs, those investors who bet on the stock price of companies\ninvolved in merger, aren't willing to play. \"There is just too much\nrisk,\" said a trader at a New York risk arbitrage firm. \"Nobody wants to\neven get close to the deal.\"\n\n  Perhaps most telling about the uncertainty surrounding Enron and the\nmerger with Dynegy is the fact that even a 68% risk premium over the\nvalue of the Dynegy deal has so far failed to attract investors. \"The\ndeal appears in real jeopardy here,\" a bond trader said.", "clipped": true, "phrase": "And with so much riding on Dynegy's financial support, risk\narbitrageurs, those investors who bet on the stock price of companies\ninvolved in merger, aren't willing to play.", "path": "kean-s/deleted_items/387."}, "s1085": {"from": "peggy.mahoney@enron.com", "to": "j..kean@enron.com, pr <.palmer@enron.com>, karen.denne@enron.com", "subject": "Enron Corp.: IN THE MONEY: Enron Melts As Many See Merger In   Jeopardy", "text": "Service cut Enron's credit ratings to \"BBB-\" and \"Baa3\", just one notch\nhigher than below-investment grade, or \"junk\" status. The rating\nagencies warned that they may cut their respective ratings again.\nNeither S&P nor Moody's were available for comment Tuesday.\n\n  Meanwhile, as investors look at the Dynegy deal as Enron's one and\nonly hope to avoid bankruptcy, bondholders are also showing renewed\nworries.\n\n  Enron's 7 7/8% bonds due in 2003 are down about 10 cents on the day,\nnow trading at about 70 cents on the dollar. Subordinated bonds due in\n2005 are also sharply lower, changing hands at about 62 cents on the\ndollar.\n\n  Enron has set a number of partnerships over the years to hedge\ninvestment risks, and in some cases keep debt off its balance sheet. In", "clipped": true, "phrase": "as investors look at the Dynegy deal as Enron's one and\nonly hope to avoid bankruptcy", "path": "kean-s/deleted_items/387."}, "s1088": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions- 11/20/01", "text": "USA: S&P may still cut Enron, expects Dynegy merger.\nReuters English News Service, 11/20/01\n\nIN THE MONEY: Enron Melts As Many See Merger In Jeopardy\nDow Jones News Service, 11/20/01\nDynegy Won't Comment On Merger Partner Enron's 10-Q\nDow Jones News Service, 11/20/01\n\nEnron's Credit Rating Remains on Negative Watch, S&P Says\nBloomberg, 11/20/01\n\nAccounting Watchdogs to Examine Auditors' Peer Review Process\nBloomberg, 11/20/01\n\nNewPower Plugs Cash Drain by Revamping Power Pact With Enron\nBloomberg, 11/20/01\n\nEnron Falls After Company Cuts Earnings, Says $690 Mln Note Due\nBloomberg, 11/20/01\n\nOptions Report: Traders Wary As Mkt Shows 'Lack Of Fear'\nDow Jones Capital Markets Report, 11/20/01\n\nUSA: Reliant surprised by latest Enron disclosure.\nReuters English News Service, 11/20/01\n\nSTOCKWATCH Enron slides after warning on debt, cut in Q3 EPS\nAFX News, 11/20/01\n\nAndersen-Enron Audit Prompts", "clipped": true, "phrase": "S&amp;P also said Enron's near-term liquidity position is \"expected to be sufficient\" to allow it to merge with smaller Houston-based rival Dynegy Inc.", "path": "kitchen-l/_americas/sec_media/24."}, "s1091": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions- 11/20/01", "text": "New York, Nov. 20 (Bloomberg) -- Enron Corp.'s credit rating\nremained on negative watch by Standard & Poor's, a day after the\nlargest energy trader released its delayed third-quarter\nregulatory filing.\n\n     Shares of Enron fell as much as 28 percent today, and its\nbonds have also tumbled amid concern the company might run out of\ncash before its takeover by Dynegy Inc.\n\nAccounting Watchdogs to Examine Auditors' Peer Review Process\n2001-11-20 13:32 (New York)\n\nAccounting Watchdogs to Examine Auditors' Peer Review Process\n\n     Washington, Nov. 20 (Bloomberg) -- The accounting industry's\nwatchdog group plans to examine whether audit firms are conducting\nadequate ``peer reviews'' of one another in light of Arthur\nAndersen LLP's failed audits of Enron Corp., according to the\ngroup's chairman, Charles Bowsher.", "clipped": true, "phrase": "amid concern the company might run out of\ncash before its takeover by Dynegy Inc.", "path": "kitchen-l/_americas/sec_media/24."}, "s1097": {"from": "karen.denne@enron.com", "to": "j..kean@enron.com, meredith.philipp@enron.com, vance.meyer@enron.com,   \tcourtney.votaw@enron.com", "subject": "FW: FYI", "text": "of the details and now they are coming back to haunt him. The other\nthing that is bothering people today is these numbers show the\ncompany is burning through cash at an amazing rate. And Enron has\nnot really given us a good understanding of why they are burning\nthrough the cash that fast. But it raises questions about whether\nthe company can continue operating until its supposed to be taken\nover by Dynegy by next September. And, of course, the way the stock\nis trading, it`s obvious that a lot of people on Wall Street doubt\nthat deal will go through or at least doubt that it will go through\non the announced terms.\n    TRACY EICHLER, UBS PAINEWEBBER: Floyd, my question regarding\nshareholder lawsuits. It seems like there`s some validity there.\nAny new news on the SEC investigation and the magnitude to those\nlawsuits?", "clipped": true, "phrase": "it raises questions about whether\nthe company can continue operating until its supposed to be taken\nover by Dynegy by next September.", "path": "kean-s/pr_crisis_management/189."}, "s1098": {"from": "karen.denne@enron.com", "to": "j..kean@enron.com, meredith.philipp@enron.com, vance.meyer@enron.com,   \tcourtney.votaw@enron.com", "subject": "FW: FYI", "text": "not really given us a good understanding of why they are burning\nthrough the cash that fast. But it raises questions about whether\nthe company can continue operating until its supposed to be taken\nover by Dynegy by next September. And, of course, the way the stock\nis trading, it`s obvious that a lot of people on Wall Street doubt\nthat deal will go through or at least doubt that it will go through\non the announced terms.\n    TRACY EICHLER, UBS PAINEWEBBER: Floyd, my question regarding\nshareholder lawsuits. It seems like there`s some validity there.\nAny new news on the SEC investigation and the magnitude to those\nlawsuits?\n    NORRIS: There`s no news on the SEC investigation. There are, of\ncourse, huge shareholder lawsuits. They`re filed against Enron,\nthey`re filed against the current and former officers of the", "clipped": true, "phrase": "it`s obvious that a lot of people on Wall Street doubt\nthat deal will go through or at least doubt that it will go through\non the announced terms.", "path": "kean-s/pr_crisis_management/189."}, "s1058": {"from": "hemery@firstunion1.com", "to": "hemery.houston_fannin1_po.central_dom@firstunion1.com", "subject": "CREDIT SUISSE FIRST BOSTON-Enron Corp.10Q Info Consistent   WithPlusses For DYN In Deal", "text": "The \"material adverse change (MAC)\" clause in the DYN/ENE deal was described as\nconsidered if other ENE liabilities (primarily litigation) exceed $2 billion net\nof insurance or reserves. If an additional $1.5 billion in liabilities is\nassessed a MAC is deemed to have occurred.\n\nIn assessing a 90% probability that the DYN/ENE deal will be completed, we note\nthat ENE is not a going concern without it, DYN demonstrably benefits by it\n(please see report dated Nov 9,'01) and Chevron/Texaco (CVX, 82.91) supports it.\nIn our view, positive comments by CVX yesterday, and the $1.5 billion cash\ninfusion to ENE from CVX on Nov 13, add to the support shown for the deal.\n\nWe continue to rate DYN Strong Buy because of its earnings and valuation upside\npotential in this deal. Our current eps est for DYN of $2.55 for '02 moves to", "clipped": true, "phrase": "In assessing a 90% probability that the DYN/ENE deal will be completed, we note\nthat ENE is not a going concern without it", "path": "kean-s/deleted_items/374."}, "s1060": {"from": "hemery@firstunion1.com", "to": "hemery.houston_fannin1_po.central_dom@firstunion1.com", "subject": "CREDIT SUISSE FIRST BOSTON-Enron Corp.10Q Info Consistent   WithPlusses For DYN In Deal", "text": "In our view, positive comments by CVX yesterday, and the $1.5 billion cash\ninfusion to ENE from CVX on Nov 13, add to the support shown for the deal.\n\nWe continue to rate DYN Strong Buy because of its earnings and valuation upside\npotential in this deal. Our current eps est for DYN of $2.55 for '02 moves to\n$3.25 or higher with a completed deal. Our DYN target price of $54 is subject to\nupward revision as well. For ENE, our Strong Buy rating expects that the deal\nspread, currently about 30% will narrow as progress is made toward a closing.\n\nThe author's immediate family owns less than 250 shares of ENE.\n\nPrice        Target                     Mkt. Value 52-Week\n19 Nov 01    (12 Months)      Div       Yield(%)   ($m) Price Range", "clipped": true, "phrase": "Our current eps est for DYN of $2.55 for '02 moves to\n$3.25 or higher with a completed deal.", "path": "kean-s/deleted_items/374."}, "s1061": {"from": "hemery@firstunion1.com", "to": "hemery.houston_fannin1_po.central_dom@firstunion1.com", "subject": "CREDIT SUISSE FIRST BOSTON-Enron Corp.10Q Info Consistent   WithPlusses For DYN In Deal", "text": "(please see report dated Nov 9,'01) and Chevron/Texaco (CVX, 82.91) supports it.\nIn our view, positive comments by CVX yesterday, and the $1.5 billion cash\ninfusion to ENE from CVX on Nov 13, add to the support shown for the deal.\n\nWe continue to rate DYN Strong Buy because of its earnings and valuation upside\npotential in this deal. Our current eps est for DYN of $2.55 for '02 moves to\n$3.25 or higher with a completed deal. Our DYN target price of $54 is subject to\nupward revision as well. For ENE, our Strong Buy rating expects that the deal\nspread, currently about 30% will narrow as progress is made toward a closing.\n\nThe author's immediate family owns less than 250 shares of ENE.\n\nPrice        Target                     Mkt. Value 52-Week", "clipped": true, "phrase": "We continue to rate DYN Strong Buy because of its earnings and valuation upside\npotential in this deal.", "path": "kean-s/deleted_items/374."}, "s1101": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions- 11/21/01", "text": "Enron bond prices fell into the range of between 70 cents and 80 cents on the dollar, according to market observers. Following the announcement earlier this month of Dynegy Inc.'s plan to purchase Enron for around $10 billion in stock, bond prices had firmed to above 80 cents on the dollar.", "clipped": true, "phrase": "Following the announcement earlier this month of Dynegy Inc.'s plan to purchase Enron for around $10 billion in stock, bond prices had firmed to above 80 cents on the dollar.", "path": "kitchen-l/_americas/sec_media/23."}, "s1112": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions- 11/21/01", "text": "\"The latest twists, while negative, are not however likely to turn into a tornado and are not deal-breakers in our opinion,\" Eassey said. \"At the level Enron is being purchased, Dynegy had clearly baked-in these types of uncertainties into its purchase price.\" \nEnron is also feeling pressure because some of its energy trading partners are either cutting back on the amount of business they do with the company or keeping close watch of Enron's credit rating. Officials with Mirant Corp. and Aquila said they have cut back on trading while Houston-based Reliant Resources is watching the situation carefully.", "clipped": true, "phrase": "At the level Enron is being purchased, Dynegy had clearly baked-in these types of uncertainties into its purchase price.", "path": "kitchen-l/_americas/sec_media/23."}, "s1099": {"from": "nytdirect@nytimes.com", "to": "skean@enron.com", "subject": "Today's Headlines from NYTimes.com Wednesday, November 21, 2001", "text": "http://www.nytimes.com/2001/11/21/international/middleeast/21JIHA.html?todaysheadlines \n\n-----\n\nMORE INTERNATIONAL NEWS:\nhttp://www.nytimes.com/pages/world/index.html?todaysheadline\n\nBUSINESS\n=========================\nEnron's Growing Financial Crisis Raises Doubts About Merger\nDeal\n\nShares of Enron plunged 23 percent as expectations grew in\nthe markets that Dynegy would either back out of its deal\nto rescue the company or seek to renegotiate terms of their\nmerger.\nhttp://www.nytimes.com/2001/11/21/business/21ENRO.html?todaysheadlines\n\n-----\n \nConoco Plays Security Card in Promoting Its Merger \n\nThe chairman of Conoco, Archie W. Dunham, has added a new\nrationale for his company's planned merger with Phillips\nPetroleum: energy security.\nhttp://www.nytimes.com/2001/11/21/business/21PLAC.html?todaysheadlines \n\n-----\n\nMicrosoft Aims to Settle Suits by Equipping 12,500 Schools", "clipped": true, "phrase": "Shares of Enron plunged 23 percent as expectations grew in\nthe markets that Dynegy would either back out of its deal\nto rescue the company or seek to renegotiate terms of their\nmerger.", "path": "kean-s/deleted_items/401."}, "s1107": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions- 11/21/01", "text": "``Over the short-run, the rest of this week, it is going to\nbe difficult for anyone to trade with Enron, because they should\nbe generally concerned that neither Enron nor Dynegy has made\npublic comments on this 10Q.''\n\n     ``If it is only for a few days, we're OK. As long as Dynegy\ndoesn't pull out of this deal, we should be OK, and Enron should\nmaintain its investment grade rating, and all the Enron Corp.\nbonds should mature without incident.''\n\n     ``Hopefully the company will comment shortly. If there has\never been a company that couldn't afford to disclose a time bomb\nin a 10Q, it is Enron. This should have been disclosed prior to\nthis. It added to the crisis of confidence.''\n\n     `` We believe the company will be able to satisfy the $690\nmillion note. It appears they should be able to do it from", "clipped": true, "phrase": "As long as Dynegy\ndoesn't pull out of this deal, we should be OK, and Enron should\nmaintain its investment grade rating", "path": "kitchen-l/_americas/sec_media/23."}, "s1108": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions- 11/21/01", "text": "`` We believe the company will be able to satisfy the $690\nmillion note. It appears they should be able to do it from\nexisting liquidity. They could renegotiate the note and/or the\nother bank facilities that would be jeopardized if they default on\nthe note.''\n\n     ``Even our buy recommendation on the Enron notes is based on\nour belief that Dynegy's management is credible because Enron's\nlost all credibility with this disclosure.''\n\nOn the possibility that Enron may be downgraded to junk ratings:\n     ``Nothing's too big to fail, and PG&E proved that. The core\nbusiness at Enron is the trading operation, and it is difficult\nfor people to trade with any firm, particularly an energy trader,\nif there is any concern they won't be able to deliver on their\nside of the trade.''\n\nEnron stock punishment deepens \nDebt woes cast pall over merger \nBy TOM FOWLER", "clipped": true, "phrase": "``Even our buy recommendation on the Enron notes is based on\nour belief that Dynegy's management is credible because Enron's\nlost all credibility with this disclosure.''", "path": "kitchen-l/_americas/sec_media/23."}, "s1109": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions- 11/21/01", "text": "for people to trade with any firm, particularly an energy trader,\nif there is any concern they won't be able to deliver on their\nside of the trade.''\n\nEnron stock punishment deepens \nDebt woes cast pall over merger \nBy TOM FOWLER \nCopyright 2001 Houston Chronicle \nNovember 21, 2001\n\nThe continuing stream of surprises from the depths of Enron Corp.'s balance sheet is putting a strain on Dynegy's plans to buy its beleaguered competitor, but analysts say the deal remains on track. \nEnron's share price dropped 23 percent Tuesday to $6.99 after news the company had to restate its third-quarter earnings and would need to pay off or renegotiate a $690 million IOU by Monday. \nThe changes came just five days after Enron executives told analysts in a conference call they believed most of the charges related to special financing partnerships had been disclosed.", "clipped": true, "phrase": "The continuing stream of surprises from the depths of Enron Corp.'s balance sheet is putting a strain on Dynegy's plans to buy its beleaguered competitor, but analysts say the deal remains on track.", "path": "kitchen-l/_americas/sec_media/23."}, "s1110": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions- 11/21/01", "text": "\"The fact that Enron is still capable of pulling new rabbits out of their hat would make me think Dynegy would question their future earnings even more,\" said Prudential Securities analyst Carol Coale, referring to the big income benefit Dynegy hopes to reap from the deal. \n\"But at this point Dynegy says they're still going forward, so I still have a positive outlook on it closing.\" \nThe $690 million note payable, which is related to a natural gas partnership in Brazil, had been reported earlier. But the fact that it would come due almost immediately if the company's credit rating was downgraded to BBB-, which happened Nov. 12, was news to analysts and to Dynegy.", "clipped": true, "phrase": "\"But at this point Dynegy says they're still going forward, so I still have a positive outlook on it closing.\"", "path": "kitchen-l/_americas/sec_media/23."}, "s1117": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions- 11/21/01", "text": "\"The bid by Dynegy gave (Enron) breathing space but it did not solve all their problems,\" Meade said. \nBut Duane Grubert, an analyst with Sanford C. Bernstein and Co., said, \"Dynegy will do what it needs to make sure the deal will prevail.\" \nOfficials with Enron and Dynegy, both Houston-based, said reports of trading problems were incorrect and the merger was not in trouble. \n\"We continue to do business with Enron. We are one of their largest customers and they are one of our largest customers,\" Dynegy spokesman John Sousa said.", "clipped": true, "phrase": "\"Dynegy will do what it needs to make sure the deal will prevail.\"", "path": "kitchen-l/_americas/sec_media/23."}, "s1138": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions- 11/21/01", "text": "Michelle Foss, director of the Energy Institute at the University of Houston, said this latest round of troubles had to raise concerns about whether the Dynegy-Enron deal will be pulled off. \n\"It doesn't look like it's going to be able to happen,\" Foss said. \"It did look like a decent idea when they proposed the merger, but today I'm sure they'll look at it and see if they can salvage their attempt to buy Enron.\" \nShares of Dynegy were off dlrs 2.55 to dlrs 39.15 in trading on the NYSE. \n--- \nTobacco suits by Venezuela, Brazil's Espirito Santo dropped", "clipped": true, "phrase": "said this latest round of troubles had to raise concerns about whether the Dynegy-Enron deal will be pulled off", "path": "kean-s/deleted_items/447."}, "s1135": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions- 11/21/01", "text": "Goldman Sachs, as we heard from Chris, removing three energy firms; Enron (URL: http://.www.enron.com/) , Dynegy (URL: http://www.dynegy.com/) and Williams (URL: http://www.williamsenergy.com/) , from the recommended list. \nDynegy was expected to buy the troubled Enron. It is still, but it`s rated market perform now as is Enron. Williams rated market outperform. Goldman says it`s concerned about Enron`s ability to recover from the loss of significant business deals and sees no positive catalysts for the entire group largely due to the problems in Enron.", "clipped": true, "phrase": "Dynegy was expected to buy the troubled Enron. It is still, but it`s rated market perform now as is Enron.", "path": "kean-s/deleted_items/447."}, "s1146": {"from": "karen.denne@enron.com", "to": "kenneth.lay@enron.com, mark.frevert@enron.com, greg.whalley@enron.com,   \tj..kean@enron.com, pr <.palmer@enron.com>, mark.koenig@enron.com,   \tjames.derrick@enron.com, rex.rogers@enron.com,   \traymond.bowen@enron.com, jeffrey.mcmahon@enron.", "subject": "Articles", "text": "Investors, however, remain more circumspect, unmoved by the whopping 104% risk premium currently attached to the merger. (That's how much investors buying Enron shares would make if the deal was closing Wednesday.) \nAside from continued worries about how much bad news may still come, analysts and traders appear particularly concerned with Enron's liquidity, or lack thereof, going forward.", "clipped": true, "phrase": "Investors, however, remain more circumspect, unmoved by the whopping 104% risk premium currently attached to the merger.", "path": "kean-s/deleted_items/460."}, "s1155": {"from": "karen.denne@enron.com", "to": "kenneth.lay@enron.com, mark.frevert@enron.com, greg.whalley@enron.com,   \tj..kean@enron.com, pr <.palmer@enron.com>, mark.koenig@enron.com,   \tjames.derrick@enron.com, rex.rogers@enron.com,   \traymond.bowen@enron.com, jeffrey.mcmahon@enron.", "subject": "Articles", "text": "Now analysts are challenging that assumption. Ron Barone, managing director at UBS Warburg LLC, said he believes that because of Enron's financial problems, a combined company would actually have lower earnings next year than Dynegy would have by itself. Mr. Barone said he thinks a \"likely scenario\" is that the merger formula will be renegotiated sharply down to about 0.15 Dynegy share for each Enron share. \nCopyright (c) 2001 Dow Jones & Company, Inc. \nAll Rights Reserved.\n\n..................................................................................................................................... \n\nFinancial Post Investing", "clipped": true, "phrase": "Ron Barone, managing director at UBS Warburg LLC, said he believes that because of Enron's financial problems, a combined company would actually have lower earnings next year than Dynegy would have by itself.", "path": "kean-s/deleted_items/460."}, "s1173": {"from": "minako.yamada@enron.com", "to": "michael.grimes@enron.com, nicholas.o'day@enron.com, makiko.imai@enron.com,   \trousseau.anai@enron.com, mika.watanabe@enron.com,   \te..pettersen@enron.com, joseph.hirl@enron.com,   \tstefan.niesler@enron.com, akiko.higaki@enron.com,   \ttom.fi", "subject": "Translation - Nihon Keizai 11/23, Asahi 11/23 (Enron Mention)", "text": "Please find attached translation of the articles, \"Enron's credit\nrating is downgraded and its share prices fall, clouding Dynegy's plan\nto acquire the company,\" from Nihon Keizai Shimbun and \"Enron Corp. of\nthe United States considers withdrawal from the Japanese market,\" from\nAsahi Shimbun, both dated November 23.\n\nBest regards,\nIRJ PR Services", "clipped": false, "phrase": "Enron's credit\nrating is downgraded and its share prices fall, clouding Dynegy's plan\nto acquire the company,", "path": "kean-s/deleted_items/463."}, "s1233": {"from": "carlos.sole@enron.com", "to": "kay.mann@enron.com", "subject": "ENE", "text": "Enron's Stock, Bonds Drop on Concern for Dynegy Bid (Update3)\nBy Jennifer Ryan \nNew York, Nov. 26 (Bloomberg) -- Enron Corp.'s bond and stock prices declined amid concern Dynegy Inc.'s proposed $23 billion acquisition of the biggest energy trader may fall through. \n``It's a death spiral,'' said Edward Jones & Co. analyst Brian Youngberg, who rates Enron ``sell'' and doesn't own the company's shares. ``With the declining share price and debt disclosures, the chance of the deal going through has fallen from about 90 percent to less than 50 percent.''", "clipped": true, "phrase": "Enron Corp.'s bond and stock prices declined amid concern Dynegy Inc.'s proposed $23 billion acquisition of the biggest energy trader may fall through.", "path": "mann-k/deleted_items/139."}, "s1239": {"from": "kay.mann@enron.com", "to": "heather.kroll@enron.com", "subject": "FW: ENE", "text": "Is it spelled Xehuantaneo?\n\n -----\n\nEnron's Stock, Bonds Drop on Concern for Dynegy Bid (Update3)\nBy Jennifer Ryan \nNew York, Nov. 26 (Bloomberg) -- Enron Corp.'s bond and stock prices declined amid concern Dynegy Inc.'s proposed $23 billion acquisition of the biggest energy trader may fall through. \n``It's a death spiral,'' said Edward Jones & Co. analyst Brian Youngberg, who rates Enron ``sell'' and doesn't own the company's shares. ``With the declining share price and debt disclosures, the chance of the deal going through has fallen from about 90 percent to less than 50 percent.''", "clipped": true, "phrase": "Enron Corp.'s bond and stock prices declined amid concern Dynegy Inc.'s proposed $23 billion acquisition of the biggest energy trader may fall through.", "path": "mann-k/deleted_items/144."}, "s1241": {"from": "kay.mann@enron.com", "to": "carlos.sole@enron.com", "subject": "RE: ENE", "text": "Enron's Stock, Bonds Drop on Concern for Dynegy Bid (Update3)\nBy Jennifer Ryan \nNew York, Nov. 26 (Bloomberg) -- Enron Corp.'s bond and stock prices declined amid concern Dynegy Inc.'s proposed $23 billion acquisition of the biggest energy trader may fall through. \n``It's a death spiral,'' said Edward Jones & Co. analyst Brian Youngberg, who rates Enron ``sell'' and doesn't own the company's shares. ``With the declining share price and debt disclosures, the chance of the deal going through has fallen from about 90 percent to less than 50 percent.''", "clipped": true, "phrase": "Enron Corp.'s bond and stock prices declined amid concern Dynegy Inc.'s proposed $23 billion acquisition of the biggest energy trader may fall through.", "path": "mann-k/deleted_items/143."}, "s1244": {"from": "carlos.sole@enron.com", "to": "kay.mann@enron.com", "subject": "RE: ENE", "text": "Enron's Stock, Bonds Drop on Concern for Dynegy Bid (Update3)\nBy Jennifer Ryan \nNew York, Nov. 26 (Bloomberg) -- Enron Corp.'s bond and stock prices declined amid concern Dynegy Inc.'s proposed $23 billion acquisition of the biggest energy trader may fall through. \n``It's a death spiral,'' said Edward Jones & Co. analyst Brian Youngberg, who rates Enron ``sell'' and doesn't own the company's shares. ``With the declining share price and debt disclosures, the chance of the deal going through has fallen from about 90 percent to less than 50 percent.''", "clipped": true, "phrase": "Enron Corp.'s bond and stock prices declined amid concern Dynegy Inc.'s proposed $23 billion acquisition of the biggest energy trader may fall through.", "path": "mann-k/deleted_items/138."}, "s1246": {"from": "heather.kroll@enron.com", "to": "kay.mann@enron.com", "subject": "RE: ENE", "text": "-----Original Message-----\nFrom: \tMann, Kay  \nSent:\tMonday, November 26, 2001 11:00 AM\nTo:\tKroll, Heather\nSubject:\tFW: ENE\n\nIs it spelled Xehuantaneo?\n\n -----\n\nEnron's Stock, Bonds Drop on Concern for Dynegy Bid (Update3)\nBy Jennifer Ryan \nNew York, Nov. 26 (Bloomberg) -- Enron Corp.'s bond and stock prices declined amid concern Dynegy Inc.'s proposed $23 billion acquisition of the biggest energy trader may fall through. \n``It's a death spiral,'' said Edward Jones & Co. analyst Brian Youngberg, who rates Enron ``sell'' and doesn't own the company's shares. ``With the declining share price and debt disclosures, the chance of the deal going through has fallen from about 90 percent to less than 50 percent.''", "clipped": true, "phrase": "Enron Corp.'s bond and stock prices declined amid concern Dynegy Inc.'s proposed $23 billion acquisition of the biggest energy trader may fall through.", "path": "mann-k/deleted_items/140."}, "s1238": {"from": "kay.mann@enron.com", "to": "heather.kroll@enron.com", "subject": "FW: ENE", "text": "Concern that Dynegy may change or cancel its bid for Enron had pushed Enron's stock down 48 percent in the past three days. Enron's shares had plummeted 86 percent since mid-October after the company reported a $618 million third-quarter loss and said expansion into water, telecommunications and retail-energy sales cost it $1.01 billion.", "clipped": true, "phrase": "Concern that Dynegy may change or cancel its bid for Enron had pushed Enron's stock down 48 percent in the past three days.", "path": "mann-k/deleted_items/144."}, "s1254": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions- 11/26/01", "text": "Under the terms of the transaction, Enron shareholders are to receive 0.2685 of a Dynegy share for each share outstanding, or about $8.98 billion, based on Dynegy's recent stock price. \nAt Enron's recent level, the stock is trading at a 64% discount to the Dynegy offer. \nNeither Sousa or Denne would comment on the stock movement. \nDynegy has already provided Enron with a $1.5 billion cash infusion that is secured by Enron's pipeline assets. While that investment has helped Enron's near-term liquidity position, it remains unclear how long the company can remain solvent without any added investments. \n-By Christina Cheddar, Dow Jones Newswires; 201-938-XXXX; christina.cheddar@dowjones.com", "clipped": true, "phrase": "At Enron's recent level, the stock is trading at a 64% discount to the Dynegy offer.", "path": "kean-s/deleted_items/504."}, "s1225": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions -  11/23/01", "text": "In perhaps the most significant sign of the turning tide on Wall Street, Goldman Sachs analyst David Fleischer lowered his ratings on Enron and Dynegy. A longtime Enron fan, Mr. Fleischer issued a report expressing doubts that the merger would help Dynegy's earnings and whether Enron could \"recover the significant business that has been lost\" in its giant energy-trading operations. \"The Enron machine continues to sputter,\" Mr. Fleischer wrote.", "clipped": true, "phrase": "Goldman Sachs analyst David Fleischer lowered his ratings on Enron and Dynegy.", "path": "kean-s/deleted_items/477."}, "s1232": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions -  11/23/01", "text": "Now analysts are challenging that assumption. Ron Barone, managing director at UBS Warburg LLC, said he believes that because of Enron's financial problems, a combined company would actually have lower earnings next year than Dynegy would have by itself. Mr. Barone said he thinks a \"likely scenario\" is that the merger formula will be renegotiated sharply down to about 0.15 Dynegy share for each Enron share. \nSuch a ratcheting down wouldn't be without precedent in the deal. According to one person familiar with the merger negotiations, Dynegy reduced the exchange formula at least once prior to the Nov. 9 announcement because of Enron's rapidly sinking stock price, which at the beginning of this year was above $80 a share.", "clipped": true, "phrase": "Mr. Barone said he thinks a \"likely scenario\" is that the merger formula will be renegotiated sharply down to about 0.15 Dynegy share for each Enron share.", "path": "kean-s/deleted_items/477."}, "s1234": {"from": "carlos.sole@enron.com", "to": "kay.mann@enron.com", "subject": "ENE", "text": "``It's a death spiral,'' said Edward Jones & Co. analyst Brian Youngberg, who rates Enron ``sell'' and doesn't own the company's shares. ``With the declining share price and debt disclosures, the chance of the deal going through has fallen from about 90 percent to less than 50 percent.'' \nShares of Enron, the third most-active U.S. stock, tumbled as much as 15 percent, dropping for the fourth day in a row. Investors lowered their asking price for the 6.4 percent notes that mature in 2006 to 58 cents on the dollar from 60 cents Friday. Bids to buy bonds were unchanged at 55 cents on the dollar, traders said. The bonds yield 22.55 percent.", "clipped": true, "phrase": "``With the declining share price and debt disclosures, the chance of the deal going through has fallen from about 90 percent to less than 50 percent.''", "path": "mann-k/deleted_items/139."}, "s1243": {"from": "kay.mann@enron.com", "to": "carlos.sole@enron.com", "subject": "RE: ENE", "text": "``It's a death spiral,'' said Edward Jones & Co. analyst Brian Youngberg, who rates Enron ``sell'' and doesn't own the company's shares. ``With the declining share price and debt disclosures, the chance of the deal going through has fallen from about 90 percent to less than 50 percent.'' \nShares of Enron, the third most-active U.S. stock, tumbled as much as 15 percent, dropping for the fourth day in a row. Investors lowered their asking price for the 6.4 percent notes that mature in 2006 to 58 cents on the dollar from 60 cents Friday. Bids to buy bonds were unchanged at 55 cents on the dollar, traders said. The bonds yield 22.55 percent.", "clipped": true, "phrase": "``With the declining share price and debt disclosures, the chance of the deal going through has fallen from about 90 percent to less than 50 percent.''", "path": "mann-k/deleted_items/143."}, "s1221": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions - 11/22/01", "text": "Analysts and energy executives said that Enron's collapse -- though unthinkable just weeks ago -- would be unlikely to cause a meltdown in the nation's energy markets. While Enron has been the nation's biggest trader of electric power and natural gas, many other companies -- including Dynegy -- make markets in those commodities. Analysts say the gradual unfolding of Enron's financial woes this fall has given its trading partners time to unwind deals and limit their exposure to Enron.", "clipped": true, "phrase": "While Enron has been the nation's biggest trader of electric power and natural gas, many other companies -- including Dynegy -- make markets in those commodities.", "path": "kitchen-l/_americas/sec_media/19."}, "s1352": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "Lawsuits have been filed against Enron and top management after a series of surprise disclosures, including the admission the company erred on its financial statements. \nEarlier Wednesday, Dynegy Inc. terminated its merger agreement with Enron, causing Enron shares to close down $3.53, or 85.27 percent, at 61 cents.\n\nCopyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved. \t\n\nUSA: Enron hires Blackstone for corporate advice-source.\n\n11/28/2001\nReuters English News Service\n(C) Reuters Limited 2001.\n\nNEW YORK, Nov 28 (Reuters) - Enron Corp. , the troubled energy trading firm, hired New York-based investment bank Blackstone Group for advice on corporate matters, according to a person familiar with the situation.", "clipped": true, "phrase": "Earlier Wednesday, Dynegy Inc. terminated its merger agreement with Enron, causing Enron shares to close down $3.53, or 85.27 percent, at 61 cents.", "path": "kitchen-l/_americas/sec_media/12."}, "s1364": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "The Wall Street Journal, 11/29/01\nWhy Credit Agencies Didn't Switch Off Enron --- Energy Trading Bears the Brunt Of Enron Woes\nThe Wall Street Journal, 11/29/01\nFall of a Power Giant: Chairman's Deep Political Connections Run Silent\nThe Wall Street Journal, 11/29/01\nDynegy and ChevronTexaco Slide Along With Plunge in Enron Stock\nThe Wall Street Journal, 11/29/01\nDollar Declines Against Yen and Euro Amid Growing Doubts on U.S. Economy\nThe Wall Street Journal, 11/29/01\nDynegy's Move to Disconnect Enron Merger Powers Volatility Spike as Investors Seek Cover\nThe Wall Street Journal, 11/29/01\nEnron Asks Staff to Drop 401(k) Suits for Severance\nThe Wall Street Journal, 11/29/01\nNvidia to Replace Enron in S&P\nThe Wall Street Journal, 11/29/01\nENRON COLLAPSES AS SUITOR CANCELS PLANS FOR MERGER", "clipped": true, "phrase": "Dynegy and ChevronTexaco Slide Along With Plunge in Enron Stock\nThe Wall Street Journal, 11/29/01", "path": "kitchen-l/_americas/sec_media/10."}, "s1325": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "The collapse of the Dynegy purchase would create enormous pressure on Enron's credit profile because of Enron's limited access to capital at a time when extensive debt restructuring is necessary, S&P said. \n\"While it is regrettable to see a leading industry player in difficulties, this doesn't reflect a failure for the energy merchant business,\" Dynegy said in announcing its decision. \nHowever, Dynegy said its energy delivery network and core businesses are solid, and the company and its industry peers are ready to absorb any added volatility in the energy market as the result of the potential loss of Enron. \nIn afternoon trading on the New York Stock Exchange, Enron shares were down $2.91, or 71%, to $1.20. Dynegy, meanwhile, was down $4.08, or 10%, at $36.81, also on the Big Board.", "clipped": true, "phrase": "\"While it is regrettable to see a leading industry player in difficulties, this doesn't reflect a failure for the energy merchant business,\" Dynegy said in announcing its decision.", "path": "kitchen-l/_americas/sec_media/13."}, "s1326": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "\"While it is regrettable to see a leading industry player in difficulties, this doesn't reflect a failure for the energy merchant business,\" Dynegy said in announcing its decision. \nHowever, Dynegy said its energy delivery network and core businesses are solid, and the company and its industry peers are ready to absorb any added volatility in the energy market as the result of the potential loss of Enron. \nIn afternoon trading on the New York Stock Exchange, Enron shares were down $2.91, or 71%, to $1.20. Dynegy, meanwhile, was down $4.08, or 10%, at $36.81, also on the Big Board. \nTop executives of Enron and Dynegy had tried to salvage a deal to combine the two energy-trading companies amid growing signs that Enron faced cash-flow problems as a result of a sharp downturn in its core trading business.", "clipped": true, "phrase": "However, Dynegy said its energy delivery network and core businesses are solid, and the company and its industry peers are ready to absorb any added volatility in the energy market as the result of the potential loss of Enron.", "path": "kitchen-l/_americas/sec_media/13."}, "s1340": {"from": "peggy.mccurley@enron.com", "to": "louise.kitchen@enron.com", "subject": "An article from CBS.MarketWatch.com", "text": "month ago was the largest online energy-trading platform, accounting for an average of $3 billion in trades a day.  Dynegy's trading exposure to Enron is $75 million, and the company is no longer trading with its embattled former merger partner and fellow Houston industrial giant, Bergstrom said.  \"Dynegy's customer-based, asset-backed energy delivery network has been the driver of our 45 percent compounded annual growth rate for the past 16 years and will continue to provide us with earnings sustainability and future growth.\" Watson said.  As part of the deal, Dynegy had the option to keep Northern Natural Gas, Enron's highly valued natural-gas pipeline, even if the agreement were terminated. The company said during the call that it would exercise that option.  ChevronTexaco (CVX ) , which owns a 27 percent stake in Dynegy, originally gave $1.5 billion to the company in the transaction. Dynegy used the money to purchase 100 percent of the preferred shares of Northern", "clipped": true, "phrase": "\"Dynegy's customer-based, asset-backed energy delivery network has been the driver of our 45 percent compounded annual growth rate for the past 16 years and will continue to provide us with earnings sustainability and future growth.\"", "path": "kitchen-l/_americas/esvl/426."}, "s1423": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions- 11/30/01", "text": "gas, power, metals and forest products, compared with 65\nyesterday, spokesman Mark Palmer said. The marketplace normally\noffers about 1,600 products for which Enron is a buyer or seller\nin each transaction.\n\n     The Web site, which used to handle about $2.8 billion a day\nin trades, shut for several hours Wednesday when Dynegy Inc.\npulled out of a planned merger with Enron, which is now poised to\nfile for bankruptcy. Trading with Enron has plunged on concern\nthat the company wouldn't be able to meet its obligations.\n\n     ``People are only making selective trades, unwinding their\npositions'' with Enron, said David Chang, vice president of energy\ntrading at Bank of America in New York. ``People are adding no new\nnet exposure.''\n\n     Trading has shifted to other marketplaces such as the", "clipped": true, "phrase": "shut for several hours Wednesday when Dynegy Inc.\npulled out of a planned merger with Enron", "path": "kitchen-l/_americas/sec_media/3."}, "s1397": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions- 11/30/01", "text": "Dynegy, whose bond rating is under pressure, may face a\nlawsuit from Enron and questions from investors about why it\ndidn't scrutinize Enron's books more closely, the Times said.\nDynegy's decision to back out of the $9 billion acquisition leaves\nEnron on the verge of bankruptcy.\n\n     The Houston-based rival of Enron must now convince investors\nand rating agencies that it has less in common with Enron than it\nsaid earlier this month, the paper said. With Enron out of the\nway, Dynegy may be able to expand its energy trading business.\nHowever, some worry that Enron's collapse has revealed previously\nundiscovered risks that energy trading companies may face, the\nTimes said.\n\n     Dynegy's efforts to buy a natural gas pipeline that is one of", "clipped": true, "phrase": "The Houston-based rival of Enron must now convince investors", "path": "kitchen-l/_americas/sec_media/5."}, "s1480": {"from": "legal <.hall@enron.com>", "to": "susan.amador@enron.com, john.anderson@enron.com, victor.bulbes@enron.com,   \tfran.chang@enron.com, jill.chatterton@enron.com,   \tsean.crandall@enron.com, diane.cutsforth@enron.com,   \tjeff.dasovich@enron.com, craig.dean@enron.com,   \theathe", "subject": "Can UBS Tame Enron's Wild Traders?", "text": "For the scheme to work, however, UBS must persuade Enron's traders to accept its risk-management practices. And that will be tough: One reason Enron's traders made so much is that they took big risks. Analysts estimate that Enron was willing to put as much as $66 million at risk on a trade, vs. $12.2 million at Dynegy or $16 million at Duke Energy. UBS Warburg is willing to put up to $131 million at risk in all of its deals with a single trading partner, but insiders says its energy traders won't be allowed to risk ``anything like that'' on a single trade. UBS'ers abide by tighter controls than at Enron.", "clipped": true, "phrase": "Analysts estimate that Enron was willing to put as much as $66 million at risk on a trade, vs. $12.2 million at Dynegy or $16 million at Duke Energy.", "path": "williams-w3/inbox/7."}, "s3": {"from": "tana.jones@enron.com", "to": "john.suttle@enron.com", "subject": "Dynegy Canada, Inc.", "text": "I am confirming my conversation with you yesterday and my conversation a \nminute ago with Lori Volpi at Dynegy Canada.  As we discussed, Dynegy Canada \nis trading with both ECC and ENA, with the bulk of its trading being done \nwith ECC.  Instead of getting two ISDA Master Agreements in place, we will \nenter into an ISDA Master Agreement between ECC and Dynegy Canada, and then \njust back-to-back any ENA trades down to Houston by virtue of the Services \nAgreement for Financial Agreements we have in place between ECC and ENA.   \nPer my conversation with Lori, this will also work with the EOL trades since \nthe Electronic Trading Agreement provides that any financial trades done for \neither ECC or ENA will be transacted under the respective master agreement in \nplace with either ECC or ENA.\n\nWorks for me...!", "clipped": false, "phrase": "Dynegy Canada \nis trading with both ECC and ENA, with the bulk of its trading being done \nwith ECC.", "path": "jones-t/all_documents/924."}, "s121": {"from": "tana.jones@enron.com", "to": "bradley.diebner@enron.com, tom.moran@enron.com", "subject": "Dynegy Marketing & Trade", "text": "The above counterparty is a really old one that appears to have come online \nbefore we opened up financial power for trading.  It appears they never got \nopened up when it came online.  Can we add them to tomorrow's list to open \nthem for financial power.  Much thanks!", "clipped": false, "phrase": "The above counterparty is a really old one that appears to have come online \nbefore we opened up financial power for trading.  It appears they never got \nopened up when it came online.", "path": "jones-t/all_documents/4994."}, "s124": {"from": "leslie.hansen@enron.com", "to": "tana.jones@enron.com", "subject": "Re: EOL Credit Responses 11/02/00", "text": "Tana:\n\nThe following CPs are not authorized to trade US power products:\n\nAtco Midstream Ltd. - restricted by credit\nDynegy Marketing and Trade - not a current physical power CP/not FERC approved\nDevon Energy Corporation - restricted by credit\nLucent Technologies Inc. - not a current CP/not FERC approved\nNavajo Tribal Utility Authority - not a current CP/not Ferc approved -- This \nCP may have read-only rights for US power products.  I spoke with Dinanna \nDechilly  at Navajo -- they are not interested in trading power at this time \nbut will let me know if they want to at a later date.  If so, I'll follow up \non their authority.", "clipped": true, "phrase": "Dynegy Marketing and Trade - not a current physical power CP/not FERC approved", "path": "jones-t/all_documents/5052."}, "s128": {"from": "melissa.murphy@enron.com", "to": "tana.jones@enron.com", "subject": "Dynegy Power Marketing", "text": "Hi Tana, I spoke to Dynegy this morning and they would like to assign the \ntrades listed on the above attachment from Dynegy Power Marketing, Inc. to \nDynegy Marketing and Trade.\n\nLet me know if you need any further information.\n\nThank you,\nMelissa\n3-1886", "clipped": false, "phrase": "I spoke to Dynegy this morning and they would like to assign the \ntrades listed on the above attachment from Dynegy Power Marketing, Inc. to \nDynegy Marketing and Trade.", "path": "jones-t/all_documents/5105."}, "s129": {"from": "tana.jones@enron.com", "to": "melissa.murphy@enron.com", "subject": "Re: Dynegy Power Marketing", "text": "Are these physical, financial or both?\n\n\tMelissa Ann Murphy\n\t11/07/2000 09:43 AM\n\t\t \n\t\t To: Tana Jones/HOU/ECT@ECT\n\t\t cc: \n\t\t Subject: Dynegy Power Marketing\n\nHi Tana, I spoke to Dynegy this morning and they would like to assign the \ntrades listed on the above attachment from Dynegy Power Marketing, Inc. to \nDynegy Marketing and Trade.\n\nLet me know if you need any further information.\n\nThank you,\nMelissa\n3-1886", "clipped": false, "phrase": "Are these physical, financial or both?", "path": "jones-t/all_documents/5106."}, "s130": {"from": "melissa.murphy@enron.com", "to": "tana.jones@enron.com", "subject": "Re: Dynegy Power Marketing", "text": "They are all financial trades.\n\nThanks,\nMelissa\n\nFrom: Tana Jones on 11/07/2000 09:57 AM\nTo: Melissa Ann Murphy/HOU/ECT@ECT\ncc:  \nSubject: Re: Dynegy Power Marketing  \n\nAre these physical, financial or both?\n\n\tMelissa Ann Murphy\n\t11/07/2000 09:43 AM\n\t\t \n\t\t To: Tana Jones/HOU/ECT@ECT\n\t\t cc: \n\t\t Subject: Dynegy Power Marketing\n\nHi Tana, I spoke to Dynegy this morning and they would like to assign the \ntrades listed on the above attachment from Dynegy Power Marketing, Inc. to \nDynegy Marketing and Trade.\n\nLet me know if you need any further information.\n\nThank you,\nMelissa\n3-1886", "clipped": false, "phrase": "They are all financial trades.", "path": "jones-t/all_documents/5107."}, "s138": {"from": "tana.jones@enron.com", "to": "lisa.lees@enron.com, stephanie.sever@enron.com", "subject": "Counterparty Approval for 11/08/00", "text": "For this list of amends, my comments mean:\n\nCinergy-already had them open for financial & power, Credit's changes should \nhave no impact on my prior approvals.\nDynegy Power Marketing-shut them down for financial (& Argentina gas)\nNui Energy Brokers-already had them open for all financial, OK with Credit's \nchanges.", "clipped": false, "phrase": "Dynegy Power Marketing-shut them down for financial (&amp; Argentina gas)", "path": "jones-t/all_documents/5302."}, "s167": {"from": "melissa.murphy@enron.com", "to": "tana.jones@enron.com", "subject": "Dynegy Power Marketing", "text": "Hi Tana, I noticed that the trades that we need to assign from Dynegy Power \nMarketing to Dynegy Marketing and Trade were all November trades.  The \nsettlements group will be doing their download tonight for November \nbusiness.  Do you think I can change these trades to the correct name today \nor should I wait until the assignment is fully signed.\n\nThanks,\nMelissa\n3-1886", "clipped": false, "phrase": "I noticed that the trades that we need to assign from Dynegy Power \nMarketing to Dynegy Marketing and Trade were all November trades.", "path": "jones-t/all_documents/5635."}, "s168": {"from": "tana.jones@enron.com", "to": "melissa.murphy@enron.com", "subject": "Re: Dynegy Power Marketing", "text": "I've got some changes to make to that assignment and then I'm ready to send \nit to them.  Do you have a contact for me to send it to?\n\n\tMelissa Ann Murphy\n\t11/30/2000 11:06 AM\n\t\t \n\t\t To: Tana Jones/HOU/ECT@ECT\n\t\t cc: \n\t\t Subject: Dynegy Power Marketing\n\nHi Tana, I noticed that the trades that we need to assign from Dynegy Power \nMarketing to Dynegy Marketing and Trade were all November trades.  The \nsettlements group will be doing their download tonight for November \nbusiness.  Do you think I can change these trades to the correct name today \nor should I wait until the assignment is fully signed.\n\nThanks,\nMelissa\n3-1886", "clipped": false, "phrase": "I've got some changes to make to that assignment and then I'm ready to send \nit to them.  Do you have a contact for me to send it to?", "path": "jones-t/all_documents/5642."}, "s170": {"from": "tana.jones@enron.com", "to": "melissa.murphy@enron.com", "subject": "Re: Dynegy Power Marketing", "text": "Thanks, I'll fax it over to her today!\n\n\tMelissa Ann Murphy\n\t11/30/2000 03:27 PM\n\t\t\n\t\t To: Tana Jones/HOU/ECT@ECT\n\t\t cc: \n\t\t Subject: Re: Dynegy Power Marketing\n\nHello,  Latausha McDowell is a contact at Dynegy that you can use. Her phone \nnumber is (713) 767-XXXX and fax is (713) 767-XXXX.\n\nThanks!\nMelissa\n3-1886\n\nFrom: Tana Jones on 11/30/2000 01:36 PM\nTo: Melissa Ann Murphy/HOU/ECT@ECT\ncc:  \nSubject: Re: Dynegy Power Marketing", "clipped": true, "phrase": "Thanks, I'll fax it over to her today!", "path": "jones-t/all_documents/5656."}, "s277": {"from": "tanya.rohauer@enron.com", "to": "susan.bailey@enron.com, stephanie.panus@enron.com, samantha.boyd@enron.com,   \ttana.jones@enron.com", "subject": "Top 10", "text": "The following cps should be Top 10 Status:\n\nDynegy Canada, inc.\nReliant Energy Services Canada, Inc.\nCleco Marketing & Trading LLC\nSmith Barney AAA Energy Fund LP\nXL Trading Partners Ltd\n\nThat is it for now.  We'll see if anymore pop up during the meeting.\n\nThanks,\nTanya", "clipped": false, "phrase": "The following cps should be Top 10 Status:\n\nDynegy Canada, inc.", "path": "jones-t/all_documents/10036."}, "s281": {"from": "lisa.yoho@enron.com", "to": "james.steffes@enron.com, steven.kean@enron.com, richard.shapiro@enron.com", "subject": "WPTF Friday Crazy About U Burrito", "text": "of the country, is set up a little bit differently.\u0001; For example, some\ndesks have a person doing asset-backed trading, but some don't.\u0001; When I\narrived at 6 a.m., Houston time, the Eastern desk was busy in its trade\nday.\u0001; The Western folks hadn't arrived, yet.\u0001; Later, I sat with Randy\nLeForce of the Western desk.\u0001; \"Captain LeForce, to you\", he told me.\u0001; He\ncould talk big because Dave Francis, who sits next to Randy, and hangs\nwitty quotes from the ceiling above his head (\"Even a blind pig could make\nmoney in this market\"), was on vacation.\u0001; As the pace of the trading\ngathered steam, Randy kept an eye on all the different people working the\nWestern trading desk.\u0001; The Captain worked it like a maestro.", "clipped": true, "phrase": "Later, I sat with Randy\nLeForce of the Western desk.", "path": "kean-s/all_documents/5522."}, "s350": {"from": "brian.redmond@enron.com", "to": "sally.beck@enron.com, louise.kitchen@enron.com", "subject": "FW: Imbalances, and A/R", "text": "meet every week until the receivables balance is at zero.\n\nThanks\n\nNext meeting time is:\n Wednesday the 18th\n 4:00\n Conference room 3567\n\nEd, below are the outstanding transportation receivables.\n Mitchell Gas Services, LP  96,960\n Dynegy Marketing 7 Trade  118,892\n Exxon Company USA   73,892\n Entex Gas Marketing   58,127\n PG&E Texas Industrial Energy. LP 200,456", "clipped": true, "phrase": "Dynegy Marketing 7 Trade  118,892", "path": "beck-s/all_documents/587."}, "s352": {"from": "brian.redmond@enron.com", "to": "sally.beck@enron.com, louise.kitchen@enron.com", "subject": "FW: Imbalances, and A/R", "text": "meet every week until the receivables balance is at zero.\n\nThanks\n\nNext meeting time is:\n\tWednesday the 18th\n\t4:00\n\tConference room 3567\n\nEd, below are the outstanding transportation receivables.\n\tMitchell Gas Services, LP\t\t96,960\n\tDynegy Marketing 7 Trade\t\t118,892\n\tExxon Company USA\t\t\t73,892\n\tEntex Gas Marketing\t\t\t58,127\n\tPG&E Texas Industrial Energy. LP\t200,456", "clipped": true, "phrase": "Dynegy Marketing 7 Trade\t\t118,892", "path": "kitchen-l/_americas/hpl/20."}, "s514": {"from": "cara.semperger@enron.com", "to": "shift.portland@enron.com, donald.robinson@enron.com,   \tdiana.scholtes@enron.com", "subject": "Schedule cut on a \"west of Hatwai\" problem for 7/06/01", "text": "Our upstream is Dynegy deal # 570332.1 Mid C HLH\n\nOur Downstream is WWP deal # 339963.1\n\nThe path:\n\nWest Kootenai (G)-BCH(T)JUANITA/BCUS O#M335781A-WKPL-DYPMI-SNPD(T)BPA(T)BCUS/AVA O#96062 HNF-DYPMI-EPMI-WWP  \n\nMONTH LONG TAG 26019\n\nHE 0700-0800 we are warned by SNPD that the transmission MAY BE curtailed to Zero.\n\nWhen I spoke with Susan at WWP she finds this very suspicious, as it was described to her as a \"West of Hatwai\" problem she is suspicious of this and is investigating.\n\nPlease get with DYPMI and get their re-supplied transmission before this schedule flows in the morning.\n\nCara", "clipped": false, "phrase": "Our upstream is Dynegy deal # 570332.1 Mid C HLH", "path": "williams-w3/preschedule/1."}, "s515": {"from": "cara.semperger@enron.com", "to": "shift.portland@enron.com, donald.robinson@enron.com,   \tdiana.scholtes@enron.com", "subject": "Schedule cut on a \"west of Hatwai\" problem for 7/06/01", "text": "Our upstream is Dynegy deal # 570332.1 Mid C HLH\n\nOur Downstream is WWP deal # 339963.1\n\nThe path:\n\nWest Kootenai (G)-BCH(T)JUANITA/BCUS O#M335781A-WKPL-DYPMI-SNPD(T)BPA(T)BCUS/AVA O#96062 HNF-DYPMI-EPMI-WWP  \n\nMONTH LONG TAG 26019\n\nHE 0700-0800 we are warned by SNPD that the transmission MAY BE curtailed to Zero.\n\nWhen I spoke with Susan at WWP she finds this very suspicious, as it was described to her as a \"West of Hatwai\" problem she is suspicious of this and is investigating.\n\nPlease get with DYPMI and get their re-supplied transmission before this schedule flows in the morning.\n\nCara", "clipped": false, "phrase": "Please get with DYPMI and get their re-supplied transmission before this schedule flows in the morning.", "path": "williams-w3/preschedule/1."}, "s516": {"from": "bert.meyers@enron.com", "to": "test.volume@enron.com", "subject": "TAG 26235", "text": "To Whom It May Concern:\n\nNEVP called at 21:00 and informed us the cut.  Dynegy was not able to resupply the energy so I bought APS tranny and power from EPE for $70.00 and will show it in the EL PASO model as a sell from EPE to DYNEGY 8MW @ $70 Palo Verde.  The Tranny from APS was $3.50, and I will show an annuity for this amount billed to Dynegy.  I built two annuities for the tranny purchase from APS and its subsequent billing to Dynegy (674830 & 674831).  The EPEC deals that relate to the cut are 674832 and 674833.\n\nPlease call me with any questions.\n\nRegards,\n\nBert Meyers", "clipped": false, "phrase": "Dynegy was not able to resupply the energy so I bought APS tranny and power from EPE for $70.00 and will show it in the EL PASO model as a sell from EPE to DYNEGY 8MW @ $70 Palo Verde.", "path": "williams-w3/bill_williams_iii/755."}, "s517": {"from": "bert.meyers@enron.com", "to": "test.volume@enron.com", "subject": "TAG 26235", "text": "To Whom It May Concern:\n\nNEVP called at 21:00 and informed us the cut.  Dynegy was not able to resupply the energy so I bought APS tranny and power from EPE for $70.00 and will show it in the EL PASO model as a sell from EPE to DYNEGY 8MW @ $70 Palo Verde.  The Tranny from APS was $3.50, and I will show an annuity for this amount billed to Dynegy.  I built two annuities for the tranny purchase from APS and its subsequent billing to Dynegy (674830 & 674831).  The EPEC deals that relate to the cut are 674832 and 674833.\n\nPlease call me with any questions.\n\nRegards,\n\nBert Meyers", "clipped": false, "phrase": "The Tranny from APS was $3.50, and I will show an annuity for this amount billed to Dynegy.", "path": "williams-w3/bill_williams_iii/755."}, "s543": {"from": "b..sanders@enron.com", "to": "paul.simons@enron.com", "subject": "RE: Potential dispute with Dynegy", "text": "-----Original Message-----\nFrom: \tSimons, Paul  \nSent:\tWednesday, July 18, 2001 5:14 AM\nTo:\tHaedicke, Mark E.; Sanders, Richard B.\nCc:\tLewis, Richard; Hastings, Simon\nSubject:\tPotential dispute with Dynegy\nImportance:\tHigh\n\nMark/Richard\n\nWe are looking at a possible dispute with Dynegy in relation a UK electricity trading contract.\n\nPart of our assessment of whether we want to resolve the issue by expert determination rather than by compromise is going to be driven by the extent to which we feel we need to make the point to Dynegy that we are prepared to square up for a fight when we need to and not compromise.", "clipped": true, "phrase": "We are looking at a possible dispute with Dynegy in relation a UK electricity trading contract.", "path": "sanders-r/sent_items/311."}, "s544": {"from": "b..sanders@enron.com", "to": "paul.simons@enron.com", "subject": "RE: Potential dispute with Dynegy", "text": "Importance:\tHigh\n\nMark/Richard\n\nWe are looking at a possible dispute with Dynegy in relation a UK electricity trading contract.\n\nPart of our assessment of whether we want to resolve the issue by expert determination rather than by compromise is going to be driven by the extent to which we feel we need to make the point to Dynegy that we are prepared to square up for a fight when we need to and not compromise.\n\nIn making this assessment our relationship with Dynegy in the US (and elsewhere) - in particular whether we have or have had any/many disputes with Dynegy - will be very instructive.\n\nPlease could you drop me a quick email or vmail with a thumb-nail sketch of any current and past disputes with Dynegy.\n\nMany thanks\n\nPaul\n\nx36566", "clipped": true, "phrase": "we feel we need to make the point to Dynegy that we are prepared to square up for a fight", "path": "sanders-r/sent_items/311."}, "s545": {"from": "m..presto@enron.com", "to": "s..bradford@enron.com", "subject": "04 Counterparties", "text": "Louise indicated that credit has agreed to allow credit-worthy counterparties to trade through 2004.   The following are the counterparties East Power would like to have 04 access on EOL.\n\nDynegy\nDuke\nBP Energy\nAquilla\nMorgan Stanley\nEl Paso\nWilliams\nReliant\nAEP\nConstellation\nCalpine\nMerrill Lynch\nAllegheny\nConectiv\nMirant\n\nPlease let me know ASAP who gets approved and when EOL will grant trading rights.\n\nThanks.", "clipped": false, "phrase": "Dynegy\nDuke\nBP Energy\nAquilla", "path": "kitchen-l/_americas/east_power/137."}, "s546": {"from": "r..brackett@enron.com", "to": "louise.kitchen@enron.com", "subject": "FW: 04 Counterparties", "text": "Kevin's aware we'll need to come up with a pricing mechanism  on the longer dated trades?\n\n -----Original Message-----\nFrom: \tKitchen, Louise  \nSent:\tFriday, July 20, 2001 10:04 AM\nTo:\tBrackett, Debbie R.\nSubject:\tFW: 04 Counterparties\n\n -----Original Message-----\nFrom: \tPresto, Kevin M.  \nSent:\tFriday, July 20, 2001 9:29 AM\nTo:\tBradford, William S.\nCc:\tKitchen, Louise\nSubject:\t04 Counterparties\n\nLouise indicated that credit has agreed to allow credit-worthy counterparties to trade through 2004.   The following are the counterparties East Power would like to have 04 access on EOL.\n\nDynegy\nDuke\nBP Energy\nAquilla\nMorgan Stanley\nEl Paso\nWilliams\nReliant\nAEP\nConstellation\nCalpine\nMerrill Lynch\nAllegheny\nConectiv\nMirant\n\nPlease let me know ASAP who gets approved and when EOL will grant trading rights.\n\nThanks.", "clipped": false, "phrase": "Louise indicated that credit has agreed to allow credit-worthy counterparties to trade through 2004.", "path": "kitchen-l/_americas/east_power/135."}, "s562": {"from": "jay.webb@enron.com", "to": "john.lavorato@enron.com, louise.kitchen@enron.com, greg.piper@enron.com,   \tjohn.arnold@enron.com", "subject": "limit order usage today", "text": "Conoco Inc.\nConsolidated Edison Solutions, Inc.\nConstellation Power Source, Inc.\nCook Inlet Energy Supply L.L.C.\nCoral Energy Canada Inc.\nCoral Energy Holding L.P.\nCoral Energy Resources, L.P.\nCross Timbers Energy Services, Inc.\nDTE Energy Trading, Inc.\nDuke Energy Trading and Marketing, L.L.C.\nDynegy Canada Inc.\nDynegy Marketing and Trade\nDynegy Power Marketing, Inc.\nEl Paso Merchant Energy, L.P.\nEnron Energy Services, Inc.\nEntergy-Koch Trading, LP\nFirstEnergy Services Corp.\nHQ Energy Services (U.S.) Inc.\nHess Energy Trading Company LLC\nJ. Aron & Company\nKinder Morgan Texas Pipeline, L.P.\nLouis Dreyfus Corporation\nMarathon Oil Company\nMieco Inc.\nMirant Americas Energy Marketing, L.P.\nNJR Energy Services Company\nNRG Power Marketing Inc.\nNexen Marketing\nNicor Gas Company\nNorthern Indiana Public Service Company", "clipped": true, "phrase": "Dynegy Canada Inc.\nDynegy Marketing and Trade\nDynegy Power Marketing, Inc.", "path": "kitchen-l/_americas/eol/152."}, "s588": {"from": "rahil.jafry@enron.com", "to": "louise.kitchen@enron.com", "subject": "Fw: Rahil Jafry: USA:   UPDATE 4-Dynegy hits upper end of Q3   earnings targets.", "text": "2000.\n\nAmong other things, Dynegy trades wholesale natural gas, power, coal, emission\nallowances and weather derivatives.\n\nThe company attributed part of its improved performance this quarter to better\nresults in European and Canadian operations, including increased gas marketing\nin Canada.\n\nNorth American natural gas volumes grew 12 percent to 11.0 billion cubic feet\nper day (Bcf/d) in the quarter, rising from 9.8 Bcf/d in the year-earlier\nperiod. Total physical power sales increased 86 percent to 90.5 million\nmegawatt hours (MWh) in the 2001 third quarter, compared with 48.7 million MWh\nin the same quarter a year ago.\n\nDynegydirect, the company's online trading platform for more than 750 products\nand services, recorded nearly $10 billion in transactions in the third\nquarter, the company said. Since its birth in November 2000, Dynegydirect has\nrecorded $33 billion in transactions.", "clipped": true, "phrase": "North American natural gas volumes grew 12 percent to 11.0 billion cubic feet\nper day (Bcf/d) in the quarter, rising from 9.8 Bcf/d in the year-earlier\nperiod.", "path": "kitchen-l/_americas/east_power/32."}, "s642": {"from": "louise.kitchen@enron.com", "to": "andy.zipper@enron.com", "subject": "RE: open interest on EOL", "text": "Thanks\n\nI think they're behind us.\n\n -----Original Message-----\nFrom: \tZipper, Andy  \nSent:\tWednesday, October 24, 2001 12:41 PM\nTo:\tKitchen, Louise\nSubject:\topen interest on EOL\n\nAfter some preliminary analysis, it does not look like our big counterparties i.e. Dynegy, Rliant, Duke, El Paso etc., are closing down their positions. On the contrary their net positions seem to be rising. This is only for NYMEX related financial instruments, I haven't looked at phys or power yet.\n\nJust thought you would like to know.", "clipped": false, "phrase": "it does not look like our big counterparties i.e. Dynegy, Rliant, Duke, El Paso etc., are closing down their positions. On the contrary their net positions seem to be rising.", "path": "kitchen-l/sent_items/642."}, "s659": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "Moody's has put Enron's credit on watch for possible downgrade, and some of the company's debt is trading like junk bonds in the secondary market this week. \n\"We have made no changes to our credit policy concerning Enron,\" said John Sousa, chief spokesmann for Dynegy Inc. (DYN). \"It's business as usual.\" \nWilliams Cos. (WMB) spokesman Jim Gipson said that his company, too, has made no changes and has no concerns about Enron's credit. Another Top 10 power and gas trading company, Aquila (ILA), has also left Enron credit unchanged. \nOther companies expressed concern, though they've taken little if any action.", "clipped": true, "phrase": "\"We have made no changes to our credit policy concerning Enron,\" said John Sousa, chief spokesmann for Dynegy Inc. (DYN). \"It's business as usual.\"", "path": "kitchen-l/_americas/sec_media/71."}, "s678": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions", "text": "So far, that's not enough to get companies to stop doing business with the Houston-based giant. \n\"We continue to do business with Enron,\" said John Sousa, spokesman for Dynegy Inc. (DYN). \"We consider them a strong counterparty. There's no reason not to do business with them.\" \n\nWith another negative event, the gas and power industries' circling of the wagons around Enron could become a game of chicken. The consensus among credit risk managers is that the industry shouldn't have a knee-jerk reaction, but they also don't want to be the last out, one credit risk manager said. \n\"Once a few majors cut them off, you don't want to be the last one to cut,\" the credit manager said.", "clipped": true, "phrase": "\"We continue to do business with Enron,\" said John Sousa, spokesman for Dynegy Inc. (DYN). \"We consider them a strong counterparty. There's no reason not to do business with them.\"", "path": "kitchen-l/_americas/sec_media/56."}, "s656": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "by a third this week due to uncertainties about its extremely complex financial\nstructure. \n\n  Moody's has put Enron's credit on watch for possible downgrade, and some of\nthe company's debt is trading like junk bonds in the secondary market this\nweek. \n\n  \"We have made no changes to our credit policy concerning Enron,\" said John\nSousa, chief spokesmann for Dynegy Inc. (DYN). \"It's business as usual.\" \n\n  Williams Cos. (WMB) spokesman Jim Gipson said that his company, too, has made\nno changes and has no concerns about Enron's credit. Another Top 10 power and\ngas trading company, Aquila (ILA), has also left Enron credit unchanged. \n\n  Other companies expressed concern, though they've taken little if any action.\n\n  \"Like everyone else in the marketplace, we're proceeding with caution,\" said", "clipped": true, "phrase": "\"We have made no changes to our credit policy concerning Enron,\" said John\nSousa, chief spokesmann for Dynegy Inc. (DYN). \"It's business as usual.\"", "path": "kean-s/deleted_items/265."}, "s657": {"from": "mark.koenig@enron.com", "to": "pr <.palmer@enron.com>, j..kean@enron.com, paula.rieker@enron.com", "subject": "FW: DJ Concerned Energy Cos Make Few Changes In Enron Dealings", "text": "financial structure. \n  Moody's has put Enron's credit on watch for possible downgrade, and some\nof \nthe company's debt is trading like junk bonds in the secondary market this \nweek. \n  \"We have made no changes to our credit policy concerning Enron,\" said John\n\nSousa, chief spokesmann for Dynegy Inc. (DYN). \"It's business as usual.\" \n  Williams Cos. (WMB) spokesman Jim Gipson said that his company, too, has \nmade no changes and has no concerns about Enron's credit. Another Top 10\npower \nand gas trading company, Aquila (ILA), has also left Enron credit unchanged.\n\n  Other companies expressed concern, though they've taken little if any \naction. \n  \"Like everyone else in the marketplace, we're proceeding with caution,\"\nsaid", "clipped": true, "phrase": "Sousa, chief spokesmann for Dynegy Inc. (DYN). \"It's business as usual.\"", "path": "kean-s/deleted_items/278."}, "s658": {"from": "louise.kitchen@enron.com", "to": "a..shankman@enron.com", "subject": "FW: Enron Mentions", "text": "by a third this week due to uncertainties about its extremely complex financial\nstructure. \n\n  Moody's has put Enron's credit on watch for possible downgrade, and some of\nthe company's debt is trading like junk bonds in the secondary market this\nweek. \n\n  \"We have made no changes to our credit policy concerning Enron,\" said John\nSousa, chief spokesmann for Dynegy Inc. (DYN). \"It's business as usual.\" \n\n  Williams Cos. (WMB) spokesman Jim Gipson said that his company, too, has made\nno changes and has no concerns about Enron's credit. Another Top 10 power and\ngas trading company, Aquila (ILA), has also left Enron credit unchanged. \n\n  Other companies expressed concern, though they've taken little if any action.\n\n  \"Like everyone else in the marketplace, we're proceeding with caution,\" said", "clipped": true, "phrase": "\"We have made no changes to our credit policy concerning Enron,\" said John\nSousa, chief spokesmann for Dynegy Inc. (DYN). \"It's business as usual.\"", "path": "kitchen-l/sent_items/607."}, "s664": {"from": "m..schmidt@enron.com", "to": "j..kean@enron.com, karen.denne@enron.com, pr <.palmer@enron.com>,   \tvance.meyer@enron.com, meredith.philipp@enron.com", "subject": "ONCE-MIGHTY ENRON STRAINS UNDER SCRUTINY", "text": "\"The issue that's in the front of everybody's mind right now is credit,\" said Mark Gurley, senior vice president and general manager for trading at Aquila Inc., one of the nation's largest energy traders. Aquila is based in Kansas City, Mo. \nFor now, Aquila and other major energy traders and producers, including Reliant Energy, the El Paso Corp. and Dynegy, are continuing to do business with Enron. And Gurley said that Enron's own trading in the electricity and natural gas markets did not suggest the sort of frenzied selling reminiscent of the collapse of Long-Term Capital Management in 1998. \n\"They haven't done anything trading-wise that gives me any indication they are closing their books down,\" he said.", "clipped": true, "phrase": "For now, Aquila and other major energy traders and producers, including Reliant Energy, the El Paso Corp. and Dynegy, are continuing to do business with Enron.", "path": "kean-s/pr_crisis_management/99."}, "s665": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "''The issue that's in the front of everybody's mind right now is credit,'' said Mark Gurley, senior vice president and general manager for trading at Aquila Inc., one of the nation's largest energy traders. Aquila is based in Kansas City, Mo. \nFor now, Aquila and other major energy traders and producers, including Reliant Energy, the El Paso Corporation and Dynegy, are continuing to do business with Enron. And Mr. Gurley said that Enron's own trading in the electricity and natural gas markets did not suggest the sort of frenzied selling reminiscent of the collapse of Long-Term Capital Management in 1998. \n''They haven't done anything trading-wise that gives me any indication they are closing their books down,'' he said.", "clipped": true, "phrase": "For now, Aquila and other major energy traders and producers, including Reliant Energy, the El Paso Corporation and Dynegy, are continuing to do business with Enron.", "path": "kean-s/inbox/42."}, "s671": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions", "text": "said Andy Palmer, who doesn't own Enron bonds in the $1.25 billion\nhe helps manage at ASB Capital Management Inc.\n\n     Enron default protection has risen from less than 3 percent\nper year, a price that is common for similarly rated companies.\nOther energy traders' such as Williams Cos. Inc. and Dynegy Inc.\nboth have default insurance premiums below 2 percent per year,\ntraders said.\n\n     The increase in Enron's credit default swaps ``may be\noverstating the default risk,'' said Palmer. The purchasers of the\ndefault swaps are mainly banks that have loan exposure to Enron\nand ``banks are not as price-sensitive as institutional\ninvestors,'' said Palmer. ``They just want to get the exposure off\ntheir books.''\n\n     Principal Capital, which is an institutional investor, said", "clipped": true, "phrase": "Other energy traders' such as Williams Cos. Inc. and Dynegy Inc.\nboth have default insurance premiums below 2 percent per year,\ntraders said.", "path": "kitchen-l/_americas/sec_media/62."}, "s672": {"from": "jay.webb@enron.com", "to": "louise.kitchen@enron.com, john.lavorato@enron.com, j..kean@enron.com,   \tpr <.palmer@enron.com>", "subject": "trade counts through 11:00 am", "text": "10/25/2001\t7112\t\n10/26/2001\t5609\t\n10/27/2001\t10\t\n10/28/2001\t2\t\n10/29/2001\t5341\t\n10/30/2001\t4682\t\n10/31/2001\t5461\t\n\nSame data by counterparty, also showing percentage today versus last-two-week average, is in the enclosed spreadsheet.  Most counterparties are at or near typical rate.  Many of the larger counterparties are trading at a faster pace (Aquilla, Dynegy, Reliant in particular).  AEP, Calpine, Cinergy Marketing, Sempra and Mirant are at least 50% off their typical pace, particularly AEP and Calpine.\n\n \n\n--jay", "clipped": true, "phrase": "Many of the larger counterparties are trading at a faster pace (Aquilla, Dynegy, Reliant in particular).", "path": "kitchen-l/_americas/eol/85."}, "s718": {"from": "chairman.ken@enron.com", "to": "dl-ga-all_enron_worldwide@enron.com", "subject": "Dynegy Discussions", "text": "Enron and Dynegy each announced today that they are holding discussions about a possible merger of the two companies.  As you know, Dynegy is a major player in the energy marketplace, and is not only a competitor, but also a counterparty of Enron.  This is just one of several options that we are considering.\n\nUpon receipt of this announcement, the NYSE briefly suspended trading of both Enron and Dynegy.  We have no additional information we can share at this time.  We'll keep you updated as developments occur.", "clipped": false, "phrase": "Dynegy is a major player in the energy marketplace, and is not only a competitor, but also a counterparty of Enron.", "path": "mann-k/inbox/264."}, "s720": {"from": "geoff.storey@enron.com", "to": "louise.kitchen@enron.com", "subject": "Mirant", "text": "I have talked with them about phys rings. But the primary counterparty i was going to use was Dynegy. The trading wanted to make some money to do the deal, but i'm not sure where we stand with the other Dynegy stuff going on. So i'm on a holding pattern with Mirant unless you have any suggestions. geof", "clipped": false, "phrase": "But the primary counterparty i was going to use was Dynegy.", "path": "kitchen-l/_americas/esvl/592."}, "s856": {"from": "tim.belden@enron.com", "to": "john.lavorato@enron.com, louise.kitchen@enron.com, robert.badeer@enron.com,   \tmike.swerzbin@enron.com, matt.motley@enron.com,   \tsean.crandall@enron.com, chris.mallory@enron.com,   \ttom.alonso@enron.com, mark.fischer@enron.com, m..presto@e", "subject": "", "text": "There was no cash trading today due to Veterans Day.  Few utilities were in as a result.  Here is what we saw today.\n\nWon't Take Our Name\nAEP\nMirant\nPowerex\n\nLimited Tenor\nMorgan Stanley (< 90 days)\nReliant (Balance of the year)\nAllegheny (Balance of the year)\n\nWill Only Buy From Us\nEl Paso\nTransalta\nDynegy\nCoral\nAquila\nCalpine\n\nWill Sell to Us Only\nIdacorp\n\nDeal by Deal\nSempra", "clipped": false, "phrase": "Will Only Buy From Us\nEl Paso\nTransalta\nDynegy\nCoral\nAquila\nCalpine", "path": "kitchen-l/_americas/esvl/567."}, "s839": {"from": "jean.mrha@enron.com", "to": "louise.kitchen@enron.com", "subject": "Appropriate Transactions", "text": "Louise,\n\nI am under the assumption that we should be moving forward with the sale of Pluto/MEGS to Duke Energy Field Services as well as the sale of the Napoleonville Land to Texas Brine.  In addition, I am trying to work out a transaction to sell the pad gas in Dow Wells 13 & 14 to an outside counterparty that would be leasing that storage capacity from Dow.\n\nAre there any types of transactions that would be \"inappropriate\" to close?  For example, if we do an outsourcing deal for three years, how do we know that Dynegy will honor the contract?\n\nRegards, Jean", "clipped": false, "phrase": "For example, if we do an outsourcing deal for three years, how do we know that Dynegy will honor the contract?", "path": "kitchen-l/_americas/mrha/10."}, "s891": {"from": "jay.webb@enron.com", "to": "louise.kitchen@enron.com", "subject": "8:15 trade counts", "text": "10/18/2001\t1748\t\n10/17/2001\t1608\t\n10/16/2001\t1680\t\n10/15/2001\t1323\t\n10/14/2001\t8\t\n10/13/2001\t5\t\n10/12/2001\t1454\t\n10/11/2001\t1542\t\n10/10/2001\t1334\t\n10/9/2001\t1462\t\n10/8/2001\t1446\t\n10/7/2001\t3\t\n10/6/2001\t4\t\n10/5/2001\t1539\t\n10/4/2001\t1716\t\n10/3/2001\t1310\t\n10/2/2001\t1240\t\n10/1/2001\t1354\t\n\nThe big counterparties that are still far off typical pace are:\n\n\tAEP\n\tDynegy\t\n\tMirant\n\tRefco Overseas\n\tThe Bank of Nova Scotia\n\tCargill\n\nSempra is back with a vengeance.  I don't know what that is about.\n\n--jay", "clipped": true, "phrase": "The big counterparties that are still far off typical pace are:\n\n\tAEP\n\tDynegy", "path": "kitchen-l/_americas/esvl/560."}, "s899": {"from": "loretta.brooks@enron.com", "to": "louise.kitchen@enron.com, s..bradford@enron.com", "subject": "FW:", "text": "-----Original Message-----\nFrom: \tBelden, Tim  \nSent:\tMonday, November 12, 2001 4:05 PM\nTo:\tLavorato, John; Kitchen, Louise; Badeer, Robert; Swerzbin, Mike; Motley, Matt; Crandall, Sean; Mallory, Chris; Alonso, Tom; Fischer, Mark; Presto, Kevin M.\nSubject:\t\n\nThere was no cash trading today due to Veterans Day.  Few utilities were in as a result.  Here is what we saw today.\n\nWon't Take Our Name\nAEP\nMirant\nPowerex\n\nLimited Tenor\nMorgan Stanley (< 90 days)\nReliant (Balance of the year)\nAllegheny (Balance of the year)\n\nWill Only Buy From Us\nEl Paso\nTransalta\nDynegy\nCoral\nAquila\nCalpine\n\nWill Sell to Us Only\nIdacorp\n\nDeal by Deal\nSempra", "clipped": false, "phrase": "Will Only Buy From Us\nEl Paso\nTransalta\nDynegy", "path": "kitchen-l/_americas/esvl/557."}, "s903": {"from": "melanie.gray@weil.com", "to": "b..sanders@enron.com", "subject": "Perry Gas", "text": "I have sent the proposed 40% offers to Jim Keller, Michael Tribolet, and\nyou, but -- understandably -- have heard nothing back.\n\nI just wanted to remind you that this is out there if you have any interest\nin liquidating your Perry Gas claims at this point.  Given that the payout\nwill probably take another 12 months, the last dollars would go to Dynegy.\nIf asked for my recommendation, it would be to sell them at this point.\n\nI'm happy to give you more exact numbers of the amount of the claims and\nwhat the payout would be if you're interested.  Thanks so much.\n\nI'll call later about setting up a meeting.  Thanks.\n\n**********NOTE**********\nThe information contained in this email message is intended only\nfor use of the individual or entity named above.  If the reader", "clipped": true, "phrase": "Given that the payout\nwill probably take another 12 months, the last dollars would go to Dynegy.", "path": "sanders-r/deleted_items/499."}, "s974": {"from": "the.buzz@enron.com", "to": "", "subject": "the Buzz, Friday, November 16, 2001 (Additions)", "text": "Customer Information and Support: Prior to and following Enron's merger with Dynegy, customers have expressed many questions about EES and where we stand on our contracts. A letter along with a Q&A about EES' position was distributed to customers on November 14 outlining our continued commitment to our contracts and our ongoing efforts to provide excellent customer support. Click here  to read the letter and Q&A sheet.", "clipped": true, "phrase": "Prior to and following Enron's merger with Dynegy, customers have expressed many questions about EES and where we stand on our contracts.", "path": "kean-s/deleted_items/325."}, "s983": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions - 11/17/01 - 11/18/01", "text": "Copyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved. \t\n\nAquila Energy Makes Provision for Dynegy Withdrawal, FT Says\n2001-11-18 19:52 (New York)\n\n     Houston, Nov. 19 (Bloomberg) -- Aquila Energy Corp. is one of\nseveral energy traders limiting its trading with Enron Corp. in\ncase Dynegy Inc. pulls out of its bid for the company, the\nFinancial Times said, citing Aquila.\n\n     Aquila said it began making contingency plans in case Dynegy\nwithdrew from its $24 billion takeover of Enron, the paper\nreported.\n\n     Enron, the largest energy trader, decided to sell after its\nshares plunged this year and a federal investigation of accounting\nirregularities limited its ability to finance operations. Enron's\ncollapse would have caused upheaval in energy markets, where the", "clipped": true, "phrase": "Aquila Energy Corp. is one of\nseveral energy traders limiting its trading with Enron Corp. in\ncase Dynegy Inc. pulls out of its bid for the company", "path": "kean-s/deleted_items/369."}, "s984": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions - 11/17/01 - 11/18/01", "text": "2001-11-18 19:52 (New York)\n\n     Houston, Nov. 19 (Bloomberg) -- Aquila Energy Corp. is one of\nseveral energy traders limiting its trading with Enron Corp. in\ncase Dynegy Inc. pulls out of its bid for the company, the\nFinancial Times said, citing Aquila.\n\n     Aquila said it began making contingency plans in case Dynegy\nwithdrew from its $24 billion takeover of Enron, the paper\nreported.\n\n     Enron, the largest energy trader, decided to sell after its\nshares plunged this year and a federal investigation of accounting\nirregularities limited its ability to finance operations. Enron's\ncollapse would have caused upheaval in energy markets, where the\ncompany does one-quarter of all gas and power trades.\n\n     Dynegy's agreement to buy Enron allows it to withdraw from", "clipped": true, "phrase": "Aquila said it began making contingency plans in case Dynegy\nwithdrew from its $24 billion takeover of Enron", "path": "kean-s/deleted_items/369."}, "s1036": {"from": "bill.williams@enron.com", "to": "shift.dl-portland@enron.com", "subject": "Checkouts", "text": "have two new Enpower applications currently in use by the Prescheduling Group that are also available for Real Time use. A manual has been placed in your inbox describing the process in detail. You will be using this in place of Lotus Notes to confirm and process cut power schedules going forward. You must check out with all major marketers and utilities each night. This would include but not be limited to: AEP, AES-New Energy, Aquila, Avista, Calpine, Constellation, Coral, Duke, Dynegy, El Paso Merchant, Exelon, Meico, Mirant, Morgan, NCPA, Reliant, PPLMontana, PowerX, Sempra, SMUD, TransAlta, Williams, and southwest utilities such as Pinnacle West, SRP, PNM, PSCO and Pacificorp. Northwest counterparties are checked out by BPA and do not need to be checked again by us (this would include SCL, TCL, PSPL, BPAP, GCPUD, EWEB, IPC, MPC, SNPD, WWP). These checkouts should be started in HE 19 and finished by HE 21.", "clipped": true, "phrase": "You must check out with all major marketers and utilities each night. This would include but not be limited to: AEP, AES-New Energy, Aquila, Avista, Calpine, Constellation, Coral, Duke, Dynegy", "path": "williams-w3/sent_items/86."}, "s1113": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions- 11/21/01", "text": "But Duane Grubert, an analyst with Sanford C. Bernstein and Co., said, \"Dynegy will do what it needs to make sure the deal will prevail.\" \nOfficials with Enron and Dynegy, both Houston-based, said reports of trading problems were incorrect and the merger was not in trouble. \n\"We continue to do business with Enron. We are one of their largest customers and they are one of our largest customers,\" Dynegy spokesman John Sousa said. \nLate Monday, Enron filed restated third-quarter earnings that increased its loss for the period by 3 cents a share to 87 cents. The company also disclosed it is trying to restructure a $690 million obligation that could come due Nov. 27. \nEnron spokeswoman Karen Denne said the company has received verbal indications it will be given more time to pay off the debt.", "clipped": true, "phrase": "\"We continue to do business with Enron. We are one of their largest customers and they are one of our largest customers,\" Dynegy spokesman John Sousa said.", "path": "kitchen-l/_americas/sec_media/23."}, "s1168": {"from": "f..calger@enron.com", "to": "j..kean@enron.com", "subject": "Potential Dynegy Transactions", "text": "Steve,\n \nI think you may have heard a request last week re working closely with Dynegy.  I think we just need to treat them like other counterparties.  Basically, West Power would like to enter into arms length physical power and service transactions with Dynegy.  My understanding is that Dynegy is a separate, unrelated party until the merger closes.  Therefore, we can not \"collaborate\" with them commercially and our transaction policy is dictated by customary credit, legal and risk management procedures.  Is this correct?   If so, how do you feel about the following?", "clipped": true, "phrase": "My understanding is that Dynegy is a separate, unrelated party until the merger closes.", "path": "kean-s/deleted_items/456."}, "s1171": {"from": "j..kean@enron.com", "to": "legal <.schuler@enron.com>", "subject": "FW: Potential Dynegy Transactions", "text": "k re working closely with Dynegy.  I think we just need to treat them like other counterparties.  Basically, West Power would like to enter into arms length physical power and service transactions with Dynegy.  My understanding is that Dynegy is a separate, unrelated party until the merger closes.  Therefore, we can not \"collaborate\" with them commercially and our transaction policy is dictated by customary credit, legal and risk management procedures.  Is this correct?   If so, how do you feel about the following?", "clipped": true, "phrase": "Therefore, we can not \"collaborate\" with them commercially and our transaction policy is dictated by customary credit, legal and risk management procedures.", "path": "kean-s/sent_items/609."}, "s1169": {"from": "f..calger@enron.com", "to": "j..kean@enron.com", "subject": "Potential Dynegy Transactions", "text": "Steve,\n \nI think you may have heard a request last week re working closely with Dynegy.  I think we just need to treat them like other counterparties.  Basically, West Power would like to enter into arms length physical power and service transactions with Dynegy.  My understanding is that Dynegy is a separate, unrelated party until the merger closes.  Therefore, we can not \"collaborate\" with them commercially and our transaction policy is dictated by customary credit, legal and risk management procedures.  Is this correct?   If so, how do you feel about the following?", "clipped": true, "phrase": "Basically, West Power would like to enter into arms length physical power and service transactions with Dynegy.", "path": "kean-s/deleted_items/456."}, "s1170": {"from": "f..calger@enron.com", "to": "j..kean@enron.com", "subject": "Potential Dynegy Transactions", "text": "one year.  The customer requires Enron to post collateral.  Enron does not want to post collateral but suggests that Enron can provide the product/services to Dynegy and Dynegy can then sell to the customer.  The Enron marketer calls the Dynegy marketer and proposes a \"back to back\" transaction.   Dynegy adds a small service fee, the Enron/Dynegy contract is executed and a Dynegy/Customer contract is executed.  \n \nThis type of deal happens frequently - it is usually driven by the third party having better credit, transmission access or a complementary service.  We could do this with anyone, but the obvious choice is Dynegy - customers think it makes sense, and ultimately if we merge we have retained a customer.  \n \nDo you think this works?\n \nRegards,\n \nChris", "clipped": true, "phrase": "Dynegy adds a small service fee, the Enron/Dynegy contract is executed and a Dynegy/Customer contract is executed.", "path": "kean-s/deleted_items/456."}, "s1172": {"from": "j..kean@enron.com", "to": "legal <.schuler@enron.com>", "subject": "FW: Potential Dynegy Transactions", "text": "This type of deal happens frequently - it is usually driven by the third party having better credit, transmission access or a complementary service.  We could do this with anyone, but the obvious choice is Dynegy - customers think it makes sense, and ultimately if we merge we have retained a customer.  \n \nDo you think this works?\n \nRegards,\n \nChris", "clipped": true, "phrase": "We could do this with anyone, but the obvious choice is Dynegy - customers think it makes sense, and ultimately if we merge we have retained a customer.", "path": "kean-s/sent_items/609."}, "s1284": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions- 11/27/01", "text": "Some other companies, like Dynegy Inc. (DYN), Duke Energy Corp. (DUK) and BP PLC. (BP), continue to trade with Enron fairly freely, the broker said. Dynegy has reached an agreement to acquire Enron, though the terms of that deal are being renegotiated. The trading subsidiaries of troubled California utility-holding companies PG&E Corp. (PCG) and Edison International (EIX) also are trading with Enron.", "clipped": true, "phrase": "Some other companies, like Dynegy Inc. (DYN), Duke Energy Corp. (DUK) and BP PLC. (BP), continue to trade with Enron fairly freely, the broker said.", "path": "kean-s/deleted_items/505."}, "s1295": {"from": "carlos.sole@enron.com", "to": "kay.mann@enron.com", "subject": "FW: Enron mentions 112701 4 p.m.", "text": "Some other companies, like Dynegy Inc. (DYN), Duke Energy Corp. (DUK) and BP PLC. (BP), continue to trade with Enron fairly freely, the broker said. Dynegy has reached an agreement to acquire Enron, though the terms of that deal are being renegotiated. The trading subsidiaries of troubled California utility-holding companies PG&E Corp. (PCG) and Edison International (EIX) also are trading with Enron.", "clipped": true, "phrase": "Some other companies, like Dynegy Inc. (DYN), Duke Energy Corp. (DUK) and BP PLC. (BP), continue to trade with Enron fairly freely, the broker said.", "path": "mann-k/deleted_items/179."}, "s1298": {"from": "john.lavorato@enron.com", "to": "greg.whalley@enron.com", "subject": "", "text": "Greg,\n\n1.  We can include the sithe agreement in the master netting agreement although we do not believe that this will work for Dynegy as it is not a forward contract but an annuity stream which cannot be accelerated, however if they think it works - fine.  We would not want the margin calculated net (it needs to be exclusive of this transaction).  If they were to convert to two swaps in order to allow for acceleration in the master netting agreement, there is an accounting issue for us.\n\n2.  In the East we are long physical power from them in the markets which are not pools.  We are short to them in the pools which clear financially and we have no issues in the pools.  So we do not need to do anything.  I'll have the west soon. \n\n3.  We will have our physical gas position by point soon.  We will agree to prepay for all of Dec but we should only pay day by day.", "clipped": false, "phrase": "We can include the sithe agreement in the master netting agreement although we do not believe that this will work for Dynegy as it is not a forward contract but an annuity stream which cannot be accelerated", "path": "kitchen-l/_americas/esvl/438."}, "s1299": {"from": "john.lavorato@enron.com", "to": "greg.whalley@enron.com", "subject": "", "text": "Greg,\n\n1.  We can include the sithe agreement in the master netting agreement although we do not believe that this will work for Dynegy as it is not a forward contract but an annuity stream which cannot be accelerated, however if they think it works - fine.  We would not want the margin calculated net (it needs to be exclusive of this transaction).  If they were to convert to two swaps in order to allow for acceleration in the master netting agreement, there is an accounting issue for us.\n\n2.  In the East we are long physical power from them in the markets which are not pools.  We are short to them in the pools which clear financially and we have no issues in the pools.  So we do not need to do anything.  I'll have the west soon. \n\n3.  We will have our physical gas position by point soon.  We will agree to prepay for all of Dec but we should only pay day by day.", "clipped": false, "phrase": "We will agree to prepay for all of Dec but we should only pay day by day.", "path": "kitchen-l/_americas/esvl/438."}, "s1305": {"from": "s..bradford@enron.com", "to": "louise.kitchen@enron.com", "subject": "FW: ICE Counterparty Filter Change Notice [Dynegy Marketing and   Trade]", "text": "Counterparty: Dynegy Marketing and Trade\nCredit Manager: Tom   White\nDate/Time: November 28, 2001 14:03:34.036 GMT\nPhone: 713/767-XXXX \nE-Mail: Thomas.White@dynegy.com \n\nThe counterparty changed the following credit filter data affecting your firm for Financial Power.\nCredit Filter Attribute       \tPreviously     \tNow\nOpen or closed                \tOpen           \tClosed", "clipped": true, "phrase": "Credit Filter Attribute       \tPreviously     \tNow\nOpen or closed                \tOpen           \tClosed", "path": "kitchen-l/_americas/esvl/435."}, "s1324": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "UK: Enron - a pioneer of Europe's new power markets.\nReuters English News Service, 11/28/01\nUSA: WRAPUP 2-Enron near collapse after Dynegy pulls out.\nReuters English News Service, 11/28/01\nUSA: US energy regulator says \"monitoring\" Enron situation.\nReuters English News Service, 11/28/01\nUSA: Dynegy says no longer trading with Enron.\nReuters English News Service, 11/28/01\nUSA: Enron seeks to preserve value after Dynegy pullout.\nReuters English News Service, 11/28/01\nUSA: UPDATE 1-EnronOnline trading system shuts down.\nReuters English News Service, 11/28/01\nUSA: UPDATE 1-Key US lawmaker doesn't see govt solution on Enron.\nReuters English News Service, 11/28/01\nUK: UK power prices rally, Enron news dims trade.\nReuters English News Service, 11/28/01", "clipped": true, "phrase": "USA: Dynegy says no longer trading with Enron.", "path": "kitchen-l/_americas/sec_media/13."}, "s1338": {"from": "peggy.mccurley@enron.com", "to": "louise.kitchen@enron.com", "subject": "An article from CBS.MarketWatch.com", "text": "peak,\" Bergstrom said. \"Dynegydirect is a highly scalable platform.\"  Dynegydirect is a platform much like Enron's flagship EnronOnline, which it turned off Wednesday and which just a month ago was the largest online energy-trading platform, accounting for an average of $3 billion in trades a day.  Dynegy's trading exposure to Enron is $75 million, and the company is no longer trading with its embattled former merger partner and fellow Houston industrial giant, Bergstrom said.  \"Dynegy's customer-based, asset-backed energy delivery network has been the driver of our 45 percent compounded annual growth rate for the past 16 years and will continue to provide us with earnings sustainability and future growth.\" Watson said.  As part of the deal, Dynegy had the option to keep Northern Natural Gas, Enron's highly valued natural-gas pipeline, even if the agreement were terminated. The company said during the call that it wou", "clipped": true, "phrase": "Dynegy's trading exposure to Enron is $75 million, and the company is no longer trading with its embattled former merger partner and fellow Houston industrial giant, Bergstrom said.", "path": "kitchen-l/_americas/esvl/426."}, "s1388": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions", "text": "Credit Lyonnais Securities Inc. ``Investors still need to be\ncautious about this industry, because there are a lot of\nunanswered questions.''\n\n     Reliant Resources Inc. said it faces $80 million in losses\nfrom transactions with Enron involving electricity and natural gas\nsales.\n\n     Dynegy said it faces $75 million in losses, though it plans\nto exercise its option under the buyout agreement to take the\nNorthern Natural Gas system in exchange for a $1.5 billion\ninvestment in Enron. Mirant Corp., an Atlanta-based energy trader,\nsaid it would lose no more than $60 million.\n\n     Aquila Inc., American Electric Power Co. and El Paso Corp.\nsaid each estimated their exposure to Enron at $50 million.\n\n                            More Losses", "clipped": true, "phrase": "Dynegy said it faces $75 million in losses, though it plans", "path": "kitchen-l/_americas/sec_media/6."}, "s1331": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "Power traders in Alberta have a bit of an edge over other regions because of Alberta Watt Exchange, or Watt-Ex, has been supporting liquidity in the market. \nWatt-Ex, an independent on-line exchange for trading forward and real-time contracts, gained more volumes last month after recruiting Dynegy Canada Inc. to maintain bids and offers on forward contracts traded on its system. \nAnd volumes on ICE have picked up substantially since Monday, other traders said, giving credence to a more optimistic picture one analyst painted. \n\"Other companies will rise up and swallow Enron's share of volumes,\" Bill Gwazd, with Ziff Energy Group, said. \"The world will blink but trading will not stop.\" \n-- By Dina O'Meara, Dow Jones Newswires; 403-531-XXXX dina.omeara@dowjones.com", "clipped": true, "phrase": "gained more volumes last month after recruiting Dynegy Canada Inc. to maintain bids and offers on forward contracts traded on its system", "path": "kitchen-l/_americas/sec_media/13."}, "s1411": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions- 11/30/01", "text": "To get an idea of how messy this all is, look at one troubled transaction Thursday for Saturday delivery of electricity to a utility. The utility bought power from Sempra Energy (SRE), which had bought it from El Paso (EPG), which bought from Dynegy (DYN), which bought from PG&E (PCG), which bought from Aquila (ILA), which bought from El Paso subsidiary Engage, which bought from Enron, which bought from Mirant, which bought from British Columbia's BC Hydro, which bought from TransAlta (T.TA), which will generate the power Saturday from its Centralia power plant in Washington state. TransAlta probably sold the power over a year ago. \nMirant Balks", "clipped": true, "phrase": "The utility bought power from Sempra Energy (SRE), which had bought it from El Paso (EPG), which bought from Dynegy (DYN)", "path": "kitchen-l/_americas/sec_media/4."}, "s1422": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions- 11/30/01", "text": "that the company wouldn't be able to meet its obligations.\n\n     ``People are only making selective trades, unwinding their\npositions'' with Enron, said David Chang, vice president of energy\ntrading at Bank of America in New York. ``People are adding no new\nnet exposure.''\n\n     Trading has shifted to other marketplaces such as the\nIntercontinental Exchange, Dynegy Direct and the New York\nMercantile Exchange, traders said.\n\n                        Trading Disrupted?\n\n     Users of the system reported that EnronOnline stopped\nfunctioning at 2 p.m. for about 15 minutes today, shortly after\nEnron announced that it was dismissing 1,100 of its U.K.\nemployees. The companied denied service was interrupted.\n\n     Enron still isn't offering its full spectrum of products,\nsaid Kyle Cooper, an analyst at Salomon Smith Barney in Houston.", "clipped": true, "phrase": "Trading has shifted to other marketplaces such as the\nIntercontinental Exchange, Dynegy Direct and the New York\nMercantile Exchange, traders said.", "path": "kitchen-l/_americas/sec_media/3."}, "s1436": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "By Kristen McNamara and Jon Kamp\nOf DOW JONES NEWSWIRES\n\n12/03/2001\nDow Jones Energy Service\n(Copyright (c) 2001, Dow Jones & Company, Inc.)\n\nNEW YORK -(Dow Jones)- U.S. energy markets were largely unmoved Monday by Enron Corp.'s (ENE) filing for Chapter 11 over the weekend. \nEnergy companies generally maintained their suspensions on trading with Enron and were casting a sharper eye on Dynegy Inc. (DYN), which is being sued by Enron for wrongfully terminating its offer to acquire the one-time market leader.\nNo company was known to have altered its business with Dynegy, and many traders showed little concern about Enron's suit, but companies did say they were monitoring the situation. \nMajor energy trader Aquila Corp. (ILA) was trading normally with Dynegy but monitoring the situation. \n\"That situation could change depending on how people evaluate it,\" spokesman Al Butkus said. \"It's a very fluid situation.\"", "clipped": true, "phrase": "Energy companies generally maintained their suspensions on trading with Enron and were casting a sharper eye on Dynegy Inc. (DYN), which is being sued by Enron for wrongfully terminating its offer to acquire the one-time market leader.", "path": "kitchen-l/_americas/sec_media/2."}, "s1437": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "Energy companies generally maintained their suspensions on trading with Enron and were casting a sharper eye on Dynegy Inc. (DYN), which is being sued by Enron for wrongfully terminating its offer to acquire the one-time market leader.\nNo company was known to have altered its business with Dynegy, and many traders showed little concern about Enron's suit, but companies did say they were monitoring the situation. \nMajor energy trader Aquila Corp. (ILA) was trading normally with Dynegy but monitoring the situation. \n\"That situation could change depending on how people evaluate it,\" spokesman Al Butkus said. \"It's a very fluid situation.\" \nFirstEnergy Corp. (FE) said it was also monitoring Dynegy's compliance with its credit requirements. \n\"This is a situation that we're following closely,\" spokesman Ralph DiNicola said.", "clipped": true, "phrase": "No company was known to have altered its business with Dynegy, and many traders showed little concern about Enron's suit, but companies did say they were monitoring the situation.", "path": "kitchen-l/_americas/sec_media/2."}, "s1438": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "Major energy trader Aquila Corp. (ILA) was trading normally with Dynegy but monitoring the situation. \n\"That situation could change depending on how people evaluate it,\" spokesman Al Butkus said. \"It's a very fluid situation.\" \nFirstEnergy Corp. (FE) said it was also monitoring Dynegy's compliance with its credit requirements. \n\"This is a situation that we're following closely,\" spokesman Ralph DiNicola said. \nCompanies continued to do business normally with Dynegy, an energy broker said. \nPrices for North American power and gas weren't moved by Enron's filing, which was widely expected. Factors such as weather and longer-term supply fundamentals continued to dominate the power and gas markets.", "clipped": true, "phrase": "FirstEnergy Corp. (FE) said it was also monitoring Dynegy's compliance with its credit requirements.", "path": "kitchen-l/_americas/sec_media/2."}, "s1434": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "difficult to resurrect,'' Fitch Inc., a Chicago-based firm that\nrates corporate credit, said in a report today.\n\n     Trading has surged in markets that compete with Enron,\nincluding the New York Mercantile Exchange and Intercontinental\nExchange Inc. Dynegy Inc. Chief Executive Officer Chuck Watson\nsaid his company's energy-trading Web site has seen increased\ntraffic.\n\n     ``EnronOnline will just disappear,'' said Peter Fusaro,\npresident of Global Change Associates Inc., a consulting firm in\nNew York. Enron's portfolio of trades ``is evaporating'' and ``is\nreplaceable'' with competing electronic trading platforms.\n\n     Dynegy's Watson said on a conference call with analysts and\ninvestors that his company would try to expand in Europe, where\nEnron was the dominant energy trader. Enron said Friday it would", "clipped": true, "phrase": "Dynegy Inc. Chief Executive Officer Chuck Watson\nsaid his company's energy-trading Web site has seen increased\ntraffic.", "path": "kitchen-l/_americas/sec_media/2."}, "s1446": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "Since Oct. 1, the number of customers executing agreements on DynegyDirect, Dynegy's online trading platform, has increased 20% and Dynegy's physical trading business also has increased, Mr. Bergstrom told analysts yesterday. \"We continue to experience a clear flight to quality by customers,\" he said. \"We will not be distracted by these events.\"", "clipped": true, "phrase": "Since Oct. 1, the number of customers executing agreements on DynegyDirect, Dynegy's online trading platform, has increased 20% and Dynegy's physical trading business also has increased, Mr. Bergstrom told analysts yesterday.", "path": "kitchen-l/_americas/sec_media/1."}, "s1447": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "\"They [Dynegy] didn't have a legitimate reason for backing away from the deal,\" said Mr. Palmer, the Enron spokesman. \nMr. Bergstrom called Enron's lawsuit the equivalent of a \"drowning man grabbing for something on the way down.\" \nMr. Bergstrom said that Dynegy \"likely won't do any\" post-bankruptcy business with Enron, \"at least until they recognize our claim on Northern Natural.\" He added that \"no amount of money can restore Dynegy's confidence and credibility with Enron.\" \nDynegy has been growing at a breathtaking rate. Driven by gains from buying an Illinois utility and power-generator in early 2000, Dynegy's net income more than quadrupled to $500.51 million in fiscal 2000 from fiscal 1999. Dynegy was expecting to report earnings up 40% this fiscal year, Mr. Bergstrom said.", "clipped": true, "phrase": "Mr. Bergstrom said that Dynegy \"likely won't do any\" post-bankruptcy business with Enron, \"at least until they recognize our claim on Northern Natural.\"", "path": "kitchen-l/_americas/sec_media/1."}, "s1448": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "Mr. Bergstrom called Enron's lawsuit the equivalent of a \"drowning man grabbing for something on the way down.\" \nMr. Bergstrom said that Dynegy \"likely won't do any\" post-bankruptcy business with Enron, \"at least until they recognize our claim on Northern Natural.\" He added that \"no amount of money can restore Dynegy's confidence and credibility with Enron.\" \nDynegy has been growing at a breathtaking rate. Driven by gains from buying an Illinois utility and power-generator in early 2000, Dynegy's net income more than quadrupled to $500.51 million in fiscal 2000 from fiscal 1999. Dynegy was expecting to report earnings up 40% this fiscal year, Mr. Bergstrom said.", "clipped": true, "phrase": "He added that \"no amount of money can restore Dynegy's confidence and credibility with Enron.\"", "path": "kitchen-l/_americas/sec_media/1."}, "s1466": {"from": "louise.kitchen@enron.com", "to": "richard.a.stuckey@ssmb.com", "subject": "List of Topn 50 counterparties", "text": "Rick,\t\nThe list below is our Top 50 counterparty list.  We intend to send our suggested credit headrooms tomorrow morning.\t\nLouise\t\n\t\nAquila\t\nAEP\t\nDynegy\t\nDuke\t\nReliant\t\nMirant\t\nCoral\t\nSempra\t\nCook Inlet Energy Supply L.L.C.\t\nEl Paso\t\nWilliams\t\nTexaco Natural Gas Inc.\t\nTransCanada\t\nEntergy-Koch\t\nBP Energy Company\t\nCinergy\t\nMidAmerican Energy Company\t\nEl Paso Merchant Energy - Gas, L.P.\t\nPG&E Energy Trading-Gas Corporation\t\nBP Corporation North America Inc.\t\nTenaska Marketing Ventures\t\nEnserco Energy, Inc.\t\nCalpine\t\nUtilicorp United Inc.\t\nConstellation Power Source, Inc.\t\nConectiv Energy Supply, Inc.", "clipped": true, "phrase": "Aquila\t\nAEP\t\nDynegy\t\nDuke\t\nReliant", "path": "kitchen-l/sent_items/420."}, "s1467": {"from": "s..bradford@enron.com", "to": "louise.kitchen@enron.com", "subject": "RE: List of Topn 50 counterparties", "text": "Here is a start on the list.  We have a meeting with UBS in the AM to review as well.  Obviously, I am putting limits that we would be willing to extend from a Credit Perspective only.  Taking into account liquidity and commercial drivers may adjust these numbers.  Let me know if you would like to discuss.\n\nRegards,\nBill\n\n -----Original Message-----\nFrom: \tKitchen, Louise  \nSent:\tThursday, January 03, 2002 3:43 PM\nTo:\tBradford, William S.\nSubject:\tFW: List of Topn 50 counterparties\n\n -----Original Message-----\nFrom: \tKitchen, Louise  \nSent:\tThursday, January 03, 2002 3:42 PM\nTo:\t'richard.a.stuckey@ssmb.com'", "clipped": true, "phrase": "Here is a start on the list.  We have a meeting with UBS in the AM to review as well.  Obviously, I am putting limits that we would be willing to extend from a Credit Perspective only.", "path": "kitchen-l/_americas/netco_credit/12."}, "s1468": {"from": "louise.kitchen@enron.com", "to": "elena.t.matrullo@ssmb.com, richard.a.stuckey@ssmb.com", "subject": "FW: List of Topn 50 counterparties", "text": "This is our initial proposal.  Please feel free to contact Bill.\n\n -----Original Message-----\nFrom: \tBradford, William S.  \nSent:\tFriday, January 04, 2002 8:01 AM\nTo:\tKitchen, Louise\nSubject:\tRE: List of Topn 50 counterparties\n\n \n\n -----Original Message-----\nFrom: \tKitchen, Louise  \nSent:\tThursday, January 03, 2002 3:42 PM\nTo:\t'richard.a.stuckey@ssmb.com'\nSubject:\tList of Topn 50 counterparties\n\t\nAquila\t\nAEP\t\nDynegy\t\nDuke\t\nReliant\t\nMirant\t\nCoral\t\nSempra\t\nCook Inlet Energy Supply L.L.C.\t\nEl Paso\t\nWilliams", "clipped": true, "phrase": "This is our initial proposal.  Please feel free to contact Bill.", "path": "kitchen-l/sent_items/404."}, "s1": {"from": "tana.jones@enron.com", "to": "greg.johnston@enron.com", "subject": "Re: Dynegy Canada Inc.", "text": "Greg,\n\nIt appears we send Dynegy Canada a draft ISDA in July of 1999, and got no \nresponse from them.  We will need to update the ISDA we sent them in July \nsince our form has changed since then.  Once we get the go ahead from John \nSuttle in Credit as to whether we need to update the credit, we will prepare \nthe ISDA Master Agreement you have requested.", "clipped": false, "phrase": "we send Dynegy Canada a draft ISDA in July of 1999, and got no \nresponse from them.", "path": "jones-t/all_documents/906."}, "s2": {"from": "tana.jones@enron.com", "to": "greg.johnston@enron.com", "subject": "Re: Dynegy Canada Inc.", "text": "Greg,\n\nIt appears we send Dynegy Canada a draft ISDA in July of 1999, and got no \nresponse from them.  We will need to update the ISDA we sent them in July \nsince our form has changed since then.  Once we get the go ahead from John \nSuttle in Credit as to whether we need to update the credit, we will prepare \nthe ISDA Master Agreement you have requested.", "clipped": false, "phrase": "We will need to update the ISDA we sent them in July \nsince our form has changed since then.", "path": "jones-t/all_documents/906."}, "s4": {"from": "tana.jones@enron.com", "to": "john.suttle@enron.com", "subject": "Dynegy Canada, Inc.", "text": "I am confirming my conversation with you yesterday and my conversation a \nminute ago with Lori Volpi at Dynegy Canada.  As we discussed, Dynegy Canada \nis trading with both ECC and ENA, with the bulk of its trading being done \nwith ECC.  Instead of getting two ISDA Master Agreements in place, we will \nenter into an ISDA Master Agreement between ECC and Dynegy Canada, and then \njust back-to-back any ENA trades down to Houston by virtue of the Services \nAgreement for Financial Agreements we have in place between ECC and ENA.   \nPer my conversation with Lori, this will also work with the EOL trades since \nthe Electronic Trading Agreement provides that any financial trades done for \neither ECC or ENA will be transacted under the respective master agreement in \nplace with either ECC or ENA.\n\nWorks for me...!", "clipped": false, "phrase": "we will \nenter into an ISDA Master Agreement between ECC and Dynegy Canada, and then \njust back-to-back any ENA trades down to Houston", "path": "jones-t/all_documents/924."}, "s9": {"from": "tana.jones@enron.com", "to": "bob.bowen@enron.com, jefferson.sorenson@enron.com, laurel.adams@enron.com,   \tandrea.guillen@enron.com, willie.harrell@enron.com,   \tlarry.hunter@enron.com, melba.lozano@enron.com,   \tchris.walker@enron.com, david.dupre@enron.com,   \tpamela", "subject": "Dynegy Canada Inc.", "text": "We have received the following executed Master Agreement:\n\nNOTE:   This master appears to have been signed in 1996 and didn't make its \nway down to Houston until now.\n\nType of Contract: Master Agreement (ECT Canada Form)\n\nEffective Date:  06/16/95\n\nExecuted Date:  06/24/96\n\nEnron Entity:  Enron Capital and Trade Resources Canada Corp., now known as \nEnron Canada Corp.\n\nCounterparty:  Originally, NOVAGAS CLEARINGHOUSE LIMITED PARTNERSHIP, now \nthrough name changes and merger, DYNEGY CANADA INC.\n\nTransactions Covered: Energy price swaps or option transactions only (no pulp \n& paper, weather, interest rate & currency or FX)\n\nGLOBAL CONTRACTS:  We need to get this master inputted immediately into the", "clipped": true, "phrase": "Type of Contract: Master Agreement (ECT Canada Form)\n\nEffective Date:  06/16/95\n\nExecuted Date:  06/24/96", "path": "jones-t/all_documents/1045."}, "s11": {"from": "tana.jones@enron.com", "to": "bob.bowen@enron.com, jefferson.sorenson@enron.com, laurel.adams@enron.com,   \tandrea.guillen@enron.com, willie.harrell@enron.com,   \tlarry.hunter@enron.com, melba.lozano@enron.com,   \tchris.walker@enron.com, david.dupre@enron.com,   \tpamela", "subject": "Dynegy Canada Inc.", "text": "Effective Date:  06/16/95\n\nExecuted Date:  06/24/96\n\nEnron Entity:  Enron Capital and Trade Resources Canada Corp., now known as \nEnron Canada Corp.\n\nCounterparty:  Originally, NOVAGAS CLEARINGHOUSE LIMITED PARTNERSHIP, now \nthrough name changes and merger, DYNEGY CANADA INC.\n\nTransactions Covered: Energy price swaps or option transactions only (no pulp \n& paper, weather, interest rate & currency or FX)\n\nGLOBAL CONTRACTS:  We need to get this master inputted immediately into the \nEnronOnline System so all of the confirmations for ENA and ECC will \nimmediately roll up under this master.\n\nCONFIRM DESK:  Please immediately start rolling up all the ENA and ECC trades \nunder this master, whether online, offline, or brokered trades.", "clipped": true, "phrase": "Transactions Covered: Energy price swaps or option transactions only", "path": "jones-t/all_documents/1045."}, "s10": {"from": "tana.jones@enron.com", "to": "bob.bowen@enron.com, jefferson.sorenson@enron.com, laurel.adams@enron.com,   \tandrea.guillen@enron.com, willie.harrell@enron.com,   \tlarry.hunter@enron.com, melba.lozano@enron.com,   \tchris.walker@enron.com, david.dupre@enron.com,   \tpamela", "subject": "Dynegy Canada Inc.", "text": "We have received the following executed Master Agreement:\n\nNOTE:   This master appears to have been signed in 1996 and didn't make its \nway down to Houston until now.\n\nType of Contract: Master Agreement (ECT Canada Form)\n\nEffective Date:  06/16/95\n\nExecuted Date:  06/24/96\n\nEnron Entity:  Enron Capital and Trade Resources Canada Corp., now known as \nEnron Canada Corp.\n\nCounterparty:  Originally, NOVAGAS CLEARINGHOUSE LIMITED PARTNERSHIP, now \nthrough name changes and merger, DYNEGY CANADA INC.\n\nTransactions Covered: Energy price swaps or option transactions only (no pulp", "clipped": true, "phrase": "This master appears to have been signed in 1996 and didn't make its \nway down to Houston until now.", "path": "jones-t/all_documents/1045."}, "s13": {"from": "tana.jones@enron.com", "to": "tanya.rohauer@enron.com", "subject": "Re: Dynegy Canada Inc.", "text": "Novagas has a long and tortured history...when you've got a few hours and \nwant to be incredibly bored I'll share it with you.  Let's just say that \nCanada has been the only one aware of this signed master.  You can quote my \nsomewhat eloquent words \"if it ain't in Legal it ain't!\"", "clipped": false, "phrase": "Canada has been the only one aware of this signed master.", "path": "jones-t/all_documents/1047."}, "s12": {"from": "tana.jones@enron.com", "to": "bob.bowen@enron.com, jefferson.sorenson@enron.com, laurel.adams@enron.com,   \tandrea.guillen@enron.com, willie.harrell@enron.com,   \tlarry.hunter@enron.com, melba.lozano@enron.com,   \tchris.walker@enron.com, david.dupre@enron.com,   \tpamela", "subject": "Dynegy Canada Inc.", "text": "& paper, weather, interest rate & currency or FX)\n\nGLOBAL CONTRACTS:  We need to get this master inputted immediately into the \nEnronOnline System so all of the confirmations for ENA and ECC will \nimmediately roll up under this master.\n\nCONFIRM DESK:  Please immediately start rolling up all the ENA and ECC trades \nunder this master, whether online, offline, or brokered trades.", "clipped": true, "phrase": "Please immediately start rolling up all the ENA and ECC trades \nunder this master, whether online, offline, or brokered trades.", "path": "jones-t/all_documents/1045."}, "s15": {"from": "susan.flynn@enron.com", "to": "jefferson.sorenson@enron.com, laurel.adams@enron.com,   \tandrea.guillen@enron.com, larry.hunter@enron.com,   \tdavid.dupre@enron.com, chris.walker@enron.com,   \tjarrod.cyprow@enron.com, pamela.sonnier@enron.com,   \tsheetal.patel@enron.com, s", "subject": "Acquisition of certain assets of Columbia Energy Services   Corporation - Financial Trading Matters", "text": "transactions that are not covered by a Columbia Master Agreement (financial \ntrading).    We are in the process of transferring the Columbia transactions \nto ENA Master Agreements and terminating the Columbia Master Agreements, when \npossible.  \n\n Received Today\n We have received the executed Transfer and Termination Agreement between ENA \nand Duke Energy Trading and Marketing, L.L.C. (\"Duke\"), dated effective as of \nJanuary 1, 2000.   This agreement terminates the ISDA Master Agreement \nbetween Columbia and Duke, dated as of January 8, 1998, and transfers the \nTransactions thereunder to the ISDA Master Agreement between ENA and Duke, \ndated as of October 17, 1997. \n\n Previously Received\n\n We have received the executed Assignment Agreement between ENA and Bank of \nMontreal (\"BOM\"), dated effective as of January 18, 2000.   This agreement", "clipped": true, "phrase": "We have received the executed Transfer and Termination Agreement between ENA \nand Dynegy Marketing and Trade, f/k/a Natural Gas Clearinghouse (\"Dynegy\"), \ndated effective as of January 1, 2000.", "path": "jones-t/all_documents/1087."}, "s18": {"from": "susan.flynn@enron.com", "to": "jefferson.sorenson@enron.com, laurel.adams@enron.com,   \tandrea.guillen@enron.com, larry.hunter@enron.com,   \tdavid.dupre@enron.com, chris.walker@enron.com,   \tjarrod.cyprow@enron.com, pamela.sonnier@enron.com,   \tsheetal.patel@enron.com, s", "subject": "Acquisition of certain assets of Columbia Energy Services   Corporation - Financial Trading", "text": "transactions that are not covered by a Columbia Master Agreement (financial \ntrading).    We are in the process of transferring the Columbia transactions \nto ENA Master Agreements and terminating the Columbia Master Agreements, when \npossible.  \n\n Received Today\n We have received the executed Transfer and Termination Agreement between ENA \nand Delamrva Power & Light Company (\"Delmarva\"), dated effective as of \nJanuary 1, 2000.   This agreement terminates the ISDA Master Agreement \nbetween Columbia and Delmarva, dated as of January 26, 1999, and transfers \nthe Transactions thereunder to the ISDA Master Agreement between ENA and \nDelmarva, dated as of  March 12, 1998.\n\n We have received the executed Transfer and Termination Agreement between ENA \nand El Paso Merchant Energy-Gas, L.P.  (\"El Paso\"), dated effective as of \nJanuary 1, 2000.   This agreement terminates (i) the ISDA Master Agreement", "clipped": true, "phrase": "We have received the executed Transfer and Termination Agreement between ENA \nand Dynegy Marketing and Trade, f/k/a Natural Gas Clearinghouse (\"Dynegy\"), \ndated effective as of January 1, 2000.", "path": "jones-t/all_documents/1137."}, "s21": {"from": "susan.flynn@enron.com", "to": "jefferson.sorenson@enron.com, laurel.adams@enron.com,   \tandrea.guillen@enron.com, larry.hunter@enron.com,   \tdavid.dupre@enron.com, chris.walker@enron.com,   \tjarrod.cyprow@enron.com, pamela.sonnier@enron.com,   \tsheetal.patel@enron.com, s", "subject": "Acquisition of certain assets of Columbia Energy Services   Corporation - Financial Trading", "text": "between Columbia and Delmarva, dated as of January 26, 1999, and transfers \nthe Transactions thereunder to the ISDA Master Agreement between ENA and \nDelmarva, dated as of  March 12, 1998.  \n\n We have received the executed Transfer and Termination Agreement between ENA \nand Dynegy Marketing and Trade, f/k/a Natural Gas Clearinghouse (\"Dynegy\"), \ndated effective as of January 1, 2000.   This agreement terminates the ISDA \nMaster Agreement between Columbia and Dynegy, dated as of December 1, 1998, \nand transfers the Transactions thereunder to the Master Agreement between ENA \nand Dynegy, dated as of January 27, 1992.\n We have received the executed Transfer and Termination Agreement between ENA \nand Duke Energy Trading and Marketing, L.L.C. (\"Duke\"), dated effective as of", "clipped": true, "phrase": "and Dynegy Marketing and Trade, f/k/a Natural Gas Clearinghouse (\"Dynegy\"),", "path": "jones-t/all_documents/1258."}, "s41": {"from": "susan.flynn@enron.com", "to": "jefferson.sorenson@enron.com, laurel.adams@enron.com,   \tandrea.guillen@enron.com, larry.hunter@enron.com,   \tdavid.dupre@enron.com, chris.walker@enron.com,   \tjarrod.cyprow@enron.com, pamela.sonnier@enron.com,   \tsheetal.patel@enron.com, s", "subject": "Acquisition of certain assets of Columbia Energy Services   Corporation - Financial Trading", "text": "between Columbia and Delmarva, dated as of January 26, 1999, and transfers \nthe Transactions thereunder to the ISDA Master Agreement between ENA and \nDelmarva, dated as of  March 12, 1998.  \n\n We have received the executed Transfer and Termination Agreement between ENA \nand Dynegy Marketing and Trade, f/k/a Natural Gas Clearinghouse (\"Dynegy\"), \ndated effective as of January 1, 2000.   This agreement terminates the ISDA \nMaster Agreement between Columbia and Dynegy, dated as of December 1, 1998, \nand transfers the Transactions thereunder to the Master Agreement between ENA \nand Dynegy, dated as of January 27, 1992.\n We have received the executed Transfer and Termination Agreement between ENA \nand Duke Energy Trading and Marketing, L.L.C. (\"Duke\"), dated effective as of", "clipped": true, "phrase": "and Dynegy Marketing and Trade, f/k/a Natural Gas Clearinghouse (\"Dynegy\"), \ndated effective as of January 1, 2000.", "path": "jones-t/all_documents/2459."}, "s16": {"from": "susan.flynn@enron.com", "to": "jefferson.sorenson@enron.com, laurel.adams@enron.com,   \tandrea.guillen@enron.com, larry.hunter@enron.com,   \tdavid.dupre@enron.com, chris.walker@enron.com,   \tjarrod.cyprow@enron.com, pamela.sonnier@enron.com,   \tsheetal.patel@enron.com, s", "subject": "Acquisition of certain assets of Columbia Energy Services   Corporation - Financial Trading Matters", "text": "ISDA Master Agreement between ENA and CIBC, dated as of October 1, 1994.    \n\nWe have received the executed Transfer and Termination Agreement between ENA \nand Dynegy Marketing and Trade, f/k/a Natural Gas Clearinghouse (\"Dynegy\"), \ndated effective as of January 1, 2000.   This agreement terminates the ISDA \nMaster Agreement between Columbia and Dynegy, dated as of December 1, 1998, \nand transfers the Transactions thereunder to the Master Agreement between ENA \nand Dynegy, dated as of January 27, 1992.\n We have received the executed Transfer and Termination Agreement between ENA \nand Entergy Power Marketing Corp. (\"Entergy\"), dated effective as of January \n1, 2000.   This agreement terminates the ISDA Master Agreement between \nColumbia and Entergy, dated as of December 4, 1997, and transfers the \nTransactions thereunder to the Master Agreement between ENA and Entergy, \ndated as of December 9, 1996.", "clipped": true, "phrase": "This agreement terminates the ISDA \nMaster Agreement between Columbia and Dynegy, dated as of December 1, 1998, \nand transfers the Transactions thereunder to the Master Agreement between ENA \nand Dynegy, dated as of January 27, 1992.", "path": "jones-t/all_documents/1087."}, "s17": {"from": "susan.flynn@enron.com", "to": "jefferson.sorenson@enron.com, laurel.adams@enron.com,   \tandrea.guillen@enron.com, larry.hunter@enron.com,   \tdavid.dupre@enron.com, chris.walker@enron.com,   \tjarrod.cyprow@enron.com, pamela.sonnier@enron.com,   \tsheetal.patel@enron.com, s", "subject": "Acquisition of certain assets of Columbia Energy Services   Corporation - Financial Trading Matters", "text": "ISDA Master Agreement between ENA and CIBC, dated as of October 1, 1994.    \n\n We have received the executed Transfer and Termination Agreement between ENA \nand Dynegy Marketing and Trade, f/k/a Natural Gas Clearinghouse (\"Dynegy\"), \ndated effective as of January 1, 2000.   This agreement terminates the ISDA \nMaster Agreement between Columbia and Dynegy, dated as of December 1, 1998, \nand transfers the Transactions thereunder to the Master Agreement between ENA \nand Dynegy, dated as of January 27, 1992.\n We have received the executed Transfer and Termination Agreement between ENA \nand Duke Energy Trading and Marketing, L.L.C. (\"Duke\"), dated effective as of \nJanuary 1, 2000.   This agreement terminates the ISDA Master Agreement \nbetween Columbia and Duke, dated as of January 8, 1998, and transfers the \nTransactions thereunder to the ISDA Master Agreement between ENA and Duke, \ndated as of October 17, 1997.", "clipped": true, "phrase": "This agreement terminates the ISDA \nMaster Agreement between Columbia and Dynegy, dated as of December 1, 1998, \nand transfers the Transactions thereunder to the Master Agreement between ENA \nand Dynegy, dated as of January 27, 1992.", "path": "jones-t/all_documents/1113."}, "s19": {"from": "susan.flynn@enron.com", "to": "jefferson.sorenson@enron.com, laurel.adams@enron.com,   \tandrea.guillen@enron.com, larry.hunter@enron.com,   \tdavid.dupre@enron.com, chris.walker@enron.com,   \tjarrod.cyprow@enron.com, pamela.sonnier@enron.com,   \tsheetal.patel@enron.com, s", "subject": "Acquisition of certain assets of Columbia Energy Services   Corporation - Financial Trading", "text": "Delmarva, dated as of  March 12, 1998.  \n\n We have received the executed Transfer and Termination Agreement between ENA \nand Dynegy Marketing and Trade, f/k/a Natural Gas Clearinghouse (\"Dynegy\"), \ndated effective as of January 1, 2000.   This agreement terminates the ISDA \nMaster Agreement between Columbia and Dynegy, dated as of December 1, 1998, \nand transfers the Transactions thereunder to the Master Agreement between ENA \nand Dynegy, dated as of January 27, 1992.\n We have received the executed Transfer and Termination Agreement between ENA \nand Duke Energy Trading and Marketing, L.L.C. (\"Duke\"), dated effective as of \nJanuary 1, 2000.   This agreement terminates the ISDA Master Agreement \nbetween Columbia and Duke, dated as of January 8, 1998, and transfers the \nTransactions thereunder to the ISDA Master Agreement between ENA and Duke, \ndated as of October 17, 1997.", "clipped": true, "phrase": "This agreement terminates the ISDA \nMaster Agreement between Columbia and Dynegy, dated as of December 1, 1998, \nand transfers the Transactions thereunder to the Master Agreement between ENA \nand Dynegy, dated as of January 27, 1992.", "path": "jones-t/all_documents/1174."}, "s22": {"from": "susan.flynn@enron.com", "to": "jefferson.sorenson@enron.com, laurel.adams@enron.com,   \tandrea.guillen@enron.com, larry.hunter@enron.com,   \tdavid.dupre@enron.com, chris.walker@enron.com,   \tjarrod.cyprow@enron.com, pamela.sonnier@enron.com,   \tsheetal.patel@enron.com, s", "subject": "Acquisition of certain assets of Columbia Energy Services   Corporation - Financial Trading", "text": "and Dynegy Marketing and Trade, f/k/a Natural Gas Clearinghouse (\"Dynegy\"), \ndated effective as of January 1, 2000.   This agreement terminates the ISDA \nMaster Agreement between Columbia and Dynegy, dated as of December 1, 1998, \nand transfers the Transactions thereunder to the Master Agreement between ENA \nand Dynegy, dated as of January 27, 1992.\n We have received the executed Transfer and Termination Agreement between ENA \nand Duke Energy Trading and Marketing, L.L.C. (\"Duke\"), dated effective as of \nJanuary 1, 2000.   This agreement terminates the ISDA Master Agreement \nbetween Columbia and Duke, dated as of January 8, 1998, and transfers the \nTransactions thereunder to the ISDA Master Agreement between ENA and Duke, \ndated as of October 17, 1997.", "clipped": true, "phrase": "and transfers the Transactions thereunder to the Master Agreement between ENA \nand Dynegy, dated as of January 27, 1992.", "path": "jones-t/all_documents/1258."}, "s23": {"from": "susan.flynn@enron.com", "to": "jefferson.sorenson@enron.com, laurel.adams@enron.com,   \tandrea.guillen@enron.com, larry.hunter@enron.com,   \tdavid.dupre@enron.com, chris.walker@enron.com,   \tjarrod.cyprow@enron.com, pamela.sonnier@enron.com,   \tsheetal.patel@enron.com, s", "subject": "Acquisition of certain assets of Columbia Energy Services   Corporation - Financial Trading", "text": "Delmarva, dated as of  March 12, 1998.  \n\n We have received the executed Transfer and Termination Agreement between ENA \nand Dynegy Marketing and Trade, f/k/a Natural Gas Clearinghouse (\"Dynegy\"), \ndated effective as of January 1, 2000.   This agreement terminates the ISDA \nMaster Agreement between Columbia and Dynegy, dated as of December 1, 1998, \nand transfers the Transactions thereunder to the Master Agreement between ENA \nand Dynegy, dated as of January 27, 1992.\n We have received the executed Transfer and Termination Agreement between ENA \nand Duke Energy Trading and Marketing, L.L.C. (\"Duke\"), dated effective as of \nJanuary 1, 2000.   This agreement terminates the ISDA Master Agreement \nbetween Columbia and Duke, dated as of January 8, 1998, and transfers the", "clipped": true, "phrase": "Master Agreement between Columbia and Dynegy, dated as of December 1, 1998,", "path": "jones-t/all_documents/1258."}, "s42": {"from": "susan.flynn@enron.com", "to": "jefferson.sorenson@enron.com, laurel.adams@enron.com,   \tandrea.guillen@enron.com, larry.hunter@enron.com,   \tdavid.dupre@enron.com, chris.walker@enron.com,   \tjarrod.cyprow@enron.com, pamela.sonnier@enron.com,   \tsheetal.patel@enron.com, s", "subject": "Acquisition of certain assets of Columbia Energy Services   Corporation - Financial Trading", "text": "and Dynegy Marketing and Trade, f/k/a Natural Gas Clearinghouse (\"Dynegy\"), \ndated effective as of January 1, 2000.   This agreement terminates the ISDA \nMaster Agreement between Columbia and Dynegy, dated as of December 1, 1998, \nand transfers the Transactions thereunder to the Master Agreement between ENA \nand Dynegy, dated as of January 27, 1992.\n We have received the executed Transfer and Termination Agreement between ENA \nand Duke Energy Trading and Marketing, L.L.C. (\"Duke\"), dated effective as of \nJanuary 1, 2000.   This agreement terminates the ISDA Master Agreement \nbetween Columbia and Duke, dated as of January 8, 1998, and transfers the \nTransactions thereunder to the ISDA Master Agreement between ENA and Duke, \ndated as of October 17, 1997.", "clipped": true, "phrase": "and transfers the Transactions thereunder to the Master Agreement between ENA \nand Dynegy, dated as of January 27, 1992.", "path": "jones-t/all_documents/2459."}, "s30": {"from": "tanya.rohauer@enron.com", "to": "sara.shackleton@enron.com", "subject": "Re: Top 20", "text": "and terminating Aquila Risk master\njaron - we have a new ISDA; Jeff probably just isn't reflecting it yet\nel paso - Brant is currently negotiating the new ISDA\n\nThe following are in negotiation and are Top 10s:\n- idacorp\n- wps\n-pancanadian\n-duke energy mktg ltd (i think this one is all but signed)\n- mieco\n-dynegy canada\n\nI know you have had initial discussions with the counterparties and have \ndiscussed the need to put new documentation in place with:\n- morgan\n- vitol\n\nLastly, we were waiting on Reliant to give us an updated draft ISDA; however, \nnow that Randy Baker has left Reliant, they are not likely to address for \nawhile.  Tracy can ask Kelly about trying to get something in place.", "clipped": true, "phrase": "- mieco\n-dynegy canada", "path": "jones-t/all_documents/1992."}, "s31": {"from": "tanya.rohauer@enron.com", "to": "sara.shackleton@enron.com", "subject": "Re: Top 20", "text": "Lastly, we were waiting on Reliant to give us an updated draft ISDA; however, \nnow that Randy Baker has left Reliant, they are not likely to address for \nawhile.  Tracy can ask Kelly about trying to get something in place.\n\nThe others can probably wait until we get some of the above executed. Dynegy \nand Sempra are probably the most important of those left.  Dynegy should not \nbe too difficult; however, Sempra is a master financial/physical and will be \nmore problematic.  Let me know if you have any questions.\n\nThanks,\nTanya\n\nFrom: Sara Shackleton on 06/02/2000 10:26 AM\nTo: Tanya Rohauer/HOU/ECT@ECT, Russell Diamond/HOU/ECT@ECT, Rod \nNelson/HOU/ECT@ECT, Paul Radous/Corp/Enron@ENRON, Edward \nSacks/Corp/Enron@Enron, Brant Reves/HOU/ECT@ECT, Mark Taylor/HOU/ECT@ECT, \nCarol St Clair/HOU/ECT@ECT, Susan Bailey/HOU/ECT@ECT, Susan", "clipped": true, "phrase": "Dynegy \nand Sempra are probably the most important of those left.  Dynegy should not \nbe too difficult", "path": "jones-t/all_documents/1992."}, "s38": {"from": "gregg.penman@enron.com", "to": "kay.mann@enron.com", "subject": "Affiliate Master Purchase and Sale Agreement", "text": "Illinois Commerce Commission for approval.  My understanding is that the \ntransactions will still be subject to the annual prudency process of each \nutility.  I am not sure your strategy on this one, but would think that a \ncombination of you, Jeff Hodge, and Boyd would be most effective.  I \nunderstand that Dynegy and Nicor filed a similar agreement as part of their \nHub Agency Agreement that Boyd has reviewed.  I am sure he can confirm that \nor not.\n\nThanks,\n\nGregg", "clipped": true, "phrase": "understand that Dynegy and Nicor filed a similar agreement as part of their", "path": "mann-k/all_documents/112."}, "s39": {"from": "kay.mann@enron.com", "to": "dtucker@bracepatt.com", "subject": "Affiliate Master Purchase and Sale Agreement", "text": "Illinois Commerce Commission for approval.  My understanding is that the \ntransactions will still be subject to the annual prudency process of each \nutility.  I am not sure your strategy on this one, but would think that a \ncombination of you, Jeff Hodge, and Boyd would be most effective.  I \nunderstand that Dynegy and Nicor filed a similar agreement as part of their \nHub Agency Agreement that Boyd has reviewed.  I am sure he can confirm that \nor not.\n\nThanks,\n\nGregg", "clipped": true, "phrase": "I \nunderstand that Dynegy and Nicor filed a similar agreement as part of their \nHub Agency Agreement that Boyd has reviewed.", "path": "mann-k/_sent_mail/4131."}, "s40": {"from": "kay.mann@enron.com", "to": "suzanne.adams@enron.com", "subject": "Affiliate Master Purchase and Sale Agreement", "text": "transactions will still be subject to the annual prudency process of each \nutility.  I am not sure your strategy on this one, but would think that a \ncombination of you, Jeff Hodge, and Boyd would be most effective.  I \nunderstand that Dynegy and Nicor filed a similar agreement as part of their \nHub Agency Agreement that Boyd has reviewed.  I am sure he can confirm that \nor not.\n\nThanks,\n\nGregg", "clipped": true, "phrase": "Dynegy and Nicor filed a similar agreement as part of their \nHub Agency Agreement", "path": "mann-k/all_documents/138."}, "s45": {"from": "bernice.rodriguez@enron.com", "to": "tana.jones@enron.com", "subject": "Confirmation on Master Dates", "text": "Tana,\n\nCan you please confirm for me what the financial master agreement dates are \nfor Utilicorp United Inc (GCP shows 6-21-00) and Dynegy Canada Inc (GCP shows \n6-16-95)?  \n\nCanada currently has several confirmations that are being held until we can \nresolve what the dates are.\n\nBernice", "clipped": false, "phrase": "Can you please confirm for me what the financial master agreement dates are \nfor Utilicorp United Inc (GCP shows 6-21-00) and Dynegy Canada Inc (GCP shows \n6-16-95)?", "path": "jones-t/all_documents/2797."}, "s46": {"from": "bernice.rodriguez@enron.com", "to": "tana.jones@enron.com", "subject": "Confirmation on Master Dates", "text": "Tana,\n\nCan you please confirm for me what the financial master agreement dates are \nfor Utilicorp United Inc (GCP shows 6-21-00) and Dynegy Canada Inc (GCP shows \n6-16-95)?  \n\nCanada currently has several confirmations that are being held until we can \nresolve what the dates are.\n\nBernice", "clipped": false, "phrase": "Canada currently has several confirmations that are being held until we can \nresolve what the dates are.", "path": "jones-t/all_documents/2797."}, "s47": {"from": "bernice.rodriguez@enron.com", "to": "tana.jones@enron.com", "subject": "Re: Confirmation on Master Dates", "text": "I do not have access to the dbase..is it an option when submitting a SRRS \nrequest?!\n\nGCP await the hard copy of the executed/under negotiation report to confirm \nmaster dates.  We also rely on the daily emails from Susan that indicate when \na new master has been signed.  However, in these two cases, Peggy H in Canada \nis thinking the dates are different from what was originally setup.  \n\nBernice\n\nFrom: Tana Jones on 07/25/2000 09:35 AM\nTo: Bernice Rodriguez/HOU/ECT@ECT\ncc:  \nSubject: Re: Confirmation on Master Dates  \n\nDo you have access to the Financial Trading Agreement database, where you can \nlook these dates up?\n\n\tBernice Rodriguez\n\t07/24/2000 05:31 PM\n\t\t \n\t\t To: Tana Jones/HOU/ECT@ECT\n\t\t cc: Melinda Whalen/CAL/ECT@ECT\n\t\t Subject: Confirmation on Master Dates\n\n\t\n\nTana,", "clipped": true, "phrase": "However, in these two cases, Peggy H in Canada \nis thinking the dates are different from what was originally setup.", "path": "jones-t/all_documents/2814."}, "s50": {"from": "molly.harris@enron.com", "to": "samantha.boyd@enron.com, susan.bailey@enron.com, tana.jones@enron.com", "subject": "Statoil/J.Aron/CES", "text": "transactions that are not covered by a Columbia Master Agreement (financial \ntrading).    We are in the process of transferring the Columbia transactions \nto ENA Master Agreements and terminating the Columbia Master Agreements, when \npossible.  \n\n Recently Received \n We have received the executed Transfer and Termination Agreement between \nENA, Aquila Risk Management Corporation (\"ARMC\"), and Utilicorp United \n(\"Utilicorp\"), dated effective as of January 1, 2000.   As of January 1, \n2000, this agreement terminates the ISDA Master  Agreement between Columbia \nand ARMC, dated as of January 16, 1998, and transfers the Transactions \nthereunder to the Master Agreement between ENA and ARMC, dated as of November \n22, 1993 (the \"ENA/ARMC Master Agreement\").    As of June 21, 2000, this \nAgreement then terminates the ENA/ARMC Master Agreement  and transfers the", "clipped": true, "phrase": "We have received the executed Transfer and Termination Agreement between ENA \nand Dynegy Marketing and Trade, f/k/a Natural Gas Clearinghouse (\"Dynegy\"), \ndated effective as of January 1, 2000.", "path": "jones-t/all_documents/3183."}, "s51": {"from": "molly.harris@enron.com", "to": "samantha.boyd@enron.com, susan.bailey@enron.com, tana.jones@enron.com", "subject": "Statoil/J.Aron/CES", "text": "transferred to the ENA/J. Aron Master Agreement, effective as of January 1, \n2000.\n\n We have received the executed Transfer and Termination Agreement between  \nENA and Koch Energy Trading, Inc., f/k/a Koch Gas Services Company  (\"Koch\"), \ndated effective as of January 1, 2000.   This agreement terminates the ISDA \nMaster Agreement between Columbia and Koch, dated as of April 24, 1996, and \ntransfers the Transactions thereunder to the ISDA Master Agreement between \nENA and Koch, dated as of  May 23, 1994.\n\n We have received the executed Transfer and Termination Agreement between  \nENA and  Oneok Energy Marketing and Trading Company, L.P., \nsuccessor-in-interest to KN Marketing, L.P., successor by assignment to KN \nTrading, Inc. (\"Oneok, L.P.\"), dated effective as of January 1, 2000.   This \nagreement terminates the ISDA Master Agreement between Columbia and Oneok, \nL.P., dated as of January 26, 1998, and transfers the Transactions thereunder", "clipped": true, "phrase": "This agreement terminates the ISDA \nMaster Agreement between Columbia and Dynegy, dated as of December 1, 1998, \nand transfers the Transactions thereunder to the Master Agreement between ENA \nand Dynegy, dated as of January 27, 1992.", "path": "jones-t/all_documents/3183."}, "s52": {"from": "leslie.hansen@enron.com", "to": "tana.jones@enron.com", "subject": "Re: EOL Credit Responses 08/14/00", "text": "Tana:\n\nNone of the following CPs are approved to trade US power:\n\nNicor Gas Company -restricted by credit\nNorthern Illinois Gas Company - restricted by credit\nSumitomo Electric Industries LTD. - not a current CP/not FERC approved\nTaylor Energy Company - restricted by credit\n\n*******************\nDynegy Power Marketing, Inc. - no change to profile\nTaunton Municipal Light Plant - authorized to trade US power pursuant to \non-line GTCs (no master)\n\nLeslie", "clipped": false, "phrase": "Dynegy Power Marketing, Inc. - no change to profile", "path": "jones-t/all_documents/3196."}, "s54": {"from": "tana.jones@enron.com", "to": "frank.davis@enron.com, sheri.thomas@enron.com, stephanie.sever@enron.com", "subject": "Counterparty Approval List for 8/14/00", "text": "With respect to the attached list, a few things:\n\n1.  With respect to Dynegy Power Marketing, my records reflect that they are \napproved for all products (including financial & power).  Can you let me know \nif your approvals reflect otherwise?\n\n2.  With respect to Nicor Gas Company and Northern Illinois Gas Company:  \nNorthern Illinois Gas Company should be restyled to be \"Northern Illinois Gas \nCompany d/b/a Nicor Gas Company\".  We have just received the executed ISDA \nMaster with this entity and that is how the counterparty directed us to set \nthe master up.  Nicor Gas Company appears to be their physical gas trading \narm, so that entity name should be left alone.\n\nI haven't forgotten the 8/11/00 list, I am waiting to hear back from \nAustralia about a question.", "clipped": false, "phrase": "my records reflect that they are \napproved for all products (including financial", "path": "jones-t/all_documents/3236."}, "s55": {"from": "tana.jones@enron.com", "to": "frank.davis@enron.com, stephanie.sever@enron.com, tom.moran@enron.com", "subject": "Dynegy Marketing and Trade", "text": "Per my conversation with Frank, this counterparty wants to trade weather \nonline.  However, they have the old style ERMS Master in place which only \ncovers energy commodities.  I spoke to Scott Tackett on the Confirm Desk, and \nhe is going to add language to the confirm that puts the trades under the \nmaster agreement.   I also spoke to Tanya Rohauer in Credit and she is going \nto move this counterparty up on the list for an ISDA replacement master.\n\nSo, they are OK to open for weather.", "clipped": false, "phrase": "this counterparty wants to trade weather \nonline.  However, they have the old style ERMS Master in place which only \ncovers energy commodities.", "path": "jones-t/all_documents/3259."}, "s56": {"from": "tana.jones@enron.com", "to": "frank.davis@enron.com, stephanie.sever@enron.com, tom.moran@enron.com", "subject": "Dynegy Marketing and Trade", "text": "Per my conversation with Frank, this counterparty wants to trade weather \nonline.  However, they have the old style ERMS Master in place which only \ncovers energy commodities.  I spoke to Scott Tackett on the Confirm Desk, and \nhe is going to add language to the confirm that puts the trades under the \nmaster agreement.   I also spoke to Tanya Rohauer in Credit and she is going \nto move this counterparty up on the list for an ISDA replacement master.\n\nSo, they are OK to open for weather.", "clipped": false, "phrase": "I also spoke to Tanya Rohauer in Credit and she is going \nto move this counterparty up on the list for an ISDA replacement master.\n\nSo, they are OK to open for weather.", "path": "jones-t/all_documents/3259."}, "s57": {"from": "scott.tackett@enron.com", "to": "tana.jones@enron.com", "subject": "Re: Financial Trading Agreements Database Link", "text": "I received a call today from the head Weather Trader at Dynegy who said they \nhad some questions regarding their ISDA agreement and how it would relate to \nweather trades.  I took the number and said I would ask you to look into it \nwith them:\n\nMargaret Lester\n713-767-XXXX\n\nif not available try\n\nPaul Henry\n713-767-XXXX\n\nFrom: Tana Jones@ECT on 06/01/2000 05:13 PM\nTo: Melissa Ann Murphy/HOU/ECT@ECT, Kim S Theriot/HOU/ECT@ECT, Rhonda L \nDenton/HOU/ECT@ECT, Jefferson D Sorenson/HOU/ECT@ECT, Larry Joe \nHunter/HOU/ECT@ECT, Kevin Meredith/Corp/Enron@ENRON, Bruce", "clipped": true, "phrase": "I received a call today from the head Weather Trader at Dynegy who said they \nhad some questions regarding their ISDA agreement and how it would relate to \nweather trades.", "path": "jones-t/all_documents/3336."}, "s63": {"from": "kay.mann@enron.com", "to": "nwodka@bracepatt.com", "subject": "Notes from Wednesday (9/13/00) Development Meeting", "text": "Taxation\n\nRocky Mount made a verbal tax proposal totaling approximately $750,000 over 4 \nyears.  We have not evaluated or discussed with them further.  Financial \nmodel uses Enron tax assumptions.\n\nAction Items:\nCalculate present value of the Rocky Mount proposal.\nGet with Kay Mann to see if Kilpatrick can get a copy of the deal Dynegy \nnegotiated for their project.\nWhat is the legal framework through which Rocky Mount has to offer such a tax \ndeal?\nWhat else does the legal framework offer, and can we negotiate a position we \nlike?\nDetermine what depreciation schedule the city will use.\nDetermine what we think the taxes ought to be and PV it as a point of \ncomparison.\n\nLand \n\nMayor of Rocky Mount was contacted by Bill Sherk last week about getting the", "clipped": true, "phrase": "see if Kilpatrick can get a copy of the deal Dynegy \nnegotiated for their project.", "path": "mann-k/_sent_mail/3523."}, "s77": {"from": "petej@andrews-kurth.com", "to": "tana.jones@enron.com", "subject": "My deals", "text": "Tana,\n  Here are my deals:\n\n1. DLJ International Capital\n2. Florida Power & Light\n3. New York State Electric & Gas\n4. Midcoast Energy\n5. Dynegy Canada\n6. Commerzbank AG\n7. Morgan Stanley Capital Services\n8. Harvard", "clipped": false, "phrase": "4. Midcoast Energy\n5. Dynegy Canada\n6. Commerzbank AG", "path": "jones-t/all_documents/4315."}, "s135": {"from": "tana.jones@enron.com", "to": "tanya.rohauer@enron.com", "subject": "Dynegy Power Corp. Master", "text": "We have a really old agreement with the referenced counterparty and I don't \nthink we use it to trade under anymore.  I spoke to the Confirm Desk and it \nappears all of our trading is under Dynegy Marketing and Trade.  If you \nconcur, I would like to inactive that master, since I'm afraid it might get \nattached for online trading.", "clipped": false, "phrase": "I spoke to the Confirm Desk and it \nappears all of our trading is under Dynegy Marketing and Trade.  If you \nconcur, I would like to inactive that master, since I'm afraid it might get \nattached for online trading.", "path": "jones-t/all_documents/5208."}, "s136": {"from": "tanya.rohauer@enron.com", "to": "tana.jones@enron.com", "subject": "Re: Dynegy Power Corp. Master", "text": "Ok by me.  I actually have a list of master issues that I would like to \ndiscuss sometime soon that are similar to this.  Thanks!\n\nFrom: Tana Jones on 11/09/2000 03:28 PM\nTo: Tanya Rohauer/HOU/ECT@ECT\ncc:  \nSubject: Dynegy Power Corp. Master\n\nWe have a really old agreement with the referenced counterparty and I don't \nthink we use it to trade under anymore.  I spoke to the Confirm Desk and it \nappears all of our trading is under Dynegy Marketing and Trade.  If you \nconcur, I would like to inactive that master, since I'm afraid it might get \nattached for online trading.", "clipped": false, "phrase": "Ok by me.  I actually have a list of master issues that I would like to \ndiscuss sometime soon that are similar to this.", "path": "jones-t/all_documents/5210."}, "s137": {"from": "tana.jones@enron.com", "to": "susan.bailey@enron.com", "subject": "Dynegy Power Corp.", "text": "Per my conv. w/Tanya, the above master should be inactived (which I have \nalready done in Lotus Notes) and taken off the executed Master List.  All the \nDynegy Trading is done out of Dynegy Marketing and Trade.\n\nThanks.", "clipped": false, "phrase": "the above master should be inactived (which I have \nalready done in Lotus Notes) and taken off the executed Master List.  All the \nDynegy Trading is done out of Dynegy Marketing and Trade.", "path": "jones-t/all_documents/5212."}, "s193": {"from": "tana.jones@enron.com", "to": "william.frederking@enron.com", "subject": "DynegyDirect ETA", "text": "I am unable to send you those DynegyDirect docs because my file is missing.  \nI have tried unsuccessfully to locate it, so I am contacting the Online Team \nright now trying to get copies from them.  As soon as I get copies I will get \nyou copies.\n----- Forwarded by Tana Jones/HOU/ECT on 01/09/2001 11:34 AM -----\n\n\tLeslie Hansen\n\t01/04/2001 10:14 AM\n\t\t \n\t\t To: Tana Jones/HOU/ECT@ECT\n\t\t cc: William Frederking/HOU/EES@EES\n\t\t Subject: DynegyDirect ETA\n\nTana:\n\nPlease send a copy of the executed DynegyDirect ETA with Addendum between \nEnron North America and Dynegy to Will Fredercking at EB854B.\n\nThanks.\n\nLeslie", "clipped": false, "phrase": "Please send a copy of the executed DynegyDirect ETA with Addendum between", "path": "jones-t/all_documents/9050."}, "s210": {"from": "tana.jones@enron.com", "to": "tanya.rohauer@enron.com, russell.diamond@enron.com", "subject": "Dynegy Marketing and Trade", "text": "I just got off the phone with Margaret Lester, a contract administrator at \nDynegy, and Harlan Murphy, an attorney she works with.  There was some \nmisinformation communicated to them about EOL, and I told them the only way \nwe would trade online with them was under the existing master, not under the \nonline GTCs, we wanted the bankruptcy protection the master affords.  They \nwant to replace the old ERMS Master with an ISDA and I told them we would be \nhappy to generate the master.  Can I get some credit from you so I can turn \naround a master quickly, or we will have to work off their form, which will \nthen become an ISDA comparison which will be a lot more work in the long run.\n\nMuch thanks as usual for your prompt help!", "clipped": false, "phrase": "I told them the only way \nwe would trade online with them was under the existing master, not under the \nonline GTCs, we wanted the bankruptcy protection the master affords.", "path": "jones-t/all_documents/9313."}, "s211": {"from": "tana.jones@enron.com", "to": "tanya.rohauer@enron.com, russell.diamond@enron.com", "subject": "Dynegy Marketing and Trade", "text": "I just got off the phone with Margaret Lester, a contract administrator at \nDynegy, and Harlan Murphy, an attorney she works with.  There was some \nmisinformation communicated to them about EOL, and I told them the only way \nwe would trade online with them was under the existing master, not under the \nonline GTCs, we wanted the bankruptcy protection the master affords.  They \nwant to replace the old ERMS Master with an ISDA and I told them we would be \nhappy to generate the master.  Can I get some credit from you so I can turn \naround a master quickly, or we will have to work off their form, which will \nthen become an ISDA comparison which will be a lot more work in the long run.\n\nMuch thanks as usual for your prompt help!", "clipped": false, "phrase": "They \nwant to replace the old ERMS Master with an ISDA and I told them we would be \nhappy to generate the master.", "path": "jones-t/all_documents/9313."}, "s214": {"from": "sherri.sera@enron.com", "to": "steven.kean@enron.com, john.lavorato@enron.com, david.delainey@enron.com,   \tlouise.kitchen@enron.com", "subject": "URG: Gas Securitization Agreements", "text": "FYI - SRS\n---------------------- Forwarded by Sherri Sera/Corp/Enron on 02/09/2001 08:39 AM ---------------------------\n\n\"Jauregui, Robert M\" <RMJ4@pge.com> on 02/08/2001 07:55:44 PM\nTo:\t\"'taylorja2@bp.com'\" <taylorja2@bp.com>, \"'mcclankg@bp.com'\"\t <mcclankg@bp.com>, \"'sdba@dynegy.com'\" <sdba@dynegy.com>, \"'njwa@dynegy.com'\" <njwa@dynegy.com>, \"'pete.j.pavluk@dynegy.com'\"\t <pete.j.pavluk@dynegy.com>, \"'chuck.watson@dynegy.com'\"\t <chuck.watson@dynegy.com>, \"'pwarden@pillsburywinthrop.com'\"\t <pwarden@pillsburywinthrop.com>, \"'repling@pillsburywinthrop.com'\"\t <repling@pillsburywinthrop.com>, \"'mmce@dynegy.com'\" <mmce@dynegy.com>, \"'swbe@dynegy.com'\" <swbe@dynegy.com>, \"'bcli@dynegy.com'\"\t <bcli@dynegy.com>, \"'singleton.greg@epenergy.com'\"\t <singleton.greg@epenergy.com>, \"'hoferc@epenergy.com'\"\t <hoferc@epenergy.com>, \"'smithc@epenergy.com'\" <smithc@epenergy.com>, \"'WiseW@epenergy.com'\" <Wis", "clipped": true, "phrase": "*\tDynegy Canada Marketing &amp; Trade, A Division of DCI\n*\tDynegy Marketing &amp; Trade", "path": "kitchen-l/_americas/regulatory/240."}, "s219": {"from": "kay.mann@enron.com", "to": "rusty.stevens@enron.com", "subject": "Re: Confidentiality Agreements", "text": "attempt to sell the Illinois sites.  Scott has asked that we use a CA that \ndoesn't preclude States where we have sites he is trying to sell as we are \ncollaborating with him on this effort.  He also wants a document in place \nthat can cover the sale of equipment.\n\nIn talking to Fred, it appears that the Dynegy CA is the latest and greatest \ndocument that works for this task, however the PSEG deal may also work.  \nPlease forward me an electronic form that you feel is most appropriate - with \nblanks where all counterparty names are shown - so I can forward them to \nadditional parties (such as FPL, Duke, Tenaska, Unicom, etc.).\n\nI would like to get this out to a couple of these parties tomorrow if \npossible since we are already talking to other parties and want to maximize \nprice and likelihood of closure.", "clipped": true, "phrase": "In talking to Fred, it appears that the Dynegy CA is the latest and greatest \ndocument that works for this task", "path": "mann-k/_sent_mail/1613."}, "s221": {"from": "kay.mann@enron.com", "to": "fred.mitro@enron.com", "subject": "Re: Dynegy CA", "text": "together?\n\nFred\n\n   \n\tEnron North America Corp.\n\t\n\tFrom:  Kathleen Carnahan @ ENRON                           02/14/2001 11:26 AM\n\t\n\nTo: Kay Mann/Corp/Enron@Enron\ncc: Fred Mitro/HOU/ECT@ECT \nSubject: Dynegy CA\n\nKay,\n\nAttached for your review is the revised Dynegy CA (Unilateral in favor of \nENA) which includes ENA providing Dynegy with: (i) information as to the \nproject sites in areas they are interested; and (ii) discussions regarding \nthe potential sale of natural gas fired electric generation projects.\n\nPlease advise.\n\nKathleen", "clipped": true, "phrase": "the revised Dynegy CA (Unilateral in favor of \nENA) which includes ENA providing Dynegy with: (i) information as to the \nproject sites in areas they are interested", "path": "mann-k/_sent_mail/1602."}, "s222": {"from": "kay.mann@enron.com", "to": "fred.mitro@enron.com", "subject": "Re: Dynegy CA", "text": "To: Kay Mann/Corp/Enron@Enron\ncc: Fred Mitro/HOU/ECT@ECT \nSubject: Dynegy CA\n\nKay,\n\nAttached for your review is the revised Dynegy CA (Unilateral in favor of \nENA) which includes ENA providing Dynegy with: (i) information as to the \nproject sites in areas they are interested; and (ii) discussions regarding \nthe potential sale of natural gas fired electric generation projects.\n\nPlease advise.\n\nKathleen", "clipped": true, "phrase": "(ii) discussions regarding \nthe potential sale of natural gas fired electric generation projects.", "path": "mann-k/_sent_mail/1602."}, "s223": {"from": "kay.mann@enron.com", "to": "fred.mitro@enron.com", "subject": "Re: Dynegy CA", "text": "One of us can.\n\nFred Mitro@ECT\n02/15/2001 04:47 PM\nTo: Kathleen Carnahan/NA/Enron@ENRON\ncc: Kay Mann/Corp/Enron@Enron \n\nSubject: Re: Dynegy CA  \n\nKathleen:\n\nPlease check the previous CA's with Dynegy to determine if they were \nunilateral or bilateral.  If they were unilateral then this form looks fine.  \nIf they were bilateral, then we should adopt that format in the CA that we \nare preparing to send out to Dynegy.\n\nKay:  If Kathleen is out of the office tomorrow, can Carlos pull this CA \ntogether?\n\nFred\n\n   \n\tEnron North America Corp.\n\t\n\tFrom:  Kathleen Carnahan @ ENRON                           02/14/2001 11:26 AM\n\t\n\nTo: Kay Mann/Corp/Enron@Enron\ncc: Fred Mitro/HOU/ECT@ECT", "clipped": true, "phrase": "Please check the previous CA's with Dynegy to determine if they were \nunilateral or bilateral.", "path": "mann-k/_sent_mail/1602."}, "s265": {"from": "mary.cook@enron.com", "to": "susan.bailey@enron.com, samantha.boyd@enron.com, tana.jones@enron.com,   \tstephanie.panus@enron.com", "subject": "Various Matters:  PLEASE READ!", "text": "future Tana will handle only limited ISDA files, but of course she is always \navailable to answer questions adn problem solve.\n\nPanus:  Fletcher Challenge Industries Limited/ Apache\nLakeside Feeders Ltd.\nOntario Power\nBNP Paribas (Guaranty only)\nPowerex Corporation\n\nBailey:  Engage Canada\nEnmax Energy\nDynegy US \nPUD #1 Clark County\nOrlando Utilities Commission\n\nSamantha is not now being assigned additional files because many more of her \nfiles are now high or very high.\n\nThanks, as always.\n\nCordially,\nMary Cook\nEnron North America Corp.\n1400 Smith, 38th Floor, Legal\nHouston, Texas   77002-7361\n(713) 345-XXXX (phone)\n(713) 646-XXXX (fax)\nmary.cook@enron.com", "clipped": true, "phrase": "Bailey:  Engage Canada\nEnmax Energy\nDynegy US", "path": "jones-t/all_documents/9776."}, "s275": {"from": "paula.rieker@enron.com", "to": "louise.kitchen@enron.com", "subject": "Merrill Investor Mtg. on 4/10", "text": "El Paso \tClark Smith\nDynegy  \tMat Shoutsman\nWilliams  \tBill Hobbs\nDuke  \t\t____ Kelly\nEnron  \t\tYou\n\nI do not have a specific agenda or client list yet - will send as soon as available.", "clipped": true, "phrase": "El Paso \tClark Smith\nDynegy  \tMat Shoutsman\nWilliams  \tBill Hobbs", "path": "kitchen-l/_americas/mrha/ooc/304."}, "s283": {"from": "mark.greenberg@enron.com", "to": "thomas.gros@enron.com", "subject": "Dynegy Documents", "text": "Tom -\n\nAttached for your review are drafts of the NDA and Beta Test Agreement for \nDynegy Marketing & Trading.  If these meet with your approval, please forward \nto Dynegy for their review.\n\nI will be out of the office this afternoon, but reachable by cell phone \n(713-466-XXXX).  If you should need anything on these documents, please do \nnot hesitate to call me.\n\n  \n\nMark\nSenior Counsel, ENA\nPhone:     713-345-XXXX\nFacsimile: 713-646-XXXX\nE-Mail:      Mark.Greenberg@enron.com", "clipped": false, "phrase": "Attached for your review are drafts of the NDA and Beta Test Agreement for", "path": "jones-t/all_documents/10190."}, "s308": {"from": "chris.walker@enron.com", "to": "jeff.blumenthal@enron.com, susan.musch@enron.com, bjorn.hagelmann@enron.com,   \tmark.taylor@enron.com, john.viverito@enron.com,   \tmichael.robison@enron.com, tom.moran@enron.com,   \tanjali.abraham@enron.com, john.swinney@enron.com,   \talexi", "subject": "Product Type Aprroval Needed! (US PlasticRGC3 Phy Fwd)", "text": "propane as the remaining balance (the \u0001&Stream\u00018). The quantity shall be the \nvolume submitted by Counterparty via the Website.\n\nThe term of the Transaction shall correspond to the date(s) set forth in the \nProduct description on the Website.\n\nThe transaction is for delivery via scheduled pipeline to Dynegy Storage, \nMont Belvieu, Texas.  Title to and risk of loss of the product shall pass to \nBuyer when the product enters the receiving inlet valve of the storage well.  \nThe price  shall be determined as follows: (a) the price for contained \nPropylene shall be the price submitted by Counterparty via the Website, and \n(b) the price for all other components shall be the 'Avg' price for Liquefied \nPropane Gas published in the table entitled 'Mont Belvieu Spot Gas Liquids", "clipped": true, "phrase": "The transaction is for delivery via scheduled pipeline to Dynegy Storage, \nMont Belvieu, Texas.", "path": "jones-t/all_documents/10609."}, "s310": {"from": "michael.robison@enron.com", "to": "chris.walker@enron.com", "subject": "Re: Product Type Aprroval Needed! (US PlasticRGC3 Phy Fwd)", "text": "propane as the remaining balance (the \u0001&Stream\u00018). The quantity shall be the \nvolume submitted by Counterparty via the Website.\n\nThe term of the Transaction shall correspond to the date(s) set forth in the \nProduct description on the Website.\n\nThe transaction is for delivery via scheduled pipeline to Dynegy Storage, \nMont Belvieu, Texas.  Title to and risk of loss of the product shall pass to \nBuyer when the product enters the receiving inlet valve of the storage well.  \nThe price  shall be determined as follows: (a) the price for contained \nPropylene shall be the price submitted by Counterparty via the Website, and \n(b) the price for all other components shall be the 'Avg' price for Liquefied \nPropane Gas published in the table entitled 'Mont Belvieu Spot Gas Liquids", "clipped": true, "phrase": "The transaction is for delivery via scheduled pipeline to Dynegy Storage, \nMont Belvieu, Texas.", "path": "jones-t/all_documents/10621."}, "s311": {"from": "lisa.lees@enron.com", "to": "tana.jones@enron.com, karen.lambert@enron.com, kelly.lombardi@enron.com", "subject": "Product Type Aprroval - US Plastic RGC3 Phy Fwd)", "text": "propane as the remaining balance (the \u0001&Stream\u00018). The quantity shall be the \nvolume submitted by Counterparty via the Website.\n\nThe term of the Transaction shall correspond to the date(s) set forth in the \nProduct description on the Website.\n\nThe transaction is for delivery via scheduled pipeline to Dynegy Storage, \nMont Belvieu, Texas.  Title to and risk of loss of the product shall pass to \nBuyer when the product enters the receiving inlet valve of the storage well.  \nThe price  shall be determined as follows: (a) the price for contained \nPropylene shall be the price submitted by Counterparty via the Website, and \n(b) the price for all other components shall be the 'Avg' price for Liquefied \nPropane Gas published in the table entitled 'Mont Belvieu Spot Gas Liquids", "clipped": true, "phrase": "The transaction is for delivery via scheduled pipeline to Dynegy Storage, \nMont Belvieu, Texas.", "path": "jones-t/all_documents/10622."}, "s312": {"from": "tana.jones@enron.com", "to": "lisa.lees@enron.com", "subject": "Re: Product Type Aprroval - US Plastic RGC3 Phy Fwd)", "text": "propane as the remaining balance (the \u0001&Stream\u00018). The quantity shall be the \nvolume submitted by Counterparty via the Website.\n\nThe term of the Transaction shall correspond to the date(s) set forth in the \nProduct description on the Website.\n\nThe transaction is for delivery via scheduled pipeline to Dynegy Storage, \nMont Belvieu, Texas.  Title to and risk of loss of the product shall pass to \nBuyer when the product enters the receiving inlet valve of the storage well.  \nThe price  shall be determined as follows: (a) the price for contained \nPropylene shall be the price submitted by Counterparty via the Website, and \n(b) the price for all other components shall be the 'Avg' price for Liquefied \nPropane Gas published in the table entitled 'Mont Belvieu Spot Gas Liquids", "clipped": true, "phrase": "The transaction is for delivery via scheduled pipeline to Dynegy Storage, \nMont Belvieu, Texas.", "path": "jones-t/all_documents/10623."}, "s313": {"from": "karen.lambert@enron.com", "to": "lisa.lees@enron.com", "subject": "Re: Product Type Aprroval - US Plastic RGC3 Phy Fwd)", "text": "propane as the remaining balance (the \u0001&Stream\u00018). The quantity shall be the \nvolume submitted by Counterparty via the Website.\n\nThe term of the Transaction shall correspond to the date(s) set forth in the \nProduct description on the Website.\n\nThe transaction is for delivery via scheduled pipeline to Dynegy Storage, \nMont Belvieu, Texas.  Title to and risk of loss of the product shall pass to \nBuyer when the product enters the receiving inlet valve of the storage well.  \nThe price  shall be determined as follows: (a) the price for contained \nPropylene shall be the price submitted by Counterparty via the Website, and \n(b) the price for all other components shall be the 'Avg' price for Liquefied \nPropane Gas published in the table entitled 'Mont Belvieu Spot Gas Liquids", "clipped": true, "phrase": "The transaction is for delivery via scheduled pipeline to Dynegy Storage, \nMont Belvieu, Texas.", "path": "jones-t/all_documents/10634."}, "s309": {"from": "chris.walker@enron.com", "to": "jeff.blumenthal@enron.com, susan.musch@enron.com, bjorn.hagelmann@enron.com,   \tmark.taylor@enron.com, john.viverito@enron.com,   \tmichael.robison@enron.com, tom.moran@enron.com,   \tanjali.abraham@enron.com, john.swinney@enron.com,   \talexi", "subject": "Product Type Aprroval Needed! (US PlasticRGC3 Phy Fwd)", "text": "volume submitted by Counterparty via the Website.\n\nThe term of the Transaction shall correspond to the date(s) set forth in the \nProduct description on the Website.\n\nThe transaction is for delivery via scheduled pipeline to Dynegy Storage, \nMont Belvieu, Texas.  Title to and risk of loss of the product shall pass to \nBuyer when the product enters the receiving inlet valve of the storage well.  \nThe price  shall be determined as follows: (a) the price for contained \nPropylene shall be the price submitted by Counterparty via the Website, and \n(b) the price for all other components shall be the 'Avg' price for Liquefied \nPropane Gas published in the table entitled 'Mont Belvieu Spot Gas Liquids \nPrices' under the heading 'Non-TET Propane:  Any Current Month in the issue", "clipped": true, "phrase": "Title to and risk of loss of the product shall pass to \nBuyer when the product enters the receiving inlet valve of the storage well.", "path": "jones-t/all_documents/10609."}, "s466": {"from": "christopher.calger@enron.com", "to": "louise.kitchen@enron.com", "subject": "Deal Update", "text": "Blue Dog: $3.5MM of income recognition for turbine sale has moved to Q2 from Q3.\n\nTolls to Generators: Reliant did not lift our 100MW Mid-C offer. but they are still working on it - they had VAR constraints.  We are also showing synthetic tolls to other generators that expressed interest in our LV toll:  Duke, Constellation, Cinergy, NRG, Dynegy and Allegheny.  While these companies lead with assets, they also have trading functions that seem willing to get long through a PPA.\n\nDWR: Still working through credit and financial info.  Their bid is still there and in the money, but has fallen $2-$3/MWh due to the falling prices in the west.", "clipped": true, "phrase": "We are also showing synthetic tolls to other generators that expressed interest in our LV toll:  Duke, Constellation, Cinergy, NRG, Dynegy and Allegheny.", "path": "kitchen-l/_americas/portland/101."}, "s473": {"from": "christopher.calger@enron.com", "to": "louise.kitchen@enron.com, john.lavorato@enron.com, tammie.schoppe@enron.com,   \tkimberly.hillis@enron.com", "subject": "West Power Orig Update", "text": "Generator Tolls: We are trading term sheets with Allegheny, Reliant, Idacorp, Dynegy, NRG and Constellation re our offer to sell at NP-15, Mid-C and Palo - I think we will get something done this quarter.\n\nLongview: We met with the head of BPA this week and got confirmation that he supports our Longview process and that his agency will not slow us down with their proposed regional air study.  Finding EPC contractors has been difficult so we may start discussions with NEPCO.\n\nDWR: Should execute the Master agreement this week which will allow short-term deals with 7 day payment.", "clipped": true, "phrase": "We are trading term sheets with Allegheny, Reliant, Idacorp, Dynegy, NRG and Constellation re our offer to sell at NP-15, Mid-C and Palo", "path": "kitchen-l/_americas/earnings/12."}, "s666": {"from": "sharon.crawford@enron.com", "to": "tana.jones@enron.com", "subject": "Master Firm Gas P/S Agreements", "text": "Tana, attached is the Master Firm Gas P/S Agreement with Dynegy Canada Marketing and Trade, a division of Dynegy Canada Inc. (formerly Novagas Clearinghouse Limited Partnership):\n\n\t \nIt appears that around March 13, 2000, we sent Dynegy Canada Inc. an Amended and Restated Master Firm Gas P/S Agreement to replace the original agreement, but it was never signed up.\n\nThe following is the Master Firm Gas P/S Agreement with BP Canada Energy Company (formerly Amoco Canada Petroleum Company):\n\n\t \nI will fax to you the execution pages for each agreement.\n\nTake care,\nSharon", "clipped": false, "phrase": "attached is the Master Firm Gas P/S Agreement with Dynegy Canada Marketing and Trade, a division of Dynegy Canada Inc. (formerly Novagas Clearinghouse Limited Partnership)", "path": "jones-t/inbox/592."}, "s667": {"from": "sharon.crawford@enron.com", "to": "tana.jones@enron.com", "subject": "Master Firm Gas P/S Agreements", "text": "Tana, attached is the Master Firm Gas P/S Agreement with Dynegy Canada Marketing and Trade, a division of Dynegy Canada Inc. (formerly Novagas Clearinghouse Limited Partnership):\n\n\t \nIt appears that around March 13, 2000, we sent Dynegy Canada Inc. an Amended and Restated Master Firm Gas P/S Agreement to replace the original agreement, but it was never signed up.\n\nThe following is the Master Firm Gas P/S Agreement with BP Canada Energy Company (formerly Amoco Canada Petroleum Company):\n\n\t \nI will fax to you the execution pages for each agreement.\n\nTake care,\nSharon", "clipped": false, "phrase": "It appears that around March 13, 2000, we sent Dynegy Canada Inc. an Amended and Restated Master Firm Gas P/S Agreement to replace the original agreement, but it was never signed up.", "path": "jones-t/inbox/592."}, "s668": {"from": "sharon.crawford@enron.com", "to": "tana.jones@enron.com", "subject": "RE: Hess relationship", "text": "Neither BP nor Dynegy agreements have executed amendments.  There do not appear to be any guarantees on the BP file.  I am going to fax to you the guarantees (and amendments) that are in the Dynegy file.\n\nWe don't have masters with any of the following entities:\n\nAmerada Hess Corporation\nHess Energy Services Company, LLC\nHess Energy Trading Company (UK) Limited\nHess Energy Trading Company LLC\n\nWe do, however, have a CLOSED file for Amerada Hess Canada Ltd.  It was closed in 1998 and is offsite.  I don't know if the contract was fully executed or not.\n\n -----Original Message-----\nFrom: \tJones, Tana  \nSent:\tMonday, October 29, 2001 3:11 PM", "clipped": true, "phrase": "Neither BP nor Dynegy agreements have executed amendments.  There do not appear to be any guarantees on the BP file.  I am going to fax to you the guarantees (and amendments) that are in the Dynegy file.", "path": "jones-t/inbox/596."}, "s679": {"from": "harlan.murphy@enron.com", "to": "s..bradford@enron.com, louise.kitchen@enron.com, tanya.rohauer@enron.com", "subject": "Master Netting Agreement Status", "text": "Dynegy - Very preliminary; Dynegy is reviewing our paper.\nCalpine - We have been through several rounds of drafts.  The next draft will go to Calpine tomorrow.  We could finalize this in the next 1 or 2 weeks.\n\nHarlan E. Murphy\nEnron Wholesale Services - Legal\n1400 Smith Street, EB 3811\nHouston, Texas 77002\nTel: 713.345.XXXX\nFax: 713.646.XXXX\nE-mail: Harlan.Murphy@Enron.com", "clipped": false, "phrase": "Dynegy - Very preliminary; Dynegy is reviewing our paper.", "path": "kitchen-l/_americas/esvl/660."}, "s681": {"from": "mark.greenberg@enron.com", "to": "d..gros@enron.com", "subject": "Williams/Dynegy NDA's", "text": "Tom -\n\nBelow is an NDA for Williams along the lines we discussed on Friday.  It addresses the \"System\" as being the CommodityLogic products and, as to confidentiality, is intended to supercede the provisions of confidentiality found in the BETA agreement.\n\nI have not attached a similar agreement for Dynegy as I found we have a current NDA with Dynegy I.T., Inc. - signed in April, 2001.  Though this agreement is not as specific as the form I have provided below, it should be able to be used provided (1) we are talking to the same Dynegy group and (2) we make them aware of the fact that it is applicable from the onset.  Though Dynegy also has a BETA with confidentiality language, that language is not as vast as the standard NDA.\n\nPlease take a look at the attached and let me know how you want to proceed with both interested parties.\n\nThanks.\n\nMark", "clipped": false, "phrase": "I have not attached a similar agreement for Dynegy as I found we have a current NDA with Dynegy I.T., Inc. - signed in April, 2001.", "path": "jones-t/inbox/854."}, "s688": {"from": "robert.cooper@enron.com", "to": "neil.carpino@enron.com", "subject": "RE:", "text": "Thanks,\n\nCoop\n\nLIT CAPACITY\t\t\t\t\t\t\t\nCounterparty\tCapacity\tDeal #\tStatus\tCircuit\tTerm\tMRC\t\nPacific Carriage\tSTM-1\t1924.2\tUnconfirmed\tHillsboro-SJ\t10/10/01-11/15/02\t$10,000 \t\nDynegy Connect\tSTM-1\t760.1\tDone\tHillsboro-LA\t6/1/1 - 5/31/02\t$12,000 \t\nDynegy Connect\tSTM-4\t760.2\tDone\tHillsboro-LA\t6/1/1 - 5/31/02\t$26,800 \t\nDynegy Connect\tSTM-4\t760.3\tDone\tHillsboro-LA\t6/1/1 - 5/31/02\t$26,800 \t\nFrance Telecom\tSTM-1\t366.1\tDone\tHillsboro-SJ\t3/26/01-3/25/02\t$22,000 \t\nStorage Networks\t2 x 2.5G\t868.1\tDone\tPtld-Sea\t7/15/01-8/14/02\t$25,800 \t\n\nRobert T. Cooper\nDirector\nGlobal Wholesale Markets\nphone 713/853-XXXX\nfax      713/646-XXXX\nEmail   robert.cooper@enron.com", "clipped": true, "phrase": "Dynegy Connect\tSTM-1\t760.1\tDone\tHillsboro-LA\t6/1/1 - 5/31/02\t$12,000", "path": "mann-k/inbox/257."}, "s900": {"from": "carol.st.@enron.com", "to": "tanya.rohauer@enron.com, s..bradford@enron.com, louise.kitchen@enron.com", "subject": "FW: Dynegy Master Netting/Sithe", "text": "713-646-XXXX (fax)\n281-382-XXXX (cell phone)\n8774545506 (pager)\n281-890-XXXX (home fax)\ncarol.st.clair@enron.com\n\n -----Original Message-----\nFrom: \tMurphy, Harlan  \nSent:\tTuesday, November  13, 2001 9:44 AM\nTo:\tSt. Clair, Carol\nCc:\tTweed, Sheila\nSubject:\tRE: Dynegy Master Netting/Sithe\n\nThe MNA covers form commodity and trading agreements entered into between specified Dynegy and Enron entities.  I spoke with Sheila Tweed (who did the Sithe deal) about this and  we got comfortable that no aspects of the Sithe deal were done under the form trading agreements or between the specified entities.  In addition, the Enron Corp. Guaranty that will be used in connection with the MNA will not supersede the Enron Corp. Guaranty issued in connection with the Sithe transaction.\n\nHarlan E. Murphy\nEnron Wholesale Services - Legal", "clipped": true, "phrase": "The MNA covers form commodity and trading agreements entered into between specified Dynegy and Enron entities.", "path": "kitchen-l/_americas/esvl/556."}, "s901": {"from": "carol.st.@enron.com", "to": "tanya.rohauer@enron.com, s..bradford@enron.com, louise.kitchen@enron.com", "subject": "FW: Dynegy Master Netting/Sithe", "text": "To:\tSt. Clair, Carol\nCc:\tTweed, Sheila\nSubject:\tRE: Dynegy Master Netting/Sithe\n\nThe MNA covers form commodity and trading agreements entered into between specified Dynegy and Enron entities.  I spoke with Sheila Tweed (who did the Sithe deal) about this and  we got comfortable that no aspects of the Sithe deal were done under the form trading agreements or between the specified entities.  In addition, the Enron Corp. Guaranty that will be used in connection with the MNA will not supersede the Enron Corp. Guaranty issued in connection with the Sithe transaction.\n\nHarlan E. Murphy\nEnron Wholesale Services - Legal\n1400 Smith Street, EB 3811\nHouston, Texas 77002\nTel: 713.345.XXXX\nFax: 713.646.XXXX\nE-mail: Harlan.Murphy@Enron.com\n\n -----Original Message-----\nFrom: \tSt. Clair, Carol  \nSent:\tTuesday, November 13, 2001 8:43 AM", "clipped": true, "phrase": "we got comfortable that no aspects of the Sithe deal were done under the form trading agreements or between the specified entities", "path": "kitchen-l/_americas/esvl/556."}, "s902": {"from": "carol.st.@enron.com", "to": "tanya.rohauer@enron.com, s..bradford@enron.com, louise.kitchen@enron.com", "subject": "FW: Dynegy Master Netting/Sithe", "text": "dity and trading agreements entered into between specified Dynegy and Enron entities.  I spoke with Sheila Tweed (who did the Sithe deal) about this and  we got comfortable that no aspects of the Sithe deal were done under the form trading agreements or between the specified entities.  In addition, the Enron Corp. Guaranty that will be used in connection with the MNA will not supersede the Enron Corp. Guaranty issued in connection with the Sithe transaction.\n\nHarlan E. Murphy\nEnron Wholesale Services - Legal\n1400 Smith Street, EB 3811\nHouston, Texas 77002\nTel: 713.345.XXXX\nFax: 713.646.XXXX\nE-mail: Harlan.Murphy@Enron.com\n\n -----Original Message-----\nFrom: \tSt. Clair, Carol  \nSent:\tTuesday, November 13, 2001 8:43 AM\nTo:\tMurphy, Harlan\nCc:\tRohauer, Tanya\nSubject:\tDynegy\n\nHarlan:", "clipped": true, "phrase": "the Enron Corp. Guaranty that will be used in connection with the MNA will not supersede the Enron Corp. Guaranty issued in connection with the Sithe transaction.", "path": "kitchen-l/_americas/esvl/556."}, "s1450": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "In addition to buying power-plant capacity and storage, Dynegy had continued to expand its marketing reach. Yesterday, the company said it had finalized a deal with ChevronTexaco to market all of the energy company's North American natural gas. Dynegy already had marketed natural gas for the former Chevron Corp. ChevronTexaco is a 26% owner of Dynegy. \nRecently, Dynegy also received regulatory approval in Europe to buy natural gas storage assets in the United Kingdom from BG Group PLC, which should give Dynegy \"a strong beach head from which to continue to grow their European presence in marketing and trading,\" Mr. Dietert said. \n--- Tug of War", "clipped": true, "phrase": "Yesterday, the company said it had finalized a deal with ChevronTexaco to market all of the energy company's North American natural gas.", "path": "kitchen-l/_americas/sec_media/1."}, "s82": {"from": "issuealert@scientech.com", "to": "", "subject": "Dynegy Launches B2B Portal and Trading Site", "text": "By: Will McNamara, Director, Electric Industry Analysis\n===============================================================\n\nDynegy, Inc. announced the launch of Dynegydirect, an Internet-based, \ncommission-free\nB2B portal and trading site for energy and communications commodities.\nDynegydirect will be introduced to Dynegy customers in a phased-in rollout\nthat started on Oct. 16, with online trading commencing over the next several\nweeks. Through the portal, Dynegy customers will have self-service access\nto Dynegy's bid and offer prices across U.S. power, natural gas and \nnatural-gas\nliquids products. U.K power and natural gas, as well as coal, emission\nallowances, weather derivatives, international natural-gas liquids, and\nbandwidth will be offered in the coming months.\n\nANALYSIS: This is a major undertaking for Dynegy, but perhaps not very", "clipped": true, "phrase": "Dynegydirect will be introduced to Dynegy customers in a phased-in rollout\nthat started on Oct. 16, with online trading commencing over the next several\nweeks.", "path": "kean-s/all_documents/1627."}, "s83": {"from": "issuealert@scientech.com", "to": "", "subject": "Dynegy Launches B2B Portal and Trading Site", "text": "to \"enhance liquidity, improve customer control and create greater trading\nefficiency.\" Of the various online trading sites that have been announced,\nDynegydirect appears most similar to EnronOnline\u0001*clearly the leader in\nthe field\u0001*because it is principal-based. In other words, Dynegy will be\na participant in all of the transactions, either as a buyer or a seller.\nUnlike EnronOnline, which is completely online, Dynegydirect will allow\ncustomers to conduct their transactions with Dynegy over the telephone\nduring and following the launch of the site.\n\nOver the last year, Dynegy has identified its strategy as wanting to become\na leader in the converging energy and communications business. In addition,\naccording to Dynegy's CEO Chuck Watson, the company's goal is to gain a", "clipped": true, "phrase": "Dynegy will be\na participant in all of the transactions, either as a buyer or a seller.", "path": "kean-s/all_documents/1627."}, "s103": {"from": "tana.jones@enron.com", "to": "sara.shackleton@enron.com, mark.taylor@enron.com", "subject": "Dynegy Direct Trading Website", "text": "Leslie Hansen just called me and it appears the power traders have asked her \nto review the ETA for trading on the Dynegy Website.  I told her we were \nmeeting to develop a policy about the opening of such websites, that we had \nno board resolutions passed allowing the opening of them, nor do we have \ncontrol procedures in place about where statements go, etc., so we can \ncontrol and prevent \"rogue\" trading.  She said before she sent this out she \nwould contact you.", "clipped": false, "phrase": "the power traders have asked her \nto review the ETA for trading on the Dynegy Website.", "path": "jones-t/all_documents/4612."}, "s123": {"from": "bob.bowen@enron.com", "to": "mark.taylor@enron.com", "subject": "Meeting & Houstonstreet.com", "text": "Per my phone mail message, I need your help on the following:\n\n1)  The IT persons who are holding the meeting Nov. 16-17 are anxious to meet \nwith the\nLegal scholar that will be filling you shoes.  Do you have a name?  Would it \nbe better  for\nus (the IT group and myself) to prepare an agenda of what the person should \ncover?\n\n2)  I forwarded you various questions that the ENA IT group had raises about \nHoustonstreet.com\nand PriceQuote.com.  Have you had a chance to review the questions?  This, of \ncourse, will\nbecome an issue before we know it. \n\nNOTE: Another heads-up\n\nDid you know EOL is working to allow brokers to do deals online in the name \nof a Counterparty?\nIn other words, (i) a broker might do a deal online as Dynegy, (ii) ENA will \nconfirm the trade as a\ntelephonic trade between ENA and Dynegy and brokered by X.  The confirmation \nwill have no\nmention of EOL anywhere.", "clipped": false, "phrase": "a broker might do a deal online as Dynegy, (ii) ENA will \nconfirm the trade as a\ntelephonic trade between ENA and Dynegy and brokered by X.", "path": "jones-t/all_documents/5032."}, "s171": {"from": "ann.schmidt@enron.com", "to": "mark.palmer@enron.com, meredith.philipp@enron.com, steven.kean@enron.com,   \telizabeth.linnell@enron.com, eric.thode@enron.com,   \tlaura.schwartz@enron.com, jeannie.mandelker@enron.com,   \tmary.clark@enron.com, damon.harvey@enron.com, keith", "subject": "Enron Mentions", "text": "EnronOnline,\" Fusaro said.\n\nCopyright , 2000 Dow Jones & Company, Inc. All Rights Reserved. \n\nDynegy's New E-Commerce Site Had $1.5 Bln in November Trading\n12/11/0 17:37 (New York)\n\nDynegy's New E-Commerce Site Had $1.5 Bln in November Trading\n\n     Houston, Dec. 11 (Bloomberg) -- Dynegy Inc., a U.S.\nelectricity and natural-gas trader, said its Internet trading\nsite, Dynegydirect, had more than $1.5 billion in transactions in\nin November, its first month of business.\n     More than $1 billion of the business came from new customers,\nDynegy spokesman Steve Stengel said. Dynegydirect's customers\ntrade exclusively with Dynegy, not with each other. The Web site\nhas more than 400 companies buying and selling North American\npower, natural gas and natural gas liquids.\n     Dynegydirect plans to start trading coal, emission allowances\nand weather derivatives in the first quarter. International energy", "clipped": true, "phrase": "Dynegy Inc., a U.S.\nelectricity and natural-gas trader, said its Internet trading\nsite, Dynegydirect, had more than $1.5 billion in transactions in\nin November, its first month of business.", "path": "kean-s/all_documents/2213."}, "s172": {"from": "ann.schmidt@enron.com", "to": "mark.palmer@enron.com, meredith.philipp@enron.com, steven.kean@enron.com,   \telizabeth.linnell@enron.com, eric.thode@enron.com,   \tlaura.schwartz@enron.com, jeannie.mandelker@enron.com,   \tmary.clark@enron.com, damon.harvey@enron.com, keith", "subject": "Enron Mentions", "text": "Dynegy's New E-Commerce Site Had $1.5 Bln in November Trading\n\n     Houston, Dec. 11 (Bloomberg) -- Dynegy Inc., a U.S.\nelectricity and natural-gas trader, said its Internet trading\nsite, Dynegydirect, had more than $1.5 billion in transactions in\nin November, its first month of business.\n     More than $1 billion of the business came from new customers,\nDynegy spokesman Steve Stengel said. Dynegydirect's customers\ntrade exclusively with Dynegy, not with each other. The Web site\nhas more than 400 companies buying and selling North American\npower, natural gas and natural gas liquids.\n     Dynegydirect plans to start trading coal, emission allowances\nand weather derivatives in the first quarter. International energy\nproducts and bandwidth are scheduled to be added in the second\nquarter.\n     Shares of Houston-based Dynegy rose $4.19 to $53.75.\n     EnronOnline, the 1-year-old on-line market owned by Enron", "clipped": true, "phrase": "More than $1 billion of the business came from new customers,\nDynegy spokesman Steve Stengel said. Dynegydirect's customers\ntrade exclusively with Dynegy, not with each other.", "path": "kean-s/all_documents/2213."}, "s173": {"from": "ann.schmidt@enron.com", "to": "mark.palmer@enron.com, meredith.philipp@enron.com, steven.kean@enron.com,   \telizabeth.linnell@enron.com, eric.thode@enron.com,   \tlaura.schwartz@enron.com, jeannie.mandelker@enron.com,   \tmary.clark@enron.com, damon.harvey@enron.com, keith", "subject": "Enron Mentions", "text": "site, Dynegydirect, had more than $1.5 billion in transactions in\nin November, its first month of business.\n     More than $1 billion of the business came from new customers,\nDynegy spokesman Steve Stengel said. Dynegydirect's customers\ntrade exclusively with Dynegy, not with each other. The Web site\nhas more than 400 companies buying and selling North American\npower, natural gas and natural gas liquids.\n     Dynegydirect plans to start trading coal, emission allowances\nand weather derivatives in the first quarter. International energy\nproducts and bandwidth are scheduled to be added in the second\nquarter.\n     Shares of Houston-based Dynegy rose $4.19 to $53.75.\n     EnronOnline, the 1-year-old on-line market owned by Enron\nCorp., the world's biggest energy trader, trades about $2.4\nbillion a day, or about $12 billion a week.\n     IntercontinentalExchange, an Internet market for energy and\nprecious metals backed by 85 energy and financial companies,", "clipped": true, "phrase": "The Web site\nhas more than 400 companies buying and selling North American\npower, natural gas and natural gas liquids.\n     Dynegydirect plans to start trading coal, emission allowances\nand weather derivatives in the first quarter.", "path": "kean-s/all_documents/2213."}, "s174": {"from": "ann.schmidt@enron.com", "to": "mark.palmer@enron.com, meredith.philipp@enron.com, steven.kean@enron.com,   \telizabeth.linnell@enron.com, eric.thode@enron.com,   \tlaura.schwartz@enron.com, jeannie.mandelker@enron.com,   \tmary.clark@enron.com, damon.harvey@enron.com, keith", "subject": "Enron Mentions", "text": "Dynegydirect plans to start trading coal, emission allowances\nand weather derivatives in the first quarter. International energy\nproducts and bandwidth are scheduled to be added in the second\nquarter.\n     Shares of Houston-based Dynegy rose $4.19 to $53.75.\n     EnronOnline, the 1-year-old on-line market owned by Enron\nCorp., the world's biggest energy trader, trades about $2.4\nbillion a day, or about $12 billion a week.\n     IntercontinentalExchange, an Internet market for energy and\nprecious metals backed by 85 energy and financial companies,\ntraded about $6 billion in oil, natural-gas and electricity in its\nfirst week in mid October.\n     ICE brings buyers and sellers together to negotiate trades.\nOn EnronOnline, only Enron trades with other companies.\n     Bloomberg LP, the parent of Bloomberg News, competes with ICE", "clipped": true, "phrase": "EnronOnline, the 1-year-old on-line market owned by Enron\nCorp., the world's biggest energy trader, trades about $2.4\nbillion a day, or about $12 billion a week.", "path": "kean-s/all_documents/2213."}, "s175": {"from": "leslie.hansen@enron.com", "to": "tana.jones@enron.com, mark.greenberg@enron.com", "subject": "DynegyDirect", "text": "Tana:\n\nPlease send Mark Greenberg a hard copy of the DynegyDirect ETAs with \naddendums that I negotiated for ENA and EPMI.\n\nMark:\n\nPlease note that when negotiating an ETA for EPMI or Enron Gas Liquids, for \ninstance, unless the passwords can be restricted to physical products only, \nit is necessary to include language like the language I included in the EPMI \naddendum to make clear that notwithstanding the fact that an EPMI password, \nfor instance, is used to enter into a financial power transaction, the Enron \nentity that is a party to the agreement is ENA and the transaction is \ngoverned by the financial derivatives agreement between Dynegy and ENA.\n\nLeslie", "clipped": false, "phrase": "Please send Mark Greenberg a hard copy of the DynegyDirect ETAs with \naddendums that I negotiated for ENA and EPMI.", "path": "jones-t/all_documents/5923."}, "s176": {"from": "leslie.hansen@enron.com", "to": "tana.jones@enron.com, mark.greenberg@enron.com", "subject": "DynegyDirect", "text": "Tana:\n\nPlease send Mark Greenberg a hard copy of the DynegyDirect ETAs with \naddendums that I negotiated for ENA and EPMI.\n\nMark:\n\nPlease note that when negotiating an ETA for EPMI or Enron Gas Liquids, for \ninstance, unless the passwords can be restricted to physical products only, \nit is necessary to include language like the language I included in the EPMI \naddendum to make clear that notwithstanding the fact that an EPMI password, \nfor instance, is used to enter into a financial power transaction, the Enron \nentity that is a party to the agreement is ENA and the transaction is \ngoverned by the financial derivatives agreement between Dynegy and ENA.\n\nLeslie", "clipped": false, "phrase": "the Enron \nentity that is a party to the agreement is ENA and the transaction is \ngoverned by the financial derivatives agreement between Dynegy and ENA.", "path": "jones-t/all_documents/5923."}, "s188": {"from": "tana.jones@enron.com", "to": "larry.hunter@enron.com", "subject": "Re: DYNEGY DIRECT", "text": "01/08/2001 04:22 PM\n\t\t \n\t\t To: Stephanie Panus/NA/Enron@Enron\n\t\t cc: Samantha Boyd/NA/Enron@Enron, Susan Bailey/HOU/ECT@ECT, Jean \nBell/HOU/ECT@ECT, Tana Jones/HOU/ECT@ECT\n\t\t Subject: DYNEGY DIRECT\n\nStephanie,\n\nWe currently do a couple of deals per day through an Online trading system \ncalled DynegyDirect.  This is basically Dynegy's version of EOL.  We are \nsending Confirmations on these deals just as we do with all other deals done \nwith Dynegy.  However, the CP is requesting that we not send these Confirms \nat all.  Our Traders click on the deal which is then legally binding.  Our \nback office personnel double-check our Trade Entry by going to DynegyDirect's \nweb-site and checking the trade details.  Dynegy simply throws out our", "clipped": true, "phrase": "called DynegyDirect.  This is basically Dynegy's version of EOL.", "path": "jones-t/all_documents/9044."}, "s833": {"from": "issuealert@scientech.com", "to": "issuealerthtml@listserv.scientech.com", "subject": "Dynegy and Enron Announce Merger", "text": "The key value for Dynegy in this acquisition is Enron's successful energy trading business. In addition, Dynegy could also find synergies in Enron's retail unit, Enron Energy Services and EnronOnline, the company's electronic trading unit. Dynegy has a similar trading site known as Dynegydirect, which was launched after Enron gained the first-strike advantage in this market space. Details are still emerging, but it would make sense if Dynegy opted to not purchase other units under Enron's business structure, such as the company's water and telecom businesses, which are losing money. Dynegy has its own telecom unit, which has also lost money this year, so it may not want to expand in this slow-growing sector at this time. Vivendi Environnement, a French company that has expanded into various lines of business, has reported", "clipped": true, "phrase": "Dynegy has a similar trading site known as Dynegydirect, which was launched after Enron gained the first-strike advantage in this market space.", "path": "kean-s/dynegy_transaction/4."}, "s189": {"from": "tana.jones@enron.com", "to": "larry.hunter@enron.com", "subject": "Re: DYNEGY DIRECT", "text": "with Dynegy.  However, the CP is requesting that we not send these Confirms \nat all.  Our Traders click on the deal which is then legally binding.  Our \nback office personnel double-check our Trade Entry by going to DynegyDirect's \nweb-site and checking the trade details.  Dynegy simply throws out our \nConfirmations once they determine it relates to a DynegyDirect deal.  I have \ntold the CP that I would check with our legal dept about the status of \nsending Confirmations traded on DynegyDirect.\n\nLet me know if you can get someone to comment on this.\n\nthanks,\nJoe\n\n---------------------- Forwarded by Larry Joe Hunter/HOU/ECT on 01/08/2001 \n04:06 PM ---------------------------\n\nJean Bell\n01/08/2001 03:37 PM\nTo: Larry Joe Hunter/HOU/ECT@ECT\ncc:  \nSubject: DYNEGY DIRECT", "clipped": true, "phrase": "Dynegy simply throws out our \nConfirmations once they determine it relates to a DynegyDirect deal.", "path": "jones-t/all_documents/9044."}, "s190": {"from": "tana.jones@enron.com", "to": "larry.hunter@enron.com", "subject": "Re: DYNEGY DIRECT", "text": "Just as I suspected.  I showed the attached email to Mark Taylor, and he says \nhe still wants to send out confirms, so if Dynegy wants to just throw them \nout, that's their business, but keep sending them as you would in the normal \ncourse of business.\n\n\tLarry Joe Hunter\n\t01/08/2001 04:22 PM\n\t\t \n\t\t To: Stephanie Panus/NA/Enron@Enron\n\t\t cc: Samantha Boyd/NA/Enron@Enron, Susan Bailey/HOU/ECT@ECT, Jean \nBell/HOU/ECT@ECT, Tana Jones/HOU/ECT@ECT\n\t\t Subject: DYNEGY DIRECT\n\nStephanie,\n\nWe currently do a couple of deals per day through an Online trading system", "clipped": true, "phrase": "he still wants to send out confirms, so if Dynegy wants to just throw them", "path": "jones-t/all_documents/9044."}, "s191": {"from": "tana.jones@enron.com", "to": "larry.hunter@enron.com", "subject": "Re: DYNEGY DIRECT", "text": "Let me know if you can get someone to comment on this.\n\nthanks,\nJoe\n\n---------------------- Forwarded by Larry Joe Hunter/HOU/ECT on 01/08/2001 \n04:06 PM ---------------------------\n\nJean Bell\n01/08/2001 03:37 PM\nTo: Larry Joe Hunter/HOU/ECT@ECT\ncc:  \nSubject: DYNEGY DIRECT\n\nDynegy is wanting to know if we can show \"Dynegy Direct\" on our confirms in \nthe same way that we show \"EOL\".    Dynegy has two separate systems, one for \nDynegy Direct and one for their 'daily' work, and because no confirms are \nsigned and returned or sent out,  our confirms are confusing when they do not \nfind them in their system.  Thanks.", "clipped": true, "phrase": "Dynegy is wanting to know if we can show \"Dynegy Direct\" on our confirms in", "path": "jones-t/all_documents/9044."}, "s192": {"from": "tana.jones@enron.com", "to": "larry.hunter@enron.com", "subject": "Re: DYNEGY DIRECT", "text": "04:06 PM ---------------------------\n\nJean Bell\n01/08/2001 03:37 PM\nTo: Larry Joe Hunter/HOU/ECT@ECT\ncc:  \nSubject: DYNEGY DIRECT\n\nDynegy is wanting to know if we can show \"Dynegy Direct\" on our confirms in \nthe same way that we show \"EOL\".    Dynegy has two separate systems, one for \nDynegy Direct and one for their 'daily' work, and because no confirms are \nsigned and returned or sent out,  our confirms are confusing when they do not \nfind them in their system.  Thanks.", "clipped": true, "phrase": "Dynegy has two separate systems, one for", "path": "jones-t/all_documents/9044."}, "s208": {"from": "sheri.thomas@enron.com", "to": "david.forster@enron.com, amita.gosalia@enron.com, sally.beck@enron.com", "subject": "Dynegydirect System Update", "text": "down.\n\nSheri\n---------------------- Forwarded by Sheri Thomas/HOU/ECT on 02/07/2001 01:30 \nPM ---------------------------\n\nCustomer.Care@dynegy.com on 02/07/2001 01:29:56 PM\nTo: \ncc:  \nSubject: Dynegydirect System Update\n\n(Embedded image moved to file: pic19718.gif)\nDear Dynegydirect User,\n\nAs of 2:00PM CT today, February, 7, 2001, the Dynegydirect application will\nbe unavailable.  Trading will resume tomorrow, February 8, 2001, during\nregularly scheduled hours.\nIf you have any questions or concerns, please do not hesitate to contact an\ne-Care analyst at the number listed below.   We apologize for any\ninconvenience this may have caused.\n\nThank you,\n\nDYNEGYdirect e- care\nCustomer Support\nDynegy, Inc.\nPh: (877) 396.XXXX   Fx: (877) 396.XXXX\nEmail: ecare@dynegydirect.com\n - pic19718.gif", "clipped": true, "phrase": "As of 2:00PM CT today, February, 7, 2001, the Dynegydirect application will\nbe unavailable.  Trading will resume tomorrow, February 8, 2001, during\nregularly scheduled hours.", "path": "beck-s/all_documents/383."}, "s220": {"from": "customer.care@dynegy.com", "to": "", "subject": "Dynegydirect Update", "text": "Dear Trader:\n\nDynegydirect will be unavailable at 5:30 pm Friday, February 16th, 2001.\n\nDynegydirect will be closed in observance of President's Day, Monday,\nFebruary 19th, 2001.\n\nDYNEGYdirect eCare\nCustomer Support\nDynegy, Inc.\nPh: (877) 396.XXXX   Fx: (877) 396.XXXX\nEmail: ecare@dynegydirect.com", "clipped": false, "phrase": "Dynegydirect will be closed in observance of President's Day, Monday,\nFebruary 19th, 2001.", "path": "jones-t/all_documents/9399."}, "s278": {"from": "susan.e.tilton@dynegy.com", "to": "", "subject": "New NGL Products Available on Dynegydirect", "text": "New Products Available on DYNEGY DIRECT\n\nOpen the attached spreadsheet to view a list of products that have been\nadded to the DYNEGY DIRECT catalog within the last business day.  For a\ncomprehensive list of products added within the last thirty (30) calendar\ndays please click the \"NEW PRODUCTS\" link on the DYNEGY DIRECT homepage.\nFor questions regarding new products please contact e-Care at:\n\n(See attached file: Neg1- 031301- Liquids.xls)\n\nDYNEGYdirect e- care\nCustomer Support\nDynegy, Inc.\nPh: (877) 396.XXXX   Fx: (877) 396.XXXX\nEmail: ecare@dynegydirect.com\n - Neg1- 031301- Liquids.xls", "clipped": false, "phrase": "Open the attached spreadsheet to view a list of products that have been\nadded to the DYNEGY DIRECT catalog within the last business day.", "path": "jones-t/all_documents/10086."}, "s366": {"from": "customer.care@dynegy.com", "to": "", "subject": "New Power Products Available on Dynegydirect", "text": "New Power Products Available on DYNEGY DIRECT\n\nFollowing is a list of Power products that have been added recently to the\nDYNEGY DIRECT catalog.  For a comprehensive list of products added within\nthe last thirty (30) calendar days please click the \"NEW PRODUCTS\" link on\nthe DYNEGY DIRECT homepage.\n\n(Embedded image moved to file: pic12382.pcx)\n\nFor questions regarding new products, please contact e-Care at:\n\nDYNEGYdirect e-care\nCustomer Support\nDynegy, Inc.\nPh: (877) 396.XXXX   Fx: (877) 396.XXXX\nEmail: ecare@dynegydirect.com\n\n - pic12382.pcx", "clipped": false, "phrase": "Following is a list of Power products that have been added recently to the\nDYNEGY DIRECT catalog.", "path": "jones-t/all_documents/11212."}, "s368": {"from": "customer.care@dynegy.com", "to": "", "subject": "New US Natural Gas Products Available on Dynegydirect", "text": "New US Natural Gas Products Available on DYNEGY DIRECT\n\nFollowing is a list of US Natural Gas products that have been added to the\nDYNEGY DIRECT catalog since March 23.  For a comprehensive list of products\nadded within the last thirty (30) calendar days please click the \"NEW\nPRODUCTS\" link on the DYNEGY DIRECT homepage.\n\n(Embedded image moved to file: pic27529.pcx)\n\nFor questions regarding new products, please contact e-Care at:\n\nDYNEGYdirect e-care\nCustomer Support\nDynegy, Inc.\nPh: (877) 396.XXXX   Fx: (877) 396.XXXX\nEmail: ecare@dynegydirect.com\n\n - pic27529.pcx", "clipped": false, "phrase": "Following is a list of US Natural Gas products that have been added to the\nDYNEGY DIRECT catalog since March 23.", "path": "jones-t/all_documents/11217."}, "s279": {"from": "mark.greenberg@enron.com", "to": "tana.jones@enron.com", "subject": "Dynegydirect", "text": "Tana -\n\nDo you know what the status of adding Coal to Dynegydirect is?  Who do I need \nto talk to?\n\nI thought we were supposed to get some thing from Dynegy on this.\n\nThanks for the update.\n\nHope all is warm in Calgary.\n\nMark\nSenior Counsel, ENA\nPhone:     713-345-XXXX\nFacsimile: 713-646-XXXX\nE-Mail:      Mark.Greenberg@enron.com", "clipped": false, "phrase": "I thought we were supposed to get some thing from Dynegy on this.", "path": "jones-t/all_documents/10130."}, "s285": {"from": "customer.care@dynegy.com", "to": "", "subject": "Dynegydirect", "text": "Dynegydirect was experiencing technical difficulties that required it to be\ntemporarily unavailable.  However the problems have been resolved and\ntraders may go ahead and log back in to Dynegydirect.\nWe are sorry for any inconveniences this may have caused you.  If you have\nany further questions please contact us at the number below.\n\nDYNEGYdirect e- care\nCustomer Support\nDynegy, Inc.\nPh: (877) 396.XXXX   Fx: (877) 396.XXXX\nEmail: ecare@dynegydirect.com", "clipped": false, "phrase": "Dynegydirect was experiencing technical difficulties that required it to be\ntemporarily unavailable.  However the problems have been resolved and\ntraders may go ahead and log back in to Dynegydirect.", "path": "jones-t/all_documents/10229."}, "s286": {"from": "kim.theriot@enron.com", "to": "leslie.reeves@enron.com, sally.beck@enron.com", "subject": "Contacts for Commodity Logic", "text": "Our advantage is that we want to automatch the entire universe of deals (Broker, EOL, Direct trades, trades done on other platforms (i.e. Dynegy Direct, ICE, etc.)) rather than just a subset of deals (i.e. Trades done on ICE as AEP suggested).\n\nJust want to pass this on to you to see if you had any concerns about providing this information to Tom.  I was planning on sending him an email tomorrow to give him the contact information.  Let me know.\n\nKim Theriot", "clipped": true, "phrase": "we want to automatch the entire universe of deals (Broker, EOL, Direct trades, trades done on other platforms (i.e. Dynegy Direct, ICE, etc.))", "path": "beck-s/commoditylogic/5."}, "s289": {"from": "mark.greenberg@enron.com", "to": "wayne.gresham@enron.com", "subject": "Revised Exhibit to the Dynegydirect ETA", "text": "E-Mail:      Mark.Greenberg@enron.com\n----- Forwarded by Mark Greenberg/NA/Enron on 03/27/2001 09:28 AM -----\n\n\tStephanie Sever@ECT\n\t03/27/2001 09:02 AM\n\t\t \n\t\t To: Mark Greenberg/NA/Enron@ENRON\n\t\t cc: \n\t\t Subject: Revised Exhibit to the Dynegydirect ETA\n\nMark,\n\nThis may help.  It appears that Dynegy has amended the ETA to include a \nMaster Agreement for Coal.\n\nThanks,\nStephanie\n---------------------- Forwarded by Stephanie Sever/HOU/ECT on 03/27/2001 \n08:54 AM ---------------------------\n   \n\nFrom:  Sheri Thomas                                                           \n  03/26/2001 01:15 PM\t\n\t\n\t\n\t                           \n\t\n\nTo: Stephanie Sever/HOU/ECT@ECT\ncc:  \nSubject: Revised Exhibit to the Dynegydirect ETA\n\nprobably should just file this one away.\nthanks", "clipped": true, "phrase": "It appears that Dynegy has amended the ETA to include a \nMaster Agreement for Coal.", "path": "jones-t/all_documents/10510."}, "s290": {"from": "mark.greenberg@enron.com", "to": "wayne.gresham@enron.com", "subject": "Revised Exhibit to the Dynegydirect ETA", "text": "thanks\n\n---------------------- Forwarded by Sheri Thomas/HOU/ECT on 03/26/2001 01:15 \nPM ---------------------------\n\nRon.E.Benton@dynegy.com on 03/26/2001 11:53:06 AM\nTo: sheri.thomas@enron.com\ncc:  \nSubject: Revised Exhibit to the Dynegydirect ETA\n\nDear Ms. Sheri Thomas,\n\nPlease attach the revised exhibit to your ETA with Dynegydirect.  The\nchange is due to your request for Coal and Emissions.\n\nIf you have any questions please call me at (713) 767-XXXX.\n\nThank you for your time and consideration in this matter.\n\n(See attached file: Enron North America(R).doc)\n - Enron North America(R).doc", "clipped": true, "phrase": "Please attach the revised exhibit to your ETA with Dynegydirect.  The\nchange is due to your request for Coal and Emissions.", "path": "jones-t/all_documents/10510."}, "s291": {"from": "mark.greenberg@enron.com", "to": "wayne.gresham@enron.com", "subject": "Revised Exhibit to the Dynegydirect ETA", "text": "Wayne -\n\nPlease see the below.\n\nI confirmed with Dynegydirect the use of the exhibit is to reflect situations \nwhere Enron has a master agreement that is intended to control over the \non-line GTC's.  With this attached to the ETA, the concerns you have about \nthe GTC's should be satisfied.\n\nPlease let me know if you should need anything further.\n\nThanks for your assistance.\n\nMark\nSenior Counsel, ENA\nPhone:     713-345-XXXX\nFacsimile: 713-646-XXXX\nE-Mail:      Mark.Greenberg@enron.com\n----- Forwarded by Mark Greenberg/NA/Enron on 03/27/2001 09:28 AM -----\n\n\tStephanie Sever@ECT\n\t03/27/2001 09:02 AM\n\t\t \n\t\t To: Mark Greenberg/NA/Enron@ENRON", "clipped": true, "phrase": "I confirmed with Dynegydirect the use of the exhibit is to reflect situations \nwhere Enron has a master agreement that is intended to control over the \non-line GTC's.", "path": "jones-t/all_documents/10510."}, "s306": {"from": "customer.care@dynegy.com", "to": "", "subject": "Dynegydirect message", "text": "Dynegydirect will be unavailable immediately.  If you have any questions,\nplease contact eCare.\n\nDYNEGYdirect e- care\nCustomer Support\nDynegy, Inc.\nPh: (877) 396.XXXX   Fx: (877) 396.XXXX\nEmail: ecare@dynegydirect.com", "clipped": false, "phrase": "Dynegydirect will be unavailable immediately.  If you have any questions,\nplease contact eCare.", "path": "jones-t/all_documents/10559."}, "s307": {"from": "customer.care@dynegy.com", "to": "", "subject": "Dynegydirect message", "text": "Dynegydirect is now available for use.  If you have any questions or\nconcerns, please\n contact eCare.\n\nDYNEGYdirect e- care\nCustomer Support\nDynegy, Inc.\nPh: (877) 396.XXXX   Fx: (877) 396.XXXX\nEmail: ecare@dynegydirect.com", "clipped": false, "phrase": "Dynegydirect is now available for use.  If you have any questions or\nconcerns, please\n contact eCare.", "path": "jones-t/all_documents/10563."}, "s314": {"from": "customer.care@dynegy.com", "to": "", "subject": "Survey", "text": "Dear Dynegydirect  Customer:\n\nIn our efforts to provide you the best on-line trading product in the\nindustry, we would like to request your participation in the following\nsurvey.  The survey contains questions regarding funtionality, performance\nand customer service of Dynegydirect.\n\nPlease follow the steps below to complete the survey.  The survey should\ntake less than 5 minutes to complete.\n\n1. Please click the link below to go to the survey.\n2. Enter your Dynegydirect ID on the first page and click on START.  We use\nyour ID to ensure that only Dynegydirect customers participate in the\nsurvey.\n3. Complete the survey and click on SUBMIT.\n\nhttp://www.dynegydirect.com/content/survey/satisfactionsurvey.htm", "clipped": true, "phrase": "The survey contains questions regarding funtionality, performance\nand customer service of Dynegydirect.", "path": "jones-t/all_documents/10679."}, "s315": {"from": "customer.care@dynegy.com", "to": "", "subject": "Survey", "text": "Dear Dynegydirect  Customer:\n\nIn our efforts to provide you the best on-line trading product in the\nindustry, we would like to request your participation in the following\nsurvey.  The survey contains questions regarding funtionality, performance\nand customer service of Dynegydirect.\n\nPlease follow the steps below to complete the survey.  The survey should\ntake less than 5 minutes to complete.\n\n1. Please click the link below to go to the survey.\n2. Enter your Dynegydirect ID on the first page and click on START.  We use\nyour ID to ensure that only Dynegydirect customers participate in the\nsurvey.", "clipped": true, "phrase": "In our efforts to provide you the best on-line trading product in the\nindustry, we would like to request your participation in the following\nsurvey.", "path": "jones-t/all_documents/10679."}, "s342": {"from": "vernesia.a.gipson@dynegy.com", "to": "", "subject": "Dynegydirect Holiday", "text": "Due to the Easter holiday, Dynegydirect will not be available on Friday,\nApril 13.  Dynegydirect will resume normal trading hours on Monday, April\n16.\n\nDYNEGYdirect e- care\nCustomer Support\nDynegy, Inc.\nPh: (877) 396.XXXX   Fx: (877) 396.XXXX\nEmail: ecare@dynegydirect.com", "clipped": false, "phrase": "DYNEGYdirect e- care\nCustomer Support\nDynegy, Inc.\nPh: (877) 396.XXXX   Fx: (877) 396.XXXX", "path": "jones-t/all_documents/10907."}, "s367": {"from": "customer.care@dynegy.com", "to": "", "subject": "New Power Products Available on Dynegydirect", "text": "New Power Products Available on DYNEGY DIRECT\n\nFollowing is a list of Power products that have been added recently to the\nDYNEGY DIRECT catalog.  For a comprehensive list of products added within\nthe last thirty (30) calendar days please click the \"NEW PRODUCTS\" link on\nthe DYNEGY DIRECT homepage.\n\n(Embedded image moved to file: pic12382.pcx)\n\nFor questions regarding new products, please contact e-Care at:\n\nDYNEGYdirect e-care\nCustomer Support\nDynegy, Inc.\nPh: (877) 396.XXXX   Fx: (877) 396.XXXX\nEmail: ecare@dynegydirect.com\n\n - pic12382.pcx", "clipped": false, "phrase": "DYNEGYdirect e-care\nCustomer Support\nDynegy, Inc.\nPh: (877) 396.XXXX   Fx: (877) 396.XXXX\nEmail: ecare@dynegydirect.com", "path": "jones-t/all_documents/11212."}, "s322": {"from": "vernesia.a.gipson@dynegy.com", "to": "", "subject": "Dynegydirect Update", "text": "Dear Dynegydirect Customer:\n\nDynegydirect is now available.  You may log back on at your earliest\nconvience.\n\nWe appreciate your patience.\n\nSincerely,\n\nDYNEGYdirect e- care\nCustomer Support\nDynegy, Inc.\nPh: (877) 396.XXXX   Fx: (877) 396.XXXX\nEmail: ecare@dynegydirect.com", "clipped": false, "phrase": "Dynegydirect is now available.  You may log back on at your earliest\nconvience.", "path": "jones-t/all_documents/10754."}, "s341": {"from": "vernesia.a.gipson@dynegy.com", "to": "", "subject": "Dynegydirect Holiday", "text": "Due to the Easter holiday, Dynegydirect will not be available on Friday,\nApril 13.  Dynegydirect will resume normal trading hours on Monday, April\n16.\n\nDYNEGYdirect e- care\nCustomer Support\nDynegy, Inc.\nPh: (877) 396.XXXX   Fx: (877) 396.XXXX\nEmail: ecare@dynegydirect.com", "clipped": false, "phrase": "Due to the Easter holiday, Dynegydirect will not be available on Friday,\nApril 13.", "path": "jones-t/all_documents/10907."}, "s343": {"from": "vernesia.a.gipson@dynegy.com", "to": "", "subject": "Dynegydirect Holiday April 13", "text": "Due to the Easter holiday, Dynegydirectwill not be available on Friday,\nApril 13. Dynegydirect will resume normal trading hours on Monday, April\n16.\n\nDYNEGYdirect e- care\nCustomer Support\nDynegy, Inc.\nPh: (877) 396.XXXX   Fx: (877) 396.XXXX\nEmail: ecare@dynegydirect.com", "clipped": false, "phrase": "April 13. Dynegydirect will resume normal trading hours on Monday, April\n16.", "path": "jones-t/all_documents/10906."}, "s344": {"from": "tim.belden@enron.com", "to": "greg.wolfe@enron.com, bill.iii@enron.com", "subject": "FYI: Dynegydirect introduces Hourly power", "text": "To:\tKevin M Presto/HOU/ECT@ECT, Tim Belden/HOU/ECT@ECT\ncc:\t \nSubject:\tFYI: Dynegydirect introduces Hourly power\n\nDynegy Introduces Hourly Power Products to Dynegydirect; Real-Time Market Information Provides Customers With Greater Control and Efficiency\nHOUSTON--(BUSINESS WIRE)--April 12, 2001--Dynegy Inc. (NYSE:DYN) has added hourly power products to Dynegydirect, the company's Internet-based, commission-free business-to-business portal and trading site for energy and communications commodities. Since trading began in November 2000, Dynegydirect has recorded more than $14 billion in notional transactions and now offers in excess of 700 products.", "clipped": true, "phrase": "Dynegy Inc. (NYSE:DYN) has added hourly power products to Dynegydirect, the company's Internet-based, commission-free business-to-business portal and trading site for energy and communications commodities.", "path": "williams-w3/timbelden/7."}, "s346": {"from": "tim.belden@enron.com", "to": "greg.wolfe@enron.com, bill.iii@enron.com", "subject": "FYI: Dynegydirect introduces Hourly power", "text": "Along with the energy and emission allowance product offerings, Dynegydirect now offers hourly power products backed by Dynegy's diversified commercial asset base. Hourly power markets for on-peak hours will initially be available at major interconnects in the Midwest. As Dynegy's generation portfolio expands throughout the country, additional North American hourly products and locations will be added to Dynegydirect.", "clipped": true, "phrase": "Hourly power markets for on-peak hours will initially be available at major interconnects in the Midwest.", "path": "williams-w3/timbelden/7."}, "s345": {"from": "tim.belden@enron.com", "to": "greg.wolfe@enron.com, bill.iii@enron.com", "subject": "FYI: Dynegydirect introduces Hourly power", "text": "HOUSTON--(BUSINESS WIRE)--April 12, 2001--Dynegy Inc. (NYSE:DYN) has added hourly power products to Dynegydirect, the company's Internet-based, commission-free business-to-business portal and trading site for energy and communications commodities. Since trading began in November 2000, Dynegydirect has recorded more than $14 billion in notional transactions and now offers in excess of 700 products.\nAlong with the energy and emission allowance product offerings, Dynegydirect now offers hourly power products backed by Dynegy's diversified commercial asset base. Hourly power markets for on-peak hours will initially be available at major interconnects in the Midwest. As Dynegy's generation portfolio expands throughout the country, additional North American hourly products and locations will be added to Dynegydirect.", "clipped": true, "phrase": "Since trading began in November 2000, Dynegydirect has recorded more than $14 billion in notional transactions and now offers in excess of 700 products.", "path": "williams-w3/timbelden/7."}, "s348": {"from": "tim.belden@enron.com", "to": "greg.wolfe@enron.com, bill.iii@enron.com", "subject": "FYI: Dynegydirect introduces Hourly power", "text": "Dynegydirect provides customers with real-time access to prices for natural gas, power, natural gas liquids, coal and emission allowances in North America. Dynegy customers and new users can view Dynegydirect's features and register online by visiting www.dynegydirect.com <http://www.dynegydirect.com>.", "clipped": true, "phrase": "Dynegydirect provides customers with real-time access to prices for natural gas, power, natural gas liquids, coal and emission allowances in North America.", "path": "williams-w3/timbelden/7."}, "s359": {"from": "kim.theriot@enron.com", "to": "sally.beck@enron.com, leslie.reeves@enron.com", "subject": "Update on Confirm Logic", "text": "So far, we have not done any further testing on ConfirmLogic since early last \nweek when we encountered the problems with the volume and price displays.  \nKathryn called me late on Friday and said that they would let us know when we \ncan resume testing.  We have not heard from them this morning.\n\nTheir demo last Thursday for the Beta Clients went well.  The customers that \nparticipated in the demo were Reliant, Dynegy, Calpine, and Sempra (Sempra \nparticipated via Video Conference from Enron's New York Office.)  Dynegy \nimmediately said that they were very interested and I heard that Reliant \ncalled back and expressed their interest as well.\n\nI will keep you posted on any further developments.\n\nKim Theriot", "clipped": false, "phrase": "Dynegy \nimmediately said that they were very interested and I heard that Reliant \ncalled back and expressed their interest as well.", "path": "beck-s/all_documents/601."}, "s361": {"from": "sally.beck@enron.com", "to": "greg.piper@enron.com", "subject": "RE: Update on Confirm Logic", "text": "can resume testing.  We have not heard from them this morning.\n\nTheir demo last Thursday for the Beta Clients went well.  The customers that \nparticipated in the demo were Reliant, Dynegy, Calpine, and Sempra (Sempra \nparticipated via Video Conference from Enron's New York Office.)  Dynegy \nimmediately said that they were very interested and I heard that Reliant \ncalled back and expressed their interest as well.\n\nI will keep you posted on any further developments.\n\nKim Theriot", "clipped": true, "phrase": "Dynegy \nimmediately said that they were very interested and I heard that Reliant \ncalled back and expressed their interest as well.", "path": "beck-s/_sent_mail/678."}, "s362": {"from": "greg.piper@enron.com", "to": "sally.beck@enron.com", "subject": "RE: Update on Confirm Logic", "text": "can resume testing.  We have not heard from them this morning.\n\nTheir demo last Thursday for the Beta Clients went well.  The customers that \nparticipated in the demo were Reliant, Dynegy, Calpine, and Sempra (Sempra \nparticipated via Video Conference from Enron's New York Office.)  Dynegy \nimmediately said that they were very interested and I heard that Reliant \ncalled back and expressed their interest as well.\n\nI will keep you posted on any further developments.\n\nKim Theriot", "clipped": true, "phrase": "Dynegy \nimmediately said that they were very interested and I heard that Reliant \ncalled back and expressed their interest as well.", "path": "beck-s/all_documents/2798."}, "s363": {"from": "kim.theriot@enron.com", "to": "sally.beck@enron.com, leslie.reeves@enron.com", "subject": "Update on Confirm Logic", "text": "So far, we have not done any further testing on ConfirmLogic since early last week when we encountered the problems with the volume and price displays.  Kathryn called me late on Friday and said that they would let us know when we can resume testing.  We have not heard from them this morning.\n\nTheir demo last Thursday for the Beta Clients went well.  The customers that participated in the demo were Reliant, Dynegy, Calpine, and Sempra (Sempra participated via Video Conference from Enron's New York Office.)  Dynegy immediately said that they were very interested and I heard that Reliant called back and expressed their interest as well.\n\nI will keep you posted on any further developments.\n\nKim Theriot", "clipped": false, "phrase": "The customers that participated in the demo were Reliant, Dynegy, Calpine, and Sempra", "path": "beck-s/commoditylogic/3."}, "s364": {"from": "sally.beck@enron.com", "to": "greg.piper@enron.com", "subject": "Update on Confirm Logic", "text": "Their demo last Thursday for the Beta Clients went well.  The customers that participated in the demo were Reliant, Dynegy, Calpine, and Sempra (Sempra participated via Video Conference from Enron's New York Office.)  Dynegy immediately said that they were very interested and I heard that Reliant called back and expressed their interest as well.\n\nI will keep you posted on any further developments.\n\nKim Theriot", "clipped": true, "phrase": "Dynegy immediately said that they were very interested and I heard that Reliant called back and expressed their interest as well.", "path": "beck-s/sent_items/81."}, "s365": {"from": "sally.beck@enron.com", "to": "greg.piper@enron.com", "subject": "RE: Update on Confirm Logic", "text": "Their demo last Thursday for the Beta Clients went well.  The customers that participated in the demo were Reliant, Dynegy, Calpine, and Sempra (Sempra participated via Video Conference from Enron's New York Office.)  Dynegy immediately said that they were very interested and I heard that Reliant called back and expressed their interest as well.\n\nI will keep you posted on any further developments.\n\nKim Theriot \n\n<Embedded Picture (Device Independent Bitmap)>", "clipped": true, "phrase": "Dynegy immediately said that they were very interested and I heard that Reliant called back and expressed their interest as well.", "path": "beck-s/sent_items/78."}, "s360": {"from": "sally.beck@enron.com", "to": "greg.piper@enron.com", "subject": "Update on Confirm Logic", "text": "week when we encountered the problems with the volume and price displays.  \nKathryn called me late on Friday and said that they would let us know when we \ncan resume testing.  We have not heard from them this morning.\n\nTheir demo last Thursday for the Beta Clients went well.  The customers that \nparticipated in the demo were Reliant, Dynegy, Calpine, and Sempra (Sempra \nparticipated via Video Conference from Enron's New York Office.)  Dynegy \nimmediately said that they were very interested and I heard that Reliant \ncalled back and expressed their interest as well.\n\nI will keep you posted on any further developments.\n\nKim Theriot", "clipped": true, "phrase": "The customers that \nparticipated in the demo were Reliant, Dynegy, Calpine, and Sempra", "path": "beck-s/_sent_mail/681."}, "s467": {"from": "customer.care@dynegy.com", "to": "sally.beck@enron.com", "subject": "Notification of Dynegydirect New User ID", "text": "Dear New Dynegydirect User,\n\nPer our conversation, this email is being sent as a confirmation of your\nnew Dynegydirect ID\nand password.  Your ID must be typed in all caps and the password must be\nin lowercase.  You\nwill be prompted to change the password to one of your choosing during the\ninitial login.  Below is\nyour ID and password which must be entered exactly as shown.\n\nDynegydirect ID-    EGLSBECK\nPASSWORD-      password1\n\nThe following requirements must  be used when changing your password and\nsetting up new users.\n\nPassword requirements:\nMinimum: 6\nMaximum: 15", "clipped": true, "phrase": "Per our conversation, this email is being sent as a confirmation of your\nnew Dynegydirect ID\nand password.", "path": "beck-s/inbox/354."}, "s497": {"from": "judy.thorne@enron.com", "to": "tana.jones@enron.com", "subject": "Dynegy Direct", "text": "Tana,\n\nI have picked up the Dynegy Direct contract from Sally Beck.  Jean Mrha has \nsigned it, and I will be faxing a copy and mailing one of the originals of \nthe agreement back to Dynegy tomorrow. Please let me know if you need \nanything else on this agreement.\n\nThanks,\nJudy Thorne", "clipped": false, "phrase": "Jean Mrha has \nsigned it, and I will be faxing a copy and mailing one of the originals of \nthe agreement back to Dynegy tomorrow.", "path": "jones-t/all_documents/12358."}, "s498": {"from": "tana.jones@enron.com", "to": "judy.thorne@enron.com", "subject": "Re: Dynegy Direct", "text": "Please return our original copy of the agreement to me along with the copy of \nthe cover letter evidencing that you sent the copy to Dynegy.  Thanks.\n\n\tJudy Thorne/ENRON@enronXgate\n\t06/05/2001 06:11 PM\n\t\t \n\t\t To: Tana Jones/HOU/ECT@ECT\n\t\t cc: Patti Thompson/ENRON@enronXgate\n\t\t Subject: Dynegy Direct\n\nTana,\n\nI have picked up the Dynegy Direct contract from Sally Beck.  Jean Mrha has \nsigned it, and I will be faxing a copy and mailing one of the originals of \nthe agreement back to Dynegy tomorrow. Please let me know if you need \nanything else on this agreement.\n\nThanks,\nJudy Thorne", "clipped": false, "phrase": "I have picked up the Dynegy Direct contract from Sally Beck.  Jean Mrha has \nsigned it", "path": "jones-t/all_documents/12368."}, "s499": {"from": "judy.thorne@enron.com", "to": "tana.jones@enron.com", "subject": "RE: Dynegy Direct", "text": "Tana,\n\nI just noticed that the contract is not signed by Dynegy. I have to send back \nboth originals. Do you want me to FedEx it to them or do you want to do it?\n\nJudy\n\n -----Original Message-----\nFrom:  Jones, Tana  \nSent: Wednesday, June 06, 2001 8:17 AM\nTo: Thorne, Judy\nSubject: Re: Dynegy Direct\n\nPlease return our original copy of the agreement to me along with the copy of \nthe cover letter evidencing that you sent the copy to Dynegy.  Thanks.\n\n\tJudy Thorne/ENRON@enronXgate 06/05/2001 06:11 PM \t   To: Tana \nJones/HOU/ECT@ECT  cc: Patti Thompson/ENRON@enronXgate  Subject: Dynegy Direct\n\nTana,\n\nI have picked up the Dynegy Direct contract from Sally Beck.  Jean Mrha has \nsigned it, and I will be faxing a copy and mailing one of the originals of \nthe agreement back to Dynegy tomorrow. Please let me know if you need \nanything else on this agreement.\n\nThanks,\nJudy Thorne", "clipped": false, "phrase": "I just noticed that the contract is not signed by Dynegy. I have to send back \nboth originals.", "path": "jones-t/all_documents/12372."}, "s500": {"from": "tana.jones@enron.com", "to": "judy.thorne@enron.com", "subject": "RE: Dynegy Direct", "text": "No, please send to me and I will handle.\n\n\tJudy Thorne/ENRON@enronXgate\n\t06/06/2001 09:06 AM\n\t\t \n\t\t To: Tana Jones/HOU/ECT@ECT\n\t\t cc: \n\t\t Subject: RE: Dynegy Direct\n\nTana,\n\nI just noticed that the contract is not signed by Dynegy. I have to send back \nboth originals. Do you want me to FedEx it to them or do you want to do it?\n\nJudy\n\n -----Original Message-----\nFrom:  Jones, Tana  \nSent: Wednesday, June 06, 2001 8:17 AM\nTo: Thorne, Judy\nSubject: Re: Dynegy Direct\n\nPlease return our original copy of the agreement to me along with the copy of \nthe cover letter evidencing that you sent the copy to Dynegy.  Thanks.\n\n\tJudy Thorne/ENRON@enronXgate 06/05/2001 06:11 PM \t   To: Tana", "clipped": true, "phrase": "I just noticed that the contract is not signed by Dynegy. I have to send back \nboth originals.", "path": "jones-t/all_documents/12373."}, "s501": {"from": "judy.thorne@enron.com", "to": "tana.jones@enron.com", "subject": "RE: Dynegy Direct", "text": "-----Original Message-----\nFrom:  Jones, Tana  \nSent: Wednesday, June 06, 2001 9:12 AM\nTo: Thorne, Judy\nSubject: RE: Dynegy Direct\n\nNo, please send to me and I will handle.\n\n\tJudy Thorne/ENRON@enronXgate 06/06/2001 09:06 AM \t   To: Tana \nJones/HOU/ECT@ECT  cc:   Subject: RE: Dynegy Direct\n\nTana,\n\nI just noticed that the contract is not signed by Dynegy. I have to send back \nboth originals. Do you want me to FedEx it to them or do you want to do it?\n\nJudy\n\n -----Original Message-----\nFrom:  Jones, Tana  \nSent: Wednesday, June 06, 2001 8:17 AM\nTo: Thorne, Judy\nSubject: Re: Dynegy Direct\n\nPlease return our original copy of the agreement to me along with the copy of \nthe cover letter evidencing that you sent the copy to Dynegy.  Thanks.\n\n\tJudy Thorne/ENRON@enronXgate 06/05/2001 06:11 PM \t   To: Tana", "clipped": true, "phrase": "I just noticed that the contract is not signed by Dynegy. I have to send back \nboth originals.", "path": "jones-t/all_documents/12374."}, "s554": {"from": "torrey.moorer@enron.com", "to": "savita.puthigai@enron.com", "subject": "FW: First Cut Canada Data", "text": "* Enron North America did a higher percentage of the trading on Canadian Gas products in Nov00-Jan01 than they did during the earlier months.\n \n* There are a handful of counterparties such as Murphy Oil and Dynegy Marketing which conducted business with Canada on EOL before and since the Nov-Jan lull period, but did not do online transactions with us during the three months where our trade volumes and deal counts were lowest. \n \n\nTorrey Moorer \nEnronOnline Product Control Group \n(713) 853-XXXX", "clipped": true, "phrase": "There are a handful of counterparties such as Murphy Oil and Dynegy Marketing which conducted business with Canada on EOL before and since the Nov-Jan lull period", "path": "kitchen-l/_americas/eol/184."}, "s571": {"from": "louise.kitchen@enron.com", "to": "brad.richter@enron.com", "subject": "RE: TrueQuote update", "text": "I need your guidance regarding a few issues currently outstanding with respect to the True Quote / EnronOnline relationship.  Practically speaking, Enron's internal decisions will determine the fate of True Quote in its current form.  I will outline the issues below and await your response.\n\nWe are closing in on a deal that will connect DynegyDirect to the True Quote platform.  We believe True Quote would have a strong competitive advantage against ICE if we have a commitment from Enron and DynegyDirect.  We are hestitant to move forward with Dynegy until we have a complete understanding of our relationship with Enron.\n\nTrue Quote has made a proposal to EnronOnline that would create a revenue stream to Enron in return for a larger product commitment from Enron.  We are waiting on a response from Enron.", "clipped": true, "phrase": "We are closing in on a deal that will connect DynegyDirect to the True Quote platform.", "path": "kitchen-l/sent_items/939."}, "s572": {"from": "louise.kitchen@enron.com", "to": "brad.richter@enron.com", "subject": "RE: TrueQuote update", "text": "Finally, if Dynegy puts prices there as well, that may be helpful to our equity but I don't think it is a high priority for EA as a trading company.\n\nI discussed all this with Louise a month ago and I believe she supports our path.  I will check with her and Lavo Monday to make sure they are in agreement with any response we give to Chris.\n\nLet me know if you need more info or want me to check with you as well before we respond to TrueQuote.\n\nThanks.\n\nGreg Piper\n\n -----Original Message-----\nFrom: \tTaylor, Liz M.  \nSent:\tFriday, September 28, 2001 3:24 PM\nTo:\tPiper, Greg\nCc:\tSpiller, Tina", "clipped": true, "phrase": "if Dynegy puts prices there as well, that may be helpful to our equity but I don't think it is a high priority for EA as a trading company.", "path": "kitchen-l/sent_items/939."}, "s573": {"from": "stephanie.sever@enron.com", "to": "tana.jones@enron.com", "subject": "US East and West Phy Power Audit", "text": "Tana,\n \nI have amended profiles for all the counterparties that had incorrect access to US Phy Power with the exception of the following:\n \nAlcoa, Inc.\nDiamond Shamrock Refining & Marketing Co.\nDupont E.I. De Nemours and Company\nDuke Energy NGL Services, LLC\nDynegy Liquids Marketing and Trade\nGulf Canada Energy Partnership\nIMC Global Inc.\nLouisiana Gas Service, Co.\nMerek & Co., Inc.\nMinnesota Mining &Manufacturing Company\nMotiva Enertprises LLC\nNStar Companies\nPPG Industries, Inc.\nPublic Service Company of Colorado (west only)\nPublic Utility District #1 of Chelan County (west only)\nPublic Utility District No. 1 of Benton County (west Only)\nSacramento Municipal Utility District (west only)\nSouthern Natural Gas Company\nTranscanada Power Mktg, Ltd.", "clipped": true, "phrase": "Duke Energy NGL Services, LLC\nDynegy Liquids Marketing and Trade\nGulf Canada Energy Partnership", "path": "jones-t/inbox/264."}, "s626": {"from": "leslie.hansen@enron.com", "to": "stephanie.sever@enron.com", "subject": "RE: US East and West Phy Power Audit", "text": "Tana,\n \nI have amended profiles for all the counterparties that had incorrect access to US Phy Power with the exception of the following:\n \nAlcoa, Inc.\nDiamond Shamrock Refining & Marketing Co.\nDupont E.I. De Nemours and Company\nDuke Energy NGL Services, LLC\nDynegy Liquids Marketing and Trade\nGulf Canada Energy Partnership\nIMC Global Inc.\nLouisiana Gas Service, Co.\nMerek & Co., Inc.\nMinnesota Mining &Manufacturing Company\nMotiva Enertprises LLC\nNStar Companies\nPPG Industries, Inc.\nPublic Service Company of Colorado (west only)\nPublic Utility District #1 of Chelan County (west only)\nPublic Utility District No. 1 of Benton County (west Only)\nSacramento Municipal Utility District (west only)\nSouthern Natural Gas Company", "clipped": true, "phrase": "Dynegy Liquids Marketing and Trade", "path": "jones-t/inbox/513."}, "s589": {"from": "rahil.jafry@enron.com", "to": "louise.kitchen@enron.com", "subject": "Fw: Rahil Jafry: USA:   UPDATE 4-Dynegy hits upper end of Q3   earnings targets.", "text": "per day (Bcf/d) in the quarter, rising from 9.8 Bcf/d in the year-earlier\nperiod. Total physical power sales increased 86 percent to 90.5 million\nmegawatt hours (MWh) in the 2001 third quarter, compared with 48.7 million MWh\nin the same quarter a year ago.\n\nDynegydirect, the company's online trading platform for more than 750 products\nand services, recorded nearly $10 billion in transactions in the third\nquarter, the company said. Since its birth in November 2000, Dynegydirect has\nrecorded $33 billion in transactions.\n\nDynegy recently expanded the platform, its answer to hometown rival Enron\nCorp.'s wildly successful EnronOnline trading platform, into British energy\nmarkets.\n\nOne nominally lower performer this year was Illinois Power, Dynegy's regulated\ntransmission and distribution subsidiary. It reported recurring net income of", "clipped": true, "phrase": "Dynegydirect, the company's online trading platform for more than 750 products\nand services, recorded nearly $10 billion in transactions in the third\nquarter", "path": "kitchen-l/_americas/east_power/32."}, "s590": {"from": "rahil.jafry@enron.com", "to": "louise.kitchen@enron.com", "subject": "Fw: Rahil Jafry: USA:   UPDATE 4-Dynegy hits upper end of Q3   earnings targets.", "text": "megawatt hours (MWh) in the 2001 third quarter, compared with 48.7 million MWh\nin the same quarter a year ago.\n\nDynegydirect, the company's online trading platform for more than 750 products\nand services, recorded nearly $10 billion in transactions in the third\nquarter, the company said. Since its birth in November 2000, Dynegydirect has\nrecorded $33 billion in transactions.\n\nDynegy recently expanded the platform, its answer to hometown rival Enron\nCorp.'s wildly successful EnronOnline trading platform, into British energy\nmarkets.\n\nOne nominally lower performer this year was Illinois Power, Dynegy's regulated\ntransmission and distribution subsidiary. It reported recurring net income of\n$26 million versus $27 million a year earlier. Dynegy attributed the smaller\nfigure to a reduced industrial load.", "clipped": true, "phrase": "Since its birth in November 2000, Dynegydirect has\nrecorded $33 billion in transactions.", "path": "kitchen-l/_americas/east_power/32."}, "s653": {"from": "rahil.jafry@enron.com", "to": "louise.kitchen@enron.com", "subject": "FW:      Dynegy vs. Enron:  A Tale of Two Companies", "text": "ing standards, but it is important to acknowledge that in this particular case Enron was successful in launching into the electronic trading space well ahead of its competitors. The latest available information indicates that EnronOnline has recorded transactions that exceed $590 in notional value. Since its inception in November 2000, Dynegydirect has recorded $33 billion in notional transactions.", "clipped": true, "phrase": "Since its inception in November 2000, Dynegydirect has recorded $33 billion in notional transactions.", "path": "kitchen-l/_americas/mrha/ooc/26."}, "s591": {"from": "rahil.jafry@enron.com", "to": "louise.kitchen@enron.com", "subject": "Fw: Rahil Jafry: USA:   UPDATE 4-Dynegy hits upper end of Q3   earnings targets.", "text": "Dynegydirect, the company's online trading platform for more than 750 products\nand services, recorded nearly $10 billion in transactions in the third\nquarter, the company said. Since its birth in November 2000, Dynegydirect has\nrecorded $33 billion in transactions.\n\nDynegy recently expanded the platform, its answer to hometown rival Enron\nCorp.'s wildly successful EnronOnline trading platform, into British energy\nmarkets.\n\nOne nominally lower performer this year was Illinois Power, Dynegy's regulated\ntransmission and distribution subsidiary. It reported recurring net income of\n$26 million versus $27 million a year earlier. Dynegy attributed the smaller\nfigure to a reduced industrial load.\n\nThe company's new communications segment took a $15 million loss for the\nquarter, mostly from costs associated with developing its 16,000-mile network.", "clipped": true, "phrase": "Dynegy recently expanded the platform, its answer to hometown rival Enron\nCorp.'s wildly successful EnronOnline trading platform, into British energy\nmarkets.", "path": "kitchen-l/_americas/east_power/32."}, "s637": {"from": "issuealert@scientech.com", "to": "issuealerthtml@listserv.scientech.com", "subject": "Dynegy vs. Enron:  A Tale of Two Companies", "text": "ing standards, but it is important to acknowledge that in this particular case Enron was successful in launching into the electronic trading space well ahead of its competitors. The latest available information indicates that EnronOnline has recorded transactions that exceed $590 in notional value. Since its inception in November 2000, Dynegydirect has recorded $33 billion in notional transactions.", "clipped": true, "phrase": "Since its inception in November 2000, Dynegydirect has recorded $33 billion in notional transactions.", "path": "kean-s/deleted_items/213."}, "s1339": {"from": "peggy.mccurley@enron.com", "to": "louise.kitchen@enron.com", "subject": "An article from CBS.MarketWatch.com", "text": "his does not reflect a failure of the energy merchant business,\" he said.   Dynegy President and Chief Operating Officer Steve Bergstrom said that energy traders have had weeks to prepare for Enron's diminished role in the business and that the industry has suffered \"no degradation,\" as he put it.  \"There has been a clear flight to quality, and it's occurring as we speak,\" Bergstrom said. \"Dynegydirect is a highly scalable platform.\"  Dynegydirect is a platform much like Enron's flagship EnronOnline, which it turned off Wednesday and which just a month ago was the largest online energy-trading platform, accounting for an average of $3 billion in trades a day.  Dynegy's trading exposure to Enron is $75 million, and the company is no longer trading with its embattled former merger partner and fellow Houston industrial giant, Bergstrom said.  \"Dynegy's customer-based, asset-bac", "clipped": true, "phrase": "\"There has been a clear flight to quality, and it's occurring as we speak,\" Bergstrom said. \"Dynegydirect is a highly scalable platform.\"", "path": "kitchen-l/_americas/esvl/426."}, "s892": {"from": "jay.webb@enron.com", "to": "louise.kitchen@enron.com", "subject": "do they get it?", "text": "NEW YORK, Nov 12 (Reuters) - Online energy trading\nleader EnronOnline will merge with smaller rival\nDynegyDirect after its parent company Enron Corp.\n(NYSE:ENE - news) agreed last week to a $9 billion\ntakeover by Dynegy Inc. (NYSE:DYN - news), Dynegy said\nMonday.\n\nThe integration of the two platforms will take about\nsix to nine months, Dynegy said. In the meantime, the\ntwo will continue to operate separately.\n\n``We're looking to take the best of both platforms for\nthe integrated company,'' said Dynegy spokesman John\nSousa. ``(The emerging platform) will continue to be", "clipped": true, "phrase": "leader EnronOnline will merge with smaller rival\nDynegyDirect after its parent company Enron Corp.", "path": "kitchen-l/_americas/esvl/558."}, "s893": {"from": "jay.webb@enron.com", "to": "louise.kitchen@enron.com", "subject": "do they get it?", "text": "NEW YORK, Nov 12 (Reuters) - Online energy trading\nleader EnronOnline will merge with smaller rival\nDynegyDirect after its parent company Enron Corp.\n(NYSE:ENE - news) agreed last week to a $9 billion\ntakeover by Dynegy Inc. (NYSE:DYN - news), Dynegy said\nMonday.\n\nThe integration of the two platforms will take about\nsix to nine months, Dynegy said. In the meantime, the\ntwo will continue to operate separately.\n\n``We're looking to take the best of both platforms for\nthe integrated company,'' said Dynegy spokesman John\nSousa. ``(The emerging platform) will continue to be\nbased on a one-to-many philosophy as it stands now.''\n\nOn both EnronOnline and DynegyDirect traders can only\ndeal with Enron and Dynegy, respectively.\n\nEnronOnline is the biggest online energy trading\nplatform in the United States, with a daily average of", "clipped": true, "phrase": "The integration of the two platforms will take about\nsix to nine months, Dynegy said. In the meantime, the\ntwo will continue to operate separately.", "path": "kitchen-l/_americas/esvl/558."}, "s895": {"from": "jay.webb@enron.com", "to": "louise.kitchen@enron.com", "subject": "do they get it?", "text": "two will continue to operate separately.\n\n``We're looking to take the best of both platforms for\nthe integrated company,'' said Dynegy spokesman John\nSousa. ``(The emerging platform) will continue to be\nbased on a one-to-many philosophy as it stands now.''\n\nOn both EnronOnline and DynegyDirect traders can only\ndeal with Enron and Dynegy, respectively.\n\nEnronOnline is the biggest online energy trading\nplatform in the United States, with a daily average of\n$2.6 billion in trades in the past month.\n\nDynegyDirect is a much smaller, though growing\nplatform. It recorded nearly $10 billion in\ntransactions in the third quarter.\n\nThe two platforms offer trading in hundreds of\nproducts and services, from crude oil and refined\nproducts, to natural gas and electricity. Most of the", "clipped": true, "phrase": "On both EnronOnline and DynegyDirect traders can only\ndeal with Enron and Dynegy, respectively.", "path": "kitchen-l/_americas/esvl/558."}, "s896": {"from": "jay.webb@enron.com", "to": "louise.kitchen@enron.com", "subject": "do they get it?", "text": "based on a one-to-many philosophy as it stands now.''\n\nOn both EnronOnline and DynegyDirect traders can only\ndeal with Enron and Dynegy, respectively.\n\nEnronOnline is the biggest online energy trading\nplatform in the United States, with a daily average of\n$2.6 billion in trades in the past month.\n\nDynegyDirect is a much smaller, though growing\nplatform. It recorded nearly $10 billion in\ntransactions in the third quarter.\n\nThe two platforms offer trading in hundreds of\nproducts and services, from crude oil and refined\nproducts, to natural gas and electricity. Most of the\ntrading is done in U.S. markets, but some European\nmarkets are available as well.\n\nEnron, currently North America's biggest buyer and\nseller of both natural gas and electricity, agreed to\na Dynegy buyout after it was overwhelmed by a series\nof problems, including a U.S. regulatory probe into", "clipped": true, "phrase": "DynegyDirect is a much smaller, though growing\nplatform. It recorded nearly $10 billion in\ntransactions in the third quarter.", "path": "kitchen-l/_americas/esvl/558."}, "s112": {"from": "steven.kean@enron.com", "to": "joe.hartsoe@enron.com", "subject": "Enron Mentions", "text": "discussed in December or January, according to Filner, and if he gets enough \nsupport by the mostly Republican caucus, companies like Enron Corp. (ENE), \nDuke Energy North America (DUK), Southern Co. (SO). Reliant Energy (REI) and \nDynegy (DYN), would only be allowed to show a certain amount of profit and \nanything over that amount would be taxed 100%. \nFilner said the amount of profit hasn't been determined but his bill calls \nfor a baseline that would be a \"just and reasonable\" amount of profit. \nThe congressman's San Diego constituents were paying market-based electricity \nrates in the summer which resulted in triple-digit utility bills. He said \ngenerators are gouging California customers and need to be held responsible.", "clipped": true, "phrase": "Dynegy (DYN), would only be allowed to show a certain amount of profit and \nanything over that amount would be taxed 100%.", "path": "kean-s/all_documents/1671."}, "s113": {"from": "steven.kean@enron.com", "to": "cbone@wyattfirm.com, richard.shapiro@enron.com", "subject": "Enron Mentions", "text": "discussed in December or January, according to Filner, and if he gets enough \nsupport by the mostly Republican caucus, companies like Enron Corp. (ENE), \nDuke Energy North America (DUK), Southern Co. (SO). Reliant Energy (REI) and \nDynegy (DYN), would only be allowed to show a certain amount of profit and \nanything over that amount would be taxed 100%. \nFilner said the amount of profit hasn't been determined but his bill calls \nfor a baseline that would be a \"just and reasonable\" amount of profit. \nThe congressman's San Diego constituents were paying market-based electricity \nrates in the summer which resulted in triple-digit utility bills. He said \ngenerators are gouging California customers and need to be held responsible.", "clipped": true, "phrase": "Dynegy (DYN), would only be allowed to show a certain amount of profit and \nanything over that amount would be taxed 100%.", "path": "kean-s/all_documents/1672."}, "s122": {"from": "ann.schmidt@enron.com", "to": "mark.palmer@enron.com, karen.denne@enron.com, meredith.philipp@enron.com,   \tsteven.kean@enron.com, elizabeth.linnell@enron.com,   \teric.thode@enron.com, laura.schwartz@enron.com,   \tjeannie.mandelker@enron.com, mary.clark@enron.com,   \tdam", "subject": "FERC Coverage", "text": "In general, observers reacted positively to the FERC proposals, which will be \nthe subject of a public hearing on Nov. 9. Generators were relieved there \nwon't be refunds and were happy that the new \"soft cap\" system would allow \nprice variation among generators with different costs. Steve Bergstrom, \npresident of Dynegy Inc., which owns power plants in California, said he is \npleased \" FERC has shown it isn't going to stop deregulation.\" \nUtilities were pleased at the effort at cost containment and purchasing \nflexibility. But Mike Florio, an attorney for a San Francisco consumer group \nwho sits on both the ISO and Power Exchange boards, said he finds it \nimpossible to reconcile FERC 's conclusion that prices weren't fair with its \nreluctance to seize profits. \"I thought `just and reasonable' rates were a \nrequirement of the law, not just some guiding principle,\" he said.", "clipped": true, "phrase": "Steve Bergstrom, \npresident of Dynegy Inc., which owns power plants in California, said he is \npleased \" FERC has shown it isn't going to stop deregulation.\"", "path": "kean-s/all_documents/1794."}, "s125": {"from": "ann.schmidt@enron.com", "to": "richard.sanders@enron.com", "subject": "FERC Coverage", "text": "eliminating a state rule that PG&E Corp., Edison International and\nSempra Energy purchase almost all their power through the\nexchange, which cost California consumers more than $100 million\nto create. FERC expects to issue a final order by year-end.\n     Under the proposal, the utilities could buy electricity\nthrough other exchanges or directly from providers such as Enron\nCorp. and Dynegy Inc. FERC said the move would help fix\nCalifornia's ``seriously flawed'' market, where supply shortages\nforced utilities to cut power to some customers this summer.\n     ``The role of the power exchange is going to shrink,'' said\nJosh Rokach, an adviser to FERC Commissioner Curt Hebert. ``People\nwill rely more on bilateral contracts'' between utilities and\ngenerators, he said.\n     Nettie Hoge, executive director of the Utility Reform", "clipped": true, "phrase": "Under the proposal, the utilities could buy electricity\nthrough other exchanges or directly from providers such as Enron\nCorp. and Dynegy Inc.", "path": "sanders-r/all_documents/890."}, "s197": {"from": "jeff.dasovich@enron.com", "to": "alan.comnes@enron.com, angela.schwarz@enron.com, beverly.aden@enron.com,   \tbill.votaw@enron.com, brenda.barreda@enron.com,   \tcarol.moffett@enron.com, cathy.corbin@enron.com,   \tchris.foster@enron.com, christina.liscano@enron.com,   \tchris", "subject": "Legislative Weekly Report Week Ending 1/12", "text": "sure, if you haven't already, to send us a list of your representatives so\nwe can contact you when a meeting with them has been confirmed.\n\n-- Assembly U&C staff organized a meeting with the CEC and generators with\nrepower projects.  Generators in attendance included representatives from\nDuke, Dynegy, Southern, AES and Sunrise (Williams was there but didn't\nspeak).  After each of the participants airing their grievances, we were\ntasked with developing language, getting the generating industry to support\nit and supporting it in the legislative process.  We were given until Friday\nto hand in bill language to the U&C staff.  Such a commitment comes with\nmany promises and pitfalls which shuld be discussed next week on a\nconference call which IEP will be setting up.", "clipped": true, "phrase": "Duke, Dynegy, Southern, AES and Sunrise (Williams was there but didn't", "path": "kean-s/all_documents/6296."}, "s215": {"from": "robert.johnston@enron.com", "to": "john.lavorato@enron.com, louise.kitchen@enron.com,   \tjeffrey.shankman@enron.com", "subject": "California Update 2/12", "text": "federal judge is expected to rule a summary judgment in favor of the utilities.  However, the judge will not allow the utilities to collect the injunction release they are requesting ($.01/kwh).  This will be left to an appellate court.  The decision not to allow the utilities to collect this cash could trigger an involuntary bankruptcy filing, by the smaller IPPs (as noted in our reports last week) or by larger out-of-state generators such as Duke, Reliant, and Dynegy (as noted in the press this morning).  This is expected next week or the week after.\n\n2.\tProspects for a Bailout\n\nBill AB 18X is effectively dead from lack of support.", "clipped": true, "phrase": "could trigger an involuntary bankruptcy filing, by the smaller IPPs (as noted in our reports last week) or by larger out-of-state generators such as Duke, Reliant, and Dynegy", "path": "kitchen-l/_americas/regulatory/238."}, "s218": {"from": "jeff.dasovich@enron.com", "to": "alan.comnes@enron.com, angela.schwarz@enron.com, beverly.aden@enron.com,   \tbill.votaw@enron.com, brenda.barreda@enron.com,   \tcarol.moffett@enron.com, cathy.corbin@enron.com,   \tchris.foster@enron.com, christina.liscano@enron.com,   \tchris", "subject": "Fwd: SoCal Edison unsure banks will extend deadline", "text": "SoCal Edison has about $800 million of debts due this week. On Thursday a \ngrace period to pay about $206 million of principal and interest on a \nfive-year note issue expires.\n\nPacific G&E and its parent are also in default of various credit lines.\n\nCreditors including independent power suppliers Dynegy Inc. (NYSE:DYN - \nnews), Mirant Corp. (NYSE:MIR - news) and Reliant Energy Inc. (NYSE:REI - \nnews), meanwhile, are threatening to send both utilities into bankruptcy if \nthey don't pay their debts.\n\nGov. Gray Davis and the state legislature are expected soon to create a plan \nthat could allow the utilities to pay down some of their debt. Craver said \n``we're not betting the farm on getting a proposal'' by Friday.\n\nShares of Edison International, which is based in Rosemead, Calif., closed \nTuesday on the New York Stock Exchange at $12.10, down 43 cents. PG&E shares \nclosed on the Big Board at $12.30, down 25 cents.", "clipped": true, "phrase": "Creditors including independent power suppliers Dynegy Inc. (NYSE:DYN - \nnews), Mirant Corp. (NYSE:MIR - news) and Reliant Energy Inc. (NYSE:REI - \nnews), meanwhile, are threatening to send both utilities into bankruptcy if \nthey don't pay their debts.", "path": "kean-s/all_documents/5882."}, "s232": {"from": "kristin.walsh@enron.com", "to": "john.lavorato@enron.com, louise.kitchen@enron.com", "subject": "California Update #2, 2/23/01", "text": "ss among small independent and alternative generators. The small companies have been the biggest losers so far -- their representative, Jan Smutny-Jones, was tossed off the Board of the California ISO, and the closing of the California PX deprives them of the main marketing channel for their power. The CEOs of large companies like Dynegy and Reliant are talking to Davis on a daily basis, but the small companies are out of the loop. They also lack the financial resources and diversity of income streams to resist problems for long. Large companies and the major bank creditors are also aware of the potential political and relationship risks across the US if they get cast in the role of villain in California. For the small companies, however, it is a matter of survival. Some legislators in Sacramento are operating under the assumption that it would take a creditor committee of", "clipped": true, "phrase": "The CEOs of large companies like Dynegy and Reliant are talking to Davis on a daily basis, but the small companies are out of the loop.", "path": "kitchen-l/_americas/regulatory/228."}, "s238": {"from": "jeff.dasovich@enron.com", "to": "karen.denne@enron.com", "subject": "Re: Davis Wants Generators to Accept Less Than Owed (Update2)", "text": "Davis Wants Generators to Accept Less Than Owed (Update2)\n2/28/1 18:56 (New York)\n\nDavis Wants Generators to Accept Less Than Owed (Update2)\n\n     (Adds names of California generators in fifth paragraph, and\nReliant comment in sixth.)\n\n     New York, Feb. 28 (Bloomberg) -- California Governor Gray\nDavis said he intends to ask power generators to accept partial\npayment for power sold to the state's cash-strapped utilities this\nsummer and winter, Wall Street analysts who attended a closed-door\nmeeting with the governor said.\n     ``It looks like the people he wants sharing the pain are the\ncompanies generating power sold to utilities,'' said Kevin Boone,\na bond analyst with Bear, Stearns & Co. who attended the meeting\nin New York. ``He wants to force them to take cents on the dollar.\nThat seems to be what his initial proposal will be.''", "clipped": true, "phrase": "California Governor Gray\nDavis said he intends to ask power generators to accept partial\npayment for power sold to the state's cash-strapped utilities this\nsummer and winter", "path": "kean-s/all_documents/5706."}, "s239": {"from": "jeff.dasovich@enron.com", "to": "karen.denne@enron.com", "subject": "Re: Davis Wants Generators to Accept Less Than Owed (Update2)", "text": "analyst with Gerard Klauer Mattison & Co. Davis spoke to about 35\nanalysts from Wall Street and energy-research firms in New York in\na meeting that was criticized by investors and analysts who were\nnot allowed to attend.\n\n                        No Names Mentioned\n\n    Davis didn't specify which companies came to him with partial-\npayment proposals, analysts said. Duke Energy Corp., Calpine\nCorp., Willams Cos., Dynegy Inc. and Reliant Energy Inc. are among\nthe biggest suppliers of electricity to California utilities.\n    ``I'm not aware of him talking to anyone at Duke about\nforgiveness,'' Duke Energy spokesman Tom Williams said.\n      Reliant spokesman Richard Wheatley said Davis's proposal\n``doesn't really come as a surprise'' because politicians in", "clipped": true, "phrase": "Davis didn't specify which companies came to him with partial-\npayment proposals, analysts said.", "path": "kean-s/all_documents/5706."}, "s319": {"from": "miyung.buster@enron.com", "to": "california.group@enron.com", "subject": "Energy Issues", "text": "statements of their executives.\n?????The companies maintain that California's problems stem from soaring \nelectricity demand, lagging power plant construction and a faulty \nderegulation plan adopted by the Legislature in 1996. \"You have a flawed \nstructure there,\" said Dynegy spokesman John Sousa.\n?????Sousa and executives of other power suppliers say their comments to the \ngeneral public and to Wall Street are not contradictory because unfettered \ncompetition--not the California model--would have created opportunities to \nboth make money and cut rates.\n?????Still, regulators, lawmakers and ratepayer groups note that only half \nthe promises made by the power dealers have been realized so far--their", "clipped": true, "phrase": "\"You have a flawed \nstructure there,\" said Dynegy spokesman John Sousa.", "path": "kean-s/all_documents/5333."}, "s316": {"from": "miyung.buster@enron.com", "to": "california.group@enron.com", "subject": "Energy Issues", "text": "predicting bigger profits for investors. \n\nBy ROBERT J. LOPEZ and RICH CONNELL, Times Staff Writers \n\n?????In the summer of 1999, a top official with a major player in \nCalifornia's power market testified during a congressional committee hearing \nin support of speeding up deregulation. Unleashing market forces, said the \nDynegy Inc. executive, would ensure \"maximum customer savings\" and \"low-cost \npower.\" \n?????That same month, the Houston-based firm made a far different pitch to \nWall Street: Deregulation and major swings in electricity prices would boost \nrevenue and stock value. \"We know how to take advantage of volatility spikes \nacross the gas and power market,\" Chief Executive Officer Charles Watson \ndeclared in a publication targeting large investors. \"The energy \nmarketplace,\" he predicted, \"will simply get more volatile.\"", "clipped": true, "phrase": "Unleashing market forces, said the \nDynegy Inc. executive, would ensure \"maximum customer savings\" and \"low-cost \npower.\"", "path": "kean-s/all_documents/5333."}, "s317": {"from": "miyung.buster@enron.com", "to": "california.group@enron.com", "subject": "Energy Issues", "text": "Dynegy Inc. executive, would ensure \"maximum customer savings\" and \"low-cost \npower.\" \n?????That same month, the Houston-based firm made a far different pitch to \nWall Street: Deregulation and major swings in electricity prices would boost \nrevenue and stock value. \"We know how to take advantage of volatility spikes \nacross the gas and power market,\" Chief Executive Officer Charles Watson \ndeclared in a publication targeting large investors. \"The energy \nmarketplace,\" he predicted, \"will simply get more volatile.\" \n?????Dynegy was not alone, a review of federal filings, company documents and \npublic records shows. In the years since California's pioneering deregulation \nplan was approved, other major out-of-state energy suppliers were sending \nsimilar, seemingly contradictory signals to the public and stock buyers.", "clipped": true, "phrase": "\"We know how to take advantage of volatility spikes \nacross the gas and power market,\" Chief Executive Officer Charles Watson \ndeclared in a publication targeting large investors.", "path": "kean-s/all_documents/5333."}, "s318": {"from": "miyung.buster@enron.com", "to": "california.group@enron.com", "subject": "Energy Issues", "text": "market was manipulated and how sellers took advantage of the market.\"\n?????The power traders strongly deny acting improperly or sending misleading \nsignals to the public.\n?????\"Hogwash,\" said Tom Williams, spokesman for North Carolina-based Duke \nEnergy. Spokesmen for Dynegy said there was nothing inconsistent in the \nstatements of their executives.\n?????The companies maintain that California's problems stem from soaring \nelectricity demand, lagging power plant construction and a faulty \nderegulation plan adopted by the Legislature in 1996. \"You have a flawed \nstructure there,\" said Dynegy spokesman John Sousa.\n?????Sousa and executives of other power suppliers say their comments to the \ngeneral public and to Wall Street are not contradictory because unfettered", "clipped": true, "phrase": "Spokesmen for Dynegy said there was nothing inconsistent in the \nstatements of their executives.", "path": "kean-s/all_documents/5333."}, "s358": {"from": "richard.sanders@enron.com", "to": "jrnelson@llgm.com", "subject": "Re: Power Exchange", "text": "liquidating agent of our choosing and close the bankruptcy case.\nCohen apparently has made no headway in efforts to reconstitute the PGE \ncommittee.  He's concerned that the second largest creditor does not have a \nseat at the table and questions whether the presence of such entities as \nEnron and Dynegy adequately represents the interests of the broad range of \nPower Exchange participants.  Wearing our CPX committee hat and the duty that \ncomes with that, are we comfortable leaving things as they are rather than \nencouraging our counsel to pursue the matter with some formal motion in the \nPGE case?  Unless I hear to the contrary, I'll assume that our position in \nthat regard has not changed and that if there were a committee vote on that \nparticular issue, we'd abstain.", "clipped": true, "phrase": "questions whether the presence of such entities as \nEnron and Dynegy adequately represents the interests of the broad range of \nPower Exchange participants", "path": "sanders-r/all_documents/1862."}, "s371": {"from": "jeff.dasovich@enron.com", "to": "rob.bradley@enron.com", "subject": "Re: Some Background on California Gas Price Spikes--The Other Side   of the Story", "text": "Richard Zeiger, a spokesman for Assembly Member Darrell Steinberg, chairman \nof the\nCalifornia Assembly Judiciary Committee, told Gas Daily that The Brattle \nGroup\u0001,s market\nstudy proved that the surge in gas prices at the California border was not \ncaused by normal\nmarket forces (GD 4/20). His remarks followed an oversight hearing during \nwhich Assembly\nmembers questioned Dynegy and El Paso officials about their involvement in \nthe California\nmarket.\n\nEl Paso presented a different version of events to the Assembly. In a report \npresented to\nlegislators, a research group hired by El Paso concluded that a convergence \nof factors, not a\nconspiracy, caused the price run-up.\n\nLukens Consulting Group, a Houston-based consultancy, was retained by El Paso \nto conduct\nwork on several fronts. In its study of the California market, Lukens \nconcluded that the", "clipped": true, "phrase": "His remarks followed an oversight hearing during \nwhich Assembly\nmembers questioned Dynegy and El Paso officials about their involvement in \nthe California\nmarket.", "path": "kean-s/all_documents/5117."}, "s376": {"from": "jeff.dasovich@enron.com", "to": "alan.comnes@enron.com, angela.schwarz@enron.com, beverly.aden@enron.com,   \tbill.votaw@enron.com, brenda.barreda@enron.com,   \tcarol.moffett@enron.com, cathy.corbin@enron.com,   \tchris.foster@enron.com, christina.liscano@enron.com,   \tcraig", "subject": "CA Legislative Committee Hearing on California Border Gas Prices", "text": "that Edison has long used on gas issues in California---gave last week to the \nlegislative committee investigating wholesale gas prices at the California \nBorder.  The day following this presentation (which was followed by a \npresentation by the California PUC's FERC lawyer), the committee called El \nPaso and Dynegy to respond to Brattle's and the CPUC FERC lawyer's \npresentations.  Also attached is the best synopsis of the hearing that I've \nseen in the press.\n\nBest,\nJeff\n******************************************************************************\n****************************************************\nCompeting evidence clouds Calif. investigation\n\nPrompted in part by the California Public Utilities Commission, the \nCalifornia Assembly\nhas been scrutinizing the role that interstate pipelines have played in the", "clipped": true, "phrase": "the committee called El \nPaso and Dynegy to respond to Brattle's and the CPUC FERC lawyer's \npresentations.", "path": "kean-s/all_documents/5097."}, "s374": {"from": "steven.kean@enron.com", "to": "joe.hartsoe@enron.com, shelley.corman@enron.com", "subject": "Some Background on California Gas Price Spikes--The Other Side of   the Story", "text": "Legislature is peddling.\n\nFinally, we were also fingered somewhat as culprits at the hearing (the \nCalifornia PUC FERC lawyer claimed that ENA and TW colluded to drive up basis \nwhen ENA controlled a portion of  the capacity), but the overriding goal of \nthe hearing was to go after EP and Dynegy.\n\nBest,\nJeff", "clipped": true, "phrase": "the overriding goal of \nthe hearing was to go after EP and Dynegy.", "path": "kean-s/all_documents/5105."}, "s379": {"from": "rosalee.fleming@enron.com", "to": "janel.guerrero@enron.com", "subject": "Re: ken lay tour", "text": "Sacramento, but she told me the Governor wanted to have the one meeting all \nat once and his schedule was very tight on Thursday, May 3.   I transferred \nher to Sherri and called Ken.  Ken wanted me to try to get more specific \ninformation, which she shared that it is with generators - Sempra, Williams, \nCalPine, Duke, Dynegy, and Reliant.  She also said since the Governor has \nworked with Ken, she thought he might prefer that he attend.  Ken said to let \nyou all know and be thinking whether we even want to do it.  He said one \nthought might be that he'd do that meeting and maybe Jeff could do the one in \nL.A. on May 2.\n\nTalk to you Monday.\n\nRosie\n\nJanel Guerrero\n04/27/2001 02:39 PM\nTo: Rosalee Fleming/Corp/Enron@ENRON, Maureen McVicker/NA/Enron@Enron, Jeff", "clipped": true, "phrase": "it is with generators - Sempra, Williams, \nCalPine, Duke, Dynegy, and Reliant.", "path": "kean-s/all_documents/5076."}, "s381": {"from": "steven.kean@enron.com", "to": "susan.landwehr@enron.com", "subject": "Re: ken lay tour", "text": "Sacramento, but she told me the Governor wanted to have the one meeting all \nat once and his schedule was very tight on Thursday, May 3.   I transferred \nher to Sherri and called Ken.  Ken wanted me to try to get more specific \ninformation, which she shared that it is with generators - Sempra, Williams, \nCalPine, Duke, Dynegy, and Reliant.  She also said since the Governor has \nworked with Ken, she thought he might prefer that he attend.  Ken said to let \nyou all know and be thinking whether we even want to do it.  He said one \nthought might be that he'd do that meeting and maybe Jeff could do the one in \nL.A. on May 2.\n\nTalk to you Monday.\n\nRosie\n\nJanel Guerrero\n04/27/2001 02:39 PM\nTo: Rosalee Fleming/Corp/Enron@ENRON, Maureen McVicker/NA/Enron@Enron, Jeff", "clipped": true, "phrase": "she shared that it is with generators - Sempra, Williams, \nCalPine, Duke, Dynegy, and Reliant.", "path": "kean-s/all_documents/5064."}, "s385": {"from": "miyung.buster@enron.com", "to": "ann.schmidt@enron.com, bryan.seyfried@enron.com, elizabeth.linnell@enron.com,   \tfiluntz@aol.com, james.steffes@enron.com, janet.butler@enron.com,   \tjeannie.mandelker@enron.com, jeff.dasovich@enron.com,   \tjoe.hartsoe@enron.com, john.nesla", "subject": "Energy Issues", "text": "The proposal would force generators to give the state any money collected \nabove a reasonable limit determined by the state Public Utilities Commission. \nThat money probably would be doled out in equal portions to state taxpayers, \npossibly through income tax returns, though details remain vague. \nThe bill is aimed principally at five out-of-state companies -- AES Corp., \nDuke Energy Corp., Dynegy Inc., Mirant and Reliant -- that bought California \npower plants under deregulation and saw profits increase last year at an \naverage of 508 percent, according to Democratic estimates. \n\"What this bill says is, 'You can't come in and rip us off,' \" said Senate \nPresident Pro Tem John Burton, D-San Francisco. \nCritics said the proposal would only discourage companies from building new \npower plants in California or producing power when the state needs it most.", "clipped": true, "phrase": "The bill is aimed principally at five out-of-state companies -- AES Corp., \nDuke Energy Corp., Dynegy Inc., Mirant and Reliant -- that bought California \npower plants under deregulation", "path": "kean-s/all_documents/5057."}, "s518": {"from": "kristin.walsh@enron.com", "to": "john.lavorato@enron.com, louise.kitchen@enron.com, david.delainey@enron.com", "subject": "California/FERC update 7/6/01", "text": "*   This bill was set for hearing on 2 July Assembly Revenue and Taxation, but the hearing was postponed until next week due to budget deliberations. \n*   This bill passed the Senate Floor on May 17, 2001 on a 23-12 vote. The \"nay\" votes were cast by Republicans. \n\n*   This bill is supported by consumer groups and opposed by several generators including Duke, Dynegy, Reliant, and Mirant. While this bill does not provide an exemption for long-term contract holders however, many of the long-term contracts have provisions exemption them from any such tax. \n\nAB 2X (Corbett) - Tax on Excess Gross Receipts", "clipped": true, "phrase": "This bill is supported by consumer groups and opposed by several generators including Duke, Dynegy, Reliant, and Mirant.", "path": "kitchen-l/_americas/regulatory/134."}, "s386": {"from": "miyung.buster@enron.com", "to": "ann.schmidt@enron.com, bryan.seyfried@enron.com, elizabeth.linnell@enron.com,   \tfiluntz@aol.com, james.steffes@enron.com, janet.butler@enron.com,   \tjeannie.mandelker@enron.com, jeff.dasovich@enron.com,   \tjoe.hartsoe@enron.com, john.nesla", "subject": "Energy Issues", "text": "representing El Paso on Feb. 21 at the Esquire Grill, a Sacramento \nrestaurant, according to the report. Assemblyman Joe Canciamilla \n(D-Pittsburg), who heads a subcommittee exploring natural gas issues, also \nate at the Esquire on El Paso's tab that night.\n?????The Houston-based power firm Dynegy Inc. spent $32,261 on lobbying \nthrough March 31, compared to $24,000 during all of last year. Another \nHouston energy company, electricity marketer Enron Corp., spent $66,994.\n?????Duke Energy is among the firms paying top dollar for Sacramento \nlobbyists as it seeks to build power plants in California to capitalize on \nthe state's energy shortage. The company reported spending more than $62,000 \non lobbying through March 31--more than it spent all of last year.\n?????\"We would be remiss in not ensuring that our voice is heard in", "clipped": true, "phrase": "The Houston-based power firm Dynegy Inc. spent $32,261 on lobbying \nthrough March 31, compared to $24,000 during all of last year.", "path": "kean-s/all_documents/5057."}, "s403": {"from": "henry.means@enron.com", "to": "", "subject": "Enron Mentions - 05/03/01", "text": "in 1999 -- but that it still operates -- because it doesn't think it will get \npaid. \nDynegy denied the charge. \"Dynegy did not instruct SDG&E to shut down \ngenerating units, nor did we suggest that we would not make power available \nto creditworthy buyers,\" Stephen W. Bergstrom, Dynegy's president and COO, \nwrote in a letter to SDG&E Chairman and CEO Stephen Baum. \nDynegy has tried to downplay its exposure to the state's power woes. It's \nrepeatedly pointed out to the press that its 50% stake in the four power \nplants in California only represents 1,400 of its total generating portfolio \nof 13,000 megawatts, or about 10.8%. Analysts, however, estimate Dynegy's \nexposure in California could give its earnings a haircut of as much as 15% \nthis year.", "clipped": true, "phrase": "to creditworthy buyers,\" Stephen W. Bergstrom, Dynegy's president and COO,", "path": "kean-s/all_documents/5039."}, "s483": {"from": "ann.schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "see ripe opportunities for embarrassing an ex-oilman president with strong \nlinks to Texas energy-producing companies that are profiting from today's \nsupply squeeze. \nDuring the 2000 presidential campaign, five of the major companies now \nsupplying power to California -- Duke Energy Corp., Dynegy Inc., Enron Corp., \nReliant Energy Inc., and Williams Cos. -- gave some $3.6 million to Mr. Bush \nand the GOP, more than triple the amount donated to Democrats. Three of those \ncompanies are based in Mr. Bush's home state of Texas, which only adds to the \npolitical tensions. \nThe Democratic offensive has the GOP worried. Price caps amount to \"terrible \npolicy, but good politics,\" frets Republican pollster Neil Newhouse. Mr. Bush \nnow faces \"a difficult job\" overcoming the Democratic arguments for caps, he", "clipped": true, "phrase": "Duke Energy Corp., Dynegy Inc., Enron Corp., \nReliant Energy Inc., and Williams Cos. -- gave some $3.6 million to Mr. Bush \nand the GOP", "path": "kean-s/all_documents/4703."}, "s490": {"from": "ann.schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "months to intervene in the California crisis, as well as the rationale for \ndismantling the old system of utility regulation.\n\"Blackout\" examines the importance of a new kind of megacorporation: giant, \nnational holding companies that trade electricity and gas much like any other \ncommodity. With names like Enron, Dynegy, Reliant, and El Paso -- and with \nclose ties to high-ranking Republican and Democratic officials -- these \nenergy traders have seen their profits explode in recent years even as \nconsumers endured power shortages and rate hikes. \nFRONTLINE and The New York Times interview key figures on both sides of the \nenergy debate, including Vice President Dick Cheney, California Governor Gray \nDavis, Enron CEO Jeff Skilling, and Curt Hebert, chairman of the Federal \nEnergy Regulatory Commission (FERC). State utility executives and citizens' \nadvocates, who charge that California's deregulation fell prey to market", "clipped": true, "phrase": "With names like Enron, Dynegy, Reliant, and El Paso -- and with \nclose ties to high-ranking Republican and Democratic officials -- these \nenergy traders have seen their profits explode in recent years", "path": "kean-s/all_documents/4695."}, "s512": {"from": "ray.niles@ssmb.com", "to": "", "subject": "Perspective on FERC Regulatory Action Client Conf Call Today, Jun\te   19th , 2:00pm EDT", "text": "Perspective on FERC Regulatory Action Client Conference Call\nTODAY, Tuesday, June 19th\n2:00pm EDT\n\nHost:\t\tRay Niles, Power/Natural Gas Analyst\nSpeaker:\tSteve Bergstrom, President & COO of Dynegy\n\nSteve Bergstrom, President and Chief Operating Officer of Dynegy, will join\nus at 2:00 p.m. today for a conference call discussion of the recent FERC\naction imposing price controls in the West.  The discussion will be followed\nby Q&A.\n\nQuestions to be explored include:\n\nWhat are the implications of the FERC action, for DYN and the industry as a\nwhole?\nWhat is the earnings impact?\nWhat are the risks of further re-regulation?\n\nand whatever else is on your minds\n\nWe attach two recent notes on the FERC action for your reference.\n\nCall In\t\t\t\tReplay\t\t\t\tReservation\n800-229-XXXX US\t\t\t800-642-XXXX US\t\t\t1073259", "clipped": true, "phrase": "Steve Bergstrom, President and Chief Operating Officer of Dynegy, will join\nus at 2:00 p.m. today for a conference call discussion of the recent FERC\naction imposing price controls in the West.", "path": "kitchen-l/_americas/portland/92."}, "s540": {"from": "miyung.buster@enron.com", "to": "joseph.alamo@enron.com, bhansen@lhom.com, rob.bradley@enron.com,   \ttom.briggs@enron.com, michael.brown@enron.com,   \tjanet.butler@enron.com, stella.chan@enron.com, alan.comnes@enron.com,   \tshelley.corman@enron.com, jeff.dasovich@enron.com", "subject": "Energy Issues", "text": "Department of Water Resources buy electricity on behalf of California's \nfinancially strapped utilities. \nThe economic statements revealed that several consultants held stock in \nenergy generators, including Calpine Corp. and Enron. One consultant reported \nthat he sold stock holdings in Edison International and Dynegy when he began \nwork for the state. \nAdministration officials initially said they would review the reports for any \nconflicts, considering whether the consultants traded with companies in which \nthey held stock. \nBut Goode's memo, dated Wednesday, said each of the consultants should divest \nby noon that day or \"the state will sever its contract with that person.\" The \nnotice was given to the 34 people who had disclosed their interests as", "clipped": true, "phrase": "that he sold stock holdings in Edison International and Dynegy when he began", "path": "kean-s/all_documents/8731."}, "s541": {"from": "sharonda.stephens@enron.com", "to": "", "subject": "Enron Mentions - 07/19/01", "text": "Resources on electricity purchases for California's financially strapped \nutilities. \nThe economic statements showed that several consultants held stock in energy \ngenerators, including Calpine Corp. and Enron. One consultant reported he \nsold stock holdings in Edison International and Dynegy when he began work for \nthe state.\n\nCopyright , 2000 Dow Jones & Company, Inc. All Rights Reserved. \n\nINDIA: AES threatens to abandon Indian venture.\nBy Himangshu Watts\n\n07/19/2001\nReuters English News Service \n(C) Reuters Limited 2001. \n\nNEW DELHI, July 19 (Reuters) - U.S. energy firm AES Corp may walk out of a \ntroubled distribution venture in eastern India due to a difficult regulatory \nenivironment, the firm's CEO said on Thursday.", "clipped": true, "phrase": "sold stock holdings in Edison International and Dynegy when he began work for", "path": "kean-s/all_documents/8721."}, "s565": {"from": "britt.whitman@enron.com", "to": "erin.willis@enron.com, david.delainey@enron.com, louise.kitchen@enron.com,   \tjohn.lavorato@enron.com", "subject": "California Update 9-20-2001", "text": "Contrary to rumor, it is not confirmed that Dynegy is considering joining Mirant and Reliant.  However, such a move by Dynegy \"would be logical\" and note that Dynegy funded, with Mirant and Reliant, recent polling research examining the public opinion effects of such a move. Dynegy is reportedly discussing the possibility. \n\nWe are attempting to determine SoCal's response to the PG&E filing, the Mirant-Reliant effort, and to try to pulse the likelihood and timing of a voluntary bankruptcy petition.", "clipped": true, "phrase": "Contrary to rumor, it is not confirmed that Dynegy is considering joining Mirant and Reliant.", "path": "kean-s/california/1960."}, "s566": {"from": "britt.whitman@enron.com", "to": "erin.willis@enron.com, david.delainey@enron.com, louise.kitchen@enron.com,   \tjohn.lavorato@enron.com", "subject": "California Update 9-20-2001", "text": "Contrary to rumor, it is not confirmed that Dynegy is considering joining Mirant and Reliant.  However, such a move by Dynegy \"would be logical\" and note that Dynegy funded, with Mirant and Reliant, recent polling research examining the public opinion effects of such a move. Dynegy is reportedly discussing the possibility. \n\nWe are attempting to determine SoCal's response to the PG&E filing, the Mirant-Reliant effort, and to try to pulse the likelihood and timing of a voluntary bankruptcy petition.", "clipped": true, "phrase": "note that Dynegy funded, with Mirant and Reliant, recent polling research examining the public opinion effects of such a move.", "path": "kean-s/california/1960."}, "s813": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions - 11/11/01", "text": "Some Firms Thriving, but Not Their Stocks \nSome companies are still going strong, although their stocks remain depressed. \nThat includes companies on the receiving end of potshots from California's politicians and utility regulators such as Duke Energy, Dynegy, Mirant, NRG Corp. and Williams, as well as San Jose-based Calpine Corp., which was repeatedly praised by Davis for playing a constructive role during the crisis. \nCalpine, for instance, said third-quarter profit and revenue doubled because the electricity producer increased sales by adding power plants. And yet its stock is down 55% from a 52-week high of $58 reached in March.", "clipped": true, "phrase": "That includes companies on the receiving end of potshots from California's politicians and utility regulators such as Duke Energy, Dynegy, Mirant, NRG Corp. and Williams", "path": "kitchen-l/_americas/sec_media/39."}, "s814": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions - 11/11/01", "text": "Home Edition\nC-1\nCopyright 2001 / The Times Mirror Company\n\nBranded as lawless cowboys by California politicians and consumer advocates, energy merchants rode skyrocketing electricity and natural gas prices to new stock highs during the worst of California's energy crisis. \nBut in recent months these energy companies--names such as Duke, Dynegy, Reliant, AES, Mirant, Williams and El Paso Corp.--have seen their fortunes dim as California's electricity meltdown has slowed the pace of deregulation nationwide, power prices have tumbled and the economy has faltered.\nEven power plant owners and energy trading operations that have maintained healthy earnings growth have watched their stock performance fade. \nAnd then there's the Enron Effect. \nEnron Corp., cast as the heavy by California politicians, has suffered the biggest fall of all and has helped to drag down stocks of other energy producers and traders.", "clipped": true, "phrase": "these energy companies--names such as Duke, Dynegy, Reliant, AES, Mirant, Williams and El Paso Corp.--have seen their fortunes dim as California's electricity meltdown has slowed the pace of deregulation nationwide", "path": "kitchen-l/_americas/sec_media/39."}, "s49": {"from": "chiba_chi@nikkei.com", "to": "skean@enron.com", "subject": "additional questions", "text": "Dear Steve,\n\nThank you for taking your time last month.\n\nI have additional questions. I am glad if you give me some suggestions.\n\nFirst, are there any risk of soaring electricity price and brownouts in\nregulated states like Florida or Northwest in the near future, for example\nthis summer?\n\nSecond, I found you mentioned about open access on existing transmission\nlines. Who regulates access now in which area?\n\nThird, in San Diego, why have other IPP built new plants and inter-regional\ntransmission lines even if they expected today's situation? Can I say that\nDynegy and Duke are the winners because they have bought plants from SDG&E?\nDo Enron have interest to build new plants in California?\n\nAgain, thank you for your cooperations.\n\nKen Chiba\nNIKKEI Chicago", "clipped": false, "phrase": "Can I say that\nDynegy and Duke are the winners because they have bought plants from SDG&amp;E?", "path": "kean-s/all_documents/914."}, "s178": {"from": "ann.schmidt@enron.com", "to": "mark.palmer@enron.com, karen.denne@enron.com, meredith.philipp@enron.com,   \tsteven.kean@enron.com, elizabeth.linnell@enron.com,   \teric.thode@enron.com, laura.schwartz@enron.com,   \tjeannie.mandelker@enron.com, mary.clark@enron.com,   \tdam", "subject": "Enron Metions", "text": "California. These include Reliant Energy, Dynegy, El Paso Energy Corp. and \nEnron Corp. \nReliant also owns power plants in Nevada that can sell power into the \nCalifornia market to capitalize on the higher prices now that the price cap \nhas been lifted. \nCompanies such as Reliant and Dynegy got into California buying plants that \nthe state's large investor-owned utilities sold to comply with the law to \nderegulate the state's $23 billion electricity market. There have not been \nany power plants built in California in 10 years. \nThe lack of additional generating capacity combined with growing demand is \nthe most often cited culprit for California's power woes. Add to that are \npoorly written laws that opened the state to competition. \nThe current cold snap has made a bad situation worse. \nA key source of backup power, water-generated hydropower from the Northwest,", "clipped": true, "phrase": "Companies such as Reliant and Dynegy got into California buying plants that \nthe state's large investor-owned utilities sold to comply with the law to \nderegulate the state's $23 billion electricity market.", "path": "kean-s/all_documents/2273."}, "s549": {"from": "c..hall@enron.com", "to": "b..sanders@enron.com", "subject": "CDWR unable to tie power costs to sales b/c it pools the power   together as a portfolio.", "text": "The department's statement to Campbell shows sales to 25 different companies, including the federal Bonneville Power Administration, the Los Angeles Department of Water and Power, and several private energy companies that bought power plants from California's utilities under the state's 1996 deregulation scheme. Those firms include Dynegy Corp., Reliant Energy, Mirant Corp. and Duke Energy.\n\nCopyright 2001, Los Angeles Times", "clipped": true, "phrase": "several private energy companies that bought power plants from California's utilities under the state's 1996 deregulation scheme. Those firms include Dynegy Corp., Reliant Energy, Mirant Corp. and Duke Energy.", "path": "sanders-r/iso__pricecaps/476."}, "s58": {"from": "cindy.derecskey@enron.com", "to": "steven.kean@enron.com, james.steffes@enron.com, richard.shapiro@enron.com", "subject": "fyi", "text": "> their generating plants in 1998, the utilities sold dozens of plants in\n> package deals of two and three to single buyers. They received premium\n> prices from buyers such as AES Corp., Duke Energy, Southern Co. Reliant\n> Energy, Dynegy and NRG. The premiums were paid for the market leverage\n> that multiple plants afforded the buyers.\n>\n>   Nobody in the utilities reckoned that they were handing\n> market leverage to potential commercial adversaries. Nobody in the\n> Legislature or the regulatory staffs reckoned that the central Power\n> Exchange could be held up by market leverage.\n>\n>   As outsiders often say about Californians: \"Maybe it's the\n> sunshine makes them slow.\"\n>\n>   (END)\n>\n>   05:23 EDT August 25, 2000", "clipped": true, "phrase": "Energy, Dynegy and NRG. The premiums were paid for the market leverage", "path": "kean-s/all_documents/1199."}, "s59": {"from": "steven.kean@enron.com", "to": "gavin.dillingham@enron.com", "subject": "fyi", "text": "Please send to the distribution list\n---------------------- Forwarded by Steven J Kean/NA/Enron on 08/28/2000 \n07:36 AM ---------------------------\nFrom: Cindy Derecskey on 08/25/2000 04:01 PM\nTo: Steven J Kean/NA/Enron@Enron, James D Steffes/HOU/EES@EES, Richard \nShapiro/HOU/EES@EES\ncc:  \n\nSubject: fyi\n\n----- Forwarded by Cindy Derecskey/Corp/Enron on 08/25/2000 04:00 PM -----\n\n\"Martin, Kim\" <martinki@fleishman.com> on 08/25/2000 03:51:17 PM\nTo: \"'mark.palmer@enron.com'\" <mark.palmer@enron.com>\ncc:  \n\nSubject: fyi\n\nDidn't know if you saw this column in today's LA Times, but he makes some\ngood arguments...\n\n>   JAMES FLANIGAN: Simple Steps May Ease Self-Inflicted\n> Electricity Woes\n>   Los Angeles Times -- August 25, 2000  [Return to Headlines]\n>\n>\n>      Publication Date: Friday August 25, 2000\n>      Page C-1\n>      Los Angeles Times (Home Edition)\n>      Copyright 2000 / The Times Mir", "clipped": true, "phrase": "the utilities sold dozens of plants in\n&gt; package deals of two and three to single buyers.", "path": "kean-s/all_documents/1207."}, "s70": {"from": "mary.hain@enron.com", "to": "richard.sanders@enron.com, christian.yoder@enron.com,   \trichard.shapiro@enron.com, james.steffes@enron.com,   \tsteve.c.hall@enron.com, tim.belden@enron.com,   \trobert.badeer@enron.com, jeff.richter@enron.com,   \ttim.heizenrader@enron.com, ", "subject": "THE WINNERS IN CALIFORNIA", "text": "> of megawatts of supply at top dollar.\n>\n>   No. 4: California's independent generators. The merchant power companies\n> in\n> California that did the best this summer are Reliant Energy Inc. (REI),\n> with\n> about 4,063 MW of California capacity; Southern Co. (SO), with about 3,000\n> MW;\n> NRG Energy (NRG), with 1,500 MW; and Dynegy Inc. (DYN), with 1,250 MW.\n>   Unlike Duke, AES and Calpine, these companies held on to most of their\n> power\n> and sold it in the day-ahead and real-time markets, where prices turned\n> out\n> to\n> be best.\n>   Reliant has already indicated that third quarter earnings available for\n> equity\n> will top last year's figure by about $110 million.\n>   All of these companies, however, saw their windfall trimmed by", "clipped": true, "phrase": "NRG Energy (NRG), with 1,500 MW; and Dynegy Inc. (DYN), with 1,250 MW.", "path": "sanders-r/all_documents/648."}, "s72": {"from": "miyung.buster@enron.com", "to": "filuntz@aol.com, liz@luntz.com, nicholas.o'day@enron.com,   \tmike.dahlke@enron.com, jennifer.rudolph@enron.com", "subject": "Long-Term Power Contracts Present Dilemma for Utilities Energy", "text": "slumped 24% from its recent high. \nPG&E Corp. slid $1.92 to $25.39 on Wednesday, extending its loss to 20% from \nits recent high, also on concerns about its borrowing needs. \nAfter the state's Public Utilities Commission authorized bilateral contracts, \npower merchants including Duke Energy Corp., Reliant Energy Inc. and Dynegy \nInc. came forward, offering to supply power to the utilities at fractions of \nthe going wholesale rate. \nThe power merchants have been touting energy as cheap as $50 per \nmegawatt-hour in contracts spread over one to five years. That would seem to \noffer big savings over the average Power Exchange electricity price so far \nthis month of $122 per megawatt-hour and the $166 average for \nAugust--dramatic spikes upward from the $40 average of August 1999. \nWhy, then, have no deals been cut?", "clipped": true, "phrase": "power merchants including Duke Energy Corp., Reliant Energy Inc. and Dynegy \nInc. came forward, offering to supply power to the utilities at fractions of \nthe going wholesale rate.", "path": "kean-s/all_documents/1490."}, "s73": {"from": "miyung.buster@enron.com", "to": "filuntz@aol.com, liz@luntz.com, nicholas.o'day@enron.com,   \tmike.dahlke@enron.com, jennifer.rudolph@enron.com", "subject": "Long-Term Power Contracts Present Dilemma for Utilities Energy", "text": "After the state's Public Utilities Commission authorized bilateral contracts, \npower merchants including Duke Energy Corp., Reliant Energy Inc. and Dynegy \nInc. came forward, offering to supply power to the utilities at fractions of \nthe going wholesale rate. \nThe power merchants have been touting energy as cheap as $50 per \nmegawatt-hour in contracts spread over one to five years. That would seem to \noffer big savings over the average Power Exchange electricity price so far \nthis month of $122 per megawatt-hour and the $166 average for \nAugust--dramatic spikes upward from the $40 average of August 1999. \nWhy, then, have no deals been cut? \nEdison and SDG&E say that the Public Utilities Commission's right of review \nwould create huge potential liabilities for their shareholders if wholesale", "clipped": true, "phrase": "The power merchants have been touting energy as cheap as $50 per \nmegawatt-hour in contracts spread over one to five years.", "path": "kean-s/all_documents/1490."}, "s75": {"from": "miyung.buster@enron.com", "to": "filuntz@aol.com, liz@luntz.com, nicholas.o'day@enron.com,   \tmike.dahlke@enron.com, jennifer.rudolph@enron.com", "subject": "Long-Term Power Contracts Present Dilemma for Utilities Energy", "text": "some costs, nor do they want pre-approval and be subjected to review.\" \nIndustry observers say that the PUC's right to review all contracts longer \nthan two years hamstrings the utilities' ability to hedge their risks in the \nvolatile state energy market. \n\"The utilities can judge the risks. What we need is the PUC to allow the \nutilities to enter into these deals without the second chance of looking at \nthem,\" said Greg Blue, senior director of Dynegy, a Houston-based power \nmerchant that owns several power plants in Southern California. \nRegulators and consumer advocates, meanwhile, are concerned that allowing the \nutilities to sign contracts for supply represents a merchant role they \nrelinquished under deregulation. \nMike Florio of the Utility Reform Network, a San Francisco-based consumer", "clipped": true, "phrase": "The utilities can judge the risks. What we need is the PUC to allow the \nutilities to enter into these deals without the second chance of looking at \nthem,", "path": "kean-s/all_documents/1490."}, "s78": {"from": "mary.hain@enron.com", "to": "richard.sanders@enron.com", "subject": "Fwd: Portland Consultant's Investigation Finds California Has   Capacity for Electricity Needs", "text": "reduced the amount of market information that is available to analysts. \nMainstream economists have questioned the accuracy of data from federal \nagencies, including the EPA.\n\nConventional explanations for the low energy production observed in San Diego \nCounty are scant.\n\nEncina's operators, a joint venture of energy giants Dynegy Inc. and NRG \nEnergy Inc. called Cabrillo Power, confirmed that the power plant had no \nabnormal maintenance problems. The San Diego Regional Air Quality Board said \nWednesday that the power plant was well within its state-mandated pollution \nlimits.\n\nBut David Lloyd, the corporate secretary of Cabrillo, denied that the Encina \nplant has been used to game the San Diego County power markets.\n\n\"That can't possibly be right,\" Lloyd said of McCullough's analysis. \"In \nNorth County, we were right on the ragged edge of being off (an emergency", "clipped": true, "phrase": "Encina's operators, a joint venture of energy giants Dynegy Inc. and NRG \nEnergy Inc. called Cabrillo Power, confirmed that the power plant had no \nabnormal maintenance problems.", "path": "sanders-r/all_documents/761."}, "s461": {"from": "jeff.dasovich@enron.com", "to": "alan.comnes@enron.com, angela.schwarz@enron.com, beverly.aden@enron.com,   \tbill.votaw@enron.com, brenda.barreda@enron.com,   \tcarol.moffett@enron.com, cathy.corbin@enron.com,   \tchris.foster@enron.com, christina.liscano@enron.com,   \tcraig", "subject": "CA Probe focuses on Dynegy, Mirant Plants", "text": "Public Utilities Commission. \n\nThe CPUC and the state Attorney General are investigating whether output was \nwithheld in order to maintain high prices over the past seven months at \nMirant's Pittsburg plant in northern California and the Encina power plant, \nwhich is equally owned by Dynegy and NRG, near San Diego. \n\nAll power plants in the state are being examined, but investigators have \nfound that the Encina and Pittsburg plants have reduced power during supply \nshortages, causing market prices to rise. \n\nBut so far, the commissioners said, investigators have found no activity that \nis clearly illegal. \n\n\"Is it unethical? Yes,\" one PUC commissioner said. \"But is it illegal? No,", "clipped": true, "phrase": "which is equally owned by Dynegy and NRG, near San Diego.", "path": "kean-s/all_documents/4813."}, "s79": {"from": "mary.hain@enron.com", "to": "richard.sanders@enron.com", "subject": "Fwd: Portland Consultant's Investigation Finds California Has   Capacity for Electricity Needs", "text": "Energy Inc. called Cabrillo Power, confirmed that the power plant had no \nabnormal maintenance problems. The San Diego Regional Air Quality Board said \nWednesday that the power plant was well within its state-mandated pollution \nlimits.\n\nBut David Lloyd, the corporate secretary of Cabrillo, denied that the Encina \nplant has been used to game the San Diego County power markets.\n\n\"That can't possibly be right,\" Lloyd said of McCullough's analysis. \"In \nNorth County, we were right on the ragged edge of being off (an emergency \nshutdown because of heavy output).\n\n\"Without knowing the specific details of time and which units were on or off, \nI can't comment,\" Lloyd said.\n\n\"We certainly don't want to be accused of anything wrongful,\" he said. \"We \ndon't have that much power in California, and for us to be shutting down in", "clipped": true, "phrase": "But David Lloyd, the corporate secretary of Cabrillo, denied that the Encina \nplant has been used to game the San Diego County power markets.", "path": "sanders-r/all_documents/761."}, "s81": {"from": "mary.hain@enron.com", "to": "richard.sanders@enron.com", "subject": "Fwd: Portland Consultant's Investigation Finds California Has   Capacity for Electricity Needs", "text": "\"That can't possibly be right,\" Lloyd said of McCullough's analysis. \"In \nNorth County, we were right on the ragged edge of being off (an emergency \nshutdown because of heavy output).\n\n\"Without knowing the specific details of time and which units were on or off, \nI can't comment,\" Lloyd said.\n\n\"We certainly don't want to be accused of anything wrongful,\" he said. \"We \ndon't have that much power in California, and for us to be shutting down in \nCalifornia to push up the price somewhere else doesn't make sense for us. We \nwant to run all we can when the prices are high.\"\n\nElectricity prices have soared to record levels since May, resulting in a \ndoubling and tripling of power bills this summer for the 1.2 million \ncustomers of San Diego Gas & Electric Co. and causing an estimated $5 billion", "clipped": true, "phrase": "We certainly don't want to be accused of anything wrongful", "path": "sanders-r/all_documents/761."}, "s80": {"from": "mary.hain@enron.com", "to": "richard.sanders@enron.com", "subject": "Fwd: Portland Consultant's Investigation Finds California Has   Capacity for Electricity Needs", "text": "conference of analysts, power traders and electricity industry regulators \nThursday that he has found evidence that generators and trading companies \nmanipulated the production of power from June through August to create a \nfalse shortage and push up prices.\n\nThe Encina power plant in Carlsbad provides a stark example: it ran at well \nbelow its full capacity for much of June, even though wholesale power prices \n---- and consumer electricity bills ---- shot to well above the generating \nplant's cost of production.\n\nThe actual production of electricity by the plants was determined by an \nanalysis of data from the Environmental Protection Agency, which monitors \nemissions.\n\n\"We are seeing a lot of under-generation,\" McCullough said. \"This is market \npower in action.\"\n\nMarket power is a term used by economists to describe the ability of market", "clipped": true, "phrase": "The Encina power plant in Carlsbad provides a stark example: it ran at well \nbelow its full capacity for much of June, even though wholesale power prices", "path": "sanders-r/all_documents/761."}, "s95": {"from": "eric.thode@enron.com", "to": "richard.sanders@enron.com", "subject": "San Diego Union Tribune", "text": "He acknowledged that Dynegy did \"pretty well\" in California because its power \nplants produced far more electricity this year than last. Bergstrom \nalso sought to correct an earlier report that Dynegy had quickly recouped the \ncost of power plants it recently acquired in the state. \n\nHe said that was true only of the plants it owns in Long Beach and El \nSegundo, which it bought in 1998. Bergstrom said the cost of Dynegy's half \ninterest \nin the former San Diego Gas & Electric Encina power plant in Carlsbad \u0001) \nacquired at the end of 1998 \u0001) had not been recovered. \n\nTypically, plant operators assume that it will take as long as 20 years to \nrecoup such costs. \n\nIn comments to financial analysts, Skilling, of Enron, suggested that power \ncompanies could help provide a solution to California's power problems.", "clipped": true, "phrase": "He said that was true only of the plants it owns in Long Beach and El \nSegundo, which it bought in 1998.", "path": "sanders-r/all_documents/776."}, "s98": {"from": "richard.sanders@enron.com", "to": "mark.haedicke@enron.com", "subject": "San Diego Union Tribune", "text": "----- Forwarded by Richard B Sanders/HOU/ECT on 10/18/2000 02:56 PM -----\n\n\tEric Thode@ENRON\n\t10/18/2000 02:54 PM\n\t\t \n\t\t To: Richard B Sanders/HOU/ECT@ECT\n\t\t cc: \n\t\t Subject: San Diego Union Tribune\n\n---------------------- Forwarded by Eric Thode/Corp/Enron on 10/18/2000 02:55 \nPM ---------------------------\n\nEric Thode\n10/18/2000 02:41 PM\nTo: Mark Palmer/Corp/Enron@ENRON, Karen Denne/Corp/Enron@ENRON, Steven J \nKean/NA/Enron@Enron, James D Steffes/NA/Enron@Enron\ncc:  \n\nSubject: San Diego Union Tribune\n\nHave you seen this?\n\nEric\n\nPower-company profits climb along with prices \n \n \n By Craig D. Rose \nUNION-TRIBUNE STAFF WRITER \nOctober 18, 2000 \n\nA power company executive yesterday boiled California's ongoing electricity \ncrisis down to the bottom line. \n\n\"Prices are rising, and I know that's hurting consumers \u0001) but it certainly \nhas been beneficial for Enron,\" said Jeffrey Skilling, \npre", "clipped": true, "phrase": "in the former San Diego Gas &amp; Electric Encina power plant in Carlsbad \u0001) \nacquired at the end of 1998 \u0001) had not been recovered.", "path": "sanders-r/all_documents/777."}, "s107": {"from": "issuealert@scientech.com", "to": "", "subject": "Market Manipulation or Fair Earnings in California? Enron, Dynegy   Report Huge Profits", "text": "last summer, McCollough accuses generators of voluntarily lowering their\nproduction to drive up prices\u0001*essentially creating a market power situation\nin which energy buyers are left with little choice but to pay exorbitant\nprices.\n\nThe report cites Dynegy as an example. Dynegy and NRG Energy Inc. are involved\nin a joint venture called Cabrillo Power, which oversees the operation\nof the Encina power plant in Carlsbad, Calif.  McCollough reports that\nthe Encina plant operated at well below its full capacity for much of June,\neven though wholesale prices were well above the generating plant's cost\nof production. A representative from Cabrillo Power denied that the Encina\nplant had been used to game the system in this way, and stated that, in\nfact, the plant was often in danger of being shut down last summer due\nto heavy output.", "clipped": true, "phrase": "The report cites Dynegy as an example. Dynegy and NRG Energy Inc. are involved\nin a joint venture called Cabrillo Power, which oversees the operation\nof the Encina power plant in Carlsbad, Calif.", "path": "kean-s/all_documents/1653."}, "s142": {"from": "robert.hemstock@enron.com", "to": "seabron.adamson@frontier-economics.com,   \tsabine.schnittger@frontier-economics.com", "subject": "Re: Outline memo for paper on rules changes in other markets", "text": "market is a worldwide market.  Firms will have difficulty committing their \nown capital (and borrowing from others) if they propose to put facilities in \njurisdisctions where rates are capped or pricing is based on something other \nthan the operation of the market.  Several generators, including Dynegy and \nCalpine, have said they will look for other homes for the turbines they have \nordered.  I have a Nov 10, 2000 Megawatt Daily article that quotes Enron and \nCalpine as saying that price caps in California drove both companies to \nwithdraw proposed plants.  \n\nI recognize there is presently no price cap proposal in Alberta but I think \nwe can draw the connection between interference through caps and interference \nthrough other forms of administrative intervention that are being considered", "clipped": true, "phrase": "Several generators, including Dynegy and \nCalpine, have said they will look for other homes for the turbines they have \nordered.", "path": "kean-s/all_documents/2009."}, "s145": {"from": "mark.palmer@enron.com", "to": "richard.shapiro@enron.com, steven.kean@enron.com, jeff.dasovich@enron.com,   \trichard.sanders@enron.com, paul.kaufman@enron.com", "subject": "RE: FW: ANNOUNCEMENT: Notice of Press Conference today", "text": "based public corporation doing business in the state of California as Dynegy\nMarketing and Trade. It is a generator and trader of wholesale electricity\nwhich is ultimately sold to California consumers, including plaintiff and\nthe class, and is a WSCC member.  Dynegy operates two electricity generating\npower plants in California which supply wholesale electricity to the\nCalifornia Power Exchange.\n 11.  Defendant NRG Energy, Inc. (hereinafter \"NRG\") is a Minneapolis,\nMinnesota based public corporation doing business in the state of California\nas NRG, a generator and trader of wholesale electricity which is ultimately\nsold to California consumers, including plaintiff and the class.  In\npartnership with defendant Dynegy, NRG operates eight electricity generating\nplants in California which supply wholesale electricity to the California", "clipped": true, "phrase": "Dynegy operates two electricity generating\npower plants in California which supply wholesale electricity to the\nCalifornia Power Exchange.", "path": "kean-s/all_documents/2072."}, "s146": {"from": "mark.palmer@enron.com", "to": "richard.shapiro@enron.com, steven.kean@enron.com, jeff.dasovich@enron.com,   \trichard.sanders@enron.com, paul.kaufman@enron.com", "subject": "RE: FW: ANNOUNCEMENT: Notice of Press Conference today", "text": "11.  Defendant NRG Energy, Inc. (hereinafter \"NRG\") is a Minneapolis,\nMinnesota based public corporation doing business in the state of California\nas NRG, a generator and trader of wholesale electricity which is ultimately\nsold to California consumers, including plaintiff and the class.  In\npartnership with defendant Dynegy, NRG operates eight electricity generating\nplants in California which supply wholesale electricity to the California\nPower Exchange.\n12. Defendant AES Corporation (hereinafter \"AES\") is an Arlington,\nVirginia based public corporation doing business in the state of California\nas AES Pacific Group, a generator and trader of wholesale electricity which\nis ultimately sold to California consumers, including plaintiffs and the", "clipped": true, "phrase": "partnership with defendant Dynegy, NRG operates eight electricity generating", "path": "kean-s/all_documents/2072."}, "s151": {"from": "richard.sanders@enron.com", "to": "gfergus@brobeck.com", "subject": "RE: FW: ANNOUNCEMENT: Notice of Press Conference today", "text": "based public corporation doing business in the state of California as Dynegy\nMarketing and Trade. It is a generator and trader of wholesale electricity\nwhich is ultimately sold to California consumers, including plaintiff and\nthe class, and is a WSCC member.  Dynegy operates two electricity generating\npower plants in California which supply wholesale electricity to the\nCalifornia Power Exchange.\n 11.  Defendant NRG Energy, Inc. (hereinafter \"NRG\") is a Minneapolis,\nMinnesota based public corporation doing business in the state of California\nas NRG, a generator and trader of wholesale electricity which is ultimately\nsold to California consumers, including plaintiff and the class.  In\npartnership with defendant Dynegy, NRG operates eight electricity generating\nplants in California which supply wholesale electricity to the California", "clipped": true, "phrase": "Dynegy operates two electricity generating\npower plants in California which supply wholesale electricity to the\nCalifornia Power Exchange.", "path": "sanders-r/all_documents/1041."}, "s152": {"from": "richard.sanders@enron.com", "to": "gfergus@brobeck.com", "subject": "RE: FW: ANNOUNCEMENT: Notice of Press Conference today", "text": "11.  Defendant NRG Energy, Inc. (hereinafter \"NRG\") is a Minneapolis,\nMinnesota based public corporation doing business in the state of California\nas NRG, a generator and trader of wholesale electricity which is ultimately\nsold to California consumers, including plaintiff and the class.  In\npartnership with defendant Dynegy, NRG operates eight electricity generating\nplants in California which supply wholesale electricity to the California\nPower Exchange.\n12. Defendant AES Corporation (hereinafter \"AES\") is an Arlington,\nVirginia based public corporation doing business in the state of California\nas AES Pacific Group, a generator and trader of wholesale electricity which\nis ultimately sold to California consumers, including plaintiffs and the", "clipped": true, "phrase": "partnership with defendant Dynegy, NRG operates eight electricity generating", "path": "sanders-r/all_documents/1041."}, "s177": {"from": "ann.schmidt@enron.com", "to": "mark.palmer@enron.com, karen.denne@enron.com, meredith.philipp@enron.com,   \tsteven.kean@enron.com, elizabeth.linnell@enron.com,   \teric.thode@enron.com, laura.schwartz@enron.com,   \tjeannie.mandelker@enron.com, mary.clark@enron.com,   \tdam", "subject": "Enron Metions", "text": "California electricity prices have soared this week after the state removed \nprice caps on wholesale energy transactions to attract power into the market. \nShares of companies with power plants that sell to the California wholesale \nmarket have risen in response. \nThe lifting of the price caps means more power sales for four Houston \ncompanies that own about 25 percent of the unregulated power generated in \nCalifornia. These include Reliant Energy, Dynegy, El Paso Energy Corp. and \nEnron Corp. \nReliant also owns power plants in Nevada that can sell power into the \nCalifornia market to capitalize on the higher prices now that the price cap \nhas been lifted. \nCompanies such as Reliant and Dynegy got into California buying plants that \nthe state's large investor-owned utilities sold to comply with the law to \nderegulate the state's $23 billion electricity market. There have not been \nany power plants built in California in 10 years.", "clipped": true, "phrase": "The lifting of the price caps means more power sales for four Houston \ncompanies that own about 25 percent of the unregulated power generated in \nCalifornia. These include Reliant Energy, Dynegy, El Paso Energy Corp. and \nEnron Corp.", "path": "kean-s/all_documents/2273."}, "s179": {"from": "richard.shapiro@enron.com", "to": "steven.kean@enron.com", "subject": "Follow-up to Governor's Press Conference", "text": "The following is the list of suppliers referenced by Governor Davis in today\n's Washington, DC press conference.  For those of you that are IEP members,\nit would be helpful if you forwarded to IEP any comments you have made or\nplan on making to the press.\n\nThese suppliers have advised the ISO that they are unwilling to sell power\ninto the California markets.\n\nDynegy Power Marketing\nTrans Alta\nEugene Water and Electric\nSouthern Energy Trading\nPowerEx (BC Hydro)\nPublic Service Colorado\nEnron Power Marketing\nPortland General\nAvista (Washington Water Power)\nIdaho Power Company\nPPL Montana\nSeattle City Light\nPuget Sound Energy\n\nJulee Malinowski-Ball\nEdson + Modisette\njmball@ns.net", "clipped": true, "phrase": "These suppliers have advised the ISO that they are unwilling to sell power\ninto the California markets.\n\nDynegy Power Marketing", "path": "kean-s/all_documents/2308."}, "s185": {"from": "mark.koenig@enron.com", "to": "steven.kean@enron.com", "subject": "SQUEEZING BLOOD FROM A STONE: SEEKING CLARITY IN THE CALIF. CR...   (Part 1 of 2)", "text": "companies.\n\nExposures of Generators to California Power Markets (Megawatts)\n\n Company       Rating/Px     Total         California    % of Total\n AES#          1-H $52       29,798         4,100        13.8%\n CPN#          1-H $42         5,912        1,355        22.9%\n DYN#          1-H $51         8,804        1,400        15.9%\n NRG#          1-H $28       13,500         1,586        11.7%\n SOE#          1-H $28       14,622         3,185        21.8%\n ENE#          1-H $80         3,000             60        2.0%\n DUK*#         2-M $83         9,285        3,615        38.9%*\n REI*$#        3-M $43       12,869         3,767        29.3%*\n*DUK and REI also have extensive regulated utility operations, so there", "clipped": true, "phrase": "DYN#          1-H $51         8,804        1,400        15.9%", "path": "kean-s/all_documents/6407."}, "s187": {"from": "mark.koenig@enron.com", "to": "steven.kean@enron.com", "subject": "SQUEEZING BLOOD FROM A STONE: SEEKING CLARITY IN THE CALIF. CR...   (Part 1 of 2)", "text": "market-oriented solution will favor these companies, but\n                     anticipate near-term uncertainty as the California\n                     situation plays itself out.  Companies with most to least\n                     California exposure are: CPN, SOE, DYN, NRG, DUK, REI,\n                     AES, ENE.\nTWO MESSAGES TO INVESTORS\n\n(1) Worry about the California electric utilities:  PCG and EIX.  Material\nbankruptcy risk exists for these companies.  Although we do not think it is \nthe\nmost likely outcome, we think the risk of a bankruptcy has been heightened by\nthe small rate increase proposed by the California Public Utilities \nCommission.", "clipped": true, "phrase": "California exposure are: CPN, SOE, DYN, NRG, DUK, REI,", "path": "kean-s/all_documents/6407."}, "s194": {"from": "mark.koenig@enron.com", "to": "steven.kean@enron.com", "subject": "UPDATE OF CALIFORNIA CRISIS AND BRIEF NOTES ON DUKE ENERGY   CONFERENCE CALL", "text": "competitive markets.\n8)   Under a \"new FERC\", we think there is a low risk of retroactive\nrepercussions on generators to \"give back\" past profits on electricity sold in\nCalifornia last summer, and also that a windfall profits tax on\ngenerators/marketers is unlikely.\n9)   Companies such as DUK, DYN and ENE all appear to have less than $0.05 per\nshare of annual earnings exposure to California generation/marketing sales net\nof risk mitigation.  However, recent conversations with Reliant Energy have\nrevealed that it has not hedged its receivables risk with the utilities in\nCalifornia.  Typical monthly receivable balances range from $5-$270 million or\nup to $0.60 of earnings exposure.  REI is betting on the risk of bankruptcy of", "clipped": true, "phrase": "Companies such as DUK, DYN and ENE all appear to have less than $0.05 per", "path": "kean-s/all_documents/6319."}, "s200": {"from": "ann.schmidt@enron.com", "to": "mark.palmer@enron.com, meredith.philipp@enron.com, steven.kean@enron.com,   \telizabeth.linnell@enron.com, eric.thode@enron.com,   \tlaura.schwartz@enron.com, jeannie.mandelker@enron.com,   \tmary.clark@enron.com, damon.harvey@enron.com, keith", "subject": "Enron Mentions", "text": "order was extended Jan. 11 and Wednesday, and is scheduled to\nexpire next Tuesday. Richardson, who leaves office tomorrow with\nPresident Bill Clinton, signed a similar order for natural-gas\nsuppliers that Davis had requested.\n\n                            The Outcome\n\n     Very much in doubt. Duke Energy, Dynegy, Reliant Energy and\nSouthern Energy were prepared to force the two utilities to file\nfor bankruptcy before the emergency spending bill was set into\nmotion, Davis said.\n\n--David Wilson in the Princeton newsroom (609) 279-XXXX or\ndwilson@bloomberg.net/jmg\n\nCalifornia Averts Blackouts; Regulators Take Action (Update3)\n1/19/1 16:29 (New York)\n\nCalifornia Averts Blackouts; Regulators Take Action (Update3)\n\n     (Adds details on gasoline supplies starting in fourth\nparagraph. For a special report on the California energy crisis,\nsee {EXTRA <GO>})\n\n     Sacramento, California, Jan. 19 (Bloomberg) -- California", "clipped": true, "phrase": "Duke Energy, Dynegy, Reliant Energy and\nSouthern Energy were prepared to force the two utilities to file\nfor bankruptcy before the emergency spending bill was set into\nmotion, Davis said.", "path": "kean-s/all_documents/6242."}, "s207": {"from": "jeff.dasovich@enron.com", "to": "alan.comnes@enron.com, angela.schwarz@enron.com, beverly.aden@enron.com,   \tbill.votaw@enron.com, brenda.barreda@enron.com,   \tcarol.moffett@enron.com, cathy.corbin@enron.com,   \tchris.foster@enron.com, christina.liscano@enron.com,   \tchris", "subject": "Judge Orders Supplier To Continue Selling Power To Calif", "text": "would continue sales as well. \n\nU.S. District Judge Frank Damrell, citing the possibility of \"obvious \nirreparable harm to the public,\" said Tuesday his temporary order requires \nReliant Energy Services Inc. to continue sales at least until a further \nhearing on Wednesday.\n\nWholesalers AES Pacific Inc. and Dynegy Power Corp., not covered under the \ntemporary injunction, said they would continue sales until that hearing as \nwell. \n\nThe suppliers provide enough electricity to serve 4 million homes. \nElectricity grid officials said losing that source could have produced \nrolling blackouts like the ones that hit the state twice last month. \n\nThe Independent System Operator, which maintains the state's power grid, \nsought the restraining order on an emergency basis as the federal directive \nneared its midnight PST Tuesday expiration.", "clipped": true, "phrase": "Wholesalers AES Pacific Inc. and Dynegy Power Corp., not covered under the \ntemporary injunction, said they would continue sales until that hearing as \nwell.", "path": "kean-s/all_documents/6012."}, "s237": {"from": "jeff.dasovich@enron.com", "to": "karen.denne@enron.com", "subject": "Re: Davis Wants Generators to Accept Less Than Owed (Update2)", "text": "a meeting that was criticized by investors and analysts who were\nnot allowed to attend.\n\n                        No Names Mentioned\n\n    Davis didn't specify which companies came to him with partial-\npayment proposals, analysts said. Duke Energy Corp., Calpine\nCorp., Willams Cos., Dynegy Inc. and Reliant Energy Inc. are among\nthe biggest suppliers of electricity to California utilities.\n    ``I'm not aware of him talking to anyone at Duke about\nforgiveness,'' Duke Energy spokesman Tom Williams said.\n      Reliant spokesman Richard Wheatley said Davis's proposal\n``doesn't really come as a surprise'' because politicians in\nSacramento, the capital of California, have been discussing the\nidea for weeks. Reliant has opposed anything other than full\npayment of its debts.\n    ``Williams fully expects to be paid the money that is owed", "clipped": true, "phrase": "Duke Energy Corp., Calpine\nCorp., Willams Cos., Dynegy Inc. and Reliant Energy Inc. are among\nthe biggest suppliers of electricity to California utilities.", "path": "kean-s/all_documents/5706."}, "s248": {"from": "susan.mara@enron.com", "to": "alan.comnes@enron.com, angela.schwarz@enron.com, beverly.aden@enron.com,   \tbill.votaw@enron.com, brenda.barreda@enron.com,   \tcarol.moffett@enron.com, cathy.corbin@enron.com,   \tchris.foster@enron.com, christina.liscano@enron.com,   \tchris", "subject": "Power producers accused of gouging -- Rumored ISO Report Comes out", "text": "of the documents to FERC, Sheffrin said.\n\nDuring December and January, power producers had to provide FERC with monthly \nreports if their charges to the state exceeded thresholds. \n\nThe ISO did not identify the power generators it accuses of improper pricing. \nNot including the utilities themselves, the major power suppliers in \nCalifornia are Reliant Energy Inc. of Houston, Duke Energy of Charlotte, \nN.C., Mirant Inc. of Atlanta, Dynegy Inc. of Houston and Calpine Corp. of San \nJose.\n\nAlso on Wednesday, Bloomberg News reported that Gov. Gray Davis plans to ask \npower generators to accept partial payment for power sold to the state's \ncash-strapped utilities.\n\nEmail this to a friend.  \t[IMAGE]\tYellow pages\n\t\t\n\t\t?HOME PAGE\n\t\t[IMAGE]\n\t\t?TODAY'S NEWS\n\t\t?\u000f\u0007Front Page\n\t\t?\u000f\u0007California\n\t\t?\u000f\u0007Nation\n\t\t?\u000f\u0007World\n\t\t[IMAGE]\n\t\t?ADVERTISING\n\t\t[IMAGE]\n\t\t?ARCHIVES\n\t\t[IMAGE]\n\t\t?AUTOMOTIVE\n\t\t[IMAGE]\n\t\t?BUSINESS & FINANCE\n\t\t[IMAGE]", "clipped": true, "phrase": "Not including the utilities themselves, the major power suppliers in \nCalifornia are Reliant Energy Inc. of Houston, Duke Energy of Charlotte, \nN.C., Mirant Inc. of Atlanta, Dynegy Inc. of Houston and Calpine Corp. of San \nJose.", "path": "kean-s/all_documents/5702."}, "s235": {"from": "steven.kean@enron.com", "to": "bernadette.hawkins@enron.com", "subject": "Energy Issues", "text": "The CEC put the capacity of generators in the state at about 54,000, but it \nused original capacity figures. Most of California's big power plants are \nmore than 30 years old. They can't produce as much power as they once did, so \nsubtract about 7,000 MW from their rated capacity. \nAbout 15,000 MW of the state's capacity is now controlled by merchant energy \ncompanies Calpine (CPN), Duke Energy (DUK), Dynegy (DYN), Mirant (MIR), \nReliant Energy (REI) and Williams Cos. (WMB). They say they already have sold \nmuch of the power they will generate this summer to out-of-state western \nutilities. But the CEC ignored that. \nHydroelectric generation in the western states is expected to be just 60% of \nnormal this spring and summer. Western utilities have been buying up supplies \nsince last fall. California's PG&E (PCG) and Edison International (EIX) \ncouldn't do that, of course, because they're nearly bankrupt.", "clipped": true, "phrase": "About 15,000 MW of the state's capacity is now controlled by merchant energy \ncompanies Calpine (CPN), Duke Energy (DUK), Dynegy (DYN), Mirant (MIR), \nReliant Energy (REI) and Williams Cos. (WMB).", "path": "kean-s/all_documents/5729."}, "s236": {"from": "steven.kean@enron.com", "to": "bernadette.hawkins@enron.com", "subject": "Energy Issues", "text": "subtract about 7,000 MW from their rated capacity. \nAbout 15,000 MW of the state's capacity is now controlled by merchant energy \ncompanies Calpine (CPN), Duke Energy (DUK), Dynegy (DYN), Mirant (MIR), \nReliant Energy (REI) and Williams Cos. (WMB). They say they already have sold \nmuch of the power they will generate this summer to out-of-state western \nutilities. But the CEC ignored that. \nHydroelectric generation in the western states is expected to be just 60% of \nnormal this spring and summer. Western utilities have been buying up supplies \nsince last fall. California's PG&E (PCG) and Edison International (EIX) \ncouldn't do that, of course, because they're nearly bankrupt. \nNobody knows exactly how much power has already been sold out of state. A", "clipped": true, "phrase": "They say they already have sold \nmuch of the power they will generate this summer to out-of-state western \nutilities.", "path": "kean-s/all_documents/5729."}, "s250": {"from": "karen.denne@enron.com", "to": "jeff.dasovich@enron.com, richard.shapiro@enron.com, james.steffes@enron.com,   \tsteven.kean@enron.com, mark.palmer@enron.com", "subject": "Merrill Lynch Report: Governor Davis Comes to Wall Street", "text": "balance and lower rates compared with SCE.\n\nSome Generators Agree to Haircut\n\nThe Governor indicated that a couple of unnamed generators have voluntarily\nagreed to accept less than 100 cents on the dollar for their past due\nreceivables. When pressed about which parties they've had constructive\ndiscussions with, he identified Williams (WMB: Baa2/BBB-), Enron (ENE:\nBaa1/BBB+) and Dynegy (DYN: Baa2/BBB+).  We note that most of the generators\nand marketers with exposure to California have established reserves against\npossible losses.  Importantly, the Governor said that he hoped that the banks\nand bondholders would not be asked to take a haircut.\n\nProspects for Legislation and Possibility of Ballot Initiative\n\nThe Governor said he is quite confident that he can reach an agreement with \nthe", "clipped": true, "phrase": "When pressed about which parties they've had constructive\ndiscussions with, he identified Williams (WMB: Baa2/BBB-), Enron (ENE:\nBaa1/BBB+) and Dynegy (DYN: Baa2/BBB+).", "path": "kean-s/all_documents/5704."}, "s252": {"from": "miyung.buster@enron.com", "to": "ann.schmidt@enron.com, bryan.seyfried@enron.com, dcasse@whwg.com,   \tdg27@pacbell.net, elizabeth.linnell@enron.com, filuntz@aol.com,   \tjames.steffes@enron.com, janet.butler@enron.com,   \tjeannie.mandelker@enron.com, jeff.dasovich@enron.com", "subject": "Energy Issues", "text": "Some Generators Agree to Haircut\n\nThe Governor indicated that a couple of unnamed generators have voluntarily\nagreed to accept less than 100 cents on the dollar for their past due\nreceivables. When pressed about which parties they've had constructive\ndiscussions with, he identified Williams (WMB: Baa2/BBB-), Enron (ENE:\nBaa1/BBB+) and Dynegy (DYN: Baa2/BBB+).  We note that most of the generators\nand marketers with exposure to California have established reserves against\npossible losses.  Importantly, the Governor said that he hoped that the banks\nand bondholders would not be asked to take a haircut.\n\nProspects for Legislation and Possibility of Ballot Initiative\n\nThe Governor said he is quite confident that he can reach an agreement with \nthe", "clipped": true, "phrase": "he identified Williams (WMB: Baa2/BBB-), Enron (ENE:\nBaa1/BBB+) and Dynegy (DYN: Baa2/BBB+)", "path": "kean-s/all_documents/5703."}, "s262": {"from": "james.steffes@enron.com", "to": "david.delainey@enron.com, john.lavorato@enron.com, louise.kitchen@enron.com,   \ttim.belden@enron.com, kathryn.corbally@enron.com", "subject": "Davis Claims ENE Willing to Take Haircut", "text": "Some Generators Agree to Haircut\n\nThe Governor indicated that a couple of unnamed generators have voluntarily\nagreed to accept less than 100 cents on the dollar for their past due\nreceivables. When pressed about which parties they've had constructive\ndiscussions with, he identified Williams (WMB: Baa2/BBB-), Enron (ENE:\nBaa1/BBB+) and Dynegy (DYN: Baa2/BBB+).  We note that most of the generators\nand marketers with exposure to California have established reserves against\npossible losses.  Importantly, the Governor said that he hoped that the banks\nand bondholders would not be asked to take a haircut.\n\nProspects for Legislation and Possibility of Ballot Initiative\n\nThe Governor said he is quite confident that he can reach an agreement with the", "clipped": true, "phrase": "he identified Williams (WMB: Baa2/BBB-), Enron (ENE:\nBaa1/BBB+) and Dynegy (DYN: Baa2/BBB+)", "path": "kitchen-l/_americas/regulatory/223."}, "s263": {"from": "steven.kean@enron.com", "to": "joe.hartsoe@enron.com", "subject": "Energy Issues", "text": "couple of unsolicited offers\" from generators willing to forgive debts as \npart of a deal. Maviglio declined to name the companies, but said, \"It is all \npart of the ongoing negotiations.\" \nThe game of cat and mouse comes as Davis and lawmakers try to gain leverage \nover five companies -- AES Corp., Duke Energy Corp., Dynegy Inc., Mirant and \nReliant -- that bought power plants from the California-based utilities in \nthe early days of the state's foray into deregulation. \nBecause of that divesture, much of California's power is controlled by \nout-of-state generators and their trading subsidiaries, or by independent \nbrokers such as Enron, the country's biggest electricity marketer. \nIn recent months, at least five class-action lawsuits have accused these \ncompanies of manipulating and inflating electricity prices, either by", "clipped": true, "phrase": "five companies -- AES Corp., Duke Energy Corp., Dynegy Inc., Mirant and \nReliant -- that bought power plants from the California-based utilities", "path": "kean-s/all_documents/5685."}, "s266": {"from": "alan.comnes@enron.com", "to": "susan.mara@enron.com", "subject": "ISO Motion for Issuance of Refund (ISO Report on Unjust Prices)", "text": "All:\n\nA couple of interested points from the CAISO report, in addition to the good \npoints raised by Sue Mara:\n\nDuring December and January, California relied on imports as much as it \nrelied upon California non-utility-owned generation (p. 18).  Assuming a 70% \ncapacity factor, the ISO said that in-state nonutility gen (i.e., Duke, \nReliant, AES, Dynegy) is about 2,000 MW and the imports were about the same \nover the 55 day period analyzed.\n\nThere is no mention anywhere in the report regarding the level of scarcity in \nthe state--nothing on reserve margins or outages.  Thus, there are huge holes \nin the analysis w.r.t. the claim that prices were unjust and unreasonable.", "clipped": false, "phrase": "the ISO said that in-state nonutility gen (i.e., Duke, \nReliant, AES, Dynegy) is about 2,000 MW", "path": "kean-s/all_documents/5646."}, "s267": {"from": "jeff.dasovich@enron.com", "to": "karen.denne@enron.com, susan.mara@enron.com, sandra.mccubbin@enron.com,   \tmpalmer@enron.com, christopher.calger@enron.com,   \ttim.belden@enron.com, robert.badeer@enron.com, mary.hain@enron.com,   \tjoe.hartsoe@enron.com, linda.robertson@enr", "subject": "Davis announces first round of long-term power contracts", "text": "market, where desperation to keep the lights on leads to inflated prices. \nOn Friday, the state released another $500 million to continue making such \npurchases on behalf of the state's two big cash-strapped utilities, bringing \nits spending so far to some $3.2 billion since early January. \nThe agreements announced Monday include more than 20 power suppliers, \nincluding electricity giants Duke Energy, Calpine, Dynegy, Enron and Reliant. \nDavis declined to release details on individual contracts. \nDuke Energy said it has reached a $4 billion, nine-year agreement to sell \nelectricity to the state. \nThe memorandum of understanding calls for Duke to provide 550 megawatts \nstarting next Jan. 1. That's enough power for roughly 550,000 households. \nThat amount would rise to 800 megawatts Jan. 1, 2003, enough electricity for", "clipped": true, "phrase": "The agreements announced Monday include more than 20 power suppliers, \nincluding electricity giants Duke Energy, Calpine, Dynegy, Enron and Reliant.", "path": "kean-s/all_documents/5648."}, "s268": {"from": "jeff.dasovich@enron.com", "to": "alan.comnes@enron.com, angela.schwarz@enron.com, beverly.aden@enron.com,   \tbill.votaw@enron.com, brenda.barreda@enron.com,   \tcarol.moffett@enron.com, cathy.corbin@enron.com,   \tchris.foster@enron.com, christina.liscano@enron.com,   \tcraig", "subject": "Dynegy and NRG Energy Announce Long-term Agreement With California", "text": "LENGTH: 1190 words\n \nHEADLINE: Dynegy and NRG Energy Announce Long-term Agreement With California\n Department of Water Resources\n \nDATELINE: HOUSTON & MINNEAPOLIS, March 6, 2001\n \nBODY:\n \n \n   Dynegy Inc. (NYSE:DYN) and NRG Energy, Inc. (NYSE:NRG) today announced\nthat their affiliates, El Segundo Power LLC, Long Beach Generation LLC and\nCabrillo I LLC, have entered into an agreement with the California\nDepartment of Water Resources (DWR) to provide the state with up to 2,300\nmegawatts (MW) of energy through 2004.\n \n   Under the terms of the agreement which begins today, Dynegy and NRG's\n affiliates will provide 1,000 MW to DWR for the balance of 2001, and\nbeginning January 1, 2002 will provide up to 2,300 MW. Financial and other\nterms of the transaction were not disclosed.\n \n   \"Since last summer, Dynegy and NRG have continued to produce all the\npower the state has requested. We have worked diligently with the DWR to", "clipped": true, "phrase": "El Segundo Power LLC, Long Beach Generation LLC and\nCabrillo I LLC, have entered into an agreement with the California\nDepartment of Water Resources (DWR) to provide the state with up to 2,300\nmegawatts (MW) of energy through 2004.", "path": "kean-s/all_documents/5639."}, "s269": {"from": "jeff.dasovich@enron.com", "to": "alan.comnes@enron.com, angela.schwarz@enron.com, beverly.aden@enron.com,   \tbill.votaw@enron.com, brenda.barreda@enron.com,   \tcarol.moffett@enron.com, cathy.corbin@enron.com,   \tchris.foster@enron.com, christina.liscano@enron.com,   \tcraig", "subject": "Dynegy and NRG Energy Announce Long-term Agreement With California", "text": "that their affiliates, El Segundo Power LLC, Long Beach Generation LLC and\nCabrillo I LLC, have entered into an agreement with the California\nDepartment of Water Resources (DWR) to provide the state with up to 2,300\nmegawatts (MW) of energy through 2004.\n \n   Under the terms of the agreement which begins today, Dynegy and NRG's\n affiliates will provide 1,000 MW to DWR for the balance of 2001, and\nbeginning January 1, 2002 will provide up to 2,300 MW. Financial and other\nterms of the transaction were not disclosed.\n \n   \"Since last summer, Dynegy and NRG have continued to produce all the\npower the state has requested. We have worked diligently with the DWR to\ncapture the value of our in-state generation, balanced with California's\nlong-term energy needs,\" said Steve Bergstrom, president and chief operating\nofficer of Dynegy Inc.", "clipped": true, "phrase": "Under the terms of the agreement which begins today, Dynegy and NRG's\n affiliates will provide 1,000 MW to DWR for the balance of 2001, and\nbeginning January 1, 2002 will provide up to 2,300 MW.", "path": "kean-s/all_documents/5639."}, "s270": {"from": "jeff.dasovich@enron.com", "to": "alan.comnes@enron.com, angela.schwarz@enron.com, beverly.aden@enron.com,   \tbill.votaw@enron.com, brenda.barreda@enron.com,   \tcarol.moffett@enron.com, cathy.corbin@enron.com,   \tchris.foster@enron.com, christina.liscano@enron.com,   \tcraig", "subject": "Dynegy and NRG Energy Announce Long-term Agreement With California", "text": "megawatts (MW) of energy through 2004.\n \n   Under the terms of the agreement which begins today, Dynegy and NRG's\n affiliates will provide 1,000 MW to DWR for the balance of 2001, and\nbeginning January 1, 2002 will provide up to 2,300 MW. Financial and other\nterms of the transaction were not disclosed.\n \n   \"Since last summer, Dynegy and NRG have continued to produce all the\npower the state has requested. We have worked diligently with the DWR to\ncapture the value of our in-state generation, balanced with California's\nlong-term energy needs,\" said Steve Bergstrom, president and chief operating\nofficer of Dynegy Inc.\n \n   Craig A. Mataczynski, president and chief executive officer of NRG North", "clipped": true, "phrase": "Financial and other\nterms of the transaction were not disclosed.", "path": "kean-s/all_documents/5639."}, "s271": {"from": "jeff.dasovich@enron.com", "to": "alan.comnes@enron.com, angela.schwarz@enron.com, beverly.aden@enron.com,   \tbill.votaw@enron.com, brenda.barreda@enron.com,   \tcarol.moffett@enron.com, cathy.corbin@enron.com,   \tchris.foster@enron.com, christina.liscano@enron.com,   \tcraig", "subject": "Dynegy and NRG Energy Announce Long-term Agreement With California", "text": "Under the terms of the agreement which begins today, Dynegy and NRG's\n affiliates will provide 1,000 MW to DWR for the balance of 2001, and\nbeginning January 1, 2002 will provide up to 2,300 MW. Financial and other\nterms of the transaction were not disclosed.\n \n   \"Since last summer, Dynegy and NRG have continued to produce all the\npower the state has requested. We have worked diligently with the DWR to\ncapture the value of our in-state generation, balanced with California's\nlong-term energy needs,\" said Steve Bergstrom, president and chief operating\nofficer of Dynegy Inc.\n \n   Craig A. Mataczynski, president and chief executive officer of NRG North\n America, said, \"Today's announcement solidifies our commitment to\neliminating uncertainty for our respective shareholders and restoring price\nstability and future reliability to the California electricity market.\"", "clipped": true, "phrase": "\"Since last summer, Dynegy and NRG have continued to produce all the\npower the state has requested. We have worked diligently with the DWR to\ncapture the value of our in-state generation", "path": "kean-s/all_documents/5639."}, "s274": {"from": "jeff.dasovich@enron.com", "to": "alan.comnes@enron.com, angela.schwarz@enron.com, beverly.aden@enron.com,   \tbill.votaw@enron.com, brenda.barreda@enron.com,   \tcarol.moffett@enron.com, cathy.corbin@enron.com,   \tchris.foster@enron.com, christina.liscano@enron.com,   \tcraig", "subject": "Dynegy and NRG Energy Announce Long-term Agreement With California", "text": "price\n of $69 per megawatt-hour, less than half the average price utilities paid\nlast\n year.\n \n   California's Department of Water Resources will buy as much as 8,886\n megawatts, enough to light about 9 million homes, under contracts ranging\nfrom\n four months to 20 years.  The suppliers include Enron Corp., Calpine Corp.,\nDuke\n Energy Corp., Williams Cos Inc., Dynegy Inc.  and Reliant Energy.\n \n   California's two biggest electric utilities, PG&E Corp.'s Pacific Gas &\n Electric and Edison International's Southern California Edison, owe more\nthan $\n 12 billion to power generators and can't buy more.  The utilities have been\n paying more for power than California regulators allow them to charge\nconsumers.\n The state is buying power on behalf of the utilities.\n \n   \"These agreements are the bedrock of our long-term energy policy,\" Mr.", "clipped": true, "phrase": "The suppliers include Enron Corp., Calpine Corp.,\nDuke\n Energy Corp., Williams Cos Inc., Dynegy Inc.  and Reliant Energy.", "path": "kean-s/all_documents/5639."}, "s321": {"from": "miyung.buster@enron.com", "to": "california.group@enron.com", "subject": "Energy Issues", "text": "customers.\n?????The publicity spin was similar when Edison's sprawling beachfront power \nplant in El Segundo changed hands the following year. \"Consumers in \nCalifornia will begin to benefit from more competitively priced electricity \nand more vibrant economy,\" announced Craig Mataczynski, vice president of \nMinneapolis-based NRG Corp., a partner in the purchase with Dynegy.\n\n?????Big Growth Was Predicted\n?????Utilities reaping profits from plant sales also trumpeted the consumer \nwindfall theme. Electricity rates would drop 20% by 2001, Pacific Gas & \nElectric's top executive, Robert Glynn, said in early 1998. \"There is no \nproduct bought on a daily basis that has such a predictable downward price \ntrajectory into the future.\"\n?????But to its Wall Street audience, the power suppliers emphasized climbing \nrevenues.", "clipped": true, "phrase": "announced Craig Mataczynski, vice president of \nMinneapolis-based NRG Corp., a partner in the purchase with Dynegy.", "path": "kean-s/all_documents/5333."}, "s351": {"from": "miyung.buster@enron.com", "to": "ann.schmidt@enron.com, bryan.seyfried@enron.com, dg27@pacbell.net,   \telizabeth.linnell@enron.com, filuntz@aol.com,   \tjames.steffes@enron.com, janet.butler@enron.com,   \tjeannie.mandelker@enron.com, jeff.dasovich@enron.com,   \tjoe.hartsoe@", "subject": "Energy Issues", "text": "system. \n\"Anyone who can do math can figure out that losing money is no incentive to \ngenerate power,\" said Ann MacLeod, executive director of the California \nCogeneration Council. \nThis situation is different from the one that led Houston-based Dynegy Corp. \nto threaten to shut down its San Diego-area plants this week. Dynegy said it \nno longer wants to sell power because it is afraid the state is not able to \npay the bill. \nThe Iceoplex plant, operated by Purenergy Corp., produces just under 50 \nmegawatts, nearly enough to supply a city the size of Escondido. Jim \nHinrichs, Purenergy's general manager in San Diego, said he did not know how \nlong it would be shut down. \n\"Our plant in Escondido is currently off-line until such time as we can \nprocure gas at a price where we can cover our fuel costs,\" Hinrichs said.", "clipped": true, "phrase": "to threaten to shut down its San Diego-area plants this week. Dynegy said it \nno longer wants to sell power because it is afraid the state is not able to \npay the bill.", "path": "kean-s/all_documents/5186."}, "s400": {"from": "henry.means@enron.com", "to": "", "subject": "Enron Mentions - 05/03/01", "text": "bets, analysts expect the company's net earnings per share to increase \nanother 25% this year to $575 million, or $1.80 per share. But Dynegy hasn't \nbeen immune to the power crisis afflicting California, where it co-owns four \npower plants with NRG Energy Inc. of Minneapolis that generate 2,800 \nmegawatts of capacity. \nIndeed, since the crisis began, Dynegy's been defending itself against \nallegations that it's overcharging for power. \nThe California situation has hurt Dynegy in other ways, too. On April 6, for \nexample, its stock fell 5%, to $48.34, after utility Pacific Gas & Electric \nCo., a unit of PG&E Corp., filed for bankruptcy. (Dynegy provides power to \nthe California market as a wholesaler but not to PG&E directly.)", "clipped": true, "phrase": "power plants with NRG Energy Inc. of Minneapolis that generate 2,800", "path": "kean-s/all_documents/5039."}, "s1202": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions - 11/24/01 - 11/25/01", "text": "In California, Dynegy owns power plants capable of generating 2,800 megawatts of electricity through a partnership with NRG Energy Inc. of Minneapolis. (A megawatt can supply about 750 average homes with electricity.) \nThe state's big investor-owned utilities were required to sell some of their power plants by the landmark 1996 deregulation legislation. By the end of 1998, the Dynegy/NRG partnership had purchased three large power plants in Long Beach, El Segundo and San Diego and a collection of 17 small \"peaker\" plants from Southern California Edison Co. and San Diego Gas & Electric Co.", "clipped": true, "phrase": "In California, Dynegy owns power plants capable of generating 2,800 megawatts of electricity through a partnership with NRG Energy Inc. of Minneapolis.", "path": "kitchen-l/_americas/sec_media/20."}, "s404": {"from": "henry.means@enron.com", "to": "", "subject": "Enron Mentions - 05/03/01", "text": "paid. \nDynegy denied the charge. \"Dynegy did not instruct SDG&E to shut down \ngenerating units, nor did we suggest that we would not make power available \nto creditworthy buyers,\" Stephen W. Bergstrom, Dynegy's president and COO, \nwrote in a letter to SDG&E Chairman and CEO Stephen Baum. \nDynegy has tried to downplay its exposure to the state's power woes. It's \nrepeatedly pointed out to the press that its 50% stake in the four power \nplants in California only represents 1,400 of its total generating portfolio \nof 13,000 megawatts, or about 10.8%. Analysts, however, estimate Dynegy's \nexposure in California could give its earnings a haircut of as much as 15% \nthis year. \nEven so, Dynegy's stock has recovered to a recent $56. \"Illinova has created", "clipped": true, "phrase": "Dynegy has tried to downplay its exposure to the state's power woes. It's", "path": "kean-s/all_documents/5039."}, "s405": {"from": "henry.means@enron.com", "to": "", "subject": "Enron Mentions - 05/03/01", "text": "to creditworthy buyers,\" Stephen W. Bergstrom, Dynegy's president and COO, \nwrote in a letter to SDG&E Chairman and CEO Stephen Baum. \nDynegy has tried to downplay its exposure to the state's power woes. It's \nrepeatedly pointed out to the press that its 50% stake in the four power \nplants in California only represents 1,400 of its total generating portfolio \nof 13,000 megawatts, or about 10.8%. Analysts, however, estimate Dynegy's \nexposure in California could give its earnings a haircut of as much as 15% \nthis year. \nEven so, Dynegy's stock has recovered to a recent $56. \"Illinova has created \nsome volatility to Dynegy's stock because of the addition of power generation \nto its business,\" Prudential's Coale said. \"But overall, it's been a great \ndeal.\"", "clipped": true, "phrase": "plants in California only represents 1,400 of its total generating portfolio", "path": "kean-s/all_documents/5039."}, "s407": {"from": "henry.means@enron.com", "to": "", "subject": "Enron Mentions - 05/03/01", "text": "repeatedly pointed out to the press that its 50% stake in the four power \nplants in California only represents 1,400 of its total generating portfolio \nof 13,000 megawatts, or about 10.8%. Analysts, however, estimate Dynegy's \nexposure in California could give its earnings a haircut of as much as 15% \nthis year. \nEven so, Dynegy's stock has recovered to a recent $56. \"Illinova has created \nsome volatility to Dynegy's stock because of the addition of power generation \nto its business,\" Prudential's Coale said. \"But overall, it's been a great \ndeal.\" \nWhile keeping most of Illinova management in place, Dynegy made the company's \nchairman, president and CEO, Charles Bayless, a nonexecutive director of the", "clipped": true, "phrase": "exposure in California could give its earnings a haircut of as much as 15%", "path": "kean-s/all_documents/5039."}, "s402": {"from": "henry.means@enron.com", "to": "", "subject": "Enron Mentions - 05/03/01", "text": "Co., a unit of PG&E Corp., filed for bankruptcy. (Dynegy provides power to \nthe California market as a wholesaler but not to PG&E directly.) \nDynegy has also been quibbling recently with another teetering California \nutility, Sempra Energy's San Diego Gas & Electric, which claimed April 12 \nthat Dynegy ordered it to shutter some of the facilities the utility sold it \nin 1999 -- but that it still operates -- because it doesn't think it will get \npaid. \nDynegy denied the charge. \"Dynegy did not instruct SDG&E to shut down \ngenerating units, nor did we suggest that we would not make power available \nto creditworthy buyers,\" Stephen W. Bergstrom, Dynegy's president and COO, \nwrote in a letter to SDG&E Chairman and CEO Stephen Baum. \nDynegy has tried to downplay its exposure to the state's power woes. It's", "clipped": true, "phrase": "that Dynegy ordered it to shutter some of the facilities the utility sold it", "path": "kean-s/all_documents/5039."}, "s448": {"from": "ray.niles@ssmb.com", "to": "", "subject": "INSIGHTFUL MEDIA ARTICLE ON CALIFORNIA POWER PRICES", "text": "power\ninto California, have fallen to $390 a megawatt-hour from a high of $600/MWh\nin\nlate March. Further out, power for 2004-2006 at mid-Columbia River, a key\ntrading hub north of California, has fallen from $58/MWh in February to\n$49/MWh\ntoday.\n  Companies like Calpine Corp. (CPN) and Dynegy (DYN) that took advantage of\nthe\nstate's buying binge are looking pretty fat and happy. In fact, they have\naffectionately started calling the governor Gravy Days. Enron Corp. (ENE),\nwhich\nhas been selling aggressively for two months, according to traders, is\nlooking\nlike a genius as usual. Generators that held out, like Reliant Energy (REI)\nand\nDuke Energy (DUK), may be sorry that they did.\n  It's been a long time since those long on western power have felt serious\npain", "clipped": true, "phrase": "Companies like Calpine Corp. (CPN) and Dynegy (DYN) that took advantage of", "path": "kitchen-l/_americas/portland/103."}, "s462": {"from": "jeff.dasovich@enron.com", "to": "alan.comnes@enron.com, angela.schwarz@enron.com, beverly.aden@enron.com,   \tbill.votaw@enron.com, brenda.barreda@enron.com,   \tcarol.moffett@enron.com, cathy.corbin@enron.com,   \tchris.foster@enron.com, christina.liscano@enron.com,   \tcraig", "subject": "CA Probe focuses on Dynegy, Mirant Plants", "text": "Griffin. \"There was a very forthright attempt to keep these plants up and \nrunning. Unequivocally, we have never held anything back.\" \n\nSome of the turbines at the Encina plant are peaking units, which are \nsupposed to ramp up and down to meet demand, Dynegy spokesman Steve Stengell \nsaid. The plant is operated by NRG, but Dynegy markets the power from the \nplant and tells NRG how much power to generate based on what has been sold. \n\n\"We've done absolutely nothing to manipulate prices,\" Stengell said. \n\"Electricity demand increases and decreases throughout the day. Our \nproduction increases and decreases to follow changing demand. Ultimately, the \nISO determines the exact amount of dispatch.\" \n\nA spokesman for Attorney General William Lockyer declined to comment on the \nongoing investigation.", "clipped": true, "phrase": "The plant is operated by NRG, but Dynegy markets the power from the", "path": "kean-s/all_documents/4813."}, "s465": {"from": "jeff.dasovich@enron.com", "to": "alan.comnes@enron.com, angela.schwarz@enron.com, beverly.aden@enron.com,   \tbill.votaw@enron.com, brenda.barreda@enron.com,   \tcarol.moffett@enron.com, cathy.corbin@enron.com,   \tchris.foster@enron.com, christina.liscano@enron.com,   \tcraig", "subject": "CA Probe focuses on Dynegy, Mirant Plants", "text": "the megawatts,\" the employee said. \"Then the spot price would go up, but we \ndidn't really pay too much attention to that, because as far as we know \neverybody was doing this. We knew how much power other plants were operating \nat, and we knew they weren't at full capacity.\" \n\nNRG spokeswoman Meredith Moore said that the ISO gives instructions to Dynegy \nand Dynegy tells NRG what to do. \"And there have been conditions when the ISO \ntold us to ramp down during Stage 2 emergencies,\" Moore said. \n\nAlso, one CPUC commissioner pointed out that the state's deregulation law \ndoesn't require owners of power plants to bid all of their capacity into the \nmarket. \n\nThe state's incumbent utilities, who were forced to sell their power plants", "clipped": true, "phrase": "NRG spokeswoman Meredith Moore said that the ISO gives instructions to Dynegy", "path": "kean-s/all_documents/4813."}, "s450": {"from": "michael.tribolet@enron.com", "to": "richard.shapiro@enron.com, james.steffes@enron.com,   \tharry.kingerski@enron.com, robert.neustaedter@enron.com,   \tchip.schneider@enron.com, lisa.mellencamp@enron.com,   \trichard.sanders@enron.com", "subject": "SF Chronicle article", "text": "maintenance. \n\nRamping may be rampant \n\nSources say Reliant was not alone in using the ramping practice. A source \nfamiliar with the state utilities commission investigation said output logs \nobtained from AES' Alamitos plant also reflected production fluctuations. And \nan operator who has worked at the El Segundo plant co-owned by NRG and Dynegy \nsaid the practice was used there, although less frequently. The scheduling \ncalls came from Dynegy's trading floor in Houston, rather than NRG in \nMinneapolis, he said. \n\nSteve Stengel, a spokesman for Dynegy, said changes in output at El Segundo \nwere a normal function of changing demand levels throughout the day, and \ndenied the company was engaged in gaming the California market.", "clipped": true, "phrase": "an operator who has worked at the El Segundo plant co-owned by NRG and Dynegy", "path": "sanders-r/all_documents/2034."}, "s451": {"from": "michael.tribolet@enron.com", "to": "richard.shapiro@enron.com, james.steffes@enron.com,   \tharry.kingerski@enron.com, robert.neustaedter@enron.com,   \tchip.schneider@enron.com, lisa.mellencamp@enron.com,   \trichard.sanders@enron.com", "subject": "SF Chronicle article", "text": "obtained from AES' Alamitos plant also reflected production fluctuations. And \nan operator who has worked at the El Segundo plant co-owned by NRG and Dynegy \nsaid the practice was used there, although less frequently. The scheduling \ncalls came from Dynegy's trading floor in Houston, rather than NRG in \nMinneapolis, he said. \n\nSteve Stengel, a spokesman for Dynegy, said changes in output at El Segundo \nwere a normal function of changing demand levels throughout the day, and \ndenied the company was engaged in gaming the California market. \n\nIn a May 2000 report, the California Energy Commission cited Reliant's \nEtiwanda plant, as well as the Alamitos and El Segundo plants, as some of the", "clipped": true, "phrase": "calls came from Dynegy's trading floor in Houston, rather than NRG in", "path": "sanders-r/all_documents/2034."}, "s454": {"from": "richard.sanders@enron.com", "to": "sbishop@gibbs-bruns.com, gfergus@brobeck.com, mlk@pkns.com", "subject": "SF Chronicle article", "text": "maintenance. \n\nRamping may be rampant \n\nSources say Reliant was not alone in using the ramping practice. A source \nfamiliar with the state utilities commission investigation said output logs \nobtained from AES' Alamitos plant also reflected production fluctuations. And \nan operator who has worked at the El Segundo plant co-owned by NRG and Dynegy \nsaid the practice was used there, although less frequently. The scheduling \ncalls came from Dynegy's trading floor in Houston, rather than NRG in \nMinneapolis, he said. \n\nSteve Stengel, a spokesman for Dynegy, said changes in output at El Segundo \nwere a normal function of changing demand levels throughout the day, and \ndenied the company was engaged in gaming the California market.", "clipped": true, "phrase": "an operator who has worked at the El Segundo plant co-owned by NRG and Dynegy", "path": "sanders-r/all_documents/2036."}, "s455": {"from": "richard.sanders@enron.com", "to": "sbishop@gibbs-bruns.com, gfergus@brobeck.com, mlk@pkns.com", "subject": "SF Chronicle article", "text": "obtained from AES' Alamitos plant also reflected production fluctuations. And \nan operator who has worked at the El Segundo plant co-owned by NRG and Dynegy \nsaid the practice was used there, although less frequently. The scheduling \ncalls came from Dynegy's trading floor in Houston, rather than NRG in \nMinneapolis, he said. \n\nSteve Stengel, a spokesman for Dynegy, said changes in output at El Segundo \nwere a normal function of changing demand levels throughout the day, and \ndenied the company was engaged in gaming the California market. \n\nIn a May 2000 report, the California Energy Commission cited Reliant's \nEtiwanda plant, as well as the Alamitos and El Segundo plants, as some of the", "clipped": true, "phrase": "calls came from Dynegy's trading floor in Houston, rather than NRG in", "path": "sanders-r/all_documents/2036."}, "s458": {"from": "michael.tribolet@enron.com", "to": "richard.shapiro@enron.com, james.steffes@enron.com,   \tharry.kingerski@enron.com, robert.neustaedter@enron.com,   \tchip.schneider@enron.com, lisa.mellencamp@enron.com,   \trichard.sanders@enron.com", "subject": "SF Chronicle article", "text": "Ramping may be rampant \n\nSources say Reliant was not alone in using the ramping practice. A source familiar with the state utilities commission investigation said output logs obtained from AES' Alamitos plant also reflected production fluctuations. And an operator who has worked at the El Segundo plant co-owned by NRG and Dynegy said the practice was used there, although less frequently. The scheduling calls came from Dynegy's trading floor in Houston, rather than NRG in Minneapolis, he said. \n\nSteve Stengel, a spokesman for Dynegy, said changes in output at El Segundo were a normal function of changing demand levels throughout the day, and denied the company was engaged in gaming the California market. \n\nIn a May 2000 report, the California Energy Commission cited Reliant's Etiwanda plant, as well as the Alamitos and El Segundo plants, as some of the \"major beneficiaries of high real-time prices\" that spring.", "clipped": true, "phrase": "an operator who has worked at the El Segundo plant co-owned by NRG and Dynegy said the practice was used there, although less frequently. The scheduling calls came from Dynegy's trading floor in Houston, rather than NRG in Minneapolis", "path": "sanders-r/iso__pricecaps/454."}, "s513": {"from": "christopher.calger@enron.com", "to": "jake.thomas@enron.com, michael.mcdonald@enron.com, david.parquet@enron.com", "subject": "DWR", "text": "FYI we got a look at the executed contracts.  Yoder and Hall are checking / summarizing terms and conditions.  \n\nAllegheny\t\t150MW - 1000MW \tFirm\nCalpine\t\t\t400MW - 2500MW\tFirm and Unit Cont\nConstellation\t\t200MW\t\t\tFirm\nDynegy\t\t\t1000MW\t\tFirm and Unit Contingent\nEl Paso\t\t\t100MW\t\t\tFirm\nMirant\t\t\t500MW \t\tFirm\nMorgan Stanley\t\t50MW\t\t\tFirm\nPG&E\t\t\t75MW\t\t\tUnit Contingent\nPinnacle West\t\t100MW\t\t\tFirm\nVarious Developers\t2000MW\t\tUnit Cont\n\t\t\t4575MW - 7525MW\nChris Calger\n503-464-XXXX", "clipped": false, "phrase": "Dynegy\t\t\t1000MW\t\tFirm and Unit Contingent", "path": "kitchen-l/_americas/portland/89."}, "s519": {"from": "mark.muller@enron.com", "to": "steven.kean@enron.com, james.steffes@enron.com", "subject": "FW: where does our energy come from?", "text": "10%- Los Angeles Department of Water and Power (California)\n10%- Imported power from the Southwest\n7%- State and Federal Agencies\n6%- AES power company\n5%- Municipal Utilities and Irrigation Districts\n5%- Reliant power company\n4%- Duke power company\n4%- Southern power company\n4%- Dynegy power company\n1%- Sacramento Municipal Utility District (California)\n1%- Calpine power company\n1%- San Diego Gas and Electric (California)\n\nIt should be noted that of this list, only Dynegy and Reliant are from\nTexas.  These two companies represent a total of 9% of California's energy\nportfolio.  By comparison, Georgia-based Southern (Mirant), Virginia's AES,\nand North Carolina's Duke Energy, have a 14% share of our energy portfolio.", "clipped": true, "phrase": "4%- Dynegy power company", "path": "kean-s/all_documents/8826."}, "s520": {"from": "mark.muller@enron.com", "to": "steven.kean@enron.com, james.steffes@enron.com", "subject": "FW: where does our energy come from?", "text": "6%- AES power company\n5%- Municipal Utilities and Irrigation Districts\n5%- Reliant power company\n4%- Duke power company\n4%- Southern power company\n4%- Dynegy power company\n1%- Sacramento Municipal Utility District (California)\n1%- Calpine power company\n1%- San Diego Gas and Electric (California)\n\nIt should be noted that of this list, only Dynegy and Reliant are from\nTexas.  These two companies represent a total of 9% of California's energy\nportfolio.  By comparison, Georgia-based Southern (Mirant), Virginia's AES,\nand North Carolina's Duke Energy, have a 14% share of our energy portfolio.\nThis list does not focus on who is gaming the market.  However, every\nprovider listed benefited from skyrocketing energy prices.  In trying to\nidentify those power producers who used market power to ring up high profits\non Californians, we should include ALL power producers in our", "clipped": true, "phrase": "It should be noted that of this list, only Dynegy and Reliant are from\nTexas.  These two companies represent a total of 9% of California's energy\nportfolio.", "path": "kean-s/all_documents/8826."}, "s521": {"from": "karen.denne@enron.com", "to": "kenneth.lay@enron.com, jeff.skilling@enron.com, jeff.dasovich@enron.com,   \tsusan.mara@enron.com, alan.comnes@enron.com,   \trichard.shapiro@enron.com, james.steffes@enron.com,   \tharry.kingerski@enron.com, ken@kdscommunications.com,   \teliz", "subject": "LA Times Article", "text": "Electric's parent company, and the Los Angeles Department of Water and Power, \nthe report shows. Their average prices ranged from $498 a megawatt-hour \ncharged by Powerex, the trading arm of British Columbia's BC Hydro, to $292 \nan hour by the DWP. \nIn fact, some of the biggest private power companies singled out for \ncriticism by Davis and other state officials--Dynegy Inc., Duke Energy and \nMirant--charged less than the average prices the state paid for the period. \nThose companies' average prices ranged from $146 to $240 per megawatt-hour, \naccording to an analysis of the documents. \nThe figures cover the various types of spot and longer-term power purchased \nby the state during three months that included rolling blackouts and more \nthan a month of razor-thin reserves, leading to continuous power emergencies. \nDavis spokesman Steve Maviglio said the governor has directed his sharpest", "clipped": true, "phrase": "some of the biggest private power companies singled out for \ncriticism by Davis and other state officials--Dynegy Inc., Duke Energy and \nMirant--charged less than the average prices the state paid for the period.", "path": "kean-s/all_documents/8825."}, "s522": {"from": "ken@kdscommunications.com", "to": "kenneth.lay@enron.com, jeff.skilling@enron.com, jeff.dasovich@enron.com,   \tsusan.j.mara@enron.com, alan.comnes@enron.com,   \trichard.shapiro@enron.com, james.d.steffes@enron.com,   \tharry.kingerski@enron.com, elizabeth.tilney@enron.com,   ", "subject": "Re: LA Times Article", "text": "Hydro, to $292 an hour by the DWP.\n\nIn fact, some of the biggest private power companies singled out for\ncriticism by Davis and other state officials--Dynegy Inc., Duke Energy and\nMirant--charged less than the average prices the state paid for the period.\nThose companies' average prices ranged from $146 to $240 per megawatt-hour,\naccording to an analysis of the documents.\n\nThe figures cover the various types of spot and longer-term power purchased\nby the state during three months that included rolling blackouts and more\nthan a month of razor-thin reserves, leading to continuous power\nemergencies.\n\nDavis spokesman Steve Maviglio said the governor has directed his sharpest\nbarbs at private out-of-state generators because, in general, they have\nreaped the highest profits over the longest period.", "clipped": true, "phrase": "Those companies' average prices ranged from $146 to $240 per megawatt-hour,\naccording to an analysis of the documents.", "path": "kean-s/all_documents/8821."}, "s524": {"from": "ann.schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "for the state. \nVikram Budhraja, president of Pasadena-based Electric Power Group LLC, on \nJan. 11 purchased between $10,000 and $100,000 in stock of Dynegy, a \nelectricity and natural gas producer. He sold it off on Jan. 29, 10 days \nafter he came to work for the state. Budhraja has been a top negotiator of \nthe state's long-term energy contracts, which have included a deal concluded \nMarch 2 with Dynegy. \nRichard Ferreira, a retired Sacramento Utility District executive hired by \nthe state to negotiate long-term power contracts, reported the purchase of \nbetween $2,000 and $10,000 of stock in Calpine, a San Jose-based energy firm, \nin August 2000. He also purchased a similar amount of stock in General \nElectric Co., which produces power plant equipment, in April 2000. \nBernard Barretto, an energy trader, reported that he owned an undisclosed", "clipped": true, "phrase": "Budhraja has been a top negotiator of \nthe state's long-term energy contracts, which have included a deal concluded \nMarch 2 with Dynegy.", "path": "kean-s/all_documents/8787."}, "s525": {"from": "ann.schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "But one of the new workers, William Mead, disclosed that he owned between $100,000 and$1 million in Calpine, a San Jose-based energy firm. Mead did not report when the stock had been purchased. \nOnly one of the contractors reported selling off stock after coming to work for the state. \nVikram Budhraja, president of Pasadena-based Electric Power Group LLC, on Jan. 11 purchased between $10,000 and $100,000 in stock of Dynegy, a electricity and natural gas producer. He sold it off on Jan. 29, 10 days after he came to work for the state. Budhraja has been a top negotiator of the state's long-term energy contracts, which have included a deal concluded March 2 with Dynegy.", "clipped": true, "phrase": "Vikram Budhraja, president of Pasadena-based Electric Power Group LLC, on Jan. 11 purchased between $10,000 and $100,000 in stock of Dynegy, a electricity and natural gas producer. He sold it off on Jan. 29", "path": "kean-s/california/1976."}, "s550": {"from": "c..hall@enron.com", "to": "b..sanders@enron.com", "subject": "CDWR unable to tie power costs to sales b/c it pools the power   together as a portfolio.", "text": "eral Electric in Oregon, have said they, too, are selling some surplus power at a loss and describe it as a cost of doing business.  The suppliers buying the state's surplus electricity on the cheap include the big out-of-state energy companies that the governor has called price-gouging ``snakes.'' Among them are Duke Energy, Dynegy Power and Marketing, El Paso Power Services, Mirant, Reliant Energy and Williams Energy.  `Best bid' taken  Hidalgo said the state took the best offers it could find.  ``It's only reasonable to get the best bid you can,'' he said.  Campbell said the $14 million loss is troubling because ratepayers or taxpayers will have to cover the cost, whereas a private utility could be forced to eat the expense if regulators determined it was unreasonable.  State officials say what's more important is that the overall cost of power is dropping,", "clipped": true, "phrase": "Among them are Duke Energy, Dynegy Power and Marketing, El Paso Power Services, Mirant, Reliant Energy and Williams Energy.", "path": "sanders-r/iso__pricecaps/476."}, "s569": {"from": "jeff.dasovich@enron.com", "to": "j..kean@enron.com, richard.shapiro@enron.com, karen.denne@enron.com,   \tsusan.mara@enron.com, paul.kaufman@enron.com,   \tmichael.tribolet@enron.com, karen.denne@enron.com,   \tpr <.palmer@enron.com>, linda.robertson@enron.com,   \tm..landwehr", "subject": "LA Times Story on Bad DWR Long-term Contracts", "text": "\"When you compare those two contracts,\" Marcus said, \"you know you've got a dog here. I think Williams showed up earlier, and the state was desperate.\" \n\n* An agreement with Dynegy Corp. of Houston that requires the state to pay for emissions credits and upgrading of pollution control equipment on the firm's California-based plants. The contract puts no ceiling on those costs, Marcus said, and it is unclear how high they are likely to go. \n\n* A pact to buy electricity from a plant being built in Victorville by a partnership between Inland Energy of Newport Beach and Constellation Power Development of Baltimore. The state agreed to a price of $58 per megawatt-hour, but is obligated to take all of the power, 24 hours a day, seven days a week.", "clipped": true, "phrase": "An agreement with Dynegy Corp. of Houston that requires the state to pay for emissions credits and upgrading of pollution control equipment on the firm's California-based plants.", "path": "kean-s/california/1963."}, "s570": {"from": "jeff.dasovich@enron.com", "to": "j..kean@enron.com, richard.shapiro@enron.com, karen.denne@enron.com,   \tsusan.mara@enron.com, paul.kaufman@enron.com,   \tmichael.tribolet@enron.com, karen.denne@enron.com,   \tpr <.palmer@enron.com>, linda.robertson@enron.com,   \tm..landwehr", "subject": "LA Times Story on Bad DWR Long-term Contracts", "text": "* An agreement with Dynegy Corp. of Houston that requires the state to pay for emissions credits and upgrading of pollution control equipment on the firm's California-based plants. The contract puts no ceiling on those costs, Marcus said, and it is unclear how high they are likely to go. \n\n* A pact to buy electricity from a plant being built in Victorville by a partnership between Inland Energy of Newport Beach and Constellation Power Development of Baltimore. The state agreed to a price of $58 per megawatt-hour, but is obligated to take all of the power, 24 hours a day, seven days a week.", "clipped": true, "phrase": "The contract puts no ceiling on those costs, Marcus said, and it is unclear how high they are likely to go.", "path": "kean-s/california/1963."}, "s583": {"from": "rahil.jafry@enron.com", "to": "louise.kitchen@enron.com", "subject": "Fw: Rahil Jafry: USA:   UPDATE 4-Dynegy hits upper end of Q3   earnings targets.", "text": "stock this year has fallen some 15 percent, outperforming the Standard &\nPoor's utilities index, which has lost 21 percent.\n\nDespite the strong earnings growth, shares of Dynegy were down $1.02, or 2.34\npercent, to $42.63 in Monday afternoon trading. Analysts cited rumors that the\nCalifornia Public Utilities Commission (CPUC) wants to renegotiate the power\npurchase contracts that the California Department of Water Resources holds\nwith companies like Dynegy, Calpine Corp., Mirant Corp. and Williams Cos.\nInc..\n\nA spokesman for the Department of Water Resources, however, said it doesn't\nplan to renegotiate the deals.\n\n\"These companies renegotiate contracts all the time. The question is, do they\nmaintain value in the contracts or do they lose value in the contracts?\" said\nanalyst Jeff Dietert of Simmons and Co. \"And I think the assumption that the\nmarket is making is that Dynegy and others would lose value in their\ncontracts.\"", "clipped": true, "phrase": "Analysts cited rumors that the\nCalifornia Public Utilities Commission (CPUC) wants to renegotiate the power\npurchase contracts that the California Department of Water Resources holds\nwith companies like Dynegy, Calpine Corp., Mirant Corp. and Williams Cos.\nInc..", "path": "kitchen-l/_americas/east_power/32."}, "s584": {"from": "rahil.jafry@enron.com", "to": "louise.kitchen@enron.com", "subject": "Fw: Rahil Jafry: USA:   UPDATE 4-Dynegy hits upper end of Q3   earnings targets.", "text": "maintain value in the contracts or do they lose value in the contracts?\" said\nanalyst Jeff Dietert of Simmons and Co. \"And I think the assumption that the\nmarket is making is that Dynegy and others would lose value in their\ncontracts.\"\n\nDynegy still has an accounts receivable balance of about $320 to $325 million\nfor power it produced for cash-challenged California utilities. \"We're not out\nof the woods yet,\" said President and Chief Operating Officer Stephen\nBergstrom on a conference call.\n\nBut he noted there could be some resolution by the second or third quarter of\nnext year. After all, PG&E Corp.'s Pacific and Gas Electric utility sought\nbankruptcy in April and filed a reorganization plan on Sept. 20. Edison\nInternational's Southern California Edison utility plans to pay off its", "clipped": true, "phrase": "Dynegy still has an accounts receivable balance of about $320 to $325 million\nfor power it produced for cash-challenged California utilities.", "path": "kitchen-l/_americas/east_power/32."}, "s1203": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions - 11/24/01 - 11/25/01", "text": "The state's big investor-owned utilities were required to sell some of their power plants by the landmark 1996 deregulation legislation. By the end of 1998, the Dynegy/NRG partnership had purchased three large power plants in Long Beach, El Segundo and San Diego and a collection of 17 small \"peaker\" plants from Southern California Edison Co. and San Diego Gas & Electric Co. \nUnder the arrangement between the partnership, NRG operates the power plants and Dynegy markets the electricity from them. It is Dynegy's bidding practices in selling that power into state markets that put it, along with other energy producers, on the wrong side of the state grid operator and federal energy regulators. \nAmong the allegations:", "clipped": true, "phrase": "By the end of 1998, the Dynegy/NRG partnership had purchased three large power plants in Long Beach, El Segundo and San Diego and a collection of 17 small \"peaker\" plants", "path": "kitchen-l/_americas/sec_media/20."}, "s1213": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions - 11/24/01 - 11/25/01", "text": "Dynegy portrays itself as a minor player in the California market, representing about 4% of the state's generation. \nBut Cal-ISO, in asking federal regulators to revoke Dynegy's authority to sell power at market rates, said \"Dynegy has profited systematically from the exercise of market power to the significant harm of California's electric consumers and economy.\" A decision is pending. \nOfficials reviewing the Dynegy-Enron merger will closely review the companies' operations in California.", "clipped": true, "phrase": "Dynegy portrays itself as a minor player in the California market, representing about 4% of the state's generation.", "path": "kitchen-l/_americas/sec_media/20."}, "s1200": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions - 11/24/01 - 11/25/01", "text": "But in California, Dynegy has a different image.\nDynegy, co-owner of several Southern California power plants, has been the quietest member of the \"Big Five\" group of energy producers commonly portrayed as villains by California politicians and regulators. Gov. Gray Davis and others have called Dynegy and its fellow energy suppliers \"gougers\" and \"pirates\" who manipulated the market and charged too much for electricity, precipitating California's blackout-studded energy crisis.", "clipped": true, "phrase": "Dynegy, co-owner of several Southern California power plants, has been the quietest member of the \"Big Five\" group of energy producers commonly portrayed as villains by California politicians and regulators.", "path": "kitchen-l/_americas/sec_media/20."}, "s1209": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions - 11/24/01 - 11/25/01", "text": "\"Dynegy has acted ethically and responsibly in California,\" said Dynegy spokesman John Sousa. \"The fundamental problem in California is that supply did not keep up with demand.\" \n\"Dynamic Energy\" \nAccused of Overcharging", "clipped": true, "phrase": "\"Dynegy has acted ethically and responsibly in California,\" said Dynegy spokesman John Sousa.", "path": "kitchen-l/_americas/sec_media/20."}, "s1211": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions - 11/24/01 - 11/25/01", "text": "During the first three months of this year, after sky-high prices pushed Edison and PG&E so close to insolvency that the state had to step in and buy power for their customers, Dynegy sold power to the DWR at an average price of $239.63 per megawatt-hour for electricity. That was slightly below the average of $268.90 per megawatt-hour charged by all sellers. \nDynegy portrays itself as a minor player in the California market, representing about 4% of the state's generation. \nBut Cal-ISO, in asking federal regulators to revoke Dynegy's authority to sell power at market rates, said \"Dynegy has profited systematically from the exercise of market power to the significant harm of California's electric consumers and economy.\" A decision is pending.", "clipped": true, "phrase": "Dynegy sold power to the DWR at an average price of $239.63 per megawatt-hour for electricity. That was slightly below the average of $268.90 per megawatt-hour charged by all sellers.", "path": "kitchen-l/_americas/sec_media/20."}, "s1212": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions - 11/24/01 - 11/25/01", "text": "In addition, Dynegy signed long-term electricity contracts with the state that have been singled out by critics for containing potentially lucrative clauses requiring that the state pay emissions costs and other costs. \nThe California Independent System Operator, which runs the long-distance power transmission grid serving much of the state, has asked federal regulators to ban Dynegy from selling power at market prices. Cal-ISO has made the same request concerning the other major power plant owners: Duke, Reliant, Atlanta-based Mirant Inc. and AES Corp. of Arlington, Va., which markets its power through an agreement with Williams Cos. of Tulsa, Okla.", "clipped": true, "phrase": "Dynegy signed long-term electricity contracts with the state that have been singled out by critics for containing potentially lucrative clauses requiring that the state pay emissions costs and other costs.", "path": "kitchen-l/_americas/sec_media/20."}, "s64": {"from": "susan.mara@enron.com", "to": "james.steffes@enron.com, richard.shapiro@enron.com, mary.hain@enron.com,   \tharry.kingerski@enron.com, vicki.sharp@enron.com,   \trichard.sanders@enron.com, christian.yoder@enron.com,   \tsteve.c.hall@enron.com, jeff.dasovich@enron.com,   \tmo", "subject": "WPTF Discussion of CPUC Subpoenas", "text": "a bit about what they were doing to respond. New West received a subpoena,  \nbut not its parent Salt River.  APX did not receive one.  (Separately, I \nlearned that New Energy hasn't found one yet, though its parent AES got one)\n\nJoe Paul of Dynegy took the lead and said that the generators had been having \na weekly conference call to coordinate.  They had negotiated with the CPUC to \nget the Protective Order that came out last week.  \n\nI suggested that the people receiving last Friday's subpoenas work toether \nthe same way.  Dan Douglas (WPTF's attorney) will send an e-mail out asking \nthe interested members to contact me.\n\nJoe said that the issues they have seen are:  whether to file a motion to \nquash, what jurisdiction the CPUC has, what information should be shared, as", "clipped": true, "phrase": "Joe Paul of Dynegy took the lead and said that the generators had been having \na weekly conference call to coordinate.", "path": "sanders-r/all_documents/638."}, "s65": {"from": "susan.mara@enron.com", "to": "james.steffes@enron.com, richard.shapiro@enron.com, mary.hain@enron.com,   \tharry.kingerski@enron.com, vicki.sharp@enron.com,   \trichard.sanders@enron.com, christian.yoder@enron.com,   \tsteve.c.hall@enron.com, jeff.dasovich@enron.com,   \tmo", "subject": "WPTF Discussion of CPUC Subpoenas", "text": "but not its parent Salt River.  APX did not receive one.  (Separately, I \nlearned that New Energy hasn't found one yet, though its parent AES got one)\n\nJoe Paul of Dynegy took the lead and said that the generators had been having \na weekly conference call to coordinate.  They had negotiated with the CPUC to \nget the Protective Order that came out last week.  \n\nI suggested that the people receiving last Friday's subpoenas work toether \nthe same way.  Dan Douglas (WPTF's attorney) will send an e-mail out asking \nthe interested members to contact me.\n\nJoe said that the issues they have seen are:  whether to file a motion to \nquash, what jurisdiction the CPUC has, what information should be shared, as \nwell as other PR and legal issues.  He felt that ESP and SC issues may be", "clipped": true, "phrase": "They had negotiated with the CPUC to \nget the Protective Order that came out last week.", "path": "sanders-r/all_documents/638."}, "s66": {"from": "susan.mara@enron.com", "to": "james.steffes@enron.com, richard.shapiro@enron.com, mary.hain@enron.com,   \tharry.kingerski@enron.com, vicki.sharp@enron.com,   \trichard.sanders@enron.com, christian.yoder@enron.com,   \tsteve.c.hall@enron.com, jeff.dasovich@enron.com,   \tmo", "subject": "WPTF Discussion of CPUC Subpoenas", "text": "get the Protective Order that came out last week.  \n\nI suggested that the people receiving last Friday's subpoenas work toether \nthe same way.  Dan Douglas (WPTF's attorney) will send an e-mail out asking \nthe interested members to contact me.\n\nJoe said that the issues they have seen are:  whether to file a motion to \nquash, what jurisdiction the CPUC has, what information should be shared, as \nwell as other PR and legal issues.  He felt that ESP and SC issues may be \nquite different from generaters and suggested we work together.  The \nGenerators have already given some public data tothe CPUC.  He says Dynegy is \nlikely to argue that this type of analysis should not be done by the CPUC, \nbut by the Market Surveillance Committee or someone of that ilk.\n\nI'll keep you posted as I learn more.", "clipped": true, "phrase": "Joe said that the issues they have seen are:  whether to file a motion to \nquash, what jurisdiction the CPUC has, what information should be shared", "path": "sanders-r/all_documents/638."}, "s67": {"from": "susan.mara@enron.com", "to": "james.steffes@enron.com, richard.shapiro@enron.com, mary.hain@enron.com,   \tharry.kingerski@enron.com, vicki.sharp@enron.com,   \trichard.sanders@enron.com, christian.yoder@enron.com,   \tsteve.c.hall@enron.com, jeff.dasovich@enron.com,   \tmo", "subject": "WPTF Discussion of CPUC Subpoenas", "text": "quash, what jurisdiction the CPUC has, what information should be shared, as \nwell as other PR and legal issues.  He felt that ESP and SC issues may be \nquite different from generaters and suggested we work together.  The \nGenerators have already given some public data tothe CPUC.  He says Dynegy is \nlikely to argue that this type of analysis should not be done by the CPUC, \nbut by the Market Surveillance Committee or someone of that ilk.\n\nI'll keep you posted as I learn more.", "clipped": true, "phrase": "He says Dynegy is \nlikely to argue that this type of analysis should not be done by the CPUC, \nbut by the Market Surveillance Committee or someone of that ilk.", "path": "sanders-r/all_documents/638."}, "s68": {"from": "susan.mara@enron.com", "to": "james.steffes@enron.com, richard.shapiro@enron.com, mary.hain@enron.com,   \tharry.kingerski@enron.com, vicki.sharp@enron.com,   \trichard.sanders@enron.com, christian.yoder@enron.com,   \tsteve.c.hall@enron.com, jeff.dasovich@enron.com,   \tmo", "subject": "WPTF Discussion of CPUC Subpoenas", "text": "Joe said that the issues they have seen are:  whether to file a motion to \nquash, what jurisdiction the CPUC has, what information should be shared, as \nwell as other PR and legal issues.  He felt that ESP and SC issues may be \nquite different from generaters and suggested we work together.  The \nGenerators have already given some public data tothe CPUC.  He says Dynegy is \nlikely to argue that this type of analysis should not be done by the CPUC, \nbut by the Market Surveillance Committee or someone of that ilk.\n\nI'll keep you posted as I learn more.", "clipped": true, "phrase": "The \nGenerators have already given some public data tothe CPUC.", "path": "sanders-r/all_documents/638."}, "s76": {"from": "richard.sanders@enron.com", "to": "mike.smith@enron.com", "subject": "Re: Cal PUC Subpoenas", "text": "Mike, Gary,and I are contacting the generators(Duke, Dynegy, Southern, \nReliant, and Williams) today to discuss their approaches. Should we contact \nany retailers?", "clipped": false, "phrase": "Mike, Gary,and I are contacting the generators(Duke, Dynegy, Southern, \nReliant, and Williams) today to discuss their approaches.", "path": "sanders-r/all_documents/659."}, "s108": {"from": "issuealert@scientech.com", "to": "", "subject": "Market Manipulation or Fair Earnings in California? Enron, Dynegy   Report Huge Profits", "text": "in which energy buyers are left with little choice but to pay exorbitant\nprices.\n\nThe report cites Dynegy as an example. Dynegy and NRG Energy Inc. are involved\nin a joint venture called Cabrillo Power, which oversees the operation\nof the Encina power plant in Carlsbad, Calif.  McCollough reports that\nthe Encina plant operated at well below its full capacity for much of June,\neven though wholesale prices were well above the generating plant's cost\nof production. A representative from Cabrillo Power denied that the Encina\nplant had been used to game the system in this way, and stated that, in\nfact, the plant was often in danger of being shut down last summer due\nto heavy output.\n\nThe response to both McCollough's and the PX's report has been very mixed.\nOne camp remains steadfast in claiming that western states did indeed have\na supply shortage this summer, which was the primary reason for the high", "clipped": true, "phrase": "McCollough reports that\nthe Encina plant operated at well below its full capacity for much of June,\neven though wholesale prices were well above the generating plant's cost\nof production.", "path": "kean-s/all_documents/1653."}, "s109": {"from": "issuealert@scientech.com", "to": "", "subject": "Market Manipulation or Fair Earnings in California? Enron, Dynegy   Report Huge Profits", "text": "of the Encina power plant in Carlsbad, Calif.  McCollough reports that\nthe Encina plant operated at well below its full capacity for much of June,\neven though wholesale prices were well above the generating plant's cost\nof production. A representative from Cabrillo Power denied that the Encina\nplant had been used to game the system in this way, and stated that, in\nfact, the plant was often in danger of being shut down last summer due\nto heavy output.\n\nThe response to both McCollough's and the PX's report has been very mixed.\nOne camp remains steadfast in claiming that western states did indeed have\na supply shortage this summer, which was the primary reason for the high\nprices. People in this camp also claim that data from the EPA about power", "clipped": true, "phrase": "A representative from Cabrillo Power denied that the Encina\nplant had been used to game the system in this way", "path": "kean-s/all_documents/1653."}, "s132": {"from": "gfergus@brobeck.com", "to": "richard.b.sanders@enron.com", "subject": "CPUC Filing at FERC", "text": "I just got off the phone with Nancy Pickover, a Bracewell paralegal,\nwho obtained for us the CPUC filing with FERC.  She is sending the 500 page\ndocument overnight to me and to you Richard.  I will get a copy to Mike Day.\nShe is faxing the 16 page pleading and one of the exhibits immediately.  In\nessence AES, Williams, Duke, Dynegy, Reliant and Southern are the named\nentities.  As soon as we have more I will let you know.\n\nThanks\nGary\n\n=======================================================\nThis email message is for the sole use of the intended recipient(s) and may \ncontain confidential and privileged information. Any unauthorized review, \nuse, disclosure or distribution is prohibited. If you are not the intended \nrecipient, please contact the sender by reply email and destroy all copies of \nthe original message.", "clipped": true, "phrase": "In\nessence AES, Williams, Duke, Dynegy, Reliant and Southern are the named\nentities.", "path": "sanders-r/all_documents/903."}, "s133": {"from": "gfergus@brobeck.com", "to": "mary.hain@enron.com, dwatkiss@bracepatt.com, susan.j.mara@enron.com,   \trichard.b.sanders@enron.com, james.d.steffes@enron.com,   \tchristian.yoder@enron.com, jeff.dasovich@enron.com, mday@gmssr.com,   \tgfergus@brobeck.com, rcarroll@bracepat", "subject": "RE: Important - CPUC Motion - Confidential Attorney Client Privil   ege and Work Product", "text": "I just spoke with Mary to make sure we have the same information.  Here are\nthe facts we have so far.  On November 4th, the CPUC filed a motion with\nFERC to adopt the form of protective order that the CPUC entered, to compel\nthe production of documents and to shorten time to answer.  According to\nExhibit B (read to me by Nancy Pickover at Bracewell) the following CPUC\nmoved against the following entities:  AES, Williams, Duke, Dynegy, Reliant\nand Southern.  Enron entities were NOT named in exhibit B.  This is not to\nsay that we could not be easily added to the group.  While the motion reads\nas if the CPUC was moving against everybody, in fact, in footnote 2 they\nstate they are only moving against the entities named in Exhibit B.  We will\nhave Exhibit B in hand first thing tomorrow via FEDEX to confirm this.  To\nrepeat, Enron is not named yet.\n\nThanks\nGary\n\n-----Original Message-----", "clipped": true, "phrase": "According to\nExhibit B (read to me by Nancy Pickover at Bracewell) the following CPUC\nmoved against the following entities:  AES, Williams, Duke, Dynegy, Reliant\nand Southern.", "path": "sanders-r/all_documents/908."}, "s134": {"from": "rcarroll@bracepatt.com", "to": "dwatkiss@bracepatt.com, gfergus@brobeck.com, alan.comnes@enron.com,   \tchristian.yoder@enron.com, james.d.steffes@enron.com,   \tjeff.dasovich@enron.com, joe.hartsoe@enron.com, mary.hain@enron.com,   \trichard.b.sanders@enron.com, sarah.novos", "subject": "RE: Important - CPUC Motion - Confidential Attorney ClientPrivil   ege and Work Product", "text": "moved against the following entities:  AES, Williams, Duke, Dynegy, Reliant\nand Southern.  Enron entities were NOT named in exhibit B.  This is not to\nsay that we could not be easily added to the group.  While the motion reads\nas if the CPUC was moving against everybody, in fact, in footnote 2 they\nstate they are only moving against the entities named in Exhibit B.  We will\nhave Exhibit B in hand first thing tomorrow via FEDEX to confirm this.  To\nrepeat, Enron is not named yet.\n\nThanks\nGary\n\n-----Original Message-----\nFrom: Mary.Hain@enron.com [mailto:Mary.Hain@enron.com]\nSent: Tuesday, November 07, 2000 6:23 PM\nTo: dwatkiss@bracepatt.com; Susan.J.Mara@enron.com;\nRichard.B.Sanders@enron.com; James.D.Steffes@enron.com;\nChristian.Yoder@enron.com; Jeff.Dasovich@enron.com; mday@gmssr.com;\ngfergus@brobeck.com; rcarroll@bracepatt.com; Alan.Comnes@enron.com;", "clipped": true, "phrase": "in footnote 2 they\nstate they are only moving against the entities named in Exhibit B.  We will\nhave Exhibit B in hand first thing tomorrow via FEDEX to confirm this.", "path": "sanders-r/all_documents/912."}, "s144": {"from": "mark.palmer@enron.com", "to": "richard.shapiro@enron.com, steven.kean@enron.com, jeff.dasovich@enron.com,   \trichard.sanders@enron.com, paul.kaufman@enron.com", "subject": "RE: FW: ANNOUNCEMENT: Notice of Press Conference today", "text": "electricity which is ultimately sold to California consumers, including\nplaintiff and the class, and is a WSCC member.  Southern Energy operates six\nelectricity generating plants in California which supply wholesale\nelectricity to the California Power Exchange.\n10. Defendant Dynegy, Inc. (hereinafter \"Dynegy\") is a Houston, Texas\nbased public corporation doing business in the state of California as Dynegy\nMarketing and Trade. It is a generator and trader of wholesale electricity\nwhich is ultimately sold to California consumers, including plaintiff and\nthe class, and is a WSCC member.  Dynegy operates two electricity generating\npower plants in California which supply wholesale electricity to the\nCalifornia Power Exchange.\n 11.  Defendant NRG Energy, Inc. (hereinafter \"NRG\") is a Minneapolis,\nMinnesota based public corporation doing business in the state of California", "clipped": true, "phrase": "10. Defendant Dynegy, Inc. (hereinafter \"Dynegy\") is a Houston, Texas\nbased public corporation doing business in the state of California as Dynegy\nMarketing and Trade.", "path": "kean-s/all_documents/2072."}, "s150": {"from": "richard.sanders@enron.com", "to": "gfergus@brobeck.com", "subject": "RE: FW: ANNOUNCEMENT: Notice of Press Conference today", "text": "electricity which is ultimately sold to California consumers, including\nplaintiff and the class, and is a WSCC member.  Southern Energy operates six\nelectricity generating plants in California which supply wholesale\nelectricity to the California Power Exchange.\n10. Defendant Dynegy, Inc. (hereinafter \"Dynegy\") is a Houston, Texas\nbased public corporation doing business in the state of California as Dynegy\nMarketing and Trade. It is a generator and trader of wholesale electricity\nwhich is ultimately sold to California consumers, including plaintiff and\nthe class, and is a WSCC member.  Dynegy operates two electricity generating\npower plants in California which supply wholesale electricity to the\nCalifornia Power Exchange.\n 11.  Defendant NRG Energy, Inc. (hereinafter \"NRG\") is a Minneapolis,\nMinnesota based public corporation doing business in the state of California", "clipped": true, "phrase": "10. Defendant Dynegy, Inc. (hereinafter \"Dynegy\") is a Houston, Texas\nbased public corporation doing business in the state of California as Dynegy\nMarketing and Trade.", "path": "sanders-r/all_documents/1041."}, "s155": {"from": "richard.sanders@enron.com", "to": "mark.haedicke@enron.com", "subject": "RE: FW: ANNOUNCEMENT: Notice of Press Conference today", "text": "PAMELA R. GORDON, on behalf of ) Case No.\nherself and all others similarly situated, )\n       ) CLASS ACTION\nCOMPLAINT FOR\n) VIOLATIONS OF CALIFORNIA\nPlaintiff,  ) BUSINESS AND PROFESSIONS CODE\n) oo16720, ET SEQ. AND oo17200 ET SEQ.\nvs.     ) ANTITRUST and UNFAIR\nBUSINESS\n) PRACTICES\nRELIANT ENERGY, INC.; SOUTHERN )\nCOMPANY; NRG ENERGY; DYNEGY,  )\nINC.; AES CORPORATION; WILLIAMS )\nENERGY; DUKE ENERGY NORTH )\nAMERICA; and  DOES 1 through 100,  )\nInclusive     )\n)\nDefendants.  )\n___________________________________  )\n\n  TABLE OF CONTENTS\n\nI. NATURE OF THE CASE 1\n\nII. VENUE 2\n\nIII. PARTIES 2\n\nIV. CLASS ACTION ALLEGATIONS 5\n\nV. COMMON ALLEGATIONS OF FACT 6\n\nA. The California Wholesale Electricity Markets 6\n\nB. Defendants' Improper Acts 8\n\nC. Results of Defendants' Activities 13\n\nFIRST CAUSE OF ACTION 15\nViolation of Sections 16720 and 16726 of the California Business and\nProfessions", "clipped": true, "phrase": "RELIANT ENERGY, INC.; SOUTHERN )\nCOMPANY; NRG ENERGY; DYNEGY,  )\nINC.; AES CORPORATION; WILLIAMS )\nENERGY; DUKE ENERGY NORTH )\nAMERICA; and  DOES 1 through 100,", "path": "sanders-r/all_documents/1042."}, "s159": {"from": "richard.sanders@enron.com", "to": "mark.haedicke@enron.com", "subject": "Lawsuit Filed In San Diego Vs Enron For Power Mkt Abuses", "text": "(Copyright (c) 2000, Dow Jones & Company, Inc.)\n\nLOS ANGELES -(Dow Jones)- A second lawsuit is being filed in San Diego \nSuperior Court Wednesday against Enron alleging the company, and others, \novercharged California consumers more than $4 billion for electricity \nservice. \nOn Monday, a similar suit was filed against Dynegy Inc. (DYN), Reliant Energy \nInc. (REI), Duke Energy North America (DUK), Southern Energy Company (SO), \nAES Corp., Williams Energy and NRG Energy. Both lawsuits are seeking class \naction status and may be consolidated into one complaint. \nThe complaints allege unfair trade practices and illegal trust activity. A \nnews conference announcing the details of the lawsuit will be held Wednesday \nmorning in San Diego.\nEnron does not own or operate major generating units in the state, but is \nactive in trading electricity here and securing long-term fixed rate", "clipped": true, "phrase": "On Monday, a similar suit was filed against Dynegy Inc. (DYN), Reliant Energy \nInc. (REI), Duke Energy North America (DUK), Southern Energy Company (SO), \nAES Corp., Williams Energy and NRG Energy.", "path": "sanders-r/all_documents/1043."}, "s160": {"from": "richard.sanders@enron.com", "to": "mark.haedicke@enron.com", "subject": "Lawsuit Filed In San Diego Vs Enron For Power Mkt Abuses", "text": "contracts for large industrial customers. At times, Enron sells power back \ninto the California Power Exchange, the market where power is bought and sold \nin the state. \nAn Enron representative said he has not yet seen the lawsuit and was unable \nto comment. \nThe lawsuits claim Enron and the other energy companies withheld power supply \nlast summer, created shortages by selling power out of state and used \nreal-time confidential data about power plant activity to drive up prices. \nThe lawsuits are an attempt to force generators to refund about $4 billion \nfor electricity, the amount consumers were allegedly overcharged. -By Jason \nLeopold; Dow Jones Newswires; 323-658-XXXX;\njason.leopold@dowjones.com\n\nCopyright , 2000 Dow Jones & Company, Inc. All Rights Reserved.", "clipped": true, "phrase": "The lawsuits claim Enron and the other energy companies withheld power supply \nlast summer, created shortages by selling power out of state and used \nreal-time confidential data about power plant activity to drive up prices.", "path": "sanders-r/all_documents/1043."}, "s161": {"from": "richard.sanders@enron.com", "to": "mark.haedicke@enron.com", "subject": "Lawsuit Filed In San Diego Vs Enron For Power Mkt Abuses", "text": "to comment. \nThe lawsuits claim Enron and the other energy companies withheld power supply \nlast summer, created shortages by selling power out of state and used \nreal-time confidential data about power plant activity to drive up prices. \nThe lawsuits are an attempt to force generators to refund about $4 billion \nfor electricity, the amount consumers were allegedly overcharged. -By Jason \nLeopold; Dow Jones Newswires; 323-658-XXXX;\njason.leopold@dowjones.com\n\nCopyright , 2000 Dow Jones & Company, Inc. All Rights Reserved.", "clipped": true, "phrase": "The lawsuits are an attempt to force generators to refund about $4 billion \nfor electricity, the amount consumers were allegedly overcharged.", "path": "sanders-r/all_documents/1044."}, "s165": {"from": "richard.sanders@enron.com", "to": "cedric.burgher@enron.com", "subject": "RE: FW: ANNOUNCEMENT: Notice of Press Conference today", "text": "and chief executive officer, Charles 'Chuck' Watson.  Other defendants also\nobtained large windfall profits during this period.\n49. Prior to deregulation, the historical cost to produce a megawatt\nhour of electricity in San Diego County was approximately $23-45 per MWh.\nDuring the Summer of 2000, defendants' conduct caused the Real Time Market\nprice of wholesale electricity to frequently reach $750 per MWh, resulting\nin an approximate tripling of SDG&E customers' bills.\n50. In its Order issued on November 1, 2000, FERC concluded that\nwholesale prices of electricity in California had been at \"unjust and\nunreasonable\" levels during the Summer of 2000. CAISO and CPUC responses to\nthe November 1st FERC order both concluded that wholesale prices during\nSummer 2000 were due to a substantial exercise of market power by generators\nand traders.\n 51. Plaintiffs and the class were injured by the manipulated and", "clipped": true, "phrase": "During the Summer of 2000, defendants' conduct caused the Real Time Market\nprice of wholesale electricity to frequently reach $750 per MWh, resulting\nin an approximate tripling of SDG&amp;E customers' bills.", "path": "sanders-r/all_documents/1046."}, "s166": {"from": "ann.schmidt@enron.com", "to": "mark.palmer@enron.com, karen.denne@enron.com, meredith.philipp@enron.com,   \tsteven.kean@enron.com, elizabeth.linnell@enron.com,   \teric.thode@enron.com, laura.schwartz@enron.com,   \tjeannie.mandelker@enron.com, mary.clark@enron.com,   \tdam", "subject": "Enron Mentions", "text": "Planned Enron Plants Jolts Japan Power Industry - Nikkei\nDow Jones International News, 11/29/00\n\nUSA: Enron's Skilling sees demise of integrated energy firms.\nReuters English News Service, 11/29/00\n\nPUC Approves Plan for New Power Company to Supply Energy to PECO Customers\nPR Newswire, 11/29/00\n\nPG&E, Sempra, Morgan Stanley Defendants In Calif Lawsuit\nDow Jones Energy Service, 11/29/00\n\nAlberta Cancels Power Deregulation, Continue to Set Prices\nBloomberg, 11/29/00\n\nEnron Plans to Seek Approval for Power Plant in Northern Japan\nBloomberg, 11/29/00\n\nPlanned Enron Plants Jolts Japan Power Industry - Nikkei\n\n11/29/2000\nDow Jones International News\n(Copyright (c) 2000, Dow Jones & Company, Inc.)\n\nTOKYO (Nikkei)--Enron Corp. unveiled plans Wednesday to have subsidiary \nE-Power KK build a liquefied natural gas -fueled power plant with an output \ncapacity of 2 million kilowatts in Aomori Prefect", "clipped": true, "phrase": "The complaint names as defendants PG&amp;E Energy Trading, a unit of PG&amp;E Corp. \n(PCG), Dynegy Power Marketing Inc. (DYN), Morgan Stanley Capital Group Inc., \nEnron Energy Services and Enron Power Marketing Inc (ENE)", "path": "kean-s/all_documents/2081."}, "s199": {"from": "gfergus@brobeck.com", "to": "apickens@gibbs-bruns.com, breasoner@gibbs-bruns.com, rconner@brobeck.com,   \tdjn@pkns.com, jfrizzell@gibbs-bruns.com, pmeringolo@brobeck.com,   \tdcastro@pkns.com, msmith1@enron.com, mmolland@brobeck.com,   \trichard.b.sanders@enron.com, robe", "subject": "CCSF  City Attorney's Office  People v. Dynegy", "text": "FYI.\nWill provide conformed copy once we receive it.\nThanks.\nGary\n\n http://www.ci.sf.ca.us/cityattorney/sfenergy.htm\n <<CCSF  City Attorney's Office  People v. Dynegy.url>>\n\n=======================================================\nThis email message is for the sole use of the intended recipient(s) and may \ncontain confidential and privileged information. Any unauthorized review, \nuse, disclosure or distribution is prohibited. If you are not the intended \nrecipient, please contact the sender by reply email and destroy all copies of \nthe original message.\n\nTo reply to our email administrator directly, send an email to \npostmaster@brobeck.com\nBROBECK PHLEGER & HARRISON LLP\nhttp://www.brobeck.com\n\n - CCSF  City Attorney's Office  People v. Dynegy.url", "clipped": false, "phrase": "CCSF  City Attorney's Office  People v. Dynegy", "path": "sanders-r/all_documents/1326."}, "s201": {"from": "richard.sanders@enron.com", "to": "becky.stephens@enron.com", "subject": "RE: Lawsuit Filed In San Diego Vs Enron For Power Mkt Abuses", "text": "Becky Stephens@ENRON\n01/24/2001 07:35 AM\n\nTo:   Steve C Hall/PDX/ECT@ECT\ncc:\n\nSubject:  Re: Lawsuit Filed In San Diego Vs Enron For Power Mkt Abuses\n        (Document link: Steve C Hall)\n\nSteve, I have received notice of service in a lawsuit styled:  The People\nof the State of California, etc. v. Dynegy Power Marketing, Inc., et al.\n(including Enron Power Marketing, Inc. and Enron Energy Services, Inc.)\nthat was filed in the California Supreme Court, County of San Francisco\n(#318189).  I know that this is not in San Diego, but wanted to make sure\nthat it was not the lawsuit that you were tracking earlier.  It is a\ncomplaint for unfair, unlawful and deceptive trade practices regarding the\nderegulation of the California electric power industry.  Let me know if you", "clipped": true, "phrase": "of the State of California, etc. v. Dynegy Power Marketing, Inc., et al.", "path": "sanders-r/all_documents/1358."}, "s202": {"from": "richard.sanders@enron.com", "to": "becky.stephens@enron.com", "subject": "RE: Lawsuit Filed In San Diego Vs Enron For Power Mkt Abuses", "text": "(including Enron Power Marketing, Inc. and Enron Energy Services, Inc.)\nthat was filed in the California Supreme Court, County of San Francisco\n(#318189).  I know that this is not in San Diego, but wanted to make sure\nthat it was not the lawsuit that you were tracking earlier.  It is a\ncomplaint for unfair, unlawful and deceptive trade practices regarding the\nderegulation of the California electric power industry.  Let me know if you\nthink it is the same.  thanks, Becky\nBecky A. Stephens\nLitigation Unit, Enron Corp.\n713/853-XXXX\n713/853-XXXX fax\nEB4809\n\n                    Steve C\n\n                    Hall@ECT            To:\n\n                                        cc:\n\n                    11/29/2000          Subject:      (Document link: Becky\nStephens)\n                    04:25 PM\n\nYes, please do.", "clipped": true, "phrase": "complaint for unfair, unlawful and deceptive trade practices regarding the", "path": "sanders-r/all_documents/1358."}, "s224": {"from": "richard.sanders@enron.com", "to": "mmolland@brobeck.com", "subject": "Subpoena Requiring March 5 Response", "text": "02/20/2001 04:33 PM\n\t\n\nSent by: \"Happ, Susan\" <SHapp@caiso.com>\nTo: ISO Market Participants \n<IMCEAEX-_O=CAISO_OU=CORPORATE_CN=DISTRIBUTION+20LISTS_CN=ISO+20MARKET+20PARTI\nCIPANTS@caiso.com>\ncc:  \nSubject: Subpoena Requiring March 5 Response\n\nTo Market Participants and Scheduling Coordinators:\n\nThe ISO received a subpoena requiring a response by March 5, from the\nPlaintiff in People of the State of California vs Dynegy Power Marketing,\nInc., et al, a proceeding in the San Francisco Superior Court Civil\nDivision.  The subpoena is attached.  The ISO intends to seek a protective\norder prior to disclosure of information subject to ISO tariff section\n20.3.2.  Market participants wishing to take steps to seek protections for\nconfidential information in accordance with tariff section 20.3.4 should\ndirectly contact Mr. Patrick J. Coughlin, attorney for the Plaintiff, at\n415-288-XXXX and notify Jeanne Sol, at jsole@caiso.com and Norma Formanek at", "clipped": true, "phrase": "The ISO received a subpoena requiring a response by March 5, from the\nPlaintiff in People of the State of California vs Dynegy Power Marketing,\nInc., et al, a proceeding in the San Francisco Superior Court Civil\nDivision.", "path": "sanders-r/all_documents/1525."}, "s225": {"from": "richard.sanders@enron.com", "to": "tim.belden@enron.com", "subject": "Re: Subpoena Requiring March 5 Response", "text": "02/20/2001 04:33 PM\n\t\n\nSent by: \"Happ, Susan\" <SHapp@caiso.com>\nTo: ISO Market Participants \n<IMCEAEX-_O=CAISO_OU=CORPORATE_CN=DISTRIBUTION+20LISTS_CN=ISO+20MARKET+20PARTI\nCIPANTS@caiso.com>\ncc:  \nSubject: Subpoena Requiring March 5 Response\n\nTo Market Participants and Scheduling Coordinators:\n\nThe ISO received a subpoena requiring a response by March 5, from the\nPlaintiff in People of the State of California vs Dynegy Power Marketing,\nInc., et al, a proceeding in the San Francisco Superior Court Civil\nDivision.  The subpoena is attached.  The ISO intends to seek a protective\norder prior to disclosure of information subject to ISO tariff section\n20.3.2.  Market participants wishing to take steps to seek protections for\nconfidential information in accordance with tariff section 20.3.4 should\ndirectly contact Mr. Patrick J. Coughlin, attorney for the Plaintiff, at\n415-288-XXXX and notify Jeanne Sol, at jsole@caiso.com and Norma Formanek at", "clipped": true, "phrase": "The ISO received a subpoena requiring a response by March 5, from the\nPlaintiff in People of the State of California vs Dynegy Power Marketing,\nInc., et al, a proceeding in the San Francisco Superior Court Civil\nDivision.", "path": "sanders-r/all_documents/1526."}, "s240": {"from": "pmeringolo@brobeck.com", "to": "richard.b.sanders@enron.com", "subject": "Status of Duke Energy v. State and ISO v. Reliant et al.", "text": "under the Emergency Services Act when he commandeered Duke's long-term\ncontracts.\n\n The case is suspended until an April 30 hearing.  I am trying to\nobtain a copy of any order and/or stipulation filed with the Court.\n\nISO v. Reliant, et al.\n\n I.  Brief Summary of Complaint\n\n In ISO v. Reliant, et al., ISO seeks a preliminary injunction to\nrequire six Reliant entities, Williams Energy Marketing & Trading, four AES\nentities, and Dynegy Power Corporation (collectively, \"Defendants\") to\nprovide generation in response to ISO's emergency dispatch instructions.\n\n ISO's sole allegation is that because Defendants submitted to the\nISO Tariff by participating in the ISO markets and by entering into\nScheduling Coordinator Agreements and Participating Generator Agreements,\nDefendants cannot refuse to generate in response to an emergency dispatch\norder.  This allegation is based upon section 5.6.1 of the Tariff.\n\n II.  Current Status of the Case -- February 23, 2001 Stipulation", "clipped": true, "phrase": "In ISO v. Reliant, et al., ISO seeks a preliminary injunction to\nrequire six Reliant entities, Williams Energy Marketing &amp; Trading, four AES\nentities, and Dynegy Power Corporation (collectively, \"Defendants\") to\nprovide generation in response to ISO's emergency dispatch instructions.", "path": "sanders-r/all_documents/1570."}, "s254": {"from": "richard.sanders@enron.com", "to": "james.steffes@enron.com, tim.belden@enron.com, richard.shapiro@enron.com,   \telizabeth.sager@enron.com, christian.yoder@enron.com,   \ttravis.mccullough@enron.com, sbishop@gibbs-bruns.com", "subject": "Status of Duke Energy v. State and ISO v. Reliant et al.", "text": "contracts.\n\n The case is suspended until an April 30 hearing.  I am trying to\nobtain a copy of any order and/or stipulation filed with the Court.\n\nISO v. Reliant, et al.\n\n I.  Brief Summary of Complaint\n\n In ISO v. Reliant, et al., ISO seeks a preliminary injunction to\nrequire six Reliant entities, Williams Energy Marketing & Trading, four AES\nentities, and Dynegy Power Corporation (collectively, \"Defendants\") to\nprovide generation in response to ISO's emergency dispatch instructions.\n\n ISO's sole allegation is that because Defendants submitted to the\nISO Tariff by participating in the ISO markets and by entering into\nScheduling Coordinator Agreements and Participating Generator Agreements,\nDefendants cannot refuse to generate in response to an emergency dispatch", "clipped": true, "phrase": "ISO seeks a preliminary injunction to\nrequire six Reliant entities, Williams Energy Marketing &amp; Trading, four AES\nentities, and Dynegy Power Corporation", "path": "sanders-r/all_documents/1572."}, "s241": {"from": "pmeringolo@brobeck.com", "to": "richard.b.sanders@enron.com", "subject": "Status of Duke Energy v. State and ISO v. Reliant et al.", "text": "order.  This allegation is based upon section 5.6.1 of the Tariff.\n\n II.  Current Status of the Case -- February 23, 2001 Stipulation\n\nOn February 23, 2001, the parties entered a stipulation, which states, in\nrelevant part:\n\n   The Reliant Defendants, Williams, and Dynegy\n(collectively \"Generator Defendants\") will comply with emergency dispatch\norders of the California ISO under the terms of the ISO tariff without\nregard to whether ISO allocates the cost of power produced in response to\nsuch a dispatch order to a creditworthy Scheduling Coorindator until the\nearlier of the following:\n\n   (a) 5:00 p.m. Pacific Standard Time on March 19,\n2001, or\n\n   (b) two business days (but in no event less than 48\nhours) after written notice to this Court and the parties by a Generator\nDefendant that this stipulated obligation is terminated as to it.", "clipped": true, "phrase": "The Reliant Defendants, Williams, and Dynegy\n(collectively \"Generator Defendants\") will comply with emergency dispatch\norders of the California ISO under the terms of the ISO tariff without", "path": "sanders-r/all_documents/1570."}, "s242": {"from": "pmeringolo@brobeck.com", "to": "richard.b.sanders@enron.com", "subject": "Status of Duke Energy v. State and ISO v. Reliant et al.", "text": "orders of the California ISO under the terms of the ISO tariff without\nregard to whether ISO allocates the cost of power produced in response to\nsuch a dispatch order to a creditworthy Scheduling Coorindator until the\nearlier of the following:\n\n   (a) 5:00 p.m. Pacific Standard Time on March 19,\n2001, or\n\n   (b) two business days (but in no event less than 48\nhours) after written notice to this Court and the parties by a Generator\nDefendant that this stipulated obligation is terminated as to it.\n\n   3. Notice of termination by a Generator Defendant of\nits obligation under paragraph 2(b) shall not affect the stipulated\nobligations or remaining Generator Defendants except that, on receipt of\nsuch notice, each remaining Generator Defendant shall have the right to file\nwith the Court an election terminating its obligation. In the event of such", "clipped": true, "phrase": "(a) 5:00 p.m. Pacific Standard Time on March 19,\n2001, or\n\n   (b) two business days (but in no event less than 48\nhours) after written notice to this Court", "path": "sanders-r/all_documents/1570."}, "s255": {"from": "richard.sanders@enron.com", "to": "james.steffes@enron.com, tim.belden@enron.com, richard.shapiro@enron.com,   \telizabeth.sager@enron.com, christian.yoder@enron.com,   \ttravis.mccullough@enron.com, sbishop@gibbs-bruns.com", "subject": "Status of Duke Energy v. State and ISO v. Reliant et al.", "text": "II.  Current Status of the Case -- February 23, 2001 Stipulation\n\nOn February 23, 2001, the parties entered a stipulation, which states, in\nrelevant part:\n\n   The Reliant Defendants, Williams, and Dynegy\n(collectively \"Generator Defendants\") will comply with emergency dispatch\norders of the California ISO under the terms of the ISO tariff without\nregard to whether ISO allocates the cost of power produced in response to\nsuch a dispatch order to a creditworthy Scheduling Coorindator until the\nearlier of the following:\n\n   (a) 5:00 p.m. Pacific Standard Time on March 19,\n2001, or\n\n   (b) two business days (but in no event less than 48\nhours) after written notice to this Court and the parties by a Generator\nDefendant that this stipulated obligation is terminated as to it.\n\n   3. Notice of termination by a Generator Defendant of\nits obligation under paragraph 2(b) shall not affect the stipulated", "clipped": true, "phrase": "will comply with emergency dispatch\norders of the California ISO under the terms of the ISO tariff without\nregard to whether ISO allocates the cost of power produced in response to\nsuch a dispatch order to a creditworthy Scheduling Coorindator", "path": "sanders-r/all_documents/1572."}, "s246": {"from": "pmeringolo@brobeck.com", "to": "richard.b.sanders@enron.com", "subject": "Status of Duke Energy v. State and ISO v. Reliant et al.", "text": "> and comments suggest that he believes that the amount of energy subject to\n> the EDO's is small and necessary to avert rolling black-outs.  He\n> questioned Mr. Detmer, manager of operation of ISO, who suggested that\n> about 5% of purchases at peak are made through EDOs.\n>\n>  Judge Damrell was not very sympathetic towards Dynegy's argument,\n> asking \"Are you was saying that DWR, ISO and the State are the cause of\n> the crisis?\"  Several times, Judge Damrell stated that he thought the high\n> wholesale prices caused the crisis.  According to Judge Damrell, \"the\n> simple fact is, you got rich, and the utilities went broke.\"  Also, as\n> noted above, Judge Damrell does not believe that waiting for FERC to make\n> decisions is the proper course in the current energy crisis because FERC\n> does not act quickly enough.\n>\n>  C.  DWR's Motion to Dismiss 3rd Party Complaint", "clipped": true, "phrase": "Judge Damrell was not very sympathetic towards Dynegy's argument,\n&gt; asking \"Are you was saying that DWR, ISO and the State are the cause of\n&gt; the crisis?\"", "path": "sanders-r/all_documents/1570."}, "s257": {"from": "richard.sanders@enron.com", "to": "james.steffes@enron.com, tim.belden@enron.com, richard.shapiro@enron.com,   \telizabeth.sager@enron.com, christian.yoder@enron.com,   \ttravis.mccullough@enron.com, sbishop@gibbs-bruns.com", "subject": "Status of Duke Energy v. State and ISO v. Reliant et al.", "text": "> and comments suggest that he believes that the amount of energy subject to\n> the EDO's is small and necessary to avert rolling black-outs.  He\n> questioned Mr. Detmer, manager of operation of ISO, who suggested that\n> about 5% of purchases at peak are made through EDOs.\n>\n>  Judge Damrell was not very sympathetic towards Dynegy's argument,\n> asking \"Are you was saying that DWR, ISO and the State are the cause of\n> the crisis?\"  Several times, Judge Damrell stated that he thought the high\n> wholesale prices caused the crisis.  According to Judge Damrell, \"the\n> simple fact is, you got rich, and the utilities went broke.\"  Also, as\n> noted above, Judge Damrell does not believe that waiting for FERC to make\n> decisions is the proper course in the current energy crisis because FERC", "clipped": true, "phrase": "Judge Damrell was not very sympathetic towards Dynegy's argument,", "path": "sanders-r/all_documents/1572."}, "s247": {"from": "pmeringolo@brobeck.com", "to": "richard.b.sanders@enron.com", "subject": "Status of Duke Energy v. State and ISO v. Reliant et al.", "text": "> to energy crisis, ISO cannot wait for FERC to decide this issue.\n>\n>  Analysis:  Judge Damrell appeared very skeptical of Reliant's\n> interpretation of the Order.  He asked, \"If FERC intended that the\n> creditworthy requirements apply to EDO, why didn't it address it head-on,\n> especially because the importance of this issue was raised by Dynegy\n> before FERC?\"  He questioned Reliant about several sentences in the Order\n> which suggest that FERC explicitly did not decide the issue.\n>\n>  Judge Damrell is unlikely to stay the proceedings.  He stated that\n> the exigencies of the situation are such that he perhaps he should not\n> wait for FERC to rule.  He made several comments about how long it takes\n> FERC to act, and that the Federal Courts should step in times of crisis\n> such as this.\n>", "clipped": true, "phrase": "especially because the importance of this issue was raised by Dynegy\n&gt; before FERC?\"", "path": "sanders-r/all_documents/1570."}, "s256": {"from": "richard.sanders@enron.com", "to": "james.steffes@enron.com, tim.belden@enron.com, richard.shapiro@enron.com,   \telizabeth.sager@enron.com, christian.yoder@enron.com,   \ttravis.mccullough@enron.com, sbishop@gibbs-bruns.com", "subject": "Status of Duke Energy v. State and ISO v. Reliant et al.", "text": "> assurances that they would be selling to a creditworthy purchaser because\n> (1) the creditworthy requirement is an essential element of the Tariff;\n> and (2) a 2/14/01 FERC Order held that the creditworthy requirement\n> applies even EDOs.\n>\n>  Dynegy raised an additional argument -- ISO and DWR are using the\n> EDO procedures to get a price below market and that there is no real\n> threat that the lights will go out.  According to Dynegy, DWR can back\n> real time purchases including EDOs, but instead DWR backs only purchases\n> at a certain price below market.  If generators refuse, ISO issues an EDO,\n> with no assurances that the generators will get paid, as a strong arm\n> tactic to get this below market price.  Dynegy argued that the reality is\n> that the lights will not go out because if generators do not abide by the", "clipped": true, "phrase": "Dynegy raised an additional argument -- ISO and DWR are using the\n&gt; EDO procedures to get a price below market and that there is no real\n&gt; threat that the lights will go out.", "path": "sanders-r/all_documents/1572."}, "s258": {"from": "richard.sanders@enron.com", "to": "james.steffes@enron.com, tim.belden@enron.com, richard.shapiro@enron.com,   \telizabeth.sager@enron.com, christian.yoder@enron.com,   \ttravis.mccullough@enron.com, sbishop@gibbs-bruns.com", "subject": "Status of Duke Energy v. State and ISO v. Reliant et al.", "text": "> to energy crisis, ISO cannot wait for FERC to decide this issue.\n>\n>  Analysis:  Judge Damrell appeared very skeptical of Reliant's\n> interpretation of the Order.  He asked, \"If FERC intended that the\n> creditworthy requirements apply to EDO, why didn't it address it head-on,\n> especially because the importance of this issue was raised by Dynegy\n> before FERC?\"  He questioned Reliant about several sentences in the Order\n> which suggest that FERC explicitly did not decide the issue.\n>\n>  Judge Damrell is unlikely to stay the proceedings.  He stated that\n> the exigencies of the situation are such that he perhaps he should not\n> wait for FERC to rule.  He made several comments about how long it takes\n> FERC to act, and that the Federal Courts should step in times of crisis\n> such as this.\n>", "clipped": true, "phrase": "especially because the importance of this issue was raised by Dynegy\n&gt; before FERC?", "path": "sanders-r/all_documents/1572."}, "s249": {"from": "susan.mara@enron.com", "to": "alan.comnes@enron.com, angela.schwarz@enron.com, beverly.aden@enron.com,   \tbill.votaw@enron.com, brenda.barreda@enron.com,   \tcarol.moffett@enron.com, cathy.corbin@enron.com,   \tchris.foster@enron.com, christina.liscano@enron.com,   \tchris", "subject": "Power producers accused of gouging -- Rumored ISO Report Comes out", "text": "accurate, but the requests have been denied. The power suppliers filed some \nof the documents to FERC, Sheffrin said.\n\nDuring December and January, power producers had to provide FERC with monthly \nreports if their charges to the state exceeded thresholds. \n\nThe ISO did not identify the power generators it accuses of improper pricing. \nNot including the utilities themselves, the major power suppliers in \nCalifornia are Reliant Energy Inc. of Houston, Duke Energy of Charlotte, \nN.C., Mirant Inc. of Atlanta, Dynegy Inc. of Houston and Calpine Corp. of San \nJose.\n\nAlso on Wednesday, Bloomberg News reported that Gov. Gray Davis plans to ask \npower generators to accept partial payment for power sold to the state's \ncash-strapped utilities.", "clipped": true, "phrase": "The ISO did not identify the power generators it accuses of improper pricing.", "path": "kean-s/all_documents/5702."}, "s264": {"from": "steven.kean@enron.com", "to": "joe.hartsoe@enron.com", "subject": "Energy Issues", "text": "the early days of the state's foray into deregulation. \nBecause of that divesture, much of California's power is controlled by \nout-of-state generators and their trading subsidiaries, or by independent \nbrokers such as Enron, the country's biggest electricity marketer. \nIn recent months, at least five class-action lawsuits have accused these \ncompanies of manipulating and inflating electricity prices, either by \nintentionally shutting down plants or by buying natural gas cheaply and using \nit to generate electricity sold at a several-hundred-percent markup. \nOn Thursday, the nonprofit corporation that manages most of the state's \nelectric grid revealed data that could support claims of price gouging. \nIn a filing with federal regulators, the Independent System Operator said the", "clipped": true, "phrase": "at least five class-action lawsuits have accused these \ncompanies of manipulating and inflating electricity prices", "path": "kean-s/all_documents/5685."}, "s276": {"from": "richard.sanders@enron.com", "to": "awu@quinnemanuel.com", "subject": "Re: ISO Withholding Payment", "text": "1\nPay-out Ratio 3.05%\n\nOutstanding Balance (net of GMC & other      adjustments)\n$1,444,652,782.25\n\nGrid Management Charge Obligations (\"GMC\"):\n  Bonneville Power Administration * $83.01  $0.00  $83.01\n  British Columbia Power Exchange * $278,212.68  $0.00  $278,212.68\n\n  Dynegy  * $35,963.06  $0.00  $35,963.06\n  Illinova ** $4,011.80  $0.00  $4,011.80\n  New Energy * $50,605.46  $0.00  $50,605.46\n  Puget Sound * $101,783.73  $0.00  $101,783.73\n  Seattle City Power & Light * $7,116.22  $0.00  $7,116.22\n  Southern California Edison ** $114,022.63  $0.00  $114,022.63\nNon Defaulting Parties: All Others $14,873,312.81  $14,873,312.81\n$0.00\nSubtotal $15,465,111.40  $14,873,312.81  $591,798.59\n\nTotal, Market and GMC Receivable $1,518,651,321.61", "clipped": true, "phrase": "Dynegy  * $35,963.06  $0.00  $35,963.06", "path": "sanders-r/all_documents/1628."}, "s287": {"from": "dan.wall@lw.com", "to": "nnissen@mdbe.com, jalexander@gibbs-bruns.com, gallen@bakerbotts.com,   \tbbailey@duke-energy.com, james.beh@troutmansanders.com,   \tpeter.benzian@lw.com, bestorg@dsmo.com, erik.bliss@lw.com,   \tjtbrooks@luce.com, heather.brown@williams.com, ", "subject": "Report on POWER Conference", "text": "Joskow and Kahn:  http://www.mit.edu/people/pjoskow/JK_PaperREVISED.pdf\n(paper);  http://www.ucei.berkeley.edu/ucei/conf2001/Slides/Kahn_Slides.pdf\n(Kahn's slides).   I'm sure many of you have already read this; everyone\nshould.  Prepared for SoCal Edison, it contends that 4 in-state generators\n(Reliant, Dynegy, AES/Williams, and Southern/Mirant) exercised market power\nby withholding capacity during the summer or 2000.\n\nJ&K use publicly available data on loads, market prices and generation to\n(a) quantify combined effects of \"market fundamentals\" on market prices, (b)\ncalculate \"price gap\" (difference between actual prices and \"competitive\"\nmarket benchmarks), (c) account for quantify effects of ISO's ancillary\nservices requirements and forced outages, and then (d) calculate the \"output\ngap\" for high priced hours, meaning the difference between observed and", "clipped": true, "phrase": "Prepared for SoCal Edison, it contends that 4 in-state generators\n(Reliant, Dynegy, AES/Williams, and Southern/Mirant) exercised market power\nby withholding capacity during the summer or 2000.", "path": "sanders-r/all_documents/1721."}, "s288": {"from": "dan.wall@lw.com", "to": "nnissen@mdbe.com, jalexander@gibbs-bruns.com, gallen@bakerbotts.com,   \tbbailey@duke-energy.com, james.beh@troutmansanders.com,   \tpeter.benzian@lw.com, bestorg@dsmo.com, erik.bliss@lw.com,   \tjtbrooks@luce.com, heather.brown@williams.com, ", "subject": "Report on POWER Conference", "text": "market benchmarks), (c) account for quantify effects of ISO's ancillary\nservices requirements and forced outages, and then (d) calculate the \"output\ngap\" for high priced hours, meaning the difference between observed and\nmaximum profitable levels of generation.  They conclude that prices were far\nin excess of the competitive benchmark and that the 4 in-state generators\ncould have produced more power at competitive prices but chose not to.\nHence, market power was exercised.\n\nKahn, the Analysis Group economist who presented, is a very colorful and\nrather undisciplined advocate of his position.  He threw around allegations\nof conspiracy rather casually, but mostly to be funny.  I couldn't tell\nwhether he believed his study proved that; I don't think it even speaks to\nit.  But Bernstein and Himmelstein applauded him when he finished, grinning\near to ear.", "clipped": true, "phrase": "They conclude that prices were far\nin excess of the competitive benchmark and that the 4 in-state generators\ncould have produced more power at competitive prices but chose not to.", "path": "sanders-r/all_documents/1721."}, "s305": {"from": "suzanne_nimocks@mckinsey.com", "to": "skean@enron.com", "subject": "California Power Crisis Update (No. 10)", "text": "simply ignore emergency orders,\" Robinson said.\n      Damrell's preliminary injunction will remain in effect until the\n      Federal Energy\n      Regulatory Commission rules on the matter.\n      Damrell denied the ISO's request for preliminary injunctions against\n      three other\n      wholesalers - Dynegy Inc. (DYN), AES Corp. (AES) and Williams Cos.\n      (WMB) - which\n      agreed to continue selling to the ISO pending the FERC ruling.\n      Spokesmen for Reliant, Dynegy, AES and Williams were out of the\n      office Wednesday\n      night and didn't immediately return calls from The Associated Press\n      seeking\n      comment on the ruling.\n      The ISO went to court in February after a federal emergency order\n      requiring the", "clipped": true, "phrase": "wholesalers - Dynegy Inc. (DYN), AES Corp. (AES) and Williams Cos.", "path": "kean-s/all_documents/5405."}, "s292": {"from": "dwatkiss@bracepatt.com", "to": "randy_mcmanus@bakerbotts.com, perlism@dsmo.com, joel.newton@dynegy.com,   \trichard.b.sanders@enron.com, agoldberg@lgl.twc.com,   \tjames.beh@troutmansanders.com", "subject": "Fwd: Strategy for Transferring Class Actions to FERC", "text": "---------------------- Forwarded by Joel Newton/HOU/Dynegy on 03/27/2001\n11:34 AM ---------------------------\n\nJoel Newton\n03/27/2001 10:12 AM\n\nTo:   Dwadkiss@bracepatt.com, rmcmanus@bakerbotts.com\ncc:\n\nSubject:  Strategy for Transferring Class Actions to FERC\n\nDan and Randy:\n\nDynegy is interested in working with you in this effort.  After hearing\nback from Wiliams, Duke and Mirant, perhaps we should all set up a meeting\nto coordinatre our efforts with our FERC and legislative teams.  Please let\nme know how I can help.\n\nJoel\n\n\"Jeffrey Watkiss\" <dwatkiss@bracepatt.com> on 03/26/2001 12:03:05 PM\n\nTo:   <joel.newton@dynegy.com>\ncc:   <Randy_McManus@bakerbotts.com>\n\nSubject:  Strategy for Transferring Class Actions to FERC", "clipped": true, "phrase": "Dynegy is interested in working with you in this effort.", "path": "sanders-r/all_documents/1726."}, "s294": {"from": "dwatkiss@bracepatt.com", "to": "randy_mcmanus@bakerbotts.com, perlism@dsmo.com, joel.newton@dynegy.com,   \trichard.b.sanders@enron.com, agoldberg@lgl.twc.com,   \tjames.beh@troutmansanders.com", "subject": "Fwd: Strategy for Transferring Class Actions to FERC", "text": "To:   <joel.newton@dynegy.com>\ncc:   <Randy_McManus@bakerbotts.com>\n\nSubject:  Strategy for Transferring Class Actions to FERC\n\n(Sorry, Joel, I forgot the attachment last go around.)  Joel, in the\nattached talking points, Randy McManus and I set out a White House and\nDOE/FERC strategy for causing FERC to weigh in with the U.S. District Court\nbefore which are pending the class action suits against our clients.  The\npoint would be to have FERC (1) oppose the motions to remand to state court\nand (2) support referral from the U.S. District Court to FERC, both on\ngrounds of either primary or exclusive jurisdiction under the Power Act.\n\nWe are trying to put togehter a group to advocate this strategy.\nPresently, I am in contact with Williams, Duke and Mirant, in addition to\nyou and Randy (on behalf of Reliant).  Once this group starts coming", "clipped": true, "phrase": "DOE/FERC strategy for causing FERC to weigh in with the U.S. District Court\nbefore which are pending the class action suits against our clients.", "path": "sanders-r/all_documents/1726."}, "s295": {"from": "dwatkiss@bracepatt.com", "to": "randy_mcmanus@bakerbotts.com, perlism@dsmo.com, joel.newton@dynegy.com,   \trichard.b.sanders@enron.com, agoldberg@lgl.twc.com,   \tjames.beh@troutmansanders.com", "subject": "Fwd: Strategy for Transferring Class Actions to FERC", "text": "11:34 AM ---------------------------\n\nJoel Newton\n03/27/2001 10:12 AM\n\nTo:   Dwadkiss@bracepatt.com, rmcmanus@bakerbotts.com\ncc:\n\nSubject:  Strategy for Transferring Class Actions to FERC\n\nDan and Randy:\n\nDynegy is interested in working with you in this effort.  After hearing\nback from Wiliams, Duke and Mirant, perhaps we should all set up a meeting\nto coordinatre our efforts with our FERC and legislative teams.  Please let\nme know how I can help.\n\nJoel\n\n\"Jeffrey Watkiss\" <dwatkiss@bracepatt.com> on 03/26/2001 12:03:05 PM\n\nTo:   <joel.newton@dynegy.com>\ncc:   <Randy_McManus@bakerbotts.com>\n\nSubject:  Strategy for Transferring Class Actions to FERC\n\n(Sorry, Joel, I forgot the attachment last go around.)  Joel, in the\nattached talking points, Randy McManus and I set out a White House and", "clipped": true, "phrase": "After hearing\nback from Wiliams, Duke and Mirant, perhaps we should all set up a meeting\nto coordinatre our efforts with our FERC and legislative teams.", "path": "sanders-r/all_documents/1726."}, "s302": {"from": "suzanne_nimocks@mckinsey.com", "to": "skean@enron.com", "subject": "California Power Crisis Update (No. 10)", "text": "find ways to\n      discipline the market, such as through the state attorney general's\n      office. The\n      attorney general has been investigating the state's electricity\n      market for many\n      months but hasn't brought any court action.\n      Dynegy Inc., a big owner of power plants in California, said it will\n      provide\n      additional information to FERC supporting its position that the\n      prices it has\n      charged for power have been \"just and reasonable.\" The Houston\n      company was one\n      of 13 energy suppliers that the FERC this month ordered to pay\n      refunds totaling\n      $124 million or \"show cause\" why it should be excused. Dynegy said\n      the FERC\n      analysis was flawed, because it used \"inaccurate\" prices for natural", "clipped": true, "phrase": "Dynegy Inc., a big owner of power plants in California, said it will", "path": "kean-s/all_documents/5405."}, "s303": {"from": "suzanne_nimocks@mckinsey.com", "to": "skean@enron.com", "subject": "California Power Crisis Update (No. 10)", "text": "Dynegy Inc., a big owner of power plants in California, said it will\n      provide\n      additional information to FERC supporting its position that the\n      prices it has\n      charged for power have been \"just and reasonable.\" The Houston\n      company was one\n      of 13 energy suppliers that the FERC this month ordered to pay\n      refunds totaling\n      $124 million or \"show cause\" why it should be excused. Dynegy said\n      the FERC\n      analysis was flawed, because it used \"inaccurate\" prices for natural\n      gas and\n      pollution credits.\n      While big power producers such as Dynegy came under attack, small\n      power\n      producers won a potentially significant victory in a state court in\n      Southern\n      California's Imperial County. A judge granted 10 geothermal plants\n      operated by", "clipped": true, "phrase": "of 13 energy suppliers that the FERC this month ordered to pay\n      refunds totaling\n      $124 million or \"show cause\" why it should be excused.", "path": "kean-s/all_documents/5405."}, "s304": {"from": "suzanne_nimocks@mckinsey.com", "to": "skean@enron.com", "subject": "California Power Crisis Update (No. 10)", "text": "prices it has\n      charged for power have been \"just and reasonable.\" The Houston\n      company was one\n      of 13 energy suppliers that the FERC this month ordered to pay\n      refunds totaling\n      $124 million or \"show cause\" why it should be excused. Dynegy said\n      the FERC\n      analysis was flawed, because it used \"inaccurate\" prices for natural\n      gas and\n      pollution credits.\n      While big power producers such as Dynegy came under attack, small\n      power\n      producers won a potentially significant victory in a state court in\n      Southern\n      California's Imperial County. A judge granted 10 geothermal plants\n      operated by\n      the CalEnergy Co. unit of MidAmerican Energy Holdings Co., a unit of\n      Berkshire", "clipped": true, "phrase": "analysis was flawed, because it used \"inaccurate\" prices for natural", "path": "kean-s/all_documents/5405."}, "s320": {"from": "miyung.buster@enron.com", "to": "california.group@enron.com", "subject": "Energy Issues", "text": "class-action lawsuit against the power companies.\n?????Just last month, California's independent grid operator reported that \nmany power sellers \"used well-planned strategies to ensure maximum possible \nprices.\" Potential overcharges could total nearly $6.3 billion. \n?????The Senate panel wants to track information that Dynegy and other \ngenerators were providing to the investment community in the 1990s as a \npossible way of determining whether they entered the California market with \nplans to run up electricity costs. Among many other things, the committee \nplans to seek internal projections of how the firms expected wholesale prices \nand profits to rise under deregulation. \n?????Members also want to know how the suppliers expected to recoup billions \nin outlays for California power plants being unloaded by regulated utilities.", "clipped": true, "phrase": "The Senate panel wants to track information that Dynegy and other \ngenerators were providing to the investment community in the 1990s", "path": "kean-s/all_documents/5333."}, "s323": {"from": "miyung.buster@enron.com", "to": "california.group@enron.com", "subject": "Energy Issues", "text": "the agency is buying on behalf of two retailers that are broke and hopelessly \nin debt. \nBecause Pacific Gas and Electric Co. and Southern California Edison can't pay \ntheir bills -- about $14 billion -- some wholesalers want to cut off sales to \nthe utilities. \nThe other three defendants in the ISO's suit -- Dynegy Power Corp. of Houston \nand Tulsa-based AES Corp. and its marketer, Williams Energy Marketing & \nTrading Co. -- have entered into written agreements with ISO to continue \nsupplying emergency power until the FERC decides whether they are required to \nsell to companies that are not creditworthy. \nBut Charles Robinson, ISO general counsel, points out that the generators can \nrescind those agreements with 48 hours' notice. \n\"My hope is this is a temporary setback,\" said Robinson. He added, however, \nthat the practical effect is \"at least for now, we don't have a tool to \ncompel them to do what we believe they're obligated to do\" -- respond to", "clipped": true, "phrase": "The other three defendants in the ISO's suit -- Dynegy Power Corp. of Houston \nand Tulsa-based AES Corp. and its marketer, Williams Energy Marketing &amp; \nTrading Co. -- have entered into written agreements with ISO to continue \nsupplying emergency power", "path": "kean-s/all_documents/5292."}, "s325": {"from": "jeff.dasovich@enron.com", "to": "alan.comnes@enron.com, angela.schwarz@enron.com, beverly.aden@enron.com,   \tbill.votaw@enron.com, brenda.barreda@enron.com,   \tcarol.moffett@enron.com, cathy.corbin@enron.com,   \tchris.foster@enron.com, christina.liscano@enron.com,   \tcraig", "subject": "Big generator can't be forced to sell emergency power to the state,   a U.S. court rules.", "text": "the agency is buying on behalf of two retailers that are broke and hopelessly \nin debt. \nBecause Pacific Gas and Electric Co. and Southern California Edison can't pay \ntheir bills -- about $14 billion -- some wholesalers want to cut off sales to \nthe utilities. \nThe other three defendants in the ISO's suit -- Dynegy Power Corp. of Houston \nand Tulsa-based AES Corp. and its marketer, Williams Energy Marketing & \nTrading Co. -- have entered into written agreements with ISO to continue \nsupplying emergency power until the FERC decides whether they are required to \nsell to companies that are not creditworthy. \nBut Charles Robinson, ISO general counsel, points out that the generators can \nrescind those agreements with 48 hours' notice. \n\"My hope is this is a temporary setback,\" said Robinson. He added, however, \nthat the practical effect is \"at least for now, we don't have a tool to \ncompel them to do what we believe they're obligated to do\" -- respond to", "clipped": true, "phrase": "The other three defendants in the ISO's suit -- Dynegy Power Corp. of Houston \nand Tulsa-based AES Corp. and its marketer, Williams Energy Marketing &amp; \nTrading Co. -- have entered into written agreements with ISO to continue \nsupplying emergency power", "path": "kean-s/all_documents/5291."}, "s326": {"from": "miyung.buster@enron.com", "to": "ann.schmidt@enron.com, bryan.seyfried@enron.com, dg27@pacbell.net,   \telizabeth.linnell@enron.com, filuntz@aol.com,   \tjames.steffes@enron.com, janet.butler@enron.com,   \tjeannie.mandelker@enron.com, jeff.dasovich@enron.com,   \tjoe.hartsoe@", "subject": "Energy Issues", "text": "their bills -- about $14 billion -- some wholesalers want to cut off sales to \nthe utilities. \nThe other three defendants in the ISO's suit -- Dynegy Power Corp. of Houston \nand Tulsa-based AES Corp. and its marketer, Williams Energy Marketing & \nTrading Co. -- have entered into written agreements with ISO to continue \nsupplying emergency power until the FERC decides whether they are required to \nsell to companies that are not creditworthy. \nBut Charles Robinson, ISO general counsel, points out that the generators can \nrescind those agreements with 48 hours' notice. \n\"My hope is this is a temporary setback,\" said Robinson. He added, however, \nthat the practical effect is \"at least for now, we don't have a tool to \ncompel them to do what we believe they're obligated to do\" -- respond to \nemergency demands for power.", "clipped": true, "phrase": "have entered into written agreements with ISO to continue \nsupplying emergency power until the FERC decides whether they are required to \nsell to companies that are not creditworthy.", "path": "kean-s/all_documents/5275."}, "s324": {"from": "miyung.buster@enron.com", "to": "california.group@enron.com", "subject": "Energy Issues", "text": "Trading Co. -- have entered into written agreements with ISO to continue \nsupplying emergency power until the FERC decides whether they are required to \nsell to companies that are not creditworthy. \nBut Charles Robinson, ISO general counsel, points out that the generators can \nrescind those agreements with 48 hours' notice. \n\"My hope is this is a temporary setback,\" said Robinson. He added, however, \nthat the practical effect is \"at least for now, we don't have a tool to \ncompel them to do what we believe they're obligated to do\" -- respond to \nemergency demands for power. \nReliant has insisted since the suit was filed Feb. 6 that Damrell has no \njurisdiction over the rate schedules that govern dealings between generators", "clipped": true, "phrase": "the generators can \nrescind those agreements with 48 hours' notice.", "path": "kean-s/all_documents/5292."}, "s327": {"from": "jeff.dasovich@enron.com", "to": "richard.sanders@enron.com, gfergus@brobeck.com, christian.yoder@enron.com,   \tjames.steffes@enron.com, richard.shapiro@enron.com,   \tpaul.kaufman@enron.com, susan.mara@enron.com,   \tsandra.mccubbin@enron.com, skean@enron.com, karen.denne@en", "subject": "Conversation with Dynegy--Privileged and Confidential", "text": "Got a call from Dynegy.  Culled the following:\n\nBankruptcy\nDynegy will be fighting for a seat at the creditor table, since PG&E's filing \nfailed (said Dynegy) to include a substantial amount of Dynegy receivables \nstemming from gas sales.\n\nLegislative investigation into wholesale power markets\nThe request they received from the legislative committee (Dunn?) looking into \nwholesale prices included 86 questions, including:\nEvery bid made into ISO/PX markets since day 1.\nEvery document showing every forecast of energy prices done by the company.\nEvery document regarding bids for utility power plants leading up to \ndivestiture.", "clipped": true, "phrase": "Dynegy will be fighting for a seat at the creditor table, since PG&amp;E's filing \nfailed (said Dynegy) to include a substantial amount of Dynegy receivables \nstemming from gas sales.", "path": "kean-s/all_documents/5268."}, "s328": {"from": "jeff.dasovich@enron.com", "to": "richard.sanders@enron.com, gfergus@brobeck.com, christian.yoder@enron.com,   \tjames.steffes@enron.com, richard.shapiro@enron.com,   \tpaul.kaufman@enron.com, susan.mara@enron.com,   \tsandra.mccubbin@enron.com, skean@enron.com, karen.denne@en", "subject": "Conversation with Dynegy--Privileged and Confidential", "text": "failed (said Dynegy) to include a substantial amount of Dynegy receivables \nstemming from gas sales.\n\nLegislative investigation into wholesale power markets\nThe request they received from the legislative committee (Dunn?) looking into \nwholesale prices included 86 questions, including:\nEvery bid made into ISO/PX markets since day 1.\nEvery document showing every forecast of energy prices done by the company.\nEvery document regarding bids for utility power plants leading up to \ndivestiture.\nEvery document regarding communications with any other generator/trade \nassociation.\n\nIn a meeting with Dunn last week, he told Dynegy that the committee will \nthoroughly investigate whether there's been market manipulation.  If there's", "clipped": true, "phrase": "wholesale prices included 86 questions, including:\nEvery bid made into ISO/PX markets since day 1.", "path": "kean-s/all_documents/5268."}, "s329": {"from": "jeff.dasovich@enron.com", "to": "richard.sanders@enron.com, gfergus@brobeck.com, christian.yoder@enron.com,   \tjames.steffes@enron.com, richard.shapiro@enron.com,   \tpaul.kaufman@enron.com, susan.mara@enron.com,   \tsandra.mccubbin@enron.com, skean@enron.com, karen.denne@en", "subject": "Conversation with Dynegy--Privileged and Confidential", "text": "Every bid made into ISO/PX markets since day 1.\nEvery document showing every forecast of energy prices done by the company.\nEvery document regarding bids for utility power plants leading up to \ndivestiture.\nEvery document regarding communications with any other generator/trade \nassociation.\n\nIn a meeting with Dunn last week, he told Dynegy that the committee will \nthoroughly investigate whether there's been market manipulation.  If there's \nbeen none, no one has anything to worry about, and the committee would then \nmove on to examine whether \"the market is dysfunctional.\"\n\nThe first hearings (this Wednesday and next) will examine all of the other \ninvestigations currently underway (e.g., CPUC, ISO, FERC, class action suit, \nAG (uncertain).\n\nThe generators will be up first (on the 25th, as it currently stands), \nfollowed by marketers, followed by the munis.", "clipped": true, "phrase": "In a meeting with Dunn last week, he told Dynegy that the committee will \nthoroughly investigate whether there's been market manipulation.", "path": "kean-s/all_documents/5268."}, "s330": {"from": "jeff.dasovich@enron.com", "to": "richard.sanders@enron.com, gfergus@brobeck.com, christian.yoder@enron.com,   \tjames.steffes@enron.com, richard.shapiro@enron.com,   \tpaul.kaufman@enron.com, susan.mara@enron.com,   \tsandra.mccubbin@enron.com, skean@enron.com, karen.denne@en", "subject": "Conversation with Dynegy--Privileged and Confidential", "text": "move on to examine whether \"the market is dysfunctional.\"\n\nThe first hearings (this Wednesday and next) will examine all of the other \ninvestigations currently underway (e.g., CPUC, ISO, FERC, class action suit, \nAG (uncertain).\n\nThe generators will be up first (on the 25th, as it currently stands), \nfollowed by marketers, followed by the munis.\n\nThe committee is requesting that the generators send their CEOs---rumors \n(perhaps far-fetched) that the committee wants to set it up like the \ncongressional tobacco hearings.", "clipped": true, "phrase": "The generators will be up first (on the 25th, as it currently stands), \nfollowed by marketers, followed by the munis.", "path": "kean-s/all_documents/5268."}, "s331": {"from": "jeff.dasovich@enron.com", "to": "richard.sanders@enron.com, gfergus@brobeck.com, christian.yoder@enron.com,   \tjames.steffes@enron.com, richard.shapiro@enron.com,   \tpaul.kaufman@enron.com, susan.mara@enron.com,   \tsandra.mccubbin@enron.com, skean@enron.com, karen.denne@en", "subject": "Conversation with Dynegy--Privileged and Confidential", "text": "The first hearings (this Wednesday and next) will examine all of the other \ninvestigations currently underway (e.g., CPUC, ISO, FERC, class action suit, \nAG (uncertain).\n\nThe generators will be up first (on the 25th, as it currently stands), \nfollowed by marketers, followed by the munis.\n\nThe committee is requesting that the generators send their CEOs---rumors \n(perhaps far-fetched) that the committee wants to set it up like the \ncongressional tobacco hearings.", "clipped": true, "phrase": "The committee is requesting that the generators send their CEOs---rumors", "path": "kean-s/all_documents/5268."}, "s332": {"from": "michael.tribolet@enron.com", "to": "steven.kean@enron.com, richard.shapiro@enron.com, rick.buy@enron.com,   \twilliam.bradford@enron.com, richard.shapiro@enron.com,   \tjames.steffes@enron.com, karen.denne@enron.com,   \tlisa.mellencamp@enron.com, vicki.sharp@enron.com,   \ttravi", "subject": "Composition of unsecured creditors committee", "text": "Please see appointment list attached below:\n\nKES Kingsburg L.P. (QF?)\nCity of Palo Alto (pension holdings?)\nEnron Corp & Affiliates\nState of Tennessee (pension holdings?)\nDynegy Power Marketing, Inc.\nThe Davey Tree Co. (vendor)\nGWF Power Systems (QF)\nU.S. Bank (Trustee on PCB's)\nMerrill Lynch (CP holder?)\nThe Bank of New York (Bond Trustee)\nBank of America (Agent on revolver)\n\n -----Original Message-----\nFrom:  \"Johnson, Stephen\" <Stephen.Johnson2@usdoj.gov>@ENRON \n[mailto:IMCEANOTES-+22Johnson+2C+20Stephen+22+20+3CStephen+2EJohnson2+40usdoj+\n2Egov+3E+40ENRON@ENRON.com] \nSent: Tuesday, April 10, 2001 7:52 PM\nTo: Johnson, Stephen; 'jmhpower@aol.com'; \n'grant_kolling@city.palo-alto.ca.us'; Tribolet, Michael; \n'tmilne@mail.state.tn.us'; 'john.c.herbert@dynegy.com'; \n'david.adante@davey.com'; 'pmar@mofo.com'; 'keith.marshall@usbank.com'; \n'mlurie@exchange.ml.com'; 'gbush@bankofny.com'; \n'cla", "clipped": true, "phrase": "Enron Corp &amp; Affiliates\nState of Tennessee (pension holdings?)\nDynegy Power Marketing, Inc.", "path": "kean-s/all_documents/5227."}, "s333": {"from": "steven.kean@enron.com", "to": "mark.koenig@enron.com", "subject": "Composition of unsecured creditors committee", "text": "byoung@llgm.com@SMTP@enronXgate, jlhuemoe@llgm.com@SMTP@enronXgate \n\nSubject: Composition of unsecured creditors committee\n\nPlease see appointment list attached below:\n\nKES Kingsburg L.P. (QF?)\nCity of Palo Alto (pension holdings?)\nEnron Corp & Affiliates\nState of Tennessee (pension holdings?)\nDynegy Power Marketing, Inc.\nThe Davey Tree Co. (vendor)\nGWF Power Systems (QF)\nU.S. Bank (Trustee on PCB's)\nMerrill Lynch (CP holder?)\nThe Bank of New York (Bond Trustee)\nBank of America (Agent on revolver)\n\n -----Original Message-----\nFrom:  \"Johnson, Stephen\" <Stephen.Johnson2@usdoj.gov>@ENRON \n[mailto:IMCEANOTES-+22Johnson+2C+20Stephen+22+20+3CStephen+2EJohnson2+40usdoj+\n2Egov+3E+40ENRON@ENRON.com] \nSent: Tuesday, April 10, 2001 7:52 PM\nTo: Johnson, Stephen; 'jmhpower@aol.com';", "clipped": true, "phrase": "State of Tennessee (pension holdings?)\nDynegy Power Marketing, Inc.\nThe Davey Tree Co. (vendor)", "path": "kean-s/all_documents/5226."}, "s334": {"from": "michael.tribolet@enron.com", "to": "steven.kean@enron.com, richard.shapiro@enron.com, james.steffes@enron.com,   \tmark.koenig@enron.com, karen.denne@enron.com, rick.buy@enron.com,   \twilliam.bradford@enron.com", "subject": "FW: Enron", "text": "Presented below is a synopsis of the 6.75 hour phone call yesterday.   The \nprimary short-term issue facing us is whether we wish to throw our name in to \nbe co-chair.    The only other marketer on the official committee is Dynegy, \nReliant is not on the committee but sat in.    The group generally agreed \nthat the co-chairs should be a financial player (bank, bond or CP) and an \nenergy company (QF or marketer).   After the phone call, I spoke with \nDynegy's general counsel John Herbert, who is their designated \nrepresentative.  He was going to check within his organization whether there \nwas appetite to serve today, but was not all that inclined, given his \"day", "clipped": true, "phrase": "The only other marketer on the official committee is Dynegy, \nReliant is not on the committee but sat in.", "path": "kean-s/all_documents/5213."}, "s336": {"from": "michael.tribolet@enron.com", "to": "steven.kean@enron.com, richard.shapiro@enron.com, james.steffes@enron.com,   \tmark.koenig@enron.com, karen.denne@enron.com, rick.buy@enron.com,   \twilliam.bradford@enron.com", "subject": "FW: Enron", "text": "that the co-chairs should be a financial player (bank, bond or CP) and an \nenergy company (QF or marketer).   After the phone call, I spoke with \nDynegy's general counsel John Herbert, who is their designated \nrepresentative.  He was going to check within his organization whether there \nwas appetite to serve today, but was not all that inclined, given his \"day \njob\" as he put it.   I think we would agree that a marketer should be the \nother co-chair as the QF's have a narrow agenda.  Here are some of the \nplusses and minuses if we threw our name in:\n\n+ Better access to information and guiding consensus\n+ Ability to explain the necessity of long term contracts in the solution\n- time commitment\n- will we be more of a lightning rod?\n\nRegards,\n\nMichael\n\n -----Original Message-----", "clipped": true, "phrase": "He was going to check within his organization whether there \nwas appetite to serve today, but was not all that inclined, given his \"day \njob\" as he put it.", "path": "kean-s/all_documents/5213."}, "s339": {"from": "michael.tribolet@enron.com", "to": "steven.kean@enron.com, richard.shapiro@enron.com, james.steffes@enron.com,   \tmark.koenig@enron.com, karen.denne@enron.com, rick.buy@enron.com,   \twilliam.bradford@enron.com", "subject": "FW: Enron", "text": "- they recommended that the Committee retain a PR firm.\n\nAfter PGE's counsel departed, the Committee turned to organizational issues.\n\nClara Yang Strand of B of A offered to serve as Co-chair.  The Committee \ndiscussed having one of the generators serve as the other co-chair.  Enron is \nthinking about it, as is Dynegy.  During breaks, both Palo Alto and GWF Power \n(a QF) told me they would support Enron to be co-chair.\n\nThe Committee then discussed counsel retention.  A number of firms were \ndiscussed.  Enron suggested Milbank; other members, particularly the QF's, \nobjected because of Milbank's prior representation of the PX.  Eventually a \nshort list was arrived at of Sheppard Mullin; Paul Hastings; Sidley & Austin;", "clipped": true, "phrase": "Enron is \nthinking about it, as is Dynegy.", "path": "kean-s/all_documents/5213."}, "s337": {"from": "michael.tribolet@enron.com", "to": "steven.kean@enron.com, richard.shapiro@enron.com, james.steffes@enron.com,   \tmark.koenig@enron.com, karen.denne@enron.com, rick.buy@enron.com,   \twilliam.bradford@enron.com", "subject": "FW: Enron", "text": "After they got off the line, the creditors each explained their claim as \nfollows:\n\nOhio State Teachers:  $56M of commercial paper (CP)\nB of A: $938M syndicated loan and a letter of credit supporting pollution \ncontrol bonds\nReliant: generator owed $358M\nDynegy: generator owed $255M\nCrockett: QF owed $55M\nGWF Power: non-gas fired QF owed $60M\nMerrill Lynch: holder of CP and unsecured bonds, but declined to state amount \nat this time\nMeriant: generator owed $220M\nBONY: indenture trustee owed $2 bn\nState of Tennessee: CP holder, owed $76M\nDavey Tree: trade vendor (tree trimming) owed $10M\nUS Bank: indenture trustee on 3 bond issues totalling $310M\nPalo Alto: party to contracts relating to WAPA and NCPA.  owed $50M, but", "clipped": true, "phrase": "Dynegy: generator owed $255M", "path": "kean-s/all_documents/5213."}, "s340": {"from": "miyung.buster@enron.com", "to": "ann.schmidt@enron.com, bryan.seyfried@enron.com, dg27@pacbell.net,   \telizabeth.linnell@enron.com, filuntz@aol.com,   \tjames.steffes@enron.com, janet.butler@enron.com,   \tjeannie.mandelker@enron.com, jeff.dasovich@enron.com,   \tjoe.hartsoe@", "subject": "Energy Issues", "text": "Wall Street to vendors providing goods and services to the utility.\n?????The committee members include companies that provided power but were not \npaid as PG&E's financial condition worsened--Enron Corp. ($580 million), \nDynegy Power Marketing ($255 million), KES Kingsburg L.P. ($182 million) and \nGWF Power Systems ($62 million).\n?????Also named to the committee were the Bank of New York ($2.2 billion), a \ngroup of banks headed by Bank of America ($1.175 billion), U.S. Bank ($310 \nmillion) and Merrill Lynch ($106 million).\n?????The only trade creditor represented on the committee is employee-owned \nDavey Tree Expert Co. of Kent, Ohio. Chief Financial Officer David Adante", "clipped": true, "phrase": "Dynegy Power Marketing ($255 million), KES Kingsburg L.P. ($182 million) and", "path": "kean-s/all_documents/5210."}, "s338": {"from": "michael.tribolet@enron.com", "to": "steven.kean@enron.com, richard.shapiro@enron.com, james.steffes@enron.com,   \tmark.koenig@enron.com, karen.denne@enron.com, rick.buy@enron.com,   \twilliam.bradford@enron.com", "subject": "FW: Enron", "text": "Content-Disposition: inline\n\nJohn, Carl and Jim,\n\nI attended the PGE Committee call today.  During the call, it became apparent \nthat a group of creditors were meeting in a law firm's office nearby.  I \ntherefore walked over and attended the meeting in person.  I learned that \nReliant, Dynegy and Meriant had been in the process of forming an ad hoc \ncommittee which they had invited Merrill Lynch, B of A and some of the QF's \nto join.  That unofficial committee had not gotten off the ground when the BK \nhit.\n\nAll of the official committee members were present either by phone or in \nperson.  Many had counsel present.  In addition, representatives of Reliant, \nMeriant (sp?), the Ohio State Teachers Ass'n and a QF called Crockett were \npermitted to attend.  Finally, representatives of PricewaterhouseCoopers,", "clipped": true, "phrase": "I learned that \nReliant, Dynegy and Meriant had been in the process of forming an ad hoc \ncommittee which they had invited Merrill Lynch, B of A and some of the QF's \nto join.", "path": "kean-s/all_documents/5213."}, "s355": {"from": "steven.kean@enron.com", "to": "tom.briggs@enron.com", "subject": "Energy Issues", "text": "?????Feinstein has been among those critical of natural gas companies, saying \nthey appear to have constricted access to a California-bound pipeline to run \nup prices.\n?????The Brattle Group, a respected consulting firm, alleged Wednesday before \nan Assembly committee that Dynegy Inc. and El Paso Natural Gas Co. had \nmanipulated the market by charging so much for the rights to their pipeline \ncapacity that they had, in effect, withheld access to it.\n?????That action, the experts said, directly forced companies trying to \ndeliver gas to California to look for alternatives, clogging other pipelines \nand causing a surge in prices.\n?????The explanation, El Paso executives said, was simple: Demand for gas \nsoared in California because generators that use gas to make electricity \nincreased production last year in response to the energy crisis.", "clipped": true, "phrase": "an Assembly committee that Dynegy Inc. and El Paso Natural Gas Co. had \nmanipulated the market by charging so much for the rights to their pipeline \ncapacity that they had, in effect, withheld access to it.", "path": "kean-s/all_documents/5147."}, "s356": {"from": "jeff.dasovich@enron.com", "to": "alan.comnes@enron.com, angela.schwarz@enron.com, beverly.aden@enron.com,   \tbill.votaw@enron.com, brenda.barreda@enron.com,   \tcarol.moffett@enron.com, cathy.corbin@enron.com,   \tchris.foster@enron.com, christina.liscano@enron.com,   \tcraig", "subject": "Legislative Status Report Week Ending 4/20", "text": "Frank Wolak, Chairman Market Surveillance Committee, CAISO; Eric\nHildebrandt, Manager Market Monitoring, CAISO; and, Elaine Howle, State\nAuditor.\n\n--  The Assembly Electricity Oversight Subcommittee met this week and\nfocused on the issue of natural gas collusion. Testifying before the\ncommittee were representatives from Dynegy and El Paso, commenting on the\nrise of natural gas prices and whether illegal market manipulation and\ncollusion occurred.  The subcommittee plans on putting together a package of\nbills related to natural gas issues, which would be the culmination of the\ncommittee\u0001,s hearings over the last two months.  This package will be up for\nconsideration first by the whole special Assembly Energy committee.\n\n-- Governor Davis came out this week supporting the construction of the\nCalpine Metcalf Energy Center, the 600-megawatt power plant proposed for the", "clipped": true, "phrase": "Testifying before the\ncommittee were representatives from Dynegy and El Paso, commenting on the\nrise of natural gas prices and whether illegal market manipulation and\ncollusion occurred.", "path": "kean-s/all_documents/5140."}, "s369": {"from": "jeff.dasovich@enron.com", "to": "richard.shapiro@enron.com, skean@enron.com, james.steffes@enron.com,   \tpaul.kaufman@enron.com, leslie.lawner@enron.com,   \tjoe.hartsoe@enron.com, rob.bradley@enron.com,   \tjanel.guerrero@enron.com, karen.denne@enron.com,   \talan.comnes@enr", "subject": "Some Background on California Gas Price Spikes--The Other Side of   the Story", "text": "power plants).  Edison \"arranged\" for the Brattle Group to be the star \nwitness at the Cal Leg gas hearing.  Their job was to set up El Paso and \nDynegy for the hit at hearings that took place the following day.  Their \nmessage was simple (and simplistic):\n\nEl Paso and Dynegy have market power.\nThey have used the market power to drive up basis and thus the price of gas \nat the border (to \"obscene\" levels).\nThat, in turn, has driven up electricity prices.\n\nKen Lay is giving a gas talk tomorrow, and Rob Bradley asked that I provide \nthe alternative view to the Edison/Brattle rant, in the event that he gets \nany questions on the topic.  It's attached.  Apologies, it's quick and dirty, \nbut it provides the basics.\n\nObviously no need for us to defend El Paso or Dynegy, but might be useful to", "clipped": true, "phrase": "El Paso and Dynegy have market power.\nThey have used the market power to drive up basis and thus the price of gas \nat the border (to \"obscene\" levels).", "path": "kean-s/all_documents/5124."}, "s375": {"from": "stanley.horton@enron.com", "to": "steven.kean@enron.com", "subject": "Re: Some Background on California Gas Price Spikes--The Other Side   of the Story", "text": "power plants).  Edison \"arranged\" for the Brattle Group to be the star \nwitness at the Cal Leg gas hearing.  Their job was to set up El Paso and \nDynegy for the hit at hearings that took place the following day.  Their \nmessage was simple (and simplistic):\n\nEl Paso and Dynegy have market power.\nThey have used the market power to drive up basis and thus the price of gas \nat the border (to \"obscene\" levels).\nThat, in turn, has driven up electricity prices.\n\nKen Lay is giving a gas talk tomorrow, and Rob Bradley asked that I provide \nthe alternative view to the Edison/Brattle rant, in the event that he gets \nany questions on the topic.  It's attached.  Apologies, it's quick and dirty, \nbut it provides the basics.", "clipped": true, "phrase": "El Paso and Dynegy have market power.", "path": "kean-s/all_documents/5100."}, "s370": {"from": "jeff.dasovich@enron.com", "to": "richard.shapiro@enron.com, skean@enron.com, james.steffes@enron.com,   \tpaul.kaufman@enron.com, leslie.lawner@enron.com,   \tjoe.hartsoe@enron.com, rob.bradley@enron.com,   \tjanel.guerrero@enron.com, karen.denne@enron.com,   \talan.comnes@enr", "subject": "Some Background on California Gas Price Spikes--The Other Side of   the Story", "text": "The Brattle Group is a consulting firm that Edison has long used to beat up \non SoCalGas (recall that Edison used to be a big gas customer when it owned \npower plants).  Edison \"arranged\" for the Brattle Group to be the star \nwitness at the Cal Leg gas hearing.  Their job was to set up El Paso and \nDynegy for the hit at hearings that took place the following day.  Their \nmessage was simple (and simplistic):\n\nEl Paso and Dynegy have market power.\nThey have used the market power to drive up basis and thus the price of gas \nat the border (to \"obscene\" levels).\nThat, in turn, has driven up electricity prices.\n\nKen Lay is giving a gas talk tomorrow, and Rob Bradley asked that I provide \nthe alternative view to the Edison/Brattle rant, in the event that he gets", "clipped": true, "phrase": "Their job was to set up El Paso and \nDynegy for the hit at hearings that took place the following day.", "path": "kean-s/all_documents/5124."}, "s378": {"from": "shelley.corman@enron.com", "to": "stanley.horton@enron.com, steven.kean@enron.com", "subject": "RE: Some Background on California Gas Price Spikes--The Other Side   of the Story", "text": "The Brattle Group is a consulting firm that Edison has long used to beat up \non SoCalGas (recall that Edison used to be a big gas customer when it owned \npower plants).  Edison \"arranged\" for the Brattle Group to be the star \nwitness at the Cal Leg gas hearing.  Their job was to set up El Paso and \nDynegy for the hit at hearings that took place the following day.  Their \nmessage was simple (and simplistic):\n\nEl Paso and Dynegy have market power.\nThey have used the market power to drive up basis and thus the price of gas \nat the border (to \"obscene\" levels).\nThat, in turn, has driven up electricity prices.\n\nKen Lay is giving a gas talk tomorrow, and Rob Bradley asked that I provide \nthe alternative view to the Edison/Brattle rant, in the event that he gets", "clipped": true, "phrase": "Their job was to set up El Paso and \nDynegy for the hit at hearings that took place the following day.", "path": "kean-s/all_documents/5086."}, "s372": {"from": "jeff.dasovich@enron.com", "to": "rob.bradley@enron.com", "subject": "Re: Some Background on California Gas Price Spikes--The Other Side   of the Story", "text": "access to evidence\n(GD 4/23).\n\nCritics of the pipeline industry have already suffered one setback in their \ncase. The commission\nrecently dismissed the CPUC\u0001,s claim that El Paso rigged the auction of a \nlarge block of\npipeline capacity in favor of affiliate El Paso Merchant Energy. In \naddressing the California\nAssembly, representatives of Dynegy said that FERC\u0001,s recent ruling on the \nCalifornia border\ncontroversy obviated the need for more investigation.\n\nThe controversy, however, is far from over. FERC last month also ordered a \nhearing into\nwhether El Paso Natural Gas and its affiliates manipulated capacity to drive \nup the price of gas\ndelivered into California (GD 3/29). That hearing is likely to take place \nthis summer. (RP00-\n241, et al.) NH\n\n\tRob Bradley\n\t04/25/2001 09:13 AM\n\t\t\n\t\t To: Jeff Dasovich/NA/Enron@Enron\n\t\t cc: Alan Comnes/PDX/ECT@ECT, James D Steffes/NA/Enron@Enron, Janel", "clipped": true, "phrase": "In \naddressing the California\nAssembly, representatives of Dynegy said that FERC\u0001,s recent ruling on the \nCalifornia border\ncontroversy obviated the need for more investigation.", "path": "kean-s/all_documents/5117."}, "s377": {"from": "jeff.dasovich@enron.com", "to": "alan.comnes@enron.com, angela.schwarz@enron.com, beverly.aden@enron.com,   \tbill.votaw@enron.com, brenda.barreda@enron.com,   \tcarol.moffett@enron.com, cathy.corbin@enron.com,   \tchris.foster@enron.com, christina.liscano@enron.com,   \tcraig", "subject": "CA Legislative Committee Hearing on California Border Gas Prices", "text": "Critics of the pipeline industry have already suffered one setback in their \ncase. The commission\nrecently dismissed the CPUC\u0001,s claim that El Paso rigged the auction of a \nlarge block of\npipeline capacity in favor of affiliate El Paso Merchant Energy. In \naddressing the California\nAssembly, representatives of Dynegy said that FERC\u0001,s recent ruling on the \nCalifornia border\ncontroversy obviated the need for more investigation.\n\nThe controversy, however, is far from over. FERC last month also ordered a \nhearing into\nwhether El Paso Natural Gas and its affiliates manipulated capacity to drive \nup the price of gas\ndelivered into California (GD 3/29). That hearing is likely to take place \nthis summer. (RP00-\n241, et al.) NH\n\n----- Forwarded by Jeff Dasovich/NA/Enron on 04/26/2001 05:23 PM -----\n\n\tDouglas.Porter@sce.com\n\t04/19/2001 11:36 AM", "clipped": true, "phrase": "representatives of Dynegy said that FERC\u0001,s recent ruling on the \nCalifornia border\ncontroversy obviated the need for more investigation.", "path": "kean-s/all_documents/5097."}, "s373": {"from": "jeff.dasovich@enron.com", "to": "rob.bradley@enron.com", "subject": "Re: Some Background on California Gas Price Spikes--The Other Side   of the Story", "text": "Subject: Re: Some Background on California Gas Price Spikes--The Other Side \nof the Story\n\nHere is the Q&A I will give to Ken on this topic, and I invite any \nimprovements:\n\nQuestion: \"What is your opinion about the study of the Brattle Group (Dr. \nPaul Carpenter) that market power exercised by El Paso and Dynegy exacerbated \nthe natural gas price spike at the California border that contributed to the \nelectricity price spike.\"\n\nAnswer:  \"I always discount conspiracy theories when prices rise or fall and \nbelieve fundamental forces of supply and demand explain prices in this \ninstance.  I will say, however, that the transmission grid must be more open \nand transparent to improve everyone's confidence in the economics behind \nprice formation.  Long term contracting in the wholesale commodity market \nshould also reduce speculation about price manipulation.\"\n\n- Rob", "clipped": true, "phrase": "market power exercised by El Paso and Dynegy exacerbated \nthe natural gas price spike at the California border that contributed to the \nelectricity price spike", "path": "kean-s/all_documents/5117."}, "s380": {"from": "steven.kean@enron.com", "to": "maureen.mcvicker@enron.com", "subject": "Re: Some Background on California Gas Price Spikes--The Other Side   of the Story", "text": "Ken Lay is giving a gas talk tomorrow, and Rob Bradley asked that I provide \nthe alternative view to the Edison/Brattle rant, in the event that he gets \nany questions on the topic.  It's attached.  Apologies, it's quick and dirty, \nbut it provides the basics.\n\nObviously no need for us to defend El Paso or Dynegy, but might be useful to \noffer a more rationale explanation than the one that the California \nLegislature is peddling.\n\nFinally, we were also fingered somewhat as culprits at the hearing (the \nCalifornia PUC FERC lawyer claimed that ENA and TW colluded to drive up basis \nwhen ENA controlled a portion of  the capacity), but the overriding goal of \nthe hearing was to go after EP and Dynegy.\n\nBest,\nJeff", "clipped": true, "phrase": "Obviously no need for us to defend El Paso or Dynegy, but might be useful to \noffer a more rationale explanation", "path": "kean-s/all_documents/5066."}, "s401": {"from": "henry.means@enron.com", "to": "", "subject": "Enron Mentions - 05/03/01", "text": "another 25% this year to $575 million, or $1.80 per share. But Dynegy hasn't \nbeen immune to the power crisis afflicting California, where it co-owns four \npower plants with NRG Energy Inc. of Minneapolis that generate 2,800 \nmegawatts of capacity. \nIndeed, since the crisis began, Dynegy's been defending itself against \nallegations that it's overcharging for power. \nThe California situation has hurt Dynegy in other ways, too. On April 6, for \nexample, its stock fell 5%, to $48.34, after utility Pacific Gas & Electric \nCo., a unit of PG&E Corp., filed for bankruptcy. (Dynegy provides power to \nthe California market as a wholesaler but not to PG&E directly.) \nDynegy has also been quibbling recently with another teetering California", "clipped": true, "phrase": "Indeed, since the crisis began, Dynegy's been defending itself against", "path": "kean-s/all_documents/5039."}, "s444": {"from": "jchen@brobeck.com", "to": "richard.b.sanders@enron.com", "subject": "Bustamante v. Dynegy", "text": "Attached please find the complaint for Bustamante v. Dynegy, et al.\n <<Bustamante v. Dynegy.cmplt.pdf>>\n\n=======================================================\nThis email message is for the sole use of the intended recipient(s) and may \ncontain confidential and privileged information. Any unauthorized review, \nuse, disclosure or distribution is prohibited. If you are not the intended \nrecipient, please contact the sender by reply email and destroy all copies of \nthe original message.\n\nTo reply to our email administrator directly, send an email to \npostmaster@brobeck.com\nBROBECK PHLEGER & HARRISON LLP\nhttp://www.brobeck.com\n\n - Bustamante v. Dynegy.cmplt.pdf", "clipped": false, "phrase": "Attached please find the complaint for Bustamante v. Dynegy, et al.", "path": "sanders-r/all_documents/1949."}, "s449": {"from": "michael.tribolet@enron.com", "to": "richard.shapiro@enron.com, james.steffes@enron.com,   \tharry.kingerski@enron.com, robert.neustaedter@enron.com,   \tchip.schneider@enron.com, lisa.mellencamp@enron.com,   \trichard.sanders@enron.com", "subject": "SF Chronicle article", "text": "demands for reliability, they're responsive to demands for profitability.\" \n\nCorporate denial \n\nReliant officials adamantly deny using this tactic or any other mechanism to \ngame the California energy market. They and other power companies, including \nAES Corp. and a partnership between NRG Energy Inc. and Dynegy Inc., have \nasserted that skyrocketing electricity demand forced them to run aging, \ndecrepit power plants harder than ever to meet California's needs. \n\nWhile acknowledging that the company issued changes in output levels as \nfrequently as every 10 minutes, company officials said it was done at the \ninstructions of the ISO to maintain supply-demand balance. \n\n\"As a part of routinely doing business within California and the California", "clipped": true, "phrase": "AES Corp. and a partnership between NRG Energy Inc. and Dynegy Inc., have", "path": "sanders-r/all_documents/2034."}, "s453": {"from": "richard.sanders@enron.com", "to": "sbishop@gibbs-bruns.com, gfergus@brobeck.com, mlk@pkns.com", "subject": "SF Chronicle article", "text": "demands for reliability, they're responsive to demands for profitability.\" \n\nCorporate denial \n\nReliant officials adamantly deny using this tactic or any other mechanism to \ngame the California energy market. They and other power companies, including \nAES Corp. and a partnership between NRG Energy Inc. and Dynegy Inc., have \nasserted that skyrocketing electricity demand forced them to run aging, \ndecrepit power plants harder than ever to meet California's needs. \n\nWhile acknowledging that the company issued changes in output levels as \nfrequently as every 10 minutes, company officials said it was done at the \ninstructions of the ISO to maintain supply-demand balance. \n\n\"As a part of routinely doing business within California and the California", "clipped": true, "phrase": "AES Corp. and a partnership between NRG Energy Inc. and Dynegy Inc., have", "path": "sanders-r/all_documents/2036."}, "s457": {"from": "michael.tribolet@enron.com", "to": "richard.shapiro@enron.com, james.steffes@enron.com,   \tharry.kingerski@enron.com, robert.neustaedter@enron.com,   \tchip.schneider@enron.com, lisa.mellencamp@enron.com,   \trichard.sanders@enron.com", "subject": "SF Chronicle article", "text": "Corporate denial \n\nReliant officials adamantly deny using this tactic or any other mechanism to game the California energy market. They and other power companies, including AES Corp. and a partnership between NRG Energy Inc. and Dynegy Inc., have asserted that skyrocketing electricity demand forced them to run aging, decrepit power plants harder than ever to meet California's needs. \n\nWhile acknowledging that the company issued changes in output levels as frequently as every 10 minutes, company officials said it was done at the instructions of the ISO to maintain supply-demand balance.", "clipped": true, "phrase": "They and other power companies, including AES Corp. and a partnership between NRG Energy Inc. and Dynegy Inc., have asserted that skyrocketing electricity demand forced them to run aging, decrepit power plants harder than ever", "path": "sanders-r/iso__pricecaps/454."}, "s452": {"from": "michael.tribolet@enron.com", "to": "richard.shapiro@enron.com, james.steffes@enron.com,   \tharry.kingerski@enron.com, robert.neustaedter@enron.com,   \tchip.schneider@enron.com, lisa.mellencamp@enron.com,   \trichard.sanders@enron.com", "subject": "SF Chronicle article", "text": "an operator who has worked at the El Segundo plant co-owned by NRG and Dynegy \nsaid the practice was used there, although less frequently. The scheduling \ncalls came from Dynegy's trading floor in Houston, rather than NRG in \nMinneapolis, he said. \n\nSteve Stengel, a spokesman for Dynegy, said changes in output at El Segundo \nwere a normal function of changing demand levels throughout the day, and \ndenied the company was engaged in gaming the California market. \n\nIn a May 2000 report, the California Energy Commission cited Reliant's \nEtiwanda plant, as well as the Alamitos and El Segundo plants, as some of the \n\"major beneficiaries of high real-time prices\" that spring. \n\nOne way to obtain those high prices, the plant workers said, was the simple", "clipped": true, "phrase": "Steve Stengel, a spokesman for Dynegy, said changes in output at El Segundo", "path": "sanders-r/all_documents/2034."}, "s456": {"from": "richard.sanders@enron.com", "to": "sbishop@gibbs-bruns.com, gfergus@brobeck.com, mlk@pkns.com", "subject": "SF Chronicle article", "text": "an operator who has worked at the El Segundo plant co-owned by NRG and Dynegy \nsaid the practice was used there, although less frequently. The scheduling \ncalls came from Dynegy's trading floor in Houston, rather than NRG in \nMinneapolis, he said. \n\nSteve Stengel, a spokesman for Dynegy, said changes in output at El Segundo \nwere a normal function of changing demand levels throughout the day, and \ndenied the company was engaged in gaming the California market. \n\nIn a May 2000 report, the California Energy Commission cited Reliant's \nEtiwanda plant, as well as the Alamitos and El Segundo plants, as some of the \n\"major beneficiaries of high real-time prices\" that spring. \n\nOne way to obtain those high prices, the plant workers said, was the simple", "clipped": true, "phrase": "Steve Stengel, a spokesman for Dynegy, said changes in output at El Segundo", "path": "sanders-r/all_documents/2036."}, "s459": {"from": "michael.tribolet@enron.com", "to": "richard.shapiro@enron.com, james.steffes@enron.com,   \tharry.kingerski@enron.com, robert.neustaedter@enron.com,   \tchip.schneider@enron.com, lisa.mellencamp@enron.com,   \trichard.sanders@enron.com", "subject": "SF Chronicle article", "text": "Steve Stengel, a spokesman for Dynegy, said changes in output at El Segundo were a normal function of changing demand levels throughout the day, and denied the company was engaged in gaming the California market. \n\nIn a May 2000 report, the California Energy Commission cited Reliant's Etiwanda plant, as well as the Alamitos and El Segundo plants, as some of the \"major beneficiaries of high real-time prices\" that spring. \n\nOne way to obtain those high prices, the plant workers said, was the simple method of demanding a sky-high price and refusing to deliver power if that price was not met.", "clipped": true, "phrase": "Steve Stengel, a spokesman for Dynegy, said changes in output at El Segundo were a normal function of changing demand levels throughout the day, and denied the company was engaged in gaming the California market.", "path": "sanders-r/iso__pricecaps/454."}, "s460": {"from": "jeff.dasovich@enron.com", "to": "alan.comnes@enron.com, angela.schwarz@enron.com, beverly.aden@enron.com,   \tbill.votaw@enron.com, brenda.barreda@enron.com,   \tcarol.moffett@enron.com, cathy.corbin@enron.com,   \tchris.foster@enron.com, christina.liscano@enron.com,   \tcraig", "subject": "CA Probe focuses on Dynegy, Mirant Plants", "text": "Kaplan <kaplan@iepa.com>, tcwillia@duke-energy.com, rwhyde@duke-energy.com, \ntmcmorrow@manatt.com, Suzy.L.Rodriguez@dynegy.com, ppitts@wiredworld1.com, \nmnobili@cal-lobby.com, sscsus@aol.com, kvellandi@pstrategies.com\n\t\t cc: \n\t\t Subject: CA Probe focuses on Dynegy, Mirant Plants\n\nCalif Probe Focuses On Dynegy,Mirant Plants-Commissioners     \nUpdated: Monday, May 21, 2001 05:28 PM\u0001;ET     \u0001; \n\u0001;\nBy Jason Leopold and Mark Golden \n\nOf DOW JONES NEWSWIRES \n\nLOS ANGELES (Dow Jones)--California officials are focusing an investigation \ninto the state's wholesale electricity markets on two power plants operated \nby two of the state's largest merchant power companies, Mirant Corp. (MIR, \nnews, msgs) and a joint venture between Dynegy Inc. (DYN, news, msgs) and NRG", "clipped": true, "phrase": "Calif Probe Focuses On Dynegy,Mirant Plants-Commissioners", "path": "kean-s/all_documents/4813."}, "s463": {"from": "jeff.dasovich@enron.com", "to": "alan.comnes@enron.com, angela.schwarz@enron.com, beverly.aden@enron.com,   \tbill.votaw@enron.com, brenda.barreda@enron.com,   \tcarol.moffett@enron.com, cathy.corbin@enron.com,   \tchris.foster@enron.com, christina.liscano@enron.com,   \tcraig", "subject": "CA Probe focuses on Dynegy, Mirant Plants", "text": "supposed to ramp up and down to meet demand, Dynegy spokesman Steve Stengell \nsaid. The plant is operated by NRG, but Dynegy markets the power from the \nplant and tells NRG how much power to generate based on what has been sold. \n\n\"We've done absolutely nothing to manipulate prices,\" Stengell said. \n\"Electricity demand increases and decreases throughout the day. Our \nproduction increases and decreases to follow changing demand. Ultimately, the \nISO determines the exact amount of dispatch.\" \n\nA spokesman for Attorney General William Lockyer declined to comment on the \nongoing investigation. \n\nCPUC President Loretta Lynch told California newspapers last week that her \noffice and that of Lockyer's have enough information to take legal action", "clipped": true, "phrase": "\"We've done absolutely nothing to manipulate prices,\" Stengell said.", "path": "kean-s/all_documents/4813."}, "s464": {"from": "jeff.dasovich@enron.com", "to": "alan.comnes@enron.com, angela.schwarz@enron.com, beverly.aden@enron.com,   \tbill.votaw@enron.com, brenda.barreda@enron.com,   \tcarol.moffett@enron.com, cathy.corbin@enron.com,   \tchris.foster@enron.com, christina.liscano@enron.com,   \tcraig", "subject": "CA Probe focuses on Dynegy, Mirant Plants", "text": "that generating units were ramped down even when the state's Independent \nSystem Operator had warned of tight supplies, according to one commissioner. \n\nAnd a senior NRG employee at the Encina power plant in Carlsbad told Dow \nJones Newswires that he was told by Dynegy's Houston trading floor to \"ramp \ndown\" the large 951-megawatt plant on at least 10 occasions when he knew \npower supplies were tight. \n\n\"We would be told to ramp down the units even when we knew the state needed \nthe megawatts,\" the employee said. \"Then the spot price would go up, but we \ndidn't really pay too much attention to that, because as far as we know \neverybody was doing this. We knew how much power other plants were operating", "clipped": true, "phrase": "Jones Newswires that he was told by Dynegy's Houston trading floor to \"ramp", "path": "kean-s/all_documents/4813."}, "s481": {"from": "mlk@pkns.com", "to": "richard.b.sanders@enron.com", "subject": "[Fwd: [Fwd: Senate Rules]]", "text": "today:\n\nSENATOR DUNN - AS CHAIR OF THE SELECT COMMITTEE TO\nINVESTIGATE PRICE MANIPULATION OF THE WHOLESALE\nENERGY MARKET, REQUEST AUTHORIZATION TO ISSUE\nSUBPOENAS FOR DOCUMENTS, AS FULLY DESCRIBED IN\nATTACHMENTS, TO THE FOLLOWING ENERGY ENTITIES:\n\nRELIANT ENERGY\nDYNEGY ENERGY SERVICES, INC.\nWILLIAMS ENERGY\nENRON CORPORATION\nNRG ENERGY, INC.\nDUKE ENERGY\nMIRANT, INC.\nAES CORPORATION\n\nSENATOR DUNN - AS CHAIR OF THE SELECT COMMITTEE TO\nINVESTIGATE PRICE MANIPULATION OF THE WHOLESALE\nENERGY MARKET, REQUEST AUTHORIZATION TO ISSUE\nSUBPOENAS FOR DOCUMENTS, AS FULLY DESCRIBED IN\nATTACHMENTS, TO THE FEDERAL ENERGY REGULATORY\nCOMMISSION (FERC)", "clipped": true, "phrase": "RELIANT ENERGY\nDYNEGY ENERGY SERVICES, INC.\nWILLIAMS ENERGY\nENRON CORPORATION\nNRG ENERGY, INC.\nDUKE ENERGY", "path": "sanders-r/all_documents/2128."}, "s482": {"from": "mlk@pkns.com", "to": "richard.b.sanders@enron.com", "subject": "[Fwd: [Fwd: Senate Rules]]", "text": "today:\n\nSENATOR DUNN - AS CHAIR OF THE SELECT COMMITTEE TO\nINVESTIGATE PRICE MANIPULATION OF THE WHOLESALE\nENERGY MARKET, REQUEST AUTHORIZATION TO ISSUE\nSUBPOENAS FOR DOCUMENTS, AS FULLY DESCRIBED IN\nATTACHMENTS, TO THE FOLLOWING ENERGY ENTITIES:\n\nRELIANT ENERGY\nDYNEGY ENERGY SERVICES, INC.\nWILLIAMS ENERGY\nENRON CORPORATION\nNRG ENERGY, INC.\nDUKE ENERGY\nMIRANT, INC.\nAES CORPORATION\n\nSENATOR DUNN - AS CHAIR OF THE SELECT COMMITTEE TO\nINVESTIGATE PRICE MANIPULATION OF THE WHOLESALE\nENERGY MARKET, REQUEST AUTHORIZATION TO ISSUE\nSUBPOENAS FOR DOCUMENTS, AS FULLY DESCRIBED IN\nATTACHMENTS, TO THE FEDERAL ENERGY REGULATORY\nCOMMISSION (FERC)", "clipped": true, "phrase": "RELIANT ENERGY\nDYNEGY ENERGY SERVICES, INC.\nWILLIAMS ENERGY\nENRON CORPORATION\nNRG ENERGY, INC.\nDUKE ENERGY", "path": "sanders-r/senator_dunn_inv_/41."}, "s486": {"from": "ann.schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "can do what they've done in the past,\" said Irving Sulmeyer, an attorney \nrepresenting the city and county of San Francisco. \nHouston-based Enron Corp. and Dynegy Inc., like other power wholesalers, have \ndenied gouging Californians on the price they pay for power. \nOn Friday, the two companies asked U.S. Bankruptcy Judge Dennis Montali to \nlet them keep selling electricity to PG&E's customers via the state \nDepartment of Water Resources, which has bought electricity on PG&E's behalf \nsince January. \nDynegy and Enron sit on the 11-member creditors committee that will play a \nhuge role in how PG&E's fortunes are divided among the more than 50,000 \nbanks, energy companies and cities to whom the utility owes money. \nThe \"safe harbor\" would shield them from conflict of interest accusations. \nThe committee members would be honor-bound not to share information with any", "clipped": true, "phrase": "On Friday, the two companies asked U.S. Bankruptcy Judge Dennis Montali to \nlet them keep selling electricity to PG&amp;E's customers via the state \nDepartment of Water Resources", "path": "kean-s/all_documents/4695."}, "s502": {"from": "lisa.mellencamp@enron.com", "to": "mark.haedicke@enron.com, richard.sanders@enron.com", "subject": "News update re today's Trading Motion Hearing", "text": "can do what they've done in the past,\" said Irving Sulmeyer, an attorney \nrepresenting the city and county of San Francisco.\n\nHouston-based Enron Corp. and Dynegy Inc., like other power wholesalers, have \ndenied gouging Californians on the price they pay for power.\n\nOn Friday, the two companies asked U.S. Bankruptcy Judge Dennis Montali to \nlet them keep selling electricity to PG&E's customers via the state \nDepartment of Water Resources, which has bought electricity on PG&E's behalf \nsince January.\n\nDynegy and Enron sit on the 11-member creditors committee that will play a \nhuge role in how PG&E's fortunes are divided among the more than 50,000 \nbanks, energy companies and cities to whom the utility owes money.\n\nThe \"safe harbor\" would shield them from conflict of interest accusations. \nThe committee members would be honor-bound not to share information with any", "clipped": true, "phrase": "On Friday, the two companies asked U.S. Bankruptcy Judge Dennis Montali to \nlet them keep selling electricity to PG&amp;E's customers via the state \nDepartment of Water Resources", "path": "sanders-r/all_documents/7538."}, "s487": {"from": "ann.schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "On Friday, the two companies asked U.S. Bankruptcy Judge Dennis Montali to \nlet them keep selling electricity to PG&E's customers via the state \nDepartment of Water Resources, which has bought electricity on PG&E's behalf \nsince January. \nDynegy and Enron sit on the 11-member creditors committee that will play a \nhuge role in how PG&E's fortunes are divided among the more than 50,000 \nbanks, energy companies and cities to whom the utility owes money. \nThe \"safe harbor\" would shield them from conflict of interest accusations. \nThe committee members would be honor-bound not to share information with any \nbranches of their companies able to profit from it. \n\"They want to be absolved in advance,\" Sulmeyer said. \"What are they so", "clipped": true, "phrase": "Dynegy and Enron sit on the 11-member creditors committee that will play a", "path": "kean-s/all_documents/4695."}, "s493": {"from": "miyung.buster@enron.com", "to": "ann.schmidt@enron.com, bryan.seyfried@enron.com, elizabeth.linnell@enron.com,   \tfiluntz@aol.com, james.steffes@enron.com, janet.butler@enron.com,   \tjeannie.mandelker@enron.com, jeff.dasovich@enron.com,   \tjoe.hartsoe@enron.com, john.nesla", "subject": "Energy Issues", "text": "their heels without piles of extra cash, Marks said it was common in \nbankruptcy cases for corporate leaders to receive an incentive to remain in \ntheir jobs and seek a resolution to the company's difficulties. \n\"We ended up with something that we think is fair,\" he said. \nThe creditors' committee includes financial heavyweights Bank of America and \nMerrill Lynch, as well as power giants Enron Corp. and Dynegy Inc. The \ncommittee's actions set the tone for PG&E's dealings with its thousands of \nother creditors, who are owed more than $9 billion. \nHarvey Rosenfield, head of the Foundation for Taxpayer and Consumer Rights in \nSanta Monica, said that by accepting the bonus plan for PG&E's top brass, the \ncreditors' committee had signaled that it would agree to almost anything that \nwould help them recover outstanding costs.", "clipped": true, "phrase": "The creditors' committee includes financial heavyweights Bank of America and \nMerrill Lynch, as well as power giants Enron Corp. and Dynegy Inc.", "path": "kean-s/all_documents/4682."}, "s503": {"from": "lisa.mellencamp@enron.com", "to": "mark.haedicke@enron.com, richard.sanders@enron.com", "subject": "News update re today's Trading Motion Hearing", "text": "On Friday, the two companies asked U.S. Bankruptcy Judge Dennis Montali to \nlet them keep selling electricity to PG&E's customers via the state \nDepartment of Water Resources, which has bought electricity on PG&E's behalf \nsince January.\n\nDynegy and Enron sit on the 11-member creditors committee that will play a \nhuge role in how PG&E's fortunes are divided among the more than 50,000 \nbanks, energy companies and cities to whom the utility owes money.\n\nThe \"safe harbor\" would shield them from conflict of interest accusations. \nThe committee members would be honor-bound not to share information with any \nbranches of their companies able to profit from it.\n\n\"They want to be absolved in advance,\" Sulmeyer said. \"What are they so \nconcerned about if they're not doing anything wrong?\"\n\nRobert Moore, an attorney representing the voluntary creditors committee,", "clipped": true, "phrase": "Dynegy and Enron sit on the 11-member creditors committee that will play a \nhuge role in how PG&amp;E's fortunes are divided among the more than 50,000 \nbanks, energy companies and cities to whom the utility owes money.", "path": "sanders-r/all_documents/7538."}, "s488": {"from": "ann.schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "since January. \nDynegy and Enron sit on the 11-member creditors committee that will play a \nhuge role in how PG&E's fortunes are divided among the more than 50,000 \nbanks, energy companies and cities to whom the utility owes money. \nThe \"safe harbor\" would shield them from conflict of interest accusations. \nThe committee members would be honor-bound not to share information with any \nbranches of their companies able to profit from it. \n\"They want to be absolved in advance,\" Sulmeyer said. \"What are they so \nconcerned about if they're not doing anything wrong?\" \nRobert Moore, an attorney representing the voluntary creditors committee, \nsaid other committee members such as Bank of America and Merrill Lynch also", "clipped": true, "phrase": "The \"safe harbor\" would shield them from conflict of interest accusations.", "path": "kean-s/all_documents/4695."}, "s505": {"from": "lisa.mellencamp@enron.com", "to": "mark.haedicke@enron.com, richard.sanders@enron.com", "subject": "News update re today's Trading Motion Hearing", "text": "since January.\n\nDynegy and Enron sit on the 11-member creditors committee that will play a \nhuge role in how PG&E's fortunes are divided among the more than 50,000 \nbanks, energy companies and cities to whom the utility owes money.\n\nThe \"safe harbor\" would shield them from conflict of interest accusations. \nThe committee members would be honor-bound not to share information with any \nbranches of their companies able to profit from it.\n\n\"They want to be absolved in advance,\" Sulmeyer said. \"What are they so \nconcerned about if they're not doing anything wrong?\"\n\nRobert Moore, an attorney representing the voluntary creditors committee, \nsaid other committee members such as Bank of America and Merrill Lynch also \nare requesting safe harbors so they can continue trading stock and remain \nmembers.\n\n\"At least four members of the committee would have to resign without it,\"", "clipped": true, "phrase": "The \"safe harbor\" would shield them from conflict of interest accusations. \nThe committee members would be honor-bound not to share information with any \nbranches of their companies able to profit from it.", "path": "sanders-r/all_documents/7538."}, "s485": {"from": "ann.schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "California power plants owned by a business partner, Arlington, Va.-based AES \nCorp. \nWithout admitting wrongdoing, Williams refunded $8 million to settle the \ncharges. \nCalifornia's investigations are examining the conduct of Williams, as well as \nseveral other prominent power wholesalers, including Houston-based Enron \nCorp., Dynegy Inc., and Reliant Energy, Charlotte, N.C.-based Duke Energy and \nAtlanta-based Mirant Corp. \nCohen said the utilities commission could file a civil lawsuit against the \nwholesalers by the end of June. Lockyer expects to wrap up an investigation \nin late July at the earliest. \n--- \nOn The Net: \nCalifornia Public Utilities Commission: http://www.cpuc.ca.gov \nCalifornia Attorney General: http://www.caag.state.ca.us \nhttp://www.enron.com \nhttp://www.reliant.com \nhttp://www.dynegy.com \nhttp://www.duke-energy.com \nhttp://www.williams.com", "clipped": true, "phrase": "several other prominent power wholesalers, including Houston-based Enron \nCorp., Dynegy Inc., and Reliant Energy, Charlotte, N.C.-based Duke Energy and \nAtlanta-based Mirant Corp.", "path": "kean-s/all_documents/4703."}, "s489": {"from": "ann.schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "keep whittling away at the utility's remaining money.\n\"We certainly don't believe they should get a safe harbor order so that they \ncan do what they've done in the past,\" said Irving Sulmeyer, an attorney \nrepresenting the city and county of San Francisco. \nHouston-based Enron Corp. and Dynegy Inc., like other power wholesalers, have \ndenied gouging Californians on the price they pay for power. \nOn Friday, the two companies asked U.S. Bankruptcy Judge Dennis Montali to \nlet them keep selling electricity to PG&E's customers via the state \nDepartment of Water Resources, which has bought electricity on PG&E's behalf \nsince January. \nDynegy and Enron sit on the 11-member creditors committee that will play a \nhuge role in how PG&E's fortunes are divided among the more than 50,000", "clipped": true, "phrase": "Houston-based Enron Corp. and Dynegy Inc., like other power wholesalers, have \ndenied gouging Californians on the price they pay for power.", "path": "kean-s/all_documents/4695."}, "s484": {"from": "ann.schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "shutdowns have been used to tighten supplies and hike prices. Dunn, a onetime \nconsumer attorney, is heading the Senate investigation panel that is trying \nto unravel these issues and the role of the trading floors, operated by the \nnation's largest power marketers: Enron, Mirant, Duke Energy, Dynegy Inc., \nWilliams Cos. and Reliant. \nThe committee is seeking records that could determine whether the power \ncompanies have swapped information on trading tactics to maximize prices. \nAmong dozens of categories of documents Dunn's committee has requested--and \nmay ultimately subpoena--are computer records from trading floors, recordings \nof communications between traders for different companies and training \nmanuals for traders.", "clipped": true, "phrase": "nation's largest power marketers: Enron, Mirant, Duke Energy, Dynegy Inc., \nWilliams Cos. and Reliant.", "path": "kean-s/all_documents/4703."}, "s491": {"from": "ann.schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "Davis has refused to release details of the deals, warning that if generators \nknew how much the state was spending on power they might raise their prices. \nSeveral news organizations and a legislator are suing to make the information \npublic. \nThe subpoenas will be issued to Reliant Energy of Houston, which Gov. Gray \nDavis has publicly accused of price gouging, Dynegy Energy Services Inc., \nWilliams Energy, Houston-based Enron Corp., NRG Energy Inc., Duke Energy, \nMirant Inc., and AES Corp. \nDunn's panel needed approval of the rules committee to issue the subpoenas \nunder Senate regulations. \nThe committee won't issue the subpoenas for at least one-week, after the \nchairman of the Rules Committee, Senate President Pro Tem John Burton, D-San \nFrancisco, opposed issuing subpoenas to the city and state departments, at \nleast temporarily. \n--- \nOn the Net: \nhttp://www.sen.ca.gov", "clipped": true, "phrase": "The subpoenas will be issued to Reliant Energy of Houston, which Gov. Gray \nDavis has publicly accused of price gouging, Dynegy Energy Services Inc., \nWilliams Energy, Houston-based Enron Corp., NRG Energy Inc., Duke Energy, \nMirant Inc., and AES Corp.", "path": "kean-s/all_documents/4684."}, "s494": {"from": "miyung.buster@enron.com", "to": "ann.schmidt@enron.com, bryan.seyfried@enron.com, elizabeth.linnell@enron.com,   \tfiluntz@aol.com, james.steffes@enron.com, janet.butler@enron.com,   \tjeannie.mandelker@enron.com, jeff.dasovich@enron.com,   \tjoe.hartsoe@enron.com, john.nesla", "subject": "Energy Issues", "text": "companies are illegally profiteering the state's power crisis gets permission \nfrom the Senate Rules Committee to subpoena documents from the companies \ndetailing bidding, pricing and other aspects of their electricity sales to \nthe state. The committee plans to subpoena Mirant, Dynegy, Williams, AES, \nDuke, Enron, NRG and Reliant, and could also issue subpoenas to the Los \nAngeles Department of Water and Power and the state Department of Water \nResources to access details of their power selling and buying processes, \nrespectively. \n* The state's grid operator says California's electricity production should \nimprove in the coming weeks as more power plants come back on line after \nspring maintenance shutdowns. That, coupled with conservation efforts, could", "clipped": true, "phrase": "The committee plans to subpoena Mirant, Dynegy, Williams, AES, \nDuke, Enron, NRG and Reliant", "path": "kean-s/all_documents/4682."}, "s495": {"from": "steve.hall@enron.com", "to": "richard.sanders@enron.com, tim.belden@enron.com, christian.yoder@enron.com,   \tgfergus@brobeck.com", "subject": "California Senate to issue subpoenas to Enron, others", "text": "Under Senate regulations, Dunn's panel needed approval of the Rules Committee \nto issue the subpoenas. \nIndustry executives deny that they have broken any laws in selling \nelectricity at premium prices to California's financially strapped utilities \nand the state water department. \nThe subpoenas will be issued to Reliant Energy, which Gov. Gray Davis has \npublicly accused of price gouging, Dynegy Energy Services Inc., Williams \nEnergy, Enron Corp., NRG Energy Inc., Duke Energy, Mirant Inc., and AES Corp. \nDunn said executives of the generators seemed cooperative when the \ninvestigation was launched two months ago. Since then, he said, they have \nraised barriers, including demands that the confidentiality of their \ndocuments be protected. \nThe demand for information from the Los Angeles DWP and the state's water \nresources department were pushed by Sen. Ross Johnson (R-Irvine), vice \nchairman of the rules panel.", "clipped": true, "phrase": "The subpoenas will be issued to Reliant Energy, which Gov. Gray Davis has \npublicly accused of price gouging, Dynegy Energy Services Inc., Williams \nEnergy, Enron Corp., NRG Energy Inc., Duke Energy, Mirant Inc., and AES Corp.", "path": "sanders-r/all_documents/7501."}, "s492": {"from": "ann.schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "publicly accused of price gouging, Dynegy Energy Services Inc., Williams \nEnergy, Enron Corp., NRG Energy Inc., Duke Energy, Mirant Inc., and AES Corp. \nDunn said executives of the generators seemed cooperative when the \ninvestigation was launched two months ago. Since then, he said, they have \nraised barriers, including demands that the confidentiality of their \ndocuments be protected. \nThe demand for information from the Los Angeles DWP and the state's water \nresources department were pushed by Sen. Ross Johnson (R-Irvine), vice \nchairman of the rules panel. \n\"Why are we not attempting to subpoena the Los Angeles Department of Water \nand Power? There certainly have been suggestions that they have profited,\" \nJohnson said, referring to reports from the California Independent System", "clipped": true, "phrase": "Since then, he said, they have \nraised barriers, including demands that the confidentiality of their \ndocuments be protected.", "path": "kean-s/all_documents/4684."}, "s496": {"from": "steve.hall@enron.com", "to": "richard.sanders@enron.com, tim.belden@enron.com, christian.yoder@enron.com,   \tgfergus@brobeck.com", "subject": "California Senate to issue subpoenas to Enron, others", "text": "SACRAMENTO--The Senate Rules Committee agreed Monday to issue subpoenas to \neight out-of-state power generating companies demanding documents on pricing, \nbidding and other aspects of electricity sales in the state. \nSen. Joe Dunn (D-Santa Ana), chairman of the special Senate committee that is \ninvestigating whether power wholesalers are illegally profiteering from \nCalifornia's energy crisis, said he expects the companies to resist. That \nwould set the stage for a court fight, he said. \nIn addition to subpoenas aimed at the private generating companies, the \ncommittee also put the Los Angeles Department of Water and Power on notice \nthat unless it voluntarily provides information on its power sales to the \nstate, the data will be subpoenaed as well. And the panel threatened to \nsubpoena records of the state Department of Water Resources unless it turns", "clipped": true, "phrase": "investigating whether power wholesalers are illegally profiteering from \nCalifornia's energy crisis, said he expects the companies to resist.", "path": "sanders-r/all_documents/7501."}, "s506": {"from": "lisa.mellencamp@enron.com", "to": "mark.haedicke@enron.com, richard.sanders@enron.com", "subject": "News update re today's Trading Motion Hearing", "text": "said other committee members such as Bank of America and Merrill Lynch also \nare requesting safe harbors so they can continue trading stock and remain \nmembers.\n\n\"At least four members of the committee would have to resign without it,\" \nMoore told the judge.\n\nMontali asked each committee member to file a declaration with the court \nrequesting to trade either commodities (electricity) or securities (stock), \nand scheduled another hearing on the issue for June 12.\n\n-- Associated Press \n\n______________________________ \nAllan T. Marks \nMilbank, Tweed, Hadley & McCloy LLP \nemail:? amarks@milbank.com \nwebsite:? www.milbank.com? \n(213) 892-XXXX (L.A. telephone) \n(212) 530-XXXX (N.Y. telephone) \n(213) 892-XXXX (L.A. direct fax) \n(213) 629-XXXX (L.A. main fax)????????????????  \n\n <<...>> \n\nThis e-mail message may contain legally privileged and/or confidential", "clipped": true, "phrase": "Montali asked each committee member to file a declaration with the court \nrequesting to trade either commodities (electricity) or securities (stock), \nand scheduled another hearing on the issue for June 12.", "path": "sanders-r/all_documents/7538."}, "s507": {"from": "lisa.mellencamp@enron.com", "to": "mark.haedicke@enron.com, richard.sanders@enron.com", "subject": "News update re today's Trading Motion Hearing", "text": "concerned about if they're not doing anything wrong?\"\n\nRobert Moore, an attorney representing the voluntary creditors committee, \nsaid other committee members such as Bank of America and Merrill Lynch also \nare requesting safe harbors so they can continue trading stock and remain \nmembers.\n\n\"At least four members of the committee would have to resign without it,\" \nMoore told the judge.\n\nMontali asked each committee member to file a declaration with the court \nrequesting to trade either commodities (electricity) or securities (stock), \nand scheduled another hearing on the issue for June 12.\n\n-- Associated Press \n\n______________________________ \nAllan T. Marks \nMilbank, Tweed, Hadley & McCloy LLP \nemail:? amarks@milbank.com \nwebsite:? www.milbank.com? \n(213) 892-XXXX (L.A. telephone) \n(212) 530-XXXX (N.Y. telephone)", "clipped": true, "phrase": "\"At least four members of the committee would have to resign without it,\" \nMoore told the judge.", "path": "sanders-r/all_documents/7538."}, "s504": {"from": "lisa.mellencamp@enron.com", "to": "mark.haedicke@enron.com, richard.sanders@enron.com", "subject": "News update re today's Trading Motion Hearing", "text": "keep whittling away at the utility's remaining money.\n\n\"We certainly don't believe they should get a safe harbor order so that they \ncan do what they've done in the past,\" said Irving Sulmeyer, an attorney \nrepresenting the city and county of San Francisco.\n\nHouston-based Enron Corp. and Dynegy Inc., like other power wholesalers, have \ndenied gouging Californians on the price they pay for power.\n\nOn Friday, the two companies asked U.S. Bankruptcy Judge Dennis Montali to \nlet them keep selling electricity to PG&E's customers via the state \nDepartment of Water Resources, which has bought electricity on PG&E's behalf \nsince January.\n\nDynegy and Enron sit on the 11-member creditors committee that will play a \nhuge role in how PG&E's fortunes are divided among the more than 50,000", "clipped": true, "phrase": "Houston-based Enron Corp. and Dynegy Inc., like other power wholesalers, have \ndenied gouging Californians on the price they pay for power.", "path": "sanders-r/all_documents/7538."}, "s508": {"from": "miyung.buster@enron.com", "to": "ann.schmidt@enron.com, bryan.seyfried@enron.com, elizabeth.linnell@enron.com,   \tfiluntz@aol.com, james.steffes@enron.com, janet.butler@enron.com,   \tjeannie.mandelker@enron.com, jeff.dasovich@enron.com,   \tjoe.hartsoe@enron.com, john.nesla", "subject": "Energy Issues", "text": "electric rates for the next two years. And chairing the Committee on \nGovernmental Affairs will be Sen. Joseph Lieberman of Connecticut, who's \nalready asked for an audit of energy prices. \nThose changes will draw a lot more attention to recent studies showing that a \nhandful of big generators -- Duke Power, Reliant, Mirant, Dynegy and the huge \nenergy-marketing firm Enron -- have gamed the market to drive wholesale \nprices to levels that, in the year 2000, sometimes reached 40 times the \nprices of the year before. \nThe findings come not merely from economists at the California Independent \nSystem Operator, the agency that manages the state's grid, who estimate \novercharges resulting from market power at $6.2 billion for last year alone. \nThey come also from Severin Borenstein and his colleagues at the University \nof California Energy Institute, who \"conservatively\" calculate the", "clipped": true, "phrase": "handful of big generators -- Duke Power, Reliant, Mirant, Dynegy and the huge \nenergy-marketing firm Enron -- have gamed the market to drive wholesale \nprices to levels that, in the year 2000, sometimes reached 40 times", "path": "kean-s/all_documents/4675."}, "s523": {"from": "karen.denne@enron.com", "to": "kenneth.lay@enron.com, jeff.skilling@enron.com, jeff.dasovich@enron.com,   \tsusan.mara@enron.com, alan.comnes@enron.com,   \trichard.shapiro@enron.com, james.steffes@enron.com,   \tharry.kingerski@enron.com, ken@kdscommunications.com,   \teliz", "subject": "LA Times Article", "text": "Davis spokesman Steve Maviglio said the governor has directed his sharpest barbs at private out-of-state generators because, in general, they have reaped the highest profits over the longest period. \n\"You have to look at the whole picture,\" Maviglio said. \n\"The governor was expressing his displeasure with the arrogance of the generators who wear cowboy hats,\" he said. \"Their profits were 100% to 400% above last year. . . . Just because there are other entities who are charging us more [per megawatt-hour] doesn't change the fact that we are getting ripped off by companies from Houston, Tulsa, Atlanta or Charlotte.\" \nThe report by the Department of Water Resources was provided to The Times on the same day the state released 1,700 pages of documents on California's electricity purchases on the volatile spot market for the year's first quarter.", "clipped": true, "phrase": "\"The governor was expressing his displeasure with the arrogance of the generators who wear cowboy hats,\" he said. \"Their profits were 100% to 400% above last year.", "path": "kean-s/california_campaign/23."}, "s526": {"from": "mmolland@brobeck.com", "to": "b..sanders@enron.com", "subject": "", "text": "prompt court relief on this issue or, in the alternative, file a lawsuit to\nmake EES a party in this litigation, then reach out of state documents\nthrough ordinary discovery.  We are at an impasse on this issue.\n*\tConfidentiality:  The AG proposes a confidentiality order identical\nto the order in place between Reliant and Dynegy in their litigation with\nthe AG in Los Angeles.  This order limits access to confidential documents\nto less than 20 persons, but provides that persons outside the AG's office\nat the PUC and other California governmental agencies may review produced\ndocuments. The court in LA  has recently ruled that the confidentiality in\nplace with Reliant and Dynegy and Mirant may be amended to permit the\noffices of the Attorneys General of Oregon and Washington to review produced", "clipped": true, "phrase": "to the order in place between Reliant and Dynegy in their litigation with", "path": "sanders-r/senator_dunn_inv_/61."}, "s534": {"from": "mmolland@brobeck.com", "to": "c..williams@enron.com, b..sanders@enron.com", "subject": "FW: Confidentiality Order with AG re EES subpoena", "text": "> Cc:\t'arguedas@caclaw.net'; 'aruby@rubyschofield.com';\n> 'meltzerlaw@aol.com'\n> Subject:\tConfidentiality Order with AG re EES subpoena\n>\n> \tThe attorney general will agree to a confidentiality order to govern\n> EES's production that was approved by the Los Angeles Superior Court that\n> adjudicated the dispute on confidentiality between the AG and Reliant,\n> Dynegy and Mirant. The court's order allows the AG to share documents\n> produced with the AGs in Washington and Oregon. Mirant and Reliant have\n> filed a writ to overturn the LA court's order on grounds that they are not\n> under investigation in Oregon or Washington. Today we learned the Oregon\n> and Washington AG's have initiated investigations against Mirant and\n> Reliant. If EES or Enron resists the confidentiality order on these", "clipped": true, "phrase": "adjudicated the dispute on confidentiality between the AG and Reliant,\n&gt; Dynegy and Mirant.", "path": "sanders-r/senator_dunn_inv_/70."}, "s527": {"from": "mmolland@brobeck.com", "to": "b..sanders@enron.com", "subject": "", "text": "the AG in Los Angeles.  This order limits access to confidential documents\nto less than 20 persons, but provides that persons outside the AG's office\nat the PUC and other California governmental agencies may review produced\ndocuments. The court in LA  has recently ruled that the confidentiality in\nplace with Reliant and Dynegy and Mirant may be amended to permit the\noffices of the Attorneys General of Oregon and Washington to review produced\ndocuments, subject to the confidentiality provisions of the agreement.\nReliant and Dynergy are challenging this provision of the order in the\nappellate courts, but have not obtained an order staying their production\nunder this order.  The AG says they will not sign a different\nconfidentiality order with us.  We did not agree to these provisions.  We", "clipped": true, "phrase": "place with Reliant and Dynegy and Mirant may be amended to permit the", "path": "sanders-r/senator_dunn_inv_/61."}, "s528": {"from": "mmolland@brobeck.com", "to": "b..sanders@enron.com", "subject": "", "text": "documents. The court in LA  has recently ruled that the confidentiality in\nplace with Reliant and Dynegy and Mirant may be amended to permit the\noffices of the Attorneys General of Oregon and Washington to review produced\ndocuments, subject to the confidentiality provisions of the agreement.\nReliant and Dynergy are challenging this provision of the order in the\nappellate courts, but have not obtained an order staying their production\nunder this order.  The AG says they will not sign a different\nconfidentiality order with us.  We did not agree to these provisions.  We\nare to give the AG a redlined confidentiality order on Monday that we would\naccept in return for producing documents within California.\n*\tProduction of electronic documents:  They insist that all documents", "clipped": true, "phrase": "Reliant and Dynergy are challenging this provision of the order in the", "path": "sanders-r/senator_dunn_inv_/61."}, "s535": {"from": "mmolland@brobeck.com", "to": "c..williams@enron.com, b..sanders@enron.com", "subject": "FW: Confidentiality Order with AG re EES subpoena", "text": "> -----Original Message-----\n> From:\tMolland, Michael E.\n> Sent:\tTuesday, July 17, 2001 5:39 PM\n> To:\t'richard.b.sanders@enron.com'; 'mlk@pkns.com';\n> 'Robert.C.Williams@enron.com'; 'sbishop@gibbs-bruns.com';\n> 'mtuohey@velaw.com'; Fergus, Gary S.\n> Cc:\t'arguedas@caclaw.net'; 'aruby@rubyschofield.com';\n> 'meltzerlaw@aol.com'\n> Subject:\tConfidentiality Order with AG re EES subpoena\n>\n> \tThe attorney general will agree to a confidentiality order to govern\n> EES's production that was approved by the Los Angeles Superior Court that\n> adjudicated the dispute on confidentiality between the AG and Reliant,\n> Dynegy and Mirant. The court's order allows the AG to share documents\n> produced with the AGs in Washington and Oregon. Mirant and Reliant have\n> filed a writ to overturn the LA court's order on grounds that they are not\n> under investigation in Oregon or Washington. Today we learned the Or", "clipped": true, "phrase": "&gt; filed a writ to overturn the LA court's order on grounds that they are not\n&gt; under investigation in Oregon or Washington.", "path": "sanders-r/senator_dunn_inv_/70."}, "s536": {"from": "steven.kean@enron.com", "to": "sgovenar@govadv.com", "subject": "Re: Senator Dunn Hearing", "text": "<james.d.steffes@enron.com>, \"Rick Shapiro\" <rshapiro@enron.com>\n\ncc:  \n\nSubject: Senator Dunn Hearing\n\nTHE SELECT COMMITTEE TO INVESTIGATE PRICE MANIPULATION OF THE WHOLESALE\nENERGY MARKET WILL MEET ON WEDNESDAY, JULY 18 AT 9:30 A.M. IN ROOM 3191 TO\nREVIEW COMPLIANCE WITH SUBPOENAS FOR DUKE, DYNEGY, RELIANT, AES, NRG AND\nWILLIAMS.", "clipped": true, "phrase": "REVIEW COMPLIANCE WITH SUBPOENAS FOR DUKE, DYNEGY, RELIANT, AES, NRG AND", "path": "kean-s/all_documents/8749."}, "s538": {"from": "steven.kean@enron.com", "to": "sgovenar@govadv.com", "subject": "Re: Senator Dunn Hearing", "text": "cc:\t \n\nSubject:\tSenator Dunn Hearing\n\nTHE SELECT COMMITTEE TO INVESTIGATE PRICE MANIPULATION OF THE WHOLESALE\nENERGY MARKET WILL MEET ON WEDNESDAY, JULY 18 AT 9:30 A.M. IN ROOM 3191 TO\nREVIEW COMPLIANCE WITH SUBPOENAS FOR DUKE, DYNEGY, RELIANT, AES, NRG AND\nWILLIAMS.", "clipped": true, "phrase": "REVIEW COMPLIANCE WITH SUBPOENAS FOR DUKE, DYNEGY, RELIANT, AES, NRG AND", "path": "kean-s/sent_items/185."}, "s548": {"from": "kristin.walsh@enron.com", "to": "m..presto@enron.com, k..allen@enron.com", "subject": "Western Issues 7/23/01", "text": "Below is the weekly western issues update sent to Tim earlier.  If you have any questions, please feel free to Kristin Walsh (x39510).\n\nEXECUTIVE SUMMARY\nFERC Multi-Party Refund Negotiations\nBPA Financials & Smelter Agreements\nBC Hydro Rate Freeze\n\nPower Refunds\nThe big event that happened last week in Washington DC, in regards to California and the rest of the Western energy markets, was that multi-party negotiations that flopped - apparently the difference between $8.9 billion and $703.6 million between parties could not be settled.  Below is a rough breakdown corporate offerings:\n\nWilliams, Duke, Reliant, Dynegy, & Mirant: \t \t $510 million combined\nPowerEx (BC Hydro):\t\t\t        \t $125 million\n15 Power Marketers including Enron:\t\t $49.6 million\n7 California Municipal Utilities:\t\t\t $6.5 million\nLoad-serving entities outside CA:\t\t\t $12.5 million\n\nNorthwest utilities submitted their calcu", "clipped": true, "phrase": "Williams, Duke, Reliant, Dynegy, &amp; Mirant: \t \t $510 million combined", "path": "kitchen-l/_americas/regulatory/111."}, "s552": {"from": "c..hall@enron.com", "to": "alan.comnes@enron.com, tim.belden@enron.com, chris.mallory@enron.com,   \tbill.williams@enron.com", "subject": "Duke, other generators, continue to bid into the ISO above the cap", "text": "The analysis by the California Independent System Operator covers only the first week after the caps were imposed June 20. Cal-ISO has submitted the data to federal regulators for potential investigation. The report is a summary of what Cal-ISO calls possible anti-competitive behavior by Duke Energy, Williams Cos., Mirant Corp., Reliant Energy and Dynegy Corp.", "clipped": true, "phrase": "The report is a summary of what Cal-ISO calls possible anti-competitive behavior by Duke Energy, Williams Cos., Mirant Corp., Reliant Energy and Dynegy Corp.", "path": "williams-w3/bill_williams_iii/522."}, "s576": {"from": "jeff.dasovich@enron.com", "to": "sarah.novosel@enron.com, l..nicolay@enron.com, richard.shapiro@enron.com,   \tj..kean@enron.com, d..steffes@enron.com, linda.robertson@enron.com,   \tpat.shortridge@enron.com, dave.perrino@enron.com,   \talan.comnes@enron.com, m..landwehr@enro", "subject": "Power providers cry foul over fees -- Cal ISO/DWR price   manipulation?", "text": "Energy firms as well as municipal utility systems have complained about mysterious charges on their accounts with the grid agency, said Jan Smutney- Jones of the Independent Energy Producers Association, which represents such industry giants as Enron, Dynegy, Williams and Reliant. \nThe charges showed up around the time the state Department of Water Resources was forced to start selling excess electricity it had purchased at an average of $69 per megawatt hour for as little as $1 per megawatt hour. \n\"The ISO seems to be following specific instructions the Department of Water Resources is giving them,\" Smutney-Jones said.", "clipped": true, "phrase": "said Jan Smutney- Jones of the Independent Energy Producers Association, which represents such industry giants as Enron, Dynegy, Williams and Reliant.", "path": "kean-s/california/1967."}, "s661": {"from": "m..schmidt@enron.com", "to": "karen.denne@enron.com, vance.meyer@enron.com, j..kean@enron.com,   \tmeredith.philipp@enron.com, pat.radford@enron.com,   \tleslie.hiltabrand@enron.com, pr <.palmer@enron.com>", "subject": "Enron Still Target in California Amid Other Problems (Update1)", "text": "general's investigation.\n\n     ``I think the attorney general demonstrated his willingness\nto take a fair and impartial look a long time ago when he made his\nvulgar and unfounded remarks about our chairman,'' Palmer said.\n\n                           More Lawsuits\n\n     Enron, along with other major power providers such as Duke\nEnergy Corp. and Dynegy Inc., face at least five lawsuits alleging\nthey manipulated California energy prices in violation of\nantitrust laws.\n\n     The cases, which include separate complaints filed by the\nCity of San Francisco, California Lieutenant Governor Cruz\nBustamante and various consumers, currently are in state courts\nawaiting a coordination proceeding, said Michael Aguirre, a lawyer\nrepresenting Bustamante. The lawsuits should be assigned to a\njudge by the end of next month, he said.\n\n     If the complaints succeed, the companies might be ordered to", "clipped": true, "phrase": "Enron, along with other major power providers such as Duke\nEnergy Corp. and Dynegy Inc., face at least five lawsuits alleging\nthey manipulated California energy prices in violation of\nantitrust laws.", "path": "kean-s/deleted_items/276."}, "s662": {"from": "karen.denne@enron.com", "to": "jeff.dasovich@enron.com, susan.mara@enron.com, b..sanders@enron.com,   \tpaul.kaufman@enron.com", "subject": "FW: Enron Still Target in California Amid Other Problems (Update1)", "text": "City of San Francisco, California Lieutenant Governor Cruz\nBustamante and various consumers, currently are in state courts\nawaiting a coordination proceeding, said Michael Aguirre, a lawyer\nrepresenting Bustamante. The lawsuits should be assigned to a\njudge by the end of next month, he said.\n\n     If the complaints succeed, the companies might be ordered to\nrepay profits from any illegal activities and pay fines, including\ntriple damages.\n\n     Enron's stock fell 95 cents, or 5.8 percent, to $15.40,\ndeclining for the eighth day in a row. The shares have fallen 80\npercent in the past 12 months.\n\n--Daniel Taub in Los Angeles, (323) 801-XXXX or", "clipped": true, "phrase": "If the complaints succeed, the companies might be ordered to\nrepay profits from any illegal activities and pay fines, including\ntriple damages.", "path": "sanders-r/deleted_items/203."}, "s663": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "Energy Corp. and Dynegy Inc., face at least five lawsuits alleging\nthey manipulated California energy prices in violation of\nantitrust laws.\n\n     The cases, which include separate complaints filed by the\nCity of San Francisco, California Lieutenant Governor Cruz\nBustamante and various consumers, currently are in state courts\nawaiting a coordination proceeding, said Michael Aguirre, a lawyer\nrepresenting Bustamante. The lawsuits should be assigned to a\njudge by the end of next month, he said.\n\n     If the complaints succeed, the companies might be ordered to\nrepay profits from any illegal activities and pay fines, including\ntriple damages.\n\n     Enron's stock fell 95 cents, or 5.8 percent, to $15.40,\ndeclining for the eighth day in a row. The shares have fallen 80\npercent in the past 12 months.\n\n--Daniel Taub in Los Angeles, (323) 801-XXXX or\n\nEnron Bonds Fall as Company Taps $3 Bln Credit Line (Update5)", "clipped": true, "phrase": "currently are in state courts\nawaiting a coordination proceeding, said Michael Aguirre, a lawyer\nrepresenting Bustamante. The lawsuits should be assigned to a\njudge by the end of next month", "path": "kean-s/inbox/40."}, "s1126": {"from": "issuealert@scientech.com", "to": "issuealerthtml@listserv.scientech.com", "subject": "Enron Continues to Implode; Will the Dynegy Deal Proceed?", "text": "In addition, Enron shareholders launched a lawsuit on Nov. 12 in state court in Houston to prevent the merger with Dynegy from happening. The petition reportedly alleges that Enron directors breached their fiduciary duties by agreeing to sell the company at too low a price and without adequate consideration of other alternatives. Enron said it will defend its decision in court.", "clipped": true, "phrase": "Enron shareholders launched a lawsuit on Nov. 12 in state court in Houston to prevent the merger with Dynegy from happening.", "path": "kean-s/deleted_items/422."}, "s1204": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions - 11/24/01 - 11/25/01", "text": "Among the allegations: \n* In a report released in March, Cal-ISO accused energy producers and resellers, including Dynegy, of overcharging Californians by $6.7 billion between May 2000 and March 2001. Power suppliers have denied the allegations. The report also found that Dynegy reaped about $32 million in \"monopoly rents\" between May and November of last year, or profits beyond what a competitive market would bear. That was the fourth-highest total for any company noted in the report. Enron was ranked sixth, taking $27.9 million in such profits.", "clipped": true, "phrase": "The report also found that Dynegy reaped about $32 million in \"monopoly rents\" between May and November of last year, or profits beyond what a competitive market would bear.", "path": "kitchen-l/_americas/sec_media/20."}, "s1205": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions - 11/24/01 - 11/25/01", "text": "* Cal-ISO said Dynegy maximized profits primarily through a practice known as \"economic withholding,\" or bidding electricity at prices so high that they would be rejected, thereby pushing up the price charged for the remaining generation sold into the market. Dynegy also did some \"physical withholding,\" Cal-ISO said, meaning that the company withheld electricity supplies to drive up the price. \n* Dynegy was accused last April in hearings before state legislators of hoarding space on a key natural gas pipeline into California in 1998 and 1999, causing natural gas prices to soar. Dynegy executives testified that the charge was untrue.", "clipped": true, "phrase": "Cal-ISO said Dynegy maximized profits primarily through a practice known as \"economic withholding,\" or bidding electricity at prices so high that they would be rejected, thereby pushing up the price charged for the remaining generation sold into the market.", "path": "kitchen-l/_americas/sec_media/20."}, "s1206": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions - 11/24/01 - 11/25/01", "text": "* Dynegy was accused last April in hearings before state legislators of hoarding space on a key natural gas pipeline into California in 1998 and 1999, causing natural gas prices to soar. Dynegy executives testified that the charge was untrue. \n* When federal regulators ordered $125 million in potential refunds for the first four months of the year, Dynegy's portion was the largest among the power sellers named, representing slightly more than one third. Dynegy said its prices were justified by high natural gas prices, emissions costs and other factors.", "clipped": true, "phrase": "Dynegy was accused last April in hearings before state legislators of hoarding space on a key natural gas pipeline into California in 1998 and 1999, causing natural gas prices to soar. Dynegy executives testified that the charge was untrue.", "path": "kitchen-l/_americas/sec_media/20."}, "s1208": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions - 11/24/01 - 11/25/01", "text": "In addition, Dynegy signed long-term electricity contracts with the state that have been singled out by critics for containing potentially lucrative clauses requiring that the state pay emissions costs and other costs. \nThe California Independent System Operator, which runs the long-distance power transmission grid serving much of the state, has asked federal regulators to ban Dynegy from selling power at market prices. Cal-ISO has made the same request concerning the other major power plant owners: Duke, Reliant, Atlanta-based Mirant Inc. and AES Corp. of Arlington, Va., which markets its power through an agreement with Williams Cos. of Tulsa, Okla. \n\"Dynegy has sort of slid by under the radar,\" said Doug Heller of the Foundation for Taxpayer & Consumer Rights, a consumer activist group.", "clipped": true, "phrase": "The California Independent System Operator, which runs the long-distance power transmission grid serving much of the state, has asked federal regulators to ban Dynegy from selling power at market prices.", "path": "kitchen-l/_americas/sec_media/20."}, "s1207": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions - 11/24/01 - 11/25/01", "text": "* Dynegy was accused last April in hearings before state legislators of hoarding space on a key natural gas pipeline into California in 1998 and 1999, causing natural gas prices to soar. Dynegy executives testified that the charge was untrue. \n* When federal regulators ordered $125 million in potential refunds for the first four months of the year, Dynegy's portion was the largest among the power sellers named, representing slightly more than one third. Dynegy said its prices were justified by high natural gas prices, emissions costs and other factors. \nDynegy President Stephen Bergstrom said in April that the company was \"unfairly and inaccurately accused of withholding power from the California market.\"", "clipped": true, "phrase": "When federal regulators ordered $125 million in potential refunds for the first four months of the year, Dynegy's portion was the largest among the power sellers named, representing slightly more than one third.", "path": "kitchen-l/_americas/sec_media/20."}, "s1417": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions- 11/30/01", "text": "Enron probably would face accusations it broke energy trading\ncontracts. The agreements, known as derivatives, were used as\ninsurance against price swings in the energy market. With the\ncompany poised to file for Chapter 11, it is expected to miss\npayments under the contracts.\n\n     There's also the developing battle between Enron and Dynegy\nover the failed buyout bid that might end up in bankruptcy court.\n\n     That might lead a bankruptcy judge to take a look at the\nrecent court case involving Tyson Foods Inc. and IBP Inc., a beef\nproducer. A judge in Delaware ordered Tyson to complete its buyout\nof IBP after their proposed combination collapse. Tyson, like\nDynegy, had said it wasn't fully informed about IBP's financial\nproblems when it negotiated to acquire the beef producer.\n\n     Dynegy said today it plans to take over Enron's Northern", "clipped": true, "phrase": "There's also the developing battle between Enron and Dynegy\nover the failed buyout bid that might end up in bankruptcy court.", "path": "kitchen-l/_americas/sec_media/3."}, "s1418": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions- 11/30/01", "text": "That might lead a bankruptcy judge to take a look at the\nrecent court case involving Tyson Foods Inc. and IBP Inc., a beef\nproducer. A judge in Delaware ordered Tyson to complete its buyout\nof IBP after their proposed combination collapse. Tyson, like\nDynegy, had said it wasn't fully informed about IBP's financial\nproblems when it negotiated to acquire the beef producer.\n\n     Dynegy said today it plans to take over Enron's Northern\nNatural Gas Co. pipeline unit next month. Dynegy said it's\nentitled to the pipeline under the terms of its Nov. 9 merger\nagreement that gave it $1.5 billion in preferred stock in Northern\nNatural Gas.\n\n     Enron could sue as part of the bankruptcy case to stop Dynegy\nfrom walking away from the buyout and claiming ownership to the\npipeline.\n\n                           Complications", "clipped": true, "phrase": "Tyson, like\nDynegy, had said it wasn't fully informed about IBP's financial\nproblems when it negotiated to acquire the beef producer.", "path": "kitchen-l/_americas/sec_media/3."}, "s1420": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions- 11/30/01", "text": "Dynegy said today it plans to take over Enron's Northern\nNatural Gas Co. pipeline unit next month. Dynegy said it's\nentitled to the pipeline under the terms of its Nov. 9 merger\nagreement that gave it $1.5 billion in preferred stock in Northern\nNatural Gas.\n\n     Enron could sue as part of the bankruptcy case to stop Dynegy\nfrom walking away from the buyout and claiming ownership to the\npipeline.\n\n                           Complications\n\n     Any Chapter 11 cases would be ``inordinately complicated,''\nsaid Lynn LoPucki, a law professor at the University of California\nat Los Angeles.\n\n     The largest bankruptcy on record is Texaco's $35.9 billion\nfiling in 1987. Enron lists $61 billion in assets.\n     Other big companies, like W.R. Grace & Co. and SGL Carbon\nInc., used bankruptcy filings to manage lawsuits, said Ken", "clipped": true, "phrase": "Enron could sue as part of the bankruptcy case to stop Dynegy\nfrom walking away from the buyout and claiming ownership to the\npipeline.", "path": "kitchen-l/_americas/sec_media/3."}, "s1427": {"from": "chairman.ken@enron.com", "to": "dl-ga-all_enron_worldwide2@enron.com", "subject": "Enron Files Chapter 11 Reorganization", "text": "-- We filed a lawsuit against Dynegy, alleging breach of contract and other causes of action for Dynegy's wrongful termination of our proposed merger. We are asking the court for damages of not less than $10 billion.\n\n-- We also announced this morning that we are in active discussions with various leading financial institutions about providing financial support to recapitalize and revitalize the company's wholesale energy trading operations under a new ownership structure. As contemplated, this recapitalized entity will be staffed with people from Enron's current wholesale energy trading team, and will conduct counterparty transactions through EnronOnline.", "clipped": true, "phrase": "We filed a lawsuit against Dynegy, alleging breach of contract and other causes of action for Dynegy's wrongful termination of our proposed merger. We are asking the court for damages of not less than $10 billion.", "path": "kitchen-l/_americas/esvl/385."}, "s1428": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "Dynegy Sues Enron in Texas for Natural-Gas Pipeline (Update1)\n2001-12-03 17:02 (New York)\n\nDynegy Sues Enron in Texas for Natural-Gas Pipeline (Update1)\n\n     (Updates with closing share prices in last paragraph.)\n\n     Houston, Dec. 3 (Bloomberg) -- Dynegy Inc., answering a\nlawsuit filed as part of Enron Corp.'s Chapter 11 bankruptcy\nfiling yesterday, sued in a Texas court to gain control of Enron's\nNorthern Natural Gas Co. pipeline.\n\n     Enron sued in federal court seeking $10 billion in damages\nand asking the court to prevent Dynegy from taking over the\npipeline.\n\n     The dispute came after Dynegy canceled its $23 billion buyout\nagreement with Enron on Wednesday. Dynegy had invested $1.5\nbillion in Enron to help keep it running until the merger could be\ncompleted. To back its investment, Dynegy got all the preferred\nstock in the Northern Natural line.", "clipped": true, "phrase": "Dynegy Inc., answering a\nlawsuit filed as part of Enron Corp.'s Chapter 11 bankruptcy\nfiling yesterday, sued in a Texas court to gain control of Enron's\nNorthern Natural Gas Co. pipeline.", "path": "kitchen-l/_americas/sec_media/2."}, "s1439": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "In a counter suit filed Monday in Harris County, Texas, Dynegy seeks immediate control of the Northern National pipeline company. \nUnder the terms of the cross-town rivals' original merger agreement, Dynegy received an option to buy the coveted property - even if the merger fell apart - after it injected $1.5 billion into Enron. \nNow, however, that's a matter for the courts to decide.", "clipped": true, "phrase": "In a counter suit filed Monday in Harris County, Texas, Dynegy seeks immediate control of the Northern National pipeline company.", "path": "kitchen-l/_americas/sec_media/2."}, "s1442": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "By Alexei Barrionuevo and Rebecca Smith\nStaff Reporters of The Wall Street Journal\n\n12/04/2001\nThe Wall Street Journal\nA10\n(Copyright (c) 2001, Dow Jones & Company, Inc.)\n\nStriking back in what is shaping up as a nasty fight, Dynegy Inc. sued Enron Corp. to try to take control of Enron's flagship Northern Natural Gas Co. pipeline system, as investors continued to punish Dynegy for its failed gambit to acquire Enron. \nThe suit was filed the day after Enron filed for protection under Chapter 11 of the U.S. Bankruptcy Code and filed a $10 billion lawsuit against Dynegy, claiming its down-the-street rival breached its merger agreement by breaking off the deal this past week.", "clipped": true, "phrase": "Striking back in what is shaping up as a nasty fight, Dynegy Inc. sued Enron Corp. to try to take control of Enron's flagship Northern Natural Gas Co. pipeline system", "path": "kitchen-l/_americas/sec_media/1."}, "s1430": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "agreement with Enron on Wednesday. Dynegy had invested $1.5\nbillion in Enron to help keep it running until the merger could be\ncompleted. To back its investment, Dynegy got all the preferred\nstock in the Northern Natural line.\n\n     Enron's suit accuses Dynegy of using the takeover bid to get\nthe pipeline and remove, rather than rescue, a competitor. Dynegy\nsays Enron didn't disclose all the debt it was obligated to pay\nand that it clearly has the right back out of the merger and take\nover the line or get its $1.5 billion back with interest.\n\n     Dynegy's suit in Harris County District Court in Houston\nseeks a temporary injunction to force Enron to transfer the 16,500-\nmile pipeline to Dynegy, citing a provision in the buyout that", "clipped": true, "phrase": "Enron's suit accuses Dynegy of using the takeover bid to get\nthe pipeline and remove, rather than rescue, a competitor.", "path": "kitchen-l/_americas/sec_media/2."}, "s1454": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "ys Dynegy breached its contract by backing away from the merger and isn't entitled to the pipeline. Enron's lawsuit claims that Dynegy contributed to Enron's failure by raising doubts about the company and that Dynegy took advantage of Enron's precarious situation to further its own business goals. \"By terminating the merger agreement, Dynegy sought to put an end to Enron as a competitive force,\" the lawsuit said. \n\"They [Dynegy] didn't have a legitimate reason for backing away from the deal,\" said Mr. Palmer, the Enron spokesman. \nMr. Bergstrom called Enron's lawsuit the equivalent of a \"drowning man grabbing for something on the way down.\"", "clipped": true, "phrase": "\"By terminating the merger agreement, Dynegy sought to put an end to Enron as a competitive force,\" the lawsuit said.", "path": "kitchen-l/_americas/sec_media/1."}, "s1431": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "billion in Enron to help keep it running until the merger could be\ncompleted. To back its investment, Dynegy got all the preferred\nstock in the Northern Natural line.\n\n     Enron's suit accuses Dynegy of using the takeover bid to get\nthe pipeline and remove, rather than rescue, a competitor. Dynegy\nsays Enron didn't disclose all the debt it was obligated to pay\nand that it clearly has the right back out of the merger and take\nover the line or get its $1.5 billion back with interest.\n\n     Dynegy's suit in Harris County District Court in Houston\nseeks a temporary injunction to force Enron to transfer the 16,500-\nmile pipeline to Dynegy, citing a provision in the buyout that\nallowed Dynegy ``automatic possession'' of the pipeline if the\nacquisition fell through. Dynegy also asked that the court\npermanently award it the pipeline.\n\n     Shares of Dynegy fell $3.18, or 10 percent, to $27.17. Enron", "clipped": true, "phrase": "Dynegy\nsays Enron didn't disclose all the debt it was obligated to pay\nand that it clearly has the right back out of the merger and take\nover the line or get its $1.5 billion back with interest.", "path": "kitchen-l/_americas/sec_media/2."}, "s1432": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "the pipeline and remove, rather than rescue, a competitor. Dynegy\nsays Enron didn't disclose all the debt it was obligated to pay\nand that it clearly has the right back out of the merger and take\nover the line or get its $1.5 billion back with interest.\n\n     Dynegy's suit in Harris County District Court in Houston\nseeks a temporary injunction to force Enron to transfer the 16,500-\nmile pipeline to Dynegy, citing a provision in the buyout that\nallowed Dynegy ``automatic possession'' of the pipeline if the\nacquisition fell through. Dynegy also asked that the court\npermanently award it the pipeline.\n\n     Shares of Dynegy fell $3.18, or 10 percent, to $27.17. Enron\nrose 14 cents to 40 cents. Both companies are based in Houston.\n\n--Jim Kennett and Margot Habiby in Houston, (713) 353-XXXX,", "clipped": true, "phrase": "Dynegy's suit in Harris County District Court in Houston\nseeks a temporary injunction to force Enron to transfer the 16,500-\nmile pipeline to Dynegy", "path": "kitchen-l/_americas/sec_media/2."}, "s1455": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "Litigation between Enron and its erstwhile merger partner, Dynegy Inc., is also expected to trigger many billable hours. Dynegy, which sued Enron yesterday, seeking the right to complete the acquisition of Enron's crown jewel pipeline system, has retained Houston firm Baker Botts, along with Akin Gump Strauss Hauer & Feld, based in Dallas and Washington. Enron, which launched its own pre-emptive lawsuit in bankruptcy court on Sunday against Dynegy, is represented by Weil securities litigator Greg Danilow and corporate chief Thomas Roberts, who recently handled AMR Corp.'s acquisition of Trans World Airlines in Delaware bankruptcy court.", "clipped": true, "phrase": "Dynegy, which sued Enron yesterday, seeking the right to complete the acquisition of Enron's crown jewel pipeline system, has retained Houston firm Baker Botts, along with Akin Gump Strauss Hauer &amp; Feld, based in Dallas and Washington.", "path": "kitchen-l/_americas/sec_media/1."}, "s1456": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "\"They [Dynegy] didn't have a legitimate reason for backing away from the deal,\" said Mr. Palmer, the Enron spokesman. \nMr. Bergstrom called Enron's lawsuit the equivalent of a \"drowning man grabbing for something on the way down.\" \nMr. Bergstrom said that Dynegy \"likely won't do any\" post-bankruptcy business with Enron, \"at least until they recognize our claim on Northern Natural.\" He added that \"no amount of money can restore Dynegy's confidence and credibility with Enron.\"", "clipped": true, "phrase": "Mr. Bergstrom called Enron's lawsuit the equivalent of a \"drowning man grabbing for something on the way down.\"", "path": "kitchen-l/_americas/sec_media/1."}, "s6": {"from": "christi.nicolay@enron.com", "to": "john.moore@enron.com, bill.moore@enron.com, marchris.robinson@enron.com,   \tkathleen.magruder@enron.com, patrick.hanse@enron.com,   \ttom.dutta@enron.com, greg.woulfe@enron.com, bill.rust@enron.com,   \tkevin.presto@enron.com, lloyd.will@enro", "subject": "Aquila v. Entergy", "text": "stating that  use of the transmission system on a non-preferential basis is a \nfundamental condition for market-based rates.  (Entergy argued against this \nsaying that there was no allegation that it had profited.  FERC rejected this \nargument.)  Dynegy has already protested Entergy's 3 year update stating that \nEntergy is exercising market power by limiting new generation through poor \ninterconnection procedures and agreements.  Enron filed one sentence support \nof Dynegy's protest.  I think this is why Entergy recently filed its \ninterconnection agreement and procedures at FERC.\n\nComm. Herbert dissented saying that this was a \"technically\" from several \nyears ago.\n\nWatch for this type of activity from other providers.", "clipped": true, "phrase": "Dynegy has already protested Entergy's 3 year update stating that \nEntergy is exercising market power by limiting new generation through poor \ninterconnection procedures and agreements.", "path": "kean-s/all_documents/399."}, "s7": {"from": "christi.nicolay@enron.com", "to": "john.moore@enron.com, bill.moore@enron.com, marchris.robinson@enron.com,   \tkathleen.magruder@enron.com, patrick.hanse@enron.com,   \ttom.dutta@enron.com, greg.woulfe@enron.com, bill.rust@enron.com,   \tkevin.presto@enron.com, lloyd.will@enro", "subject": "Aquila v. Entergy", "text": "saying that there was no allegation that it had profited.  FERC rejected this \nargument.)  Dynegy has already protested Entergy's 3 year update stating that \nEntergy is exercising market power by limiting new generation through poor \ninterconnection procedures and agreements.  Enron filed one sentence support \nof Dynegy's protest.  I think this is why Entergy recently filed its \ninterconnection agreement and procedures at FERC.\n\nComm. Herbert dissented saying that this was a \"technically\" from several \nyears ago.\n\nWatch for this type of activity from other providers.", "clipped": true, "phrase": "Enron filed one sentence support \nof Dynegy's protest.", "path": "kean-s/all_documents/399."}, "s20": {"from": "richard.shapiro@enron.com", "to": "steven.kean@enron.com", "subject": "Joe's group accomplishments in 2000 SO FAR!!", "text": "to protest this issue in TECO's initial filing.  Enron is planning to site \ngeneration in Florida, but we don't have the value on this win yet.\n\n             (8)  FERC issued a NOPR on January 28 proposing to revise the \nway it assesses annual charges to public utilities.  Enron, along with \nseveral other participants (Dynegy, Koch, APX, Citizens, NP Energy, Sonat and \nWilliams), filed a petition for rulemaking with FERC in August, 1998, \nrequesting FERC to revise its methodology for assessing annual charges, \narguing that FERC's current system of assessing annual charges on sales for \nresale of power discourages trading, impedes reliance on competitive markets \nfor power, and could create competitive advantages for utilities over new \npower marketers entering the market.  We proposed that FERC either assess its", "clipped": true, "phrase": "Enron, along with \nseveral other participants (Dynegy, Koch, APX, Citizens, NP Energy, Sonat and \nWilliams), filed a petition for rulemaking with FERC in August, 1998", "path": "kean-s/all_documents/453."}, "s24": {"from": "christi.nicolay@enron.com", "to": "kevin.presto@enron.com, joe.hartsoe@enron.com, sarah.novosel@enron.com,   \trichard.ingersoll@enron.com, steven.kean@enron.com,   \trichard.shapiro@enron.com, charles.yeung@enron.com,   \tben.jacoby@enron.com, kellie.metcalf@enron.com, john.mo", "subject": "Protests of Entergy Source and Sink", "text": "A number of parties protested Entergy's Source and Sink filing at FERC based \non arguments similar to ours (discriminatory treatment of PTP \ncustomers/Generation only control areas approved by NERC).  As you can see, \nTDUs and utilities joined in on this.:\n\nDynegy Power Marketing\nAquila Energy Marketing\nPeco Energy Co. \nMunicipal Energy Agency of Miss.; Lafayette Utilities System; and the \nLousiana Energy and Power Authority (who pointed out that Entergy's proposal \ncould,  perhaps, only work in a big, regional system and that Entergy had \nleft SPP)\nCoral Power, ELCON and Enron\nVEPCO (who now owns an approved generation only control connected to Entergy", "clipped": true, "phrase": "TDUs and utilities joined in on this.:\n\nDynegy Power Marketing", "path": "kean-s/all_documents/498."}, "s25": {"from": "christi.nicolay@enron.com", "to": "steven.kean@enron.com, mark.palmer@enron.com", "subject": "TODAY'S FILINGS ATTACHED", "text": "Below is the filing Enron made yesterday protesting Entergy Power Marketing's \nrequest to continue Market Based Rates.  Aquila and Dynegy also filed good \nprotests.  I will separately email the charts that were attached to Enron's \nfiling once I receive them later today.  \n\nAlso, Enron has filed (1) a protest of Entergy's request to require \n\"ultimate\" \"Valid\" source and sink (no sinks to generation only control \nareas) on all reservations and (2) comments on Entergy's proposed \ninterconnection procedures and agreement (note: this was struck from FERC's", "clipped": true, "phrase": "Aquila and Dynegy also filed good \nprotests.", "path": "kean-s/all_documents/549."}, "s27": {"from": "christi.nicolay@enron.com", "to": "jeff.brown@enron.com, charles.yeung@enron.com, richard.ingersoll@enron.com,   \tjoe.hartsoe@enron.com, sarah.novosel@enron.com", "subject": "APX presentation", "text": "APX's presentation about purchasing transmission rights over constrained \nflowgates.  Discussed at Dynegy last week and to be presented to FERC on May \n24 by APX.\n---------------------- Forwarded by Christi L Nicolay/HOU/ECT on 05/18/2000 \n11:31 AM ---------------------------\n\n\"Edward G. Cazalet\" <ed@apx.com> on 05/17/2000 07:06:11 AM\nPlease respond to <ed@apx.com>\nTo: <mado@dynegy.com>, <jdauphinais@consultbai.com>, \n<David.a.cheshire@exxon.com>, <erobertson@lrklaw.com>, <KING@KMLAW.COM>, \n<skroger@mdck.com>, <ringersoll@enron.com>, <cnicola@enron.com>,", "clipped": true, "phrase": "Discussed at Dynegy last week and to be presented to FERC on May", "path": "kean-s/all_documents/593."}, "s28": {"from": "christi.nicolay@enron.com", "to": "jeff.brown@enron.com, charles.yeung@enron.com, richard.ingersoll@enron.com,   \tjoe.hartsoe@enron.com, sarah.novosel@enron.com", "subject": "APX presentation", "text": "Shipp@Illinois_Power\ncc:\nSubject:  Notes from May 11th LMP Meeting\n\nFor those of you who attended and for those of you who couldn't but are\ninterested in what transpired, I've attached notes from the meeting.  Thanks\nfor\nall your interest.  We feel Thursday was a very positive meeting, but there\nis\nplenty of work ahead.\n\n(See attached file: Notes from the May 11th LMP Meeting.doc)\n\n  Mary J. Doyle\n   Director of Regulatory Policy\n   Dynegy, Inc.\n   Phone: 202.216.XXXX\n   Fax:       202.842.XXXX\n\n - Alternatives to LMP Notes EGC.doc\n - apx.zip", "clipped": true, "phrase": "We feel Thursday was a very positive meeting, but there", "path": "kean-s/all_documents/593."}, "s32": {"from": "christi.nicolay@enron.com", "to": "richard.shapiro@enron.com, steven.kean@enron.com, joe.hartsoe@enron.com", "subject": "dynegy", "text": "This discusses Dynegy's comments on FERC's Notice of Interim Reliability \nmeasure for this summer.  Enron participated through EPSA (see my separate \nemail)\n---------------------- Forwarded by Christi L Nicolay/HOU/ECT on 06/05/2000 \n05:25 PM ---------------------------\n\nKathryn Corbally@ENRON\n06/05/2000 05:04 PM\nTo: Christi L Nicolay/HOU/ECT@ECT\ncc:  \nSubject: dynegy\n\nThis is DYN's press release that refers to the FERC 's May 18 notice...?\n\nMANY THANKS\nKATHRYN", "clipped": false, "phrase": "This discusses Dynegy's comments on FERC's Notice of Interim Reliability", "path": "kean-s/all_documents/634."}, "s43": {"from": "kay.mann@enron.com", "to": "nwodka@bracepatt.com", "subject": "Re: VEPCO PPA", "text": "do the due diligence on the site with regards to some of the siting issues.  \nIN addition, in NC we are going to get a CPCN to site the plant to speed up \nthe regulatory process in the NCUC.  I think that this will make the issue \nless contentious because of the NCUC's acceptance of the Dynegy plant at \nRockingham that had a PPA with Duke Power.  \n\nUsing the Dynegy plant as a guideline, their only stumbling block was their \ngas agreeement.  They built a bypass off Transco.  We would be taking gas \nfrom the LDC of Rocky Mount.  Having talked with the regulatory folks at the \nNCUC who handle gas issues, this is the preferred route.  So, I do not think \nthat we have any major state issues.  I think that right now we are simply \nworking on some of the siting issues.", "clipped": true, "phrase": "the NCUC's acceptance of the Dynegy plant at \nRockingham that had a PPA with Duke Power.", "path": "mann-k/_sent_mail/4009."}, "s44": {"from": "kay.mann@enron.com", "to": "nwodka@bracepatt.com", "subject": "Re: VEPCO PPA", "text": "IN addition, in NC we are going to get a CPCN to site the plant to speed up \nthe regulatory process in the NCUC.  I think that this will make the issue \nless contentious because of the NCUC's acceptance of the Dynegy plant at \nRockingham that had a PPA with Duke Power.  \n\nUsing the Dynegy plant as a guideline, their only stumbling block was their \ngas agreeement.  They built a bypass off Transco.  We would be taking gas \nfrom the LDC of Rocky Mount.  Having talked with the regulatory folks at the \nNCUC who handle gas issues, this is the preferred route.  So, I do not think \nthat we have any major state issues.  I think that right now we are simply \nworking on some of the siting issues.\n\nThat being said, I will let you take a look at the PPA and let me know or \nJeff Keenan (or even Heather Kroll or Ozzie Pagan) if you think that there", "clipped": true, "phrase": "Using the Dynegy plant as a guideline, their only stumbling block was their \ngas agreeement.  They built a bypass off Transco.", "path": "mann-k/_sent_mail/4009."}, "s48": {"from": "susan.mara@enron.com", "to": "tim.belden@enron.com, robert.badeer@enron.com, mona.petrochko@enron.com,   \tjeff.dasovich@enron.com, james.steffes@enron.com,   \tpaul.kaufman@enron.com, bruno.gaillard@enron.com,   \telsa.piekielniak@enron.com, scott.vonderheide@enron.com,  ", "subject": "Info on Response to the EOB Subpoena and Price Caps", "text": "deadline and requesting a meeting to sit down and talk about how to maintain \nconfidentiality. He said his attorneys believe that the EOB's subpoena \nauthority is \"questionable\" but that Southern didn't want to have a fight \nabout it in court.\n\nOn price caps, Rob also mentioned that he had heard that Greg Blue (Dynegy) \nwas going around trying to get a group together to support a motion for $250 \n!! He said that Richardson (DOE) told the WAPA Board member not to support a \nlower price cap. (but then, someone else told me the opposite -- I'll let you \nknow if I hear more on that).\n\nWe still have Enron people working on four Board members to see if we can get \none to turn.", "clipped": true, "phrase": "Rob also mentioned that he had heard that Greg Blue (Dynegy) \nwas going around trying to get a group together to support a motion for $250", "path": "sanders-r/all_documents/299."}, "s53": {"from": "james.steffes@enron.com", "to": "sarah.novosel@enron.com, jeff.dasovich@enron.com, mary.hain@enron.com", "subject": "EPSA Marketer Conf. Call", "text": "PECO Power Team (new member) says this paper goes a step further than the \nEPSA paper -- while PECO is very comfortable with the EPSA paper, they are \nvery uncomfortable with the TPC -- more strident and takes positions that \nPECO could not support\nDynegy person asks is this tying in with the coalitions working in the \nindividual regional RTO negotiations.  Mark said no.  Julie says its not \nsupposed to be responsive to one RTO proposal -- SPP, Midwest, etc.\nDuke has not yet read the paper -- everyone decided to hold off discussions \nto the next call\n\n5.  Elcon holding transmission customer meetings to plan for upcoming NERC \nmeetings.  Charles Yeung is active in  this.\n\n6.  Louisiana PSC Technical Conference\n\nEPSA cannot participate in this technical conference being held on August 29", "clipped": true, "phrase": "Dynegy person asks is this tying in with the coalitions working in the \nindividual regional RTO negotiations.  Mark said no.", "path": "kean-s/all_documents/1061."}, "s62": {"from": "gloria.solis@enron.com", "to": "steven.kean@enron.com", "subject": "SPP interconnection procedures", "text": "Customer; however, SPP is not required to allow a third party contractor in \nany instance that it cannot meet the time frames for study completion.\nThe current queued customer will bear the costs of completing a new study if \nsomeone in the queue before it withdraws.  (Dynegy asked that the withdrawing \ncustomer should pay for any new studies required by others.)\nWhile SPP is required to provide notice if the study will take more than 60 \ndays, it is not bound to complete a study in 60 days (if more time is \nreasonably needed.)\nIf transmission is not purchased, the customer is responsible for the costs \nof upgrades that are needed \"but for\" the interconnection.  However, once \ntransmission is requested, SPP is limited to charging the higher of (i) the", "clipped": true, "phrase": "(Dynegy asked that the withdrawing \ncustomer should pay for any new studies required by others.)", "path": "kean-s/all_documents/1295."}, "s60": {"from": "mary.hain@enron.com", "to": "smara@enron.com", "subject": "Re: ANSWERING YOUR QUESTIONS ON CA TRANSMISSION ACCESS", "text": "interruptible -- but once the ISO started, all of a sudden, the muni rights\nbecame super firm superceding the IOU rights (as far as we can tell from\nsketchy filings and discussions with ISO staff). That's why we have pushed\nthe issue.  Also, Dynegy and Power Exchange (not the PX) have rights on\nPath 15.  Tim Belden would love to get some info on how that constaint is\nbeing operated.\n\nInformation in general is pretty sketchy on real-time transmission.  We\nhave complained to the ISO about how the ISO knows what's going on in\ntransmission (as do the utilities), changes what it does, which then\nchanges prices, and then doesn't tell us until after the fact.  The ISO has\npromised to do better, but I don't think has implemented any real changes\nyet.", "clipped": true, "phrase": "Also, Dynegy and Power Exchange (not the PX) have rights on\nPath 15.", "path": "kean-s/all_documents/1296."}, "s61": {"from": "mary.hain@enron.com", "to": "smara@enron.com", "subject": "Re: ANSWERING YOUR QUESTIONS ON CA TRANSMISSION ACCESS", "text": "situation.  The \"sanctity of contracts\" under any and all conditions has\ncreated preference for incumbents (not the IOUs -- but everyone who had a\ntransmission contract with the IOUs) and poor rights for those poor\nschlepps like us who have come into the new market.  The ISO cannot operate\nthe system this way and is forced to give the munis/Dynegy more than they\nhad originally and to let them do things no one else can do (e.g., some\nmunis get to change their schedule after the actrive hour begins, some get\nto do it every half hour, so far most haven't had to pay for ancillary\nservices, etc.)\n\nThere are many, many examples of how we are discriminated against (in\naddition to Path 15) and of how FERC has shined us on -- but yet we fight\non. The most recent muni giveaway is the litigation surrounding the \"new\"", "clipped": true, "phrase": "The ISO cannot operate\nthe system this way and is forced to give the munis/Dynegy more than they\nhad originally and to let them do things no one else can do", "path": "kean-s/all_documents/1296."}, "s116": {"from": "ann.schmidt@enron.com", "to": "mark.palmer@enron.com, karen.denne@enron.com, meredith.philipp@enron.com,   \tsteven.kean@enron.com, elizabeth.linnell@enron.com,   \teric.thode@enron.com, laura.schwartz@enron.com,   \tjeannie.mandelker@enron.com, mary.clark@enron.com,   \tdam", "subject": "Enron Mentions", "text": "Copyright , 2000 Dow Jones & Company, Inc. All Rights Reserved. \n\nDynegy: Calif Price Caps Will Compromise Elec Reliability\n\n10/27/2000\nDow Jones Energy Service\n(Copyright (c) 2000, Dow Jones & Company, Inc.)\n\nLOS ANGELES -(Dow Jones)- A Dynegy executive said Friday that the California \nIndependent System Operator's plan to impose hourly price caps on the \nwholesale power market will compromise reliability by forcing generators to \nsell electricity out of state.\n\"If the ISO says it will not buy above a certain price and generators cannot \noperate below that price, then we have no choice but to find other markets to \nparticipate in,\" said Dynegy senior vice president of marketing and trading \nasset management Lynn Lednicky. \"That may lead to the ISO not finding the \npower it needs at a price it wants to pay.\" \nThe ISO plans to construct hourly price caps each month based on forecast", "clipped": true, "phrase": "A Dynegy executive said Friday that the California \nIndependent System Operator's plan to impose hourly price caps on the \nwholesale power market will compromise reliability by forcing generators to \nsell electricity out of state.", "path": "kean-s/all_documents/1741."}, "s117": {"from": "ann.schmidt@enron.com", "to": "mark.palmer@enron.com, karen.denne@enron.com, meredith.philipp@enron.com,   \tsteven.kean@enron.com, elizabeth.linnell@enron.com,   \teric.thode@enron.com, laura.schwartz@enron.com,   \tjeannie.mandelker@enron.com, mary.clark@enron.com,   \tdam", "subject": "Enron Mentions", "text": "wholesale power market will compromise reliability by forcing generators to \nsell electricity out of state.\n\"If the ISO says it will not buy above a certain price and generators cannot \noperate below that price, then we have no choice but to find other markets to \nparticipate in,\" said Dynegy senior vice president of marketing and trading \nasset management Lynn Lednicky. \"That may lead to the ISO not finding the \npower it needs at a price it wants to pay.\" \nThe ISO plans to construct hourly price caps each month based on forecast \nload, natural gas prices and generation unit efficiency. The caps will take \neffect Nov. 3 or soon therafter. \nDynegy Inc. (DYN) sent a letter to the Federal Energy Regulatory Commission \nasking it to address reliability consequences of the price caps before Nov. \n3. Dynegy specifically requested that FERC discuss the issue at its Nov. 1", "clipped": true, "phrase": "said Dynegy senior vice president of marketing and trading \nasset management Lynn Lednicky. \"That may lead to the ISO not finding the \npower it needs at a price it wants to pay.\"", "path": "kean-s/all_documents/1741."}, "s118": {"from": "ann.schmidt@enron.com", "to": "mark.palmer@enron.com, karen.denne@enron.com, meredith.philipp@enron.com,   \tsteven.kean@enron.com, elizabeth.linnell@enron.com,   \teric.thode@enron.com, laura.schwartz@enron.com,   \tjeannie.mandelker@enron.com, mary.clark@enron.com,   \tdam", "subject": "Enron Mentions", "text": "power it needs at a price it wants to pay.\" \nThe ISO plans to construct hourly price caps each month based on forecast \nload, natural gas prices and generation unit efficiency. The caps will take \neffect Nov. 3 or soon therafter. \nDynegy Inc. (DYN) sent a letter to the Federal Energy Regulatory Commission \nasking it to address reliability consequences of the price caps before Nov. \n3. Dynegy specifically requested that FERC discuss the issue at its Nov. 1 \nmeeting, when it will release a report on California's electricity problems. \nEnron Corp. (ENE) and Southern Company (SO) share Dynegy's concerns about \nreliability and plan to petition FERC about the issue, said a trader \nlistening in to a conference call between the three companies. \n-By Jessica Berthold, Dow Jones Newswires; 323-658-XXXX; \njessica.berthold@dowjones.com", "clipped": true, "phrase": "Dynegy Inc. (DYN) sent a letter to the Federal Energy Regulatory Commission \nasking it to address reliability consequences of the price caps before Nov. \n3.", "path": "kean-s/all_documents/1741."}, "s119": {"from": "ann.schmidt@enron.com", "to": "mark.palmer@enron.com, karen.denne@enron.com, meredith.philipp@enron.com,   \tsteven.kean@enron.com, elizabeth.linnell@enron.com,   \teric.thode@enron.com, laura.schwartz@enron.com,   \tjeannie.mandelker@enron.com, mary.clark@enron.com,   \tdam", "subject": "Enron Mentions", "text": "asking it to address reliability consequences of the price caps before Nov. \n3. Dynegy specifically requested that FERC discuss the issue at its Nov. 1 \nmeeting, when it will release a report on California's electricity problems. \nEnron Corp. (ENE) and Southern Company (SO) share Dynegy's concerns about \nreliability and plan to petition FERC about the issue, said a trader \nlistening in to a conference call between the three companies. \n-By Jessica Berthold, Dow Jones Newswires; 323-658-XXXX; \njessica.berthold@dowjones.com\n\nCopyright , 2000 Dow Jones & Company, Inc. All Rights Reserved. \n\nSEC Filing Shows 3rd Parties Contacted Enron About Azurix\nBy Christopher C. Williams\n\n10/27/2000\nDow Jones News Service\n(Copyright (c) 2000, Dow Jones & Company, Inc.)\n\nOf DOW JONES NEWSWIRES \n\nNew York -(Dow Jones)- Shares of Azurix Corp. (AZX) jumped 84% in heavy", "clipped": true, "phrase": "Enron Corp. (ENE) and Southern Company (SO) share Dynegy's concerns about \nreliability and plan to petition FERC about the issue, said a trader \nlistening in to a conference call between the three companies.", "path": "kean-s/all_documents/1741."}, "s126": {"from": "mary.hain@enron.com", "to": "steven.kean@enron.com", "subject": "Your request for presentations", "text": "will provide solutions (below the retail price cap) if we get the utility \n(and the regulators) out of the merchant function.\nHerding the cats(Hartsoe/mccubbin/mara/dasovich):  We are asking FERC to be \ncourageous, do the right thing and ignore the politics.  To be even halfway \ncredible, we can't have IEP, EPSA, Dynegy or anyone else \"squishing\" on the \nprice cap issue..  We have never been closer to reform in California, we need \nthese guys on board.\nThanks.", "clipped": true, "phrase": "we can't have IEP, EPSA, Dynegy or anyone else \"squishing\" on the \nprice cap issue..", "path": "kean-s/all_documents/1843."}, "s127": {"from": "steven.kean@enron.com", "to": "paul.kaufman@enron.com, tim.belden@enron.com, richard.shapiro@enron.com,   \tjeff.dasovich@enron.com, susan.mara@enron.com,   \tsandra.mccubbin@enron.com, david.parquet@enron.com,   \tmary.hain@enron.com, joe.hartsoe@enron.com, james.steffes@e", "subject": "", "text": "will provide solutions (below the retail price cap) if we get the utility \n(and the regulators) out of the merchant function.\nHerding the cats(Hartsoe/mccubbin/mara/dasovich):  We are asking FERC to be \ncourageous, do the right thing and ignore the politics.  To be even halfway \ncredible, we can't have IEP, EPSA, Dynegy or anyone else \"squishing\" on the \nprice cap issue..  We have never been closer to reform in California, we need \nthese guys on board.\nThanks.", "clipped": true, "phrase": "credible, we can't have IEP, EPSA, Dynegy or anyone else \"squishing\" on the \nprice cap issue..  We have never been closer to reform in California", "path": "kean-s/all_documents/1837."}, "s131": {"from": "steven.kean@enron.com", "to": "elizabeth.linnell@enron.com", "subject": "", "text": "any others, offer made to SDG&E -- I want to make the point that the market \nwill provide solutions (below the retail price cap) if we get the utility \n(and the regulators) out of the merchant function.\nHerding the cats(Hartsoe/mccubbin/mara/dasovich):  We are asking FERC to be \ncourageous, do the right thing and ignore the politics.  To be even halfway \ncredible, we can't have IEP, EPSA, Dynegy or anyone else \"squishing\" on the \nprice cap issue..  We have never been closer to reform in California, we need \nthese guys on board.\nThanks.", "clipped": true, "phrase": "We are asking FERC to be \ncourageous, do the right thing and ignore the politics.  To be even halfway \ncredible, we can't have IEP, EPSA, Dynegy or anyone else \"squishing\" on the \nprice cap issue..", "path": "kean-s/all_documents/1844."}, "s139": {"from": "donna.fulton@enron.com", "to": "steven.kean@enron.com", "subject": "Re: Comments on FERC November 1 order", "text": "months) and specified rate, and that all loads must buy a minimum percentage \nof their needs from this contract.\nA staffer (Don Gelinas) asked whether the forward/bilateral market \n(presumably uncapped) could take care of investment recovery so that \ngeneration not be cancelled in California.\nDynegy and other marketers raised the issue of the test to be used by the \nCommission in reviewing transactions above the soft cap.  Specifically, what \nis opportunity cost?  As long as the test is not known until after the fact, \nthere will be lack of secuity selling into the California and greater \nincentive to sell elsewhere.\nHobbs from Williams raised the possibility that if the Commission does not \neliminate the soft cap (his preferred approach), that the cap should be", "clipped": true, "phrase": "Dynegy and other marketers raised the issue of the test to be used by the", "path": "kean-s/all_documents/1933."}, "s140": {"from": "steven.kean@enron.com", "to": "mary.hain@enron.com, susan.mara@enron.com, jeff.dasovich@enron.com", "subject": "Re: Comments on FERC November 1 order", "text": "months) and specified rate, and that all loads must buy a minimum percentage \nof their needs from this contract.\nA staffer (Don Gelinas) asked whether the forward/bilateral market \n(presumably uncapped) could take care of investment recovery so that \ngeneration not be cancelled in California.\nDynegy and other marketers raised the issue of the test to be used by the \nCommission in reviewing transactions above the soft cap.  Specifically, what \nis opportunity cost?  As long as the test is not known until after the fact, \nthere will be lack of secuity selling into the California and greater \nincentive to sell elsewhere.\nHobbs from Williams raised the possibility that if the Commission does not \neliminate the soft cap (his preferred approach), that the cap should be", "clipped": true, "phrase": "Dynegy and other marketers raised the issue of the test to be used by the", "path": "kean-s/all_documents/1959."}, "s143": {"from": "steven.kean@enron.com", "to": "maureen.mcvicker@enron.com", "subject": "FERC at Enron -- Dec. 7", "text": "that track OASIS and market information.  Many of them have not seen EOL, so \nwe need to show them that as well.\n\nThe fact that this group is made up of so many FERC office directors means \nthat this visit comes at the request of the Chairman Hoecker.  They will be \nvisiting Dynegy and El Paso later that day.\n\nThey are definitely interested in a good presentation from Enron, as we have \ngiven them in the past -- primarily because they met so many senior Enron \nexecutives.  It would be great if Dave Delainey or John Lavorato could also \ncome by to meet them.\n\nThanks.\n---------------------- Forwarded by Christi L Nicolay/HOU/ECT on 11/28/2000 \n07:40 AM ---------------------------\n\n----- Forwarded by Donna Fulton/Corp/Enron on 11/28/2000 09:51 AM -----", "clipped": true, "phrase": "visiting Dynegy and El Paso later that day.", "path": "kean-s/all_documents/2050."}, "s180": {"from": "mary.hain@enron.com", "to": "sarah.novosel@enron.com, donna.fulton@enron.com, mike.smith@enron.com,   \tdennis.benevides@enron.com, neil.bresnan@enron.com,   \tharry.kingerski@enron.com, christian.yoder@enron.com,   \ttim.belden@enron.com, steve.c.hall@enron.com,   \tricha", "subject": "List of Issues", "text": "We have put together the following list of issues for the request for \nrehearing of the FERC's November 15 order.  We would appreciate your input \nabout whether to pursue these issues and we will still have to decide who \nwill write up the various issues (Alan, Bracewell, WPTF, or EPSA).  Requests \nfor rehearing are due on January 14, 2001.\n\nWe oppose doing away with the opportunity cost standard under the soft cap \nand not establishing a standard of reasonable profit\n$150 cap too low (is there any point in raising this issue again?)\nBenchmarks for forward contracts - The FERC should clarify that it will not \nbe applying this to anything other than Cal IOU contracts.\nThe FERC should clarify its statement that \"to the extent the IOUs' resources \nexceed their load at various times, they are free to sell any surplus at \nwholesale, pursuant to their Commission-filed rates schedules.\"  A lite", "clipped": true, "phrase": "The FERC should not have rejected Dynegy &amp; Reliant complaint concerning being", "path": "sanders-r/all_documents/1168."}, "s182": {"from": "alan.comnes@enron.com", "to": "susan.mara@enron.com", "subject": "Re: There is No Christmas for CA -- NEW FERC Filings", "text": "seeks refunds, cost of service rates, elimination of market-based rate \nauthority and more.\n\n12/20/00 - CA Bureau of Audit opposes the emergency motion of the generators \nto require FERC-like confidentiality provisions to apply to data requested \nfrom the ISO.\n\n12/22/00 -  Dynegy files complaint - EL01-23-000 - alleging discriminatory \nuse of OOM by the ISO against in-state generators.  Seeks pricing above \nshort-run marginal costs plus 15% on a temporary basis and to prohibit the \nISO from using OOM for non-emergency conditions (I thought we won that one a \nwhile ago).  And more ...\n\n12/22/00 - Dynegy seeks clarification on FERC's 12/15 order -- wants FERC to \nclarify that standard commercial practices will be used to deal with the", "clipped": true, "phrase": "Dynegy files complaint - EL01-23-000 - alleging discriminatory", "path": "sanders-r/all_documents/1205."}, "s183": {"from": "alan.comnes@enron.com", "to": "susan.mara@enron.com", "subject": "Re: There is No Christmas for CA -- NEW FERC Filings", "text": "to require FERC-like confidentiality provisions to apply to data requested \nfrom the ISO.\n\n12/22/00 -  Dynegy files complaint - EL01-23-000 - alleging discriminatory \nuse of OOM by the ISO against in-state generators.  Seeks pricing above \nshort-run marginal costs plus 15% on a temporary basis and to prohibit the \nISO from using OOM for non-emergency conditions (I thought we won that one a \nwhile ago).  And more ...\n\n12/22/00 - Dynegy seeks clarification on FERC's 12/15 order -- wants FERC to \nclarify that standard commercial practices will be used to deal with the \nutilties' creditworthiness problems, wants to avoid the IOUs somehow claiming \nthe FERC order obviates their need to be credit worthy. (huh?)", "clipped": true, "phrase": "short-run marginal costs plus 15% on a temporary basis and to prohibit the", "path": "sanders-r/all_documents/1205."}, "s184": {"from": "alan.comnes@enron.com", "to": "susan.mara@enron.com", "subject": "Re: There is No Christmas for CA -- NEW FERC Filings", "text": "use of OOM by the ISO against in-state generators.  Seeks pricing above \nshort-run marginal costs plus 15% on a temporary basis and to prohibit the \nISO from using OOM for non-emergency conditions (I thought we won that one a \nwhile ago).  And more ...\n\n12/22/00 - Dynegy seeks clarification on FERC's 12/15 order -- wants FERC to \nclarify that standard commercial practices will be used to deal with the \nutilties' creditworthiness problems, wants to avoid the IOUs somehow claiming \nthe FERC order obviates their need to be credit worthy. (huh?)\n\n12/26/00 - CalPX files to request for rehearing of FERC's 12/15 order to save \nitself.  It asks to stay the prohibition for the IOUs to sell to the PX, stay \nthe termination of the CTS rate schedule, and stay the $150 \"breakpoint\"", "clipped": true, "phrase": "Dynegy seeks clarification on FERC's 12/15 order -- wants FERC to", "path": "sanders-r/all_documents/1205."}, "s243": {"from": "pmeringolo@brobeck.com", "to": "richard.b.sanders@enron.com", "subject": "Status of Duke Energy v. State and ISO v. Reliant et al.", "text": "> assurances that they would be selling to a creditworthy purchaser because\n> (1) the creditworthy requirement is an essential element of the Tariff;\n> and (2) a 2/14/01 FERC Order held that the creditworthy requirement\n> applies even EDOs.\n>\n>  Dynegy raised an additional argument -- ISO and DWR are using the\n> EDO procedures to get a price below market and that there is no real\n> threat that the lights will go out.  According to Dynegy, DWR can back\n> real time purchases including EDOs, but instead DWR backs only purchases\n> at a certain price below market.  If generators refuse, ISO issues an EDO,\n> with no assurances that the generators will get paid, as a strong arm\n> tactic to get this below market price.  Dynegy argued that the reality is\n> that the lights will not go out because if generators do not abide by the", "clipped": true, "phrase": "Dynegy raised an additional argument -- ISO and DWR are using the\n&gt; EDO procedures to get a price below market and that there is no real\n&gt; threat that the lights will go out.", "path": "sanders-r/all_documents/1570."}, "s245": {"from": "pmeringolo@brobeck.com", "to": "richard.b.sanders@enron.com", "subject": "Status of Duke Energy v. State and ISO v. Reliant et al.", "text": "Richard,\n\n Per Gary's request, here is the status of Duke Energy v. Governor\nDavis and ISO v. Reliant.\n\nDuke v. State of California.\n\n According to a news article, on February 27, 2001, Duke Energy Corp.\nsuspended its lawsuit against Gray Davis and the State \"after the California\nDepartment of Water Resources agreed to buy power from Duke that was\nformerly being provided under contracts with two financially trouble\nutilities.\"\n\n Originally, Duke argued that Governor Davis exceeded his authority\nunder the Emergency Services Act when he commandeered Duke's long-term\ncontracts.\n\n The case is suspended until an April 30 hearing.  I am trying to\nobtain a copy of any order and/or stipulation filed with the Court.\n\nISO v. Reliant, et al.\n\n I.  Brief Summary of Complaint\n\n In ISO v. Reliant, et al., ISO seeks a preliminary injunction to\nrequire six Reliant entities, Williams Energy Marketing & T", "clipped": true, "phrase": "Dynegy argued that the reality is\n&gt; that the lights will not go out because if generators do not abide by the\n&gt; EDOs, DWR has enough money to buy at market rate.", "path": "sanders-r/all_documents/1570."}, "s244": {"from": "pmeringolo@brobeck.com", "to": "richard.b.sanders@enron.com", "subject": "Status of Duke Energy v. State and ISO v. Reliant et al.", "text": "Richard,\n\n Per Gary's request, here is the status of Duke Energy v. Governor\nDavis and ISO v. Reliant.\n\nDuke v. State of California.\n\n According to a news article, on February 27, 2001, Duke Energy Corp.\nsuspended its lawsuit against Gray Davis and the State \"after the California\nDepartment of Water Resources agreed to buy power from Duke that was\nformerly being provided under contracts with two financially trouble\nutilities.\"\n\n Originally, Duke argued that Governor Davis exceeded his authority\nunder the Emergency Services Act when he commandeered Duke's long-term\ncontracts.\n\n The case is suspended until an April 30 hearing.  I am trying to\nobtain a copy of any order and/or stipulation filed with the Court.\n\nISO v. Reliant, et al.\n\n I.  Brief Summary of Complaint\n\n In ISO v. Reliant, et al., ISO seeks a preliminary injunction to\nrequire six Reliant entities, Williams Energy Marketing & T", "clipped": true, "phrase": "According to Dynegy, DWR can back\n&gt; real time purchases including EDOs, but instead DWR backs only purchases\n&gt; at a certain price below market.", "path": "sanders-r/all_documents/1570."}, "s284": {"from": "steven.kean@enron.com", "to": "eric.thode@enron.com", "subject": "Re: Proposed Ad for the Ontario Market", "text": "To: \"'eric.thode@enron.com'\" <eric.thode@enron.com>\ncc:  \n\nSubject: Proposed Ad\n\nEric:\n\nAs requested by Aleck Dadson, please find attached a copy of an open letter\nto the Premier of Ontario which we are proposing be placed as an ad in the\nNational Post and the Globe & Mail next week. It is our intention to have\nthe letter signed by a group of energy stakeholders including Enron,\nTransAlta, ATCO, Toronto Hydro, Mississauga Hydro, Dynegy, The Toronto Board\nof Trade, The Ontario Chamber of Commerce, the Independent Power Producers\nSociety of Ontario, etc.\n\n <<Open Letter.doc>>\n\nSasha Jacob\nGPC International\nsjacob@gpc.ca\nPh:  (416) 598-XXXX\nFx:  (416) 598-XXXX\nwww.gpcinternational.com\n\n*******************************************************************\nThis email message has been swept by MIMEsweeper\nfor the presence of computer viruses", "clipped": true, "phrase": "It is our intention to have\nthe letter signed by a group of energy stakeholders including Enron,\nTransAlta, ATCO, Toronto Hydro, Mississauga Hydro, Dynegy", "path": "kean-s/all_documents/5507."}, "s301": {"from": "suzanne_nimocks@mckinsey.com", "to": "skean@enron.com", "subject": "California Power Crisis Update (No. 10)", "text": "the potential\n      to exercise market power,'' the commission said, there was\n      ''insufficient data''\n      to prove that they did.\n      Some marketers saw the report as an exoneration.\n      ''This has been looked at several times, most notably by the FERC and\n      nobody has\n      found any evidence of market manipulation and profiteering,'' Rob\n      Doty, the\n      chief financial officer of Dynegy Inc., told a reporter earlier this\n      year.\n      California Inquiry\n      The agency has recently shown signs of wanting to apply pressure on\n      generators.\n      But its early efforts show how it is treading on new and uncertain\n      turf.\n      When the California crisis grew severe last December, the commission\n      issued a\n      refund order, a shot across the bow for generators charging high\n      prices. It", "clipped": true, "phrase": "found any evidence of market manipulation and profiteering,'' Rob\n      Doty, the\n      chief financial officer of Dynegy Inc.", "path": "kean-s/all_documents/5405."}, "s353": {"from": "kristin.walsh@enron.com", "to": "john.lavorato@enron.com, louise.kitchen@enron.com", "subject": "California Update 4/20/01", "text": "cost of generating this power, which is something like $25-30/kwh. \n\nMarket-Price Exceptions -- The option allows the Bush administration to have \npolitical credit for imposing price caps. As we write, FERC is currently ,in \nthe process of considering permit renewals for five companies generating \npower in California (Duke, Dynegy, AES, Reliant and Williams).  The permit \ngrants a further three-year waiver that allows them to sell power into \nCalifornia in the existing \"whatever price the market will bear\".  In other \nwords, FERC could simply not grant these companies the right to sell energy \nat the market price, perhaps by changing a definition of controlling market \nshare, and then power to control prices would revert back to FERC.", "clipped": true, "phrase": "power in California (Duke, Dynegy, AES, Reliant and Williams)", "path": "kean-s/all_documents/5150."}, "s357": {"from": "kristin.walsh@enron.com", "to": "john.lavorato@enron.com, louise.kitchen@enron.com", "subject": "California Update 4/20/01", "text": "Market-Price Exceptions -- The option allows the Bush administration to have political credit for imposing price caps. As we write, FERC is currently ,in the process of considering permit renewals for five companies generating power in California (Duke, Dynegy, AES, Reliant and Williams).  The permit grants a further three-year waiver that allows them to sell power into California in the existing \"whatever price the market will bear\".  In other words, FERC could simply not grant these companies the right to sell energy at the market price, perhaps by changing a definition of controlling market share, and then power to control prices would revert back to FERC.", "clipped": true, "phrase": "FERC is currently ,in the process of considering permit renewals for five companies generating power in California (Duke, Dynegy, AES, Reliant and Williams).", "path": "kitchen-l/_americas/regulatory/190."}, "s354": {"from": "kristin.walsh@enron.com", "to": "john.lavorato@enron.com, louise.kitchen@enron.com", "subject": "California Update 4/20/01", "text": "effective power over price capping in California and they have shown no \ndesire on that front. The escape clause for FERC simply to renew the waivers \nis that they are routinely renewed unless the company applying for waivers \ncontrols more than 20% of an electricity market and none of these companies \ncome close.\n\nIn other words, the waivers option lets FERC escape if the Bush \nadministration and FERC commissioners really want to escape. Once again, that \ndecision may be more in the hands of the three Republican Governors than \nanywhere else in the country. But you can be certain that in the past few \ndays Administration officials have become fully aware of the potential", "clipped": true, "phrase": "controls more than 20% of an electricity market and none of these companies", "path": "kean-s/all_documents/5150."}, "s441": {"from": "mmolland@brobeck.com", "to": "richard.b.sanders@enron.com, gfergus@brobeck.com", "subject": "Meeting with Senator Dunn", "text": "Senators Dunn and Bower and their staffs met with representatives of\nMirant, Wiiliams, Duke, Reliant, and Dynegy- and me- for over two hours at\nthe State Capital yesterday. I will report fully on the meeting by telephone\ntomorrow morning, however, this report summarizes the principal issues\ncovered in the session.\n Dunn spent about a half hour describing the scope of his\nsub-committee's investigation. He styled it as an investigation into whether\nanti-competitive behavior has occurred or is occurring in the California", "clipped": true, "phrase": "Mirant, Wiiliams, Duke, Reliant, and Dynegy- and me- for over two hours at", "path": "sanders-r/all_documents/1917."}, "s442": {"from": "richard.sanders@enron.com", "to": "steven.kean@enron.com", "subject": "Gray Davis meeting", "text": "\"Stephen A. Herman\" <steve.herman@neg.pge.com>, \"Sydne Michel\" \n<sydne_michel@la.kirkland.com>, \"Tanya Murphy\" <tanya.murphy@neg.pge.com>, \n\"Tony Richardson\" <tony_richardson@la.kirkland.com>\n\t\t cc: \n\t\t Subject: Gray Davis meeting\n\nWilliams, Reliant, Enron, Duke, AES, Dynegy, Mirant and Sempra have been\ninvited to a meeting with the Governor.  The press release provides: \"The\nagenda will include \"unpaid debts, credit and the supply of power.\"\nWilliams is concerned about attending such a meeting of competitors without\nthe presence of antitrust counsel even under the sponsorship of the Governor\n(who presumably acts as both the sovereign and on behalf of the buyer(s)).\nWe are looking into the Sovereign immunity and Noerr-Pennington issues to", "clipped": true, "phrase": "Williams, Reliant, Enron, Duke, AES, Dynegy, Mirant and Sempra have been", "path": "sanders-r/all_documents/1923."}, "s443": {"from": "steven.kean@enron.com", "to": "richard.sanders@enron.com", "subject": "Re: Gray Davis meeting", "text": "\"Stephen A. Herman\" <steve.herman@neg.pge.com>, \"Sydne Michel\" \n<sydne_michel@la.kirkland.com>, \"Tanya Murphy\" <tanya.murphy@neg.pge.com>, \n\"Tony Richardson\" <tony_richardson@la.kirkland.com>\n\t\t cc: \n\t\t Subject: Gray Davis meeting\n\nWilliams, Reliant, Enron, Duke, AES, Dynegy, Mirant and Sempra have been\ninvited to a meeting with the Governor.  The press release provides: \"The\nagenda will include \"unpaid debts, credit and the supply of power.\"\nWilliams is concerned about attending such a meeting of competitors without\nthe presence of antitrust counsel even under the sponsorship of the Governor\n(who presumably acts as both the sovereign and on behalf of the buyer(s)).\nWe are looking into the Sovereign immunity and Noerr-Pennington issues to", "clipped": true, "phrase": "Williams, Reliant, Enron, Duke, AES, Dynegy, Mirant and Sempra have been", "path": "kean-s/all_documents/5010."}, "s446": {"from": "lynn.a.lednicky@dynegy.com", "to": "skean@enron.com", "subject": "California", "text": "Steve,\n\nDynegy has not yet decided how it will proceed on the working group with\nGovernor Davis' office, but please us me as the Dynegy contact person.\n\nLynn Lednicky\n713 767 8637\n713 767 6677 (fax)\nLynn.A.Lednicky@Dynegy.com", "clipped": false, "phrase": "Dynegy has not yet decided how it will proceed on the working group with", "path": "kean-s/all_documents/4929."}, "s480": {"from": "ann.schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "ELCON represents large industrial electricity users. \n\"Looking at the seams issues and addressing the seams issues successfully \nwill address an awful lot of problems we see in terms of balkanized, \ndysfunctional markets,\" Hughes said. \nELCON was joined in the petition by Enron Power Marketing Inc. (ENE), Reliant \nEnergy Power Generation (REI) and Dynegy Inc. (DYN), and the Electric Power \nSupply Association. \nEPSA, which represents competitive power producers and marketers, is \n\"thrilled\" that FERC will address the issue, said spokesman Mark Stultz. \nAddressing the seams issue is \"critical with regard to allowing RTOs to \nfunction and to enhance the movement of electricity across the country,\" \nStultz said. \n\"If you're moving toward a national grid, as the administration has proposed", "clipped": true, "phrase": "ELCON was joined in the petition by Enron Power Marketing Inc. (ENE), Reliant \nEnergy Power Generation (REI) and Dynegy Inc. (DYN), and the Electric Power \nSupply Association.", "path": "kean-s/all_documents/4716."}, "s567": {"from": "richard.shapiro@enron.com", "to": "john.shelk@enron.com, j..kean@enron.com", "subject": "RE: Barton Talking Points", "text": "Looks good- have already gotten it out to Dynegy, Duke energy, and Shell-Coral....Duke and Shell will call..still need to talk to Peter Esposito(Dynegy). Thanks.\n -----Original Message-----\nFrom: \tShelk, John  \nSent:\tThursday, September 27, 2001 8:07 AM\nTo:\tKean, Steven J.; Shapiro, Richard\nCc:\tRobertson, Linda; Novosel, Sarah; Nersesian, Carin\nSubject:\tBarton Talking Points\n\nHere are Barton talking points per our conversation last night.  We will separately send a favorable Washington Post article on FERC's meeting yesterday as it relates to RTOs.\n\n << File: BartonRTOTP092701.doc >>", "clipped": false, "phrase": "have already gotten it out to Dynegy, Duke energy, and Shell-Coral....Duke and Shell will call..still need to talk to Peter Esposito(Dynegy).", "path": "kean-s/federal_legislation/314."}, "s568": {"from": "b..sanders@enron.com", "to": "lisa.mellencamp@enron.com", "subject": "RE: SCE", "text": "Sent:\tFriday, September 28, 2001 10:46 AM\nTo:\tSanders, Richard B.; Mellencamp, Lisa\nSubject:\tSCE\n\nRichard and Lisa-\nThe watered down letter to SCE is set out below.  Let me know if you have\nany comments and if Enron is willing to sign on to the letter.  We are\ntrying to get this out today.  Dynegy has watered this down somewhat, but I\nbelieve has signed off on it.  Mirant has also agreed.\n\nAlso, Gov Davis's proclamation on XXX Session is set out below.  October 9\nis the current date.\n\nhttp://www.governor.ca.gov/state/govsite/gov_htmldisplay.jsp?BV_SessionID\n=@@@@0632743771.1001687586@@@@&BV_EngineID=jadccdiihmjmbemgcfkmchcog.0&sCatTitle=Proclamation&sFilePath=/govsite/proclamation/20010927_proc_third_x_session.html&sTitle=Third+Extraordinary+Session+of+the+Legislature&iOID=24873", "clipped": true, "phrase": "Dynegy has watered this down somewhat, but I\nbelieve has signed off on it.  Mirant has also agreed.", "path": "sanders-r/sent_items/114."}, "s575": {"from": "j..kean@enron.com", "to": "richard.shapiro@enron.com", "subject": "FW: Summit", "text": "-----Original Message-----\nFrom: Peter.Esposito@dynegy.com [mailto:Peter.Esposito@dynegy.com]\nSent: Friday, October 05, 2001 3:07 PM\nTo: SKean@enron.com\nSubject: Summit\n\nSteve: It's ok if rick attends the DYN summit in Hou although I'll feel\nfree to harass him re Enron's hackberry filing.  Cheers, peter\n\n--------------------------\nPeter G. Esposito\nVP & Regulatory Counsel\nDynegy Inc.\n1181 Gothic Corridor\nP.O. Box 748\nCrested Butte, CO 81224\n\nDirect: 970-349-XXXX\nCell: 970-209-XXXX\nFax: 713-356-XXXX\nPager: 713-616-XXXX\n\nDC Office: 202-216-XXXX\nHouston Office: 713-507-XXXX", "clipped": false, "phrase": "It's ok if rick attends the DYN summit in Hou although I'll feel\nfree to harass him re Enron's hackberry filing.", "path": "kean-s/sent_items/96."}, "s596": {"from": "richard.shapiro@enron.com", "to": "j..kean@enron.com", "subject": "FW: Stakeholder Committee Notes", "text": "cc:\tJames D Steffes/ENRON@enronXgate, Richard Ingersoll/ENRON@enronXgate, Jose Bestard/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT \n\nSubject:\tStakeholder Committee Notes\n\nHere are some bullet points of what transpired at the NERC meeting in Vancouver this Monday.\n\nThe customers met for almost 2 hours before the start of the SHC meeting.  Reps from Enron, Mirant, Dynegy, DENA, APPA and ELCON were present.\n\nAll agreed that a unified voice is needed to show strong direction from the customer side.  This may mean putting aside some internal positions.  Customers need to show support of the Goulding Task Force recommendations which offers a package deal to move NERC forward as a single standards setting organization for both reliability and commercial issues. The Goulding Task Force recommendations do fall short of asking for NERC action.", "clipped": true, "phrase": "The customers met for almost 2 hours before the start of the SHC meeting.  Reps from Enron, Mirant, Dynegy, DENA, APPA and ELCON were present.", "path": "kean-s/deleted_items/135."}, "s599": {"from": "sarah.novosel@enron.com", "to": "sarah.novosel@enron.com, laurie.knight@enron.com,   \tdaniel.allegretti@enron.com, ray.alvarez@enron.com,   \troy.boston@enron.com, alan.comnes@enron.com, joe.connor@enron.com,   \taleck.dadson@enron.com, jeff.dasovich@enron.com,   \thoward.fro", "subject": "RTO Week Day 3 Summary -- Tariff Standardization", "text": "The panelists were:  Ricky Bittle, Arkansas Electric Coop; Jim Caldwell, American Wind; Peter Esposito, Dynegy; Rory McMinn, New Mexico PSC; Glenn Ross, Dominion Resources; Audrey Zibelman, XCEL Energy.\n\nGeneral Observations\n\nThis panel had a lot less agreement than the previous panels.  Dynegy opposes standardization of a transmission tariff and urges FERC to give strong guidance to stakeholders and then let the stakeholders work out the details of a new tariff.  Dominion advocates a more prescriptive approach by FERC, noting that stakeholders have been unable to reach agreement over the last five years.  EXCEL has it's own focus - they want to be an ITC and want to provide many of the RTO services without being an RTO.  The Wind group is mostly concerned about the ability to provide generation on an \"as available\" basis.   The commissioner from New Mexico does not want standardization, does not want FE", "clipped": true, "phrase": "Dynegy opposes standardization of a transmission tariff and urges FERC to give strong guidance to stakeholders and then let the stakeholders work out the details of a new tariff.", "path": "kean-s/rto/178."}, "s600": {"from": "sarah.novosel@enron.com", "to": "sarah.novosel@enron.com, laurie.knight@enron.com,   \tdaniel.allegretti@enron.com, ray.alvarez@enron.com,   \troy.boston@enron.com, alan.comnes@enron.com, joe.connor@enron.com,   \taleck.dadson@enron.com, jeff.dasovich@enron.com,   \thoward.fro", "subject": "RTO Week Day 3 Summary -- Tariff Standardization", "text": "What Services Should be Standardized?\n\nOverall, Dynegy opposes standardizing tariffs but believes certain aspects of reservations should be standardized -- timing, confirmation processing, maintenance issues, bus names, ramping protocols, assumptions for ATC calculations, posting times, bumping rules, and settlement time.  With regard to congestion management, it should not be standardized between RTOs.", "clipped": true, "phrase": "Overall, Dynegy opposes standardizing tariffs but believes certain aspects of reservations should be standardized -- timing, confirmation processing, maintenance issues, bus names, ramping protocols, assumptions for ATC calculations, posting times, bumping rules, and settlement time.", "path": "kean-s/rto/178."}, "s603": {"from": "sarah.novosel@enron.com", "to": "sarah.novosel@enron.com, l..nicolay@enron.com, john.lavorato@enron.com,   \tlouise.kitchen@enron.com, janet.dietrich@enron.com,   \tdavid.delainey@enron.com, douglas.smith@enron.com,   \tdon.black@enron.com, david.forster@enron.com, david.dura", "subject": "RE: RTO Week -- Summary of Day Two Morning Panel", "text": "XCEL does not support a standardized tariff but urges FERC to standardize some issues such as CBM calculations, reserve obligations and load balancing and penalties.  American Wind says FERC must focus on having liquid spot markets in RTOs and not worry about tariff standardization.  Dominion cautions FERC about Dynegy's proposal to let the industry work out the details.  He says this is what happened with Order No. 2000 and the industry was unable to work it out.  \n\nShould FERC Retain CBM?", "clipped": true, "phrase": "Dominion cautions FERC about Dynegy's proposal to let the industry work out the details.", "path": "kitchen-l/_americas/regulatory/13."}, "s605": {"from": "sarah.novosel@enron.com", "to": "sarah.novosel@enron.com, l..nicolay@enron.com, john.lavorato@enron.com,   \tlouise.kitchen@enron.com, janet.dietrich@enron.com,   \tdavid.delainey@enron.com, douglas.smith@enron.com,   \tdon.black@enron.com, david.forster@enron.com, david.dura", "subject": "RE: RTO Week -- Summary of Day Two Morning Panel", "text": "I am somewhat concerned that some of the Commissioners may believe that tariff standardization is not necessary.  While the Dynegy concept had merit at one time, it may be too late to rely on the stakeholder process to resolve issues, and it could take many months to go through the process, only to have FERC, in the end, decide the details anyway.  We may want to submit comments on this issue to FERC at the conclusion of RTO Week.\n\nWhat Services Should be Standardized?", "clipped": true, "phrase": "While the Dynegy concept had merit at one time, it may be too late to rely on the stakeholder process to resolve issues, and it could take many months to go through the process", "path": "kitchen-l/_americas/regulatory/13."}, "s598": {"from": "sarah.novosel@enron.com", "to": "sarah.novosel@enron.com, laurie.knight@enron.com,   \tdaniel.allegretti@enron.com, ray.alvarez@enron.com,   \troy.boston@enron.com, alan.comnes@enron.com, joe.connor@enron.com,   \taleck.dadson@enron.com, jeff.dasovich@enron.com,   \thoward.fro", "subject": "RTO Week Day 3 Summary -- Tariff Standardization", "text": "Standardizing RTO Tariffs\n\nThe morning panel focused on which transmission services should be standardized in RTO tariffs across an interconnection or the entire country.  There were many diverse views on the panel, and the Staff and commissioners were somewhat more engaged in this session.  \n\nThe panelists were:  Ricky Bittle, Arkansas Electric Coop; Jim Caldwell, American Wind; Peter Esposito, Dynegy; Rory McMinn, New Mexico PSC; Glenn Ross, Dominion Resources; Audrey Zibelman, XCEL Energy.\n\nGeneral Observations", "clipped": true, "phrase": "The panelists were:  Ricky Bittle, Arkansas Electric Coop; Jim Caldwell, American Wind; Peter Esposito, Dynegy; Rory McMinn, New Mexico PSC; Glenn Ross, Dominion Resources; Audrey Zibelman, XCEL Energy.", "path": "kean-s/rto/178."}, "s602": {"from": "sarah.novosel@enron.com", "to": "sarah.novosel@enron.com, laurie.knight@enron.com,   \tdaniel.allegretti@enron.com, ray.alvarez@enron.com,   \troy.boston@enron.com, alan.comnes@enron.com, joe.connor@enron.com,   \taleck.dadson@enron.com, jeff.dasovich@enron.com,   \thoward.fro", "subject": "RTO Week Day 3 Summary -- Tariff Standardization", "text": "Network Versus Point to Point Service\n\nPeter (Dynegy) discussed the need to develop a new type of transmission service that combines the best features from network and point to point, similar to transportation service offered in gas -- firm and interruptible.  Peter suggests starting with the CRT tariff proposed several years ago.  Glenn (Dominion) thinks the CRT is outdated and thinks we need a new type of service but agrees that it should combine the best elements of network and point to point.  \n\nShould all Transmission Service Be Under the RTO's Tariff?", "clipped": true, "phrase": "Peter (Dynegy) discussed the need to develop a new type of transmission service that combines the best features from network and point to point, similar to transportation service offered in gas -- firm and interruptible.", "path": "kean-s/rto/178."}, "s601": {"from": "sarah.novosel@enron.com", "to": "sarah.novosel@enron.com, laurie.knight@enron.com,   \tdaniel.allegretti@enron.com, ray.alvarez@enron.com,   \troy.boston@enron.com, alan.comnes@enron.com, joe.connor@enron.com,   \taleck.dadson@enron.com, jeff.dasovich@enron.com,   \thoward.fro", "subject": "RTO Week Day 3 Summary -- Tariff Standardization", "text": "Should FERC Retain CBM?\n\nRicky (Arkansas Coop) believes that the bigger the RTO, the less important CBM is because the RTO will have enough resources internally to effectuate reserve sharing.  Dynegy thinks CBM should be eliminated.  Dominion thinks CBM should be retained but the rules need to be changed.  CBM should not be set for a year - it changes on a daily basis and this should be reflected.  Nor should CBM be standardized because needs vary region to region.  However, because CBM is used for load, the cost of CBM should be allocated to load.  All panelists agreed with the concept that if CBM is retained, load should be required to purchase it as a service provided un", "clipped": true, "phrase": "Dynegy thinks CBM should be eliminated.", "path": "kean-s/rto/178."}, "s604": {"from": "sarah.novosel@enron.com", "to": "sarah.novosel@enron.com, l..nicolay@enron.com, john.lavorato@enron.com,   \tlouise.kitchen@enron.com, janet.dietrich@enron.com,   \tdavid.delainey@enron.com, douglas.smith@enron.com,   \tdon.black@enron.com, david.forster@enron.com, david.dura", "subject": "RE: RTO Week -- Summary of Day Two Morning Panel", "text": "Overall, Dynegy opposes standardizing tariffs but believes certain aspects of reservations should be standardized -- timing, confirmation processing, maintenance issues, bus names, ramping protocols, assumptions for ATC calculations, posting times, bumping rules, and settlement time.  With regard to congestion management, it should not be standardized between RTOs.", "clipped": true, "phrase": "With regard to congestion management, it should not be standardized between RTOs.", "path": "kitchen-l/_americas/regulatory/13."}, "s638": {"from": "l..nicolay@enron.com", "to": "john.lavorato@enron.com, louise.kitchen@enron.com, frank.vickers@enron.com,   \tlaura.luce@enron.com, barry.tycholiz@enron.com, scott.neal@enron.com,   \ts..shively@enron.com, mike.grigsby@enron.com, ed.mcmichael@enron.com,   \ta..martin@enron", "subject": "Enron plans to oppose Dynegy in FERC power issue", "text": "Subject:\tDynegy vs. ComEd (EL02-6) -- further info\n\nAs I mentioned in my previous e-mail, on October 17 Dynegy filed a complaint against ComEd.  This proceeding may be of particular interest to Enron given EES's plans to offer physical delivery in Illinois in early 2002.  I've outlined Dynegy's principal arguments below.  Dynegy requested fast-track processing, so any intervention and comments we file are due Friday, Oct. 26.  In order to file a timely intervention (and meaningful comments, if we decide to comment), I need to know your thoughts on this as soon as possible.  Elizabeth an", "clipped": true, "phrase": "on October 17 Dynegy filed a complaint against ComEd.", "path": "kitchen-l/_americas/regulatory/9."}, "s639": {"from": "l..nicolay@enron.com", "to": "john.lavorato@enron.com, louise.kitchen@enron.com, frank.vickers@enron.com,   \tlaura.luce@enron.com, barry.tycholiz@enron.com, scott.neal@enron.com,   \ts..shively@enron.com, mike.grigsby@enron.com, ed.mcmichael@enron.com,   \ta..martin@enron", "subject": "Enron plans to oppose Dynegy in FERC power issue", "text": "As I mentioned in my previous e-mail, on October 17 Dynegy filed a complaint against ComEd.  This proceeding may be of particular interest to Enron given EES's plans to offer physical delivery in Illinois in early 2002.  I've outlined Dynegy's principal arguments below.  Dynegy requested fast-track processing, so any intervention and comments we file are due Friday, Oct. 26.  In order to file a timely intervention (and meaningful comments, if we decide to comment), I need to know your thoughts on this as soon as possible.  Elizabeth and Harlan, I'm copying you because I would especially like to know what you think of Dynegy's characterization of the Firm LD product.\n\nMain argument:", "clipped": true, "phrase": "Dynegy requested fast-track processing, so any intervention and comments we file are due Friday, Oct. 26.", "path": "kitchen-l/_americas/regulatory/9."}, "s640": {"from": "l..nicolay@enron.com", "to": "john.lavorato@enron.com, louise.kitchen@enron.com, frank.vickers@enron.com,   \tlaura.luce@enron.com, barry.tycholiz@enron.com, scott.neal@enron.com,   \ts..shively@enron.com, mike.grigsby@enron.com, ed.mcmichael@enron.com,   \ta..martin@enron", "subject": "Enron plans to oppose Dynegy in FERC power issue", "text": "- since retail providers are allowed to rely on \"over-the-counter\" firm instead of securing long-term contracts, adequate reserves are not being carried to serve retail load\n\t\nDynegy claims that ComEd's practice has deprived DMG of payments for capacity and the ability to earn revenues for capacity properly designated as network resources.  It cites specific instances in which ComEd has accepted transmission reservation requests from New Energy and Cilco in which these parties designated Illinois Power as a network resource, when only a Firm LD contracts were in place with IP.\n\nSusan Lindberg\n713.853.XXXX", "clipped": true, "phrase": "Dynegy claims that ComEd's practice has deprived DMG of payments for capacity and the ability to earn revenues for capacity properly designated as network resources.", "path": "kitchen-l/_americas/regulatory/9."}, "s641": {"from": "l..nicolay@enron.com", "to": "john.lavorato@enron.com, louise.kitchen@enron.com, frank.vickers@enron.com,   \tlaura.luce@enron.com, barry.tycholiz@enron.com, scott.neal@enron.com,   \ts..shively@enron.com, mike.grigsby@enron.com, ed.mcmichael@enron.com,   \ta..martin@enron", "subject": "Enron plans to oppose Dynegy in FERC power issue", "text": "Enron will respond similarly and include an argument that Dynegy is actually trying to create an \"icap/capacity\" requirement where there is none (Dynegy's pleading states \"ComEd's failure to enforce the network designation provisions of its OATT also deprives Dynegy of capacity payments to which it is entitled.)  We will also include statements that the continuation of the network v. PTP transmission tariffs perpetuates these types of issues and the market/tariff design that we advocate should be approved to stop these problems.\n\n -----Original Message-----\nFrom: \tLindberg, Susan", "clipped": true, "phrase": "Enron will respond similarly and include an argument that Dynegy is actually trying to create an \"icap/capacity\" requirement where there is none", "path": "kitchen-l/_americas/regulatory/9."}, "s670": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "Washington, Oct. 29 (Bloomberg) -- Companies that sell power\nin the western U.S. said the region may face blackouts this winter\nunless federal regulators permit them to charge more for\nelectricity than current price limits allow.\n\n     Dynegy Inc., Enron Corp. and other power suppliers said they\nmay not have electricity to offer during regional shortages this\nwinter if the price caps that the Federal Energy Regulatory\nCommission set for California and 10 Western states in April and\nJune aren't eliminated or changed. They said the present limit may\nbe too low to encourage dam owners to generate electricity.\n\n     ``The price mitigation plan, the way it is now, will make it\ndifficult to induce supply,'' G. Alan Comnes, director of\ngovernment affairs for Enron Power Marketing, told the commission\nat a conference in Washington.", "clipped": true, "phrase": "Dynegy Inc., Enron Corp. and other power suppliers said they\nmay not have electricity to offer during regional shortages this\nwinter if the price caps", "path": "kitchen-l/_americas/sec_media/64."}, "s918": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions", "text": "Enron CEO May Get at Least $60.6 Million After Buyout (Update6)\nBloomberg, 11/13/01\n\nDynegy Saved Enron Merger With Last Minute Pact (Update1)\nBloomberg, 11/13/01\n\nEnron Corp. Raised to `Maintain Position' at Edward Jones\nBloomberg, 11/13/01\n\nLemon Laws Won't Save Dynegy\nRealMoney.com, 11/13/01\n\nDynegy asked FERC to revise regs \nCBSMarketWatch.com, 11/13/01\n\nCompaq, Continental Eliminate Jobs, Houston Feels the Pain\nBloomberg, 11/13/01\n\nEnronOnline Competitor Reports Record Trading Volumes\n\n11/13/2001\nDow Jones Energy Service\n(Copyright (c) 2001, Dow Jones & Company, Inc.)", "clipped": true, "phrase": "Dynegy asked FERC to revise regs", "path": "kitchen-l/_americas/sec_media/35."}, "s1087": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions- 11/20/01", "text": "Reuters English News Service, 11/20/01\n\nSTOCKWATCH Enron slides after warning on debt, cut in Q3 EPS\nAFX News, 11/20/01\n\nAndersen-Enron Audit Prompts Look at Peer Reviews (Update1)\nBloomberg, 11/20/01\n\nEnergy Cos Limit Business With Enron After 10Q -Traders\nDow Jones Energy Service, 11/20/01\n\nUS FERC Denies Regulatory Waiver For Dynegy LNG Terminal\nDow Jones Energy Service, 11/20/01\n\nUSA: UPDATE 2-Enron stock hits decade low after debt warning.\nReuters English News Service, 11/20/01\n\nUSA: Enron shares slide after debt warning.\nReuters English News Service, 11/20/01\n\nStock Market Analysis: Looking Out To Next Year\nCNNfn: Market Coverage - Morning, 11/20/01\n\nDeregulation Not Seen Leaderless After Enron's Collapse\nDow Jones Energy Service, 11/20/01", "clipped": true, "phrase": "US FERC Denies Regulatory Waiver For Dynegy LNG Terminal", "path": "kitchen-l/_americas/sec_media/24."}, "s1271": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "Financial Times, 11/27/01\nTHE AMERICAS - Bolivia urged to handle its new-found wealth with care.\nFinancial Times, 11/27/01\nUSA: UPDATE 1-Enron lawsuit seen as wake-up call for pensions.\nReuters English News Service, 11/26/01\nUSA: Calif. Attorney Gen'l to examine Dynegy-Enron deal.\nReuters English News Service, 11/26/01\nDynegy May Modify Enron Purchase Terms, People Say (Update2)\nBloomberg, 11/26/01\n\nEnron Faces New Employee Suit Alleging Securities Violations\nBloomberg, 11/26/01\n\nCalifornia Agency Must Generate Revenue, Analyst Says (Update3)\nBloomberg, 11/26/01\n\nEnron Plunges, but Dynegy Will Suffer, Too\nTheStreet.com, 11/26/01\n\nEnron and Dynegy Discuss Plan to Cut Price of Acquisition\nBy Rebecca Smith and Robin Sidel", "clipped": true, "phrase": "USA: Calif. Attorney Gen'l to examine Dynegy-Enron deal.", "path": "kitchen-l/_americas/sec_media/16."}, "s8": {"from": "tana.jones@enron.com", "to": "bob.bowen@enron.com, jefferson.sorenson@enron.com, laurel.adams@enron.com,   \tandrea.guillen@enron.com, willie.harrell@enron.com,   \tlarry.hunter@enron.com, melba.lozano@enron.com,   \tchris.walker@enron.com, david.dupre@enron.com,   \tpamela", "subject": "Dynegy Canada Inc.", "text": "way down to Houston until now.\n\nType of Contract: Master Agreement (ECT Canada Form)\n\nEffective Date:  06/16/95\n\nExecuted Date:  06/24/96\n\nEnron Entity:  Enron Capital and Trade Resources Canada Corp., now known as \nEnron Canada Corp.\n\nCounterparty:  Originally, NOVAGAS CLEARINGHOUSE LIMITED PARTNERSHIP, now \nthrough name changes and merger, DYNEGY CANADA INC.\n\nTransactions Covered: Energy price swaps or option transactions only (no pulp \n& paper, weather, interest rate & currency or FX)\n\nGLOBAL CONTRACTS:  We need to get this master inputted immediately into the \nEnronOnline System so all of the confirmations for ENA and ECC will \nimmediately roll up under this master.\n\nCONFIRM DESK:  Please immediately start rolling up all the ENA and ECC trades", "clipped": true, "phrase": "Counterparty:  Originally, NOVAGAS CLEARINGHOUSE LIMITED PARTNERSHIP, now \nthrough name changes and merger, DYNEGY CANADA INC.", "path": "jones-t/all_documents/1045."}, "s29": {"from": "karen.denne@enron.com", "to": "mark.palmer@enron.com, steven.kean@enron.com", "subject": "Progress Report", "text": "Mark/Steve -- Meredith has made great progress working w/ Kekst on updating \nEnron descriptions in all the key databases -- the project is nearly done!  kd\n---------------------- Forwarded by Karen Denne/Corp/Enron on 05/23/2000 \n01:13 PM ---------------------------\n\nmherley <michael-herley@KEKST.COM> on 05/22/2000 04:42:57 PM\nTo: \"'kdenne@enron.com'\" <kdenne@enron.com>, \"'Meredith@enron.com'\" \n<Meredith@enron.com>\ncc:  \n\nSubject: Progress Report\n\nAs tomorrow is my last day in the office before the \"Big Day\" I wanted to\nprovide both of you with an update as to where we stand on the Online\nDatabase Audit.\n\nTAB C (Baseline) -- Baseline has updated its Business Overview of Enron\nCorp. and the new version has been approved by Mark Palmer.\n\nTAB E (CorpTech/OneSource) -- The listing questionnaire was faxed to\nMeredith last week to be updated and faxed directly back to CorpTech.\n\nTAB F (DJ Inte", "clipped": true, "phrase": "Dynegy's\npeer group is Major Oil &amp; Gas Gathering &amp; Marketing Companies", "path": "kean-s/all_documents/605."}, "s91": {"from": "issuealert@scientech.com", "to": "", "subject": "Dynegy Launches B2B Portal and Trading Site", "text": "that is just now developing a trading portal. It appears that Dynegy plans\nto build Dynegydirect from the ground up, unlike its involvement in \nTradeSpark,\nwhich is already up and running. This could become a lengthy and costly\nendeavor.\n\nAs I finished writing this analysis, Dynegy reported third-quarter earnings\nof $.55 per share. In particular, Dynegy reported that recurring net income\nfrom Dynegy Marketing and Trading increased to $141.0 million, representing\n80 percent of Dynegy's consolidated net income (compared to $26.8 million\nin the third quarter of 1999). Obviously, Dynegy's commodities marketing\nand trading operation is on a very significant growth mode. The launch\nof Dynegydirect\u0001*along with ongoing participation in TradeSpark\u0001*is a key\nelement of this growth.\n===============================================================\nSCIENTECH can help you find the answers you need. From simple questions", "clipped": true, "phrase": "Dynegy reported third-quarter earnings\nof $.55 per share. In particular, Dynegy reported that recurring net income\nfrom Dynegy Marketing and Trading increased to $141.0 million, representing\n80 percent of Dynegy's consolidated net income", "path": "kean-s/all_documents/1627."}, "s104": {"from": "issuealert@scientech.com", "to": "", "subject": "Market Manipulation or Fair Earnings in California? Enron, Dynegy   Report Huge Profits", "text": "$404 million in 3Q compared to $172 million last year. CEO Kenneth Lay\nsays he is \"very optimistic about the continued strong growth\" of the company.\nOver at Dynegy, they are singing the same happy tune. Dynegy reported \nrecurring\nnet income of $176.5 million, or 55 cents a share, compared with Dynegy\n/ Illinova pro forma recurring net income of $96.5 million, or 32 cents\nper share, for the same period last year. Much of this growth is coming\nfrom Dynegy Marketing and Trade, whose reported net income increased to\n$141.9 million\u0001*80 percent of the company's consolidated net income.\n\nWhile neither Enron nor Dynegy has mentioned California in their explanations\nof the strong Q3 earnings, clearly the high prices in the state must have\nplayed a large role in the companies' profits. I think most everyone was", "clipped": true, "phrase": "net income of $176.5 million, or 55 cents a share, compared with Dynegy\n/ Illinova pro forma recurring net income of $96.5 million, or 32 cents\nper share, for the same period last year.", "path": "kean-s/all_documents/1653."}, "s105": {"from": "issuealert@scientech.com", "to": "", "subject": "Market Manipulation or Fair Earnings in California? Enron, Dynegy   Report Huge Profits", "text": "Over at Dynegy, they are singing the same happy tune. Dynegy reported \nrecurring\nnet income of $176.5 million, or 55 cents a share, compared with Dynegy\n/ Illinova pro forma recurring net income of $96.5 million, or 32 cents\nper share, for the same period last year. Much of this growth is coming\nfrom Dynegy Marketing and Trade, whose reported net income increased to\n$141.9 million\u0001*80 percent of the company's consolidated net income.\n\nWhile neither Enron nor Dynegy has mentioned California in their explanations\nof the strong Q3 earnings, clearly the high prices in the state must have\nplayed a large role in the companies' profits. I think most everyone was\nexpecting any company active in wholesale trading to show strong numbers\nin the third quarter, based on the high prices in California alone, but\nthe extent of the increase is really stunning.", "clipped": true, "phrase": "Much of this growth is coming\nfrom Dynegy Marketing and Trade, whose reported net income increased to\n$141.9 million\u0001*80 percent of the company's consolidated net income.", "path": "kean-s/all_documents/1653."}, "s92": {"from": "eric.thode@enron.com", "to": "richard.sanders@enron.com", "subject": "San Diego Union Tribune", "text": "soaring. But the Texas company did say that profits of its sales and services \nunit \u0001) which trades California electricity and o\nther commodities \u0001) increased 135 percent to $404 million. \n\nDynegy Inc., also based in Houston, reported that income from its marketing \nand trade unit soared more than 300 percent to $142 million.   Steve\nBergstrom, president of Dynegy, said California was perhaps only the \nthird-biggest contributor to that surge. But industry analysts said the \nearnings\n reports are the first indication of a pattern expected in coming weeks. \n\n\"California clearly drove the positive momentum at both of these companies,\" \nsaid Carol Coale, senior analyst of Prudential \nSecurities. \"And you probably just saw the beginning of a string of strong", "clipped": true, "phrase": "and trade unit soared more than 300 percent to $142 million.", "path": "sanders-r/all_documents/776."}, "s96": {"from": "richard.sanders@enron.com", "to": "mark.haedicke@enron.com", "subject": "San Diego Union Tribune", "text": "soaring. But the Texas company did say that profits of its sales and services \nunit \u0001) which trades California electricity and o\nther commodities \u0001) increased 135 percent to $404 million. \n\nDynegy Inc., also based in Houston, reported that income from its marketing \nand trade unit soared more than 300 percent to $142 million.   Steve\nBergstrom, president of Dynegy, said California was perhaps only the \nthird-biggest contributor to that surge. But industry analysts said the \nearnings\n reports are the first indication of a pattern expected in coming weeks. \n\n\"California clearly drove the positive momentum at both of these companies,\" \nsaid Carol Coale, senior analyst of Prudential \nSecurities. \"And you probably just saw the beginning of a string of strong", "clipped": true, "phrase": "and trade unit soared more than 300 percent to $142 million.", "path": "sanders-r/all_documents/777."}, "s99": {"from": "ann.schmidt@enron.com", "to": "mark.palmer@enron.com, karen.denne@enron.com, meredith.philipp@enron.com,   \tsteven.kean@enron.com, elizabeth.linnell@enron.com,   \tlaura.schwartz@enron.com, eric.thode@enron.com, mary.clark@enron.com", "subject": "Enron Mentions", "text": "soaring. But the Texas company did say that profits of its sales and services \nunit \u0001) which trades California electricity and other commodities \u0001) increased \n135 percent to $404 million. \nDynegy Inc., also based in Houston, reported that income from its marketing \nand trade unit soared more than 300 percent to $142 million. \nSteve Bergstrom, president of Dynegy, said California was perhaps only the \nthird-biggest contributor to that surge. But industry analysts said the \nearnings reports are the first indication of a pattern expected in coming \nweeks. \n\"California clearly drove the positive momentum at both of these companies,\" \nsaid Carol Coale, senior analyst of Prudential Securities. \"And you probably", "clipped": true, "phrase": "and trade unit soared more than 300 percent to $142 million.", "path": "kean-s/all_documents/1643."}, "s101": {"from": "ann.schmidt@enron.com", "to": "mark.palmer@enron.com, karen.denne@enron.com, meredith.philipp@enron.com,   \tsteven.kean@enron.com, elizabeth.linnell@enron.com,   \tlaura.schwartz@enron.com, eric.thode@enron.com, mary.clark@enron.com", "subject": "Enron Mentions", "text": "on the California market by Nov. 1. \nThe political fallout from the price increases, meanwhile, appears to weigh \nheavily on power companies, which are reluctant to tout successes in \nCalifornia for fear of being singled out for profiteering. \nAfter noting that Dynegy's recent acquisitions in Illinois contributed \nstrongly to the company's success last quarter, Bergstrom was reminded that \nhe had omitted mention of California. \n\"Illinois is not as politically volatile as California,\" Bergstrom said. \nHe acknowledged that Dynegy did \"pretty well\" in California because its power \nplants produced far more electricity this year than last. Bergstrom also \nsought to correct an earlier report that Dynegy had quickly recouped the cost \nof power plants it recently acquired in the state.", "clipped": true, "phrase": "After noting that Dynegy's recent acquisitions in Illinois contributed \nstrongly to the company's success last quarter", "path": "kean-s/all_documents/1643."}, "s93": {"from": "eric.thode@enron.com", "to": "richard.sanders@enron.com", "subject": "San Diego Union Tribune", "text": "ther commodities \u0001) increased 135 percent to $404 million. \n\nDynegy Inc., also based in Houston, reported that income from its marketing \nand trade unit soared more than 300 percent to $142 million.   Steve\nBergstrom, president of Dynegy, said California was perhaps only the \nthird-biggest contributor to that surge. But industry analysts said the \nearnings\n reports are the first indication of a pattern expected in coming weeks. \n\n\"California clearly drove the positive momentum at both of these companies,\" \nsaid Carol Coale, senior analyst of Prudential \nSecurities. \"And you probably just saw the beginning of a string of strong \nreports (from the power industry).\"  She and others \nsay they suspect that power companies derived billions in profits from the", "clipped": true, "phrase": "third-biggest contributor to that surge.", "path": "sanders-r/all_documents/776."}, "s94": {"from": "eric.thode@enron.com", "to": "richard.sanders@enron.com", "subject": "San Diego Union Tribune", "text": "California for fear of being singled out for profiteering. \n\nAfter noting that Dynegy's recent acquisitions in Illinois contributed \nstrongly to the company's success last quarter, Bergstrom was reminded that \nhe \nhad omitted mention of California. \n\n\"Illinois is not as politically volatile as California,\" Bergstrom said. \n\nHe acknowledged that Dynegy did \"pretty well\" in California because its power \nplants produced far more electricity this year than last. Bergstrom \nalso sought to correct an earlier report that Dynegy had quickly recouped the \ncost of power plants it recently acquired in the state. \n\nHe said that was true only of the plants it owns in Long Beach and El \nSegundo, which it bought in 1998. Bergstrom said the cost of Dynegy's half \ninterest", "clipped": true, "phrase": "\"Illinois is not as politically volatile as California,\" Bergstrom said.", "path": "sanders-r/all_documents/776."}, "s97": {"from": "richard.sanders@enron.com", "to": "mark.haedicke@enron.com", "subject": "San Diego Union Tribune", "text": "strongly to the company's success last quarter, Bergstrom was reminded that \nhe \nhad omitted mention of California. \n\n\"Illinois is not as politically volatile as California,\" Bergstrom said. \n\nHe acknowledged that Dynegy did \"pretty well\" in California because its power \nplants produced far more electricity this year than last. Bergstrom \nalso sought to correct an earlier report that Dynegy had quickly recouped the \ncost of power plants it recently acquired in the state. \n\nHe said that was true only of the plants it owns in Long Beach and El \nSegundo, which it bought in 1998. Bergstrom said the cost of Dynegy's half \ninterest \nin the former San Diego Gas & Electric Encina power plant in Carlsbad \u0001) \nacquired at the end of 1998 \u0001) had not been recovered.", "clipped": true, "phrase": "plants produced far more electricity this year than last.", "path": "sanders-r/all_documents/777."}, "s100": {"from": "ann.schmidt@enron.com", "to": "mark.palmer@enron.com, karen.denne@enron.com, meredith.philipp@enron.com,   \tsteven.kean@enron.com, elizabeth.linnell@enron.com,   \tlaura.schwartz@enron.com, eric.thode@enron.com, mary.clark@enron.com", "subject": "Enron Mentions", "text": "and trade unit soared more than 300 percent to $142 million. \nSteve Bergstrom, president of Dynegy, said California was perhaps only the \nthird-biggest contributor to that surge. But industry analysts said the \nearnings reports are the first indication of a pattern expected in coming \nweeks. \n\"California clearly drove the positive momentum at both of these companies,\" \nsaid Carol Coale, senior analyst of Prudential Securities. \"And you probably \njust saw the beginning of a string of strong reports (from the power \nindustry).\" \nShe and others say they suspect that power companies derived billions in \nprofits from the state, where tight supplies set the stage for huge price \nincreases. \nCompanies did not necessarily have to own generating plants to profit from \nthe deregulated market. Enron produces no electricity in California but is", "clipped": true, "phrase": "\"California clearly drove the positive momentum at both of these companies,\" \nsaid Carol Coale, senior analyst of Prudential Securities.", "path": "kean-s/all_documents/1643."}, "s106": {"from": "issuealert@scientech.com", "to": "", "subject": "Market Manipulation or Fair Earnings in California? Enron, Dynegy   Report Huge Profits", "text": "/ Illinova pro forma recurring net income of $96.5 million, or 32 cents\nper share, for the same period last year. Much of this growth is coming\nfrom Dynegy Marketing and Trade, whose reported net income increased to\n$141.9 million\u0001*80 percent of the company's consolidated net income.\n\nWhile neither Enron nor Dynegy has mentioned California in their explanations\nof the strong Q3 earnings, clearly the high prices in the state must have\nplayed a large role in the companies' profits. I think most everyone was\nexpecting any company active in wholesale trading to show strong numbers\nin the third quarter, based on the high prices in California alone, but\nthe extent of the increase is really stunning.\n\nThe short answer for the price spikes has been that demand in the state", "clipped": true, "phrase": "While neither Enron nor Dynegy has mentioned California in their explanations\nof the strong Q3 earnings", "path": "kean-s/all_documents/1653."}, "s115": {"from": "peter.styles@enron.com", "to": "mark.schroeder@enron.com", "subject": "EU plans for single power market - cross border transmission   tariffs", "text": "lecture, so I am only now forwarding it to you.  Joe tells me that Investor \nRelations has received some inquiries about \"what is going on in Europe\" \nyesterday, due to the bad headline Reuters chose below (aided by a \nself-serving European Commission official), and Dynegy's Q3 earnings showing \nred ink for Europe.  Ignoring the headline, and the quote from the European \nCommission civil servant (which I will elaborate upon below), this is a BIG \nWIN. It is progress for liberalisation, and I intend to tell The Economist \njust that when I do an interview with a reporter later today.  This story is \nabout the DEMISE of the ill-conceived 2Euros/MWh export charge.  It stands \ntruth and logic on its head to say, as the unnamed European official does,", "clipped": true, "phrase": "and Dynegy's Q3 earnings showing \nred ink for Europe.", "path": "kean-s/all_documents/1707."}, "s114": {"from": "peter.styles@enron.com", "to": "mark.schroeder@enron.com", "subject": "Re: EU plans for single power market suffer setback.- Enron   Mention- Reuters", "text": "lecture, so I am only now forwarding it to you.  Joe tells me that Investor \nRelations has received some inquiries about \"what is going on in Europe\" \nyesterday, due to the bad headline Reuters chose below (aided by a \nself-serving European Commission official), and Dynegy's Q3 earnings showing \nred ink for Europe.  Ignoring the headline, and the quote from the European \nCommission civil servant (which I will elaborate upon below), this is a BIG \nWIN. It is progress for liberalisation, and I intend to tell The Economist \njust that when I do an interview with a reporter later today.  This story is \nabout the DEMISE of the ill-conceived 2Euros/MWh export charge.  It stands \ntruth and logic on its head to say, as the unnamed European official does,", "clipped": true, "phrase": "Dynegy's Q3 earnings showing \nred ink for Europe.", "path": "kean-s/all_documents/1706."}, "s156": {"from": "richard.sanders@enron.com", "to": "mark.haedicke@enron.com", "subject": "RE: FW: ANNOUNCEMENT: Notice of Press Conference today", "text": "electricity which is ultimately sold to California consumers, including\nplaintiff and the class, and is a WSCC member.  Southern Energy operates six\nelectricity generating plants in California which supply wholesale\nelectricity to the California Power Exchange.\n10. Defendant Dynegy, Inc. (hereinafter \"Dynegy\") is a Houston, Texas\nbased public corporation doing business in the state of California as Dynegy\nMarketing and Trade. It is a generator and trader of wholesale electricity\nwhich is ultimately sold to California consumers, including plaintiff and\nthe class, and is a WSCC member.  Dynegy operates two electricity generating\npower plants in California which supply wholesale electricity to the\nCalifornia Power Exchange.\n 11.  Defendant NRG Energy, Inc. (hereinafter \"NRG\") is a Minneapolis,\nMinnesota based public corporation doing business in the state of California", "clipped": true, "phrase": "Defendant Dynegy, Inc. (hereinafter \"Dynegy\") is a Houston, Texas\nbased public corporation doing business in the state of California as Dynegy\nMarketing and Trade.", "path": "sanders-r/all_documents/1042."}, "s157": {"from": "richard.sanders@enron.com", "to": "mark.haedicke@enron.com", "subject": "RE: FW: ANNOUNCEMENT: Notice of Press Conference today", "text": "based public corporation doing business in the state of California as Dynegy\nMarketing and Trade. It is a generator and trader of wholesale electricity\nwhich is ultimately sold to California consumers, including plaintiff and\nthe class, and is a WSCC member.  Dynegy operates two electricity generating\npower plants in California which supply wholesale electricity to the\nCalifornia Power Exchange.\n 11.  Defendant NRG Energy, Inc. (hereinafter \"NRG\") is a Minneapolis,\nMinnesota based public corporation doing business in the state of California\nas NRG, a generator and trader of wholesale electricity which is ultimately\nsold to California consumers, including plaintiff and the class.  In\npartnership with defendant Dynegy, NRG operates eight electricity generating\nplants in California which supply wholesale electricity to the California", "clipped": true, "phrase": "Dynegy operates two electricity generating\npower plants in California which supply wholesale electricity to the\nCalifornia Power Exchange.", "path": "sanders-r/all_documents/1042."}, "s158": {"from": "richard.sanders@enron.com", "to": "mark.haedicke@enron.com", "subject": "RE: FW: ANNOUNCEMENT: Notice of Press Conference today", "text": "11.  Defendant NRG Energy, Inc. (hereinafter \"NRG\") is a Minneapolis,\nMinnesota based public corporation doing business in the state of California\nas NRG, a generator and trader of wholesale electricity which is ultimately\nsold to California consumers, including plaintiff and the class.  In\npartnership with defendant Dynegy, NRG operates eight electricity generating\nplants in California which supply wholesale electricity to the California\nPower Exchange.\n12. Defendant AES Corporation (hereinafter \"AES\") is an Arlington,\nVirginia based public corporation doing business in the state of California\nas AES Pacific Group, a generator and trader of wholesale electricity which\nis ultimately sold to California consumers, including plaintiffs and the\nclass, and a WSCC member.  AES Pacific Group operates four electricity\ngenerating plants in southern California which supply wholesale electricity", "clipped": true, "phrase": "In\npartnership with defendant Dynegy, NRG operates eight electricity generating\nplants in California which supply wholesale electricity to the California\nPower Exchange.", "path": "sanders-r/all_documents/1042."}, "s147": {"from": "mark.palmer@enron.com", "to": "richard.shapiro@enron.com, steven.kean@enron.com, jeff.dasovich@enron.com,   \trichard.sanders@enron.com, paul.kaufman@enron.com", "subject": "RE: FW: ANNOUNCEMENT: Notice of Press Conference today", "text": "Feygin stated, \"'The industry was literally at eight times the profitability\nof last year . . .. that is a fortune.'\"\n48. Defendant Reliant has reported that its third quarter earnings will\ntop last year's figure by about $110 million.  Similarly, defendant Dynegy\nreported an 83 percent increase in its third quarter 2000 income, as\ncompared to its third quarter 1999 figures.   Profits from Defendant\nDynegy's wholesale energy generating and trading division quadrupled to\n$141.9 million, which represented 80 percent of Dynegy's overall profits.\n\"This is the most successful quarter in Dynegy's history\", reported chairman\nand chief executive officer, Charles 'Chuck' Watson.  Other defendants also\nobtained large windfall profits during this period.\n49. Prior to deregulation, the historical cost to produce a megawatt", "clipped": true, "phrase": "reported an 83 percent increase in its third quarter 2000 income, as\ncompared to its third quarter 1999 figures.", "path": "kean-s/all_documents/2072."}, "s162": {"from": "richard.sanders@enron.com", "to": "mark.haedicke@enron.com", "subject": "RE: FW: ANNOUNCEMENT: Notice of Press Conference today", "text": "Feygin stated, \"'The industry was literally at eight times the profitability\nof last year . . .. that is a fortune.'\"\n48. Defendant Reliant has reported that its third quarter earnings will\ntop last year's figure by about $110 million.  Similarly, defendant Dynegy\nreported an 83 percent increase in its third quarter 2000 income, as\ncompared to its third quarter 1999 figures.   Profits from Defendant\nDynegy's wholesale energy generating and trading division quadrupled to\n$141.9 million, which represented 80 percent of Dynegy's overall profits.\n\"This is the most successful quarter in Dynegy's history\", reported chairman\nand chief executive officer, Charles 'Chuck' Watson.  Other defendants also\nobtained large windfall profits during this period.\n49. Prior to deregulation, the historical cost to produce a megawatt", "clipped": true, "phrase": "defendant Dynegy\nreported an 83 percent increase in its third quarter 2000 income, as\ncompared to its third quarter 1999 figures.", "path": "sanders-r/all_documents/1045."}, "s148": {"from": "mark.palmer@enron.com", "to": "richard.shapiro@enron.com, steven.kean@enron.com, jeff.dasovich@enron.com,   \trichard.sanders@enron.com, paul.kaufman@enron.com", "subject": "RE: FW: ANNOUNCEMENT: Notice of Press Conference today", "text": "top last year's figure by about $110 million.  Similarly, defendant Dynegy\nreported an 83 percent increase in its third quarter 2000 income, as\ncompared to its third quarter 1999 figures.   Profits from Defendant\nDynegy's wholesale energy generating and trading division quadrupled to\n$141.9 million, which represented 80 percent of Dynegy's overall profits.\n\"This is the most successful quarter in Dynegy's history\", reported chairman\nand chief executive officer, Charles 'Chuck' Watson.  Other defendants also\nobtained large windfall profits during this period.\n49. Prior to deregulation, the historical cost to produce a megawatt\nhour of electricity in San Diego County was approximately $23-45 per MWh.\nDuring the Summer of 2000, defendants' conduct caused the Real Time Market", "clipped": true, "phrase": "$141.9 million, which represented 80 percent of Dynegy's overall profits.", "path": "kean-s/all_documents/2072."}, "s153": {"from": "richard.sanders@enron.com", "to": "gfergus@brobeck.com", "subject": "RE: FW: ANNOUNCEMENT: Notice of Press Conference today", "text": "top last year's figure by about $110 million.  Similarly, defendant Dynegy\nreported an 83 percent increase in its third quarter 2000 income, as\ncompared to its third quarter 1999 figures.   Profits from Defendant\nDynegy's wholesale energy generating and trading division quadrupled to\n$141.9 million, which represented 80 percent of Dynegy's overall profits.\n\"This is the most successful quarter in Dynegy's history\", reported chairman\nand chief executive officer, Charles 'Chuck' Watson.  Other defendants also\nobtained large windfall profits during this period.\n49. Prior to deregulation, the historical cost to produce a megawatt\nhour of electricity in San Diego County was approximately $23-45 per MWh.\nDuring the Summer of 2000, defendants' conduct caused the Real Time Market", "clipped": true, "phrase": "$141.9 million, which represented 80 percent of Dynegy's overall profits.", "path": "sanders-r/all_documents/1041."}, "s163": {"from": "richard.sanders@enron.com", "to": "mark.haedicke@enron.com", "subject": "RE: FW: ANNOUNCEMENT: Notice of Press Conference today", "text": "48. Defendant Reliant has reported that its third quarter earnings will\ntop last year's figure by about $110 million.  Similarly, defendant Dynegy\nreported an 83 percent increase in its third quarter 2000 income, as\ncompared to its third quarter 1999 figures.   Profits from Defendant\nDynegy's wholesale energy generating and trading division quadrupled to\n$141.9 million, which represented 80 percent of Dynegy's overall profits.\n\"This is the most successful quarter in Dynegy's history\", reported chairman\nand chief executive officer, Charles 'Chuck' Watson.  Other defendants also\nobtained large windfall profits during this period.\n49. Prior to deregulation, the historical cost to produce a megawatt\nhour of electricity in San Diego County was approximately $23-45 per MWh.\nDuring the Summer of 2000, defendants' conduct caused the Real Time Market", "clipped": true, "phrase": "Profits from Defendant\nDynegy's wholesale energy generating and trading division quadrupled to\n$141.9 million, which represented 80 percent of Dynegy's overall profits.", "path": "sanders-r/all_documents/1045."}, "s164": {"from": "richard.sanders@enron.com", "to": "cedric.burgher@enron.com", "subject": "RE: FW: ANNOUNCEMENT: Notice of Press Conference today", "text": "reported an 83 percent increase in its third quarter 2000 income, as\ncompared to its third quarter 1999 figures.   Profits from Defendant\nDynegy's wholesale energy generating and trading division quadrupled to\n$141.9 million, which represented 80 percent of Dynegy's overall profits.\n\"This is the most successful quarter in Dynegy's history\", reported chairman\nand chief executive officer, Charles 'Chuck' Watson.  Other defendants also\nobtained large windfall profits during this period.\n49. Prior to deregulation, the historical cost to produce a megawatt\nhour of electricity in San Diego County was approximately $23-45 per MWh.\nDuring the Summer of 2000, defendants' conduct caused the Real Time Market\nprice of wholesale electricity to frequently reach $750 per MWh, resulting\nin an approximate tripling of SDG&E customers' bills.", "clipped": true, "phrase": "\"This is the most successful quarter in Dynegy's history\", reported chairman\nand chief executive officer, Charles 'Chuck' Watson.", "path": "sanders-r/all_documents/1046."}, "s181": {"from": "alan.comnes@enron.com", "to": "diane.vickers@enron.com, robert.badeer@enron.com, tracy.ngo@enron.com,   \tsusan.mara@enron.com, jeff.dasovich@enron.com,   \tpaul.kaufman@enron.com, steven.kean@enron.com", "subject": "Reactions to Yesterday's CPUC Decision", "text": "unsecured debt ratings for one of those generators, Calpine Corp. (CPN), and \nindicated that the positions of a number of other generators were similarly \nstable. \n\nStandard & Poor's, without commenting on ratings, said those generators \ninclude Dynegy Inc. (DYN), The Williams Cos. (WMB), Reliant Energy Inc. \n(REI), Southern Energy Inc. (SOE) and NRG Energy Inc. (NRG). \n\n\"Each company has a diverse asset portfolio that mitigates exposure to any \nsingle market, such as California,\" S&P said. \"Standard & Poor's has \nconcluded that the developers with merchant exposure to the California market \nhave sufficient financial liquidity to sustain long-term disruptions to their \nmarkets.\"", "clipped": true, "phrase": "include Dynegy Inc. (DYN), The Williams Cos. (WMB), Reliant Energy Inc.", "path": "kean-s/all_documents/6482."}, "s198": {"from": "leslie.hansen@enron.com", "to": "tana.jones@enron.com", "subject": "Re: EOL approvals, 1/12/01", "text": "Tana:\n\nThe following CPs are not approved to trade US power -- restricted by credit:\n\nCalpine Energy Services, L.P.\nDuke Energy Marketing Limited Partnership\nDynegy Canada Inc.\nLouis Dreyfus Plastic Corp\nNoble Americas Corp.\nBlack Stone Minerals Company, L.P.\nHercules Transport, Inc.\nLevel Propane Gases, Inc.\n\n**************** \nFirstEnergy Services Corp. is the successor by merger to FirstEnergy Trading \nServices Inc. and is authorized to trade US power pursuant to the existing \nFirstEnergy Trading Services Inc. agreement.\n\nTennessee Valley Authority is authorized to trade US power pursuant to the \non-line GTCs -- I have already sent an override letter to Lisa Lees group.\n\nLeslie", "clipped": false, "phrase": "Duke Energy Marketing Limited Partnership\nDynegy Canada Inc.", "path": "jones-t/all_documents/9089."}, "s251": {"from": "karen.denne@enron.com", "to": "jeff.dasovich@enron.com, richard.shapiro@enron.com, james.steffes@enron.com,   \tsteven.kean@enron.com, mark.palmer@enron.com", "subject": "Merrill Lynch Report: Governor Davis Comes to Wall Street", "text": "The Governor indicated that a couple of unnamed generators have voluntarily\nagreed to accept less than 100 cents on the dollar for their past due\nreceivables. When pressed about which parties they've had constructive\ndiscussions with, he identified Williams (WMB: Baa2/BBB-), Enron (ENE:\nBaa1/BBB+) and Dynegy (DYN: Baa2/BBB+).  We note that most of the generators\nand marketers with exposure to California have established reserves against\npossible losses.  Importantly, the Governor said that he hoped that the banks\nand bondholders would not be asked to take a haircut.\n\nProspects for Legislation and Possibility of Ballot Initiative\n\nThe Governor said he is quite confident that he can reach an agreement with \nthe\nutilities that the legislature can support.  Although he admitted that he\ncouldn't prevent someone from proposing a ballot initiative, the governor said", "clipped": true, "phrase": "and Dynegy (DYN: Baa2/BBB+).  We note that most of the generators\nand marketers with exposure to California have established reserves against\npossible losses.", "path": "kean-s/all_documents/5704."}, "s253": {"from": "miyung.buster@enron.com", "to": "ann.schmidt@enron.com, bryan.seyfried@enron.com, dcasse@whwg.com,   \tdg27@pacbell.net, elizabeth.linnell@enron.com, filuntz@aol.com,   \tjames.steffes@enron.com, janet.butler@enron.com,   \tjeannie.mandelker@enron.com, jeff.dasovich@enron.com", "subject": "Energy Issues", "text": "The Governor indicated that a couple of unnamed generators have voluntarily\nagreed to accept less than 100 cents on the dollar for their past due\nreceivables. When pressed about which parties they've had constructive\ndiscussions with, he identified Williams (WMB: Baa2/BBB-), Enron (ENE:\nBaa1/BBB+) and Dynegy (DYN: Baa2/BBB+).  We note that most of the generators\nand marketers with exposure to California have established reserves against\npossible losses.  Importantly, the Governor said that he hoped that the banks\nand bondholders would not be asked to take a haircut.\n\nProspects for Legislation and Possibility of Ballot Initiative\n\nThe Governor said he is quite confident that he can reach an agreement with \nthe\nutilities that the legislature can support.  Although he admitted that he", "clipped": true, "phrase": "Baa1/BBB+) and Dynegy (DYN: Baa2/BBB+).  We note that most of the generators", "path": "kean-s/all_documents/5703."}, "s272": {"from": "jeff.dasovich@enron.com", "to": "alan.comnes@enron.com, angela.schwarz@enron.com, beverly.aden@enron.com,   \tbill.votaw@enron.com, brenda.barreda@enron.com,   \tcarol.moffett@enron.com, cathy.corbin@enron.com,   \tchris.foster@enron.com, christina.liscano@enron.com,   \tcraig", "subject": "Dynegy and NRG Energy Announce Long-term Agreement With California", "text": "Craig A. Mataczynski, president and chief executive officer of NRG North\n America, said, \"Today's announcement solidifies our commitment to\neliminating uncertainty for our respective shareholders and restoring price\nstability and future reliability to the California electricity market.\"\n \n   Dynegy Inc. is a leading provider of energy and communications solutions\nto customers in North America, the United Kingdom and Continental Europe.\nThe company's leadership position extends across the entire convergence\nvalue chain, from power generation and wholesale and direct commercial and\nindustrial marketing and trading of power, natural gas, coal emission\nallowances, weather\n derivatives, and broadband to transportation, gathering and processing of\n natural gas liquids. For more information on Dynegy visit our web site at\n www.dynegy.com.", "clipped": true, "phrase": "Dynegy Inc. is a leading provider of energy and communications solutions\nto customers in North America, the United Kingdom and Continental Europe.", "path": "kean-s/all_documents/5639."}, "s273": {"from": "jeff.dasovich@enron.com", "to": "alan.comnes@enron.com, angela.schwarz@enron.com, beverly.aden@enron.com,   \tbill.votaw@enron.com, brenda.barreda@enron.com,   \tcarol.moffett@enron.com, cathy.corbin@enron.com,   \tchris.foster@enron.com, christina.liscano@enron.com,   \tcraig", "subject": "Dynegy and NRG Energy Announce Long-term Agreement With California", "text": "Dynegy Inc. is a leading provider of energy and communications solutions\nto customers in North America, the United Kingdom and Continental Europe.\nThe company's leadership position extends across the entire convergence\nvalue chain, from power generation and wholesale and direct commercial and\nindustrial marketing and trading of power, natural gas, coal emission\nallowances, weather\n derivatives, and broadband to transportation, gathering and processing of\n natural gas liquids. For more information on Dynegy visit our web site at\n www.dynegy.com.\n \n   NRG Energy is a leading global energy company primarily engaged in the\n acquisition, development, construction, ownership and operation of power\n generation facilities. NRG owns all or a portion of 66 power generation\nprojects\n and its net ownership interest in these projects is 16,704 MW. The\ncompany's", "clipped": true, "phrase": "from power generation and wholesale and direct commercial and\nindustrial marketing and trading of power, natural gas, coal emission\nallowances, weather\n derivatives, and broadband to transportation, gathering and processing of\n natural gas liquids.", "path": "kean-s/all_documents/5639."}, "s349": {"from": "tim.belden@enron.com", "to": "greg.wolfe@enron.com, bill.iii@enron.com", "subject": "FYI: Dynegydirect introduces Hourly power", "text": "Dynegy Inc. is a leading provider of energy and communications solutions to customers in North America, the United Kingdom and Continental Europe. The company's leadership position extends across the entire convergence value chain, from power generation, wholesale commercial and industrial marketing to trading of power, natural gas, coal, emission allowances, weather derivatives, broadband and the transportation, gathering and processing of natural gas liquids.", "clipped": true, "phrase": "Dynegy Inc. is a leading provider of energy and communications solutions to customers in North America, the United Kingdom and Continental Europe.", "path": "williams-w3/timbelden/7."}, "s820": {"from": "hemery@firstunion1.com", "to": "undisclosed-recipients@enron.com", "subject": "Dynegy/Enron-CS First Boston Research", "text": "2000A        0.26     0.29    0.55      0.32\nROGIC(12/00A %)               16.1%\nNet debt(12/00A $m)           3264\nNet debt/Total cap.(12/00A %) 45.4%\nBook value/share(12/00A)     11.60\nNumber of Shares(m)         339.23\n\n1On 11/09/01 the S&P 500 index closed at 1120.31.\n2Economic profit trend.\n\nDynegy is a wholesale and retail energy provider with operations in natural gas,\nnatural gas liquids, coal, and electricity throughout the U.S. and Europe.\n\nViewpoint Continued\n\nWe maintain our Strong Buy rating for DYN with a target price of $54. We\nanticipate growth rate and valuation benefits for DYN that will result in\nincreasing our estimates and target price as the deal moves closer to closing.\n\nDYN will hold a conference call on Monday, November 12 at 9am EST. The call in\nnumber is 888-603-XXXX.\n\nN.B.: CREDIT SUISSE FIRST BOSTON CORPORATION may have, within the last three", "clipped": true, "phrase": "Dynegy is a wholesale and retail energy provider with operations in natural gas,\nnatural gas liquids, coal, and electricity throughout the U.S. and Europe.", "path": "kean-s/dynegy_transaction/3."}, "s1132": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions- 11/21/01", "text": "Dynegy Inc. is one of the world's top energy merchants. Through its global energy delivery network and marketing, trading and risk management capabilities, Dynegy provides innovative solutions to customers in North America, the United Kingdom and Continental Europe.", "clipped": true, "phrase": "Dynegy provides innovative solutions to customers in North America, the United Kingdom and Continental Europe.", "path": "kean-s/deleted_items/447."}, "s384": {"from": "john.llodra@enron.com", "to": "louise.kitchen@enron.com", "subject": "Re: Dave Samuels", "text": "Louise\n\nThanks for the note about Dave.  I do not know Dave but will probably pay him a visit in Boston to see what we might do with them.   Acitivity out of their northeast office has primarily been on the nat gas side, but with their recent acquistion of Central Hudson's generation assets in NY they have been getting more active in power.  \n\nI have been meaning to swing by and introduce myself on one of my trips to Houston, and will be sure to do so on the next trip.\n\nRegards\nJohn\n\nLouise Kitchen@ECT\n04/27/2001 08:33 AM\nTo:\tJohn Llodra/Corp/Enron@ENRON\ncc:\t \n\nSubject:\tDave Samuels", "clipped": true, "phrase": "Acitivity out of their northeast office has primarily been on the nat gas side, but with their recent acquistion of Central Hudson's generation assets in NY they have been getting more active in power.", "path": "kitchen-l/_americas/east_power/197."}, "s410": {"from": "henry.means@enron.com", "to": "", "subject": "Enron Mentions - 05/03/01", "text": "megawatts of output. \"They've streamlined power generation and traded around \nthe assets while keeping the distribution business in a sweet spot,\" said \nJohn Olson, an analyst at Sanders Morris Harris in Houston. \nIllinova, meanwhile, solved a big investor-related problem for Dynegy. Before \nthe merger, only 10% of Dynegy's shares were available to the public. As part \nof the deal, Watson convinced two of Dynegy's strategic partners, British Gas \nplc and Nova Chemicals, to sell their combined 50% stake for approximately \n$542 million in cash and 3,348,888 shares of a new convertible preferred \nstock. It also issued 3.3 million shares after the deal closed. \nThose moves increased Dynegy's float to more than 60% of the shares \noutstanding, which led money managers to flood in. The company's market", "clipped": true, "phrase": "the merger, only 10% of Dynegy's shares were available to the public. As part", "path": "kean-s/all_documents/5039."}, "s413": {"from": "henry.means@enron.com", "to": "", "subject": "Enron Mentions - 05/03/01", "text": "of the deal, Watson convinced two of Dynegy's strategic partners, British Gas \nplc and Nova Chemicals, to sell their combined 50% stake for approximately \n$542 million in cash and 3,348,888 shares of a new convertible preferred \nstock. It also issued 3.3 million shares after the deal closed. \nThose moves increased Dynegy's float to more than 60% of the shares \noutstanding, which led money managers to flood in. The company's market \ncapitalization has since tripled to $18.3 billion. \nOperationally, in its effort to focus on power generation, trading and \nmarketing, Dynegy has been dumping some of its mid-stream assets, such as \nprocessing plants and pipelines, particularly in the mid-Continent region. \nThe idea now is to increase Dynegy's so-called merchant power capacity -- or", "clipped": true, "phrase": "Those moves increased Dynegy's float to more than 60% of the shares", "path": "kean-s/all_documents/5039."}, "s411": {"from": "henry.means@enron.com", "to": "", "subject": "Enron Mentions - 05/03/01", "text": "John Olson, an analyst at Sanders Morris Harris in Houston. \nIllinova, meanwhile, solved a big investor-related problem for Dynegy. Before \nthe merger, only 10% of Dynegy's shares were available to the public. As part \nof the deal, Watson convinced two of Dynegy's strategic partners, British Gas \nplc and Nova Chemicals, to sell their combined 50% stake for approximately \n$542 million in cash and 3,348,888 shares of a new convertible preferred \nstock. It also issued 3.3 million shares after the deal closed. \nThose moves increased Dynegy's float to more than 60% of the shares \noutstanding, which led money managers to flood in. The company's market \ncapitalization has since tripled to $18.3 billion. \nOperationally, in its effort to focus on power generation, trading and", "clipped": true, "phrase": "plc and Nova Chemicals, to sell their combined 50% stake for approximately", "path": "kean-s/all_documents/5039."}, "s412": {"from": "henry.means@enron.com", "to": "", "subject": "Enron Mentions - 05/03/01", "text": "the merger, only 10% of Dynegy's shares were available to the public. As part \nof the deal, Watson convinced two of Dynegy's strategic partners, British Gas \nplc and Nova Chemicals, to sell their combined 50% stake for approximately \n$542 million in cash and 3,348,888 shares of a new convertible preferred \nstock. It also issued 3.3 million shares after the deal closed. \nThose moves increased Dynegy's float to more than 60% of the shares \noutstanding, which led money managers to flood in. The company's market \ncapitalization has since tripled to $18.3 billion. \nOperationally, in its effort to focus on power generation, trading and \nmarketing, Dynegy has been dumping some of its mid-stream assets, such as", "clipped": true, "phrase": "$542 million in cash and 3,348,888 shares of a new convertible preferred", "path": "kean-s/all_documents/5039."}, "s396": {"from": "henry.means@enron.com", "to": "", "subject": "Enron Mentions - 05/03/01", "text": "in the Standard & Poor's 500. Since the Illinova deal was announced June 14, \n1999, Dynegy's stock has skyrocketed an astounding 207%, from $18.25 to \n$56.11. (One of those happy investors is San Francisco-based oil and gas \ngiant Chevron Corp., which owns about 27% of Dynegy.) \nFor Watson, who formed Dynegy in the late 1990s out of Houston energy company \nNGS Corp., where he was CEO and chairman, the success of the Illinova deal \nunderscores his quest to take power and trade it anywhere he wants, anytime \nhe wants, at any price he wants. That's why he dubbed the company Dynegy, a \nhybrid name taken by combining \"dynamic\" with \"energy.\" \nIf energy prices stay high and Dynegy's traders continue to make winning", "clipped": true, "phrase": "giant Chevron Corp., which owns about 27% of Dynegy.)", "path": "kean-s/all_documents/5039."}, "s391": {"from": "henry.means@enron.com", "to": "", "subject": "Enron Mentions - 05/03/01", "text": "generation assets and improving its operating efficiencies, Dynegy is seeing \nthe effects of the deal on its bottom line. \"Illinova has been extremely \naccretive to earnings,\" said M. Carol Coale, an analyst at Prudential \nSecurities in Houston. \nLast year, in fact, Dynegy's revenues nearly doubled to $29.4 billion, while \nits net earnings almost tripled to $452 million, or $1.43 per diluted share, \nas a result of the $4 billion Illinova deal. In the first quarter, Dynegy's \nnet earnings jumped 73%. \nInvestors have been amply rewarded. Dynegy's stock took off last year, \njumping 135% to $56.06 per share, making it the second best performing stock \nin the Standard & Poor's 500. Since the Illinova deal was announced June 14,", "clipped": true, "phrase": "Last year, in fact, Dynegy's revenues nearly doubled to $29.4 billion, while", "path": "kean-s/all_documents/5039."}, "s392": {"from": "henry.means@enron.com", "to": "", "subject": "Enron Mentions - 05/03/01", "text": "the effects of the deal on its bottom line. \"Illinova has been extremely \naccretive to earnings,\" said M. Carol Coale, an analyst at Prudential \nSecurities in Houston. \nLast year, in fact, Dynegy's revenues nearly doubled to $29.4 billion, while \nits net earnings almost tripled to $452 million, or $1.43 per diluted share, \nas a result of the $4 billion Illinova deal. In the first quarter, Dynegy's \nnet earnings jumped 73%. \nInvestors have been amply rewarded. Dynegy's stock took off last year, \njumping 135% to $56.06 per share, making it the second best performing stock \nin the Standard & Poor's 500. Since the Illinova deal was announced June 14, \n1999, Dynegy's stock has skyrocketed an astounding 207%, from $18.25 to", "clipped": true, "phrase": "its net earnings almost tripled to $452 million, or $1.43 per diluted share,", "path": "kean-s/all_documents/5039."}, "s394": {"from": "henry.means@enron.com", "to": "", "subject": "Enron Mentions - 05/03/01", "text": "its net earnings almost tripled to $452 million, or $1.43 per diluted share, \nas a result of the $4 billion Illinova deal. In the first quarter, Dynegy's \nnet earnings jumped 73%. \nInvestors have been amply rewarded. Dynegy's stock took off last year, \njumping 135% to $56.06 per share, making it the second best performing stock \nin the Standard & Poor's 500. Since the Illinova deal was announced June 14, \n1999, Dynegy's stock has skyrocketed an astounding 207%, from $18.25 to \n$56.11. (One of those happy investors is San Francisco-based oil and gas \ngiant Chevron Corp., which owns about 27% of Dynegy.) \nFor Watson, who formed Dynegy in the late 1990s out of Houston energy company \nNGS Corp., where he was CEO and chairman, the success of the Illinova deal", "clipped": true, "phrase": "jumping 135% to $56.06 per share, making it the second best performing stock", "path": "kean-s/all_documents/5039."}, "s395": {"from": "henry.means@enron.com", "to": "", "subject": "Enron Mentions - 05/03/01", "text": "net earnings jumped 73%. \nInvestors have been amply rewarded. Dynegy's stock took off last year, \njumping 135% to $56.06 per share, making it the second best performing stock \nin the Standard & Poor's 500. Since the Illinova deal was announced June 14, \n1999, Dynegy's stock has skyrocketed an astounding 207%, from $18.25 to \n$56.11. (One of those happy investors is San Francisco-based oil and gas \ngiant Chevron Corp., which owns about 27% of Dynegy.) \nFor Watson, who formed Dynegy in the late 1990s out of Houston energy company \nNGS Corp., where he was CEO and chairman, the success of the Illinova deal \nunderscores his quest to take power and trade it anywhere he wants, anytime \nhe wants, at any price he wants. That's why he dubbed the company Dynegy, a", "clipped": true, "phrase": "1999, Dynegy's stock has skyrocketed an astounding 207%, from $18.25 to", "path": "kean-s/all_documents/5039."}, "s399": {"from": "henry.means@enron.com", "to": "", "subject": "Enron Mentions - 05/03/01", "text": "he wants, at any price he wants. That's why he dubbed the company Dynegy, a \nhybrid name taken by combining \"dynamic\" with \"energy.\" \nIf energy prices stay high and Dynegy's traders continue to make winning \nbets, analysts expect the company's net earnings per share to increase \nanother 25% this year to $575 million, or $1.80 per share. But Dynegy hasn't \nbeen immune to the power crisis afflicting California, where it co-owns four \npower plants with NRG Energy Inc. of Minneapolis that generate 2,800 \nmegawatts of capacity. \nIndeed, since the crisis began, Dynegy's been defending itself against \nallegations that it's overcharging for power. \nThe California situation has hurt Dynegy in other ways, too. On April 6, for \nexample, its stock fell 5%, to $48.34, after utility Pacific Gas & Electric", "clipped": true, "phrase": "another 25% this year to $575 million, or $1.80 per share. But Dynegy hasn't", "path": "kean-s/all_documents/5039."}, "s414": {"from": "henry.means@enron.com", "to": "", "subject": "Enron Mentions - 05/03/01", "text": "$542 million in cash and 3,348,888 shares of a new convertible preferred \nstock. It also issued 3.3 million shares after the deal closed. \nThose moves increased Dynegy's float to more than 60% of the shares \noutstanding, which led money managers to flood in. The company's market \ncapitalization has since tripled to $18.3 billion. \nOperationally, in its effort to focus on power generation, trading and \nmarketing, Dynegy has been dumping some of its mid-stream assets, such as \nprocessing plants and pipelines, particularly in the mid-Continent region. \nThe idea now is to increase Dynegy's so-called merchant power capacity -- or \nthe electricity it sells wholesale to anyone who needs it -- to 70,000", "clipped": true, "phrase": "capitalization has since tripled to $18.3 billion.", "path": "kean-s/all_documents/5039."}, "s439": {"from": "henry.means@enron.com", "to": "", "subject": "Enron Mentions - 05/03/01", "text": "The largest out-of-state generators are in such robust financial shape that \nit might take weeks before they would feel such pain from a California \nboycott that they would be forced to lower prices. \nAfter making record profits last year, power wholesalers Enron, Reliant, \nDynegy, Duke Energy, Williams and Mirant and earned a combined $1.6 billion \nduring the first three months of this year. \n--- \nOn The Net: \nBay Area Economic Forum report: \nhttp://www.bayareacouncil.org/ppi/enp/enp-mid.html \nElectric Power Research Institute: http://www.epri.com \nUtility Consumers' Action Network Report: http://www.ucan.org/cartelrep2.htm\n\nINDIA: Indian banks appeal to govt to help end Enron row\n\n05/03/2001\nReuters English News Service\n(C) Reuters Limited 2001.", "clipped": true, "phrase": "Dynegy, Duke Energy, Williams and Mirant and earned a combined $1.6 billion", "path": "kean-s/all_documents/5033."}, "s387": {"from": "henry.means@enron.com", "to": "", "subject": "Enron Mentions - 05/03/01", "text": "participate in proposals for downstream gas projects and upstream gas \nenhancement. \n-By Dyala Sabbagh, Dow Jones Newswires; 9714 3314260; \ndyala.sabbagh@dowjones.com\n\nPost Mortem\nMissing link\nby Claire Poole\n\n05/03/2001\nThe Daily Deal\nCopyright (c) 2001 The Deal LLC\n\nBuying Illinova gave Dynegy a key piece in a puzzle for trading energy \nanywhere, anytime. \nWhen Chuck Watson decided to take his company beyond natural gas trading, he \nchanged its name to Dynegy Inc. and took as its logo a tangram, a seven-piece \npuzzle that can be assembled in thousands of ways. Buying utility Illinova \nCorp. in February 2000, gave him a piece for delivering such flexibility. \n\"The Illinova acquisition was probably the most well-timed and best conceived", "clipped": true, "phrase": "Buying Illinova gave Dynegy a key piece in a puzzle for trading energy", "path": "kean-s/all_documents/5039."}, "s389": {"from": "henry.means@enron.com", "to": "", "subject": "Enron Mentions - 05/03/01", "text": "buy of the year,\" raves Jeremy Butler, an analyst at Value Line Publishing \nInc.\nReportCard \nDYNEGY -- ILLINOVA \nStock Price A \nProfitability B+ \nStrategy A- \nBraintrust B \nCulture B \nCompetitive Position A \nOverall A- \nWhy? Besides providing electricity to 650,000 customers in a \n15,000-square-mile area in Illinois, Decatur, Ill.-based Illinova also had \nrecently received regulatory approval to transfer its coal and gas-fired \ngenerating plants -- 3,800 megawatts in all -- to an unregulated subsidiary \nas part of the state's deregulation of its electricity industry. \nThanks to soaring energy prices, as well as to $125 million to $165 million \nin overall earnings estimated or achieved from optimizing Illinova's", "clipped": true, "phrase": "Besides providing electricity to 650,000 customers in a", "path": "kean-s/all_documents/5039."}, "s390": {"from": "henry.means@enron.com", "to": "", "subject": "Enron Mentions - 05/03/01", "text": "Strategy A- \nBraintrust B \nCulture B \nCompetitive Position A \nOverall A- \nWhy? Besides providing electricity to 650,000 customers in a \n15,000-square-mile area in Illinois, Decatur, Ill.-based Illinova also had \nrecently received regulatory approval to transfer its coal and gas-fired \ngenerating plants -- 3,800 megawatts in all -- to an unregulated subsidiary \nas part of the state's deregulation of its electricity industry. \nThanks to soaring energy prices, as well as to $125 million to $165 million \nin overall earnings estimated or achieved from optimizing Illinova's \ngeneration assets and improving its operating efficiencies, Dynegy is seeing \nthe effects of the deal on its bottom line. \"Illinova has been extremely \naccretive to earnings,\" said M. Carol Coale, an analyst at Prudential", "clipped": true, "phrase": "generating plants -- 3,800 megawatts in all -- to an unregulated subsidiary", "path": "kean-s/all_documents/5039."}, "s393": {"from": "henry.means@enron.com", "to": "", "subject": "Enron Mentions - 05/03/01", "text": "accretive to earnings,\" said M. Carol Coale, an analyst at Prudential \nSecurities in Houston. \nLast year, in fact, Dynegy's revenues nearly doubled to $29.4 billion, while \nits net earnings almost tripled to $452 million, or $1.43 per diluted share, \nas a result of the $4 billion Illinova deal. In the first quarter, Dynegy's \nnet earnings jumped 73%. \nInvestors have been amply rewarded. Dynegy's stock took off last year, \njumping 135% to $56.06 per share, making it the second best performing stock \nin the Standard & Poor's 500. Since the Illinova deal was announced June 14, \n1999, Dynegy's stock has skyrocketed an astounding 207%, from $18.25 to \n$56.11. (One of those happy investors is San Francisco-based oil and gas", "clipped": true, "phrase": "as a result of the $4 billion Illinova deal. In the first quarter, Dynegy's", "path": "kean-s/all_documents/5039."}, "s409": {"from": "henry.means@enron.com", "to": "", "subject": "Enron Mentions - 05/03/01", "text": "to its business,\" Prudential's Coale said. \"But overall, it's been a great \ndeal.\" \nWhile keeping most of Illinova management in place, Dynegy made the company's \nchairman, president and CEO, Charles Bayless, a nonexecutive director of the \ncombined entity. Dynegy's also marketing and trading all of Illinova's 3,800 \nmegawatts of output. \"They've streamlined power generation and traded around \nthe assets while keeping the distribution business in a sweet spot,\" said \nJohn Olson, an analyst at Sanders Morris Harris in Houston. \nIllinova, meanwhile, solved a big investor-related problem for Dynegy. Before \nthe merger, only 10% of Dynegy's shares were available to the public. As part", "clipped": true, "phrase": "combined entity. Dynegy's also marketing and trading all of Illinova's 3,800", "path": "kean-s/all_documents/5039."}, "s435": {"from": "henry.means@enron.com", "to": "", "subject": "Enron Mentions - 05/03/01", "text": "1/14/00 Watson is betting that he can succeed where Enron failed: by \nhttp://www.thedeal.com/cgi-bin/gx.cgi/AppLogic%2BFTContentServer?pagename=Futu\n reTense/Apps/Xcelerate/Render&c=TDDArticle&cid=A13445-2000Jan14&preview=true \nto boost the fortunes of its lucrative energy trading business \n2/02/00 Dynegy, Illinova complete merger, creating a new entity named Dynegy \nInc. Shareholders in the previous Dynegy Inc. receive 0.69 shares in the new \ncompany, or $16.50 cash, for each of their shares, while Illinova \nstockholders receive one share for each of their shares. \n* Figure from 5/02/01 Source: The Deal \nBack to story \nhttp://www.thedeal.com\n\nWorld Bond Markets: Healthy Supply Boosts Activity In Eurobond Market --- \nGeneral Motors Acceptance, International Finance Launch\nDow Jones Newswires\n\n05/03/2001", "clipped": true, "phrase": "2/02/00 Dynegy, Illinova complete merger, creating a new entity named Dynegy", "path": "kean-s/all_documents/5039."}, "s436": {"from": "henry.means@enron.com", "to": "", "subject": "Enron Mentions - 05/03/01", "text": "reTense/Apps/Xcelerate/Render&c=TDDArticle&cid=A13445-2000Jan14&preview=true \nto boost the fortunes of its lucrative energy trading business \n2/02/00 Dynegy, Illinova complete merger, creating a new entity named Dynegy \nInc. Shareholders in the previous Dynegy Inc. receive 0.69 shares in the new \ncompany, or $16.50 cash, for each of their shares, while Illinova \nstockholders receive one share for each of their shares. \n* Figure from 5/02/01 Source: The Deal \nBack to story \nhttp://www.thedeal.com\n\nWorld Bond Markets: Healthy Supply Boosts Activity In Eurobond Market --- \nGeneral Motors Acceptance, International Finance Launch\nDow Jones Newswires\n\n05/03/2001\nThe Asian Wall Street Journal\nM9\n(Copyright (c) 2001, Dow Jones & Company, Inc.)", "clipped": true, "phrase": "Inc. Shareholders in the previous Dynegy Inc. receive 0.69 shares in the new", "path": "kean-s/all_documents/5039."}, "s437": {"from": "henry.means@enron.com", "to": "", "subject": "Enron Mentions - 05/03/01", "text": "President Charles L. (Chuck) Watson \nHeadquarters Houston \nMarket cap $13.6 billion* \nDate Action \n1/03/00 Federal regulators \nhttp://www.thedeal.com/cgi-bin/gx.cgi/AppLogic%2BFTContentServer?pagename=Futu\n reTense/Apps/Xcelerate/Render&c=TDDArticle&cid=A12621-2000Jan3&preview=true \nfor Dynegy Inc. and Illinova Corp. to complete their $2 billion merger \n1/06/00 Dynegy has to say in a release that the \nhttp://www.thedeal.com/cgi-bin/gx.cgi/AppLogic%2BFTContentServer?pagename=Futu\n reTense/Apps/Xcelerate/Render&c=TDDArticle&cid=A12891-2000Jan6&preview=true. \nLate in December the companies said the deal's completion, scheduled for Jan. \n4, would be postponed until mid-January because of a delay in Dynegy's sale \nof assets to El Paso Energy Corp.", "clipped": true, "phrase": "for Dynegy Inc. and Illinova Corp. to complete their $2 billion merger", "path": "kean-s/all_documents/5039."}, "s438": {"from": "henry.means@enron.com", "to": "", "subject": "Enron Mentions - 05/03/01", "text": "1/06/00 Dynegy has to say in a release that the \nhttp://www.thedeal.com/cgi-bin/gx.cgi/AppLogic%2BFTContentServer?pagename=Futu\n reTense/Apps/Xcelerate/Render&c=TDDArticle&cid=A12891-2000Jan6&preview=true. \nLate in December the companies said the deal's completion, scheduled for Jan. \n4, would be postponed until mid-January because of a delay in Dynegy's sale \nof assets to El Paso Energy Corp. \n1/14/00 Watson is betting that he can succeed where Enron failed: by \nhttp://www.thedeal.com/cgi-bin/gx.cgi/AppLogic%2BFTContentServer?pagename=Futu\n reTense/Apps/Xcelerate/Render&c=TDDArticle&cid=A13445-2000Jan14&preview=true \nto boost the fortunes of its lucrative energy trading business \n2/02/00 Dynegy, Illinova complete merger, creating a new entity named Dynegy", "clipped": true, "phrase": "4, would be postponed until mid-January because of a delay in Dynegy's sale", "path": "kean-s/all_documents/5039."}, "s388": {"from": "henry.means@enron.com", "to": "", "subject": "Enron Mentions - 05/03/01", "text": "dyala.sabbagh@dowjones.com\n\nPost Mortem\nMissing link\nby Claire Poole\n\n05/03/2001\nThe Daily Deal\nCopyright (c) 2001 The Deal LLC\n\nBuying Illinova gave Dynegy a key piece in a puzzle for trading energy \nanywhere, anytime. \nWhen Chuck Watson decided to take his company beyond natural gas trading, he \nchanged its name to Dynegy Inc. and took as its logo a tangram, a seven-piece \npuzzle that can be assembled in thousands of ways. Buying utility Illinova \nCorp. in February 2000, gave him a piece for delivering such flexibility. \n\"The Illinova acquisition was probably the most well-timed and best conceived \nbuy of the year,\" raves Jeremy Butler, an analyst at Value Line Publishing \nInc.\nReportCard \nDYNEGY -- ILLINOVA \nStock Price A \nProfitability B+ \nStrategy A- \nBraintrust B \nCulture B \nCompetitive Position A", "clipped": true, "phrase": "changed its name to Dynegy Inc. and took as its logo a tangram, a seven-piece", "path": "kean-s/all_documents/5039."}, "s398": {"from": "henry.means@enron.com", "to": "", "subject": "Enron Mentions - 05/03/01", "text": "giant Chevron Corp., which owns about 27% of Dynegy.) \nFor Watson, who formed Dynegy in the late 1990s out of Houston energy company \nNGS Corp., where he was CEO and chairman, the success of the Illinova deal \nunderscores his quest to take power and trade it anywhere he wants, anytime \nhe wants, at any price he wants. That's why he dubbed the company Dynegy, a \nhybrid name taken by combining \"dynamic\" with \"energy.\" \nIf energy prices stay high and Dynegy's traders continue to make winning \nbets, analysts expect the company's net earnings per share to increase \nanother 25% this year to $575 million, or $1.80 per share. But Dynegy hasn't \nbeen immune to the power crisis afflicting California, where it co-owns four \npower plants with NRG Energy Inc. of Minneapolis that generate 2,800", "clipped": true, "phrase": "he wants, at any price he wants. That's why he dubbed the company Dynegy, a", "path": "kean-s/all_documents/5039."}, "s1210": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions - 11/24/01 - 11/25/01", "text": "\"Dynegy has acted ethically and responsibly in California,\" said Dynegy spokesman John Sousa. \"The fundamental problem in California is that supply did not keep up with demand.\" \n\"Dynamic Energy\" \nAccused of Overcharging \nDynegy was created in 1984 as a natural gas trading operation known as Natural Gas Clearinghouse to take advantage of the deregulation of natural gas prices. Under Chief Executive Chuck Watson, the company has expanded into natural gas processing and distribution and electricity generation, changing its name along the way to Dynegy, a word created by combining \"dynamic\" and \"energy.\" \nIn California, Dynegy owns power plants capable of generating 2,800 megawatts of electricity through a partnership with NRG Energy Inc. of Minneapolis. (A megawatt can supply about 750 average homes with electricity.)", "clipped": true, "phrase": "Dynegy was created in 1984 as a natural gas trading operation known as Natural Gas Clearinghouse to take advantage of the deregulation of natural gas prices.", "path": "kitchen-l/_americas/sec_media/20."}, "s397": {"from": "henry.means@enron.com", "to": "", "subject": "Enron Mentions - 05/03/01", "text": "in the Standard & Poor's 500. Since the Illinova deal was announced June 14, \n1999, Dynegy's stock has skyrocketed an astounding 207%, from $18.25 to \n$56.11. (One of those happy investors is San Francisco-based oil and gas \ngiant Chevron Corp., which owns about 27% of Dynegy.) \nFor Watson, who formed Dynegy in the late 1990s out of Houston energy company \nNGS Corp., where he was CEO and chairman, the success of the Illinova deal \nunderscores his quest to take power and trade it anywhere he wants, anytime \nhe wants, at any price he wants. That's why he dubbed the company Dynegy, a \nhybrid name taken by combining \"dynamic\" with \"energy.\" \nIf energy prices stay high and Dynegy's traders continue to make winning \nbets, analysts expect the company's net earnings per share to increase", "clipped": true, "phrase": "For Watson, who formed Dynegy in the late 1990s out of Houston energy company", "path": "kean-s/all_documents/5039."}, "s427": {"from": "henry.means@enron.com", "to": "", "subject": "Enron Mentions - 05/03/01", "text": "That includes 1,160 megawatts of new natural gas-fired generation facilities \nin Georgia, Kentucky and Louisiana that are expected to begin commercial \noperation by June -- just in time for summer. \nLike its cross-town rival, Enron Corp., Dynegy has also expanded via \nacquisitions into broadband telecommunications. (Dynegy also competes with \nHouston-based Reliant Energy and Charlotte, N.C.-based Duke Energy.) \nBoth Enron and Dynegy see a big opportunity in broadband, given that there \nare few other suppliers and that managing its movement is akin to what's \ninvolved with natural gas or electricity. \nIn August, Dynegy announced it was acquiring Aurora, Colo.-based Extant Inc., \na privately held developer of telecom solutions, for $188 million in cash and", "clipped": true, "phrase": "acquisitions into broadband telecommunications. (Dynegy also competes with", "path": "kean-s/all_documents/5039."}, "s472": {"from": "ann.schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "leverage aggressively any assets within its network infrastructure. \n\t\t\"We would not rule out substantial transactions,\" he said. \n\t\tDynegy told analysts it was looking for 10 per cent of the US power market \nand an ongoing 15 per cent share of the US gas market. \n\t\tDynegy and its competitors, including Enron and El Paso, have been recording \nbig profits in the past two quarters, and and have come under fire from \nregulators over the California power crisis. \n\t\tCopyright: The Financial Times Limited", "clipped": true, "phrase": "Dynegy and its competitors, including Enron and El Paso, have been recording", "path": "kean-s/all_documents/4771."}, "s477": {"from": "ann.schmidt@enron.com", "to": "", "subject": "Enron Mentions - 05/26/01 - 05/27/01", "text": "the year. \nDynegy's executives also benefited from the company's rapid growth. Two of \nthe merchant energy company executives were among the 14 highest-paid \nexecutives in Houston. \n\"We had an incredible year last year,\" said Jennifer Rosser, director of \nstrategic business communications. The stock price increased 231 percent, the \nnumber of employees more than doubled, and the company had a 210 percent \nincrease in net income. \nChuck Watson, chairman and CEO, and Steve Bergstrom, the company's president, \nare among the founders of the company, she said. \nIncentive plans based on options and awards of stock work well when the stock \nmarket is riding high. They aren't as effective when the stock prices are \n\"underwater\" - Wall Street lingo for worthless. \nSo, to re-motivate executives in a depressed stock market, nonenergy", "clipped": true, "phrase": "The stock price increased 231 percent, the \nnumber of employees more than doubled, and the company had a 210 percent \nincrease in net income.", "path": "kean-s/all_documents/4731."}, "s476": {"from": "ann.schmidt@enron.com", "to": "", "subject": "Enron Mentions - 05/26/01 - 05/27/01", "text": "company by the end of the year, she said. It catapulted into the top in terms \nof production, employees and reserves, she said. \nThe executives are being rewarded for that increased risk and responsibility, \nshe said. And it didn't hurt that the stock price more than doubled during \nthe year. \nDynegy's executives also benefited from the company's rapid growth. Two of \nthe merchant energy company executives were among the 14 highest-paid \nexecutives in Houston. \n\"We had an incredible year last year,\" said Jennifer Rosser, director of \nstrategic business communications. The stock price increased 231 percent, the \nnumber of employees more than doubled, and the company had a 210 percent \nincrease in net income. \nChuck Watson, chairman and CEO, and Steve Bergstrom, the company's president, \nare among the founders of the company, she said.", "clipped": true, "phrase": "Dynegy's executives also benefited from the company's rapid growth. Two of \nthe merchant energy company executives were among the 14 highest-paid \nexecutives in Houston.", "path": "kean-s/all_documents/4731."}, "s561": {"from": "j..kean@enron.com", "to": "m..presto@enron.com", "subject": "FW: Wash. Post Article--Part Three Today", "text": "In the city's energy alley, Enron Corp. -- with annual sales of more than $100 billion last year, double those of Texaco -- is finishing a new 40-floor office building adjacent to its 50-story tower. Enron's competitors, Dynegy Inc., Reliant Energy and El Paso Energy, are a few blocks away. Duke Energy North American, merchant arm of Charlotte-based Duke Power, has settled in as well. And Calpine Corp. plans to take over 12 floors of a new 32-story building near Enron.", "clipped": true, "phrase": "Enron's competitors, Dynegy Inc., Reliant Energy and El Paso Energy, are a few blocks away.", "path": "kean-s/sent_items/301."}, "s577": {"from": "bill.williams@enron.com", "to": "jhadams69@aol.com", "subject": "RE: Homework", "text": "How close are we to having BPA's transmission system under FERC jurisdiction?  What does Enron think of that, or do they care?\nDynegy, Exelon, Entergy, Cinergy -- who are these guys?    Dynegy and Exelon are power companies (like Enron)-Entergy and Cinergy are trading regions. And we would love to have BPA under FERC jurisdiction but it will likely not happen soon. \n\n\"Exelon said ... it would reduce its ... 2001 estimates due to power market volatility and ... it would cut an (additional) 450 positions.\"   Does Enron employment fluctuate with the market, or did Exelon just do a shitty job?  That would be the latter.", "clipped": true, "phrase": "Dynegy and Exelon are power companies (like Enron)-Entergy and Cinergy are trading regions.", "path": "williams-w3/sent_items/181."}, "s578": {"from": "rahil.jafry@enron.com", "to": "louise.kitchen@enron.com", "subject": "Fw: Rahil Jafry: USA:   UPDATE 4-Dynegy hits upper end of Q3   earnings targets.", "text": "10/15/2001\nReuters English News Service\n(C) Reuters Limited 2001.\n\nHOUSTON, Oct 15 (Reuters) - Natural gas and power marketer and trader Dynegy\nInc. said on Monday that third-quarter net earnings rose 62 percent, as its\nbackbone wholesale energy business nearly doubled its returns.\n\nThe Houston-based company said earnings rose to $286 million, or 85 cents per\ndiluted share, from $177 million, or 55 cents per diluted share, for the same\nperiod of 2000.\nCompanywide operating revenues rose to $8.51 billion in the third quarter of\n2001, versus $8.36 billion in the similar year-ago period.\n\nAnalysts polled by Thomson Financial/First Call expected earnings in a range\nof 77 cents to 85 cents a share, with a mean estimate of 82 cents.\n\nDynegy also said it raised its earnings estimate for the 2001 year to a range\nof $2.09 to $2.10 per diluted share from the $2.07 target set on Oct. 1. It", "clipped": true, "phrase": "The Houston-based company said earnings rose to $286 million, or 85 cents per\ndiluted share, from $177 million, or 55 cents per diluted share, for the same\nperiod of 2000.", "path": "kitchen-l/_americas/east_power/32."}, "s595": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "FOCUS NOT ON EARNINGS \n\"The focus (for investors) has been and continues to be outside of earnings, that is, the war on terrorism specifically,\" he said. \nDynegy Inc. , a natural gas and power marketer and trader, on Monday said third-quarter earnings rose 62 percent as its backbone wholesale energy business nearly doubled its returns. While Enron posted a loss, it reported that its profit excluding charges rose 35 percent due to strong performance in its core energy business. \n\"Energy companies manage to earn pretty good money even when prices are down,\" said Jon Burnham, portfolio manager for the $170 million Burnham Fund. \"These are good, well-financed companies.\"", "clipped": true, "phrase": "Dynegy Inc. , a natural gas and power marketer and trader, on Monday said third-quarter earnings rose 62 percent as its backbone wholesale energy business nearly doubled its returns.", "path": "kean-s/deleted_items/136."}, "s579": {"from": "rahil.jafry@enron.com", "to": "louise.kitchen@enron.com", "subject": "Fw: Rahil Jafry: USA:   UPDATE 4-Dynegy hits upper end of Q3   earnings targets.", "text": "backbone wholesale energy business nearly doubled its returns.\n\nThe Houston-based company said earnings rose to $286 million, or 85 cents per\ndiluted share, from $177 million, or 55 cents per diluted share, for the same\nperiod of 2000.\nCompanywide operating revenues rose to $8.51 billion in the third quarter of\n2001, versus $8.36 billion in the similar year-ago period.\n\nAnalysts polled by Thomson Financial/First Call expected earnings in a range\nof 77 cents to 85 cents a share, with a mean estimate of 82 cents.\n\nDynegy also said it raised its earnings estimate for the 2001 year to a range\nof $2.09 to $2.10 per diluted share from the $2.07 target set on Oct. 1. It\nmaintained a fourth-quarter forecast of 40 cents to 41 cents a share and a\n2002 forecast of $2.50 to $2.60 share. All are in line with analysts'", "clipped": true, "phrase": "Companywide operating revenues rose to $8.51 billion in the third quarter of\n2001, versus $8.36 billion in the similar year-ago period.", "path": "kitchen-l/_americas/east_power/32."}, "s580": {"from": "rahil.jafry@enron.com", "to": "louise.kitchen@enron.com", "subject": "Fw: Rahil Jafry: USA:   UPDATE 4-Dynegy hits upper end of Q3   earnings targets.", "text": "period of 2000.\nCompanywide operating revenues rose to $8.51 billion in the third quarter of\n2001, versus $8.36 billion in the similar year-ago period.\n\nAnalysts polled by Thomson Financial/First Call expected earnings in a range\nof 77 cents to 85 cents a share, with a mean estimate of 82 cents.\n\nDynegy also said it raised its earnings estimate for the 2001 year to a range\nof $2.09 to $2.10 per diluted share from the $2.07 target set on Oct. 1. It\nmaintained a fourth-quarter forecast of 40 cents to 41 cents a share and a\n2002 forecast of $2.50 to $2.60 share. All are in line with analysts'\nestimates.\n\nChief Financial Officer Robert Doty said that the company was on track to\nachieve 20 percent to 25 percent earnings growth next year.\n\n\"Our long-term strategy to focus on marketing and trading around physical\nassets supports earnings sustainability,\" Chairman and Chief Executive Officer", "clipped": true, "phrase": "Dynegy also said it raised its earnings estimate for the 2001 year to a range\nof $2.09 to $2.10 per diluted share from the $2.07 target set on Oct. 1.", "path": "kitchen-l/_americas/east_power/32."}, "s581": {"from": "rahil.jafry@enron.com", "to": "louise.kitchen@enron.com", "subject": "Fw: Rahil Jafry: USA:   UPDATE 4-Dynegy hits upper end of Q3   earnings targets.", "text": "of $2.09 to $2.10 per diluted share from the $2.07 target set on Oct. 1. It\nmaintained a fourth-quarter forecast of 40 cents to 41 cents a share and a\n2002 forecast of $2.50 to $2.60 share. All are in line with analysts'\nestimates.\n\nChief Financial Officer Robert Doty said that the company was on track to\nachieve 20 percent to 25 percent earnings growth next year.\n\n\"Our long-term strategy to focus on marketing and trading around physical\nassets supports earnings sustainability,\" Chairman and Chief Executive Officer\nChuck Watson said in a statement.\n\n\"I would say the company's ability to continuously post strong earnings growth\nillustrates their ability to successfully navigate through wildly various\noperating environments,\" UBS Warburg analyst Jay Yannello said. \"This company", "clipped": true, "phrase": "Chief Financial Officer Robert Doty said that the company was on track to\nachieve 20 percent to 25 percent earnings growth next year.", "path": "kitchen-l/_americas/east_power/32."}, "s592": {"from": "rahil.jafry@enron.com", "to": "louise.kitchen@enron.com", "subject": "Fw: Rahil Jafry: USA:   UPDATE 4-Dynegy hits upper end of Q3   earnings targets.", "text": "quarter, the company said. Since its birth in November 2000, Dynegydirect has\nrecorded $33 billion in transactions.\n\nDynegy recently expanded the platform, its answer to hometown rival Enron\nCorp.'s wildly successful EnronOnline trading platform, into British energy\nmarkets.\n\nOne nominally lower performer this year was Illinois Power, Dynegy's regulated\ntransmission and distribution subsidiary. It reported recurring net income of\n$26 million versus $27 million a year earlier. Dynegy attributed the smaller\nfigure to a reduced industrial load.\n\nThe company's new communications segment took a $15 million loss for the\nquarter, mostly from costs associated with developing its 16,000-mile network.\nThe network reaches 44 U.S. cities and is expected to be completed in the\nfourth quarter.\n\nDynegy expects that segment to record a fourth-quarter loss of nil to 3 cents", "clipped": true, "phrase": "One nominally lower performer this year was Illinois Power, Dynegy's regulated\ntransmission and distribution subsidiary. It reported recurring net income of\n$26 million versus $27 million a year earlier.", "path": "kitchen-l/_americas/east_power/32."}, "s606": {"from": "issuealert@scientech.com", "to": "issuealerthtml@listserv.scientech.com", "subject": "Caminus and Altra Energy Partner to Create Full-Service   Trading             Software Provider", "text": "_____  \n\nClarification Statement to 10/16/01 IssueAlert on Dynegy: In its 3Q 2001 earnings statement, Dynegy reported that net income of its transmission and distribution company Illinois Power was $26 million, versus $27 million in 3Q 2000. In the 10/16 column, we incorrectly stated that Illinois Power had taken a loss of $15 million. The loss of $15 million was reported by Dynegy's telecommunications segment, which was duly noted in the article. We apologize for any confusion this error might have caused. \n\n  _____  \n\nAn archive list of previous IssueAlerts is available at\nwww.scientech.com <http://secure.scientech.com/issuealert/>", "clipped": true, "phrase": "Clarification Statement to 10/16/01 IssueAlert on Dynegy: In its 3Q 2001 earnings statement, Dynegy reported that net income of its transmission and distribution company Illinois Power was $26 million, versus $27 million in 3Q 2000.", "path": "kean-s/deleted_items/42."}, "s586": {"from": "rahil.jafry@enron.com", "to": "louise.kitchen@enron.com", "subject": "Fw: Rahil Jafry: USA:   UPDATE 4-Dynegy hits upper end of Q3   earnings targets.", "text": "bankruptcy in April and filed a reorganization plan on Sept. 20. Edison\nInternational's Southern California Edison utility plans to pay off its\ncreditors by March, under a settlement it reached with the CPUC.\n\nWHOLESALE INCOME NEARLY DOUBLES\n\nDynegy Marketing and Trade, the company's main wholesale business, reported an\n85 percent year-over-year increase in recurring net income, taking in $263\nmillion this year compared with $142 million in the comparable quarter in\n2000.\n\nAmong other things, Dynegy trades wholesale natural gas, power, coal, emission\nallowances and weather derivatives.\n\nThe company attributed part of its improved performance this quarter to better\nresults in European and Canadian operations, including increased gas marketing\nin Canada.\n\nNorth American natural gas volumes grew 12 percent to 11.0 billion cubic feet\nper day (Bcf/d) in the quarter, rising from 9.8 Bcf/d in the year-earlier", "clipped": true, "phrase": "Dynegy Marketing and Trade, the company's main wholesale business, reported an\n85 percent year-over-year increase in recurring net income, taking in $263\nmillion this year compared with $142 million in the comparable quarter in\n2000.", "path": "kitchen-l/_americas/east_power/32."}, "s587": {"from": "rahil.jafry@enron.com", "to": "louise.kitchen@enron.com", "subject": "Fw: Rahil Jafry: USA:   UPDATE 4-Dynegy hits upper end of Q3   earnings targets.", "text": "WHOLESALE INCOME NEARLY DOUBLES\n\nDynegy Marketing and Trade, the company's main wholesale business, reported an\n85 percent year-over-year increase in recurring net income, taking in $263\nmillion this year compared with $142 million in the comparable quarter in\n2000.\n\nAmong other things, Dynegy trades wholesale natural gas, power, coal, emission\nallowances and weather derivatives.\n\nThe company attributed part of its improved performance this quarter to better\nresults in European and Canadian operations, including increased gas marketing\nin Canada.\n\nNorth American natural gas volumes grew 12 percent to 11.0 billion cubic feet\nper day (Bcf/d) in the quarter, rising from 9.8 Bcf/d in the year-earlier\nperiod. Total physical power sales increased 86 percent to 90.5 million", "clipped": true, "phrase": "Among other things, Dynegy trades wholesale natural gas, power, coal, emission\nallowances and weather derivatives.", "path": "kitchen-l/_americas/east_power/32."}, "s585": {"from": "rahil.jafry@enron.com", "to": "louise.kitchen@enron.com", "subject": "Fw: Rahil Jafry: USA:   UPDATE 4-Dynegy hits upper end of Q3   earnings targets.", "text": "market is making is that Dynegy and others would lose value in their\ncontracts.\"\n\nDynegy still has an accounts receivable balance of about $320 to $325 million\nfor power it produced for cash-challenged California utilities. \"We're not out\nof the woods yet,\" said President and Chief Operating Officer Stephen\nBergstrom on a conference call.\n\nBut he noted there could be some resolution by the second or third quarter of\nnext year. After all, PG&E Corp.'s Pacific and Gas Electric utility sought\nbankruptcy in April and filed a reorganization plan on Sept. 20. Edison\nInternational's Southern California Edison utility plans to pay off its\ncreditors by March, under a settlement it reached with the CPUC.\n\nWHOLESALE INCOME NEARLY DOUBLES", "clipped": true, "phrase": "\"We're not out\nof the woods yet,\" said President and Chief Operating Officer Stephen\nBergstrom on a conference call.", "path": "kitchen-l/_americas/east_power/32."}, "s619": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "He pointed to ChevronTexaco Corp. (CHX) as a target for those services. \"They have offices that never talked to each before,\" he said. \"Now they've got to talk to each other. I would say that the credit quality of Chevron and Texaco is pretty reasonable.\" \nChevronTexaco owns about 26% of Dynegy, said a Dynegy spokesman. Dynegy and ChevronTexaco already have a large energy trading relationship which includes natural gas and gas liquids. \nThe average burn rate of Dynegy Global Communications, the corporation's telecommunications unit, is $20 million to $25 million a quarter, Watson said. In the third quarter, it lost $15 million, down from $20 million in the second quarter. \nDynegy predicts that Global Communications will break even or record a small loss before interest and taxes in the fourth quarter.", "clipped": true, "phrase": "ChevronTexaco owns about 26% of Dynegy, said a Dynegy spokesman. Dynegy and ChevronTexaco already have a large energy trading relationship which includes natural gas and gas liquids.", "path": "kean-s/deleted_items/106."}, "s1187": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions - 11/26/01", "text": "Now, he may have something: a big stake in the No. 1 energy-trading company. Chevron Corp. has owned 26% of Dynegy Inc. since 1996, and with Dynegy's planned acquisition of Enron Corp., the top energy trader, ChevronTexaco is making the oil industry's most aggressive push yet into this fast-growing business. It plans to eventually pump $2.5 billion into the combined Dynegy and Enron to maintain its 26% stake, and it might raise that share. So, while ChevronTexaco's much bigger rivals run small in-house trading operations, energy trading may soon account for more than 10% of ChevronTexaco's earnings. ``Chevron is now positioned to be a leader in the business,'' says analyst Arjun Murti at Goldman, Sachs & Co.", "clipped": true, "phrase": "Chevron Corp. has owned 26% of Dynegy Inc. since 1996, and with Dynegy's planned acquisition of Enron Corp., the top energy trader, ChevronTexaco is making the oil industry's most aggressive push yet into this fast-growing business.", "path": "kean-s/deleted_items/478."}, "s629": {"from": "issuealert@scientech.com", "to": "issuealerthtml@listserv.scientech.com", "subject": "Dynegy vs. Enron:  A Tale of Two Companies", "text": "at expectations in the third quarter, reporting that its earnings rose to $286 million, or 85 cents per diluted share, from $177 million, or 55 cents per diluted share, for the same period in 2000. This represented a 22-percent increase from 3Q 2000 and boosted the company's 2001 earnings estimate. Dynegy has a market capitalization of $14.5 billion. Its stock is currently trading at about $43 down from a 52-week high of $59, although it is important to note that for year-end 2000 the company's stock was one of the top performers among Standard & Poor's 500 companies with a total shareholder return of 218 percent. Dynegy employs 5,778 people.", "clipped": true, "phrase": "Dynegy has a market capitalization of $14.5 billion.", "path": "kean-s/deleted_items/213."}, "s644": {"from": "rahil.jafry@enron.com", "to": "louise.kitchen@enron.com", "subject": "FW:      Dynegy vs. Enron:  A Tale of Two Companies", "text": "at expectations in the third quarter, reporting that its earnings rose to $286 million, or 85 cents per diluted share, from $177 million, or 55 cents per diluted share, for the same period in 2000. This represented a 22-percent increase from 3Q 2000 and boosted the company's 2001 earnings estimate. Dynegy has a market capitalization of $14.5 billion. Its stock is currently trading at about $43 down from a 52-week high of $59, although it is important to note that for year-end 2000 the company's stock was one of the top performers among Standard & Poor's 500 companies with a total shareholder return of 218 percent. Dynegy employs 5,778 people.", "clipped": true, "phrase": "Dynegy has a market capitalization of $14.5 billion.", "path": "kitchen-l/_americas/mrha/ooc/26."}, "s628": {"from": "issuealert@scientech.com", "to": "issuealerthtml@listserv.scientech.com", "subject": "Dynegy vs. Enron:  A Tale of Two Companies", "text": "October 24, 2001 \n\nDynegy vs. Enron:\nA \"Tale of Two Companies\" \n\nBy Will McNamara\nDirector, Electric Industry Analysis \n\n  <http://secure.scientech.com/rci/wsimages/will100border_copy.jpg>\n\nFacts: Dynegy Inc. (NYSE: DYN) beat expectations in the third quarter, reporting that its earnings rose to $286 million, or 85 cents per diluted share, from $177 million, or 55 cents per diluted share, for the same period in 2000. This represented a 22-percent increase from 3Q 2000 and boosted the company's 2001 earnings estimate. Dynegy has a market capitalization of $14.5 billion. Its stock is currently trading at about $43 down from a 52-week high of $59, although it is important to note that for year-end 2000 the company's stock was one of the top performers among Standard & Poor's 500 companies with a total shareholder return of 218 percent. Dynegy employs 5,778 peo", "clipped": true, "phrase": "reporting that its earnings rose to $286 million, or 85 cents per diluted share, from $177 million, or 55 cents per diluted share, for the same period in 2000", "path": "kean-s/deleted_items/213."}, "s643": {"from": "rahil.jafry@enron.com", "to": "louise.kitchen@enron.com", "subject": "FW:      Dynegy vs. Enron:  A Tale of Two Companies", "text": "October 24, 2001 \n\nDynegy vs. Enron:\nA \"Tale of Two Companies\" \n\nBy Will McNamara\nDirector, Electric Industry Analysis \n\n  <http://secure.scientech.com/rci/wsimages/will100border_copy.jpg>\n\nFacts: Dynegy Inc. (NYSE: DYN) beat expectations in the third quarter, reporting that its earnings rose to $286 million, or 85 cents per diluted share, from $177 million, or 55 cents per diluted share, for the same period in 2000. This represented a 22-percent increase from 3Q 2000 and boosted the company's 2001 earnings estimate. Dynegy has a market capitalization of $14.5 billion. Its stock is currently trading at about $43 down from a 52-week high of $59, although it is important to note that for year-end 2000 the company's stock was one of the top performers among Standard & Poor's 500 companies with a total shareholder return of 218 percent. Dynegy employs 5,778 peo", "clipped": true, "phrase": "reporting that its earnings rose to $286 million, or 85 cents per diluted share, from $177 million, or 55 cents per diluted share, for the same period in 2000", "path": "kitchen-l/_americas/mrha/ooc/26."}, "s635": {"from": "issuealert@scientech.com", "to": "issuealerthtml@listserv.scientech.com", "subject": "Dynegy vs. Enron:  A Tale of Two Companies", "text": "attempting to replicate this approach in Europe, where it is presently planning to purchase natural-gas storage facilities in England. Dynegy executives have argued that natural-gas storage is the best way to back up a natural-gas trading operation. There's no question that the approach is working. Out of the $286 million that Dynegy reported in the third quarter, $263 million of it came from the company's main wholesale business.", "clipped": true, "phrase": "Out of the $286 million that Dynegy reported in the third quarter, $263 million of it came from the company's main wholesale business.", "path": "kean-s/deleted_items/213."}, "s651": {"from": "rahil.jafry@enron.com", "to": "louise.kitchen@enron.com", "subject": "FW:      Dynegy vs. Enron:  A Tale of Two Companies", "text": "attempting to replicate this approach in Europe, where it is presently planning to purchase natural-gas storage facilities in England. Dynegy executives have argued that natural-gas storage is the best way to back up a natural-gas trading operation. There's no question that the approach is working. Out of the $286 million that Dynegy reported in the third quarter, $263 million of it came from the company's main wholesale business.", "clipped": true, "phrase": "Out of the $286 million that Dynegy reported in the third quarter, $263 million of it came from the company's main wholesale business.", "path": "kitchen-l/_americas/mrha/ooc/26."}, "s645": {"from": "rahil.jafry@enron.com", "to": "louise.kitchen@enron.com", "subject": "FW:      Dynegy vs. Enron:  A Tale of Two Companies", "text": "for the same period in 2000. This represented a 22-percent increase from 3Q 2000 and boosted the company's 2001 earnings estimate. Dynegy has a market capitalization of $14.5 billion. Its stock is currently trading at about $43 down from a 52-week high of $59, although it is important to note that for year-end 2000 the company's stock was one of the top performers among Standard & Poor's 500 companies with a total shareholder return of 218 percent. Dynegy employs 5,778 people.", "clipped": true, "phrase": "for year-end 2000 the company's stock was one of the top performers among Standard &amp; Poor's 500 companies with a total shareholder return of 218 percent", "path": "kitchen-l/_americas/mrha/ooc/26."}, "s655": {"from": "rahil.jafry@enron.com", "to": "louise.kitchen@enron.com", "subject": "FW:      Dynegy vs. Enron:  A Tale of Two Companies", "text": "to their approaches toward financial reporting. Enron, which has often been accused of not providing a balance sheet to investors, is currently struggling from a serious image problem as the Securities and Exchange Commission pursues an investigation of possible mishandling of funds by Enron's CFO. To my recollection, no one has ever accused Dynegy of not providing a balance sheet, and thus the company's status with investors is arguably more solid. As I don't expect either company to radically alter its competitive strategy any time soon, my projection is that (at least in the near term), we will continue to see a wide disparity in Wall Street performance between Dynegy and Enron. That is not to say that anyone should count Enron out of the game. As noted, the company's core business of wholesale business remains strong, but clearly has been tainted by the impact of other non-core business", "clipped": true, "phrase": "To my recollection, no one has ever accused Dynegy of not providing a balance sheet, and thus the company's status with investors is arguably more solid.", "path": "kitchen-l/_americas/mrha/ooc/26."}, "s674": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "Asked about Dynegy's use of off-balance-sheet financing, spokesman John Sousa drew a contrast between his own company and Enron, saying Dynegy had no financing that was backed by issuance of stock, nor any \"related party transactions\". \nFORMER HIGH-FLIERS SHUNNED \nAnalysts said that in the current uncertain investment climate, investors are shunning trading-oriented companies' whose stocks had previously commanded high price-earnings multiples and seeking out more modestly valued companies which own physical assets such as power plants and natural gas pipelines.", "clipped": true, "phrase": "spokesman John Sousa drew a contrast between his own company and Enron, saying Dynegy had no financing that was backed by issuance of stock, nor any \"related party transactions\".", "path": "kitchen-l/_americas/sec_media/59."}, "s693": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "with its energy trading business. \n\n  Dynegy is the number two player in the U.S. energy trading market and would\nclearly become the dominant player were it to merge with or acquire Enron. A\nDynegy spokesman declined comment. \n\n  While Dynegy has off-balance sheet financings that are similar to Enron's,\nthose financings are not guaranteed by the parent. \n  It is such guarantees that have concerned Enron investors along with a series\nof questionable investments. \n\n  Given the massive decline in Enron's stock price, Dynegy now has a market\nvalue that is twice that of Enron. \n\n  That decline in Enron's stock price would make any equity infusion heavily\ndilutive, if private equity firms were to choose to invest in Enron they would", "clipped": true, "phrase": "While Dynegy has off-balance sheet financings that are similar to Enron's,\nthose financings are not guaranteed by the parent.", "path": "kitchen-l/_americas/sec_media/46."}, "s660": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "to Enron could fail if Enron can't perform,'' said Jeff Caughron,\nmanager of $400 million in investments for Tinker Federal Credit\nUnion in Oklahoma City. ``If it goes down, there could be a big\nripple effect.''\n\n     The effect has already spread as investors worry Enron won't\nbe able to pay bills owed to power producers such as Calpine\nCorp., Dynegy Inc., Mirant Corp. and NRG Inc., said Chris\nEllinghaus, an analyst at Williams Capital Group. As a group,\nshares of the four have fallen 11 percent in the past week.\n\n     ``Rumors that these companies have receivables with Enron are\nfueling a sell-off,'' he said. ``Both traders and companies\nselling power to Enron are suffering.''\n\n--Russell Hubbard in the Princeton newsroom at 609-750-XXXX, or at\nrhubbard2@Bloomberg.net and Liz Goldenberg in the New York", "clipped": true, "phrase": "investors worry Enron won't\nbe able to pay bills owed to power producers such as Calpine\nCorp., Dynegy Inc., Mirant Corp. and NRG Inc.", "path": "kitchen-l/_americas/sec_media/71."}, "s686": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "The two companies, with headquarters in downtown Houston, are seen as die-hard rivals. That could make it difficult for Mr. Lay to accept any overture from Dynegy Chairman Chuck Watson. Dynegy's largest single investor is ChevronTexaco Corp., of San Francisco, which has profited handsomely from a 28% equity stake in Dynegy. \nAn overture from Coral Energy, Royal Dutch Shell's marketing and trading unit, might receive a more receptive response from Enron, some onlookers say.", "clipped": true, "phrase": "Dynegy's largest single investor is ChevronTexaco Corp., of San Francisco, which has profited handsomely from a 28% equity stake in Dynegy.", "path": "kitchen-l/_americas/sec_media/49."}, "s687": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "By comparison, Enron's rivals in the merchant energy marketing and trading arena have sharply lower rankings. For example, Dynegy Inc. (DYN) weighs in at 1.26, while El Paso Corp. (EPG) is at 1.90, and Williams Cos. (WMB) at 1.38. \nThe Enron spokeswoman was surprised to discover the listing and said it was appearing \"by mistake.\" She confirmed the information was accurate. Enron is updating its rating internally. \nEnron Credit Under Microscope", "clipped": true, "phrase": "For example, Dynegy Inc. (DYN) weighs in at 1.26, while El Paso Corp. (EPG) is at 1.90, and Williams Cos. (WMB) at 1.38.", "path": "kitchen-l/_americas/sec_media/49."}, "s732": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "The sticking point to proceeding with the deal, according to the executives, is whether Enron's credit rating will be reduced to ''junk'' status by the major credit rating agencies in reaction to Enron's disclosures and its plan to be acquired by Dynegy. \nDynegy and Enron have provided pro forma statements of what a combined Dynegy-Enron would look like and asked Standard & Poor's and Moody's Investors Service for an ''expedited review'' of the transaction. \nDynegy and ChevronTexaco are also privately considering whether to offer a bigger cash infusion to buoy Enron's credit rating -- now just two notches from falling below investment grade -- if the agencies look askance at the current deal. The companies are hoping for a response within the next day or two, the executives said.", "clipped": true, "phrase": "Dynegy and Enron have provided pro forma statements of what a combined Dynegy-Enron would look like and asked Standard &amp; Poor's and Moody's Investors Service for an ''expedited review'' of the transaction.", "path": "kitchen-l/_americas/sec_media/42."}, "s733": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "Dynegy and Enron have provided pro forma statements of what a combined Dynegy-Enron would look like and asked Standard & Poor's and Moody's Investors Service for an ''expedited review'' of the transaction. \nDynegy and ChevronTexaco are also privately considering whether to offer a bigger cash infusion to buoy Enron's credit rating -- now just two notches from falling below investment grade -- if the agencies look askance at the current deal. The companies are hoping for a response within the next day or two, the executives said. \nThe executives also said Dynegy was seeking further protections that would allow it to back out of the deal if new, adverse disclosures surfaced.", "clipped": true, "phrase": "Dynegy and ChevronTexaco are also privately considering whether to offer a bigger cash infusion to buoy Enron's credit rating", "path": "kitchen-l/_americas/sec_media/42."}, "s735": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "The executives also said Dynegy was seeking further protections that would allow it to back out of the deal if new, adverse disclosures surfaced. \nShares of Dynegy rose sharply yesterday, although it was not clear whether buyers believed that the company -- one-quarter the size of Enron, in terms of revenues -- was getting a bargain or that Enron's latest disclosures would lead to the deal's being abandoned. Dynegy rose $3.50, or 10.6 percent, to $36.50, gaining back all of the ground lost on Wednesday after news of the deal leaked. Enron shares fell 64 cents, or 7.1 percent, to $8.41. Less than a year ago, Enron traded for more than $84 a share, and the company was valued at nearly $70 billion.", "clipped": true, "phrase": "one-quarter the size of Enron, in terms of revenues", "path": "kitchen-l/_americas/sec_media/42."}, "s737": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "s -- and whose influential friends include President Bush -- is the one who points to the bleachers. Dynegy's chairman and chief executive, Charles L. Watson, is less well known but is well respected among stock analysts. He also started small, nurturing his energy trading and generating company -- which had $33 billion in revenue for the nine months ended Sept. 30 -- from a natural gas trading concern he began in the mid-80's.", "clipped": true, "phrase": "which had $33 billion in revenue for the nine months ended Sept. 30", "path": "kitchen-l/_americas/sec_media/42."}, "s745": {"from": "matthew.lenhart@enron.com", "to": "hal.lenhart@apollogrp.edu", "subject": "RE:", "text": "Sent:\tFriday, November 09, 2001 8:51 AM\nTo:\tLenhart, Matthew\nSubject:\tRE:\n\nSorry to hear that. I read where the treasurer and a corporate attorney were\ncanned. I still feel the trading unit is somewhat elite in the business and\nthat whoever takes you over will realize that. What is Dynegy like. Good\ncapital with Texaco/Chevron behind them.\n\n-----Original Message-----\nFrom: Lenhart, Matthew [mailto:Matthew.Lenhart@ENRON.com]\nSent: Friday, November 09, 2001 7:04 AM\nTo: hfl@fp.edu\nSubject:\n\nsorry i didn't call you back last night.  i didn't get home until late.\nlooks bad over here.  everything was business as usual until yesterday.\ni think our books were so cooked that it is beyond repair.  i will call\nyou later.\n\n**********************************************************************", "clipped": true, "phrase": "What is Dynegy like. Good\ncapital with Texaco/Chevron behind them.", "path": "lenhart-m/sent_items/801."}, "s803": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions - 11/09/01-11/10/01", "text": "Enron is mainly a trader of natural gas and electricity -- indeed, the biggest player in both those markets -- and it also owns a network of gas pipelines. Dynegy processes and sells natural gas and generates and sells electricity. Each company owns a local electric utility, too: Dynegy owns Illinois Power in Decatur, Ill., while Enron owns Portland General Electric in Portland, Ore., but last month announced plans to sell it to another Oregon utility. \nFor a decade, as it transformed itself from a gas pipeline operator into the nation's biggest energy trader, Enron enjoyed unalloyed lobbying success in Washington and the enthusiastic backing of Wall Street.", "clipped": true, "phrase": "Dynegy processes and sells natural gas and generates and sells electricity. Each company owns a local electric utility, too: Dynegy owns Illinois Power in Decatur, Ill.", "path": "kitchen-l/_americas/sec_media/40."}, "s835": {"from": "issuealert@scientech.com", "to": "issuealerthtml@listserv.scientech.com", "subject": "Dynegy and Enron Announce Merger", "text": "United States and internationally to support its trading operation. Up until the start of 2001, it appeared that Enron's strategy was the more successful of the two. Enron, with $100 billion in revenues and $1 billion in profits in 2000, ranked fifth on Fortune 500's list of largest U.S. companies. In contrast, Dynegy ranked 54 on the same list and had $29 billion in revenues and $500 million in earnings. However, 2000 turned out to be Dynegy's year and the success continued into 2001, the very year that would bring Enron's downfall. Enron's problems culminated in $638 million in losses in the third quarter, after taking $1.01 billion in charges associated with several of its non-core businesses. Taken with the other factors plaguing the company, Enron became exceptionally vulnerable and prone to a takeover, which has now provided Dynegy with a s", "clipped": true, "phrase": "In contrast, Dynegy ranked 54 on the same list and had $29 billion in revenues and $500 million in earnings.", "path": "kean-s/dynegy_transaction/4."}, "s863": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions", "text": "Earlier, Yannello reiterated a \"strong buy\" on Dynegy, saying while the brokerage does not underestimate the enormous challenge at hand, the takeover should yield the biggest and most credible energy merchant in the world. Dynegy is about one-fifth the size of Enron when measured by revenues. \nEnron's woes came to light in mid-October after the biggest energy trader in North America disclosed that some of its off-balance sheet partners contributed to a $1 billion charge and a $1.2 billion reduction in shareholder equity.", "clipped": true, "phrase": "Dynegy is about one-fifth the size of Enron when measured by revenues.", "path": "kitchen-l/_americas/sec_media/37."}, "s824": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions", "text": "In a measure of the continuing concerns over Enron's financial condition, both Moody's Investors Service and Standard & Poor's once again downgraded Enron's debt on Friday, this time to just one level above non-investment grade, or \"junk\" status. They also kept the company under review for possible additional downgrades, and S&P put Dynegy on the same status. \nA downgrade to junk status could force Enron to come up with hundreds of millions of dollars in cash or stock to buttress some of its complicated financial transactions. \nIn an interview Friday, Dynegy chairman Chuck Watson said his company made \"a good assessment\" of Enron's condition and that in \"the worst-case we can come up with . . . we feel comfortable [that] the value exceeds the liabilities.\"", "clipped": true, "phrase": "They also kept the company under review for possible additional downgrades, and S&amp;P put Dynegy on the same status.", "path": "kitchen-l/_americas/sec_media/38."}, "s841": {"from": "rahil.jafry@enron.com", "to": "louise.kitchen@enron.com, marcus.nettelton@enron.com", "subject": "FW: Highlights from this morning's ENE/DYN analyst conference call", "text": "FYI - \n\n -----Original Message-----\nFrom: \tAlon, Heather  \nSent:\tMonday, November 12, 2001 11:19 AM\nTo:\tBess, Erica; Jafry, Rahil; Heuertz, Kelly; Bosek, Laura\nSubject:\tFW: Highlights from this morning's ENE/DYN analyst conference call\n\nHeather Alon\nEnronOnline \n(713) 853-XXXX\n\n -----Original Message-----\nFrom: \tMilliner, Christine  \nSent:\tMonday, November 12, 2001 11:13 AM\nTo:\tBajwa, Bilal; Alon, Heather; Fortunov, Gallin; Rohmer, Gisselle; 'milliner@gdar.org'\nSubject:\tFW: Highlights from this morning's ENE/DYN analyst conference call\n\nThis was forwarded to me this morning.  Someone's notes from the call.\n\nListened 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.\n\nThe call began with Watson, Bergstrom, and Whalley reading from prepared statements.  Watson spoke for c. 10 minutes, Bergstrom for", "clipped": true, "phrase": "Debt/equity of combined company expected to be &lt;45%.\nBoth companies will remain on RatingsWatch negative.", "path": "kitchen-l/_americas/east_power/12."}, "s799": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions - 11/09/01-11/10/01", "text": "On Wednesday, Enron's stock fell as low as $7 a share, its lowest level in more than a decade. That day, news of the Enron and Dynegy talks leaked out. \nBy late Wednesday, the boards of the two companies had tentatively agreed to a deal. But Dynegy refused to go ahead until it learned whether Enron's credit rating would remain investment grade and was comfortable with the effect of the deal on its own rating. The deal moved forward yesterday after Dynegy was assured Enron's debt was not in danger of being lowered to junk status soon after the deal was announced, according to company officials.", "clipped": true, "phrase": "But Dynegy refused to go ahead until it learned whether Enron's credit rating would remain investment grade and was comfortable with the effect of the deal on its own rating.", "path": "kitchen-l/_americas/sec_media/40."}, "s800": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions - 11/09/01-11/10/01", "text": "Rival to Buy Enron, Top Energy Trader, After Financial Fall\nThe New York Times, 11/10/01\nRegulators Struggle With a Marketplace Created by Enron\nThe New York Times, 11/10/01\nCOMPANIES & FINANCE INTERNATIONAL - Dynegy agrees to $7.8bn rescue bid for Enron.\nFinancial Times, 11/10/01\nCOMPANIES & FINANCE - INTERNATIONAL - Accountancy put back under the spotlight.\nFinancial Times, 11/10/01\nLEX COLUMN - Layed to rest.\nFinancial Times, 11/10/01\nCOMPANIES & FINANCE INTERNATIONAL - Company troubles leave Houston with a problem.\nFinancial Times, 11/10/01\nDynegy to acquire Enron in $8.9 billion stock deal / New giant moves out of shadow\nHouston Chronicle, 11/10/01\nThe Nation Smaller Rival to Acquire Teetering Enron Power: Energy giant that pressed for deregulation in California is on the brink of collapse.\nLos Angeles Times, 11/10/01\nDynegy to acquire Enron in $8.9 billion stock deal / New giant mo", "clipped": true, "phrase": "Dynegy and Enron had provided Standard &amp; Poor's and Moody's Investors Service, the main credit agencies, with statements showing them what a combined company might look like and asked the ratings agencies for an expedited review", "path": "kitchen-l/_americas/sec_media/40."}, "s834": {"from": "issuealert@scientech.com", "to": "issuealerthtml@listserv.scientech.com", "subject": "Dynegy and Enron Announce Merger", "text": "rm debt that Dynegy could encounter with the purchase of Enron. At this juncture, it does not appear that Dynegy will be downgraded, but this is a fast-changing story and conditions could change abruptly. Financing the deal may also be an issue, even with the infusion of capital from ChevronTexaco. Dynegy reportedly has $3 billion worth of debt and has a market capitalization of $11.7 billion. Thus, Enron's own more substantial debt may be too significant for Dynegy to absorb, a concern that may cause Dynegy shareholders to veto the deal. This issue could be helped if Dynegy only elects to purchase some of Enron's assets and if there is some repair work done on Enron's balance sheets.", "clipped": true, "phrase": "Dynegy reportedly has $3 billion worth of debt and has a market capitalization of $11.7 billion.", "path": "kean-s/dynegy_transaction/4."}, "s819": {"from": "hemery@firstunion1.com", "to": "undisclosed-recipients@enron.com", "subject": "Dynegy/Enron-CS First Boston Research", "text": "Number of Shares(m)         339.23\n\n1On 11/09/01 the S&P 500 index closed at 1120.31.\n2Economic profit trend.\n\nDynegy is a wholesale and retail energy provider with operations in natural gas,\nnatural gas liquids, coal, and electricity throughout the U.S. and Europe.\n\nViewpoint Continued\n\nWe maintain our Strong Buy rating for DYN with a target price of $54. We\nanticipate growth rate and valuation benefits for DYN that will result in\nincreasing our estimates and target price as the deal moves closer to closing.\n\nDYN will hold a conference call on Monday, November 12 at 9am EST. The call in\nnumber is 888-603-XXXX.\n\nN.B.: CREDIT SUISSE FIRST BOSTON CORPORATION may have, within the last three\nyears, served as a manager or co-manager of a public offering of securities for", "clipped": true, "phrase": "We maintain our Strong Buy rating for DYN with a target price of $54.", "path": "kean-s/dynegy_transaction/3."}, "s915": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions", "text": "Under terms of the acquisition, Dynegy will pay Enron shareholders 0.2685 of a Dynegy share for each Enron share outstanding. The value of the stock swap at the close of the market Monday was $10.12 billion. \nDynegy is making an immediate cash investment in Enron with the assistance of ChevronTexaco Corp. (CVX). Later, when the deal closes, ChevronTexaco will make an additional $1 billion investment in the combined company. \n-By Christina Cheddar, Dow Jones Newswires; 201-938-XXXX; christina.cheddar@dowjones.com\n\nCopyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved. \t\nEnron Corp. to Hold Conference Call and Webcast to Provide Investor Update\n\n11/13/2001\nPR Newswire\n(Copyright (c) 2001, PR Newswire)", "clipped": true, "phrase": "Dynegy is making an immediate cash investment in Enron with the assistance of ChevronTexaco Corp. (CVX). Later, when the deal closes, ChevronTexaco will make an additional $1 billion investment in the combined company.", "path": "kitchen-l/_americas/sec_media/35."}, "s1026": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions- 11/19/01", "text": "Voice: 415-336-XXXX \nFax: 415-677-XXXX \nEmail: mail@kaplanfox.com \n\nCopyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved. \t\nDYNEGY TO BUY ENRON: CHEVRONTEXACO PROVIDES $2.5 BILLION CASH FLOW\n\n11/19/2001\nOctane Week\n(c) 2001 Phillips Business Information, Inc.\nChevronTexaco Corp. is backing Dynegy Inc.'s proposed buyout of ailing Enron Corp. by putting $2.5 billion of new equity in Dynegy to support the deal. ChevronTexaco, which currently owns approximately 26% of Dynegy's outstanding common stock, will invest $1.5 billion immediately. The $1 billion balance would be made at the closing of the Dynegy-Enron merger.", "clipped": true, "phrase": "ChevronTexaco Corp. is backing Dynegy Inc.'s proposed buyout of ailing Enron Corp. by putting $2.5 billion of new equity in Dynegy to support the deal.", "path": "kitchen-l/_americas/sec_media/26."}, "s1027": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions- 11/19/01", "text": "DYNEGY TO BUY ENRON: CHEVRONTEXACO PROVIDES $2.5 BILLION CASH FLOW\n\n11/19/2001\nOctane Week\n(c) 2001 Phillips Business Information, Inc.\nChevronTexaco Corp. is backing Dynegy Inc.'s proposed buyout of ailing Enron Corp. by putting $2.5 billion of new equity in Dynegy to support the deal. ChevronTexaco, which currently owns approximately 26% of Dynegy's outstanding common stock, will invest $1.5 billion immediately. The $1 billion balance would be made at the closing of the Dynegy-Enron merger.", "clipped": true, "phrase": "ChevronTexaco, which currently owns approximately 26% of Dynegy's outstanding common stock, will invest $1.5 billion immediately. The $1 billion balance would be made at the closing of the Dynegy-Enron merger.", "path": "kitchen-l/_americas/sec_media/26."}, "s1052": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions- 11/20/01", "text": "s to obtain $500 million to $1 billion in additional financing through an equity infusion from major banks and institutions. In addition, executives have said they are hoping to close deals to sell $800 million in assets by the end of the year, and perhaps a few billion dollars of assets next year. Enron is also set to receive a $1 billion infusion from ChevronTexaco, which owns a 27 percent stake in Dynegy, if the deal closes next year. \nStill, even after factoring in cash flow from Enron's core energy-trading operations, Enron could be left well short of what it needs to satisfy the huge obligations due by the end of next year -- meaning that Enron will probably have to work to persuade bankers to restructure debts or extend maturities.", "clipped": true, "phrase": "Enron is also set to receive a $1 billion infusion from ChevronTexaco, which owns a 27 percent stake in Dynegy, if the deal closes next year.", "path": "kean-s/deleted_items/410."}, "s1068": {"from": "peggy.mahoney@enron.com", "to": "karen.denne@enron.com, j..kean@enron.com", "subject": "HELP!!!", "text": "Enron shares were recently trading at $7.86, down $1.20, or  13.2%,\nwhile Dynegy shares changed hands at $43.29, down 31 cents, or 0.8%.\n\n  A ChevronTexaco Corp. (CVX) official wasn't immediately available to\ncomment on the matter.\n\n  ChevronTexaco, San Francisco, owns 26% of Dynegy and is providing $2.5\nbillion in cash to Dynegy as part of the buyout.  Last week, an inital\npayment of $1.5 billion was transferred to Dynegy and then to Enron to\nhelp meet Enron's immediate cash  needs.\n\n  Dynegy's merger agreement with Enron contains several provisions\nbeyond the standard \"material adverse change\" provision that would allow\nthe deal to be terminated. Still, some question whether Dynegy was able\nto fully assess Enron's liabilities prior to striking the deal.", "clipped": true, "phrase": "ChevronTexaco, San Francisco, owns 26% of Dynegy and is providing $2.5\nbillion in cash to Dynegy as part of the buyout.", "path": "kean-s/deleted_items/400."}, "s1090": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions- 11/20/01", "text": "preferred stock. Because Enron's stock has plunged, it may have to\nwrite down its assets by $700 million, the filing said.\n\n     Dynegy agreed Nov. 9 to buy Enron in a transaction now valued\nat $25 billion in stock and assumed debt. Both companies are based\nin Houston.\n\n     ChevronTexaco Corp., the second-largest U.S. oil company,\nowns 26 percent of Dynegy and is providing $2.5 billion in cash as\npart of the Enron buyout.\n\n     Shares of ChevronTexaco, based in San Francisco, rose $1.63\nto $84.54.\n\nOptions Report: Traders Wary As Mkt Shows 'Lack Of Fear'\nBy Kopin Tan and Marcelo Prince\nOf DOW JONES NEWSWIRES\n\n11/20/2001\nDow Jones Capital Markets Report\n(Copyright (c) 2001, Dow Jones & Company, Inc.)", "clipped": true, "phrase": "ChevronTexaco Corp., the second-largest U.S. oil company,\nowns 26 percent of Dynegy and is providing $2.5 billion in cash as\npart of the Enron buyout.", "path": "kitchen-l/_americas/sec_media/24."}, "s1121": {"from": "issuealert@scientech.com", "to": "issuealerthtml@listserv.scientech.com", "subject": "Enron Continues to Implode; Will the Dynegy Deal Proceed?", "text": "ed why Dynegy is not doing more at this time to help Enron out of its financial mess. Of course, under the acquisition agreement Dynegy already committed to providing an immediate $1.5-billion asset-backed equity infusion into Enron to help the company with its current financial woes, which will be followed by an additional infusion of $2.5 billion into the combined company by ChevronTexaco, which owns 27 percent of Dynegy. However, some traders apparently have wondered why Dynegy has not done anything about Enron's diminishing ability to secure power on the open market. Traders claim that Dynegy could step in and buy power from sellers on the behalf of Enron, in a strategy known as \"sleeving.\" The fact that Dynegy has not chosen to take this step has been an indication to some observers that it is only willing to go so far in its pursuit of Enron.", "clipped": true, "phrase": "followed by an additional infusion of $2.5 billion into the combined company by ChevronTexaco, which owns 27 percent of Dynegy", "path": "kean-s/deleted_items/422."}, "s870": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "Under terms of the proposed acquisition, Dynegy would give 0.2685 of its shares for each Enron share. Based on Dynegy's stock price yesterday , this formula values Enron stock at $11.90 each. Enron has about 850 million shares outstanding. \nSome people raised cautionary notes yesterday. Moody's Investors Service placed Dynegy on review for a possible credit-ratings downgrade. Standard & Poor's made a similar move on Friday. Moody's said that while it saw positive elements to the proposed combination, it also believed \"the financial and business risks associated with the transaction could negatively impact Dynegy's credit fundamentals.\"", "clipped": true, "phrase": "Moody's Investors Service placed Dynegy on review for a possible credit-ratings downgrade.", "path": "kitchen-l/_americas/sec_media/36."}, "s871": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "Some people raised cautionary notes yesterday. Moody's Investors Service placed Dynegy on review for a possible credit-ratings downgrade. Standard & Poor's made a similar move on Friday. Moody's said that while it saw positive elements to the proposed combination, it also believed \"the financial and business risks associated with the transaction could negatively impact Dynegy's credit fundamentals.\" \nPrudential Securities analyst Carol Coale, who counts herself a fan of Dynegy, also worries that Enron's enormous problems could be a drag on the combined entity. \"I don't want the Dynegy folks to get into something that's not good for the company,\" she said.", "clipped": true, "phrase": "the financial and business risks associated with the transaction could negatively impact Dynegy's credit fundamentals.", "path": "kitchen-l/_americas/sec_media/36."}, "s910": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions", "text": "ls, including Hart-Scott-Rodino, the SEC, and the Federal Regulatory Energy Commission; assuming regulators approve the merger, we would expect the transaction to close in six- to nine-months. The merger agreement includes termination provisions that add an element of uncertainty to its completion. Fitch anticipates that the surviving company's rating would move to the mid-'BBB' range assuming the successful execution of its interim plans to delever its capital structure and the completion of the merger. If the merger were terminated F\n[...]", "clipped": true, "phrase": "Fitch anticipates that the surviving company's rating would move to the mid-'BBB' range assuming the successful execution of its interim plans", "path": "kitchen-l/_americas/sec_media/35."}, "s1028": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions- 11/19/01", "text": "\"Our relationship with Dynegy has proven to be highly beneficial for both companies, and we are optimistic we will continue to see comparable or better performance in the future,\" said David O'Reilly, chairman and CEO of ChevronTexaco. Chevron first took a stake in Dynegy in 1996. Dynegy is one of the industry's largest marketers and traders of natural gas, power and coal, as well as a leading producer of electricity. Dynegy Midstream Services is one of the largest marketers and producers of natural gas liquids.", "clipped": true, "phrase": "Chevron first took a stake in Dynegy in 1996.", "path": "kitchen-l/_americas/sec_media/26."}, "s1022": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions- 11/19/01", "text": "lawsuits result in judgments totaling more than $2 billion, the\nDynegy deal could collapse.\n\n    The filing was released after the stock market closed.  Shares\nof Houston-based Enron rose 6 cents to $9.06. Dynegy shares rose\n$1.13 to $43.60. Shares of ChevronTexaco Corp., which owns 26\npercent of Dynegy, fell 54 cents to $82.91.\n\nUSA: INTERVIEW-Pepco sees electricity deregulation slowing.\nBy Christopher Doering\n\n11/19/2001\nReuters English News Service\n(C) Reuters Limited 2001.", "clipped": true, "phrase": "Shares of ChevronTexaco Corp., which owns 26\npercent of Dynegy", "path": "kitchen-l/_americas/sec_media/26."}, "s1131": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions- 11/21/01", "text": "Watson also noted that ChevronTexaco recently reiterated that it has \"full confidence in Dynegy's disciplined management approach to complete the merger and to build a new company into an industry leader.\" ChevronTexaco owns 26 percent of Dynegy's outstanding common stock. \nDynegy Inc. is one of the world's top energy merchants. Through its global energy delivery network and marketing, trading and risk management capabilities, Dynegy provides innovative solutions to customers in North America, the United Kingdom and Continental Europe.", "clipped": true, "phrase": "ChevronTexaco owns 26 percent of Dynegy's outstanding common stock.", "path": "kean-s/deleted_items/447."}, "s1451": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "buying power-plant capacity and storage, Dynegy had continued to expand its marketing reach. Yesterday, the company said it had finalized a deal with ChevronTexaco to market all of the energy company's North American natural gas. Dynegy already had marketed natural gas for the former Chevron Corp. ChevronTexaco is a 26% owner of Dynegy. \nRecently, Dynegy also received regulatory approval in Europe to buy natural gas storage assets in the United Kingdom from BG Group PLC, which should give Dynegy \"a strong beach head from which to continue to grow their European presence in marketing and trading,\" Mr. Dietert said. \n--- Tug of War\n\nDynegy reasserts its claim on Enron's Northern Natural Gas pipeline.\n\nNorthern Natural Gas\n\n-- Current Owner: Enron\n-- Proposed Owner: Dynegy", "clipped": true, "phrase": "ChevronTexaco is a 26% owner of Dynegy.", "path": "kitchen-l/_americas/sec_media/1."}, "s1029": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions- 11/19/01", "text": "\"Our relationship with Dynegy has proven to be highly beneficial for both companies, and we are optimistic we will continue to see comparable or better performance in the future,\" said David O'Reilly, chairman and CEO of ChevronTexaco. Chevron first took a stake in Dynegy in 1996. Dynegy is one of the industry's largest marketers and traders of natural gas, power and coal, as well as a leading producer of electricity. Dynegy Midstream Services is one of the largest marketers and producers of natural gas liquids.", "clipped": true, "phrase": "Dynegy is one of the industry's largest marketers and traders of natural gas, power and coal, as well as a leading producer of electricity.", "path": "kitchen-l/_americas/sec_media/26."}, "s1030": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions- 11/19/01", "text": "e to see comparable or better performance in the future,\" said David O'Reilly, chairman and CEO of ChevronTexaco. Chevron first took a stake in Dynegy in 1996. Dynegy is one of the industry's largest marketers and traders of natural gas, power and coal, as well as a leading producer of electricity. Dynegy Midstream Services is one of the largest marketers and producers of natural gas liquids.\n\"We are also hopeful that the combination of Dynegy and Enron will restore market and credit confidence in this important energy sector,\" O'Reilly continued. In October, the Securities and Exchange Commission began investigating Enron's relationship with two questionable partnerships once run by its former Chief Financial Officer Andrew Fastow. In November, Enron revealed that certain off-balance sheet entities should have been included in its f", "clipped": true, "phrase": "Dynegy Midstream Services is one of the largest marketers and producers of natural gas liquids.", "path": "kitchen-l/_americas/sec_media/26."}, "s991": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions - 11/17/01 - 11/18/01", "text": "Bern Fleming, portfolio manager of the AXP Utilities Income fund in Minneapolis, who has stakes in Dynegy, Duke Energy and Dominion Resources, said all three had good prospects for growth, thanks to a mix of assets, ''management I respect and solid business plans.''", "clipped": true, "phrase": "Bern Fleming, portfolio manager of the AXP Utilities Income fund in Minneapolis, who has stakes in Dynegy, Duke Energy and Dominion Resources, said all three had good prospects for growth", "path": "kean-s/deleted_items/369."}, "s1130": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions- 11/21/01", "text": "\"We are continuing our confirmatory due diligence and working to accelerate the regulatory approvals required to complete the merger in accordance with the previously announced agreement,\" he said.\nWatson also noted that ChevronTexaco recently reiterated that it has \"full confidence in Dynegy's disciplined management approach to complete the merger and to build a new company into an industry leader.\" ChevronTexaco owns 26 percent of Dynegy's outstanding common stock. \nDynegy Inc. is one of the world's top energy merchants. Through its global energy delivery network and marketing, trading and risk management capabilities, Dynegy provides innovative solutions to customers in North America, the United Kingdom and Continental Europe.", "clipped": true, "phrase": "Watson also noted that ChevronTexaco recently reiterated that it has \"full confidence in Dynegy's disciplined management approach to complete the merger and to build a new company into an industry leader.\"", "path": "kean-s/deleted_items/447."}, "s1141": {"from": "no.address@enron.com", "to": "mitch.robinson@enron.com, m..presto@enron.com, louise.kitchen@enron.com,   \tdavid.duran@enron.com", "subject": "FW: DYNEGY ISSUES STATEMENT ON ENRON MERGER STATUS", "text": "Watson also noted that ChevronTexaco recently reiterated that it has \"full confidence in Dynegy's disciplined management approach to complete the merger and to build a new company into an industry leader.\"  ChevronTexaco owns 26 percent of Dynegy's outstanding common stock.\n\nDynegy Inc. is one of the world's top energy merchants.  Through its global energy delivery network and marketing, trading and risk management capabilities, Dynegy provides innovative solutions to customers in North America, the United Kingdom and Continental Europe.", "clipped": true, "phrase": "ChevronTexaco owns 26 percent of Dynegy's outstanding common stock.", "path": "kitchen-l/_americas/sec/7."}, "s1147": {"from": "karen.denne@enron.com", "to": "kenneth.lay@enron.com, mark.frevert@enron.com, greg.whalley@enron.com,   \tj..kean@enron.com, pr <.palmer@enron.com>, mark.koenig@enron.com,   \tjames.derrick@enron.com, rex.rogers@enron.com,   \traymond.bowen@enron.com, jeffrey.mcmahon@enron.", "subject": "Articles", "text": "\"We're having a hard time believing that this new credit infusion (from the banks), even with the $1.5 billion from Dynegy, will provide enough liquidity for Enron,\" one risk arbitrageur at a New York hedge fund said. \nAs part of the merger agreement between Dynegy and Enron, Chevron Texaco, which owns 26% of Dynegy, already injected $1.5 billion into Enron. Another $1 billion is expected upon closing of the deal. \n\nCarol S. Remond, Dow Jones Newswires; 201-938-XXXX; carol.remond@dowjones.com\n\n..................................................................................................................................... \n\nUSA: Houston economy seen weathering major layoffs.\nBy Ellen Chang\n\n11/23/2001\nReuters English News Service \n(C) Reuters Limited 2001.", "clipped": true, "phrase": "As part of the merger agreement between Dynegy and Enron, Chevron Texaco, which owns 26% of Dynegy, already injected $1.5 billion into Enron. Another $1 billion is expected upon closing of the deal.", "path": "kean-s/deleted_items/460."}, "s1328": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "Dynegy said Wednesday that it will go through with its acquisition of Enron natural gas pipeline unit Northern Natural, Omaha, Neb., and said it has exercised its right to acquire the unit's common shares. \nChevronTexaco, which owns 26% of Dynegy, contributed $1.5 billion to the proposed Enron merger, and Dynegy used that money to acquire the pipeline unit. \nNorthern Natural, which owns and operates 16,500 miles of interstate natural gas pipeline spanning from the Permian Basin of Texas to the Great Lakes, has historically been a strong earnings contributor. \nDynegy said the unit will be a positive addition to Dynegy's own energy delivery network.\n\nCopyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved. \t\n\nEnron's Fall To Spark Volatility On Pwr, Natural Gas Mkts\n\n11/28/2001", "clipped": true, "phrase": "ChevronTexaco, which owns 26% of Dynegy, contributed $1.5 billion to the proposed Enron merger, and Dynegy used that money to acquire the pipeline unit.", "path": "kitchen-l/_americas/sec_media/13."}, "s1341": {"from": "peggy.mccurley@enron.com", "to": "louise.kitchen@enron.com", "subject": "An article from CBS.MarketWatch.com", "text": "s sustainability and future growth.\" Watson said.  As part of the deal, Dynegy had the option to keep Northern Natural Gas, Enron's highly valued natural-gas pipeline, even if the agreement were terminated. The company said during the call that it would exercise that option.  ChevronTexaco (CVX ) , which owns a 27 percent stake in Dynegy, originally gave $1.5 billion to the company in the transaction. Dynegy used the money to purchase 100 percent of the preferred shares of Northern Natural Gas.  Enron has 180 days from the date the merger agreement was signed, Nov. 9, to repurchase the pipeline system, Watson said. Enron said in a statement that it was reviewing Dynegy's claim of rights to Northern.  Enron representatives did not participate in the call, and Dynegy executives said they had been advised against the customary practice of takin", "clipped": true, "phrase": "which owns a 27 percent stake in Dynegy, originally gave $1.5 billion to the company in the transaction", "path": "kitchen-l/_americas/esvl/426."}, "s1385": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions", "text": "Watson said he would rather take over an Enron pipeline than get\nback the $1.5 billion investment that entitles Dynegy to the line.\n\n     Watson said Dynegy expects to take over operation of the\n16,500-mile Northern Natural pipeline system by Dec. 19.\nChevronTexaco Corp., which owns 26 percent of Dynegy, gave Enron\n$1.5 billion to help the cash-strapped company stay in business.\n\n    The investment, part of Dynegy's plan to buy Enron, was backed\nby the Northern Natural system. Dynegy backed out of the merger\nyesterday, and said it would exercise its right to take over the\nline.\n\n     Watson said he hopes that Northern Natural employees will\ncontinue to operate the pipeline after Dynegy takes ownership.", "clipped": true, "phrase": "ChevronTexaco Corp., which owns 26 percent of Dynegy, gave Enron", "path": "kitchen-l/_americas/sec_media/6."}, "s1236": {"from": "carlos.sole@enron.com", "to": "kay.mann@enron.com", "subject": "ENE", "text": "Egan-Jones Ratings Co. lowered its rating on Enron's credit today to ``BB-'' from ``BB.'' ``Dynegy needs to show its support, or Enron will slide,'' the firm said in a report. \n``Time is not Enron's friend,'' said Stewart Morel, co-head of investment grade debt research at UBS Warburg LLC. ``There is increased concern in the market that there may be more problems that are yet to be disclosed.''", "clipped": true, "phrase": "``Dynegy needs to show its support, or Enron will slide,'' the firm said in a report.", "path": "mann-k/deleted_items/139."}, "s1242": {"from": "kay.mann@enron.com", "to": "carlos.sole@enron.com", "subject": "RE: ENE", "text": "Egan-Jones Ratings Co. lowered its rating on Enron's credit today to ``BB-'' from ``BB.'' ``Dynegy needs to show its support, or Enron will slide,'' the firm said in a report. \n``Time is not Enron's friend,'' said Stewart Morel, co-head of investment grade debt research at UBS Warburg LLC. ``There is increased concern in the market that there may be more problems that are yet to be disclosed.''", "clipped": true, "phrase": "``Dynegy needs to show its support, or Enron will slide,'' the firm said in a report.", "path": "mann-k/deleted_items/143."}, "s1256": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions- 11/26/01", "text": "AFX News, 11/26/01\nTALES OF THE TAPE: Energy Traders' Perfect Storm Stalls\nDow Jones News Service, 11/26/01\nINDIA: UPDATE 1-India's AV Birla group denies bid for Enron unit.\nReuters English News Service, 11/26/01\nEnron's Stock, Bonds Drop on Concern for Dynegy Bid (Update8)\nBloomberg, 11/26/01\n\nDynegy Bonds Slip as Enron Purchase May Harm Credit Rating\nBloomberg, 11/26/01\n\nENRON SHARES SLIDES TO ALL-TIME LOW\nCBS.MarketWatch.com, 11/26/01\n\nIN THE MONEY: Another Sign Investors Don't Trust Enron\nBy Michael Rapoport\n\n11/26/2001\nDow Jones News Service\n(Copyright (c) 2001, Dow Jones & Company, Inc.)\nA Dow Jones Newswires Column", "clipped": true, "phrase": "Dynegy Bonds Slip as Enron Purchase May Harm Credit Rating", "path": "kean-s/deleted_items/504."}, "s1188": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions - 11/26/01", "text": "Until now, Dynegy wasn't a big deal for Chevron. Chevron purchased the stake for $700 million when Dynegy was still called NGC Corp., and it filled three of the 14 board seats--positions it will keep. Since then, Chevron has sold nearly all its domestic natural-gas production to Dynegy. The stake has been a good investment: it is now worth $3 billion, ChevronTexaco says.", "clipped": true, "phrase": "Chevron purchased the stake for $700 million when Dynegy was still called NGC Corp., and it filled three of the 14 board seats--positions it will keep.", "path": "kean-s/deleted_items/478."}, "s1351": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "\"S&P and Moody's have stated that they're not going to be the cause of problems for a company, and in my opinion waited until Dynegy decided not to proceed with the merger,\" said Sean Egan, managing director at Egan-Jones Ratings Co. in Philadelphia. Egan-Jones on Wednesday cut its own debt rating for Enron to \"C,\" one notch above default. \nANGER GROWS \nPrices on Enron's distressed bonds had been in a tailspin for several sessions, and after Wednesday's cuts they fell by more than half. Traders bid them on Wednesday near 25 cents on the dollar, with often triple-digit yields.", "clipped": true, "phrase": "in my opinion waited until Dynegy decided not to proceed with the merger,\" said Sean Egan, managing director at Egan-Jones Ratings Co. in Philadelphia.", "path": "kitchen-l/_americas/sec_media/12."}, "s1361": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "Throughout the Enron saga, the rating agencies found themselves the target of repeated and intense lobbying by Enron, Dynegy and their bankers at J.P. Morgan Chase & Co. and Citigroup Inc. All tried -- and ultimately failed -- to come up with assurances that the merger would bolster Enron and thus protect bondholders and lenders from suffering losses.", "clipped": true, "phrase": "Throughout the Enron saga, the rating agencies found themselves the target of repeated and intense lobbying by Enron, Dynegy and their bankers at J.P. Morgan Chase &amp; Co. and Citigroup Inc.", "path": "kitchen-l/_americas/sec_media/10."}, "s1391": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions- 11/30/01", "text": "Reuters English News Service, 11/30/01\n\nUK: UPDATE 1-Innogy may buy Enron UK assets at \"right price\".\nReuters English News Service, 11/30/01\n\nGERMANY: Enron Europe delays job cut meeting to 1500 GMT.\nReuters English News Service, 11/30/01\n\nFitch: Dynegy Remains On Rating Watch Negative\nBusiness Wire, 11/30/01\n\nEnron Australia Is Barred From Trading Power Futures (Update1)\n2001-11-30 01:01 (New York)\n\nEnron Australia Is Barred From Trading Power Futures (Update1)\n\n     (Adds reason for decision in first paragraph, background\nstarting in third paragraph)\n\n     Sydney, Nov. 30 (Bloomberg) -- Enron Corp.'s Australian\nfinance unit was barred from trading in the nation's wholesale", "clipped": true, "phrase": "Fitch: Dynegy Remains On Rating Watch Negative", "path": "kitchen-l/_americas/sec_media/5."}, "s1395": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions- 11/30/01", "text": "Dynegy Is Under Pressure After Failed Enron Buyout, NYT Says\n2001-11-30 08:38 (New York)\n\n     Houston, Nov. 30 (Bloomberg) -- Dynegy Inc. is having trouble\nmaking a clean break from its buyout offer to energy trader Enron\nCorp., the New York Times reported.\n\n     Dynegy, whose bond rating is under pressure, may face a\nlawsuit from Enron and questions from investors about why it\ndidn't scrutinize Enron's books more closely, the Times said.\nDynegy's decision to back out of the $9 billion acquisition leaves\nEnron on the verge of bankruptcy.\n\n     The Houston-based rival of Enron must now convince investors\nand rating agencies that it has less in common with Enron than it\nsaid earlier this month, the paper said. With Enron out of the", "clipped": true, "phrase": "Dynegy, whose bond rating is under pressure, may face a", "path": "kitchen-l/_americas/sec_media/5."}, "s1449": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "Dynegy has been growing at a breathtaking rate. Driven by gains from buying an Illinois utility and power-generator in early 2000, Dynegy's net income more than quadrupled to $500.51 million in fiscal 2000 from fiscal 1999. Dynegy was expecting to report earnings up 40% this fiscal year, Mr. Bergstrom said. \nIn addition to buying power-plant capacity and storage, Dynegy had continued to expand its marketing reach. Yesterday, the company said it had finalized a deal with ChevronTexaco to market all of the energy company's North American natural gas. Dynegy already had marketed natural gas for the former Chevron Corp. ChevronTexaco is a 26% owner of Dynegy.", "clipped": true, "phrase": "Dynegy's net income more than quadrupled to $500.51 million in fiscal 2000 from fiscal 1999. Dynegy was expecting to report earnings up 40% this fiscal year, Mr. Bergstrom said.", "path": "kitchen-l/_americas/sec_media/1."}, "s1443": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "The suits escalate a war of words between the two Houston companies over who was responsible for the merger breakup that contributed to Enron's tumble into bankruptcy-court proceedings and they threaten to be a serious distraction for Dynegy, another energy-trading highflier. \nCredit agencies continue to penalize Dynegy for gambling on an effort to buy Enron, and Dynegy's stock is off more than those of other companies with significant energy-trading operations. As of 4 p.m. in New York Stock Exchange composite trading, Dynegy shares fell $3.18 to $27.17 each, below their 52-week low.", "clipped": true, "phrase": "Credit agencies continue to penalize Dynegy for gambling on an effort to buy Enron, and Dynegy's stock is off more than those of other companies with significant energy-trading operations.", "path": "kitchen-l/_americas/sec_media/1."}, "s1444": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "\"There is no question that something as high-profile as this will attract senior management's attention for some time,\" said Robert Grossman, chief credit officer with debt-rating agency Fitch Inc., which has had Dynegy on its credit watch since Dynegy agreed to the merger. \"The very fact that the lawsuit is out there poses risk in some investors' minds and it could limit the upper end of the stock for awhile,\" says Ronald Barone, an analyst with UBS Warburg.", "clipped": true, "phrase": "which has had Dynegy on its credit watch since Dynegy agreed to the merger", "path": "kitchen-l/_americas/sec_media/1."}, "s5": {"from": "tana.jones@enron.com", "to": "john.suttle@enron.com", "subject": "Dynegy Canada, Inc.", "text": "I am confirming my conversation with you yesterday and my conversation a \nminute ago with Lori Volpi at Dynegy Canada.  As we discussed, Dynegy Canada \nis trading with both ECC and ENA, with the bulk of its trading being done \nwith ECC.  Instead of getting two ISDA Master Agreements in place, we will \nenter into an ISDA Master Agreement between ECC and Dynegy Canada, and then \njust back-to-back any ENA trades down to Houston by virtue of the Services \nAgreement for Financial Agreements we have in place between ECC and ENA.   \nPer my conversation with Lori, this will also work with the EOL trades since \nthe Electronic Trading Agreement provides that any financial trades done for \neither ECC or ENA will be transacted under the respective master agreement in \nplace with either ECC or ENA.\n\nWorks for me...!", "clipped": false, "phrase": "my conversation a \nminute ago with Lori Volpi at Dynegy Canada", "path": "jones-t/all_documents/924."}, "s510": {"from": "daniel.lisk@enron.com", "to": "matthew.lenhart@enron.com", "subject": "RE:", "text": "I have no fears...the bet stands.\n\nYou should get to know Vivian Krauchek, with Dynegy Canada Gas Marketing Ltd..  I'd like to!\n\n -----Original Message-----\nFrom: \tLenhart, Matthew  \nSent:\tThursday, June 07, 2001 2:16 PM\nTo:\tLisk, Daniel\nSubject:\t\n\ni will let you out of the bet for $20", "clipped": false, "phrase": "You should get to know Vivian Krauchek, with Dynegy Canada Gas Marketing Ltd..  I'd like to!", "path": "lenhart-m/inbox/6."}, "s26": {"from": "christi.nicolay@enron.com", "to": "jeff.brown@enron.com, charles.yeung@enron.com, richard.ingersoll@enron.com,   \tjoe.hartsoe@enron.com, sarah.novosel@enron.com", "subject": "APX presentation", "text": "interested in what transpired, I've attached notes from the meeting.  Thanks\nfor\nall your interest.  We feel Thursday was a very positive meeting, but there\nis\nplenty of work ahead.\n\n(See attached file: Notes from the May 11th LMP Meeting.doc)\n\n  Mary J. Doyle\n   Director of Regulatory Policy\n   Dynegy, Inc.\n   Phone: 202.216.XXXX\n   Fax:       202.842.XXXX\n\n - Alternatives to LMP Notes EGC.doc\n - apx.zip", "clipped": true, "phrase": "Mary J. Doyle\n   Director of Regulatory Policy\n   Dynegy, Inc.\n   Phone: 202.216.XXXX", "path": "kean-s/all_documents/593."}, "s33": {"from": "susan.harrison@enron.com", "to": "sally.beck@enron.com", "subject": "T.J. McReynolds", "text": "Sally,\n\nThis resume was sent to me by one of the recruiters we use.  I thought you \nmight be interested in him because of his current position at Dynegy. \n\nSusan\n---------------------- Forwarded by Susan Harrison/HOU/ECT on 06/14/2000 \n03:26 PM ---------------------------\n\n\"Steve Tinsley\" <tins2@tinsleygroup.com> on 06/05/2000 04:24:40 PM\nTo: <susan.harrison@enron.com>\ncc:  \nSubject: T.J. McReynolds\n\nSusan,\n?\nI have known T.J. for several years and his is  interested in working for \nEnron.? Do you know if there is a position  available at his level? Should I \nsnd his resume to anyone else at Enron??  Please advise.\n?\nThanks,\nSteve\n - T.J.McReynolds@.doc", "clipped": false, "phrase": "might be interested in him because of his current position at Dynegy.", "path": "beck-s/all_documents/2015."}, "s69": {"from": "gwendolyn.petteway@enron.com", "to": "michelle.hargrave@enron.com", "subject": "Emails/Transition relative to Cynthia Sandherr", "text": "situations that ocurred during my 3+ years as HR Rep for Govt Affairs.  As \nthe data is very sensitive and confidential, please let Constance if you have \nnot received it.\n\nI have now cleared all my emails and have no more hard copies to pass along.  \nFeel free to call me, even when I get to Dynegy should you have any \nquestions!  Constance has all my contact information.  After tonight my \naccess will be disconnected to the system.  My personal email address is:  \npettewayg@excite.com.\n\nTake care.  \n\n---------------------- Forwarded by Gwendolyn Petteway/HR/Corp/Enron on \n10/01/2000 11:23 PM ---------------------------\n\nGwendolyn Petteway\n05/23/2000 03:37 PM\nTo: Cynthia Sandherr/Corp/Enron@ENRON\ncc:  \n\nSubject: Follow-up", "clipped": true, "phrase": "Feel free to call me, even when I get to Dynegy should you have any \nquestions!", "path": "kean-s/all_documents/1467."}, "s71": {"from": "mary.hain@enron.com", "to": "richard.sanders@enron.com, christian.yoder@enron.com,   \trichard.shapiro@enron.com, james.steffes@enron.com,   \tsteve.c.hall@enron.com, tim.belden@enron.com,   \trobert.badeer@enron.com, jeff.richter@enron.com,   \ttim.heizenrader@enron.com, ", "subject": "THE WINNERS IN CALIFORNIA", "text": "> diversification. Each owns gas-fired and some oil-fired merchant power\n> plants in\n> the eastern U.S., where high fuel prices and low electricity prices have\n> damped\n> profits.\n>   \"We've had a good summer, but we have a pretty balanced portfolio across\n> the\n> country,\" Stephen Bergstrom, president and chief executive of Dynegy, said\n> in an\n> interview. \"As good as the summer has been in the West, it's been as bad\n> in\n> the\n> eastern half of the country.\"\n>\n>   No. 3: Los Angeles Dept. of Water & Power (and its bondholders). LADWP\n> has\n> about 7,000 MW of generation, or about 2,000 MW more than it needs for its\n> customers. As LADWP general manager S. David Freeman said a few weeks ago,\n> \"A\n> blind pig could make money with that setup.\"\n>", "clipped": true, "phrase": "Stephen Bergstrom, president and chief executive of Dynegy, said", "path": "sanders-r/all_documents/648."}, "s74": {"from": "miyung.buster@enron.com", "to": "filuntz@aol.com, liz@luntz.com, nicholas.o'day@enron.com,   \tmike.dahlke@enron.com, jennifer.rudolph@enron.com", "subject": "Long-Term Power Contracts Present Dilemma for Utilities Energy", "text": "than two years hamstrings the utilities' ability to hedge their risks in the \nvolatile state energy market. \n\"The utilities can judge the risks. What we need is the PUC to allow the \nutilities to enter into these deals without the second chance of looking at \nthem,\" said Greg Blue, senior director of Dynegy, a Houston-based power \nmerchant that owns several power plants in Southern California. \nRegulators and consumer advocates, meanwhile, are concerned that allowing the \nutilities to sign contracts for supply represents a merchant role they \nrelinquished under deregulation. \nMike Florio of the Utility Reform Network, a San Francisco-based consumer \nwatchdog, said the utilities could someday lose some of their retail customer \nbase, \"leaving the remaining customers to pay contracts costing more than", "clipped": true, "phrase": "said Greg Blue, senior director of Dynegy, a Houston-based power \nmerchant that owns several power plants in Southern California.", "path": "kean-s/all_documents/1490."}, "s86": {"from": "issuealert@scientech.com", "to": "", "subject": "Dynegy Launches B2B Portal and Trading Site", "text": "to sell power produced by others. Along with a strident strategy of building\nmerchant plants in areas where demand is growing significantly, Dynegy\npresumably plans to now use its trading portal to market the power it has\neither generated itself or bought on the wholesale market.\n\nI spoke late yesterday afternoon with Blake Young, Dynegy's chief information\nofficer and president of Dynegy Global Technologies, about the new site\nand how it will compete against such stiff competition. First, Young said\nthat Dynegydirect is a \"component of a broader strategy\" to support Dynegy's\ncomprehensive electronic business efforts. What this means is that \nDynegydirect\nultimately will be much larger than just a trading portal, including such\nother electronic businesses as e-procurement and energy supply chain \nmanagement.", "clipped": true, "phrase": "I spoke late yesterday afternoon with Blake Young, Dynegy's chief information\nofficer and president of Dynegy Global Technologies, about the new site", "path": "kean-s/all_documents/1627."}, "s149": {"from": "mark.palmer@enron.com", "to": "richard.shapiro@enron.com, steven.kean@enron.com, jeff.dasovich@enron.com,   \trichard.sanders@enron.com, paul.kaufman@enron.com", "subject": "RE: FW: ANNOUNCEMENT: Notice of Press Conference today", "text": "reported an 83 percent increase in its third quarter 2000 income, as\ncompared to its third quarter 1999 figures.   Profits from Defendant\nDynegy's wholesale energy generating and trading division quadrupled to\n$141.9 million, which represented 80 percent of Dynegy's overall profits.\n\"This is the most successful quarter in Dynegy's history\", reported chairman\nand chief executive officer, Charles 'Chuck' Watson.  Other defendants also\nobtained large windfall profits during this period.\n49. Prior to deregulation, the historical cost to produce a megawatt\nhour of electricity in San Diego County was approximately $23-45 per MWh.\nDuring the Summer of 2000, defendants' conduct caused the Real Time Market\nprice of wholesale electricity to frequently reach $750 per MWh, resulting", "clipped": true, "phrase": "\"This is the most successful quarter in Dynegy's history\", reported chairman", "path": "kean-s/all_documents/2072."}, "s154": {"from": "richard.sanders@enron.com", "to": "gfergus@brobeck.com", "subject": "RE: FW: ANNOUNCEMENT: Notice of Press Conference today", "text": "reported an 83 percent increase in its third quarter 2000 income, as\ncompared to its third quarter 1999 figures.   Profits from Defendant\nDynegy's wholesale energy generating and trading division quadrupled to\n$141.9 million, which represented 80 percent of Dynegy's overall profits.\n\"This is the most successful quarter in Dynegy's history\", reported chairman\nand chief executive officer, Charles 'Chuck' Watson.  Other defendants also\nobtained large windfall profits during this period.\n49. Prior to deregulation, the historical cost to produce a megawatt\nhour of electricity in San Diego County was approximately $23-45 per MWh.\nDuring the Summer of 2000, defendants' conduct caused the Real Time Market\nprice of wholesale electricity to frequently reach $750 per MWh, resulting", "clipped": true, "phrase": "\"This is the most successful quarter in Dynegy's history\", reported chairman", "path": "sanders-r/all_documents/1041."}, "s169": {"from": "melissa.murphy@enron.com", "to": "tana.jones@enron.com", "subject": "Re: Dynegy Power Marketing", "text": "Hello,  Latausha McDowell is a contact at Dynegy that you can use. Her phone \nnumber is (713) 767-XXXX and fax is (713) 767-XXXX.\n\nThanks!\nMelissa\n3-1886\n\nFrom: Tana Jones on 11/30/2000 01:36 PM\nTo: Melissa Ann Murphy/HOU/ECT@ECT\ncc:  \nSubject: Re: Dynegy Power Marketing  \n\nI've got some changes to make to that assignment and then I'm ready to send \nit to them.  Do you have a contact for me to send it to?\n\n\tMelissa Ann Murphy\n\t11/30/2000 11:06 AM\n\t\t \n\t\t To: Tana Jones/HOU/ECT@ECT\n\t\t cc: \n\t\t Subject: Dynegy Power Marketing", "clipped": true, "phrase": "Latausha McDowell is a contact at Dynegy that you can use. Her phone \nnumber is (713) 767-XXXX and fax is (713) 767-XXXX.", "path": "jones-t/all_documents/5653."}, "s203": {"from": "kay.mann@enron.com", "to": "kathleen.carnahan@enron.com", "subject": "Re: Dynegy CA", "text": "Kay:\n\nI talked with Gary Hickey at Dynegy this afternoon regarding their interest \nin doing a deal involving one or both of the following:\n\n 1.  Purchasing 100% of the member interests of an ENA development project,\n\n 2.  A transaction involving generation equipment (7EA, W 501D5A, or LM 6000)\n\nGary is a V.P. over Dynegy's eastern U.S. and International Development \ngroup.  He indicated that their preferred areas for a development project \ntransaction would be in the SERC, PJM, and Illinois regions.  I described the \nequipment available for transactions and Gary said that he would take a few \ndays to look into it and get back to me.\n\nPlease draft a CA that would encompass these potential transaction \nstructures.  I am sure that Enron and Dynegy must have a form of CA that has", "clipped": true, "phrase": "Gary is a V.P. over Dynegy's eastern U.S. and International Development", "path": "mann-k/_sent_mail/1792."}, "s209": {"from": "tana.jones@enron.com", "to": "tanya.rohauer@enron.com, russell.diamond@enron.com", "subject": "Dynegy Marketing and Trade", "text": "I just got off the phone with Margaret Lester, a contract administrator at \nDynegy, and Harlan Murphy, an attorney she works with.  There was some \nmisinformation communicated to them about EOL, and I told them the only way \nwe would trade online with them was under the existing master, not under the \nonline GTCs, we wanted the bankruptcy protection the master affords.  They \nwant to replace the old ERMS Master with an ISDA and I told them we would be \nhappy to generate the master.  Can I get some credit from you so I can turn \naround a master quickly, or we will have to work off their form, which will \nthen become an ISDA comparison which will be a lot more work in the long run.\n\nMuch thanks as usual for your prompt help!", "clipped": false, "phrase": "I just got off the phone with Margaret Lester, a contract administrator at \nDynegy, and Harlan Murphy, an attorney she works with.", "path": "jones-t/all_documents/9313."}, "s212": {"from": "lexi.elliott@enron.com", "to": "richard.causey@enron.com, mark.lindsey@enron.com, sally.beck@enron.com", "subject": "RE: Fall Interviews", "text": "recruiting.\n\nAs you know, we decided to concentrate our spring 2001 effort on intern\nrecruiting and interviewing.  In order for us to ensure that we are\nbeing\neffective with this strategy, I need to know which companies interviewed\nfor summer interns during the fall 2000 recruiting season.  Companies of\nparticular interest would be El Paso, Williams, Dynegy, Duke, consulting\nfirms such as McKinsey, and Big 5 accounting firms.\n\nBy providing this information, you would greatly assist our effort for\nupcoming years.\n\nThank you in advance for your assistance.\n\nSincerely,\n\nLexi Elliott\n713/853-XXXX", "clipped": true, "phrase": "Companies of\nparticular interest would be El Paso, Williams, Dynegy, Duke, consulting\nfirms such as McKinsey, and Big 5 accounting firms.", "path": "beck-s/all_documents/402."}, "s217": {"from": "richard.causey@enron.com", "to": "lexi.elliott@enron.com", "subject": "RE: Fall Interviews", "text": "recruiting.\n\nAs you know, we decided to concentrate our spring 2001 effort on intern\nrecruiting and interviewing.  In order for us to ensure that we are\nbeing\neffective with this strategy, I need to know which companies interviewed\nfor summer interns during the fall 2000 recruiting season.  Companies of\nparticular interest would be El Paso, Williams, Dynegy, Duke, consulting\nfirms such as McKinsey, and Big 5 accounting firms.\n\nBy providing this information, you would greatly assist our effort for\nupcoming years.\n\nThank you in advance for your assistance.\n\nSincerely,\n\nLexi Elliott\n713/853-XXXX", "clipped": true, "phrase": "Companies of\nparticular interest would be El Paso, Williams, Dynegy, Duke, consulting\nfirms such as McKinsey, and Big 5 accounting firms.", "path": "beck-s/all_documents/413."}, "s213": {"from": "lexi.elliott@enron.com", "to": "richard.causey@enron.com, mark.lindsey@enron.com, sally.beck@enron.com", "subject": "RE: Fall Interviews", "text": "internship interviews.\n\nThank you,\n\nLexi\n\n---------------------- Forwarded by Lexi Elliott/NA/Enron on 02/09/2001 11:53 \nAM ---------------------------\n\n\"Cindy Henson\" <Cindy.Henson@bus.utexas.edu> on 02/05/2001 03:02:03 PM\nTo: <Lexi.Elliott@enron.com>\ncc:  \n\nSubject: RE: Fall Interviews\n\nLexi:\n\nAll of the companies that you mentioned interview for internships during\nSpring (February) recruiting.  Fall is primarily when these companies\ncome for full time recruiting.\n\n-----Original Message-----\nFrom: Lexi.Elliott@enron.com [mailto:Lexi.Elliott@enron.com]\nSent: Monday, February 05, 2001 2:56 PM\nTo: ljames@mail.utexas.edu; hensonc@mail.utexas.edu\nCc: Richard.Causey@enron.com; Mark.E.Lindsey@enron.com;\nShelly.Jones@enron.com\nSubject: Fall Interviews\n\nLynett and Cindy:\n\nGreetings from Houston!\n\nI have a special request for you.  In order for us to prepare our campus", "clipped": true, "phrase": "All of the companies that you mentioned interview for internships during\nSpring (February) recruiting.  Fall is primarily when these companies\ncome for full time recruiting.", "path": "beck-s/all_documents/402."}, "s280": {"from": "lisa.yoho@enron.com", "to": "james.steffes@enron.com, steven.kean@enron.com, richard.shapiro@enron.com", "subject": "WPTF Friday Crazy About U Burrito", "text": "Thought you might get a kick out of \"ISO California\" (at the end of this \nemail) written by Steve Huntoon, who is now with Dynegy's DC office.    -- \nLisa\n----- Forwarded by Lisa Yoho/NA/Enron on 03/16/2001 10:29 AM -----\n\n\tMary.Doyle@dynegy.com\n\t03/16/2001 10:08 AM\n\t\t \n\t\t To: Lyoho@enron.com\n\t\t cc: \n\t\t Subject: WPTF Friday Crazy About U Burrito\n\nCheck out the end of the burrito.\n\nTHE FRIDAY BURRITO\n\nBen Zycher from the RAND Corporation used the following line in his talk at\nthe WPTF General Meeting in Phoenix a few weeks ago. The story takes place", "clipped": true, "phrase": "\"ISO California\" (at the end of this \nemail) written by Steve Huntoon, who is now with Dynegy's DC office.", "path": "kean-s/all_documents/5522."}, "s282": {"from": "lisa.yoho@enron.com", "to": "james.steffes@enron.com, steven.kean@enron.com, richard.shapiro@enron.com", "subject": "WPTF Friday Crazy About U Burrito", "text": "Sane Away?\n\nJobs and People\n\nThe folks at Dynegy sent me a couple of job postings.\u0001; If your company has\nsimilar posting or job openings, or if you are reader looking for a new\ngig, drop me a line.\u0001; After all, it's free.\n\nPosition Description:\n\nDynegy's position has responsibility for the development of transmission\nand power markets in a geographic region of the U.S.\u0001; Duties are driven\nprimarily by federal, regional, and state activities to restructure and\nderegulate the electric power industry, and the need for industry\nparticipants to develop and implement market structures, policies, and\nregulations that promote liquid and competitive transmission and power\nmarkets.\u0001; Significant activity within a region to reshape the structure and", "clipped": true, "phrase": "Dynegy's position has responsibility for the development of transmission\nand power markets in a geographic region of the U.S.", "path": "kean-s/all_documents/5522."}, "s293": {"from": "dwatkiss@bracepatt.com", "to": "randy_mcmanus@bakerbotts.com, perlism@dsmo.com, joel.newton@dynegy.com,   \trichard.b.sanders@enron.com, agoldberg@lgl.twc.com,   \tjames.beh@troutmansanders.com", "subject": "Fwd: Strategy for Transferring Class Actions to FERC", "text": "|September 22, 2000) at 03/27/2001 09:31:40 AM\nMIME-Version: 1.0\nContent-type: multipart/mixed ; \nBoundary=\"0__=86256A1C00553E698f9e8a93df938690918c86256A1C00553E69\"\nContent-Disposition: inline\n\nDan, sorry I mispelled your name.  Joel\n---------------------- Forwarded by Joel Newton/HOU/Dynegy on 03/27/2001\n11:34 AM ---------------------------\n\nJoel Newton\n03/27/2001 10:12 AM\n\nTo:   Dwadkiss@bracepatt.com, rmcmanus@bakerbotts.com\ncc:\n\nSubject:  Strategy for Transferring Class Actions to FERC\n\nDan and Randy:\n\nDynegy is interested in working with you in this effort.  After hearing\nback from Wiliams, Duke and Mirant, perhaps we should all set up a meeting\nto coordinatre our efforts with our FERC and legislative teams.  Please let", "clipped": true, "phrase": "Forwarded by Joel Newton/HOU/Dynegy on 03/27/2001", "path": "sanders-r/all_documents/1726."}, "s347": {"from": "tim.belden@enron.com", "to": "greg.wolfe@enron.com, bill.iii@enron.com", "subject": "FYI: Dynegydirect introduces Hourly power", "text": "\"Posting our products and services online through Dynegydirect enables our customers to execute in real-time,\" said Matt Schatzman, president of Energy Trading for Dynegy Inc. \"This is especially important in the hourly market where trading decisions are analyzed each hour in a ten to 20 minute window.\"\nDynegydirect provides customers with real-time access to prices for natural gas, power, natural gas liquids, coal and emission allowances in North America. Dynegy customers and new users can view Dynegydirect's features and register online by visiting www.dynegydirect.com <http://www.dynegydirect.com>.", "clipped": true, "phrase": "said Matt Schatzman, president of Energy Trading for Dynegy Inc.", "path": "williams-w3/timbelden/7."}, "s529": {"from": "steven.kean@enron.com", "to": "jeffrey.mcmahon@enron.com", "subject": "Enron Mentions", "text": "the past few years. Its six electricity futures contracts have\nfizzled, as has its Middle East sour crude oil contract, which\ndebuted in May 2000.\n     ``I said yesterday, if you traded 100 to 200 contracts, that\nwould be a really a good day,'' said Chris Casale, vice president\nof energy trading at Dynegy Inc. in Houston, which trades coal and\nbuys the fuel for its six power plants in New York and Illinois.\n``It came out sort of on target.''\n     Most of today's trading was originated by large energy\nmarketing companies, he said, although he declined to say whether\nDynegy traded any contracts. Enron Corp., the largest energy\ntrader, and Duke Energy Corp., the largest U.S.-based utility\nholding company, have said they would trade coal futures.", "clipped": true, "phrase": "said Chris Casale, vice president\nof energy trading at Dynegy Inc. in Houston, which trades coal and", "path": "kean-s/all_documents/8775."}, "s335": {"from": "michael.tribolet@enron.com", "to": "steven.kean@enron.com, richard.shapiro@enron.com, james.steffes@enron.com,   \tmark.koenig@enron.com, karen.denne@enron.com, rick.buy@enron.com,   \twilliam.bradford@enron.com", "subject": "FW: Enron", "text": "be co-chair.    The only other marketer on the official committee is Dynegy, \nReliant is not on the committee but sat in.    The group generally agreed \nthat the co-chairs should be a financial player (bank, bond or CP) and an \nenergy company (QF or marketer).   After the phone call, I spoke with \nDynegy's general counsel John Herbert, who is their designated \nrepresentative.  He was going to check within his organization whether there \nwas appetite to serve today, but was not all that inclined, given his \"day \njob\" as he put it.   I think we would agree that a marketer should be the \nother co-chair as the QF's have a narrow agenda.  Here are some of the \nplusses and minuses if we threw our name in:\n\n+ Better access to information and guiding consensus", "clipped": true, "phrase": "I spoke with \nDynegy's general counsel John Herbert, who is their designated \nrepresentative.", "path": "kean-s/all_documents/5213."}, "s382": {"from": "richard.sanders@enron.com", "to": "debbie.chance@enron.com", "subject": "Call Alisa Johnston at Dynegy 713-767-XXXX re Debbie Chance", "text": "I called her twice but never heard back from her. If she is not calling you, \nI say let sleeping dogs lie. Have you heard anything?\n----- Forwarded by Richard B Sanders/HOU/ECT on 04/30/2001 08:14 AM -----\n\nTo Do\n\nSubject:\nCall Alisa Johnston at Dynegy 713-767-XXXX re Debbie Chance\n\nStarts:\n\nPriority:\n\nDue:\n\nType:\n\nOthers cannot see any details about this event.\n\nHave Notes notify you before the event.\n\nCategorize:\n\nDescription:", "clipped": false, "phrase": "Call Alisa Johnston at Dynegy 713-767-XXXX re Debbie Chance", "path": "sanders-r/all_documents/1906."}, "s383": {"from": "john.llodra@enron.com", "to": "louise.kitchen@enron.com", "subject": "Re: Dave Samuels", "text": "I have been meaning to swing by and introduce myself on one of my trips to Houston, and will be sure to do so on the next trip.\n\nRegards\nJohn\n\nLouise Kitchen@ECT\n04/27/2001 08:33 AM\nTo:\tJohn Llodra/Corp/Enron@ENRON\ncc:\t \n\nSubject:\tDave Samuels\n\nJust in case you meet him - there is a guy who left Enron yesterday to join Dynegy in Boston.  Dave has been with Enron since 1996 (I think), joining as an associate and leaving as a VP.  Dave wanted to relocate back to the North East.\n\nI've worked with Dave for about 4 years and he a very straightforward guy, I have no idea how much we do with Dynegy but Dave may be a good contact for you.\n\nRegards\n\nLouise", "clipped": true, "phrase": "there is a guy who left Enron yesterday to join Dynegy in Boston", "path": "kitchen-l/_americas/east_power/197."}, "s408": {"from": "henry.means@enron.com", "to": "", "subject": "Enron Mentions - 05/03/01", "text": "some volatility to Dynegy's stock because of the addition of power generation \nto its business,\" Prudential's Coale said. \"But overall, it's been a great \ndeal.\" \nWhile keeping most of Illinova management in place, Dynegy made the company's \nchairman, president and CEO, Charles Bayless, a nonexecutive director of the \ncombined entity. Dynegy's also marketing and trading all of Illinova's 3,800 \nmegawatts of output. \"They've streamlined power generation and traded around \nthe assets while keeping the distribution business in a sweet spot,\" said \nJohn Olson, an analyst at Sanders Morris Harris in Houston. \nIllinova, meanwhile, solved a big investor-related problem for Dynegy. Before", "clipped": true, "phrase": "chairman, president and CEO, Charles Bayless, a nonexecutive director of the", "path": "kean-s/all_documents/5039."}, "s445": {"from": "ccole@advocation-inc.com", "to": "skean@enron.com", "subject": "2001020610180618234.pdf", "text": "Steve,\n\nWith respect to the call this afternoon, please find an ISO presentation\nthat lists the creditors of the ISO as of 1/23/01. (see page 6). Check the\nPX web site for a list of particpants as a proxy for PX creditors\n\nJoe Paul\nDirector and Regulatory Counsel\nDynegy Marketing and Trade\n5976 W. Las Positas Blvd\nPleasanton, CA   94588\n925-469-XXXX\n626-627-XXXX (cell)\njoe.paul@dynegy.com\n\n - 2001020610180618234.pdf.pdf", "clipped": false, "phrase": "Joe Paul\nDirector and Regulatory Counsel\nDynegy Marketing and Trade", "path": "kean-s/all_documents/4946."}, "s447": {"from": "lynn.a.lednicky@dynegy.com", "to": "skean@enron.com", "subject": "California", "text": "Steve,\n\nDynegy has not yet decided how it will proceed on the working group with\nGovernor Davis' office, but please us me as the Dynegy contact person.\n\nLynn Lednicky\n713 767 8637\n713 767 6677 (fax)\nLynn.A.Lednicky@Dynegy.com", "clipped": false, "phrase": "Governor Davis' office, but please us me as the Dynegy contact person.", "path": "kean-s/all_documents/4929."}, "s478": {"from": "ann.schmidt@enron.com", "to": "", "subject": "Enron Mentions - 05/26/01 - 05/27/01", "text": "executives in Houston. \n\"We had an incredible year last year,\" said Jennifer Rosser, director of \nstrategic business communications. The stock price increased 231 percent, the \nnumber of employees more than doubled, and the company had a 210 percent \nincrease in net income. \nChuck Watson, chairman and CEO, and Steve Bergstrom, the company's president, \nare among the founders of the company, she said. \nIncentive plans based on options and awards of stock work well when the stock \nmarket is riding high. They aren't as effective when the stock prices are \n\"underwater\" - Wall Street lingo for worthless. \nSo, to re-motivate executives in a depressed stock market, nonenergy \ncompanies have been focusing on short-term incentives such as cash bonuses, \nsaid Wes Hart, an executive compensation consultant who designs executive", "clipped": true, "phrase": "Chuck Watson, chairman and CEO, and Steve Bergstrom, the company's president, \nare among the founders of the company", "path": "kean-s/all_documents/4731."}, "s736": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "Kenneth Lay, the Enron chairman and chief executive who built an empire from two troubled gas pipeline companies -- and whose influential friends include President Bush -- is the one who points to the bleachers. Dynegy's chairman and chief executive, Charles L. Watson, is less well known but is well respected among stock analysts. He also started small, nurturing his energy trading and generating company -- which had $33 billion in revenue for the nine months ended Sept. 30 -- from a natural gas trading concern he began in the mid-80's.", "clipped": true, "phrase": "Dynegy's chairman and chief executive, Charles L. Watson, is less well known but is well respected among stock analysts.", "path": "kitchen-l/_americas/sec_media/42."}, "s479": {"from": "ann.schmidt@enron.com", "to": "", "subject": "Enron Mentions - 05/26/01 - 05/27/01", "text": "she said. And it didn't hurt that the stock price more than doubled during \nthe year. \nDynegy's executives also benefited from the company's rapid growth. Two of \nthe merchant energy company executives were among the 14 highest-paid \nexecutives in Houston. \n\"We had an incredible year last year,\" said Jennifer Rosser, director of \nstrategic business communications. The stock price increased 231 percent, the \nnumber of employees more than doubled, and the company had a 210 percent \nincrease in net income. \nChuck Watson, chairman and CEO, and Steve Bergstrom, the company's president, \nare among the founders of the company, she said. \nIncentive plans based on options and awards of stock work well when the stock \nmarket is riding high. They aren't as effective when the stock prices are", "clipped": true, "phrase": "\"We had an incredible year last year,\" said Jennifer Rosser, director of \nstrategic business communications.", "path": "kean-s/all_documents/4731."}, "s509": {"from": "kay.mann@enron.com", "to": "suzanne.adams@enron.com", "subject": "Re: New York Hotel", "text": "Harlan Murphy started last week.  Nice guy from Dynegy.\n\nFrom: Suzanne Adams@ECT on 06/06/2001 03:48 PM\nTo: Kay Mann/Corp/Enron@ENRON\ncc:  \n\nSubject: Re: New York Hotel  \n\nI'm curious?\n\n\tKay Mann@ENRON\n\t06/06/2001 03:47 PM\n\t\t\n\t\t To: Suzanne Adams/HOU/ECT@ECT\n\t\t cc: \n\t\t Subject: Re: New York Hotel\n\nWhy would you ask a question out of the blue?\n\nFrom: Suzanne Adams@ECT on 06/06/2001 03:45 PM\nTo: Kay Mann/Corp/Enron@ENRON\ncc:  \n\nSubject: Re: New York Hotel", "clipped": true, "phrase": "Harlan Murphy started last week.  Nice guy from Dynegy.", "path": "mann-k/_sent_mail/27."}, "s511": {"from": "ray.niles@ssmb.com", "to": "", "subject": "Perspective on FERC Regulatory Action Client Conf Call Today, Jun\te   19th , 2:00pm EDT", "text": "Perspective on FERC Regulatory Action Client Conference Call\nTODAY, Tuesday, June 19th\n2:00pm EDT\n\nHost:\t\tRay Niles, Power/Natural Gas Analyst\nSpeaker:\tSteve Bergstrom, President & COO of Dynegy\n\nSteve Bergstrom, President and Chief Operating Officer of Dynegy, will join\nus at 2:00 p.m. today for a conference call discussion of the recent FERC\naction imposing price controls in the West.  The discussion will be followed\nby Q&A.\n\nQuestions to be explored include:\n\nWhat are the implications of the FERC action, for DYN and the industry as a\nwhole?\nWhat is the earnings impact?\nWhat are the risks of further re-regulation?\n\nand whatever else is on your minds\n\nWe attach two recent notes on the FERC action for your reference.\n\nCall In\t\t\t\tReplay\t\t\t\tReservation\n800-229-XXXX US\t\t\t800-642-XXXX US\t\t\t1073259\n706-645-XXXX Int'l\t\t\t706-645-XXXX Int'l\nreplay until 6/22, 11:59pm\n\nRaymond C. Niles\nPower/Natu", "clipped": true, "phrase": "Speaker:\tSteve Bergstrom, President &amp; COO of Dynegy", "path": "kitchen-l/_americas/portland/92."}, "s1445": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "Still, Dynegy is aggressively trying to build up its energy-trading business. Dynegy's president and chief operating officer, Steve Bergstrom, who worked for Enron in the early 1980s, is considered one of the brightest lights in energy trading and Dynegy has been moving to bulk up its base of pipelines, production and power-plant capacity to complement its trading operations.", "clipped": true, "phrase": "Dynegy's president and chief operating officer, Steve Bergstrom, who worked for Enron in the early 1980s, is considered one of the brightest lights in energy trading", "path": "kitchen-l/_americas/sec_media/1."}, "s553": {"from": "richard.lewis@enron.com", "to": "louise.kitchen@enron.com", "subject": "FW: Steve Vavrik", "text": "Subject:\tSteve Vavrik\n\nSteve's resigned, going back to Boston where his wife has a job.  I said I'd see whether NA can use him or EES, (he's not keen to leave the company).  I also asked him to talk to Chris McKey re metals in New York.  (Chris, perhaps you could give him a call if he doesn't).\n\nHe is likely to end up at Calpine, Intergen or Dynegy if we can't place him.\n\nR", "clipped": true, "phrase": "He is likely to end up at Calpine, Intergen or Dynegy if we can't place him.", "path": "kitchen-l/_americas/hr/116."}, "s563": {"from": "paul.devries@enron.com", "to": "nella.cappelletto@enron.com, louise.kitchen@enron.com,   \trob.milnthorp@enron.com, derek.davies@enron.com", "subject": "RE: Paul Goddard", "text": "To:\tDavies, Derek\nCc:\tMilnthorp, Rob\nSubject:\tPaul Goddard\n\nPaul Goddard is a manager in the London office looking to come home to Canada (Calgary or Toronto) and has spoken to Paul in Toronto.  Paul is a strong manager who has been in the organisation for several years.  I know that Paul has a position offer in Dynegy (from Pope obviously).  I think that it would be good for you to have a chat with him to see if there is a fit as I wouldn't want to lose him.  At the moment, he seems very keen on Toronto and working in power retail - he definitely doesn't want to leave Enron.\n\nHis number is +44 7748 932298\n\nThanks\n\nLouise", "clipped": true, "phrase": "I know that Paul has a position offer in Dynegy (from Pope obviously).", "path": "kitchen-l/_americas/hr/88."}, "s564": {"from": "paul.devries@enron.com", "to": "louise.kitchen@enron.com, rob.milnthorp@enron.com, derek.davies@enron.com,   \tdawn.doucet@enron.com, patricia.henry@enron.com", "subject": "FW: Paul Goddard - Done deal", "text": "To:\tDavies, Derek\nCc:\tMilnthorp, Rob\nSubject:\tPaul Goddard\n\nPaul Goddard is a manager in the London office looking to come home to Canada (Calgary or Toronto) and has spoken to Paul in Toronto.  Paul is a strong manager who has been in the organisation for several years.  I know that Paul has a position offer in Dynegy (from Pope obviously).  I think that it would be good for you to have a chat with him to see if there is a fit as I wouldn't want to lose him.  At the moment, he seems very keen on Toronto and working in power retail - he definitely doesn't want to leave Enron.\n\nHis number is +44 7748 932298\n\nThanks\n\nLouise", "clipped": true, "phrase": "I know that Paul has a position offer in Dynegy (from Pope obviously).", "path": "kitchen-l/_americas/hr/87."}, "s574": {"from": "j..kean@enron.com", "to": "richard.shapiro@enron.com", "subject": "FW: Summit", "text": "-----Original Message-----\nFrom: Peter.Esposito@dynegy.com [mailto:Peter.Esposito@dynegy.com]\nSent: Friday, October 05, 2001 3:07 PM\nTo: SKean@enron.com\nSubject: Summit\n\nSteve: It's ok if rick attends the DYN summit in Hou although I'll feel\nfree to harass him re Enron's hackberry filing.  Cheers, peter\n\n--------------------------\nPeter G. Esposito\nVP & Regulatory Counsel\nDynegy Inc.\n1181 Gothic Corridor\nP.O. Box 748\nCrested Butte, CO 81224\n\nDirect: 970-349-XXXX\nCell: 970-209-XXXX\nFax: 713-356-XXXX\nPager: 713-616-XXXX\n\nDC Office: 202-216-XXXX\nHouston Office: 713-507-XXXX", "clipped": false, "phrase": "Peter G. Esposito\nVP &amp; Regulatory Counsel\nDynegy Inc.", "path": "kean-s/sent_items/96."}, "s623": {"from": "power@wbresearch.com", "to": "skean@enron.com", "subject": "25% Discount For Power2001", "text": "WILLIAMS GAS PIPELINE: Cuba Wadlington, Jr., President and CEO \nINTERGEN NORTH AMERICA: West Griffin, CFO \nCALPINE NATURAL GAS: Bill Berilgen, President \nMIRANT: David Rozier, SVP and CEO, Mirant Americas Southern Region \nEL PASO NORTH AMERICA: Larry Kellerman, Senior Managing Director \nDYNEGY: Peter Esposito, VP and Regulatory Counsel \nCALPINE: Tayeb Tahir, Managing Director \nONTARIO POWER GENERATION: Wayne Bingham, Executive Vice President and Chief Financial Officer \nRELIANT ENERGY: John Meyer, VP, Asset Commercialization \nNRG ENERGY: Nazar Massouh, Executive Director, Finance & Acquisitions \nINTERGEN LATIN AMERICA: John Foster, SVP, InterGen Latin America \n\n<http://www.wbresearch.com/power2001az/>", "clipped": true, "phrase": "DYNEGY: Peter Esposito, VP and Regulatory Counsel", "path": "kean-s/inbox/31."}, "s597": {"from": "louise.kitchen@enron.com", "to": "marcello.romano@enron.com", "subject": "RE: Am at home", "text": "Dynegy to run Orig - in Europe working for Cardone.  \n\n-----Original Message-----\nFrom: Romano, Marcello \nSent: Wednesday, October 17, 2001 9:03 AM\nTo: Kitchen, Louise\nSubject: RE: Am at home\n\nWhere has he gone?\n \nM\n\n-----Original Message-----\nFrom: Kitchen, Louise \nSent: 17 October 2001 13:42\nTo: Romano, Marcello\nSubject: FW: Am at home\n\nJust in case you didn't know yet\n-----Original Message-----\nFrom: Whitehead, Jonathan \nSent: Tuesday, October 16, 2001 10:12 PM\nTo: Kitchen, Louise\nSubject: Am at home\n\nSpoke to Eric late Tuesday afternoon, am not coming into the office again. Have formally resigned. Have sent John an email.\n \n713 666 9150\n \nJonathan", "clipped": false, "phrase": "Dynegy to run Orig - in Europe working for Cardone.", "path": "kitchen-l/sent_items/729."}, "s608": {"from": "louise.kitchen@enron.com", "to": "john.sherriff@enron.com", "subject": "confidential", "text": "Heads Up, I spoke to Jonathon this evening.  I confirmed that Dynegy had been speaking to Eric Shaw at length.  I think the only reason Jonathan got the job was that he asked for less money.\nSpeak soon \nL", "clipped": false, "phrase": "I confirmed that Dynegy had been speaking to Eric Shaw at length.", "path": "kitchen-l/sent_items/698."}, "s609": {"from": "john.sherriff@enron.com", "to": "louise.kitchen@enron.com", "subject": "RE: confidential", "text": "Thanks - Eric mentioned that Dynegy had been pursuing him.  We did however sign up Eric on a \nthree year agreement last week.  Too bad about Jonathon but given his back to back\nexperiences in Japan and LNG it was probably a good move on his part.\n\nJohn\n\n -----Original Message-----\nFrom: \tKitchen, Louise  \nSent:\t19 October 2001 02:22\nTo:\tSherriff, John\nSubject:\tconfidential\n\nHeads Up, I spoke to Jonathon this evening.  I confirmed that Dynegy had been speaking to Eric Shaw at length.  I think the only reason Jonathan got the job was that he asked for less money.\nSpeak soon \nL", "clipped": false, "phrase": "Eric mentioned that Dynegy had been pursuing him.  We did however sign up Eric on a \nthree year agreement last week.", "path": "kitchen-l/_americas/hr/53."}, "s610": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "The event at the George R. Brown Convention Center put the spotlight on Weingarten Realty Investors Chairman Stanford Alexander; Compaq Computer founder and former Chief Executive Officer Rod Canion; retired Reliant Energy Chairman and CEO Don Jordan; and Dynegy Chairman and CEO Chuck Watson. \nThis is the 19th year the nonprofit Texas Business Hall of Fame Foundation has honored the state's business leaders with a dinner and induction event. \nAs chairman of Weingarten Realty Investors, Stanford Alexander built the company into one of the nation's largest publicly traded real estate companies.", "clipped": true, "phrase": "retired Reliant Energy Chairman and CEO Don Jordan; and Dynegy Chairman and CEO Chuck Watson.", "path": "kean-s/deleted_items/34."}, "s611": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "Jordan has spent a lot of time on the Houston Livestock Show & Rodeo board and many other civic groups. \nChuck Watson has built Dynegy into one of Houston's leading energy companies, but he is more well-known for his forays into the world of sports. \nWatson established NGC Corp., Dynegy's predecessor, in 1985 and served as president until becoming chairman and chief executive officer in 1989. \nRecently Watson was revealed to be the largest investor in the limited partnership assembled to put together the Texans, Houston's National Football League franchise. It begins playing next year. \nWatson also owns the Aeros, Houston's American Hockey League team.", "clipped": true, "phrase": "Chuck Watson has built Dynegy into one of Houston's leading energy companies, but he is more well-known for his forays into the world of sports.", "path": "kean-s/deleted_items/34."}, "s612": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "Jordan has spent a lot of time on the Houston Livestock Show & Rodeo board and many other civic groups. \nChuck Watson has built Dynegy into one of Houston's leading energy companies, but he is more well-known for his forays into the world of sports. \nWatson established NGC Corp., Dynegy's predecessor, in 1985 and served as president until becoming chairman and chief executive officer in 1989. \nRecently Watson was revealed to be the largest investor in the limited partnership assembled to put together the Texans, Houston's National Football League franchise. It begins playing next year. \nWatson also owns the Aeros, Houston's American Hockey League team.", "clipped": true, "phrase": "Watson established NGC Corp., Dynegy's predecessor, in 1985 and served as president until becoming chairman and chief executive officer in 1989.", "path": "kean-s/deleted_items/34."}, "s721": {"from": "matthew.lenhart@enron.com", "to": "mike.grigsby@enron.com", "subject": "FW: Dynegy Inc.: IN THE MONEY: Enron Transparency Not Transparent   Enough", "text": "because its structure is needlessly complicated to begin with. If Enron\nwants to get back the market's confidence, fixing that problem, one way\nor the other, would be a good place to start.\n\n  -By Michael Rapoport, Dow Jones Newswires; 201-938-XXXX;\nmichael.rapoport@dowjones.com\n\nFolder Name: Dynegy Inc.\nRelevance Score on Scale of 100: 100\n\n______________________________________________________________________\n\nTo review or revise your folder, visit http://www.djinteractive.com or contact Dow Jones Customer Service by e-mail at custom.news@bis.dowjones.com or by phone at 800-369-XXXX. (Outside the U.S. and Canada, call 609-452-XXXX or contact your local sales representative.)\n______________________________________________________________________", "clipped": true, "phrase": "Folder Name: Dynegy Inc.\nRelevance Score on Scale of 100: 100", "path": "lenhart-m/sent_items/799."}, "s764": {"from": "chairman.ken@enron.com", "to": "dl-ga-all_enron_worldwide5@enron.com", "subject": "Enron Announces Plans to Merge with Dynegy", "text": "formation about Dynegy and Enron, without charge, at the SEC's web site at www.sec.gov.  Copies of the joint proxy statement/prospectus and the SEC filings that will be incorporated by reference in the joint proxy statement/prospectus may also be obtained for free by directing a request to either:  Investor Relations, Dynegy Inc., 1000 Louisiana, Suite 5800, Houston, TX 77002, Phone:  (713) 507-XXXX, Fax:  (713) 507-XXXX; or Investor Relations, Enron Corp., 1400 Smith Street, Houston, TX 77002, Phone:  (713) 853-XXXX, Fax:  (713) 646-XXXX.", "clipped": true, "phrase": "Investor Relations, Dynegy Inc., 1000 Louisiana, Suite 5800, Houston, TX 77002, Phone:  (713) 507-XXXX", "path": "jones-t/inbox/944."}, "s875": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "Speaking to analysts yesterday, Rob Doty, chief financial officer at Dynegy, said the company was paying about seven or eight times the cash flow of the pipeline business. \nWalking away from the deal might cost Dynegy $350 million if it could not cite any material adverse change in Enron's business, as provided in the merger agreement. But one way to look at this deal is that Dynegy is spending $1.85 billion for the pipeline and a right to get the rest of Enron on the agreed terms. \nMr. Watson said he was confident that things would not go wrong.", "clipped": true, "phrase": "Speaking to analysts yesterday, Rob Doty, chief financial officer at Dynegy, said the company was paying about seven or eight times the cash flow of the pipeline business.", "path": "kitchen-l/_americas/sec_media/36."}, "s1408": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions- 11/30/01", "text": "any action, including filing for bankruptcy, without the consent\nof Dynegy as a preferred stockholder, Dynegy said in a statement.\n\n     Dynegy's right to the pipeline ``is not dependent on Enron's\nagreement to our right to terminate the merger,'' Dynegy Chief\nFinancial Officer Rob Doty said in the statement. Dynegy said\ntoday it plans to complete the pipeline purchase on Dec. 12.\n\n     Shares of Enron fell 25 cents to 36 cents yesterday. They\nhave fallen 99 percent since mid-October. Dynegy fell $2.32, or\n6.5 percent, to $33.65. Both companies are based in Houston.\n\nEnron May Cost Insurers Over $3 Billion, Analysts Say (Update1)\n2001-11-30 09:33 (New York)\n\nEnron May Cost Insurers Over $3 Billion, Analysts Say (Update1)", "clipped": true, "phrase": "Financial Officer Rob Doty said in the statement. Dynegy said", "path": "kitchen-l/_americas/sec_media/5."}, "s1051": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions- 11/20/01", "text": "\"The best accounting standards in the world are meaningless if the accounting and audit processes are so inept or corrupt that they produce unreliable numbers and untruthful reporting,\" Dingell wrote in a letter to the Public Oversight Board requesting the investigation. \nAndersen, based in Chicago, has a large Houston office and a strong foothold in the energy industry with clients, including Enron and Dynegy. Critics of Andersen have said the firm should have done more as Enron's auditor to draw investors' attention to the company's unusual finances. \nA lawsuit filed in Oregon alleged Andersen's judgment was swayed by lucrative consulting fees that it received from Enron while it was auditor.", "clipped": true, "phrase": "Andersen, based in Chicago, has a large Houston office and a strong foothold in the energy industry with clients, including Enron and Dynegy.", "path": "kean-s/deleted_items/410."}, "s1250": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions- 11/26/01", "text": "Johnson declined to comment on any matters related the pending acquisition of its larger rival, and wouldn't say whether the board has been meeting to discuss the transaction. \nThree other board members, through their representatives, declined to comment as well. Other non-executive directors on the 14-member board either weren't immediately available to comment or couldn't be reached. \nAs for Dynegy's management, spokesman John Sousa said the company's opinion on the deal remains the same since its last comments on Wednesday. \nAt that time, Dynegy Chairman and Chief Executive Chuck Watson said Dynegy was continuing its due diligence and was looking to accelerate regulatory approval of the deal. \nAccording to Sousa, Dynegy worked through the holiday weekend gathering information as part of its due diligence efforts.", "clipped": true, "phrase": "Other non-executive directors on the 14-member board either weren't immediately available to comment or couldn't be reached.", "path": "kean-s/deleted_items/504."}, "s1306": {"from": "s..bradford@enron.com", "to": "louise.kitchen@enron.com", "subject": "FW: ICE Counterparty Filter Change Notice [Dynegy Marketing and   Trade]", "text": "From: \ticehelpdesk@intcx.com [mailto:icehelpdesk@intcx.com] \nSent:\tWednesday, November 28, 2001 3:04 AM\nTo:\tMoran, Tom\nSubject:\tICE Counterparty Filter Change Notice [Dynegy Marketing and Trade]\n\nYour Firm: Enron North America Corp.\nCounterparty: Dynegy Marketing and Trade\nCredit Manager: Tom   White\nDate/Time: November 28, 2001 14:03:34.036 GMT\nPhone: 713/767-XXXX \nE-Mail: Thomas.White@dynegy.com \n\nThe counterparty changed the following credit filter data affecting your firm for Financial Power.\nCredit Filter Attribute       \tPreviously     \tNow\nOpen or closed                \tOpen           \tClosed", "clipped": true, "phrase": "Credit Manager: Tom   White\nDate/Time: November 28, 2001 14:03:34.036 GMT\nPhone: 713/767-XXXX", "path": "kitchen-l/_americas/esvl/435."}, "s1318": {"from": "chris.lonsdale@enron.com", "to": "louise.kitchen@enron.com", "subject": "RE: Hello", "text": "Jonathan W. and Dave Redmond started at Dynegy Monday so inside info should be available. \nKeep in touch and keep the faith\nBest Wishes\nChristine\n\n -----Original Message-----\nFrom: \tKitchen, Louise  \nSent:\t25 September 2001 00:13\nTo:\tLonsdale, Christine\nSubject:\tRE: Hello\n\nDid Jonathan and Lesley ever get married?\n\nMarcus spoke to Caroline last week and said she wasn't very happy.  It would probably be great for Caroline to do something else.", "clipped": true, "phrase": "Jonathan W. and Dave Redmond started at Dynegy Monday so inside info should be available.", "path": "kitchen-l/_americas/esvl/431."}, "s1319": {"from": "chris.lonsdale@enron.com", "to": "louise.kitchen@enron.com", "subject": "RE: Hello", "text": "Sent:\tTuesday, November 20, 2001 5:49 AM\nTo:\tKitchen, Louise\nSubject:\tRE: Hello\n\nDear Louise\nSorry I haven't got back before - can't imagine why! How I things with you - here people seem to be going thru the various stages of mourning; I think we're between anger and resignation right now. As the only ex-Dynegy person here my popularity has shot up - things were put in perspective when someone asked me if there were any good-looking blokes in Dynegy!\nAnswers to your much earlier questions - Jonathan & Lesley were surprised and amused when I congratulated them some while ago on their marriage - they clearly weren't & I don't think that's changed.", "clipped": true, "phrase": "As the only ex-Dynegy person here my popularity has shot up", "path": "kitchen-l/_americas/esvl/431."}, "s1320": {"from": "chris.lonsdale@enron.com", "to": "louise.kitchen@enron.com", "subject": "RE: Hello", "text": "Are you coming over here at all - it would be great to see you over this side of the water.  David Hutchinson is coming over next month.\n\nLouise\n\n -----Original Message-----\nFrom: \tLonsdale, Christine  \nSent:\tMonday, September 24, 2001 2:43 AM\nTo:\tKitchen, Louise\nSubject:\tRE: Hello\n\nHi Louise\nYes, thought I'd follow in your footsteps but a bit late in the day for me to catch up! Dynegy was no longer the place to be.\nWorking for Mr Crilly which is interesting - Andy & co are a great bunch of guys on the trading desk. I'm staying off the phones (too old for all that) and am doing \"strategy\" - will get them sorted out here in the end!", "clipped": true, "phrase": "Yes, thought I'd follow in your footsteps but a bit late in the day for me to catch up! Dynegy was no longer the place to be.", "path": "kitchen-l/_americas/esvl/431."}, "s1458": {"from": "bill.williams@enron.com", "to": "wjwilliams3@hotmail.com", "subject": "FW: You'll enjoy this", "text": "Just as the Drexel junk bond traders who didn't go to jail went to other Wall Street firms and created replicas of their former business, former Enron traders will soon be making lots of money for one-time rivals such as Dynegy Inc. and Duke Energy Corp. Well before Kenneth Lay emerges from his legal hell, the energy trading business will return to normal. \nBut the morality of the cases are entirely different. Whatever you think of Milken's junk bond department -- and I think its sins were minor beside its achievements -- you must admit the people in it exhibited a certain honor among thieves.", "clipped": true, "phrase": "former Enron traders will soon be making lots of money for one-time rivals such as Dynegy Inc. and Duke Energy Corp.", "path": "williams-w3/sent_items/41."}, "s1459": {"from": "bill.williams@enron.com", "to": "bwilliamsjr4@attbi.com", "subject": "Read and make suggestions", "text": "Alumni Will Flourish \nTrue, in both cases profitable trading businesses collapsed because their creditors came to distrust the people who ran them. And in both cases the core business -- Drexel's junk bonds and Enron's energy trading -- remain viable in the hands of other companies that banks trust. \nJust as the Drexel junk bond traders who didn't go to jail went to other Wall Street firms and created replicas of their former business, former Enron traders will soon be making lots of money for one-time rivals such as Dynegy Inc. and Duke Energy Corp. Well before Kenneth Lay emerges from his legal hell, the energy trading business will return to normal.", "clipped": true, "phrase": "And in both cases the core business -- Drexel's junk bonds and Enron's energy trading -- remain viable in the hands of other companies that banks trust.", "path": "williams-w3/sent_items/40."}, "s1465": {"from": "bill.williams@enron.com", "to": "ryan.slinger@enron.com", "subject": "FW: You'll enjoy this", "text": "-----Original Message-----\nFrom: \tHall, Steve C. (Legal)  \nSent:\tThursday, December 20, 2001 3:10 PM\nTo:\tHeizenrader, Tim\nSubject:\tYou'll enjoy this\n\nHe notes that Enron management lacked an 'honor among thieves,' but predicts that Enron alumni will flourish.  I suspect he is working on the Enron book right now.---sch\nIs Enron the New Drexel? \nBy Michael Lewis, the author of ``Liar's Poker'' and ``The New New Thing.''\nBerkeley, California, Dec. 20 (Bloomberg) -- Enron Corp. is rapidly expanding the American business journalists' notion of what is possible: No story can ever again be said to be too outrageous to be true.", "clipped": true, "phrase": "He notes that Enron management lacked an 'honor among thieves,' but predicts that Enron alumni will flourish.", "path": "williams-w3/sent_items/38."}, "s1473": {"from": "mschopper@houston.org", "to": "e-mail <.ben@enron.com>, e-mail <.c.@enron.com>, e-mail <.charles@enron.com>,   \tsavino.charlie@enron.com, e-mail <.claire@enron.com>,   \te-mail <.david@enron.com>, e-mail <.deborah@enron.com>,   \te-mail <.e.@enron.com>, e-mail <.eugene@enr", "subject": "The Center -- An Invitation", "text": "should be paid by a check made payable to Center for Houston's Future.\nPlease send the check to Jill Murray, Center for Houston's Future, 1200\nSmith, Suite 1150, Houston, TX  77002.  Thank you for your committment\nand see you at the Houston Club.\n\nWho: Dynegy's Chairman and CEO, Chuck Watson\n\nWhat: A Conversation with Chuck Watson about Energy, Diversity and the\nFuture of Houston\n\nWhen: Thursday, January 17, 2002, 11:45 a.m. check-in, noon luncheon\nReception to precede event, 11:30 a.m. prompt, Travis Room\n\nWhere: The Houston Club, 811 Rusk\n\nWhy: This event is a part of The Houston Club's Distinguished Speakers\nSeries\n\n - winmail.dat", "clipped": true, "phrase": "Who: Dynegy's Chairman and CEO, Chuck Watson\n\nWhat: A Conversation with Chuck Watson about Energy, Diversity and the\nFuture of Houston", "path": "beck-s/inbox/177."}, "s1477": {"from": "mschopper@houston.org", "to": "sally.beck@enron.com", "subject": "RE: IMMEDIATE RESPONSE REQUESTED!  The Center -- An Invitation", "text": "Yes, we will hold space for Sally.  Thank you for your reply.\n\n-----Original Message-----\nFrom: Sally.Beck@enron.com [mailto:Sally.Beck@enron.com]\nSent: Thursday, January 10, 2002 3:43 PM\nTo: Marilou Schopper\nSubject: RE: IMMEDIATE RESPONSE REQUESTED! The Center -- An Invitation\nImportance: High\n\nYes, Sally Beck will attend.  Please confirm that you still have\navailability for her.\n\nThank you,\n\nChristina Valdez\nAsst. to Sally Beck\n713.853.XXXX\n713.345.XXXX\n\n    -----Original Message-----\n   From:   \"Marilou Schopper\" <MSCHOPPER@houston.org>@ENRON\n   Sent:   Thursday, January 10, 2002 9:51 AM\n   To:     Ben F. Love (E-mail); C. Richard Everett (E-mail); Charles E.\n             McMahen (E-mail); Charlie Savino; Claire Farley (E-mail);\n             David L. Mendez (E-mail); Deborah M. Cannon (E-mail); E.\n             William Barnett (E-mail); Eugene H. Vaughan Jr. (E-mail);\n             Geo", "clipped": true, "phrase": "&gt; Please consider this event -- a compelling speech by Dynegy's\nChairman\n   &gt; and CEO, Chuck Watson.", "path": "beck-s/deleted_items/64."}, "s14": {"from": "scott.pleus@enron.com", "to": "mark.friedman@enron.com, jeremy.mills@enron.com, danae.umbower@enron.com,   \tmolly.lafuze@enron.com", "subject": "Bandwidth Trading Forum", "text": "advantage the marketplace, how we build\n a good powerful market model.\" \n\n CompTel's Frisby, Enron's Gros and Williams's Epps wouldn't discuss which \nother companies were attending the\n meeting in Washington. But Dow Jones Newswires was able to obtain a list of \nattendees. \n\n Among the invitees are companies with experience trading energy commodities \n- Dynegy Inc. (DYN); El Paso\n Energy Corp. (EPG); Columbia Transmission Communications, a unit of Columbia \nEnergy Group (CG); and\n Koch Industries, which has investments in energy and telecommunications. \n\n A surprise on the list is MCI WorldCom. Some industry sources have said the \ncompany opposes the idea of\n bandwidth trading under standard terms and conditions. \n\n An industry analyst, who didn't want to be identified, said MCI WorldCom's", "clipped": true, "phrase": "Among the invitees are companies with experience trading energy commodities \n- Dynegy Inc. (DYN); El Paso", "path": "beck-s/all_documents/2398."}, "s84": {"from": "issuealert@scientech.com", "to": "", "subject": "Dynegy Launches B2B Portal and Trading Site", "text": "a participant in all of the transactions, either as a buyer or a seller.\nUnlike EnronOnline, which is completely online, Dynegydirect will allow\ncustomers to conduct their transactions with Dynegy over the telephone\nduring and following the launch of the site.\n\nOver the last year, Dynegy has identified its strategy as wanting to become\na leader in the converging energy and communications business. In addition,\naccording to Dynegy's CEO Chuck Watson, the company's goal is to gain a\n10-percent share (or 70,000 MW) of the U.S. electric market over the next\nfive years by acquiring plants, building them or negotiating the right\nto sell power produced by others. Along with a strident strategy of building\nmerchant plants in areas where demand is growing significantly, Dynegy", "clipped": true, "phrase": "Over the last year, Dynegy has identified its strategy as wanting to become\na leader in the converging energy and communications business.", "path": "kean-s/all_documents/1627."}, "s85": {"from": "issuealert@scientech.com", "to": "", "subject": "Dynegy Launches B2B Portal and Trading Site", "text": "customers to conduct their transactions with Dynegy over the telephone\nduring and following the launch of the site.\n\nOver the last year, Dynegy has identified its strategy as wanting to become\na leader in the converging energy and communications business. In addition,\naccording to Dynegy's CEO Chuck Watson, the company's goal is to gain a\n10-percent share (or 70,000 MW) of the U.S. electric market over the next\nfive years by acquiring plants, building them or negotiating the right\nto sell power produced by others. Along with a strident strategy of building\nmerchant plants in areas where demand is growing significantly, Dynegy\npresumably plans to now use its trading portal to market the power it has\neither generated itself or bought on the wholesale market.\n\nI spoke late yesterday afternoon with Blake Young, Dynegy's chief information", "clipped": true, "phrase": "according to Dynegy's CEO Chuck Watson, the company's goal is to gain a\n10-percent share (or 70,000 MW) of the U.S. electric market over the next\nfive years", "path": "kean-s/all_documents/1627."}, "s416": {"from": "henry.means@enron.com", "to": "", "subject": "Enron Mentions - 05/03/01", "text": "marketing, Dynegy has been dumping some of its mid-stream assets, such as \nprocessing plants and pipelines, particularly in the mid-Continent region. \nThe idea now is to increase Dynegy's so-called merchant power capacity -- or \nthe electricity it sells wholesale to anyone who needs it -- to 70,000 \nmegawatts by 2004 through acquisitions, new construction and asset management \nagreements. \nAs a result, Watson has become what some are calling \"an acquisitions hound.\" \nHe's already acquired some facilities. On Jan. 31, Dynegy completed the \npurchase of two power plants in the Hudson River Valley -- the 1,200-megawatt \nRoseton power plant in Newburgh, N.Y., and the 500-megawatt Danskammer plant", "clipped": true, "phrase": "the electricity it sells wholesale to anyone who needs it -- to 70,000", "path": "kean-s/all_documents/5039."}, "s632": {"from": "issuealert@scientech.com", "to": "issuealerthtml@listserv.scientech.com", "subject": "Dynegy vs. Enron:  A Tale of Two Companies", "text": "an acquisition binge, with each purchase significantly increasing its generation capability. Dynegy presently owns or controls about 27,000 MW of generating capacity in the United States, 26 gas-processing plants and 14,000 miles of pipelines, which are located in geographically competitive areas. The company's goal is to own or control 70,000 MW, or 10 percent of the U.S. market, within the next five years. Sometimes, Dynegy has acquired assets through partnerships with other companies such as NRG Energy, but just as often it has purchased assets independently. Most notably, when Dynegy acquired Illinova in early 2000, the purchase doubled Dynegy's generating capacity. Dynegy is now attempting to replicate this approach in Europe, where it is presently planning to purchase natural-gas storage facilities in England. Dynegy executives have argued tha", "clipped": true, "phrase": "The company's goal is to own or control 70,000 MW, or 10 percent of the U.S. market, within the next five years.", "path": "kean-s/deleted_items/213."}, "s648": {"from": "rahil.jafry@enron.com", "to": "louise.kitchen@enron.com", "subject": "FW:      Dynegy vs. Enron:  A Tale of Two Companies", "text": "an acquisition binge, with each purchase significantly increasing its generation capability. Dynegy presently owns or controls about 27,000 MW of generating capacity in the United States, 26 gas-processing plants and 14,000 miles of pipelines, which are located in geographically competitive areas. The company's goal is to own or control 70,000 MW, or 10 percent of the U.S. market, within the next five years. Sometimes, Dynegy has acquired assets through partnerships with other companies such as NRG Energy, but just as often it has purchased assets independently. Most notably, when Dynegy acquired Illinova in early 2000, the purchase doubled Dynegy's generating capacity. Dynegy is now attempting to replicate this approach in Europe, where it is presently planning to purchase natural-gas storage facilities in England. Dynegy executives have argued tha", "clipped": true, "phrase": "The company's goal is to own or control 70,000 MW, or 10 percent of the U.S. market, within the next five years.", "path": "kitchen-l/_americas/mrha/ooc/26."}, "s89": {"from": "issuealert@scientech.com", "to": "", "subject": "Dynegy Launches B2B Portal and Trading Site", "text": "object-oriented.\nWhile these are important from an IT perspective, as would be important\nto CIO Young, perhaps more importantly is that the site offers an opportunity\nfor Dynegy to support the growth of its businesses and offers a \ncost-efficiency\ntool for customers.\n\nIn August, Dynegy announced that it is acquiring Extant, a privately held,\nColorado-based communications solutions and e-commerce company. Extant's\nprimary line of business is in providing connectivity solutions and broadband\ncapacity to communications businesses and information providers, enabling\nthem to exchange information and provide voice, data and video services\nto their customers. The acquisition will mark Dynegy's first significant\npenetration into the telecommunications sector. While not directly related", "clipped": true, "phrase": "In August, Dynegy announced that it is acquiring Extant, a privately held,\nColorado-based communications solutions and e-commerce company.", "path": "kean-s/all_documents/1627."}, "s90": {"from": "issuealert@scientech.com", "to": "", "subject": "Dynegy Launches B2B Portal and Trading Site", "text": "primary line of business is in providing connectivity solutions and broadband\ncapacity to communications businesses and information providers, enabling\nthem to exchange information and provide voice, data and video services\nto their customers. The acquisition will mark Dynegy's first significant\npenetration into the telecommunications sector. While not directly related\nto this new portal, the acquisition of Extant is relevant because Dynegy\nintends to eventually trade broadband capacity on the site. Extant's broadband\ncapacity will help to support Dynegy's trading of this commodity.\n\nWhile the move to online trading is a smart, and almost inevitable, decision\nfor Dynegy and other energy companies wanting to remain competitive, the", "clipped": true, "phrase": "The acquisition will mark Dynegy's first significant\npenetration into the telecommunications sector.", "path": "kean-s/all_documents/1627."}, "s87": {"from": "issuealert@scientech.com", "to": "", "subject": "Dynegy Launches B2B Portal and Trading Site", "text": "capabilities.\n\nDynegy has been planning a trading operation for some time; its growth\nas a power generator and marketer has been an indication that Dynegy \nrecognized\nnew trends in the energy industry. You may recall that a few months back\nDynegy teamed with Williams in investing $25 million each for minority\nequity stakes in eSpeed, Inc. As noted in SCIENTECH's IssueAlert from Sept.\n25, eSpeed is investing $2 million in TradeSpark, which plans to create\nelectronic marketplaces for natural gas, electricity, coal, weather \nderivatives,\nnitrogen oxide, and sulfur dioxide emission credits. TradeSpark is using\nthe infrastructure and capabilities of eSpeed. In other words, eSpeed is\nTradeSpark's \"enabler.\" As an investor in eSpeed, Dynegy stands to profit", "clipped": true, "phrase": "Dynegy teamed with Williams in investing $25 million each for minority\nequity stakes in eSpeed, Inc.", "path": "kean-s/all_documents/1627."}, "s88": {"from": "issuealert@scientech.com", "to": "", "subject": "Dynegy Launches B2B Portal and Trading Site", "text": "Dynegydirect portal. The second venue is an anonymous, many-to-many format\nin which Dynegy will participate along with multiple buyers and sellers.\nThis operation will take place on TradeSpark, which became operational\nin early October. Dynegy is a participating member in TradeSpark along\nwith Coral Energy, Dominion, Koch Energy Trading, TXU Energy Trading, Williams\nEnergy Marketing and Trading, and Cantor Fitzgerald. Entergy also plans\nto come on board as a member and investor once its venture with Koch closes\nlater this year.\n\nOther key attributes to Dynegydirect, as identified in the announcement\nof the site, are that its \"highly configurable floors will enable customers\nto group products in a customized fashion for convenient access.\" In addition,\ncustomers can trade on multiple floors simultaneously, and the site's \nreal-time", "clipped": true, "phrase": "Dynegy is a participating member in TradeSpark along\nwith Coral Energy, Dominion, Koch Energy Trading, TXU Energy Trading, Williams\nEnergy Marketing and Trading, and Cantor Fitzgerald.", "path": "kean-s/all_documents/1627."}, "s102": {"from": "steven.kean@enron.com", "to": "mark.schroeder@enron.com", "subject": "Enron Mentions", "text": "\"A deal is not in place. We continue to have discussions,\" said Jamey Rootes, \nsenior vice president of marketing for the Texans. \nHowever, another team source -- speaking on condition of anonymity -- \nconfirmed that the $10 million annual figure was accurate and that Reliant \nhad beat out Dynegy, whose chairman, Chuck Watson, owns a minority share of \nthe football team. \nThe Houston stadium is particularly valuable because of its rodeo ties and \nthe likelihood it will host multiple Super Bowls, said Jeff Knapple, \npresident and chief executive officer of Envision, a Los Angeles-based \nconsulting company. Houston is all but guaranteed to host the 2004 Super \nBowl. \nThe Houston Livestock Show and Rodeo draws 2 million visitors a year, and the", "clipped": true, "phrase": "had beat out Dynegy, whose chairman, Chuck Watson, owns a minority share of \nthe football team.", "path": "kean-s/all_documents/1649."}, "s120": {"from": "steven.kean@enron.com", "to": "gary.hickerson@enron.com", "subject": "GlobalCashExchange can establish Enron with corporate CFOs and   treasurers worldwide", "text": "companies, many  of whom have agreed to participate in the Global Cash \nExchange:\n \n\nALCOA  \nALLSTATE INSURANCE COMPANY  \nAT&T  \nBELLSOUTH CORPORATION  \nCHUBB CORPORATION  \nCNF TRANSPORTATION, INC.  \nCOMPAQ  \nCONTINENTAL AIRLINES, INC.  \nDELL  \nDUPONT  \nDYNEGY, INC.\n\nEXIDE CORPORATION\n\nFDX CORPORATION  \nFEDERAL RESERVE BANK OF CHICAGO  \nFORD MOTOR CORPORATION  \nFPL ENERGY, INC\n\nGENZYME CORPORATION  \nGILLETTE COMPANY  \nHALLMARK CARDS INC.  \nHEWLETT-PACKARD  \nINTERNATIONAL PAPER  \nKPMG  \nLOCKHEED MARTIN CORPORATION  \nLITTON INDUSTRIES  \nLUCENT TECHNOLOGIES  \nMASTERCARD  \nMCDONALDS CORPORATION  \nMERCK & COMPANY  \nMERISEL, INC.  \nMICROSOFT CORPORATION  \nMOTOROLA, INC.  \nNORDSON CORPORATION  \nORACLE CORPORATION  \nPECO ENERGY COMPANY  \nPEOPLESOFT", "clipped": true, "phrase": "DYNEGY, INC.\n\nEXIDE CORPORATION\n\nFDX CORPORATION", "path": "kean-s/all_documents/1784."}, "s204": {"from": "kay.mann@enron.com", "to": "kathleen.carnahan@enron.com", "subject": "Re: Dynegy CA", "text": "Fred, do you have an address for Dynegy?  Kay, do you want me to do a draft \nof this?\n\nK-\n\nFred Mitro@ECT\n02/01/2001 02:32 PM\nTo: Kay Mann/Corp/Enron@Enron\ncc: Ben Jacoby/HOU/ECT@ECT, Chris Booth/NA/Enron@Enron, Kathleen \nCarnahan/NA/Enron@Enron \n\nSubject: Dynegy CA\n\nKay:\n\nI talked with Gary Hickey at Dynegy this afternoon regarding their interest \nin doing a deal involving one or both of the following:\n\n 1.  Purchasing 100% of the member interests of an ENA development project,\n\n 2.  A transaction involving generation equipment (7EA, W 501D5A, or LM 6000)\n\nGary is a V.P. over Dynegy's eastern U.S. and International Development \ngroup.  He indicated that their preferred areas for a development project \ntransaction would be in the SERC, PJM, and Illinois regions.  I described the", "clipped": true, "phrase": "I talked with Gary Hickey at Dynegy this afternoon regarding their interest", "path": "mann-k/_sent_mail/1792."}, "s205": {"from": "kay.mann@enron.com", "to": "kathleen.carnahan@enron.com", "subject": "Re: Dynegy CA", "text": "in doing a deal involving one or both of the following:\n\n 1.  Purchasing 100% of the member interests of an ENA development project,\n\n 2.  A transaction involving generation equipment (7EA, W 501D5A, or LM 6000)\n\nGary is a V.P. over Dynegy's eastern U.S. and International Development \ngroup.  He indicated that their preferred areas for a development project \ntransaction would be in the SERC, PJM, and Illinois regions.  I described the \nequipment available for transactions and Gary said that he would take a few \ndays to look into it and get back to me.\n\nPlease draft a CA that would encompass these potential transaction \nstructures.  I am sure that Enron and Dynegy must have a form of CA that has \nbeen agreed upon in the past.  Let's see if we can use that form with only \nthe minimal required changes.  Please forward me the draft so that I can get", "clipped": true, "phrase": "He indicated that their preferred areas for a development project \ntransaction would be in the SERC, PJM, and Illinois regions.", "path": "mann-k/_sent_mail/1792."}, "s206": {"from": "kay.mann@enron.com", "to": "kathleen.carnahan@enron.com", "subject": "Re: Dynegy CA", "text": "Gary is a V.P. over Dynegy's eastern U.S. and International Development \ngroup.  He indicated that their preferred areas for a development project \ntransaction would be in the SERC, PJM, and Illinois regions.  I described the \nequipment available for transactions and Gary said that he would take a few \ndays to look into it and get back to me.\n\nPlease draft a CA that would encompass these potential transaction \nstructures.  I am sure that Enron and Dynegy must have a form of CA that has \nbeen agreed upon in the past.  Let's see if we can use that form with only \nthe minimal required changes.  Please forward me the draft so that I can get \nit to Gary by Monday.  I am cc Kathleen as she is looking into the \nConstellation Power CA for you.\n\nThanks,\nFred", "clipped": true, "phrase": "Gary said that he would take a few \ndays to look into it and get back to me.", "path": "mann-k/_sent_mail/1792."}, "s417": {"from": "henry.means@enron.com", "to": "", "subject": "Enron Mentions - 05/03/01", "text": "processing plants and pipelines, particularly in the mid-Continent region. \nThe idea now is to increase Dynegy's so-called merchant power capacity -- or \nthe electricity it sells wholesale to anyone who needs it -- to 70,000 \nmegawatts by 2004 through acquisitions, new construction and asset management \nagreements. \nAs a result, Watson has become what some are calling \"an acquisitions hound.\" \nHe's already acquired some facilities. On Jan. 31, Dynegy completed the \npurchase of two power plants in the Hudson River Valley -- the 1,200-megawatt \nRoseton power plant in Newburgh, N.Y., and the 500-megawatt Danskammer plant \nnearby -- from various area utilities for $376 million. Banc of America \nSecurities llc advised Dynegy on both purchases.", "clipped": true, "phrase": "megawatts by 2004 through acquisitions, new construction and asset management", "path": "kean-s/all_documents/5039."}, "s415": {"from": "henry.means@enron.com", "to": "", "subject": "Enron Mentions - 05/03/01", "text": "Those moves increased Dynegy's float to more than 60% of the shares \noutstanding, which led money managers to flood in. The company's market \ncapitalization has since tripled to $18.3 billion. \nOperationally, in its effort to focus on power generation, trading and \nmarketing, Dynegy has been dumping some of its mid-stream assets, such as \nprocessing plants and pipelines, particularly in the mid-Continent region. \nThe idea now is to increase Dynegy's so-called merchant power capacity -- or \nthe electricity it sells wholesale to anyone who needs it -- to 70,000 \nmegawatts by 2004 through acquisitions, new construction and asset management \nagreements. \nAs a result, Watson has become what some are calling \"an acquisitions hound.\"", "clipped": true, "phrase": "marketing, Dynegy has been dumping some of its mid-stream assets, such as", "path": "kean-s/all_documents/5039."}, "s426": {"from": "henry.means@enron.com", "to": "", "subject": "Enron Mentions - 05/03/01", "text": "acquired by Dynegy now exceeds the total capacity added through the merger. \nThat includes 1,160 megawatts of new natural gas-fired generation facilities \nin Georgia, Kentucky and Louisiana that are expected to begin commercial \noperation by June -- just in time for summer. \nLike its cross-town rival, Enron Corp., Dynegy has also expanded via \nacquisitions into broadband telecommunications. (Dynegy also competes with \nHouston-based Reliant Energy and Charlotte, N.C.-based Duke Energy.) \nBoth Enron and Dynegy see a big opportunity in broadband, given that there \nare few other suppliers and that managing its movement is akin to what's \ninvolved with natural gas or electricity. \nIn August, Dynegy announced it was acquiring Aurora, Colo.-based Extant Inc.,", "clipped": true, "phrase": "Like its cross-town rival, Enron Corp., Dynegy has also expanded via", "path": "kean-s/all_documents/5039."}, "s428": {"from": "henry.means@enron.com", "to": "", "subject": "Enron Mentions - 05/03/01", "text": "Houston-based Reliant Energy and Charlotte, N.C.-based Duke Energy.) \nBoth Enron and Dynegy see a big opportunity in broadband, given that there \nare few other suppliers and that managing its movement is akin to what's \ninvolved with natural gas or electricity. \nIn August, Dynegy announced it was acquiring Aurora, Colo.-based Extant Inc., \na privately held developer of telecom solutions, for $188 million in cash and \nstock. It completed the deal in September. Then in November, Dynegy announced \nit was acquiring privately held Iaxis Ltd., a London-based telecom that owned \nand operated an 8,750-mile fiber-optic network throughout Europe, for almost \n$200 million. Dynegy completed the deal in March. \nDynegy is now developing a 20,000-mile fiber-optic cable network in the U.S.", "clipped": true, "phrase": "In August, Dynegy announced it was acquiring Aurora, Colo.-based Extant Inc.,", "path": "kean-s/all_documents/5039."}, "s429": {"from": "henry.means@enron.com", "to": "", "subject": "Enron Mentions - 05/03/01", "text": "Both Enron and Dynegy see a big opportunity in broadband, given that there \nare few other suppliers and that managing its movement is akin to what's \ninvolved with natural gas or electricity. \nIn August, Dynegy announced it was acquiring Aurora, Colo.-based Extant Inc., \na privately held developer of telecom solutions, for $188 million in cash and \nstock. It completed the deal in September. Then in November, Dynegy announced \nit was acquiring privately held Iaxis Ltd., a London-based telecom that owned \nand operated an 8,750-mile fiber-optic network throughout Europe, for almost \n$200 million. Dynegy completed the deal in March. \nDynegy is now developing a 20,000-mile fiber-optic cable network in the U.S. \nthat it will link to Iaxis' network in Europe. It hopes its broadband unit,", "clipped": true, "phrase": "a privately held developer of telecom solutions, for $188 million in cash and", "path": "kean-s/all_documents/5039."}, "s430": {"from": "henry.means@enron.com", "to": "", "subject": "Enron Mentions - 05/03/01", "text": "involved with natural gas or electricity. \nIn August, Dynegy announced it was acquiring Aurora, Colo.-based Extant Inc., \na privately held developer of telecom solutions, for $188 million in cash and \nstock. It completed the deal in September. Then in November, Dynegy announced \nit was acquiring privately held Iaxis Ltd., a London-based telecom that owned \nand operated an 8,750-mile fiber-optic network throughout Europe, for almost \n$200 million. Dynegy completed the deal in March. \nDynegy is now developing a 20,000-mile fiber-optic cable network in the U.S. \nthat it will link to Iaxis' network in Europe. It hopes its broadband unit, \nwhich lost $11.6 million in the first quarter, will be profitable by the \nsecond half of 2002.", "clipped": true, "phrase": "it was acquiring privately held Iaxis Ltd., a London-based telecom that owned", "path": "kean-s/all_documents/5039."}, "s431": {"from": "henry.means@enron.com", "to": "", "subject": "Enron Mentions - 05/03/01", "text": "stock. It completed the deal in September. Then in November, Dynegy announced \nit was acquiring privately held Iaxis Ltd., a London-based telecom that owned \nand operated an 8,750-mile fiber-optic network throughout Europe, for almost \n$200 million. Dynegy completed the deal in March. \nDynegy is now developing a 20,000-mile fiber-optic cable network in the U.S. \nthat it will link to Iaxis' network in Europe. It hopes its broadband unit, \nwhich lost $11.6 million in the first quarter, will be profitable by the \nsecond half of 2002. \nStill, Dynegy has differentiated itself as the \"anti-Enron\" because, among \nother things, it continues to buy power plants rather than sell them. (Enron,", "clipped": true, "phrase": "$200 million. Dynegy completed the deal in March.", "path": "kean-s/all_documents/5039."}, "s432": {"from": "henry.means@enron.com", "to": "", "subject": "Enron Mentions - 05/03/01", "text": "stock. It completed the deal in September. Then in November, Dynegy announced \nit was acquiring privately held Iaxis Ltd., a London-based telecom that owned \nand operated an 8,750-mile fiber-optic network throughout Europe, for almost \n$200 million. Dynegy completed the deal in March. \nDynegy is now developing a 20,000-mile fiber-optic cable network in the U.S. \nthat it will link to Iaxis' network in Europe. It hopes its broadband unit, \nwhich lost $11.6 million in the first quarter, will be profitable by the \nsecond half of 2002. \nStill, Dynegy has differentiated itself as the \"anti-Enron\" because, among \nother things, it continues to buy power plants rather than sell them. (Enron, \nmeanwhile, has been trying to dump its hard assets, such as Portland General \nElectric in Portland, Ore.)", "clipped": true, "phrase": "Dynegy is now developing a 20,000-mile fiber-optic cable network in the U.S.", "path": "kean-s/all_documents/5039."}, "s433": {"from": "henry.means@enron.com", "to": "", "subject": "Enron Mentions - 05/03/01", "text": "and operated an 8,750-mile fiber-optic network throughout Europe, for almost \n$200 million. Dynegy completed the deal in March. \nDynegy is now developing a 20,000-mile fiber-optic cable network in the U.S. \nthat it will link to Iaxis' network in Europe. It hopes its broadband unit, \nwhich lost $11.6 million in the first quarter, will be profitable by the \nsecond half of 2002. \nStill, Dynegy has differentiated itself as the \"anti-Enron\" because, among \nother things, it continues to buy power plants rather than sell them. (Enron, \nmeanwhile, has been trying to dump its hard assets, such as Portland General \nElectric in Portland, Ore.) \nEnron CEO Jeff Skilling -- a polished former McKinsey & Co. consultant -- \njust wants to be a go-between, and not just in energy, but in broadband, pulp", "clipped": true, "phrase": "which lost $11.6 million in the first quarter, will be profitable by the", "path": "kean-s/all_documents/5039."}, "s418": {"from": "henry.means@enron.com", "to": "", "subject": "Enron Mentions - 05/03/01", "text": "agreements. \nAs a result, Watson has become what some are calling \"an acquisitions hound.\" \nHe's already acquired some facilities. On Jan. 31, Dynegy completed the \npurchase of two power plants in the Hudson River Valley -- the 1,200-megawatt \nRoseton power plant in Newburgh, N.Y., and the 500-megawatt Danskammer plant \nnearby -- from various area utilities for $376 million. Banc of America \nSecurities llc advised Dynegy on both purchases. \nDynegy has had trouble picking up other power plants, however. Witness the \ndeal it announced Nov. 20 to acquire 1,330 megawatts worth of \nelectricity-generating assets in Nevada from Reno-based Sierra Pacific \nResources for $634 million. The deal got scotched April 18 when Nevada", "clipped": true, "phrase": "Roseton power plant in Newburgh, N.Y., and the 500-megawatt Danskammer plant", "path": "kean-s/all_documents/5039."}, "s419": {"from": "henry.means@enron.com", "to": "", "subject": "Enron Mentions - 05/03/01", "text": "He's already acquired some facilities. On Jan. 31, Dynegy completed the \npurchase of two power plants in the Hudson River Valley -- the 1,200-megawatt \nRoseton power plant in Newburgh, N.Y., and the 500-megawatt Danskammer plant \nnearby -- from various area utilities for $376 million. Banc of America \nSecurities llc advised Dynegy on both purchases. \nDynegy has had trouble picking up other power plants, however. Witness the \ndeal it announced Nov. 20 to acquire 1,330 megawatts worth of \nelectricity-generating assets in Nevada from Reno-based Sierra Pacific \nResources for $634 million. The deal got scotched April 18 when Nevada \nregulators -- spooked by its next-door neighbor's power crisis -- repealed", "clipped": true, "phrase": "nearby -- from various area utilities for $376 million. Banc of America", "path": "kean-s/all_documents/5039."}, "s420": {"from": "henry.means@enron.com", "to": "", "subject": "Enron Mentions - 05/03/01", "text": "purchase of two power plants in the Hudson River Valley -- the 1,200-megawatt \nRoseton power plant in Newburgh, N.Y., and the 500-megawatt Danskammer plant \nnearby -- from various area utilities for $376 million. Banc of America \nSecurities llc advised Dynegy on both purchases. \nDynegy has had trouble picking up other power plants, however. Witness the \ndeal it announced Nov. 20 to acquire 1,330 megawatts worth of \nelectricity-generating assets in Nevada from Reno-based Sierra Pacific \nResources for $634 million. The deal got scotched April 18 when Nevada \nregulators -- spooked by its next-door neighbor's power crisis -- repealed \nthe state's electricity deregulation plan and put a moratorium on all power", "clipped": true, "phrase": "Securities llc advised Dynegy on both purchases.", "path": "kean-s/all_documents/5039."}, "s421": {"from": "henry.means@enron.com", "to": "", "subject": "Enron Mentions - 05/03/01", "text": "nearby -- from various area utilities for $376 million. Banc of America \nSecurities llc advised Dynegy on both purchases. \nDynegy has had trouble picking up other power plants, however. Witness the \ndeal it announced Nov. 20 to acquire 1,330 megawatts worth of \nelectricity-generating assets in Nevada from Reno-based Sierra Pacific \nResources for $634 million. The deal got scotched April 18 when Nevada \nregulators -- spooked by its next-door neighbor's power crisis -- repealed \nthe state's electricity deregulation plan and put a moratorium on all power \nplant sales in the state. (Dynegy estimated the acquisition would have added \n5 cents per share to 2001 earnings.) \nStill, since the Illinova merger, the total generating capacity built or", "clipped": true, "phrase": "electricity-generating assets in Nevada from Reno-based Sierra Pacific", "path": "kean-s/all_documents/5039."}, "s422": {"from": "henry.means@enron.com", "to": "", "subject": "Enron Mentions - 05/03/01", "text": "Securities llc advised Dynegy on both purchases. \nDynegy has had trouble picking up other power plants, however. Witness the \ndeal it announced Nov. 20 to acquire 1,330 megawatts worth of \nelectricity-generating assets in Nevada from Reno-based Sierra Pacific \nResources for $634 million. The deal got scotched April 18 when Nevada \nregulators -- spooked by its next-door neighbor's power crisis -- repealed \nthe state's electricity deregulation plan and put a moratorium on all power \nplant sales in the state. (Dynegy estimated the acquisition would have added \n5 cents per share to 2001 earnings.) \nStill, since the Illinova merger, the total generating capacity built or \nacquired by Dynegy now exceeds the total capacity added through the merger.", "clipped": true, "phrase": "Resources for $634 million. The deal got scotched April 18 when Nevada", "path": "kean-s/all_documents/5039."}, "s423": {"from": "henry.means@enron.com", "to": "", "subject": "Enron Mentions - 05/03/01", "text": "regulators -- spooked by its next-door neighbor's power crisis -- repealed \nthe state's electricity deregulation plan and put a moratorium on all power \nplant sales in the state. (Dynegy estimated the acquisition would have added \n5 cents per share to 2001 earnings.) \nStill, since the Illinova merger, the total generating capacity built or \nacquired by Dynegy now exceeds the total capacity added through the merger. \nThat includes 1,160 megawatts of new natural gas-fired generation facilities \nin Georgia, Kentucky and Louisiana that are expected to begin commercial \noperation by June -- just in time for summer. \nLike its cross-town rival, Enron Corp., Dynegy has also expanded via", "clipped": true, "phrase": "5 cents per share to 2001 earnings.)", "path": "kean-s/all_documents/5039."}, "s440": {"from": "henry.means@enron.com", "to": "", "subject": "Enron Mentions - 05/03/01", "text": "rating action was taken after a review of NBP's recent acquisitions and \nlong-term business plan. A combination of debt and equity at NBP was used to \nfund the recent acquisitions of Bear Paw, LLC, Midwestern Gas Transmission \nCompany, and Dynegy Canada midstream assets. An additional $125-150 million \nof equity is expected to be sold in the coming months to pay down short-term \ndebt and complete the permanent financing.\nThe improvement in Rating Outlook primarily reflects NBP's demonstrated \ncommitment to undertake conservative long-term financing and operating \nstrategies. Future acquisitions at the partnership level are expected to be \nfinanced 50/50, debt/equity so as to maintain financial flexibility and a", "clipped": true, "phrase": "Company, and Dynegy Canada midstream assets.", "path": "kean-s/all_documents/5033."}, "s468": {"from": "ann.schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "Meanwhile, the next meeting of the renegotiating panel has been convened on \nMay 29.\n\nCopyright , 2000 Dow Jones & Company, Inc. All Rights Reserved. \n\n\t\t\n\t\t\n\t\t\n\n\t\t\n\t\tCOMPANIES & FINANCE THE AMERICAS: Dynegy on the lookout for deals \nFinancial Times; May 24, 2001\nBy JULIE EARLE\n\n\t\tDynegy, the US gas and electricity supplier, has told analysts it will make \nlarge imminent acquisitions or mergers in the US and overseas. \n\t\tThe company told analysts at a conference in Texas on Tuesday that it was \nkeen to make mergers and acquisitions in the near future. \n\t\tThe deals could include generation assets, gas pipeline and storage \ninfrastructure, entire utilities and communication assets. Dynegy's customers \nare in North America, the UK and elsewhere in Europe.", "clipped": true, "phrase": "Dynegy, the US gas and electricity supplier, has told analysts it will make", "path": "kean-s/all_documents/4771."}, "s469": {"from": "ann.schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "By JULIE EARLE\n\n\t\tDynegy, the US gas and electricity supplier, has told analysts it will make \nlarge imminent acquisitions or mergers in the US and overseas. \n\t\tThe company told analysts at a conference in Texas on Tuesday that it was \nkeen to make mergers and acquisitions in the near future. \n\t\tThe deals could include generation assets, gas pipeline and storage \ninfrastructure, entire utilities and communication assets. Dynegy's customers \nare in North America, the UK and elsewhere in Europe. \n\t\tDynegy, which is Houston-based, was tight-lipped yesterday about any possible \ndeals, saying only that it was \"always looking for opportunities to enhance \nshareholder value\". \n\t\tThe company told analysts it had an active oil, liquids, gas and power group", "clipped": true, "phrase": "The deals could include generation assets, gas pipeline and storage", "path": "kean-s/all_documents/4771."}, "s470": {"from": "ann.schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "remained high, despite an oversupplied market. \n\t\tJay Yannello, an analyst for UBS Warburg in New York, said Dynegy could \nleverage aggressively any assets within its network infrastructure. \n\t\t\"We would not rule out substantial transactions,\" he said. \n\t\tDynegy told analysts it was looking for 10 per cent of the US power market \nand an ongoing 15 per cent share of the US gas market. \n\t\tDynegy and its competitors, including Enron and El Paso, have been recording \nbig profits in the past two quarters, and and have come under fire from \nregulators over the California power crisis. \n\t\tCopyright: The Financial Times Limited", "clipped": true, "phrase": "Dynegy told analysts it was looking for 10 per cent of the US power market", "path": "kean-s/all_documents/4771."}, "s471": {"from": "ann.schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "deals, saying only that it was \"always looking for opportunities to enhance \nshareholder value\". \n\t\tThe company told analysts it had an active oil, liquids, gas and power group \nfully integrated with its US operations, and was \"poised to exploit \nopportunities\". \n\t\tIt said it would like to own more European assets, but added that prices \nremained high, despite an oversupplied market. \n\t\tJay Yannello, an analyst for UBS Warburg in New York, said Dynegy could \nleverage aggressively any assets within its network infrastructure. \n\t\t\"We would not rule out substantial transactions,\" he said. \n\t\tDynegy told analysts it was looking for 10 per cent of the US power market \nand an ongoing 15 per cent share of the US gas market.", "clipped": true, "phrase": "It said it would like to own more European assets, but added that prices", "path": "kean-s/all_documents/4771."}, "s537": {"from": "ann.schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "the European Commission, the executive arm of the European Union. \nEnergy companies that have ventured into the fiber-optic business by building \ninfrastructure and/or through bandwidth trade, include Williams Cos., El Paso \nCorp.., Enron Corp. ENE.N, Dynegy Inc., Duke Energy, Consolidated Edison Inc. \nand Montana Power Co. \nIn March 2000, Montana Power announced plans to divest its energy business \nand invest the proceeds into its broadband and telecommunications unit Touch \nAmerica.\n\nCopyright , 2000 Dow Jones & Company, Inc. All Rights Reserved. \n\nUS GAO Demands Cheney Provide Data On Energy Meetings\n\n07/18/2001\nDow Jones International News\n(Copyright (c) 2001, Dow Jones & Company, Inc.)", "clipped": true, "phrase": "Corp.., Enron Corp. ENE.N, Dynegy Inc., Duke Energy, Consolidated Edison Inc.", "path": "kean-s/all_documents/8740."}, "s539": {"from": "ann.schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "Andrews said Sempra filed around two months ago for patents on its fiber-optic technology with the U.S. Patent Office and Trademark Office and the European Commission, the executive arm of the European Union. \nEnergy companies that have ventured into the fiber-optic business by building infrastructure and/or through bandwidth trade, include Williams Cos., El Paso Corp.., Enron Corp. ENE.N, Dynegy Inc., Duke Energy, Consolidated Edison Inc. and Montana Power Co. \nIn March 2000, Montana Power announced plans to divest its energy business and invest the proceeds into its broadband and telecommunications unit Touch America.\n\nCopyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved. \t\n\nUS GAO Demands Cheney Provide Data On Energy Meetings\n\n07/18/2001\nDow Jones International News\n(Copyright (c) 2001, Dow Jones & Company, Inc.)", "clipped": true, "phrase": "Energy companies that have ventured into the fiber-optic business by building infrastructure and/or through bandwidth trade, include Williams Cos., El Paso Corp.., Enron Corp. ENE.N, Dynegy Inc.", "path": "kean-s/inbox/enron_mentions/4."}, "s547": {"from": "f..calger@enron.com", "to": "louise.kitchen@enron.com", "subject": "Longview Bids - Confidential", "text": "McCook Metals - \t$20MM (this is an ongoing, slow negotiation)\nPPL Global - \t\t$15MM\nReliant\t\t\t$10MM\n\nIndicated that they will submit bid later today/over weekend/early next week:\nCalpine\nAllegheny\nAES\nSempra\nWilliams\nEl Paso\nNRG\nDynegy\n\nI expect some of these wont show up.\n\nOut for various reasons:\nMirant\nConstellation\nEntergy\nFPL\nPG&E\nOrion\nPSEG\nTractabel\n\nIf we end up with 5-6 positive bids, even if they are non-binding, I think it supports risking additional capital to get this project fully developed/sold (DASH in process).  \n\nOne interesting note: Allegheny wants to see our offer.  If we have several reasonable bids ($10-$20), it might make sense to offer a high outlier.", "clipped": true, "phrase": "Indicated that they will submit bid later today/over weekend/early next week:\nCalpine\nAllegheny\nAES\nSempra\nWilliams\nEl Paso\nNRG\nDynegy", "path": "kitchen-l/_americas/portland/65."}, "s582": {"from": "rahil.jafry@enron.com", "to": "louise.kitchen@enron.com", "subject": "Fw: Rahil Jafry: USA:   UPDATE 4-Dynegy hits upper end of Q3   earnings targets.", "text": "maintained a fourth-quarter forecast of 40 cents to 41 cents a share and a\n2002 forecast of $2.50 to $2.60 share. All are in line with analysts'\nestimates.\n\nChief Financial Officer Robert Doty said that the company was on track to\nachieve 20 percent to 25 percent earnings growth next year.\n\n\"Our long-term strategy to focus on marketing and trading around physical\nassets supports earnings sustainability,\" Chairman and Chief Executive Officer\nChuck Watson said in a statement.\n\n\"I would say the company's ability to continuously post strong earnings growth\nillustrates their ability to successfully navigate through wildly various\noperating environments,\" UBS Warburg analyst Jay Yannello said. \"This company\nhas rapidly emerged as the leading player in its field.\"\n\nWhile stocks in its sector have been hammered sharply over the past six\nmonths, Dynegy has been a better performer than similar companies. Dynegy's", "clipped": true, "phrase": "\"Our long-term strategy to focus on marketing and trading around physical\nassets supports earnings sustainability,\" Chairman and Chief Executive Officer\nChuck Watson said in a statement.", "path": "kitchen-l/_americas/east_power/32."}, "s630": {"from": "issuealert@scientech.com", "to": "issuealerthtml@listserv.scientech.com", "subject": "Dynegy vs. Enron:  A Tale of Two Companies", "text": "Dynegy's approach to the market is crystal clear and radically different from Enron's. In the words of CEO Chuck Watson, \"Dynegy's long-term strategy is to focus on marketing and trading around physical assets, which supports earnings sustainability.\" Ever since going public in 1995, Dynegy has been on an acquisition binge, with each purchase significantly increasing its generation capability. Dynegy presently owns or controls about 27,000 MW of generating capacity in the United States, 26 gas-processing plants and 14,000 miles of pipelines, which are located in geographically competitive areas. The company's goal is to own or control 70,000 MW, or 10 percent of the U.S. market, within the ne", "clipped": true, "phrase": "\"Dynegy's long-term strategy is to focus on marketing and trading around physical assets, which supports earnings sustainability.\"", "path": "kean-s/deleted_items/213."}, "s646": {"from": "rahil.jafry@enron.com", "to": "louise.kitchen@enron.com", "subject": "FW:      Dynegy vs. Enron:  A Tale of Two Companies", "text": "Dynegy's approach to the market is crystal clear and radically different from Enron's. In the words of CEO Chuck Watson, \"Dynegy's long-term strategy is to focus on marketing and trading around physical assets, which supports earnings sustainability.\" Ever since going public in 1995, Dynegy has been on an acquisition binge, with each purchase significantly increasing its generation capability. Dynegy presently owns or controls about 27,000 MW of generating capacity in the United States, 26 gas-processing plants and 14,000 miles of pipelines, which are located in geographically competitive areas. The company's goal is to own or control 70,000 MW, or 10 percent of the U.S. market, within the ne", "clipped": true, "phrase": "In the words of CEO Chuck Watson, \"Dynegy's long-term strategy is to focus on marketing and trading around physical assets, which supports earnings sustainability.\"", "path": "kitchen-l/_americas/mrha/ooc/26."}, "s593": {"from": "rahil.jafry@enron.com", "to": "louise.kitchen@enron.com", "subject": "Fw: Rahil Jafry: USA:   UPDATE 4-Dynegy hits upper end of Q3   earnings targets.", "text": "markets.\n\nOne nominally lower performer this year was Illinois Power, Dynegy's regulated\ntransmission and distribution subsidiary. It reported recurring net income of\n$26 million versus $27 million a year earlier. Dynegy attributed the smaller\nfigure to a reduced industrial load.\n\nThe company's new communications segment took a $15 million loss for the\nquarter, mostly from costs associated with developing its 16,000-mile network.\nThe network reaches 44 U.S. cities and is expected to be completed in the\nfourth quarter.\n\nDynegy expects that segment to record a fourth-quarter loss of nil to 3 cents\na share and a full-year loss of 13 cents to 16 cents a share. For 2002, the\ncompany expects the unit to be at breakeven by the end of the year.\n(additional reporting by Carolyn Koo, New York Newsroom).\n\nFolder Name: Rahil Jafry\nRelevance Score on Scale of 100: 83\n\n______________________________________________________________________", "clipped": true, "phrase": "The company's new communications segment took a $15 million loss for the\nquarter, mostly from costs associated with developing its 16,000-mile network.\nThe network reaches 44 U.S. cities and is expected to be completed in the\nfourth quarter.", "path": "kitchen-l/_americas/east_power/32."}, "s607": {"from": "issuealert@scientech.com", "to": "issuealerthtml@listserv.scientech.com", "subject": "Caminus and Altra Energy Partner to Create Full-Service   Trading             Software Provider", "text": "/16/01 IssueAlert on Dynegy: In its 3Q 2001 earnings statement, Dynegy reported that net income of its transmission and distribution company Illinois Power was $26 million, versus $27 million in 3Q 2000. In the 10/16 column, we incorrectly stated that Illinois Power had taken a loss of $15 million. The loss of $15 million was reported by Dynegy's telecommunications segment, which was duly noted in the article. We apologize for any confusion this error might have caused. \n\n  _____  \n\nAn archive list of previous IssueAlerts is available at\nwww.scientech.com <http://secure.scientech.com/issuealert/> \n\nWe encourage our readers to contact us with their comments. We look forward to hearing from you. Nancy Spring  <mailto:nspring@scientech.com>", "clipped": true, "phrase": "The loss of $15 million was reported by Dynegy's telecommunications segment, which was duly noted in the article.", "path": "kean-s/deleted_items/42."}, "s622": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "\"If we can get to (income of) $10 million per month - that's what we need really,\" he said. \"If we can get there by the end of next year, I'll be very happy. I think by '03, this market will have righted itself.\" \nWatson believes telecommunications has the potential to transform Dynegy. \n\"Dynegy is an energy company,\" he said. \"Our energy merchant company is doing very well and business is growing like a weed...(Telecommunications) is not our core business by any stretch right now. But I'd love to be able to tell you it's going to be. I'd love to be able to tell you it is someday.\" \n-By Erwin Seba, Dow Jones Newswires; 713-547-XXXX; erwin.seba@dowjones.com\n\nCopyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved. \t\n\nUK: Jobs in base metals down but definitely not out.\nBy Amanda Cooper\n\n10/19/2001\nReuters English News Service", "clipped": true, "phrase": "\"Dynegy is an energy company,\" he said. \"Our energy merchant company is doing very well and business is growing like a weed...", "path": "kean-s/deleted_items/106."}, "s618": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "Dynegy's bandwidth trading desk is staffed by four people. For the past several months, they have been buying bandwidth for Dynegy's customers. The goal has been to build a customer base. \"We're looking at being an intermediary, and really looking at the same customers that we feed energy today.\" \nSince Dynegy lit its 16,000 route-mile network two weeks ago, the trading desk has been trying to fill the company's network instead of buying bandwidth from others. \"I'm trying to find enterprises that have communication requirements,\" Watson said. \nHe pointed to ChevronTexaco Corp. (CHX) as a target for those services. \"They have offices that never talked to each before,\" he said. \"Now they've got to talk to each other. I would say that the credit quality of Chevron and Texaco is pretty reasonable.\"", "clipped": true, "phrase": "Since Dynegy lit its 16,000 route-mile network two weeks ago, the trading desk has been trying to fill the company's network instead of buying bandwidth from others.", "path": "kean-s/deleted_items/106."}, "s620": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "ChevronTexaco owns about 26% of Dynegy, said a Dynegy spokesman. Dynegy and ChevronTexaco already have a large energy trading relationship which includes natural gas and gas liquids. \nThe average burn rate of Dynegy Global Communications, the corporation's telecommunications unit, is $20 million to $25 million a quarter, Watson said. In the third quarter, it lost $15 million, down from $20 million in the second quarter. \nDynegy predicts that Global Communications will break even or record a small loss before interest and taxes in the fourth quarter. \n\"If we can get to (income of) $10 million per month - that's what we need really,\" he said. \"If we can get there by the end of next year, I'll be very happy. I think by '03, this market will have righted itself.\"", "clipped": true, "phrase": "The average burn rate of Dynegy Global Communications, the corporation's telecommunications unit, is $20 million to $25 million a quarter, Watson said.", "path": "kean-s/deleted_items/106."}, "s621": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "The average burn rate of Dynegy Global Communications, the corporation's telecommunications unit, is $20 million to $25 million a quarter, Watson said. In the third quarter, it lost $15 million, down from $20 million in the second quarter. \nDynegy predicts that Global Communications will break even or record a small loss before interest and taxes in the fourth quarter. \n\"If we can get to (income of) $10 million per month - that's what we need really,\" he said. \"If we can get there by the end of next year, I'll be very happy. I think by '03, this market will have righted itself.\" \nWatson believes telecommunications has the potential to transform Dynegy.", "clipped": true, "phrase": "Dynegy predicts that Global Communications will break even or record a small loss before interest and taxes in the fourth quarter.", "path": "kean-s/deleted_items/106."}, "s615": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "\"They're trying to find trading partners for broadband,\" Watson said. \"That's going to be tough to do.\" Dynegy isn't concentrating on bandwidth trading because there isn't \"a realistic model\" for it yet, he said. \"I said two years ago it was at least two years away. I still think it's probably at least two years away, before we actually call it a trading commodity.\" \nThe metro-area infrastructure that Dynegy and other companies are building will create connections between networks, which are needed in order to trade bandwidth as a commodity, Watson said.", "clipped": true, "phrase": "Dynegy isn't concentrating on bandwidth trading because there isn't \"a realistic model\" for it yet, he said.", "path": "kean-s/deleted_items/106."}, "s616": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "It's unfortunate that Enron's model for bandwidth as a traded commodity is the dominant image for the entire market, Watson said. Dynegy's model includes telecom contracts, negotiated directly with customers for long-term supply of bandwidth. \nDynegy's bandwidth trading desk is staffed by four people. For the past several months, they have been buying bandwidth for Dynegy's customers. The goal has been to build a customer base. \"We're looking at being an intermediary, and really looking at the same customers that we feed energy today.\"", "clipped": true, "phrase": "Dynegy's model includes telecom contracts, negotiated directly with customers for long-term supply of bandwidth.", "path": "kean-s/deleted_items/106."}, "s617": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "It's unfortunate that Enron's model for bandwidth as a traded commodity is the dominant image for the entire market, Watson said. Dynegy's model includes telecom contracts, negotiated directly with customers for long-term supply of bandwidth. \nDynegy's bandwidth trading desk is staffed by four people. For the past several months, they have been buying bandwidth for Dynegy's customers. The goal has been to build a customer base. \"We're looking at being an intermediary, and really looking at the same customers that we feed energy today.\" \nSince Dynegy lit its 16,000 route-mile network two weeks ago, the trading desk has been trying to fill the company's network instead of buying bandwidth from others. \"I'm trying to find enterprises that have communication requirements,\" Watson said.", "clipped": true, "phrase": "Dynegy's bandwidth trading desk is staffed by four people. For the past several months, they have been buying bandwidth for Dynegy's customers.", "path": "kean-s/deleted_items/106."}, "s613": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "Copyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved. \t\n\nDynegy Chief: Bandwidth Growth Won't Wait For Trading\nBy Erwin Seba\nOf DOW JONES NEWSWIRES\n\n10/19/2001\nDow Jones Energy Service\n(Copyright (c) 2001, Dow Jones & Company, Inc.)\n\nHOUSTON -(Dow Jones)- Dynegy Inc. (DYN) Chairman and Chief Executive Chuck Watson understands why some think he is mistaken in believing the bandwidth sector has reached its bottom and is recovering. \nBut those critics don't understand his bandwidth business, Watson told Dow Jones Newswires in an exclusive interview. They don't understand how the business world has changed since the Sept. 11 terrorist attacks, he said.\nIn announcing third-quarter results for Dynegy Monday, Watson said the bottom in bandwidth demand was reached on Sept. 11 and that the market would begin recovery in the fourth quarter of this year.", "clipped": true, "phrase": "HOUSTON -(Dow Jones)- Dynegy Inc. (DYN) Chairman and Chief Executive Chuck Watson understands why some think he is mistaken in believing the bandwidth sector has reached its bottom and is recovering.", "path": "kean-s/deleted_items/106."}, "s614": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "But those critics don't understand his bandwidth business, Watson told Dow Jones Newswires in an exclusive interview. They don't understand how the business world has changed since the Sept. 11 terrorist attacks, he said.\nIn announcing third-quarter results for Dynegy Monday, Watson said the bottom in bandwidth demand was reached on Sept. 11 and that the market would begin recovery in the fourth quarter of this year. \nBusinesses are reassessing where to store data and how to distribute operations to avoid losing everything in a sudden catastrophic event, be it of natural or human origin. That's what's driving the recovery, he said. \nAlso, businesses will avoid travel, he said, relying instead on video conferencing.", "clipped": true, "phrase": "In announcing third-quarter results for Dynegy Monday, Watson said the bottom in bandwidth demand was reached on Sept. 11 and that the market would begin recovery in the fourth quarter of this year.", "path": "kean-s/deleted_items/106."}, "s624": {"from": "issuealert@scientech.com", "to": "issuealerthtml@listserv.scientech.com", "subject": "U.S. Power Firms Plunge Into Europe's Trading Market; U.K.'s   NETA             Rules May Set Continental Standard", "text": "Analysis: The announcement from Entergy-Koch Trading that it will significantly increase its European power trading business is by no means unique. In fact, a recent scan of announcements from U.S. power firms tells a similar story. Dynegy announced last week that it is seeking acquisitions to strengthen its European operations, in an effort to \"replicate its strong U.S. energy trading platform in Europe.\" TXU said that it expects \"sharply higher profits this year\" from European energy trading as its electricity trading volumes have soared across the Continent. For the first nine months of 2001, TXU reportedly traded 211 terawatt hours of wholesale electricity in continental Europe, mostly in Germany, which compared to 97 terawatt hours in all of 2000. Further still, UtiliCorp just announced that it and an unnamed financial partner will be purchas", "clipped": true, "phrase": "Dynegy announced last week that it is seeking acquisitions to strengthen its European operations, in an effort to \"replicate its strong U.S. energy trading platform in Europe.\"", "path": "kean-s/deleted_items/166."}, "s625": {"from": "issuealert@scientech.com", "to": "issuealerthtml@listserv.scientech.com", "subject": "U.S. Power Firms Plunge Into Europe's Trading Market; U.K.'s   NETA             Rules May Set Continental Standard", "text": "Moreover, many of the U.S. power firms that expand into Europe start by accumulating generation assets in the United Kingdom, as represented by the UtiliCorp and Dynegy announcements. Much of this has to do with the fact that the United Kingdom began privatizing its electric market in the early 1990s and completed the process in May 1999 (after Norway, but well ahead of other European countries). However, there is a more important reason why U.S. energy firms may be drawn to U.K. power trading, and that is related to the area's unique rules for energy transactions, which were outlined in NETA and took effect in March of this", "clipped": true, "phrase": "many of the U.S. power firms that expand into Europe start by accumulating generation assets in the United Kingdom, as represented by the UtiliCorp and Dynegy announcements", "path": "kean-s/deleted_items/166."}, "s636": {"from": "issuealert@scientech.com", "to": "issuealerthtml@listserv.scientech.com", "subject": "Dynegy vs. Enron:  A Tale of Two Companies", "text": "Dynegy took a much more cautious approach toward expanding into the telecom sector and made a comparatively small amount of investment when compared to Enron. Dynegy has likewise been impacted by the slowdown of the telecom sector, but in the third quarter took a $15-million loss in its broadband business compared to the $80-million loss that Enron reported. However, Dynegy clearly specializes in marketing and trading two commodities (electricity and natural gas) and seems to add other businesses in a very methodical way that merely supplements its core business.", "clipped": true, "phrase": "in the third quarter took a $15-million loss in its broadband business compared to the $80-million loss that Enron reported", "path": "kean-s/deleted_items/213."}, "s652": {"from": "rahil.jafry@enron.com", "to": "louise.kitchen@enron.com", "subject": "FW:      Dynegy vs. Enron:  A Tale of Two Companies", "text": "Dynegy took a much more cautious approach toward expanding into the telecom sector and made a comparatively small amount of investment when compared to Enron. Dynegy has likewise been impacted by the slowdown of the telecom sector, but in the third quarter took a $15-million loss in its broadband business compared to the $80-million loss that Enron reported. However, Dynegy clearly specializes in marketing and trading two commodities (electricity and natural gas) and seems to add other businesses in a very methodical way that merely supplements its core business.", "clipped": true, "phrase": "in the third quarter took a $15-million loss in its broadband business compared to the $80-million loss that Enron reported", "path": "kitchen-l/_americas/mrha/ooc/26."}, "s675": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "Dynegy, which operates a 16,000-mile fiber-optic network connecting 44 U.S. cities, reported a relatively moderate $15 million third-quarter loss in its telecom business. \"We are not big on [being] first mover,\" said Mr. Bergstrom. \"We were second mover in gas, second mover in power, and we were second mover in telecom.\" \nStill, the Houston crowd isn't giving up on the market. An Enron spokeswoman said the company remains committed to telecom, but is reviewing costs. The company remains a chief cheerleader in trying to develop hubs and set standards.", "clipped": true, "phrase": "Dynegy, which operates a 16,000-mile fiber-optic network connecting 44 U.S. cities, reported a relatively moderate $15 million third-quarter loss in its telecom business.", "path": "kitchen-l/_americas/sec_media/58."}, "s634": {"from": "issuealert@scientech.com", "to": "issuealerthtml@listserv.scientech.com", "subject": "Dynegy vs. Enron:  A Tale of Two Companies", "text": "ket, within the next five years. Sometimes, Dynegy has acquired assets through partnerships with other companies such as NRG Energy, but just as often it has purchased assets independently. Most notably, when Dynegy acquired Illinova in early 2000, the purchase doubled Dynegy's generating capacity. Dynegy is now attempting to replicate this approach in Europe, where it is presently planning to purchase natural-gas storage facilities in England. Dynegy executives have argued that natural-gas storage is the best way to back up a natural-gas trading operation. There's no question that the approach is working. Out of the $286 million that Dynegy reported in the third quarter, $263 million of it came from the company's main wholesale business.", "clipped": true, "phrase": "Dynegy is now attempting to replicate this approach in Europe, where it is presently planning to purchase natural-gas storage facilities in England.", "path": "kean-s/deleted_items/213."}, "s650": {"from": "rahil.jafry@enron.com", "to": "louise.kitchen@enron.com", "subject": "FW:      Dynegy vs. Enron:  A Tale of Two Companies", "text": "ket, within the next five years. Sometimes, Dynegy has acquired assets through partnerships with other companies such as NRG Energy, but just as often it has purchased assets independently. Most notably, when Dynegy acquired Illinova in early 2000, the purchase doubled Dynegy's generating capacity. Dynegy is now attempting to replicate this approach in Europe, where it is presently planning to purchase natural-gas storage facilities in England. Dynegy executives have argued that natural-gas storage is the best way to back up a natural-gas trading operation. There's no question that the approach is working. Out of the $286 million that Dynegy reported in the third quarter, $263 million of it came from the company's main wholesale business.", "clipped": true, "phrase": "Dynegy is now attempting to replicate this approach in Europe, where it is presently planning to purchase natural-gas storage facilities in England.", "path": "kitchen-l/_americas/mrha/ooc/26."}, "s676": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "Dynegy, which operates a 16,000-mile fiber-optic network connecting 44 U.S. cities, reported a relatively moderate $15 million third-quarter loss in its telecom business. \"We are not big on [being] first mover,\" said Mr. Bergstrom. \"We were second mover in gas, second mover in power, and we were second mover in telecom.\" \nStill, the Houston crowd isn't giving up on the market. An Enron spokeswoman said the company remains committed to telecom, but is reviewing costs. The company remains a chief cheerleader in trying to develop hubs and set standards.", "clipped": true, "phrase": "\"We are not big on [being] first mover,\" said Mr. Bergstrom. \"We were second mover in gas, second mover in power, and we were second mover in telecom.\"", "path": "kitchen-l/_americas/sec_media/58."}, "s677": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "Dynegy is \"comfortable\" with its current position, a spokeswoman said. Chuck Watson, its chief executive, said demand has picked up sharply since Sept. 12 as companies have conducted more business by phone. He expects demand to grow substantially next year. But executives at several companies acknowledge that it may take months, if not years, to create an active trading market.", "clipped": true, "phrase": "Chuck Watson, its chief executive, said demand has picked up sharply since Sept. 12 as companies have conducted more business by phone.", "path": "kitchen-l/_americas/sec_media/58."}, "s684": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "One big difference between the two companies is that Enron has pursued an \"asset light\" strategy in recent years, trying to control the output of gas fields and power plants without actually owning them. Dynegy has been much more comfortable owning hard assets and was a big purchaser of power plants in California in 1998, for example. \nThe two companies, with headquarters in downtown Houston, are seen as die-hard rivals. That could make it difficult for Mr. Lay to accept any overture from Dynegy Chairman Chuck Watson. Dynegy's largest single investor is ChevronTexaco Corp., of San Francisco, which has profited handsomely from a 28% equity stake in Dynegy.", "clipped": true, "phrase": "Dynegy has been much more comfortable owning hard assets and was a big purchaser of power plants in California in 1998, for example.", "path": "kitchen-l/_americas/sec_media/49."}, "s691": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "company continues to speak with a handful of private equity firms about an\ninvestment. Those talks are still in the early stages. \n  Talks with Dynegy, a cross-town rival of Enron's that also markets and trades\nenergy, have progressed at a faster pace. \n\n  Dynegy is unlike Enron in that it owns more hard assets, many of which came\nalong with the acquisition of Illnova, completed in 2000. \n  While many potential acquirers have shied away from Enron due to continued\nconcern about unknown liabilities the company may have, Dynegy is very familiar\nwith its energy trading business. \n\n  Dynegy is the number two player in the U.S. energy trading market and would\nclearly become the dominant player were it to merge with or acquire Enron. A\nDynegy spokesman declined comment.", "clipped": true, "phrase": "Dynegy is unlike Enron in that it owns more hard assets, many of which came\nalong with the acquisition of Illnova, completed in 2000.", "path": "kitchen-l/_americas/sec_media/46."}, "s738": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "Dynegy bought power plants instead and focused on being a reliable supplier of energy. It cashed in, too, on deregulation, but not as Enron had. It stuck to its core energy business as its archrival branched into overseas operations, retail power marketing, a water business and a broadband venture, most of which have gone badly awry.", "clipped": true, "phrase": "Dynegy bought power plants instead and focused on being a reliable supplier of energy.", "path": "kitchen-l/_americas/sec_media/42."}, "s838": {"from": "issuealert@scientech.com", "to": "issuealerthtml@listserv.scientech.com", "subject": "Dynegy and Enron Announce Merger", "text": "k Watson is an understatement. The two rival companies followed very different paths to success. Enron, under the leadership of Jeffrey Skilling in particular, espoused an unorthodox belief that the company did not need to own physical assets in order to achieve success in the energy-trading space. Dynegy, on the other hand, approached the market from the opposite perspective, and diligently acquired diverse generation assets across the United States and internationally to support its trading operation. Up until the start of 2001, it appeared that Enron's strategy was the more successful of the two. Enron, with $100 billion in revenues and $1 billion in profits in 2000, ranked fifth on Fortune 500's list of largest U.S. companies. In contrast, Dynegy ranked 54 on the same list and had $29 billion in revenues and $500 million in earnings. However, 2000 turned out to be Dynegy's year and the success continued into 2001, the very year that would b", "clipped": true, "phrase": "Dynegy, on the other hand, approached the market from the opposite perspective, and diligently acquired diverse generation assets across the United States and internationally to support its trading operation.", "path": "kean-s/dynegy_transaction/4."}, "s1193": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions - 11/26/01", "text": "That would be sweet vindication for Watson's strategy. Dynegy backs trading operations with hard assets such as power plants, which allows the company to guarantee a supply of electricity to a buyer. In contrast, Enron has worked furiously to shed power plants and oil- and gas-generating fields, believing it could earn higher returns using its trading and technology expertise to tap assets owned by others in markets including steel, pulp, and paper. IRRESISTIBLE BARGAIN. As Enron's stock slid below $9 from its August, 2000, high of $90, it became a bargain that Watson couldn't pass up. It would have taken years for Dynegy to build up a marke", "clipped": true, "phrase": "Dynegy backs trading operations with hard assets such as power plants, which allows the company to guarantee a supply of electricity to a buyer.", "path": "kean-s/deleted_items/478."}, "s739": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "Mr. Watson said in an interview earlier this year that a string of power plant acquisitions had kept his company diversified and balanced. ''We need a little bit everywhere,'' he said. ''Enron is a financial player, but Dynegy is more of a physical player.'' \nIf Enron's finances grew more confusing, Dynegy seemed to offer clarity. If Enron promised a lot, analysts said, Dynegy played up its accomplishments. Enron lobbied regulators and politicians very publicly, while Dynegy kept things quiet and discreet. \n''Chuck Watson is a pretty straight-talking guy,'' said Christopher R. Ellinghaus, a Williams Capital Group analyst.", "clipped": true, "phrase": "''Enron is a financial player, but Dynegy is more of a physical player.''", "path": "kitchen-l/_americas/sec_media/42."}, "s744": {"from": "matthew.lenhart@enron.com", "to": "hal.lenhart@apollogrp.edu", "subject": "RE:", "text": "dynegy trades around their assets.  they aren't big risk takers like enron.  looks like the deal is now done.  now we just need to wait and see what happens.  \n\n -----Original Message-----\nFrom: \tHal Lenhart <Hal.Lenhart@apollogrp.edu>@ENRON  \nSent:\tFriday, November 09, 2001 8:51 AM\nTo:\tLenhart, Matthew\nSubject:\tRE:\n\nSorry to hear that. I read where the treasurer and a corporate attorney were\ncanned. I still feel the trading unit is somewhat elite in the business and", "clipped": true, "phrase": "dynegy trades around their assets.  they aren't big risk takers like enron.", "path": "lenhart-m/sent_items/801."}, "s740": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "If Enron's finances grew more confusing, Dynegy seemed to offer clarity. If Enron promised a lot, analysts said, Dynegy played up its accomplishments. Enron lobbied regulators and politicians very publicly, while Dynegy kept things quiet and discreet. \n''Chuck Watson is a pretty straight-talking guy,'' said Christopher R. Ellinghaus, a Williams Capital Group analyst.", "clipped": true, "phrase": "Enron lobbied regulators and politicians very publicly, while Dynegy kept things quiet and discreet.", "path": "kitchen-l/_americas/sec_media/42."}, "s741": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "''Dynegy had what could be called a second-mover advantage,'' said Andre Meade, head of Commerzbank Securities' United States utility research. ''It seemed to be content to watch its larger rival up the street in Houston, Enron, go into a market. And if it was successful, Dynegy then could go in with less money and make it work.''\n\nCopyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved. \t\n\nBusiness/Financial Desk; Section C\nEnron Admits to Overstating Profits by About $600 Million", "clipped": true, "phrase": "''Dynegy had what could be called a second-mover advantage,''", "path": "kitchen-l/_americas/sec_media/42."}, "s837": {"from": "issuealert@scientech.com", "to": "issuealerthtml@listserv.scientech.com", "subject": "Dynegy and Enron Announce Merger", "text": "- to 20-percent annual earnings growth over the next three years following its planned acquisition of Enron. If it gains all of the necessary regulatory approvals, Dynegy will become the undisputed market leader in the energy industry, with annual revenues of $200 billion and $90 billion in assets. The company will have 22,000 MW of generating capacity, which moves its closer to the previously established goal of accumulating 70,000 MW by 2005. In other words, the combined company will dwarf any other competition in the trading sector and be considerably ahead of its nearest competitors such as Mirant or Duke Energy in terms of size, resources and assets.", "clipped": true, "phrase": "The company will have 22,000 MW of generating capacity, which moves its closer to the previously established goal of accumulating 70,000 MW by 2005.", "path": "kean-s/dynegy_transaction/4."}, "s851": {"from": "rahil.jafry@enron.com", "to": "louise.kitchen@enron.com, marcus.nettelton@enron.com", "subject": "FW: Highlights from this morning's ENE/DYN analyst conference call", "text": "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.  \nIn what was termed a \"new approach\", the new entity will be run with a focus on cash flow rather than earnings.  \nRumors that Dynegy did the deal because of an unhedged exposure to Enron are not true.  Dynegy owed Enron <$50MM.  \nLay says that Enron had other options, 'particularly financial'.\nAll of the discussion and activity has taken place over the last two weeks.\nLay 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.", "clipped": true, "phrase": "In what was termed a \"new approach\", the new entity will be run with a focus on cash flow rather than earnings.", "path": "kitchen-l/_americas/east_power/12."}, "s864": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions", "text": "\"We really are confident that up and down the line we are going to be able to convince them that this is really in the best interest of the energy industry as well as these two respective companies,\" he said. \nGAS PIPELINE OPTION, BREAK-UP FEES \nDynegy executives also said there would be no complicated financing arrangements of the kind that triggered Enron's downfall, and that the new Dynegy will be able to keep top Enron executives and traders from defecting to rival firms. \nEnron officials declined to comment on reports that its banks J.P. Morgan and Citigroup were considering pumping an extra $500 million of capital in to Enron.", "clipped": true, "phrase": "Dynegy executives also said there would be no complicated financing arrangements of the kind that triggered Enron's downfall", "path": "kitchen-l/_americas/sec_media/37."}, "s853": {"from": "rahil.jafry@enron.com", "to": "louise.kitchen@enron.com, marcus.nettelton@enron.com", "subject": "FW: Highlights from this morning's ENE/DYN analyst conference call", "text": "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.\nWatson 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.\n\nGive me a call if you'd like me to try to clarify any of these comments.\n\nPatrick Tucker\nx3-3055", "clipped": true, "phrase": "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.", "path": "kitchen-l/_americas/east_power/12."}, "s916": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions", "text": "PR Newswire, 11/13/01\nUK: Enron Metals say business normal, no changes seen.\nReuters English News Service, 11/13/01\nINTERVIEW: Dynegy To Continue Asset Push In Europe\nDow Jones Energy Service, 11/13/01\nS&P Lowers Rtg on Enron-Related Synthetic Obligations\nBusiness Wire, 11/13/01\nUK: INTERVIEW-U.S. Dynegy still hungry for assets in Europe.\nReuters English News Service, 11/13/01\nHelp Wanted: Enron Trader Resumes Hit The Streets\nDow Jones Energy Service, 11/13/01\nUSA: ICE sets record energy, metals trade volume.\nReuters English News Service, 11/13/01\nUK: Dynegy sees no problem for BG Storage deal.\nReuters English News Service, 11/13/01\nEnron Direct and the Alberta Urban Municipalities Association (\"AUMA\") Seal a Natural Gas Supply Deal\nCanada NewsWire, 11/13/01", "clipped": true, "phrase": "UK: INTERVIEW-U.S. Dynegy still hungry for assets in Europe.", "path": "kitchen-l/_americas/sec_media/35."}, "s917": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions", "text": "Business Wire, 11/13/01\nUK: INTERVIEW-U.S. Dynegy still hungry for assets in Europe.\nReuters English News Service, 11/13/01\nHelp Wanted: Enron Trader Resumes Hit The Streets\nDow Jones Energy Service, 11/13/01\nUSA: ICE sets record energy, metals trade volume.\nReuters English News Service, 11/13/01\nUK: Dynegy sees no problem for BG Storage deal.\nReuters English News Service, 11/13/01\nEnron Direct and the Alberta Urban Municipalities Association (\"AUMA\") Seal a Natural Gas Supply Deal\nCanada NewsWire, 11/13/01\nEnron CEO May Get at Least $60.6 Million After Buyout (Update6)\nBloomberg, 11/13/01\n\nDynegy Saved Enron Merger With Last Minute Pact (Update1)\nBloomberg, 11/13/01\n\nEnron Corp. Raised to `Maintain Position' at Edward Jones\nBloomberg, 11/13/01\n\nLemon Laws Won't Save Dynegy", "clipped": true, "phrase": "UK: Dynegy sees no problem for BG Storage deal.", "path": "kitchen-l/_americas/sec_media/35."}, "s990": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions - 11/17/01 - 11/18/01", "text": "FOREIGN\n1\n(Copyright 2001 Independent Newspapers (UK) Limited)\n\nWessex Water, the water and sewage company, is understood to be up for sale following an offer to take over its owner, Enron, by Dynegy, the US energy group. \nThree years ago, Enron spent pounds 1.4bn on Wessex Water. But Dynegy is understood to want to concentrate on US and European energy assets and is not interested in non-core assets.\nAny hope to regain the same amount of money could be derailed as the industry is put off by regulatory problems, and the company's results have worsened due to imposed price cuts over the past year. \n\"It is not that there is going to be a fire sale but most of [the international assets] are not core to the businesses we will continue to pursue,\" said an Enron spokesperson. \"At the right price we will sell.\"", "clipped": true, "phrase": "But Dynegy is understood to want to concentrate on US and European energy assets and is not interested in non-core assets.", "path": "kean-s/deleted_items/369."}, "s1007": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions - 11/19/01", "text": "The Independent on Sunday \nThe water and sewage company Wessex Water is understood to be up for sale following an offer to take over its owner, Enron. \nThree years ago, Enron spent AGBP1.4bn on Wessex Water. \nBut Dynegy is understood to want to concentrate on US and European energy assets and is not interested in non-core assets. \nAny hope to regain the same amount of money could be derailed as the industry is put off by regulatory problems, and the company's results have worsened due to imposed price cuts over the past year.\n\nCopyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved. \t\n\nIndia BSES:Dabhol Pwr Proj Due Diligence Done Jan -Report\n\n11/19/2001\nEmerging Markets Report\n(Copyright (c) 2001, Dow Jones & Company, Inc.)", "clipped": true, "phrase": "But Dynegy is understood to want to concentrate on US and European energy assets and is not interested in non-core assets.", "path": "kean-s/deleted_items/368."}, "s1160": {"from": "karen.denne@enron.com", "to": "j..kean@enron.com, pr <.palmer@enron.com>, meredith.philipp@enron.com,   \tvance.meyer@enron.com, john.ambler@enron.com", "subject": "FW: Media Inquiries (Japan) & Reactive Statement", "text": "The move follows an announcement earlier this month that Dynegy Inc. (DYN) plans to purchase Enron in a stock swap deal valued at about $10 billion. Dynegy, which is owned 26% by ChevronTexaco Corp. (CVX), has said the new entity will focus on the core businesses of North American and European wholesale energy markets and commercial and industrial energy users. \n \t\nEnron Japan Corp., a wholly-owned subsidiary of the Houston-based company, is currently reviewing all of its operations in Japan, including those handled by E Power Corp., a Japanese power venture set up by Enron and Orix Corp. (IX).", "clipped": true, "phrase": "Dynegy, which is owned 26% by ChevronTexaco Corp. (CVX), has said the new entity will focus on the core businesses of North American and European wholesale energy markets and commercial and industrial energy users.", "path": "kean-s/deleted_items/454."}, "s989": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions - 11/17/01 - 11/18/01", "text": "http://www.washingtonpost.com \nCopyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved. \t\n\nBusiness\nWessex Water `to be sold'\nHeather Tomlinson\n\n11/18/2001\nThe Independent - London\nFOREIGN\n1\n(Copyright 2001 Independent Newspapers (UK) Limited)\n\nWessex Water, the water and sewage company, is understood to be up for sale following an offer to take over its owner, Enron, by Dynegy, the US energy group. \nThree years ago, Enron spent pounds 1.4bn on Wessex Water. But Dynegy is understood to want to concentrate on US and European energy assets and is not interested in non-core assets.\nAny hope to regain the same amount of money could be derailed as the industry is put off by regulatory problems, and the company's results have worsened due to imposed price cuts over the past year.", "clipped": true, "phrase": "Wessex Water, the water and sewage company, is understood to be up for sale following an offer to take over its owner, Enron, by Dynegy, the US energy group.", "path": "kean-s/deleted_items/369."}, "s1196": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions - 11/26/01", "text": ", pulp, and paper. IRRESISTIBLE BARGAIN. As Enron's stock slid below $9 from its August, 2000, high of $90, it became a bargain that Watson couldn't pass up. It would have taken years for Dynegy to build up a market-making operation to match Enron's. Its risk-management systems are top-of-the-line. Enron's commercial-services unit, which manages power supplies for corporate customers such as Wendy's International Inc., is three or four years ahead of Dynegy's, says Steve Bergstrom, president of Dynegy. Watson says he still plans to get rid of the $8 billion worth of assets Lay had earmarked for sale, including the Portland (Ore.) General Electric plant and oil and gas assets in India. For the $1.5 billion, though, if the deal falls through Dynegy will have the right to Enron's prized Northern Natural Gas pipeline, worth an estimated $2.25 billion. And Dynegy can walk away if Enron's legal liabilities exceed $3.5 billion.", "clipped": true, "phrase": "Enron's commercial-services unit, which manages power supplies for corporate customers such as Wendy's International Inc., is three or four years ahead of Dynegy's, says Steve Bergstrom, president of Dynegy.", "path": "kean-s/deleted_items/478."}, "s1195": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions - 11/26/01", "text": "market-making operation to match Enron's. Its risk-management systems are top-of-the-line. Enron's commercial-services unit, which manages power supplies for corporate customers such as Wendy's International Inc., is three or four years ahead of Dynegy's, says Steve Bergstrom, president of Dynegy. Watson says he still plans to get rid of the $8 billion worth of assets Lay had earmarked for sale, including the Portland (Ore.) General Electric plant and oil and gas assets in India. For the $1.5 billion, though, if the deal falls through Dynegy will have the right to Enron's prized Northern Natural Gas pipeline, worth an estimated $2.25 billion. And Dynegy can walk away if Enron's legal liabilities exceed $3.5 billion.", "clipped": true, "phrase": "Watson says he still plans to get rid of the $8 billion worth of assets Lay had earmarked for sale, including the Portland (Ore.) General Electric plant and oil and gas assets in India.", "path": "kean-s/deleted_items/478."}, "s1307": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "Business World: Enron Is History, Says History\nThe Wall Street Journal, 11/28/01\nTrying to Restore Confidence in Enron to Salvage a Merger\nThe New York Times, 11/28/01\nEnron, Dynegy pursue the right price\nHouston Chronicle, 11/28/01\nCooperation from Enron key in probe\nHouston Chronicle, 11/28/01\nDynegy Completes $600 Mln Purchase of U.K. Gas Storage Assets\nBloomberg, 11/28/01\n\nNatural Gas, Electricity Trading Appears Resilient, WSJ Reports\nBloomberg, 11/28/01\n\nJ.P. Morgan, Citigroup Have Stakes in Enron Purchase, WSJ Says\nBloomberg, 11/28/01\n\nEnron's 401(k) Savings Plan Was Set Up for a Fall: David Wilson\nBloomberg, 11/28/01\n\nEnron Receives Proposal for $1 Billion Investment, FT Says\nBloomberg, 11/28/01", "clipped": true, "phrase": "Dynegy Completes $600 Mln Purchase of U.K. Gas Storage Assets", "path": "kitchen-l/_americas/sec_media/14."}, "s1308": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "The Washington Post, 11/28/01\nDynegy Refigures Enron Offer Takeover: Buyer lowers price; energy trader's stock stabilizes. Rating agencies show restraint.\nLos Angeles Times, 11/28/01\nRatings agencies agree to hold off on ratings move on Enron for now - WSJ\nAFX News, 11/28/01\nDynegy Completes BG Storage Ltd Buy\nDow Jones News Service, 11/28/01\nDynegy Completes Acquisition of UK Natural Gas Storage Assets\nBusiness Wire, 11/28/01\n\nINDIA: India's ONGC says rejects BG offer on fields.\nReuters English News Service, 11/28/01\nAUSTRALIA: Pacific Hydro to select wind turbine maker.\nReuters English News Service, 11/28/01\nDynegy confirms it's renegotiating Enron deal\nThe Daily Deal, 11/28/01\nDynegy confirms move to renegotiate Enron takeover", "clipped": true, "phrase": "Dynegy Completes BG Storage Ltd Buy", "path": "kitchen-l/_americas/sec_media/14."}, "s1398": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions- 11/30/01", "text": "Dynegy's decision to back out of the $9 billion acquisition leaves\nEnron on the verge of bankruptcy.\n\n     The Houston-based rival of Enron must now convince investors\nand rating agencies that it has less in common with Enron than it\nsaid earlier this month, the paper said. With Enron out of the\nway, Dynegy may be able to expand its energy trading business.\nHowever, some worry that Enron's collapse has revealed previously\nundiscovered risks that energy trading companies may face, the\nTimes said.\n\n     Dynegy's efforts to buy a natural gas pipeline that is one of\nEnron's most valuable assets for $1.5 billion might not pan out\neither because Enron said it will fight to keep the pipeline out\nof Dynegy's hands, the Times reported.\n\n(NYT 11-30 C7)", "clipped": true, "phrase": "way, Dynegy may be able to expand its energy trading business.", "path": "kitchen-l/_americas/sec_media/5."}, "s1435": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "traffic.\n\n     ``EnronOnline will just disappear,'' said Peter Fusaro,\npresident of Global Change Associates Inc., a consulting firm in\nNew York. Enron's portfolio of trades ``is evaporating'' and ``is\nreplaceable'' with competing electronic trading platforms.\n\n     Dynegy's Watson said on a conference call with analysts and\ninvestors that his company would try to expand in Europe, where\nEnron was the dominant energy trader. Enron said Friday it would\nfire more than 1,000 workers in Europe.\n\n                           Shutdown\n\n     EnronOnline shut down Wednesday after Dynegy canceled its\nplans to buy Enron, depriving Enron of the cash it needed to meet\nits obligations and all but ensuring the company would be forced\nto seek protection from its creditors.\n\n     Later in the week, the site was offering trading in 472", "clipped": true, "phrase": "Dynegy's Watson said on a conference call with analysts and\ninvestors that his company would try to expand in Europe, where\nEnron was the dominant energy trader.", "path": "kitchen-l/_americas/sec_media/2."}, "s1452": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "Recently, Dynegy also received regulatory approval in Europe to buy natural gas storage assets in the United Kingdom from BG Group PLC, which should give Dynegy \"a strong beach head from which to continue to grow their European presence in marketing and trading,\" Mr. Dietert said. \n--- Tug of War\n\nDynegy reasserts its claim on Enron's Northern Natural Gas pipeline.\n\nNorthern Natural Gas\n\n-- Current Owner: Enron\n-- Proposed Owner: Dynegy\n-- Length: 16,500 miles\n-- Peak capacity: 4.3 billion cubic feet per day\n-- Location: Extends from Texas to Great Lakes", "clipped": true, "phrase": "Recently, Dynegy also received regulatory approval in Europe to buy natural gas storage assets in the United Kingdom from BG Group PLC", "path": "kitchen-l/_americas/sec_media/1."}, "s34": {"from": "kay.mann@enron.com", "to": "sheila.tweed@enron.com", "subject": "Re: VEPCO PPA", "text": "do the due diligence on the site with regards to some of the siting issues.  \nIN addition, in NC we are going to get a CPCN to site the plant to speed up \nthe regulatory process in the NCUC.  I think that this will make the issue \nless contentious because of the NCUC's acceptance of the Dynegy plant at \nRockingham that had a PPA with Duke Power.  \n\nUsing the Dynegy plant as a guideline, their only stumbling block was their \ngas agreeement.  They built a bypass off Transco.  We would be taking gas \nfrom the LDC of Rocky Mount.  Having talked with the regulatory folks at the \nNCUC who handle gas issues, this is the preferred route.  So, I do not think \nthat we have any major state issues.  I think that right now we are simply \nworking on some of the siting issues.", "clipped": true, "phrase": "the NCUC's acceptance of the Dynegy plant at \nRockingham that had a PPA with Duke Power.", "path": "mann-k/_sent_mail/4155."}, "s36": {"from": "christi.nicolay@enron.com", "to": "kay.mann@enron.com, heather.kroll@enron.com, ozzie.pagan@enron.com,   \tjeffrey.keenan@enron.com, tom.chapman@enron.com", "subject": "Re: VEPCO PPA", "text": "do the due diligence on the site with regards to some of the siting issues.  \nIN addition, in NC we are going to get a CPCN to site the plant to speed up \nthe regulatory process in the NCUC.  I think that this will make the issue \nless contentious because of the NCUC's acceptance of the Dynegy plant at \nRockingham that had a PPA with Duke Power.  \n\nUsing the Dynegy plant as a guideline, their only stumbling block was their \ngas agreeement.  They built a bypass off Transco.  We would be taking gas \nfrom the LDC of Rocky Mount.  Having talked with the regulatory folks at the \nNCUC who handle gas issues, this is the preferred route.  So, I do not think \nthat we have any major state issues.  I think that right now we are simply", "clipped": true, "phrase": "less contentious because of the NCUC's acceptance of the Dynegy plant at", "path": "mann-k/all_documents/83."}, "s35": {"from": "kay.mann@enron.com", "to": "sheila.tweed@enron.com", "subject": "Re: VEPCO PPA", "text": "IN addition, in NC we are going to get a CPCN to site the plant to speed up \nthe regulatory process in the NCUC.  I think that this will make the issue \nless contentious because of the NCUC's acceptance of the Dynegy plant at \nRockingham that had a PPA with Duke Power.  \n\nUsing the Dynegy plant as a guideline, their only stumbling block was their \ngas agreeement.  They built a bypass off Transco.  We would be taking gas \nfrom the LDC of Rocky Mount.  Having talked with the regulatory folks at the \nNCUC who handle gas issues, this is the preferred route.  So, I do not think \nthat we have any major state issues.  I think that right now we are simply \nworking on some of the siting issues.\n\nThat being said, I will let you take a look at the PPA and let me know or \nJeff Keenan (or even Heather Kroll or Ozzie Pagan) if you think that there", "clipped": true, "phrase": "Using the Dynegy plant as a guideline, their only stumbling block was their \ngas agreeement.  They built a bypass off Transco.", "path": "mann-k/_sent_mail/4155."}, "s37": {"from": "christi.nicolay@enron.com", "to": "kay.mann@enron.com, heather.kroll@enron.com, ozzie.pagan@enron.com,   \tjeffrey.keenan@enron.com, tom.chapman@enron.com", "subject": "Re: VEPCO PPA", "text": "the regulatory process in the NCUC.  I think that this will make the issue \nless contentious because of the NCUC's acceptance of the Dynegy plant at \nRockingham that had a PPA with Duke Power.  \n\nUsing the Dynegy plant as a guideline, their only stumbling block was their \ngas agreeement.  They built a bypass off Transco.  We would be taking gas \nfrom the LDC of Rocky Mount.  Having talked with the regulatory folks at the \nNCUC who handle gas issues, this is the preferred route.  So, I do not think \nthat we have any major state issues.  I think that right now we are simply \nworking on some of the siting issues.\n\nThat being said, I will let you take a look at the PPA and let me know or \nJeff Keenan (or even Heather Kroll or Ozzie Pagan) if you think that there", "clipped": true, "phrase": "gas agreeement.  They built a bypass off Transco.", "path": "mann-k/all_documents/83."}, "s110": {"from": "dale.rasmussen@enron.com", "to": "stuart.zisman@enron.com", "subject": "Re: Summary of LM 6000 Contract", "text": "however, suggest that Kent review the summary not for accuracy but for \ncontent prior to posting.  I believe that this is consistent with the deal \nthat Sheila cut with him.\n\nBy the way, I heard from Don Miller that the following companies have \nexpressed an interest in LV CoGen: Southern, Allegheny, Pinnacle West, El \nPaso, NRG, Calpine, AEP, PECO, and Dynegy  (this should be kept confidential)\n\nStuart", "clipped": true, "phrase": "expressed an interest in LV CoGen: Southern, Allegheny, Pinnacle West, El \nPaso, NRG, Calpine, AEP, PECO, and Dynegy", "path": "mann-k/all_documents/1485."}, "s111": {"from": "kay.mann@enron.com", "to": "stuart.zisman@enron.com", "subject": "Re: Summary of LM 6000 Contract", "text": "however, suggest that Kent review the summary not for accuracy but for \ncontent prior to posting.  I believe that this is consistent with the deal \nthat Sheila cut with him.\n\nBy the way, I heard from Don Miller that the following companies have \nexpressed an interest in LV CoGen: Southern, Allegheny, Pinnacle West, El \nPaso, NRG, Calpine, AEP, PECO, and Dynegy  (this should be kept confidential)\n\nStuart", "clipped": true, "phrase": "expressed an interest in LV CoGen: Southern, Allegheny, Pinnacle West, El \nPaso, NRG, Calpine, AEP, PECO, and Dynegy", "path": "mann-k/_sent_mail/3154."}, "s226": {"from": "richard.sanders@enron.com", "to": "andrew.edison@enron.com", "subject": "MPLP PPA Dispute", "text": "a few days.  I thought it made sense to contemporaneously record some \ncomments as I was thinking through some of the issues/positions.  Also, I'll \nhave to run down the conflict issue when I get back into the office, but I \nthought I could generally review the PPA in any event.\n\nIn addition, I did not know whether it was ENA's or Dynegy's obligation to \nwork on a response to CMS, but I thought it made some sense to see what one \nmight look like on paper.  (See  attached).  At this point, however, I'm not \nsure whether MPLP should furnish any specific contract-based rationale in \nwriting to CMS as to MPLP's position that the capacity charges should be \nadjusted on a calendar year basis.  You will note that the draft letter \nfocuses on the language dealing with the adjustment formula to the Contract", "clipped": true, "phrase": "In addition, I did not know whether it was ENA's or Dynegy's obligation to \nwork on a response to CMS", "path": "sanders-r/all_documents/1535."}, "s227": {"from": "richard.sanders@enron.com", "to": "andrew.edison@enron.com", "subject": "January 2001 Billing Summary for Michigan Power Limited Partnership   - Next Steps", "text": "out of pocket until the conclusion of the arbitration process. If we do not \nget Consumers to invoice and pay the sums we believe are due, there will be \nno incentive on Consumers to start the process and every opportunity for them \nto delay any resolution of this dispute.\n \nI have spoken with Sandy Hollingsworth who will be sending me copies of \ndocuments that Dynegy have uncovered which she believes further assist our \ncase. Once I receive them we ought to meet to review and obtain a better \nunderstanding of the case we are able to make and the case which may be made \nagainst us. Is there any other evidence that we, or Dynegy, should be \ncollecting at this stage, such as interviewing individuals who were involved \nin the negotiations/discussions with Consumers?\n \nRegards,\n \nMarcus\n---------------------- Forwarded by Marcus Nettelton/NA/Enron on 02/20/2001", "clipped": true, "phrase": "I have spoken with Sandy Hollingsworth who will be sending me copies of \ndocuments that Dynegy have uncovered which she believes further assist our \ncase.", "path": "sanders-r/all_documents/1536."}, "s228": {"from": "richard.sanders@enron.com", "to": "andrew.edison@enron.com", "subject": "January 2001 Billing Summary for Michigan Power Limited Partnership   - Next Steps", "text": "documents that Dynegy have uncovered which she believes further assist our \ncase. Once I receive them we ought to meet to review and obtain a better \nunderstanding of the case we are able to make and the case which may be made \nagainst us. Is there any other evidence that we, or Dynegy, should be \ncollecting at this stage, such as interviewing individuals who were involved \nin the negotiations/discussions with Consumers?\n \nRegards,\n \nMarcus\n---------------------- Forwarded by Marcus Nettelton/NA/Enron on 02/20/2001 \n01:15 PM ---------------------------\n\nKetan.Patel@dynegy.com on 02/20/2001 12:43:54 PM\nTo: Sandy.Hollingsworth@dynegy.com\ncc: ketan.patel@dynegy.com, Garrick.Hill@enron.com, Eddy.Daniels@enron.com,", "clipped": true, "phrase": "Is there any other evidence that we, or Dynegy, should be \ncollecting at this stage", "path": "sanders-r/all_documents/1536."}, "s229": {"from": "richard.sanders@enron.com", "to": "andrew.edison@enron.com", "subject": "January 2001 Billing Summary for Michigan Power Limited Partnership   - Next Steps", "text": "Marcus.Nettelton@enron.com, Gerardo.P.Manalac@dynegy.com, \nAldo.C.Lopez@dynegy.com \n\nSubject: January 2001 Billing Summary for Michigan Power Limited Partnership\n\nSandy-\n\nI just received the billing summary of power purchased from Michigan Power\nLimited Partnership for January 2001.  As expected, they have used the\ncapacity charges corresponding to Year 6 (On Peak = $41.99/MWh, Off Peak\n= $39.89).  Could you please draft a quick letter as suggested by Marcus\nNettelton.  The correct capacity charges should be On Peak  = $45.90/MWh,\nOff Peak = $43.60/MWh.\n\nRick, I will fax you a copy of the billing summary and then you can forward\nit others in your shop.\n\nThanks,\n\nKetan\n\nMarcus.Nettelton@enron.com on 02/15/2001 11:48:19 AM\n\nTo:   ketan.patel@dynegy.com, shol@dynegy.com\ncc:   Garrick.Hill@enron.com, Eddy.Daniels@enron.com", "clipped": true, "phrase": "they have used the\ncapacity charges corresponding to Year 6 (On Peak = $41.99/MWh, Off Peak\n= $39.89).", "path": "sanders-r/all_documents/1536."}, "s230": {"from": "richard.sanders@enron.com", "to": "andrew.edison@enron.com", "subject": "January 2001 Billing Summary for Michigan Power Limited Partnership   - Next Steps", "text": "Limited Partnership for January 2001.  As expected, they have used the\ncapacity charges corresponding to Year 6 (On Peak = $41.99/MWh, Off Peak\n= $39.89).  Could you please draft a quick letter as suggested by Marcus\nNettelton.  The correct capacity charges should be On Peak  = $45.90/MWh,\nOff Peak = $43.60/MWh.\n\nRick, I will fax you a copy of the billing summary and then you can forward\nit others in your shop.\n\nThanks,\n\nKetan\n\nMarcus.Nettelton@enron.com on 02/15/2001 11:48:19 AM\n\nTo:   ketan.patel@dynegy.com, shol@dynegy.com\ncc:   Garrick.Hill@enron.com, Eddy.Daniels@enron.com\n\nSubject:  Michigan Power Limited Partnership - PPA\n\nFurther to the email sent yesterday by Eddy Daniels, we believe that if", "clipped": true, "phrase": "The correct capacity charges should be On Peak  = $45.90/MWh,\nOff Peak = $43.60/MWh.", "path": "sanders-r/all_documents/1536."}, "s231": {"from": "richard.sanders@enron.com", "to": "andrew.edison@enron.com", "subject": "January 2001 Billing Summary for Michigan Power Limited Partnership   - Next Steps", "text": "Sandy-\n\nI just received the billing summary of power purchased from Michigan Power\nLimited Partnership for January 2001.  As expected, they have used the\ncapacity charges corresponding to Year 6 (On Peak = $41.99/MWh, Off Peak\n= $39.89).  Could you please draft a quick letter as suggested by Marcus\nNettelton.  The correct capacity charges should be On Peak  = $45.90/MWh,\nOff Peak = $43.60/MWh.\n\nRick, I will fax you a copy of the billing summary and then you can forward\nit others in your shop.\n\nThanks,\n\nKetan\n\nMarcus.Nettelton@enron.com on 02/15/2001 11:48:19 AM\n\nTo:   ketan.patel@dynegy.com, shol@dynegy.com\ncc:   Garrick.Hill@enron.com, Eddy.Daniels@enron.com\n\nSubject:  Michigan Power Limited Partnership - PPA", "clipped": true, "phrase": "Could you please draft a quick letter as suggested by Marcus\nNettelton.", "path": "sanders-r/all_documents/1536."}, "s259": {"from": "richard.sanders@enron.com", "to": "andrew.edison@enron.com", "subject": "MPLP PPA Dispute", "text": "a few days.  I thought it made sense to contemporaneously record some \ncomments as I was thinking through some of the issues/positions.  Also, I'll \nhave to run down the conflict issue when I get back into the office, but I \nthought I could generally review the PPA in any event.\n\nIn addition, I did not know whether it was ENA's or Dynegy's obligation to \nwork on a response to CMS, but I thought it made some sense to see what one \nmight look like on paper.  (See  attached).  At this point, however, I'm not \nsure whether MPLP should furnish any specific contract-based rationale in \nwriting to CMS as to MPLP's position that the capacity charges should be \nadjusted on a calendar year basis.  You will note that the draft letter \nfocuses on the language dealing with the adjustment formula to the Contract", "clipped": true, "phrase": "I did not know whether it was ENA's or Dynegy's obligation to \nwork on a response to CMS", "path": "sanders-r/all_documents/1574."}, "s260": {"from": "richard.sanders@enron.com", "to": "andrew.edison@enron.com", "subject": "January 2001 Billing Summary for Michigan Power Limited Partnership   - Next Steps", "text": "Marcus.Nettelton@enron.com, Gerardo.P.Manalac@dynegy.com, \nAldo.C.Lopez@dynegy.com \n\nSubject: January 2001 Billing Summary for Michigan Power Limited Partnership\n\nSandy-\n\nI just received the billing summary of power purchased from Michigan Power\nLimited Partnership for January 2001.  As expected, they have used the\ncapacity charges corresponding to Year 6 (On Peak = $41.99/MWh, Off Peak\n= $39.89).  Could you please draft a quick letter as suggested by Marcus\nNettelton.  The correct capacity charges should be On Peak  = $45.90/MWh,\nOff Peak = $43.60/MWh.\n\nRick, I will fax you a copy of the billing summary and then you can forward\nit others in your shop.\n\nThanks,\n\nKetan\n\nMarcus.Nettelton@enron.com on 02/15/2001 11:48:19 AM\n\nTo:   ketan.patel@dynegy.com, shol@dynegy.com\ncc:   Garrick.Hill@enron.com, Eddy.Daniels@enron.com", "clipped": true, "phrase": "they have used the\ncapacity charges corresponding to Year 6 (On Peak = $41.99/MWh, Off Peak\n= $39.89)", "path": "sanders-r/all_documents/1576."}, "s261": {"from": "richard.sanders@enron.com", "to": "andrew.edison@enron.com", "subject": "January 2001 Billing Summary for Michigan Power Limited Partnership   - Next Steps", "text": "out of pocket until the conclusion of the arbitration process. If we do not \nget Consumers to invoice and pay the sums we believe are due, there will be \nno incentive on Consumers to start the process and every opportunity for them \nto delay any resolution of this dispute.\n \nI have spoken with Sandy Hollingsworth who will be sending me copies of \ndocuments that Dynegy have uncovered which she believes further assist our \ncase. Once I receive them we ought to meet to review and obtain a better \nunderstanding of the case we are able to make and the case which may be made \nagainst us. Is there any other evidence that we, or Dynegy, should be \ncollecting at this stage, such as interviewing individuals who were involved \nin the negotiations/discussions with Consumers?\n \nRegards,\n \nMarcus\n---------------------- Forwarded by Marcus Nettelton/NA/Enron on 02/20/2001", "clipped": true, "phrase": "I have spoken with Sandy Hollingsworth who will be sending me copies of \ndocuments that Dynegy have uncovered which she believes further assist our \ncase.", "path": "sanders-r/all_documents/1576."}, "s296": {"from": "charles.ward@enron.com", "to": "louise.kitchen@enron.com", "subject": "QF projects summary", "text": "Michigan Power - 129 MW power plant fully contracted for power 20+ years and 14 remaining years of fixed cost gas.  The PPA is deep in the money versus cost to generate (even after the swapped gas in 2015).  Dynegy operates and is Managing General Partner (\"MGP\") and Operator.  Fair performance record on both at best.  Michigan is currently entering into QF stranded cost filings and the time is near to propose a restructuring.  We have waited for about 9 months as Doug Clifford (the origination on the purchase) had been attempting to purchase Dynegy's interest (they have too high a book value and are accrual based).", "clipped": true, "phrase": "Dynegy operates and is Managing General Partner (\"MGP\") and Operator.  Fair performance record on both at best.", "path": "kitchen-l/_americas/east_power/235."}, "s299": {"from": "charles.ward@enron.com", "to": "louise.kitchen@enron.com", "subject": "Re: QF projects summary", "text": "Michigan Power - 129 MW power plant fully contracted for power 20+ years and 14 remaining years of fixed cost gas.  The PPA is deep in the money versus cost to generate (even after the swapped gas in 2015).  Dynegy operates and is Managing General Partner (\"MGP\") and Operator.  Fair performance record on both at best.  Michigan is currently entering into QF stranded cost filings and the time is near to propose a restructuring.  We have waited for about 9 months as Doug Clifford (the origination on the purchase) had been attempting to purchase Dynegy's interest (they have too high a book value and are accrual based).", "clipped": true, "phrase": "Dynegy operates and is Managing General Partner (\"MGP\") and Operator.  Fair performance record on both at best.", "path": "kitchen-l/_americas/east_power/234."}, "s297": {"from": "charles.ward@enron.com", "to": "louise.kitchen@enron.com", "subject": "QF projects summary", "text": "in the money versus cost to generate (even after the swapped gas in 2015).  Dynegy operates and is Managing General Partner (\"MGP\") and Operator.  Fair performance record on both at best.  Michigan is currently entering into QF stranded cost filings and the time is near to propose a restructuring.  We have waited for about 9 months as Doug Clifford (the origination on the purchase) had been attempting to purchase Dynegy's interest (they have too high a book value and are accrual based).", "clipped": true, "phrase": "We have waited for about 9 months as Doug Clifford (the origination on the purchase) had been attempting to purchase Dynegy's interest", "path": "kitchen-l/_americas/east_power/235."}, "s298": {"from": "charles.ward@enron.com", "to": "louise.kitchen@enron.com", "subject": "QF projects summary", "text": "Difficulties - Dynegy and Consumers.  Consumers can be rational.  Dynegy either must sell or play along.  Current operational/project management issues which Dynegy caused may make their interest available.\n\nAda - 29 MW plant fully contracted for power 20+ years.  Enron is the MGP.  GE operates for us.  50% owned by ConEd.  Fixed gas through 2008.  We would propose a restructuring at the same time as Michigan Power (this would leave Consumers with only one unrestructured PPA).  Currently revisiting buying ComEd's interest.", "clipped": true, "phrase": "Dynegy either must sell or play along.  Current operational/project management issues which Dynegy caused may make their interest available.", "path": "kitchen-l/_americas/east_power/235."}, "s300": {"from": "charles.ward@enron.com", "to": "louise.kitchen@enron.com", "subject": "Re: QF projects summary", "text": "Difficulties - Dynegy and Consumers.  Consumers can be rational.  Dynegy either must sell or play along.  Current operational/project management issues which Dynegy caused may make their interest available.\n\nAda - 29 MW plant fully contracted for power 20+ years.  Enron is the MGP.  GE operates for us.  50% owned by ConEd.  Fixed gas through 2008.  We would propose a restructuring at the same time as Michigan Power (this would leave Consumers with only one unrestructured PPA).  Currently revisiting buying ComEd's interest.", "clipped": true, "phrase": "Difficulties - Dynegy and Consumers.  Consumers can be rational.  Dynegy either must sell or play along.", "path": "kitchen-l/_americas/east_power/234."}, "s406": {"from": "henry.means@enron.com", "to": "", "subject": "Enron Mentions - 05/03/01", "text": "wrote in a letter to SDG&E Chairman and CEO Stephen Baum. \nDynegy has tried to downplay its exposure to the state's power woes. It's \nrepeatedly pointed out to the press that its 50% stake in the four power \nplants in California only represents 1,400 of its total generating portfolio \nof 13,000 megawatts, or about 10.8%. Analysts, however, estimate Dynegy's \nexposure in California could give its earnings a haircut of as much as 15% \nthis year. \nEven so, Dynegy's stock has recovered to a recent $56. \"Illinova has created \nsome volatility to Dynegy's stock because of the addition of power generation \nto its business,\" Prudential's Coale said. \"But overall, it's been a great \ndeal.\" \nWhile keeping most of Illinova management in place, Dynegy made the company's", "clipped": true, "phrase": "of 13,000 megawatts, or about 10.8%. Analysts, however, estimate Dynegy's", "path": "kean-s/all_documents/5039."}, "s424": {"from": "henry.means@enron.com", "to": "", "subject": "Enron Mentions - 05/03/01", "text": "plant sales in the state. (Dynegy estimated the acquisition would have added \n5 cents per share to 2001 earnings.) \nStill, since the Illinova merger, the total generating capacity built or \nacquired by Dynegy now exceeds the total capacity added through the merger. \nThat includes 1,160 megawatts of new natural gas-fired generation facilities \nin Georgia, Kentucky and Louisiana that are expected to begin commercial \noperation by June -- just in time for summer. \nLike its cross-town rival, Enron Corp., Dynegy has also expanded via \nacquisitions into broadband telecommunications. (Dynegy also competes with \nHouston-based Reliant Energy and Charlotte, N.C.-based Duke Energy.) \nBoth Enron and Dynegy see a big opportunity in broadband, given that there", "clipped": true, "phrase": "That includes 1,160 megawatts of new natural gas-fired generation facilities", "path": "kean-s/all_documents/5039."}, "s425": {"from": "henry.means@enron.com", "to": "", "subject": "Enron Mentions - 05/03/01", "text": "5 cents per share to 2001 earnings.) \nStill, since the Illinova merger, the total generating capacity built or \nacquired by Dynegy now exceeds the total capacity added through the merger. \nThat includes 1,160 megawatts of new natural gas-fired generation facilities \nin Georgia, Kentucky and Louisiana that are expected to begin commercial \noperation by June -- just in time for summer. \nLike its cross-town rival, Enron Corp., Dynegy has also expanded via \nacquisitions into broadband telecommunications. (Dynegy also competes with \nHouston-based Reliant Energy and Charlotte, N.C.-based Duke Energy.) \nBoth Enron and Dynegy see a big opportunity in broadband, given that there \nare few other suppliers and that managing its movement is akin to what's", "clipped": true, "phrase": "in Georgia, Kentucky and Louisiana that are expected to begin commercial", "path": "kean-s/all_documents/5039."}, "s474": {"from": "ann.schmidt@enron.com", "to": "", "subject": "Enron Mentions - 05/28/01 - 05/29/01", "text": "pipeline system. \nBut as California moved to deregulate its electric industry and encourage \ncompetition, the California Public Utilities Commission prodded the utilities \nto give up their capacity on the El Paso line. \nThat made room for other gas marketing firms to move in. \nHouston-based Dynegy held the rights to the pipeline capacity for a while. \nThen an Enron affiliate took a brief turn. \nIn February 2000, El Paso's pipeline arm, El Paso Natural Gas Co., opened the \nbidding again for about 1.2 billion cubic feet of pipeline capacity. \nThat space accounted for about one-third of the capacity of the El Paso line \nand about one-sixth of the total pipeline capacity running into California. \nAn El Paso affiliate, El Paso Merchant Energy Co., won the rights to that", "clipped": true, "phrase": "Houston-based Dynegy held the rights to the pipeline capacity for a while.", "path": "kean-s/all_documents/4732."}, "s475": {"from": "ann.schmidt@enron.com", "to": "", "subject": "Enron Mentions - 05/28/01 - 05/29/01", "text": "one-quarter of electric generators in California are fired by natural gas. \nIn making their case, California officials pointed to the difference between \ngas prices in the gas fields in the San Juan and Permian producing basins and \nin California at the other end of the El Paso line. \nThose price differentials began to widen while Dynegy held the capacity, \nstate officials said, only to expand dramatically after El Paso Merchant took \ncontrol. \nEl Paso Merchant admits significant portions of its capacity went unused. And \nthe company acknowledges it was not successful at finding other players to \ntake the space, despite the interest of several potential bidders. \nCalifornia officials insist the company only went through the motions of \ntrying to find other shippers to take the pipeline capacity because it wanted \nto limit supplies.", "clipped": true, "phrase": "Those price differentials began to widen while Dynegy held the capacity, \nstate officials said, only to expand dramatically after El Paso Merchant took \ncontrol.", "path": "kean-s/all_documents/4732."}, "s530": {"from": "steven.kean@enron.com", "to": "jeffrey.mcmahon@enron.com", "subject": "Enron Mentions", "text": "fizzled, as has its Middle East sour crude oil contract, which\ndebuted in May 2000.\n     ``I said yesterday, if you traded 100 to 200 contracts, that\nwould be a really a good day,'' said Chris Casale, vice president\nof energy trading at Dynegy Inc. in Houston, which trades coal and\nbuys the fuel for its six power plants in New York and Illinois.\n``It came out sort of on target.''\n     Most of today's trading was originated by large energy\nmarketing companies, he said, although he declined to say whether\nDynegy traded any contracts. Enron Corp., the largest energy\ntrader, and Duke Energy Corp., the largest U.S.-based utility\nholding company, have said they would trade coal futures.\n     Exchange officials have said the coal market has the", "clipped": true, "phrase": "buys the fuel for its six power plants in New York and Illinois.", "path": "kean-s/all_documents/8775."}, "s533": {"from": "steven.kean@enron.com", "to": "jeffrey.mcmahon@enron.com", "subject": "Enron Mentions", "text": "the past few years. Its six electricity futures contracts have\nfizzled, as has its Middle East sour crude oil contract, which\ndebuted in May 2000.\n     ``I said yesterday, if you traded 100 to 200 contracts, that\nwould be a really a good day,'' said Chris Casale, vice president\nof energy trading at Dynegy Inc. in Houston, which trades coal and\nbuys the fuel for its six power plants in New York and Illinois.\n``It came out sort of on target.''\n     Most of today's trading was originated by large energy\nmarketing companies, he said, although he declined to say whether\nDynegy traded any contracts. Enron Corp., the largest energy\ntrader, and Duke Energy Corp., the largest U.S.-based utility\nholding company, have said they would trade coal futures.", "clipped": true, "phrase": "of energy trading at Dynegy Inc. in Houston, which trades coal and", "path": "kean-s/sent_items/199."}, "s531": {"from": "steven.kean@enron.com", "to": "jeffrey.mcmahon@enron.com", "subject": "Enron Mentions", "text": "of energy trading at Dynegy Inc. in Houston, which trades coal and\nbuys the fuel for its six power plants in New York and Illinois.\n``It came out sort of on target.''\n     Most of today's trading was originated by large energy\nmarketing companies, he said, although he declined to say whether\nDynegy traded any contracts. Enron Corp., the largest energy\ntrader, and Duke Energy Corp., the largest U.S.-based utility\nholding company, have said they would trade coal futures.\n     Exchange officials have said the coal market has the\npotential to reach 5,000 trades a day after a year of trading.\n     The Nymex's 17-year-old crude oil futures contract averages\nabout 66,700 trades a day, and its 11-year-old natural gas\ncontract averages about 33,500.", "clipped": true, "phrase": "although he declined to say whether\nDynegy traded any contracts.", "path": "kean-s/all_documents/8775."}, "s532": {"from": "steven.kean@enron.com", "to": "jeffrey.mcmahon@enron.com", "subject": "Enron Mentions", "text": "The exchange, which earns commissions on trades, hopes coal\nfutures will avoid the fate of other contracts it has started over\nthe past few years. Its six electricity futures contracts have\nfizzled, as has its Middle East sour crude oil contract, which\ndebuted in May 2000.\n     ``I said yesterday, if you traded 100 to 200 contracts, that\nwould be a really a good day,'' said Chris Casale, vice president\nof energy trading at Dynegy Inc. in Houston, which trades coal and\nbuys the fuel for its six power plants in New York and Illinois.\n``It came out sort of on target.''\n     Most of today's trading was originated by large energy\nmarketing companies, he said, although he declined to say whether\nDynegy traded any contracts. Enron Corp., the largest energy\ntrader, and Duke Energy Corp., the largest U.S.-based utility", "clipped": true, "phrase": "``I said yesterday, if you traded 100 to 200 contracts, that\nwould be a really a good day,'' said Chris Casale, vice president", "path": "kean-s/sent_items/199."}, "s551": {"from": "f..calger@enron.com", "to": "louise.kitchen@enron.com", "subject": "Longview DASH", "text": "PPL Global:\t$15MM\nAES:\t\t$11MM\nEl Paso:\t$10MM\nSempra:\t$3MM\n\nWilliams and Allegheny showed us tolling bids.  Williams was below our desk mid ($5.50/kwmonth); Allegheny was not economic for our asset, but above our desk mid ($8.25/kwmonth).  We are countering to both with desk offers.\n\nNothing yet out of Duke or Dynegy, but they say they are working on it.  Everybody else is out (Mirant, Constellation, Entergy, FPL, PG&E, Orion, PSEG, Tractabel).\n\nI am obviously available at your convenience to discuss.\n\nRegards,\n\nChris Calger\n503-464-XXXX", "clipped": true, "phrase": "Nothing yet out of Duke or Dynegy, but they say they are working on it.", "path": "kitchen-l/_americas/portland/60."}, "s559": {"from": "f..calger@enron.com", "to": "louise.kitchen@enron.com", "subject": "FW: Hits on DealBench for Longview Energy", "text": "Overholt, William\t1\t\nSommer, Mike\t86\t\n\t\t\n\t\t\nDuke Energy\t\t\nAitken, Meredith\t6\t\nAllen, Scott\t5\t\nBarpal, Daniel\t11\t\nGarcia, Ramiro\t5\t\nHawkins, John\t21\t\nJohnson, Kevin\t5\t\nMorris, Andy\t31\t\nPeters, Mark\t16\t\nPoindexter, Mitch\t14\t\nPritchett, Jon\t13\t\nSotak, Michael\t4\t\nSwati, Daji\t4\t\nWybierala, Peter\t5\t\n\t\t\nDynegy\t\t\nAbshire, Christopher\t6\t\nBelcher, Ed\t1\t\nGrimberg, William\t4\t\nJackson, Julie\t3\t\nLessig, Wendy\t13\t\nMuncey, Steve\t4\t\nPenner, Laura\t5\t\nSharrick, Tom\t27\t\nTrevino, Suzanne\t1\t\n\t\t\n\t\t\n\t\t\nMirant\t\t\nCapomaccio, Steven\t10\t\nDavidson, Phillip\t14\t\nGarnto, Gerald\t2\t\nMoharani, Nader\t5\t\nOsterholt, Mark\t1\t\nShandalov, James\t3\t\nWang,Shirely\t10\t\n\t\t\nNRG\t\t\nAndreas, Dirk\t6\t\nLee, Joon\t2\t\nSmith, Rachel\t36\t\nRogers\t102\t\n\t\t\nReliant\t\t\nAnderson, Rick\t16\t\nBaumgartner, John\t2\t\nStidman, Megan\t21\t\nAnderson, Tyler\t80\t\n\nPatty Deas\nEnron North America\n503-464-XXXX", "clipped": true, "phrase": "Dynegy\t\t\nAbshire, Christopher\t6\t\nBelcher, Ed\t1\t\nGrimberg, William\t4\t\nJackson, Julie\t3\t\nLessig, Wendy\t13\t\nMuncey, Steve\t4\t\nPenner, Laura\t5\t\nSharrick, Tom\t27\t\nTrevino, Suzanne\t1", "path": "kitchen-l/_americas/portland/42."}, "s627": {"from": "ei_editor@ftenergy.com", "to": "einsighthtml@listserv.ftenergy.com", "subject": "Utilities slow to buy into ASP market", "text": "] [IMAGE]             [IMAGE] [IMAGE]   ExxonMobil earnings drop by over 20% full story...  IAEA director general addresses efforts to protect against nuclear terrorism full story...  New GHG accounting mechanisms proposed full story...  Enron looks to Citigroup for loan, report says full story...  Dynegy considers building two coal-fired plants full story...  Westcoast selling assets prior to Duke takeover full story...  Mirant completes deal with El Paso full story...  AES has no plans to alter CANTV bid full story...  GE to supply gas turbines for power plant expansion in Venezuela full story...  Kerr-McGee announces deepwater GOM gas discovery full story...  To view all of today's Executive News headlines,  click here             [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE]         [IMAGE] [IMAGE]  Co", "clipped": true, "phrase": "Dynegy considers building two coal-fired plants full story...", "path": "lenhart-m/deleted_items/292."}, "s647": {"from": "rahil.jafry@enron.com", "to": "louise.kitchen@enron.com", "subject": "FW:      Dynegy vs. Enron:  A Tale of Two Companies", "text": "ds of CEO Chuck Watson, \"Dynegy's long-term strategy is to focus on marketing and trading around physical assets, which supports earnings sustainability.\" Ever since going public in 1995, Dynegy has been on an acquisition binge, with each purchase significantly increasing its generation capability. Dynegy presently owns or controls about 27,000 MW of generating capacity in the United States, 26 gas-processing plants and 14,000 miles of pipelines, which are located in geographically competitive areas. The company's goal is to own or control 70,000 MW, or 10 percent of the U.S. market, within the next five years. Sometimes, Dynegy has acquired assets through partnerships with other companies such as NRG Energy, but just as often it has purchased assets independently. Most notably, when Dynegy acquired Illinova in early 2000, the purchase doubled Dynegy's generating capacity. Dynegy is now", "clipped": true, "phrase": "Dynegy presently owns or controls about 27,000 MW of generating capacity in the United States, 26 gas-processing plants and 14,000 miles of pipelines", "path": "kitchen-l/_americas/mrha/ooc/26."}, "s649": {"from": "rahil.jafry@enron.com", "to": "louise.kitchen@enron.com", "subject": "FW:      Dynegy vs. Enron:  A Tale of Two Companies", "text": "raphically competitive areas. The company's goal is to own or control 70,000 MW, or 10 percent of the U.S. market, within the next five years. Sometimes, Dynegy has acquired assets through partnerships with other companies such as NRG Energy, but just as often it has purchased assets independently. Most notably, when Dynegy acquired Illinova in early 2000, the purchase doubled Dynegy's generating capacity. Dynegy is now attempting to replicate this approach in Europe, where it is presently planning to purchase natural-gas storage facilities in England. Dynegy executives have argued that natural-gas storage is the best way to back up a natural-gas trading operation. There's no question that the approach is working. Out of the $286 million that Dynegy reported in the third quarter, $263 million of it came from the company's main wholesale business.", "clipped": true, "phrase": "Most notably, when Dynegy acquired Illinova in early 2000, the purchase doubled Dynegy's generating capacity.", "path": "kitchen-l/_americas/mrha/ooc/26."}, "s654": {"from": "rahil.jafry@enron.com", "to": "louise.kitchen@enron.com", "subject": "FW:      Dynegy vs. Enron:  A Tale of Two Companies", "text": "ns or controls about 27,000 MW of generating capacity in the United States, 26 gas-processing plants and 14,000 miles of pipelines, which are located in geographically competitive areas. The company's goal is to own or control 70,000 MW, or 10 percent of the U.S. market, within the next five years. Sometimes, Dynegy has acquired assets through partnerships with other companies such as NRG Energy, but just as often it has purchased assets independently. Most notably, when Dynegy acquired Illinova in early 2000, the purchase doubled Dynegy's generating capacity. Dynegy is now attempting to replicate this approach in Europe, where it is presently planning to purchase natural-gas storage facilities in England. Dynegy executives have argued that natural-gas storage is the best way to back up a natural-gas trading operation. There's no question that the approach is working. Out of the $286 million t", "clipped": true, "phrase": "Sometimes, Dynegy has acquired assets through partnerships with other companies such as NRG Energy, but just as often it has purchased assets independently.", "path": "kitchen-l/_americas/mrha/ooc/26."}, "s631": {"from": "issuealert@scientech.com", "to": "issuealerthtml@listserv.scientech.com", "subject": "Dynegy vs. Enron:  A Tale of Two Companies", "text": "ds of CEO Chuck Watson, \"Dynegy's long-term strategy is to focus on marketing and trading around physical assets, which supports earnings sustainability.\" Ever since going public in 1995, Dynegy has been on an acquisition binge, with each purchase significantly increasing its generation capability. Dynegy presently owns or controls about 27,000 MW of generating capacity in the United States, 26 gas-processing plants and 14,000 miles of pipelines, which are located in geographically competitive areas. The company's goal is to own or control 70,000 MW, or 10 percent of the U.S. market, within the next five years. Sometimes, Dynegy has acquired assets through partnerships with other companies such as NRG Energy, but just as often it has purchased assets independently. Most notably, when Dynegy acquired Illinova in early 2000, the purchase doubled Dynegy's generating capacity. Dynegy is now", "clipped": true, "phrase": "Dynegy presently owns or controls about 27,000 MW of generating capacity in the United States, 26 gas-processing plants and 14,000 miles of pipelines", "path": "kean-s/deleted_items/213."}, "s633": {"from": "issuealert@scientech.com", "to": "issuealerthtml@listserv.scientech.com", "subject": "Dynegy vs. Enron:  A Tale of Two Companies", "text": "petitive areas. The company's goal is to own or control 70,000 MW, or 10 percent of the U.S. market, within the next five years. Sometimes, Dynegy has acquired assets through partnerships with other companies such as NRG Energy, but just as often it has purchased assets independently. Most notably, when Dynegy acquired Illinova in early 2000, the purchase doubled Dynegy's generating capacity. Dynegy is now attempting to replicate this approach in Europe, where it is presently planning to purchase natural-gas storage facilities in England. Dynegy executives have argued that natural-gas storage is the best way to back up a natural-gas trading operation. There's no question that the approach is working. Out of the $286 million that Dynegy reported in the third quarter, $263 million of it came from the company's main wholesale business.", "clipped": true, "phrase": "when Dynegy acquired Illinova in early 2000, the purchase doubled Dynegy's generating capacity", "path": "kean-s/deleted_items/213."}, "s769": {"from": "karen.denne@enron.com", "to": "kenneth.lay@enron.com, mark.frevert@enron.com, jeffrey.mcmahon@enron.com,   \trick.buy@enron.com, richard.causey@enron.com,   \tjames.derrick@enron.com, j..kean@enron.com, mark.koenig@enron.com,   \twes.colwell@enron.com, paula.rieker@enron.co", "subject": "Merger News Articles", "text": "The new company will combine Enron's 25,000-mile natural gas pipeline system with the large number of power plants that Dynegy owns worldwide, as well as Illinois Power, a Dynegy subsidiary that serves 650,000 customers in Illinois. But its most important asset will be its trading desk. It will be the largest energy trader in the nation, trading more than twice as much power and natural gas as its closest competitors. \n\nMr. Watson said the company did not expect to sell significant properties and that the deal should pass regulatory scrutiny. ''There's really not a lot of overlap in assets,'' he said.", "clipped": true, "phrase": "as well as Illinois Power, a Dynegy subsidiary that serves 650,000 customers in Illinois.", "path": "kitchen-l/_americas/sec/19."}, "s935": {"from": "reagan.rorschach@enron.com", "to": "heather.kroll@enron.com, kay.mann@enron.com, rudy.acevedo@enron.com", "subject": "FW: NLR & Benton Purchase Power RFP", "text": "What We'd Like to Do With Dynegy:\n  _____  \n\nProvided we can win the project, we'd like to do the following:\n\nname generation to satisfy point #2\nuse Dynegy base load generation assets to dynamically schedule the NLR and Benton loads\nname Dynegy assets as network resources\n\nNote that we have not talked with Dynegy about any of this and any deal would be subject to mutual agreement and negotiation.\n\nReagan C. Rorschach\nEnron North America\n1400 Smith Street\nHouston, Texas 77002\n713.345.XXXX\n\n-----Original Message-----\nFrom: Gertsch, Joe [ <mailto:JGertsch@nlrelectric.com>]\nSent: Monday, November 12, 2001 5:10 PM\nTo: Rorschach, Reagan\nSubject: NLR & Benton Purchase Power RFP", "clipped": true, "phrase": "use Dynegy base load generation assets to dynamically schedule the NLR and Benton loads", "path": "mann-k/inbox/291."}, "s937": {"from": "reagan.rorschach@enron.com", "to": "kay.mann@enron.com, heather.kroll@enron.com, rudy.acevedo@enron.com", "subject": "RE: NLR & Benton Purchase Power RFP", "text": "What We'd Like to Do With Dynegy:\n\n  _____  \n\nProvided we can win the project, we'd like to do the following:\n\nname generation to satisfy point #2 \nuse Dynegy base load generation assets to dynamically schedule the NLR and Benton loads \nname Dynegy assets as network resources\n\nNote that we have not talked with Dynegy about any of this and any deal would be subject to mutual agreement and negotiation.\n\nReagan C. Rorschach\nEnron North America\n1400 Smith Street\nHouston, Texas 77002\n713.345.XXXX\n\n-----Original Message-----\nFrom: Gertsch, Joe [ <mailto:JGertsch@nlrelectric.com>]\nSent: Monday, November 12, 2001 5:10 PM\nTo: Rorschach, Reagan\nSubject: NLR & Benton Purchase Power RFP", "clipped": true, "phrase": "use Dynegy base load generation assets to dynamically schedule the NLR and Benton loads", "path": "mann-k/inbox/292."}, "s936": {"from": "reagan.rorschach@enron.com", "to": "heather.kroll@enron.com, kay.mann@enron.com, rudy.acevedo@enron.com", "subject": "FW: NLR & Benton Purchase Power RFP", "text": "What We'd Like to Do With Dynegy:\n  _____  \n\nProvided we can win the project, we'd like to do the following:\n\nname generation to satisfy point #2\nuse Dynegy base load generation assets to dynamically schedule the NLR and Benton loads\nname Dynegy assets as network resources\n\nNote that we have not talked with Dynegy about any of this and any deal would be subject to mutual agreement and negotiation.\n\nReagan C. Rorschach\nEnron North America\n1400 Smith Street\nHouston, Texas 77002\n713.345.XXXX\n\n-----Original Message-----\nFrom: Gertsch, Joe [ <mailto:JGertsch@nlrelectric.com>]\nSent: Monday, November 12, 2001 5:10 PM\nTo: Rorschach, Reagan\nSubject: NLR & Benton Purchase Power RFP\n\nReagan:\n\nAttached is the letter I promised regarding Enron's position relative to the\nother proposals.\n\nJoe Gertsch\n\n <<Enron  LTR.doc>>", "clipped": true, "phrase": "Note that we have not talked with Dynegy about any of this and any deal would be subject to mutual agreement and negotiation.", "path": "mann-k/inbox/291."}, "s938": {"from": "reagan.rorschach@enron.com", "to": "kay.mann@enron.com, heather.kroll@enron.com, rudy.acevedo@enron.com", "subject": "RE: NLR & Benton Purchase Power RFP", "text": "Reagan C. Rorschach \nEnron North America \n1400 Smith Street \nHouston, Texas 77002 \n713.345.XXXX \n\n-----Original Message-----\nFrom: Mann, Kay \nSent: Wednesday, November 14, 2001 9:01 AM\nTo: Rorschach, Reagan; Kroll, Heather; Acevedo, Rudy\nSubject: RE: NLR & Benton Purchase Power RFP\n\nIs your thought on the Dynegy role to have them contract with Enron, taking their profit in how they price OR enter into some type of joint venture/joint bidding arrangement?  I know you don't know what they might want to do, but I was curious as to your starting position.\n\n-----Original Message-----\nFrom: Rorschach, Reagan \nSent: Wednesday, November 14, 2001 8:52 AM\nTo: Kroll, Heather; Mann, Kay; Acevedo, Rudy\nSubject: FW: NLR & Benton Purchase Power RFP\n\nKay, attached is the letter from NLR regarding our proposal.\n\nSummary of the Cities of NLR and Benton, Arkansas deal:\n\n  _____", "clipped": true, "phrase": "Is your thought on the Dynegy role to have them contract with Enron, taking their profit in how they price OR enter into some type of joint venture/joint bidding arrangement?", "path": "mann-k/inbox/292."}, "s960": {"from": "brian.redmond@enron.com", "to": "louise.kitchen@enron.com", "subject": "Bridgeline", "text": "We wanted to review the impact of the merger on Bridgeline.  Specifically, the potential benefits for putting in place an asset management structure for BHLP.   Dynegy has expressed interest in commercially managing these assets and Enron would to, if we would not have to pay an excessive fee to do so.   Jean's initial analysis indicates that Bridgeline is currently undervaluing the accrual value of the pipe and over-valuing trading.  We may be able to use this fact to our advantage in establishing a \"low\" asset management fee to pay to Bridgeline.", "clipped": true, "phrase": "Dynegy has expressed interest in commercially managing these assets and Enron would to, if we would not have to pay an excessive fee to do so.", "path": "kitchen-l/_americas/bridgeline/2."}, "s961": {"from": "brian.redmond@enron.com", "to": "louise.kitchen@enron.com", "subject": "Bridgeline", "text": "We have continued to discuss this with the Chev/Tex board members who remain interested in evaluating the benefits of this structure.  In their view, the Dynegy/Enron merger is a positive fact because it removes the Dynegy vs. Enron competition.\n\nWhen you get a chance we can talk.\n\nBrian", "clipped": true, "phrase": "the Dynegy/Enron merger is a positive fact because it removes the Dynegy vs. Enron competition", "path": "kitchen-l/_americas/bridgeline/2."}, "s1478": {"from": "laura.luce@enron.com", "to": "louise.kitchen@enron.com, john.lavorato@enron.com", "subject": "Peoples Energy/UBS", "text": "My team believed in a business model and followed through in relocating their families, setting up a business with a \"real\" customer (that Enron all to often discounted) and created something that a significant list of third parties want to buy (BP Amoco, Oxy, Sempra, PanCanadian, El Paso, Sempra, CMS, Duke, and Dynegy).  This relationship has created over $130MM dollars of MTM for Enron without consideration of the information trading obtained.  This was not a transaction, but a business.  \n \nMy recommendation for Gregg and Richard is to immediately provide an offer that requires a non-compete of 1 year with consideration of $60,000 at 6 months and $60,000 at one year, with the promise of stock in year 2.", "clipped": true, "phrase": "created something that a significant list of third parties want to buy (BP Amoco, Oxy, Sempra, PanCanadian, El Paso, Sempra, CMS, Duke, and Dynegy)", "path": "kitchen-l/_americas/netco_hr/60."}, "cf89-0": {"from": "kay.mann@enron.com", "to": "reagan.rorschach@enron.com", "subject": "Re: Exhibits", "text": "I'll work on them over the weekend. From: Reagan Rorschach/ENRON@enronXgate on 06/01/2001 02:49 PM To: Kay Mann/Corp/Enron@Enron cc: Subject: Exhibits Kay, Rough form. Have a look Reagan C. Rorschach Enron North America 1400 Smith Street Houston, Texas 77002 713.345.XXXX", "clipped": false, "phrase": "From: Reagan Rorschach/ENRON@enronXgate on 06/01/2001 02:49 PM To: Kay Mann/Corp/Enron@Enron", "path": "mann-k/_sent_mail/100.", "context": "Reagan who works with Kay Mann is Reagan Rorschach"}, "cf188-0": {"from": "richard.shapiro@enron.com", "to": "steven.kean@enron.com", "subject": "EFET draft security of supply paper", "text": "also hydro (20%), while conventional thermal generation represents 10%. EDF is a vertically integrated company with services and products in generation (92%), supply (?%), transmission and distribution (95%). Finally, this historical supplier is a State Entity; the French State owns EDF\u0001,s capital. A few Independent Power Producers (IPP) are also active in the market, such as Snet (6.4TWh, coal-fired), and CNR (16TWh, hydro). Other smaller IPPs are commercially active but most must sell their production to EDF under a regulated tariff. More than 100 distribution companies are active through a concession regime in their local distribution area. Few, however, are of a significant size (less than a dozen have sales of over 400 GWhs), or have eligible customers in their concession areas. The French System Operator (RTE) was created on 1 July 2000 and is a sub-division of EDF, although it is ", "clipped": true, "phrase": "A few Independent Power Producers (IPP) are also active in the market", "path": "kean-s/all_documents/9003.", "context": "IPP expands to independent power producers"}, "cf256-0": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions - 11/09/01-11/10/01", "text": "'s and ChevronTexaco's cash infusion, the money will go to an Enron unit that owns the Northern Natural Gas Pipeline. If the merger is not completed, Dynegy will have the right to buy the unit. An army of bankers and lawyers advised the companies. Lehman Brothers Inc. acted as financial adviser and Baker Botts and Akin, Gump, Strauss, Hauer & Feld acted as counsel for Dynegy. J. P. Morgan & Company and Salomon Smith Barney acted as financial advisers for Enron, and Vinson & Elkins and Weil Gotshal & Manges acted as the company's counsel. Pillsbury Winthrop served as counsel to ChevronTexaco. Chart: ''A Marriage of Strength and Weakness'' A merger of Enron and Dynegy would bring together two of the country's biggest energy companies -- and save Enron from potential collapse. Graph tracks the weekly closes of Enron shares from 1999 through 2001. Top North American gas marketers SALES, OF B", "clipped": true, "phrase": "Baker Botts and Akin, Gump, Strauss, Hauer & Feld acted as counsel for Dynegy", "path": "kitchen-l/_americas/sec_media/40.", "context": "Baker Botts is Dynegy's counsel"}, "cf478-0": {"from": "tana.jones@enron.com", "to": "kkp2@pge.com", "subject": "NA PA & ETA", "text": "----- Forwarded by Tana Jones/HOU/ECT on 06/20/2000 05:13 PM ----- Frank L Davis 06/20/2000 05:11 PM To: Tana Jones/HOU/ECT@ECT cc: Subject: NA PA & ETA Tana, Attached below is the latest version of the North American Password Application and Electronic Trading Agreement. Let me know if you have any questions. Thanks! Frank", "clipped": false, "phrase": "Attached below is the latest version of the North American Password Application and Electronic Trading Agreement", "path": "jones-t/all_documents/2200.", "context": "ETA is Electronic Trading Agreement"}, "cf479-0": {"from": "tana.jones@enron.com", "to": "frank.davis@enron.com", "subject": "EOL Customer Review", "text": ": Tana Jones/HOU/ECT@ECT cc: Subject: EOL Customer Review ---------------------- Forwarded by Mark Taylor/HOU/ECT on 11/29/99 09:56 AM --------------------------- Frank L Davis 11/20/99 01:00 PM To: Mark Taylor/HOU/ECT@ECT cc: Subject: EOL Customer Review Mark, The City Of Riverside has mailed in a password application form to trade on EnronOnline (EOL). This customer is considered a \"muni\" and we need to know if there are any legal restrictions (by product type) that would keep them from trading on EOL. We would like to respond back to this customer as soon as we receive approval/rejection back from our legal, credit, and tax departments. Please contact me with any questions. Thanks for your help! Frank", "clipped": true, "phrase": "password application form to trade on EnronOnline (EOL)", "path": "jones-t/all_documents/511.", "context": "EOL is EnronOnline"}, "cf483-0": {"from": "tana.jones@enron.com", "to": "kkp2@pge.com", "subject": "NA PA & ETA", "text": "----- Forwarded by Tana Jones/HOU/ECT on 06/20/2000 05:13 PM ----- Frank L Davis 06/20/2000 05:11 PM To: Tana Jones/HOU/ECT@ECT cc: Subject: NA PA & ETA Tana, Attached below is the latest version of the North American Password Application and Electronic Trading Agreement. Let me know if you have any questions. Thanks! Frank", "clipped": false, "phrase": "Attached below is the latest version of the North American Password Application and Electronic Trading Agreement", "path": "jones-t/all_documents/2200.", "context": "ETA is Electronic Trading Agreement"}, "cf496-0": {"from": "tana.jones@enron.com", "to": "kkp2@pge.com", "subject": "NA PA & ETA", "text": "----- Forwarded by Tana Jones/HOU/ECT on 06/20/2000 05:13 PM ----- Frank L Davis 06/20/2000 05:11 PM To: Tana Jones/HOU/ECT@ECT cc: Subject: NA PA & ETA Tana, Attached below is the latest version of the North American Password Application and Electronic Trading Agreement. Let me know if you have any questions. Thanks! Frank", "clipped": false, "phrase": "Attached below is the latest version of the North American Password Application and Electronic Trading Agreement", "path": "jones-t/all_documents/2200.", "context": "ETA is Electronic Trading Agreement"}, "cf497-0": {"from": "tana.jones@enron.com", "to": "jeffrey.hodge@enron.com", "subject": "I believe these are yours", "text": "m USD/MMBtu FIRM TRANSPORTATION A transaction with Transwestern Pipeline Company (\u0001&Transwestern\u00018) under which Transwestern will transport, on a firm basis, a maximum daily volume (stated in MMBtu per day) equal to the volume identified on the Website. Customer agrees that this Transaction will be governed by the terms contained within the online General Terms and Conditions (GTC). The term of the Transaction shall correspond to the date(s) set forth in the Product description on the Website. This Transaction provides firm pipeline transportation capacity from the primary receipt point of [Michelle to supply point name and POI #] to the primary delivery point of [Michelle to supply]. The posted rate, stated in USD/MMBtu on the Website, is a daily one-part rate, inclusive of all applicable reservation, commodity and surcharge rates. The total charge for the month will equal the posted ra", "clipped": true, "phrase": "governed by the terms contained within the online General Terms and Conditions (GTC)", "path": "jones-t/all_documents/9215.", "context": "GTC is General Terms and Conditions"}, "cf512-0": {"from": "tana.jones@enron.com", "to": "frank.davis@enron.com", "subject": "EOL Customer Review", "text": ": Tana Jones/HOU/ECT@ECT cc: Subject: EOL Customer Review ---------------------- Forwarded by Mark Taylor/HOU/ECT on 11/29/99 09:56 AM --------------------------- Frank L Davis 11/20/99 01:00 PM To: Mark Taylor/HOU/ECT@ECT cc: Subject: EOL Customer Review Mark, The City Of Riverside has mailed in a password application form to trade on EnronOnline (EOL). This customer is considered a \"muni\" and we need to know if there are any legal restrictions (by product type) that would keep them from trading on EOL. We would like to respond back to this customer as soon as we receive approval/rejection back from our legal, credit, and tax departments. Please contact me with any questions. Thanks for your help! Frank", "clipped": true, "phrase": "password application form to trade on EnronOnline (EOL)", "path": "jones-t/all_documents/511.", "context": "EOL is EnronOnline"}, "cf514-0": {"from": "enron.announcements@enron.com", "to": "ena.employees@enron.com", "subject": "Re-Alignment", "text": "r the successful business models in Calgary and Portland, effective immediately the following changes are being implemented: a) East Power \u0001) a single East Power Team incorporating trading, mid-market and origination will be formed under the co-leadership of Kevin Presto and Janet Dietrich who will report to the Enron Americas - Office of the Chairman (EA OOC). This team will have one income statement, one book and a joint accountability. However, a clear delineation of responsibilities inside these teams will continue to exist in which the trading organization will manage the risk, income statement and product development aspects of the partnership. The originators will have the primary responsibility to generate origination income, provide coverage, deal flow, lead strategy formulation, provide information and generate strategic positions. Overall, the team will be rewarded based upon ", "clipped": true, "phrase": "report to the Enron Americas - Office of the Chairman (EA OOC)", "path": "mann-k/all_documents/2767.", "context": "EA is Enron Americas"}, "cf526-0": {"from": "alan.comnes@enron.com", "to": "jeff.dasovich@enron.com", "subject": "Re: Governor's Response to FERC", "text": "n good conscience, however, forego any measure that would serve to protect the people of California until I am satisfied that the sellers in the wholesale markets will not victimize Californians again. Since our meeting in San Diego, several things have occurred which influence my current thinking. On November 20, 2000 the California Energy Commission (CEC) published the results of a detailed bottom-up study of available electricity supply for 2001. It shows that -- taking into account expected load growth, firm and dynamically scheduled imports, and new supply already under construction or under contract -- California should be able to avoid emergencies if supplies are properly managed and scheduled. This presumes, of course, no gaming or withholding by sellers in wholesale markets and an absence of panic buying. But the CEC study also shows that supplies are sufficiently tight that mar", "clipped": true, "phrase": "On November 20, 2000 the California Energy Commission (CEC) published the results", "path": "kean-s/all_documents/2104.", "context": "CEC is the California Energy Commission"}, "cf596-0": {"from": "jeff.dasovich@enron.com", "to": "j..kean@enron.com, richard.shapiro@enron.com, karen.denne@enron.com,   \tsusan.mara@enron.com, paul.kaufman@enron.com,   \tmichael.tribolet@enron.com, karen.denne@enron.com,   \tpr <.palmer@enron.com>, linda.robertson@enron.com,   \tm..landwehr", "subject": "LA Times Story on Bad DWR Long-term Contracts", "text": "he agreements. When the state began negotiating contracts, California had just suffered two days of rotating blackouts. The contracts tamed the market and eliminated the blackout threat, he said. \"Insurance is insurance, and it costs a little bit,\" said Freeman, \"but it's a good thing to have.\" But William B. Marcus, chief economist for JBS Energy, which conducted the three-month study, noted that at least one of the most troublesome agreements was signed in July--weeks after the market had stabilized and prices had declined. The study of the contracts was sponsored by the Center for Energy Efficiency and Renewable Technologies and was financed by a $200,000 grant from the San Francisco-based Energy Foundation. It was conducted by JBS, a consulting group. The study singled out for criticism: * A deal with Sempra Energy, parent company to San Diego Gas & Electric, which Marcus called the ", "clipped": true, "phrase": "William B. Marcus, chief economist for JBS Energy, which conducted the three-month study", "path": "kean-s/california/1963.", "context": "Marcus is chief economist of JBS Energy, which did the study"}, "cf632-0": {"from": "richard.sanders@enron.com", "to": "christian.yoder@enron.com", "subject": "Re: Mid-C control area abuse", "text": " To: Tim Belden/HOU/ECT@ECT, Elizabeth Sager/HOU/ECT@ECT cc: Richard B Sanders/HOU/ECT@ECT, Sean Crandall/PDX/ECT@ECT, Diana Scholtes/HOU/ECT@ECT Subject: Mid-C control area abuse Sean and I talked through the Mid-C control area abuse (Puget and WWP's refusal to honor Mid-C sales not sunk at Mid-C) with Dan Watkiss of Bracewell Patterson. After \"sinking\" his mind into the facts, Dan was of the view that a two pronged legal approach could be taken: 1. take one of our apparently frequent direct purchases from Puget at Mid-C as a test case and when Puget refuses to honor the schedule which requires it to be sunk at COB, sue them in a state court, and 2. bring a complaint against Puget at Ferc allegding conduct in breach of the Federal Power Act. There is enough wrong about this situation to cause Dan to say that both actions were potentially available. The real issue now is, do we want to d", "clipped": true, "phrase": "with Dan Watkiss of Bracewell Patterson", "path": "sanders-r/all_documents/3741.", "context": "Watkiss, the recipient, is with Bracewell Patterson"}, "cf643-0": {"from": "susan.mara@enron.com", "to": "alan.comnes@enron.com, angela.schwarz@enron.com, beverly.aden@enron.com,   \tbill.votaw@enron.com, brenda.barreda@enron.com,   \tcarol.moffett@enron.com, cathy.corbin@enron.com,   \tchris.foster@enron.com, christina.liscano@enron.com,   \tchris", "subject": "Power producers accused of gouging -- Rumored ISO Report Comes out", "text": "lion, or 21 percent, of the energy it bought in December and $315 million, or 63 percent, of the energy it bought in January. Total energy costs for those two months were more than $11 billion, compared with $7 billion for all of 1999, Sheffrin said. \"This is a wonderful step for the ISO to take,'' said state Sen. Joe Dunn, D-Santa Ana, who is on a Senate committee hoping to restructure the electricity market to prevent market manipulation. \"There have been many accusations, but none of them have chosen to act.\" The new ISO study looked at power production, the prevailing market conditions and the demand for energy and found that the cost of emergency electricity was far higher than it should have been, Sheffrin said. Further details of the study are expected to be released today. Sheffrin said ISO officials have asked the power producers to supply information that would help them determ", "clipped": true, "phrase": "said state Sen. Joe Dunn, D-Santa Ana, who is on a Senate committee", "path": "kean-s/all_documents/5702.", "context": "Dunn is a state senator"}, "c2f34-0": {"from": "peggy.mahoney@enron.com", "to": "karen.denne@enron.com, jeff.dasovich@enron.com, mark.palmer@enron.com,   \tsteven.kean@enron.com, jeannie.mandelker@enron.com,   \tjames.steffes@enron.com", "subject": "Industry News: Despite Woes In California, Other States Push   <B>Electricity</B> <B>De ...", "text": "Note the quote from Sibley - \"California is giving deregulation a bad name......\" Peggy ---------------------- Forwarded by Peggy Mahoney/HOU/EES on 08/11/2000 01:31 PM --------------------------- <fyi@mailman.enron.com> on 08/11/2000 10:19:49 AM To: <pmahoney@enron.com>, <meberts@enron.com>, <fwanders@enron.com> cc: Subject: Industry News: Despite Woes In California, Other States Push <B>Electricity</B> <B>De ... ------------------------------------------------------------------- E-mailed by: Dow Jones Interactive (R) Server Software Folder: Industry News ------------------------------------------------------------------- Headlines: Despite Woes In California, Other States Push <B>Electricity</B> <B>Deregulation</B> ------------------------------------------------------------------- Despite Woes In California, Other States Push <B>Electricity</B> <B>Deregulation</B> Aug. 10, 2000 Dow Jo", "clipped": true, "phrase": "Forwarded by Peggy Mahoney/HOU/EES on 08/11/2000 01:31 PM", "path": "kean-s/all_documents/1009.", "context": "Peggy is Enron's Peggy Mahoney"}, "c2f53-0": {"from": "the.buzz@enron.com", "to": "", "subject": "the Buzz, Friday, November 16, 2001 (Additions)", "text": "ancial Review and Outlook and Q&A session for easy access to needed information. Click here to listen to the conference call. Dynegy and Enron Investor Conference Call: In Monday morning's conference call, Dynegy and Enron executives reviewed the merger details and fielded questions from investors. Chuck Watson, Dynegy chairman and chief executive officer, reiterated the strength of Enron's core business units and the high level of integrity of the people working in the trenches. Watson and Ken Lay also spoke of the advantages that Enron's business units would bring to the new organization with Watson making specific note of EES. \"EES is three to five years ahead of Dynegy's retail unit\" and is an \"earnings contributor and growth engine that will continue in the combined company\" according to Watson. The conference call replay will be available until 5:00 p.m. EST, Monday, November 26. C", "clipped": true, "phrase": "Chuck Watson, Dynegy chairman and chief executive officer", "path": "kean-s/deleted_items/325.", "context": "Dynegy's Chuck is Chuck Watson"}, "c2f56-0": {"from": "mark.palmer@enron.com", "to": "richard.shapiro@enron.com, steven.kean@enron.com, jeff.dasovich@enron.com,   \trichard.sanders@enron.com, paul.kaufman@enron.com", "subject": "RE: FW: ANNOUNCEMENT: Notice of Press Conference today", "text": "ird quarter 2000 income, as compared to its third quarter 1999 figures. Profits from Defendant Dynegy's wholesale energy generating and trading division quadrupled to $141.9 million, which represented 80 percent of Dynegy's overall profits. \"This is the most successful quarter in Dynegy's history\", reported chairman and chief executive officer, Charles 'Chuck' Watson. Other defendants also obtained large windfall profits during this period. 49. Prior to deregulation, the historical cost to produce a megawatt hour of electricity in San Diego County was approximately $23-45 per MWh. During the Summer of 2000, defendants' conduct caused the Real Time Market price of wholesale electricity to frequently reach $750 per MWh, resulting in an approximate tripling of SDG&E customers' bills. 50. In its Order issued on November 1, 2000, FERC concluded that wholesale prices of electricity in Californ", "clipped": true, "phrase": "reported chairman and chief executive officer, Charles 'Chuck' Watson", "path": "kean-s/all_documents/2072.", "context": "Charles L. Watson is called Chuck"}, "c2f56-1": {"from": "ann.schmidt@enron.com", "to": "", "subject": "Enron Mentions - 05/26/01 - 05/27/01", "text": "th American General's compensation packages, Devlin will receive about $200 million in stock options and other incentives in 2001 as a result of American International Group's purchase of American General. Four of the six highest-paid executives in Houston are from Enron. But the highest-paid Enron executive is not Chairman Ken Lay. In fact, Lay made less money than three of his lieutenants because he received far fewer stock options. For example, Kenneth Rice, chairman and chief executive officer of Enron Broadband Services, one of Enron's business units, received more than twice as many options as Lay and Jeff Skilling, Enron's chief executive officer and president. Consequently, Rice was the second-highest-paid executive in Houston, taking home $47,375,588 in 2000. Lay, who was the sixth- highest-paid executive, earned $35,665,037. Max Watson, the former chairman and chief executive o", "clipped": true, "phrase": "executive is not Chairman Ken Lay", "path": "kean-s/all_documents/4731.", "context": "Kenneth L. Lay is called Ken Lay"}, "c2f88-0": {"from": "kay.mann@enron.com", "to": "kathleen.carnahan@enron.com", "subject": "Re: Panda Energy / ENA Confidentiality Agreements", "text": "l in error, please notify me by replying to this message and permanently delete the original and any copy of this e-mail and any printout thereof. ************************************************************** >>> <Kathleen.Carnahan@enron.com> 02/07/01 03:49PM >>> Fred Mitro asked me to forward you the electronic version of the Confidentiality Agreement for Panda Energy. It is my understanding that you want to have separate CA's with three of your project companies as well as one for Panda Energy, the parent company. Please contact me or Fred Mitro with your comments. (See attached file: Panda Energy International - Generation transaction Unilateral in favor of ENA.doc) Kathleen Carnahan Sr. Legal Specialist (713) 345-XXXX katheen.carnahan@enron.com", "clipped": true, "phrase": "the electronic version of the Confidentiality Agreement for Panda Energy. It is my understanding that you want to have separate CA's", "path": "mann-k/_sent_mail/1714.", "context": "CA means confidentiality agreement"}, "c2f89-0": {"from": "kay.mann@enron.com", "to": "reagan.rorschach@enron.com", "subject": "Re: Exhibits", "text": "I'll work on them over the weekend. From: Reagan Rorschach/ENRON@enronXgate on 06/01/2001 02:49 PM To: Kay Mann/Corp/Enron@Enron cc: Subject: Exhibits Kay, Rough form. Have a look Reagan C. Rorschach Enron North America 1400 Smith Street Houston, Texas 77002 713.345.XXXX", "clipped": false, "phrase": "Reagan C. Rorschach Enron North America 1400 Smith Street", "path": "mann-k/_sent_mail/100.", "context": "Reagan is Reagan Rorschach"}, "c2f99-0": {"from": "kay.mann@enron.com", "to": "kathleen.carnahan@enron.com", "subject": "Re: Panda Energy / ENA Confidentiality Agreements", "text": "l in error, please notify me by replying to this message and permanently delete the original and any copy of this e-mail and any printout thereof. ************************************************************** >>> <Kathleen.Carnahan@enron.com> 02/07/01 03:49PM >>> Fred Mitro asked me to forward you the electronic version of the Confidentiality Agreement for Panda Energy. It is my understanding that you want to have separate CA's with three of your project companies as well as one for Panda Energy, the parent company. Please contact me or Fred Mitro with your comments. (See attached file: Panda Energy International - Generation transaction Unilateral in favor of ENA.doc) Kathleen Carnahan Sr. Legal Specialist (713) 345-XXXX katheen.carnahan@enron.com", "clipped": true, "phrase": "the electronic version of the Confidentiality Agreement for Panda Energy. It is my understanding that you want to have separate CA's", "path": "mann-k/_sent_mail/1714.", "context": "CA means confidentiality agreement"}, "c2f100-0": {"from": "kay.mann@enron.com", "to": "kathleen.carnahan@enron.com", "subject": "Re: Panda Energy / ENA Confidentiality Agreements", "text": "l in error, please notify me by replying to this message and permanently delete the original and any copy of this e-mail and any printout thereof. ************************************************************** >>> <Kathleen.Carnahan@enron.com> 02/07/01 03:49PM >>> Fred Mitro asked me to forward you the electronic version of the Confidentiality Agreement for Panda Energy. It is my understanding that you want to have separate CA's with three of your project companies as well as one for Panda Energy, the parent company. Please contact me or Fred Mitro with your comments. (See attached file: Panda Energy International - Generation transaction Unilateral in favor of ENA.doc) Kathleen Carnahan Sr. Legal Specialist (713) 345-XXXX katheen.carnahan@enron.com", "clipped": true, "phrase": "the electronic version of the Confidentiality Agreement for Panda Energy. It is my understanding that you want to have separate CA's", "path": "mann-k/_sent_mail/1714.", "context": "CA means confidentiality agreement"}, "c2f101-0": {"from": "kay.mann@enron.com", "to": "kathleen.carnahan@enron.com", "subject": "Re: Panda Energy / ENA Confidentiality Agreements", "text": "l in error, please notify me by replying to this message and permanently delete the original and any copy of this e-mail and any printout thereof. ************************************************************** >>> <Kathleen.Carnahan@enron.com> 02/07/01 03:49PM >>> Fred Mitro asked me to forward you the electronic version of the Confidentiality Agreement for Panda Energy. It is my understanding that you want to have separate CA's with three of your project companies as well as one for Panda Energy, the parent company. Please contact me or Fred Mitro with your comments. (See attached file: Panda Energy International - Generation transaction Unilateral in favor of ENA.doc) Kathleen Carnahan Sr. Legal Specialist (713) 345-XXXX katheen.carnahan@enron.com", "clipped": true, "phrase": "the electronic version of the Confidentiality Agreement for Panda Energy. It is my understanding that you want to have separate CA's", "path": "mann-k/_sent_mail/1714.", "context": "CA means confidentiality agreement"}, "c2f108-0": {"from": "kay.mann@enron.com", "to": "kathleen.carnahan@enron.com", "subject": "Re: Panda Energy / ENA Confidentiality Agreements", "text": "l in error, please notify me by replying to this message and permanently delete the original and any copy of this e-mail and any printout thereof. ************************************************************** >>> <Kathleen.Carnahan@enron.com> 02/07/01 03:49PM >>> Fred Mitro asked me to forward you the electronic version of the Confidentiality Agreement for Panda Energy. It is my understanding that you want to have separate CA's with three of your project companies as well as one for Panda Energy, the parent company. Please contact me or Fred Mitro with your comments. (See attached file: Panda Energy International - Generation transaction Unilateral in favor of ENA.doc) Kathleen Carnahan Sr. Legal Specialist (713) 345-XXXX katheen.carnahan@enron.com", "clipped": true, "phrase": "the electronic version of the Confidentiality Agreement for Panda Energy. It is my understanding that you want to have separate CA's", "path": "mann-k/_sent_mail/1714.", "context": "CA means confidentiality agreement"}, "c2f109-0": {"from": "kay.mann@enron.com", "to": "kathleen.carnahan@enron.com", "subject": "Re: Panda Energy / ENA Confidentiality Agreements", "text": "l in error, please notify me by replying to this message and permanently delete the original and any copy of this e-mail and any printout thereof. ************************************************************** >>> <Kathleen.Carnahan@enron.com> 02/07/01 03:49PM >>> Fred Mitro asked me to forward you the electronic version of the Confidentiality Agreement for Panda Energy. It is my understanding that you want to have separate CA's with three of your project companies as well as one for Panda Energy, the parent company. Please contact me or Fred Mitro with your comments. (See attached file: Panda Energy International - Generation transaction Unilateral in favor of ENA.doc) Kathleen Carnahan Sr. Legal Specialist (713) 345-XXXX katheen.carnahan@enron.com", "clipped": true, "phrase": "the electronic version of the Confidentiality Agreement for Panda Energy. It is my understanding that you want to have separate CA's", "path": "mann-k/_sent_mail/1714.", "context": "CA means confidentiality agreement"}, "c2f142-0": {"from": "mark.palmer@enron.com", "to": "richard.shapiro@enron.com, steven.kean@enron.com, jeff.dasovich@enron.com,   \trichard.sanders@enron.com, paul.kaufman@enron.com", "subject": "RE: FW: ANNOUNCEMENT: Notice of Press Conference today", "text": "ird quarter 2000 income, as compared to its third quarter 1999 figures. Profits from Defendant Dynegy's wholesale energy generating and trading division quadrupled to $141.9 million, which represented 80 percent of Dynegy's overall profits. \"This is the most successful quarter in Dynegy's history\", reported chairman and chief executive officer, Charles 'Chuck' Watson. Other defendants also obtained large windfall profits during this period. 49. Prior to deregulation, the historical cost to produce a megawatt hour of electricity in San Diego County was approximately $23-45 per MWh. During the Summer of 2000, defendants' conduct caused the Real Time Market price of wholesale electricity to frequently reach $750 per MWh, resulting in an approximate tripling of SDG&E customers' bills. 50. In its Order issued on November 1, 2000, FERC concluded that wholesale prices of electricity in Californ", "clipped": true, "phrase": "reported chairman and chief executive officer, Charles 'Chuck' Watson", "path": "kean-s/all_documents/2072.", "context": "Charles L. Watson is called Chuck"}, "c2f149-0": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions - 11/09/01-11/10/01", "text": " right to buy all of Northern Natural Gas. At the deal's closing, ChevronTexaco will provide another $1 billion to the combined company. Enron will have the right to designate at least three board members for the combined company, which will have 14 board seats. Steve Bergstrom, Dynegy's president, and Rob Doty, Dynegy's chief financial officer, will keep those roles in the new company. Greg Whalley, currently president and chief operating officer of Enron, will become an executive vice president at the combined company. The deal contains a $350 million breakup fee that Dynegy would get if another suitor came in and Enron decided to take a better offer. Watson also said the deal contains escape clauses to protect Dynegy should it be necessary, but he doesn't expect any surprises. \"We looked under the hood and guess what, it's just as strong as we thought it was,\" he said. The deal must b", "clipped": true, "phrase": "and Rob Doty, Dynegy's chief financial officer, will keep those roles", "path": "kitchen-l/_americas/sec_media/40.", "context": "Dynegy CFO Doty is Rob Doty"}, "c2f155-0": {"from": "mark.palmer@enron.com", "to": "richard.shapiro@enron.com, steven.kean@enron.com, jeff.dasovich@enron.com,   \trichard.sanders@enron.com, paul.kaufman@enron.com", "subject": "RE: FW: ANNOUNCEMENT: Notice of Press Conference today", "text": "ird quarter 2000 income, as compared to its third quarter 1999 figures. Profits from Defendant Dynegy's wholesale energy generating and trading division quadrupled to $141.9 million, which represented 80 percent of Dynegy's overall profits. \"This is the most successful quarter in Dynegy's history\", reported chairman and chief executive officer, Charles 'Chuck' Watson. Other defendants also obtained large windfall profits during this period. 49. Prior to deregulation, the historical cost to produce a megawatt hour of electricity in San Diego County was approximately $23-45 per MWh. During the Summer of 2000, defendants' conduct caused the Real Time Market price of wholesale electricity to frequently reach $750 per MWh, resulting in an approximate tripling of SDG&E customers' bills. 50. In its Order issued on November 1, 2000, FERC concluded that wholesale prices of electricity in Californ", "clipped": true, "phrase": "reported chairman and chief executive officer, Charles 'Chuck' Watson", "path": "kean-s/all_documents/2072.", "context": "Charles L. Watson is called Chuck"}, "c2f163-0": {"from": "m..schmidt@enron.com", "to": "karen.denne@enron.com, pr <.palmer@enron.com>, meredith.philipp@enron.com,   \tvance.meyer@enron.com, j..kean@enron.com, pat.radford@enron.com,   \tleslie.hiltabrand@enron.com", "subject": "Enron Employees Watch Their Options Devalue as Shares Fall", "text": "Monday that the Securities and Exchange Commission was asking questions about partnerships run by Andrew Fastow, who was ousted as Enron's chief financial officer yesterday. One partnership cost the company $35 million, and Enron bought back 62 million shares from another at a cost of $1.2 billion. Enron named Jeff McMahon, head of its industrial markets group, as CFO late yesterday. Unvested Options Another 96.1 million options granted to Enron employees hadn't vested as of the end of last year. About 15.4 million of them, or 16 percent, were at prices ranging from $6.88 to $20 a share. The rest vest at levels well above the current share price. Experts who have watched the devaluation of stock options in other industries, such as technology and telecommunications, say it becomes demoralizing for workers to watch share prices fall below their options. ``It looks bad,'' said Mark Edwards", "clipped": true, "phrase": "Enron named Jeff McMahon, head of its industrial markets group, as CFO", "path": "kean-s/deleted_items/199.", "context": "Enron's McMahon is Jeff McMahon"}, "c2f188-0": {"from": "richard.shapiro@enron.com", "to": "steven.kean@enron.com", "subject": "EFET draft security of supply paper", "text": "also hydro (20%), while conventional thermal generation represents 10%. EDF is a vertically integrated company with services and products in generation (92%), supply (?%), transmission and distribution (95%). Finally, this historical supplier is a State Entity; the French State owns EDF\u0001,s capital. A few Independent Power Producers (IPP) are also active in the market, such as Snet (6.4TWh, coal-fired), and CNR (16TWh, hydro). Other smaller IPPs are commercially active but most must sell their production to EDF under a regulated tariff. More than 100 distribution companies are active through a concession regime in their local distribution area. Few, however, are of a significant size (less than a dozen have sales of over 400 GWhs), or have eligible customers in their concession areas. The French System Operator (RTE) was created on 1 July 2000 and is a sub-division of EDF, although it is ", "clipped": true, "phrase": "A few Independent Power Producers (IPP) are also active in the market", "path": "kean-s/all_documents/9003.", "context": "IPP means independent power producer"}, "c2f256-0": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions - 11/09/01-11/10/01", "text": "'s and ChevronTexaco's cash infusion, the money will go to an Enron unit that owns the Northern Natural Gas Pipeline. If the merger is not completed, Dynegy will have the right to buy the unit. An army of bankers and lawyers advised the companies. Lehman Brothers Inc. acted as financial adviser and Baker Botts and Akin, Gump, Strauss, Hauer & Feld acted as counsel for Dynegy. J. P. Morgan & Company and Salomon Smith Barney acted as financial advisers for Enron, and Vinson & Elkins and Weil Gotshal & Manges acted as the company's counsel. Pillsbury Winthrop served as counsel to ChevronTexaco. Chart: ''A Marriage of Strength and Weakness'' A merger of Enron and Dynegy would bring together two of the country's biggest energy companies -- and save Enron from potential collapse. Graph tracks the weekly closes of Enron shares from 1999 through 2001. Top North American gas marketers SALES, OF B", "clipped": true, "phrase": "Baker Botts and Akin, Gump, Strauss, Hauer & Feld acted as counsel for Dynegy", "path": "kitchen-l/_americas/sec_media/40.", "context": "Baker Botts is Dynegy's counsel"}, "c2f264-0": {"from": "ann.schmidt@enron.com", "to": "", "subject": "Enron Mentions - 05/26/01 - 05/27/01", "text": "th American General's compensation packages, Devlin will receive about $200 million in stock options and other incentives in 2001 as a result of American International Group's purchase of American General. Four of the six highest-paid executives in Houston are from Enron. But the highest-paid Enron executive is not Chairman Ken Lay. In fact, Lay made less money than three of his lieutenants because he received far fewer stock options. For example, Kenneth Rice, chairman and chief executive officer of Enron Broadband Services, one of Enron's business units, received more than twice as many options as Lay and Jeff Skilling, Enron's chief executive officer and president. Consequently, Rice was the second-highest-paid executive in Houston, taking home $47,375,588 in 2000. Lay, who was the sixth- highest-paid executive, earned $35,665,037. Max Watson, the former chairman and chief executive o", "clipped": true, "phrase": "executive is not Chairman Ken Lay", "path": "kean-s/all_documents/4731.", "context": "Kenneth Lay is called Ken Lay"}, "c2f267-0": {"from": "mark.palmer@enron.com", "to": "richard.shapiro@enron.com, steven.kean@enron.com, jeff.dasovich@enron.com,   \trichard.sanders@enron.com, paul.kaufman@enron.com", "subject": "RE: FW: ANNOUNCEMENT: Notice of Press Conference today", "text": "ird quarter 2000 income, as compared to its third quarter 1999 figures. Profits from Defendant Dynegy's wholesale energy generating and trading division quadrupled to $141.9 million, which represented 80 percent of Dynegy's overall profits. \"This is the most successful quarter in Dynegy's history\", reported chairman and chief executive officer, Charles 'Chuck' Watson. Other defendants also obtained large windfall profits during this period. 49. Prior to deregulation, the historical cost to produce a megawatt hour of electricity in San Diego County was approximately $23-45 per MWh. During the Summer of 2000, defendants' conduct caused the Real Time Market price of wholesale electricity to frequently reach $750 per MWh, resulting in an approximate tripling of SDG&E customers' bills. 50. In its Order issued on November 1, 2000, FERC concluded that wholesale prices of electricity in Californ", "clipped": true, "phrase": "reported chairman and chief executive officer, Charles 'Chuck' Watson", "path": "kean-s/all_documents/2072.", "context": "Charles L. Watson is called Chuck"}, "c2f269-0": {"from": "ann.schmidt@enron.com", "to": "", "subject": "Enron Mentions - 05/26/01 - 05/27/01", "text": "th American General's compensation packages, Devlin will receive about $200 million in stock options and other incentives in 2001 as a result of American International Group's purchase of American General. Four of the six highest-paid executives in Houston are from Enron. But the highest-paid Enron executive is not Chairman Ken Lay. In fact, Lay made less money than three of his lieutenants because he received far fewer stock options. For example, Kenneth Rice, chairman and chief executive officer of Enron Broadband Services, one of Enron's business units, received more than twice as many options as Lay and Jeff Skilling, Enron's chief executive officer and president. Consequently, Rice was the second-highest-paid executive in Houston, taking home $47,375,588 in 2000. Lay, who was the sixth- highest-paid executive, earned $35,665,037. Max Watson, the former chairman and chief executive o", "clipped": true, "phrase": "executive is not Chairman Ken Lay", "path": "kean-s/all_documents/4731.", "context": "Kenneth Lay is called Ken Lay"}, "c2f270-0": {"from": "m..schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "al and administrative costs in broadband to $40 million a quarter and is on track to reach that goal next year, he said. It could cut those costs even more in order to sustain the business. Meanwhile, the company is trying to determine which parts of the telecom business it wants to be in, he said. Enron President and Chief Operating Officer Greg Whalley told analysts the company needs to determine how much network and hardware it needs. At one time, they had thought that they wanted to use physical network assets as a springboard, Whalley said. Now they \"wouldn't want to forever be in the network business.\" Both executives mentioned the possibility of joint ventures in telecom. Lay said other companies are asking Enron to do them. Whalley said the company has talked about exchanging fiber and other assets. The one part of the telecom business Enron still seems committed to is broadband ", "clipped": true, "phrase": "Enron President and Chief Operating Officer Greg Whalley told analysts", "path": "kean-s/deleted_items/106.", "context": "Whalley is Enron's"}, "c2f281-0": {"from": "ann.schmidt@enron.com", "to": "", "subject": "Enron Mentions - 05/26/01 - 05/27/01", "text": "th American General's compensation packages, Devlin will receive about $200 million in stock options and other incentives in 2001 as a result of American International Group's purchase of American General. Four of the six highest-paid executives in Houston are from Enron. But the highest-paid Enron executive is not Chairman Ken Lay. In fact, Lay made less money than three of his lieutenants because he received far fewer stock options. For example, Kenneth Rice, chairman and chief executive officer of Enron Broadband Services, one of Enron's business units, received more than twice as many options as Lay and Jeff Skilling, Enron's chief executive officer and president. Consequently, Rice was the second-highest-paid executive in Houston, taking home $47,375,588 in 2000. Lay, who was the sixth- highest-paid executive, earned $35,665,037. Max Watson, the former chairman and chief executive o", "clipped": true, "phrase": "executive is not Chairman Ken Lay", "path": "kean-s/all_documents/4731.", "context": "Kenneth Lay is called Ken Lay"}, "c2f285-0": {"from": "ann.schmidt@enron.com", "to": "", "subject": "Enron Mentions - 05/26/01 - 05/27/01", "text": "th American General's compensation packages, Devlin will receive about $200 million in stock options and other incentives in 2001 as a result of American International Group's purchase of American General. Four of the six highest-paid executives in Houston are from Enron. But the highest-paid Enron executive is not Chairman Ken Lay. In fact, Lay made less money than three of his lieutenants because he received far fewer stock options. For example, Kenneth Rice, chairman and chief executive officer of Enron Broadband Services, one of Enron's business units, received more than twice as many options as Lay and Jeff Skilling, Enron's chief executive officer and president. Consequently, Rice was the second-highest-paid executive in Houston, taking home $47,375,588 in 2000. Lay, who was the sixth- highest-paid executive, earned $35,665,037. Max Watson, the former chairman and chief executive o", "clipped": true, "phrase": "executive is not Chairman Ken Lay", "path": "kean-s/all_documents/4731.", "context": "Kenneth Lay is called Ken Lay"}, "c2f286-0": {"from": "courtney.votaw@enron.com", "to": "", "subject": "Enron Mentions", "text": "partment of Justice and Federal Trade Commission. And the Illinois Commerce Commission likely would weigh into the mix, since Dynegy owns Illinova's Illinois Power Co. Any effort to strike a deal quickly also could be complicated by Enron's ownership of Portland General Electric Co. While Enron has entered into an agreement to sell the utility to Northwest Natural Gas Co. (NWN), a previous attempt to sell the company fell through because of regulatory complications. A key issue for federal regulators scrutinizing a potential Enron-Dynegy merger will be the degree of electricity market concentration such a transaction would entail, the attorneys said. Financially wounded Enron is the nation's largest electricity and natural gas trader with an extensive network of gas pipelines. Dynegy is ranked sixth nationally in both electricity and natural gas marketing. The transaction would receive t", "clipped": true, "phrase": "entered into an agreement to sell the utility to Northwest Natural Gas Co. (NWN)", "path": "kitchen-l/_americas/sec_media/43.", "context": "NWN is Northwest Natural"}, "c2f286-1": {"from": "gary.peng@enron.com", "to": "charles.cheek@enron.com, robert.eickenroht@enron.com, b..sanders@enron.com,   \te..sommers@enron.com, carol.howes@enron.com", "subject": "", "text": "ember 10, 2001. No cases have yet been scheduled for trial in the Superior Court. Although no assurances can be given, Enron believes that the ultimate resolution of these matters will not have a material adverse effect on its financial position or results of operations. Trojan Investment Recovery. In early 1993, Portland General Electric (PGE) ceased commercial operation of the Trojan nuclear power generating facility. The Oregon Public Utility Commission (OPUC) granted PGE, through a general rate order, recovery of, and a return on, 87 percent of its remaining investment in Trojan. The OPUC's general rate order related to Trojan has been subject to litigation in various state courts, including rulings by the Oregon Court of Appeals and petitions to the Oregon Supreme Court filed by parties opposed to the OPUC's order, including the Utility Reform Project(URP) and the Citizens Utility B", "clipped": true, "phrase": "In early 1993, Portland General Electric (PGE) ceased commercial operation", "path": "sanders-r/deleted_items/116.", "context": "PGE is Portland General"}, "c2f321-0": {"from": "steven.kean@enron.com", "to": "", "subject": "Enron Mentions", "text": "anizers of the anti-arena campaign also suggested that conservative political activist Bruce Hotze would announce plans Thursday to take a major role in their efforts, possibly becoming campaign manager. Although Hotze lacks the political and financial stature of the pro-arena campaign co-chairmen, Enron Corp. Chairman and Chief Executive Ken Lay and former Reliant Energy Chairman Don Jordan, he comes from a politically active family that can raise large amounts of money. Hotze has said he does not believe government should be involved in building sports stadiums, but he has declined to say how much he was willing to get involved in the anti-arena effort. Lark said Hotze told him that he will actively raise funds to fight the arena. The group is expected to form a political action committee this week to collect contributions. The philosophy of the anti-sports-arena efforts has reverted t", "clipped": true, "phrase": "Enron Corp. Chairman and Chief Executive Ken Lay", "path": "kean-s/all_documents/1484.", "context": "The Enron chairman and CEO named Ken who wrote the merger memo is Ken Lay"}, "c2f334-0": {"from": "ann.schmidt@enron.com", "to": "", "subject": "Enron Mentions", "text": "there and the plant reportedly is operational -- ready to produce power. The board told Enron last week it was canceling a 7-year-old power purchase agreement. Enron says the board doesn't have the right to do so. Under the contract, the board is supposed to pay Enron whether it takes power or not, said Carol Coale, an energy analyst with Prudential Securities in Houston. But the board has already refused to pay for power, saying Enron isn't living up to its contract. Enron, which says it is meeting the contract's terms, is owed about $64 million for power sold in December and January. Days before the board gave notice to Enron, the company started proceedings to end the contract because of unpaid power bills. But six months must pass before Enron can end it. There is continued speculation that Enron is looking to sell its stake in the project. In a statement, Enron said Wednesday it is ", "clipped": true, "phrase": "said Carol Coale, an energy analyst with Prudential Securities in Houston", "path": "kean-s/all_documents/4713.", "context": "Coale of Prudential is Carol Coale"}, "c2f397-0": {"from": "tana.jones@enron.com", "to": "frank.davis@enron.com", "subject": "EOL Customer Review", "text": ": Tana Jones/HOU/ECT@ECT cc: Subject: EOL Customer Review ---------------------- Forwarded by Mark Taylor/HOU/ECT on 11/29/99 09:56 AM --------------------------- Frank L Davis 11/20/99 01:00 PM To: Mark Taylor/HOU/ECT@ECT cc: Subject: EOL Customer Review Mark, The City Of Riverside has mailed in a password application form to trade on EnronOnline (EOL). This customer is considered a \"muni\" and we need to know if there are any legal restrictions (by product type) that would keep them from trading on EOL. We would like to respond back to this customer as soon as we receive approval/rejection back from our legal, credit, and tax departments. Please contact me with any questions. Thanks for your help! Frank", "clipped": true, "phrase": "password application form to trade on EnronOnline (EOL)", "path": "jones-t/all_documents/511.", "context": "EOL expands to EnronOnline"}, "c2f455-0": {"from": "tana.jones@enron.com", "to": "kkp2@pge.com", "subject": "NA PA & ETA", "text": "----- Forwarded by Tana Jones/HOU/ECT on 06/20/2000 05:13 PM ----- Frank L Davis 06/20/2000 05:11 PM To: Tana Jones/HOU/ECT@ECT cc: Subject: NA PA & ETA Tana, Attached below is the latest version of the North American Password Application and Electronic Trading Agreement. Let me know if you have any questions. Thanks! Frank", "clipped": false, "phrase": "Attached below is the latest version of the North American Password Application and Electronic Trading Agreement", "path": "jones-t/all_documents/2200.", "context": "ETA expands to Electronic Trading Agreement"}, "c2f478-0": {"from": "tana.jones@enron.com", "to": "kkp2@pge.com", "subject": "NA PA & ETA", "text": "----- Forwarded by Tana Jones/HOU/ECT on 06/20/2000 05:13 PM ----- Frank L Davis 06/20/2000 05:11 PM To: Tana Jones/HOU/ECT@ECT cc: Subject: NA PA & ETA Tana, Attached below is the latest version of the North American Password Application and Electronic Trading Agreement. Let me know if you have any questions. Thanks! Frank", "clipped": false, "phrase": "Attached below is the latest version of the North American Password Application and Electronic Trading Agreement", "path": "jones-t/all_documents/2200.", "context": "ETA expands to Electronic Trading Agreement"}, "c2f479-0": {"from": "tana.jones@enron.com", "to": "frank.davis@enron.com", "subject": "EOL Customer Review", "text": ": Tana Jones/HOU/ECT@ECT cc: Subject: EOL Customer Review ---------------------- Forwarded by Mark Taylor/HOU/ECT on 11/29/99 09:56 AM --------------------------- Frank L Davis 11/20/99 01:00 PM To: Mark Taylor/HOU/ECT@ECT cc: Subject: EOL Customer Review Mark, The City Of Riverside has mailed in a password application form to trade on EnronOnline (EOL). This customer is considered a \"muni\" and we need to know if there are any legal restrictions (by product type) that would keep them from trading on EOL. We would like to respond back to this customer as soon as we receive approval/rejection back from our legal, credit, and tax departments. Please contact me with any questions. Thanks for your help! Frank", "clipped": true, "phrase": "password application form to trade on EnronOnline (EOL)", "path": "jones-t/all_documents/511.", "context": "EOL expands to EnronOnline"}, "c2f483-0": {"from": "tana.jones@enron.com", "to": "kkp2@pge.com", "subject": "NA PA & ETA", "text": "----- Forwarded by Tana Jones/HOU/ECT on 06/20/2000 05:13 PM ----- Frank L Davis 06/20/2000 05:11 PM To: Tana Jones/HOU/ECT@ECT cc: Subject: NA PA & ETA Tana, Attached below is the latest version of the North American Password Application and Electronic Trading Agreement. Let me know if you have any questions. Thanks! Frank", "clipped": false, "phrase": "Attached below is the latest version of the North American Password Application and Electronic Trading Agreement", "path": "jones-t/all_documents/2200.", "context": "ETA expands to Electronic Trading Agreement"}, "c2f496-0": {"from": "tana.jones@enron.com", "to": "kkp2@pge.com", "subject": "NA PA & ETA", "text": "----- Forwarded by Tana Jones/HOU/ECT on 06/20/2000 05:13 PM ----- Frank L Davis 06/20/2000 05:11 PM To: Tana Jones/HOU/ECT@ECT cc: Subject: NA PA & ETA Tana, Attached below is the latest version of the North American Password Application and Electronic Trading Agreement. Let me know if you have any questions. Thanks! Frank", "clipped": false, "phrase": "Attached below is the latest version of the North American Password Application and Electronic Trading Agreement", "path": "jones-t/all_documents/2200.", "context": "ETA expands to Electronic Trading Agreement"}, "c2f497-0": {"from": "tana.jones@enron.com", "to": "jeffrey.hodge@enron.com", "subject": "I believe these are yours", "text": "m USD/MMBtu FIRM TRANSPORTATION A transaction with Transwestern Pipeline Company (\u0001&Transwestern\u00018) under which Transwestern will transport, on a firm basis, a maximum daily volume (stated in MMBtu per day) equal to the volume identified on the Website. Customer agrees that this Transaction will be governed by the terms contained within the online General Terms and Conditions (GTC). The term of the Transaction shall correspond to the date(s) set forth in the Product description on the Website. This Transaction provides firm pipeline transportation capacity from the primary receipt point of [Michelle to supply point name and POI #] to the primary delivery point of [Michelle to supply]. The posted rate, stated in USD/MMBtu on the Website, is a daily one-part rate, inclusive of all applicable reservation, commodity and surcharge rates. The total charge for the month will equal the posted ra", "clipped": true, "phrase": "governed by the terms contained within the online General Terms and Conditions (GTC)", "path": "jones-t/all_documents/9215.", "context": "GTC expands to General Terms and Conditions"}, "c2f512-0": {"from": "tana.jones@enron.com", "to": "frank.davis@enron.com", "subject": "EOL Customer Review", "text": ": Tana Jones/HOU/ECT@ECT cc: Subject: EOL Customer Review ---------------------- Forwarded by Mark Taylor/HOU/ECT on 11/29/99 09:56 AM --------------------------- Frank L Davis 11/20/99 01:00 PM To: Mark Taylor/HOU/ECT@ECT cc: Subject: EOL Customer Review Mark, The City Of Riverside has mailed in a password application form to trade on EnronOnline (EOL). This customer is considered a \"muni\" and we need to know if there are any legal restrictions (by product type) that would keep them from trading on EOL. We would like to respond back to this customer as soon as we receive approval/rejection back from our legal, credit, and tax departments. Please contact me with any questions. Thanks for your help! Frank", "clipped": true, "phrase": "password application form to trade on EnronOnline (EOL)", "path": "jones-t/all_documents/511.", "context": "EOL expands to EnronOnline"}, "c2f514-0": {"from": "enron.announcements@enron.com", "to": "ena.employees@enron.com", "subject": "Re-Alignment", "text": "r the successful business models in Calgary and Portland, effective immediately the following changes are being implemented: a) East Power \u0001) a single East Power Team incorporating trading, mid-market and origination will be formed under the co-leadership of Kevin Presto and Janet Dietrich who will report to the Enron Americas - Office of the Chairman (EA OOC). This team will have one income statement, one book and a joint accountability. However, a clear delineation of responsibilities inside these teams will continue to exist in which the trading organization will manage the risk, income statement and product development aspects of the partnership. The originators will have the primary responsibility to generate origination income, provide coverage, deal flow, lead strategy formulation, provide information and generate strategic positions. Overall, the team will be rewarded based upon ", "clipped": true, "phrase": "report to the Enron Americas - Office of the Chairman (EA OOC)", "path": "mann-k/all_documents/2767.", "context": "EA expands to Enron Americas"}, "c2f526-0": {"from": "alan.comnes@enron.com", "to": "jeff.dasovich@enron.com", "subject": "Re: Governor's Response to FERC", "text": "n good conscience, however, forego any measure that would serve to protect the people of California until I am satisfied that the sellers in the wholesale markets will not victimize Californians again. Since our meeting in San Diego, several things have occurred which influence my current thinking. On November 20, 2000 the California Energy Commission (CEC) published the results of a detailed bottom-up study of available electricity supply for 2001. It shows that -- taking into account expected load growth, firm and dynamically scheduled imports, and new supply already under construction or under contract -- California should be able to avoid emergencies if supplies are properly managed and scheduled. This presumes, of course, no gaming or withholding by sellers in wholesale markets and an absence of panic buying. But the CEC study also shows that supplies are sufficiently tight that mar", "clipped": true, "phrase": "On November 20, 2000 the California Energy Commission (CEC) published the results", "path": "kean-s/all_documents/2104.", "context": "CEC expands to California Energy Commission"}, "c2f541-0": {"from": "jeff.dasovich@enron.com", "to": "alan.comnes@enron.com, angela.schwarz@enron.com, beverly.aden@enron.com,   \tbill.votaw@enron.com, brenda.barreda@enron.com,   \tcarol.moffett@enron.com, cathy.corbin@enron.com,   \tchris.foster@enron.com, christina.liscano@enron.com,   \tcraig", "subject": "Dynegy and NRG Energy Announce Long-term Agreement With California", "text": "cial and other terms of the transaction were not disclosed. \"Since last summer, Dynegy and NRG have continued to produce all the power the state has requested. We have worked diligently with the DWR to capture the value of our in-state generation, balanced with California's long-term energy needs,\" said Steve Bergstrom, president and chief operating officer of Dynegy Inc. Craig A. Mataczynski, president and chief executive officer of NRG North America, said, \"Today's announcement solidifies our commitment to eliminating uncertainty for our respective shareholders and restoring price stability and future reliability to the California electricity market.\" Dynegy Inc. is a leading provider of energy and communications solutions to customers in North America, the United Kingdom and Continental Europe. The company's leadership position extends across the entire convergence value chain, from p", "clipped": true, "phrase": "said Steve Bergstrom, president and chief operating officer of Dynegy Inc.", "path": "kean-s/all_documents/5639.", "context": "COO expands to chief operating officer for Bergstrom"}, "c2f565-0": {"from": "alan.comnes@enron.com", "to": "diane.vickers@enron.com, robert.badeer@enron.com, tracy.ngo@enron.com,   \tsusan.mara@enron.com, jeff.dasovich@enron.com,   \tpaul.kaufman@enron.com, steven.kean@enron.com", "subject": "Reactions to Yesterday's CPUC Decision", "text": "ncy affirmed its double-B-plus corporate credit and senior unsecured debt ratings for one of those generators, Calpine Corp. (CPN), and indicated that the positions of a number of other generators were similarly stable. Standard & Poor's, without commenting on ratings, said those generators include Dynegy Inc. (DYN), The Williams Cos. (WMB), Reliant Energy Inc. (REI), Southern Energy Inc. (SOE) and NRG Energy Inc. (NRG). \"Each company has a diverse asset portfolio that mitigates exposure to any single market, such as California,\" S&P said. \"Standard & Poor's has concluded that the developers with merchant exposure to the California market have sufficient financial liquidity to sustain long-term disruptions to their markets.\" S&P also said the generators have generally incorporated conservative pricing assumptions well below California's current market prices. The generators' main counter", "clipped": true, "phrase": "Dynegy Inc. (DYN), The Williams Cos. (WMB), Reliant Energy Inc. (REI), Southern Energy Inc. (SOE) and NRG Energy Inc. (NRG)", "path": "kean-s/all_documents/6482.", "context": "DYN, REI, SOE, NRG ticker expansions"}, "c2f565-1": {"from": "alan.comnes@enron.com", "to": "diane.vickers@enron.com, robert.badeer@enron.com, tracy.ngo@enron.com,   \tsusan.mara@enron.com, jeff.dasovich@enron.com,   \tpaul.kaufman@enron.com, steven.kean@enron.com", "subject": "Reactions to Yesterday's CPUC Decision", "text": "ectric Co. and Edison International's (EIX) Southern California Edison face financial insolvency today. They are having to borrow billions of dollars to pay for this higher-priced electricity as part of the state's complex deregulation plan. The power plants are owned by out-of-state companies like AES Corp. (AES), Calpine Corp. (CPN) and Duke Energy Corp. (DUK). The threat of rolling blackouts has several causes. Some power plants run around the clock -- gobbling up the natural gas at a rapid pace. But others have temporarily been shut down because environmental laws prohibit them from emitting certain levels of pollutants annually. SoCal Gas has managed to keep its gas costs relatively low by buying gas for its core customers on long-term contracts at fixed prices. This helps to insulate the company from price spikes on gas delivered to its system at the California and Arizona and Neva", "clipped": true, "phrase": "AES Corp. (AES), Calpine Corp. (CPN) and Duke Energy Corp. (DUK)", "path": "kean-s/all_documents/6482.", "context": "AES, CPN, DUK ticker expansions"}, "c2f565-2": {"from": "steven.kean@enron.com", "to": "joe.hartsoe@enron.com", "subject": "Enron Mentions", "text": "s last week that would impose a windfall profit tax on wholesale power sold throughout the western U.S. The bill, which was referred to the House Committee on Ways and Means, may be discussed in December or January, according to Filner, and if he gets enough support by the mostly Republican caucus, companies like Enron Corp. (ENE), Duke Energy North America (DUK), Southern Co. (SO). Reliant Energy (REI) and Dynegy (DYN), would only be allowed to show a certain amount of profit and anything over that amount would be taxed 100%. Filner said the amount of profit hasn't been determined but his bill calls for a baseline that would be a \"just and reasonable\" amount of profit. The congressman's San Diego constituents were paying market-based electricity rates in the summer which resulted in triple-digit utility bills. He said generators are gouging California customers and need to be held respo", "clipped": true, "phrase": "companies like Enron Corp. (ENE), Duke Energy North America (DUK)", "path": "kean-s/all_documents/1671.", "context": "ENE = Enron"}, "c2f566-0": {"from": "mark.koenig@enron.com", "to": "steven.kean@enron.com", "subject": "UPDATE OF CALIFORNIA CRISIS AND BRIEF NOTES ON DUKE ENERGY   CONFERENCE CALL", "text": "FYI ---------------------- Forwarded by Mark Koenig/Corp/Enron on 01/12/2001 10:14 AM --------------------------- firstcall.notes@tfn.com on 01/12/2001 01:17:14 PM To: mark.koenig@enron.com cc: Subject: UPDATE OF CALIFORNIA CRISIS AND BRIEF NOTES ON DUKE ENERGY CONFERENCE CALL FIRST CALL RESEARCH NETWORK 10:41am EST 12-Jan-01 Prudential (C.COALE 713-650-XXXX) DUK DYN ENE REI PCG UPDATE OF CALIFORNIA CRISIS AND BRIEF NOTES ON DUKE ENERGY CONFERENCE CALL UPDATE OF CALIFORNIA CRISIS AND BRIEF NOTES ON DUKE ENERGY CONFERENCE CALL PRUDENTIAL SECURITIES January 12, 2001 SUBJECT: Natural Gas Distr./Pipelines ----- ANALYST(S) -------------------- -------- OPINION -------- M. Carol Coale 713.650.XXXX Current: Strong Buy David R. Tameron 713.650.XXXX Risk: Moderate ----- HIGHLIGHTS--------------------------------------------------------- Key players in California energy crisis meeting continuing t", "clipped": true, "phrase": "FIRST CALL RESEARCH NETWORK 10:41am EST 12-Jan-01 Prudential (C.COALE 713-650-XXXX", "path": "kean-s/all_documents/6319.", "context": "note authored by Prudential"}, "c2f566-1": {"from": "alan.comnes@enron.com", "to": "diane.vickers@enron.com, robert.badeer@enron.com, tracy.ngo@enron.com,   \tsusan.mara@enron.com, jeff.dasovich@enron.com,   \tpaul.kaufman@enron.com, steven.kean@enron.com", "subject": "Reactions to Yesterday's CPUC Decision", "text": "ncy affirmed its double-B-plus corporate credit and senior unsecured debt ratings for one of those generators, Calpine Corp. (CPN), and indicated that the positions of a number of other generators were similarly stable. Standard & Poor's, without commenting on ratings, said those generators include Dynegy Inc. (DYN), The Williams Cos. (WMB), Reliant Energy Inc. (REI), Southern Energy Inc. (SOE) and NRG Energy Inc. (NRG). \"Each company has a diverse asset portfolio that mitigates exposure to any single market, such as California,\" S&P said. \"Standard & Poor's has concluded that the developers with merchant exposure to the California market have sufficient financial liquidity to sustain long-term disruptions to their markets.\" S&P also said the generators have generally incorporated conservative pricing assumptions well below California's current market prices. The generators' main counter", "clipped": true, "phrase": "Dynegy Inc. (DYN), The Williams Cos. (WMB), Reliant Energy Inc. (REI)", "path": "kean-s/all_documents/6482.", "context": "DYN = Dynegy"}, "c2f566-2": {"from": "alan.comnes@enron.com", "to": "diane.vickers@enron.com, robert.badeer@enron.com, tracy.ngo@enron.com,   \tsusan.mara@enron.com, jeff.dasovich@enron.com,   \tpaul.kaufman@enron.com, steven.kean@enron.com", "subject": "Reactions to Yesterday's CPUC Decision", "text": "ectric Co. and Edison International's (EIX) Southern California Edison face financial insolvency today. They are having to borrow billions of dollars to pay for this higher-priced electricity as part of the state's complex deregulation plan. The power plants are owned by out-of-state companies like AES Corp. (AES), Calpine Corp. (CPN) and Duke Energy Corp. (DUK). The threat of rolling blackouts has several causes. Some power plants run around the clock -- gobbling up the natural gas at a rapid pace. But others have temporarily been shut down because environmental laws prohibit them from emitting certain levels of pollutants annually. SoCal Gas has managed to keep its gas costs relatively low by buying gas for its core customers on long-term contracts at fixed prices. This helps to insulate the company from price spikes on gas delivered to its system at the California and Arizona and Neva", "clipped": true, "phrase": "AES Corp. (AES), Calpine Corp. (CPN) and Duke Energy Corp. (DUK)", "path": "kean-s/all_documents/6482.", "context": "DUK = Duke"}, "c2f566-3": {"from": "steven.kean@enron.com", "to": "joe.hartsoe@enron.com", "subject": "Enron Mentions", "text": "s last week that would impose a windfall profit tax on wholesale power sold throughout the western U.S. The bill, which was referred to the House Committee on Ways and Means, may be discussed in December or January, according to Filner, and if he gets enough support by the mostly Republican caucus, companies like Enron Corp. (ENE), Duke Energy North America (DUK), Southern Co. (SO). Reliant Energy (REI) and Dynegy (DYN), would only be allowed to show a certain amount of profit and anything over that amount would be taxed 100%. Filner said the amount of profit hasn't been determined but his bill calls for a baseline that would be a \"just and reasonable\" amount of profit. The congressman's San Diego constituents were paying market-based electricity rates in the summer which resulted in triple-digit utility bills. He said generators are gouging California customers and need to be held respo", "clipped": true, "phrase": "companies like Enron Corp. (ENE), Duke Energy North America (DUK)", "path": "kean-s/all_documents/1671.", "context": "ENE = Enron"}, "c2f590-0": {"from": "jeff.dasovich@enron.com", "to": "alan.comnes@enron.com, angela.schwarz@enron.com, beverly.aden@enron.com,   \tbill.votaw@enron.com, brenda.barreda@enron.com,   \tcarol.moffett@enron.com, cathy.corbin@enron.com,   \tchris.foster@enron.com, christina.liscano@enron.com,   \tcraig", "subject": "Dynegy and NRG Energy Announce Long-term Agreement With California", "text": "nt With California Department of Water Resources DATELINE: HOUSTON & MINNEAPOLIS, March 6, 2001 BODY: Dynegy Inc. (NYSE:DYN) and NRG Energy, Inc. (NYSE:NRG) today announced that their affiliates, El Segundo Power LLC, Long Beach Generation LLC and Cabrillo I LLC, have entered into an agreement with the California Department of Water Resources (DWR) to provide the state with up to 2,300 megawatts (MW) of energy through 2004. Under the terms of the agreement which begins today, Dynegy and NRG's affiliates will provide 1,000 MW to DWR for the balance of 2001, and beginning January 1, 2002 will provide up to 2,300 MW. Financial and other terms of the transaction were not disclosed. \"Since last summer, Dynegy and NRG have continued to produce all the power the state has requested. We have worked diligently with the DWR to capture the value of our in-state generation, balanced with California'", "clipped": true, "phrase": "the California Department of Water Resources (DWR) to provide the state", "path": "kean-s/all_documents/5639.", "context": "DWR = California Department of Water Resources"}, "c2f596-0": {"from": "jeff.dasovich@enron.com", "to": "j..kean@enron.com, richard.shapiro@enron.com, karen.denne@enron.com,   \tsusan.mara@enron.com, paul.kaufman@enron.com,   \tmichael.tribolet@enron.com, karen.denne@enron.com,   \tpr <.palmer@enron.com>, linda.robertson@enron.com,   \tm..landwehr", "subject": "LA Times Story on Bad DWR Long-term Contracts", "text": "he agreements. When the state began negotiating contracts, California had just suffered two days of rotating blackouts. The contracts tamed the market and eliminated the blackout threat, he said. \"Insurance is insurance, and it costs a little bit,\" said Freeman, \"but it's a good thing to have.\" But William B. Marcus, chief economist for JBS Energy, which conducted the three-month study, noted that at least one of the most troublesome agreements was signed in July--weeks after the market had stabilized and prices had declined. The study of the contracts was sponsored by the Center for Energy Efficiency and Renewable Technologies and was financed by a $200,000 grant from the San Francisco-based Energy Foundation. It was conducted by JBS, a consulting group. The study singled out for criticism: * A deal with Sempra Energy, parent company to San Diego Gas & Electric, which Marcus called the ", "clipped": true, "phrase": "William B. Marcus, chief economist for JBS Energy, which conducted the three-month study", "path": "kean-s/california/1963.", "context": "Marcus is JBS Energy's chief economist"}, "c2f632-0": {"from": "richard.sanders@enron.com", "to": "christian.yoder@enron.com", "subject": "Re: Mid-C control area abuse", "text": " To: Tim Belden/HOU/ECT@ECT, Elizabeth Sager/HOU/ECT@ECT cc: Richard B Sanders/HOU/ECT@ECT, Sean Crandall/PDX/ECT@ECT, Diana Scholtes/HOU/ECT@ECT Subject: Mid-C control area abuse Sean and I talked through the Mid-C control area abuse (Puget and WWP's refusal to honor Mid-C sales not sunk at Mid-C) with Dan Watkiss of Bracewell Patterson. After \"sinking\" his mind into the facts, Dan was of the view that a two pronged legal approach could be taken: 1. take one of our apparently frequent direct purchases from Puget at Mid-C as a test case and when Puget refuses to honor the schedule which requires it to be sunk at COB, sue them in a state court, and 2. bring a complaint against Puget at Ferc allegding conduct in breach of the Federal Power Act. There is enough wrong about this situation to cause Dan to say that both actions were potentially available. The real issue now is, do we want to d", "clipped": true, "phrase": "with Dan Watkiss of Bracewell Patterson", "path": "sanders-r/all_documents/3741.", "context": "Dan Watkiss is with Bracewell Patterson"}, "c2f638-0": {"from": "miyung.buster@enron.com", "to": "california.group@enron.com", "subject": "Energy Issues", "text": " be a key focus of a special state Senate committee charged with investigating the alleged manipulation in the power market. ?????\"How you can tell your investors you're about to make a whole ton of money in the very short term, and tell the consumers of California you're about to get lower rates?\" said Sen. Joe Dunn (D-Santa Ana), a former consumer attorney who is heading the legislative probe. ?????Investigations by the state attorney general and federal regulators are continuing, but remain largely secret. ?????The Senate panel could offer the most open and wide-ranging examination yet of alleged misconduct among power sellers. The bipartisan panel expects to begin requesting documents from power producers as early as today and begin hearings in a few weeks. Committee members stress that they are hoping the power companies will cooperate but are ready to issue subpoenas if necessary. ", "clipped": true, "phrase": "said Sen. Joe Dunn (D-Santa Ana), a former consumer attorney who is heading the legislative probe", "path": "kean-s/all_documents/5333.", "context": "Dunn heads the Senate panel's probe"}, "c2f643-0": {"from": "susan.mara@enron.com", "to": "alan.comnes@enron.com, angela.schwarz@enron.com, beverly.aden@enron.com,   \tbill.votaw@enron.com, brenda.barreda@enron.com,   \tcarol.moffett@enron.com, cathy.corbin@enron.com,   \tchris.foster@enron.com, christina.liscano@enron.com,   \tchris", "subject": "Power producers accused of gouging -- Rumored ISO Report Comes out", "text": "lion, or 21 percent, of the energy it bought in December and $315 million, or 63 percent, of the energy it bought in January. Total energy costs for those two months were more than $11 billion, compared with $7 billion for all of 1999, Sheffrin said. \"This is a wonderful step for the ISO to take,'' said state Sen. Joe Dunn, D-Santa Ana, who is on a Senate committee hoping to restructure the electricity market to prevent market manipulation. \"There have been many accusations, but none of them have chosen to act.\" The new ISO study looked at power production, the prevailing market conditions and the demand for energy and found that the cost of emergency electricity was far higher than it should have been, Sheffrin said. Further details of the study are expected to be released today. Sheffrin said ISO officials have asked the power producers to supply information that would help them determ", "clipped": true, "phrase": "said state Sen. Joe Dunn, D-Santa Ana, who is on a Senate committee", "path": "kean-s/all_documents/5702.", "context": "Dunn is a state senator on a Senate committee"}, "c2f652-0": {"from": "jeff.dasovich@enron.com", "to": "alan.comnes@enron.com, angela.schwarz@enron.com, beverly.aden@enron.com,   \tbill.votaw@enron.com, brenda.barreda@enron.com,   \tcarol.moffett@enron.com, cathy.corbin@enron.com,   \tchris.foster@enron.com, christina.liscano@enron.com,   \tcraig", "subject": "Legislative Status Report Week Ending 4/20", "text": "This week and next week\u0001,s topics will be to go over previous investigations into market power. The committee heard or will be hearing testimony from: Frank Wolak, Chairman Market Surveillance Committee, CAISO; Eric Hildebrandt, Manager Market Monitoring, CAISO; and, Elaine Howle, State Auditor. -- The Assembly Electricity Oversight Subcommittee met this week and focused on the issue of natural gas collusion. Testifying before the committee were representatives from Dynegy and El Paso, commenting on the rise of natural gas prices and whether illegal market manipulation and collusion occurred. The subcommittee plans on putting together a package of bills related to natural gas issues, which would be the culmination of the committee\u0001,s hearings over the last two months. This package will be up for consideration first by the whole special Assembly Energy committee. -- Governor Davis came ou", "clipped": true, "phrase": "The Assembly Electricity Oversight Subcommittee met this week and focused on the issue of natural gas collusion.", "path": "kean-s/all_documents/5140.", "context": "committee name"}, "c2f727-0": {"from": "susan.mara@enron.com", "to": "david.parquet@enron.com, tim.belden@enron.com, robert.badeer@enron.com,   \tdennis.benevides@enron.com, roger.yang@enron.com,   \telsa.piekielniak@enron.com, james.steffes@enron.com,   \tscott.vonderheide@enron.com, bruno.gaillard@enron.com,  ", "subject": "GREAT NEWS ****FERC Order on Morgan Stanley Complaint Against ISO", "text": "y other buyer of these services....if the ISO is unable to elicit sufficient supplies at or below its announced purchase price ceiling (because generators are free to sell elsewhere if they choose), it will have to raise its purchase price to the level necessary to meet its needs.\" [Emphasis added] FERC then notes that this may lead to an increase in Out of Market (\"OOM\") calls and that OOM calls are not subject to a maximum purchase price. Also, with regard to the ISO's resolution stating that generators must bid their capacity into the ISO markets when system load exceeds 38,000 MW, FERC states clearly that, \"such a requirement is not permitted by our November 12 Order and the ISO tariff.\" [Emphasis added] FERC goes on to say that any requirement to sell to ISO in conjunction with a maximum purchase price would require significant revisions to ISO's market rules, which could not be mad", "clipped": true, "phrase": "FERC then notes that this may lead to an increase in Out of Market (\"OOM\") calls", "path": "kean-s/all_documents/861.", "context": "OOM = out-of-market"}, "c2f728-0": {"from": "susan.mara@enron.com", "to": "david.parquet@enron.com, tim.belden@enron.com, robert.badeer@enron.com,   \tdennis.benevides@enron.com, roger.yang@enron.com,   \telsa.piekielniak@enron.com, james.steffes@enron.com,   \tscott.vonderheide@enron.com, bruno.gaillard@enron.com,  ", "subject": "GREAT NEWS ****FERC Order on Morgan Stanley Complaint Against ISO", "text": "y other buyer of these services....if the ISO is unable to elicit sufficient supplies at or below its announced purchase price ceiling (because generators are free to sell elsewhere if they choose), it will have to raise its purchase price to the level necessary to meet its needs.\" [Emphasis added] FERC then notes that this may lead to an increase in Out of Market (\"OOM\") calls and that OOM calls are not subject to a maximum purchase price. Also, with regard to the ISO's resolution stating that generators must bid their capacity into the ISO markets when system load exceeds 38,000 MW, FERC states clearly that, \"such a requirement is not permitted by our November 12 Order and the ISO tariff.\" [Emphasis added] FERC goes on to say that any requirement to sell to ISO in conjunction with a maximum purchase price would require significant revisions to ISO's market rules, which could not be mad", "clipped": true, "phrase": "FERC then notes that this may lead to an increase in Out of Market (\"OOM\") calls", "path": "kean-s/all_documents/861.", "context": "OOM = out-of-market"}, "c2f741-0": {"from": "mark.palmer@enron.com", "to": "richard.shapiro@enron.com, steven.kean@enron.com, jeff.dasovich@enron.com,   \trichard.sanders@enron.com, paul.kaufman@enron.com", "subject": "RE: FW: ANNOUNCEMENT: Notice of Press Conference today", "text": "o artificially inflate prices for electricity, yielding themselves billions of dollars in windfall profits at the expense of California consumers. 22. As part of the deregulation, several new entities were created to facilitate the workings of this new market. California's investor owned utilities, Pacific Gas & Electric (PG&E), Southern California Edison (SCE), and San Diego Gas & Electric (SDG&E) (the\"Utilities\"), now purchase electricity for their customers from independent generators and traders, including defendants, through a market known as the California Power Exchange (PX). The PX maintains a market for the purchase and sale of wholesale electricity through a variety of forward contracts and real time markets. Under the California deregulatory scheme, the Utilities were, until just recently, required to purchase power through the PX and prohibited from independently contracting ", "clipped": true, "phrase": "Pacific Gas & Electric (PG&E), Southern California Edison (SCE), and San Diego Gas & Electric (SDG&E)", "path": "kean-s/all_documents/2072.", "context": "SCE = Southern California Edison"}, "c2f749-0": {"from": "christi.nicolay@enron.com", "to": "joe.hartsoe@enron.com, richard.shapiro@enron.com, steven.kean@enron.com", "subject": "NOPR Comments", "text": "ify any Entergy-imposed restrictions that would have prevented the power purchase. See Letter in Docket No. PL98-5-000 (filed July 2, 1998). Docket No. RM99-2-000 - 75 - One specific area where there have been allegations that transmission owners are using ATC to favor their own merchant operations concerns the calculation and use of Capacity Benefit Margin (CBM). Although there is no single accepted definition, CBM is generally used to mean an amount of transmission transfer capability reserved by load serving entities to ensure access to generation from interconnected systems to meet their generation reliability requirements. 121/ Some utilities subtract CBM from their total transmission capability to arrive at ATC. There is no uniform method for calculating CBM. The ability to withhold CBM to ensure reliability not only confers a reliability advantage for the transmission provider, bu", "clipped": true, "phrase": "concerns the calculation and use of Capacity Benefit Margin (CBM)", "path": "kean-s/all_documents/462.", "context": "CBM = capacity benefit margin"}, "c2f962-0": {"from": "enron.announcements@enron.com", "to": "enron.worldwide@enron.com", "subject": "New IT website", "text": "Effective immediately, all computer hardware and peripheral equipment required by Enron Engineering & Construction Company (EE&CC), Enron Capital and Trade Resources (ECT), Corporate (Corp), Enron Net Works (ENW), Enron International (EI) and Enron North America (ENA) employees may be requisitioned through the new IT Central website. You may access the site by clicking on the following hyperlink, http://itc.corp.enron.com/Data/Home/ or you may go to the Global Strategic Sourcing website, located at http://gss.enron.com/ and click on IT Procurement. Once connected to the IT Central website, users may place orders, submit security requests, obtain answers to frequently asked questions, learn about new IT projects in development and research the latest technology products on the market. If you have any questions or comments regarding the site or the new ordering process, please contact Hank", "clipped": true, "phrase": "Enron International (EI) and Enron North America (ENA) employees may be requisitioned", "path": "jones-t/all_documents/2074.", "context": "ENA stands for Enron North America"}}