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Subject: reschedule - meeting with riskcare to discuss joint ventures ( michael curran , manuel rensink & richard haddow ) vince j kaminski / hou / ect wants to reschedule a meeting . on 02 / 23 / 2000 03 : 00 : 00 am cst for 2 hours with : anjam ahmad / lon / ect ( chairperson ) vince j kaminski / hou / ect ( invited ) shirley crenshaw / hou / ect ( invited ) dale surbey / lon / ect ( invited ) stinson gibner / hou / ect ( invited ) meeting with riskcare to discuss joint ventures ( michael curran , manuel rensink & richard haddow )

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Subject: mid - year 2000 performance feedback note : you will receive this message each time you are selected as a reviewer . you have been selected to participate in the mid - year 2000 performance management process by providing meaningful feedback on specific employee ( s ) that have been identified for you . your feedback plays an important role in the performance management process , and your participation is very critical to the success of enron ' s performance management goals . please provide feedback on the employee ( s ) listed below by accessing the performance management system ( pep ) and completing an online feedback form as described in the " performance management quick reference guide " . you may begin your feedback input immediately . please have all feedback forms completed by the date noted below . if you have any questions regarding pep or your responsibility in the process , please call the pep help desk at the following numbers : in the u . s . : 1 - 713 - 853 - 4777 , option 4 in europe : 44 - 207 - 783 - 4040 , option 4 in canada : 1 - 403 - 974 - 6724 ( canada employees only ) or e - mail your questions to : perfmgmt @ enron . com thank you for your participation in this important process . the following list of employees is a cumulative list of all feedback requests , by operating company , that have an " open " feedback status . an employee ' s name will no longer appear once you have completed the feedback form and select the " submit " button in pep . review group : enron feedback due date : jun 16 , 2000 employee name supervisor name date selected - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - ahmad , anjam dale surbey may 22 , 2000 carson , margaret m james d steffes may 26 , 2000 carson , richard l richard b buy may 22 , 2000 crenshaw , shirley j wincenty j . kaminski may 24 , 2000 ghosh , soma timothy davies may 31 , 2000 kaminski , wincenty j . david w delainey jun 05 , 2000 peyton , john a randal t maffett jun 05 , 2000 thuraisingham , ravi vasant shanbhogue may 30 , 2000 vernon , clayton j vasant shanbhogue may 26 , 2000 yuan , ding richard l carson jun 02 , 2000 zipter , rudi c theodore r murphy may 25 , 2000

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Subject: re : white wall board anita , no problem . vince anita dupont @ enron 08 / 18 / 2000 10 : 27 am to : shirley crenshaw / hou / ect @ ect cc : vince j kaminski / hou / ect @ ect subject : white wall board shirely : amitava wants one of those wall size white marker boards for his office . how do i go about ordering one of those ? anita

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Subject: viagra - proven step to start something all over again . looking for a specific medication ? let us know what you need ! there is an applause superior to that of the multitudes : one ' s own . winning isn ' t everything , it is the only thing . war is the continuation of politics by other means . we are most alive when we ' re in love .

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Subject: you don _ t know how to get into search engine results ? submitting your website in search engines may increase your online sales dramatically . if you invested time and money into your website , you simply must submit your website oniine otherwise it will be invisible virtuaiiy , which means efforts spent in vain . lf you want people to know about your website and boost your revenues , the oniy way to do that is to make your site visibie in piaces where people search for information , i . e . submit your website in multiple search engines . submit your website oniine and watch visitors stream to your e - business . best reqards , seeblackweil _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ not interested . . . _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _

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Subject: alp presentation on behalf of enron corp . i would like to invite you to an alp project presentation by a group of students of jesse h . jones graduate school of management , rice university . the students will present the results of a research project regarding electronic trading platforms in the energy industry . the presentation will be held on may 7 , at 4 : 00 p . m . at enron , 1400 smith . we would also like to invite you to dinner , following the presentation . vince kaminski vincent kaminski managing director - research enron corp . 1400 smith street room ebl 962 houston , tx 77002 - 7361 phone : ( 713 ) 853 3848 ( 713 ) 410 5396 ( cell ) fax : ( 713 ) 646 2503 e - mail : vkamins @ enron . com

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Subject: vacation day feb . 16 shirley , please put me down for a vacation day of feb . 16 . thanks , stinson

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Subject: mscf speaker series mscf speaker series official invitation ? ? it is with great pride that i announce the next event in the speaker series . next friday we will have the honor to host a conference given by mr . vince kaminski ? managing director research at enron corp . ? the next event in the student speaker series is : friday , november 3 , 2000 11 : 30 a . m . to 12 : 30 p . m . fast lab [ image ] vince kaminski managing director , research . enron corp . tentative student speaker series schedule 2000 - 2001 the following is a tentative schedule of the mscf student speaker series for the 2000 - 2001 academic year . all events take place from 11 : 30 a . m . to 12 : 30 p . m . in the fast lab ( gsia 229 ) unless otherwise noted . updates are soon to follow . volatility curve and bond basis august 11 , 2000 david hartney & jerry hanweck vice president , futures and option sales j . p . morgan price and hedging volatility contracts september 1 , 2000 dmitry pugachevsky deutsche bank dmitry pugachesky is a director with otc derivatives research of deutsche bank , where his research is primarily focussed on credit derivatives . prior to joining deutsche bank , dmitry worked for six years with global analytics group of bankers trust . there he developed models for emerging markets , interest rates , and equity derivatives and also participated in actual trading and structuring of interest rate options . he received his phd in applied mathematics from carnegie mellon university specializing in control theory for stochastic processes . he has published several papers on modelling in emerging markets and on valuation for passport options . a measurement framework for bank liquidity risk september 15 , 2000 raymond cote vice president , finrad inc . raymond cote is vice president , financial engineering at finrad inc . , a montreal - based consulting firm offering financial management solutions that combine advisory and systems development services to & corporations and financial institutions . abstract : liquidity risk , as opposed to credit and market risks , has received little attention in professional or academic journals . we argue that analyzing bank liquidity risk can be viewed as a variation of credit risk analysis . after introducing some concepts and definitions , the presentation defines a framework allowing to measure a bank ' s structural liquidity risk . it then shows that combining the framework with modern credit risk measurement tools leads to a liquidity risk var measure . the presentation then offers concluding comments on the integration of the liquidity risk measurement framework within enterprise - wide risk management . the impact of electronic trading on the uses of quantitative research in equity options september 22 , 2000 scott morris hull group , quantitative research department quantitative research in investment management october 6 , 2000 raman srivastava & anna bulkovshteyn assistant vice president , & fixed income , quantitative analysts , putman investments [ image ] tba november 3 , 2000 vince kaminski managing director , research . enron corp . fund management and market efficiency november 10 , 2000 andrea dalton researcher , friess associates ( advisor to the brandywine funds ) . tba november 17 , 2000 jeff keifer & deb aep tutorial on bridge november 24 , 2000 pierre ste - marie & punit rawal mscf students a corporate risk management framework december 8 , 2000 darin aprati & brian moore mcdonald ' s [ image ] math speaker series schedule 2000 - 2001 [ image ] speaker series student committee [ image ] previous speakers ? pierre - philippe ste - marie - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - [ image ] http : / / pstemarie . homestead . com

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Subject: re : chapter 3 gentlemen , thankyou for your fine effort . i ' ll e - mail thru thurs eve ( sydney time ) what we have done to incorporate it into our material ( which wasn ' t toooo painful ) to see if it is ok with you . a couple of quick questions though . vince - your section had a number of footnote numbers , but no actual footnotes - can you please resend them ? grant - i agree it would be good to have the final figure . what happens if you plot the historical data and the simulations on the same graph - but with different axis ? many thanks and best regards . chris .

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Subject: credit business plan hi jeff , my research colleagues and i are working on a document to lay out our credit derivatives modeling strategy . for lack of a better term , we refer to this as our credit business plan . it is my understanding that various business plans have been previously written for the credit group - one by gillian johnson and another by john bottomley . it would be very helpful to our efforts in the research group , it you would allow us to see these plans . thanks , iris

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Subject: re : uk power / gas vince , just fyi : oliver ( risk control in london ) was asking if it is appropriate to use a set of factors corresponding to some commodity for another commodity . this " mapping " we do quite frequently in our var system when forward prices for a commodity are not correlated ( because of poor price history ) . i think using this kind of mappings is ok because we can not trust these correlations based on illiquid price information . if we believed the matrix with low correlations represents what goes on in the market and we simply can not reconstruct it with our 7 factors - then we might use more factors then 7 or the matrix itself . tanya tanya tamarchenko 12 / 15 / 2000 02 : 36 pm to : oliver gaylard / lon / ect @ ect cc : david port / market risk / corp / enron @ enron , rudi zipter / hou / ect @ ect , wenyao jia / hou / ect @ ect , kirstee hewitt / lon / ect @ ect , debbie r brackett / hou / ect @ ect , naveen andrews / corp / enron @ enron subject : re : uk power / gas oliver , i completely agree with you : validating var inputs like positions , prices and volatilities which are used by risktrac is the first thing to do . you also rise a valid question : if the factor loadings for some commodity do not make sense should we use the factor loadings for another commodity ? the factor loadings " do not make sense " when the correlations across the term structure are not high . so if we believe that the forward prices for this commodity are market prices and statistical analysis on these prices produces the correlations which we trust , then it would be proper to use this correlation matrix in var engine , not the factors . using factors is simply the way to speed up calculations for highly correlated prices without sacrificing the accuracy . tanya . oliver gaylard 12 / 15 / 2000 07 : 11 am to : naveen andrews / corp / enron @ enron cc : david port / market risk / corp / enron @ enron , rudi zipter / hou / ect @ ect , wenyao jia / hou / ect @ ect , kirstee hewitt / lon / ect @ ect , tanya tamarchenko / hou / ect @ ect , ganapathy ramesh / hou / ect @ ect , debbie r brackett / hou / ect @ ect subject : re : uk power / gas naveen regarding the calculation of uk vars in risk trac i agree that we should be using this calculation engine for all commodity vars . however we should not focus solely on the uk but ensure that we use risk trac for continental power and gas , uk power and gas , nordic power . to use risk trac i think the following need to be resolved first , to implement it " right the first time " , as i think it is incorrect to consider the risk trac numbers " as the most accurate " since it depends on the validity of these items : positions ( delta and gamma ) and curve mapping - these need to include all positions including those outside the main risk systems positions , curves and mapping should now be no problem given the feeds , apart from continental power , have been uat ' d and we have the spreadsheet feeds up and running . price and vol curves - as used by the risk systems as above inter commodity correlation - prompt month correlation should be easy to calculate given an accurate and complete data set ( however the incomplete historic data for europe in risk trac , prior to the formation of the task force , would mean a full data set needs to be obtained and used ) . term structure of correlation would be good but i understand this is difficult to use in the calculation . factor loadings i think factor loadings should be calculated , on the same data sets used for inter commodity correlation , for all commodities . if this analysis does not appear to work i am not sure that using factor loadings for other markets is adequate . do we need to consider an alternative approach to calculating var for these markets ? to ensure this moves forward i think a list of the mile stones , responsibilities and time lines needs to be drawn up otherwise i fear the process of moving across to risk trac from the spreadsheet var will experience some slippage . i will call today to start the process off . rgds oliver naveen andrews @ enron 06 / 12 / 2000 21 : 50 to : oliver gaylard / lon / ect @ ect cc : david port / market risk / corp / enron @ enron , rudi zipter / hou / ect @ ect , wenyao jia / hou / ect @ ect , kirstee hewitt / lon / ect @ ect , tanya tamarchenko / hou / ect @ ect , ganapathy ramesh / hou / ect @ ect , debbie r brackett / hou / ect @ ect subject : uk power / gas oliver , i had a couple of issues pertaining to uk power / uk gas . first , just a few notes as it pertains to risk trac uk - implementation : ( 1 ) in risktrac , currently all the gas curves are mapped to nbp . ( 2 ) all the power curves are mapped to r 4 ( cinergy ) . factor loading analysis lends itself only to nbp and the norewgian curves ( for reasons of liquidity , etc ) . we have decided that nbp and cinergy are the best curves available at this time . the spreadsheet which is utilized in the uk also has curves mapped to a 2 - 3 - year old set of factors derived from us nat gas , which is clearly not optimal . hence ( 1 ) we should be using risktrac numbers for var , as it is the " most accurate " , both in terms of ene - wide model usage and in terms of the most recent updated data . ever since uk power came on board in risktrac 3 weeks ago , the uk power number has been consistently 7 - 8 mm above the numbers in your spreadsheet . this difference is to be ecpected , given the different inputs . ( 2 ) the consistent numbers do not point to a data error in any obvious way , however , if you believe that positions are not captured correctly , please let our it staff know that . ( 3 ) checks which ramesh has done indicate that positions are tying in . however , as you know , there could be disconnects with enpower , etc . in any event , it would be ideal and optimal to have all the simulations run out of risktrac for reasons of aggregation and analysis . your help is appreciated . regards naveen

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Subject: congratulations on your promotion congratulations on the much deserved recognition you have recently received from the enron executive committee . sue haynes enron staffing

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Subject: undelivered mail returned to sender this is the postfix program at host mx 2 . oi . com . br . i ' m sorry to have to inform you that your message could not be be delivered to one or more recipients . it ' s attached below . for further assistance , please send mail to if you do so , please include this problem report . you can delete your own text from the attached returned message . the postfix program : host frontend . oi . com . br [ 200 . 222 . 115 . 18 ] said : 550 - mailbox unknown . either there is no mailbox associated with this 550 - name or you do not have authorization to see it . 550 5 . 1 . 1 user unknown ( in reply to end of data command )

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Subject: brownsville peaker data hey guys , further to our meeting , here ( courtesy of john t ) are the addresses to view the peaker data for our upcoming testing : a . o : \ _ dropbox \ peakerdata \ peakersl 999 . htm b . o : \ _ dropbox \ peakerdata \ peakers 2000 . htm at the present time , these pages display on microsoft internet explorer only . type in the above urls in the address area of your ie . the pages refresh automatically once every minute . cheers , - - scott

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Subject: re : invitation to speak at power 2000 emma , it ' s your choice . i can chair the session of day 2 or speak on one of these topics . please , let me know what works for you . possible presentations : evaluating the effectiveness of insurance as a risk management tool or applying real option theory to value power plants or overcoming the difficulties of accurately estimating volatility vince " emma wolfin " on 12 / 14 / 99 04 : 08 : 03 pm to : vince j kaminski / hou / ect @ ect cc : subject : invitation to speak at power 2000 hi vince it is my great pleasure to invite you to speak at power 2000 which will be in houston on 9 & 10 may 2000 . would you be interested in chairing one of the streams on day 2 of the conference ? or making a full presentation on one of the days ? please let me know which talks interest you . obviously , some of the talks are no longer available but i would like to give you a choice as much as possible . please could you get back to me asap on 212 925 1864 ext 151 or by return email . i very much hope you can make the dates as i ' m very keen to have you participate at power . not to flatter you unnecessarily , but i know that a lot of people come to our conferences to hear what you have to say . best regards emma - invite . doc

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Subject: outage pricing model revision : allowing for power price vs . outage correlation i have included provision for providing rank correlation between " jump occurrence in daily average power price " and " outage occurrence " . the model will provide the same claim distribution as before when pricevsoutage correlation = 0 is used . claim goes up as the correlation is increased . i have performed some sensitivity analysis and the results seem to make sense . the new model workbook is " 40901 . xls " and corresponding dll is " outagepricingo 40901 . dll " , both located in o : \ grm \ research \ outagerisk \ subdirectory . the price vs . outage rank correlation input will need to be provided in " main " spreadsheet . please call me if you have any questions . - amitava

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Subject: various market data charges to the research group for february 2001 clifford : in reviewing our february eis billing summary for co # 0413 , cc # 107043 , i have several questions . telerate : ( february charges : $ 3 , 032 , 35 ) i polled the group and only one person has asked for telerate and he is not shown being charged for it . that is jason sokolov . he would like to have access to telerate . if you could let me know how to get that for him . the largest percent of the telerate charges appear to be for maureen raymond , who says that she does not use telerate . could she be accessing some data that she does not know is telerate ? please let me know . if there are individual accounts for telerate the only one we need is for jason sokolov , unless maureen ' s charges are for something that she does not know is telerate . tanya tamarchenko does not need telerate and she has the second largest percentage of the charges . anyway , the only telerate subscription we need is for jason sokolov . reuters : ( february charges : $ 405 . 96 ) no one in research uses reuters . i believe most of the charges are for hector campos who used it when he was on the trading desk . when he rotated into the research group he did not need it any longer , but is still being billed for it . please remove from the research cost center . the following individuals are no longer with enron or no longer with research and their accounts should be removed from the research cost center . clayton vernon no longer with the research group remove his lim / lim / excel and lim core charges from the research cost center brad amoine no longer with enron remove his lim / lim / excel and lim core charges from the research cost center shalesh ganjoo no longer with the research group remove his lim and lim core charges from the research cost center i hope this is not too confusing ! please advise . thanks ! shirley crenshaw

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Subject: re : eol wti historical trade simulation stinson , thanks a lot for so much work you have done for the simulation model . it seems that our work will make an impact on eol trading , that is very exciting . could you e - mail me the spreadsheet model so that i can catch up with the changes you have made ? i read a few books during this vocation . especially a stochastic processes book , i finished the entire book . the queueing theory is very fascinating , and hopefully we can apply the theory to a real ebs project . i will take my family out to see the nature bridge caverns near san antonio tomorrow . see you on tuesday . happy new year ! zimin stinson gibner 12 / 27 / 2000 08 : 09 pm to : greg whalley / hou / ect @ ect , john j lavorato / corp / enron @ enron cc : vince j kaminski / hou / ect @ ect , zimin lu / hou / ect @ ect subject : eol wti historical trade simulation greg , here are results corrected for spread profit per round - trip transaction . prior results incorrectly counted a spread profit per trade . stinson

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Subject: re : high - end desktop computing ? shirley , yes , it will be a swap of one machine for another . vince shirley crenshaw 03 / 17 / 2000 12 : 17 pm to : vince j kaminski / hou / ect @ ect cc : subject : re : high - end desktop computing ? vince : is this ok to order ? - - - - - - - - - - - - - - - - - - - - - - forwarded by shirley crenshaw / hou / ect on 03 / 17 / 2000 12 : 17 pm - - - - - - - - - - - - - - - - - - - - - - - - - - - clayton vernon @ enron 03 / 17 / 2000 09 : 34 am to : mark davidson / corp / enron @ enron , shirley crenshaw / hou / ect @ ect cc : subject : re : high - end desktop computing ? mark - shirley will order an 800 mhz machine with 512 mb of ram , and a large ( 17 " + ) flat - screen monitor for me . clayton mark davidson 03 / 17 / 2000 08 : 52 am to : clayton vernon / corp / enron @ enron cc : shirley crenshaw / hou / ect @ ect subject : re : high - end desktop computing ? clayton - sorry it took so long to get back to you . there are a couple of things to keep in mind : - enron it supports enron equipment . - all equipment must be purchased through " enron it purchasing " our current high end desktop is a 800 mhz pentium iii machine with 128 m of ram . you can bump up the ram to whatever you feel is appropriate . when the lghz processors come out ( in the very near future ) that will become our standard . what we want to avoid is getting equipment that we do not have a image for . the " image " is the complete package of software that we put on a machine when it is deployed . if you go out and buy a machine that we do not have a image for , we can ' t support it for a multitude of reasons . hopefully this answered your questions / concerns . if not , please call me so that we can discuss this further . thanks mark davidson x 39038 clayton vernon 03 / 14 / 2000 03 : 39 pm to : mark davidson / corp / enron @ enron cc : subject : high - end desktop computing ? mark - i have developed a model for enron that requires ultra - high - end pc performance ( it does many calculations in excel ) , and my boss has authorized me to buy whatever pc i need . i ' m looking at the compaq 850 , but richard ( our floor rep ) says no pc ' s over the 600 series will be supported by it . i need to resolve this issue ; we are sophisticated buyers , we know the type of machine we want , and we have the money to pay for it . sincerely , clayton vernon manager , research

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Subject: research meeting all john sherriff has suggested we all get together in the near future to discuss the demands being placed on the research group . i will be making a request for additional resources , and the aim of the meeting is to determine the most appropriate size for the team . assistants : can we aim for week commencing 6 th november ? vince : would you like to teleconference in ? many thanks steve

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Subject: re : statistica & lunch rick , we are using sas . i am glad you can speak at our lunch meeting on feb 15 . vince richard b jones @ ees 02 / 05 / 2001 11 : 26 am to : vince j kaminski / hou / ect @ ect cc : subject : statistica & lunch vince , do we have a site license for statistica ? what stat software do you use ? i am prepared to talk at your lunch . i think we said thurs feb 15 th 11 : 30 - 1 : 00 . i would liie to have a computer display if possible . i ' ll bring my pc . what ' s the room # again ? rick jones

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Subject: free lancer eventos free lancer eventos servi?o profissional na ?rea de promo??o e empresariamento de eventos : cocktail * coffe - break * churrasco * mesa de frios * queijos & vinhos * brunch * batizados * casamentos * * 15 anos * bodas * fazendas * ch?caras * s?tios * * feiras * conven??es * eventos em geral . * temos tamb?m encomendas de salgados , bolos , doces e aluguel de material em geral . contrata??o de profissionais : * gar?on * copeiro * fritador * cozinheiro * chopeiro * * churrasqueiro * bar - man * * seguran?a e recepcionista * fazemos toda a ?rea do rio e grande rio ou outros estados , se assim desejar . temos bons profissionais para fazer de sua festa um momento inesquec?vel de prazer e alegria . para qualquer esclarecimento : tel . : 21 2573 . 6864 / 2270 . 5260 / 9419 . 4970 fax no . 21 - 2260 . 8466 e - mail : freelancereventos @ globo . com * * empresa inscrita no sicaf * *

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Subject: warning system greg , as a follow up . we are talking to jay webb today about the data we can get from the enron online system to develop an early warning system for automated crude trading . by the way , it was a good catch . you left us red faced . vince

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Subject: thursday summer intern dinner vince : is it ok to send the following out to the interns ?

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Subject: unauthorized transactions on your account update your account dear valued cust omer we r egret to inform you that your account at ebay could be suspended if you don ' t update your billing information . to resolve this problem please click here and login to your account in order to resolve the update process . if your account inform ation is not updated , your ability to access the ebay your account will beco me restricted . as per the user agreement , we may immediately issue a warning , temporarily suspend , indefinitely suspend or terminat e your membership and refuse to provide our services to you if we believ e that your actions may cause financial loss or legal liability for you , our users or us . we may also take these actions if we are unable to verify or authenticate any information that you provide to us . due to the suspension of this account , please be advised you are prohibited from using ebay in any way . this include s the enrolling of a new account . please note that this suspension does not relieve you of your agreed - upon obligation to pay any fees you may owe to ebay . copyright 1995 - 2005 ebay inc . all rights reserve d . designated trademarks and brands are the property of their respective owners . u se of this web site constitutes acceptance of the ebay user agreement and privacy policy .

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Subject: re : sddp vince many thanks for you help with this - look forward to receiving the info on sddp . kind regards , john

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Subject: term project : this is the list of projects for the members of the " quant " team . if you are working on different project , please , ignore this message . please , develop in a spreadsheet solutions / examples for the following : 1 . black - scholes formula 2 . black ' s formula 3 . develop a spreadsheet to simulate price trajectory using : a . gbm b . gbm + jump ( formula 2 . 16 in the book , figure 2 . 7 ) c . mean reversion + jump ( formula 2 . 17 , figure 2 . 8 ) 4 . schwartz single factor model ( formula 6 . 12 ) 5 . develop models corresponding to the figures 7 . 1 , 7 . 3 , 7 . 5 , 7 . 6 , 7 . 8 vince

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Subject: iris m . mack ms . mack has called you several times today trying to return your call . she is currently in new york until december 2 , 2000 . ms . mack is interested in talking with you regarding a position here . she is currently on vacation in new york and she will be difficult to reach . i suggested that she try to reach you by phone at 8 : 00 am our time tomorrow . also , she will be checking her emails and voice mails regularly if you can give her a time and a phone number where she might reach you whiole she is on vacation . if she is unable to reach you before the holiday , she left some phone numbers where she may be reached beginning tuesday , november 28 , 2000 in new york . tuesday , november 28 - thursday , november 30 washington square hotel 212 - 777 - 9515 friday , december 1 - saturday , december 2 marriott hotel 212 - 385 - 4900 also , her email is irismmack @ hotmail . com . she said you need both m ' s .

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Subject: sas to the group : if you wish to use sas , there are a few simple things you need to do : 1 ) you need to get a unix password if you don ' t already have one ( your user id will be the same as on the nt network , but a different password is issued ) 2 ) you need a program called " exceed " on your pc . request it from it ( you already have this if you are already a user of lim on the unix platform ) 3 ) you need an " ftp " program on your pc . you can go to www . download . com and download one ( i like wsftp ) 4 ) exceed is funny in the way it runs . when you invoke exceed ( or lim advanced user ( under infobases ) if you already have this ) it will install itself the first time , and will then " disappear " to the taskbar . you need to * right * click on the taskbar on exceed , and then choose " tools " and " client startup " and then " new . " you will enter a box which should already be set for rexec and an xwindow emulation . you need to specify the host type as sun , enter your user name and password , set the host name to : capers . ect . enron . com and then , on the command line , type the following ( carefully ) : / usr / openwin / bin / xterm - display @ d then , use the file menu to save this as capers . xs and then click on the run ! menu . within a second or two , a window will open up with you logged into the serve capers . you are now on a unix server , and the directory is your home directory . from here , if you simply type " sas " the 3 windows for an interactive session with sas should open on your desktop . you are in business . 5 ) you also need to install your ftp . follow the procedures with the software , and then create a new session called " enron " where you choose as the server simply " earth " ( do not add any further descriptors such as . enron . com ) . supply your user name and * unix * password , check the " remember password " box , and the default communication setups should be correct ( eg , host type as " automatic detect " ) . when you invoke ftp and connect to enron , it will put you in your home directory on the unix system , the same directory your xwindow comes up in under exceed . if you have any problems , i ' ll be happy to help clayton ps i have a complete set of new sas manuals i am happy to loan out if you ' ll just write your name down when you take them .

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Subject: don ' t be a fuddy - duddy . . . use the software everyone ' s using . . . send the love home with an online photo album we was robbed ! how could i lose to such an idiot ?

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Subject: interview with norberto valdes hello all : norberto telephoned me this morning and will not be able to come on friday , may 5 th . we have rescheduled the interview for monday , may 1 . the times are as follows : vasant shanbhogue 1 : 00 pm vince kaminski 1 : 15 pm clayton vernon 1 : 30 pm stinson gibner 1 : 45 pm tanya tamarchenko 2 : 00 pm grant masson 2 : 15 pm they will be conducted in ebl 938 thanks ! shirley

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Subject: fw : london work hi , how are you ? london seems to be the same as when i left in august - no sun , cold , serious looking people , expensive , etc . in addition , we have had may day riots , a post office bombing , train strike , etc . not to mention all the excitement in enron credit . it would be nice to know who i am supposed to be reporting to . i am getting loads of conflicting messages - as illustrated in the forwarded email from vasant . according to you and slava , the strategy paper / duffie report seems to be a higher priority . however , vasant seems to indicate ( in his forwarded email ) that this is not the priority at the moment . in addition , there seems to be lots of chaos in enron credit - not only in the houston office , but even more so in the london office . this brings to mind a russian proverb i learned from slava when he expressed his views on the current state of enron credit - " a fish rots from the head . " finally , i would like to know exactly what you want me to write in this duffie report : do you want to hear what enron credit would like to hear - that all they need is for us to develop a private firm model for their exisiting " infrastructure " ? or do you want to hear what i really see , hear , read , etc . ? if the latter is true , then i may need to write two reports , because what i am learning does not look too good and would probably not make the enron credit personnel too happy . well , i think i have said enough for now . look forward to your feedback . thanks , iris - - - - - original message - - - - - from : shanbhogue , vasant sent : friday , may 04 , 2001 3 : 39 pm to : mack , iris cc : dhar , amitava subject : london work hi iris , amitava must have told you that both he and i are getting swamped with work here . as a result , we expect you to take the lead in scoping the enron credit project and making sure the infrastructure is readied . you should also make sure to understand the econometric / data analysis software side of the project - - this is probably more important than preparing a document for duffie right now . you should definitely sit with ben / george and actually run the software with them to get a feel for how it is to be used . but we also need to be able to try out potential other ways of analyzing data . both amitava and i will help as best as we can , and answer any direct questions , but we will have limited time to review documents , etc . i expect amitava to get heavily involved once data starts coming , but we expect you to have already set up the infrastructure etc for the data . hope the trip is going well . would you be extending the trip for some more time ? vasant

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Subject: considered unsolicited bulk email from you your message to : - > distmora @ agrocom . com . ar was considered unsolicited bulk e - mail ( ube ) . subject : just to her . . . return - path : delivery of the email was stopped !

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Subject: re : tani , yes , i am aware of it . thanks for letting me know who is the hr rep in london . vince tani nath 05 / 02 / 2001 09 : 01 am to : vince j kaminski / hou / ect @ ect cc : tara rozen / lon / ect @ ect subject : vince , i don ' t know if you are already aware of this , but maureen raymond has been taken ill and i understand has received medical advice that she should not travel before the end of next week at the earliest . tara is the appropriate hr representative in london ; i will ask her to keep both you and houston hr informed of the situation . many thanks , tani

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Subject: prc meeting hello everyone : it looks like friday , december 8 th is the day that you will have the prc meeting listed below . mark your calendars - details later . thanks ! shirley - - - - - - - - - - - - - - - - - - - - - - forwarded by shirley crenshaw / hou / ect on 10 / 30 / 2000 01 : 23 pm - - - - - - - - - - - - - - - - - - - - - - - - - - - norma villarreal 10 / 28 / 2000 10 : 47 am to : shirley crenshaw / hou / ect @ ect , stinson gibner / hou / ect @ ect , mike a roberts / hou / ect @ ect , vasant shanbhogue / hou / ect @ ect , pinnamaneni krishnarao / hou / ect @ ect , maureen raymond / hou / ect @ ect , zimin lu / hou / ect @ ect , osman sezgen / hou / ees @ ees cc : vince j kaminski / hou / ect @ ect , ramona perkins / corp / enron @ enron subject : performance the research group will be conducting a performance review committee ( prc ) meeting in early december . all vice presidents , sr . directors and directors should attend . shirley crenshaw will be contacting you to schedule the prc meeting date and time . these are the current available dates : december 4 , 8 . in preparation for the meeting please submit recommended rankings and promotions to me based on employee feedback by november 29 , 2000 . please included analyst / associates , if you have any questions please feel free to call me or ramona perkins at x 58165 . here is some helpful information for you as we proceed throughout he performance evaluation process october 25 , 2000 - november 17 , 2000 ( 3 1 / 2 weeks ) : employees will provide a list of accomplishments occurring after june 1 , 2000 to their supervisors employees will receive an email advising of access and passwords to pep system ( 10 / 25 ) employees identify selected reviewers on line and will submit to supervisor supervisor will add and / or delete reviewers in order to capture a full 360 degree feedback supervisor will submit and reviewers will receive an e : mail advising them of their reviewer role reviewers can decline or complete the review once system closes on november 17 , 2000 , prepare for research prc meeting ( print consolidate review , pre rank employees , identify candidates for promotion and submit to hr ) important dates ( i will notify you of any changes ) : september 30 , 2000 only employees before 10 / 1 / 00 will be included for pep and bonuses october 15 , 2000 whomever is the supervisor for employees on 10 / 15 / 00 will be responsible for their reviews october 25 , 2000 pep system opens ( http : / pep . corp . enron . com ) october 30 - 31 , 2000 pep overview session at doubletree november 17 , 2000 pep system closes for feedback november 23 - 24 thanksgiving holiday november 29 , 2000 provide hr with pre - rankings and promotions december tbd , 2000 research prc january 31 , 2001 all reviews must be complete , signed and submitted to hr norma sr . hr representative x 31545

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Subject: a cry for help dear friend , i am mrs . sese - seko widow of late president mobutu sese - seko of zaire ? now known as democratic republic of congo ( drc ) . i am moved to write you this letter , this was in confidence considering my and situation . i escaped along with my husband and two of our sons george kongolo and basher out of democratic republic of congo ( drc ) to abidjan , cote d ' ivoire where my family and i settled , while we later moved to settled in morroco where my husband later died of cancer disease . however due to this situation we decided to changed most of my husband ' s billions of dollars deposited in swiss bank and other countries into other forms of money coded for safe purpose because the new head of state of ( dr ) mr laurent kabila has made arrangement with the swiss government and other european countries to freeze all my late husband ' s treasures deposited in some european countries . hence my children and i decided laying low in africa to study the situation till when things gets better , like now that president kabila is dead and the son taking over ( joseph kabila ) . one of my late husband ' s chateaux in southern france was confiscated by the french government , and as such i had to change my identity so that my investment will not be traced and confiscated . i have deposited the sum eighteen million united state dollars ( us $ 18 , 000 , 000 , 00 . ) with a security company , for safekeeping . the funds are security coded to prevent them from knowing the content . what i want you to do is to indicate your interest that you will assist us by receiving the money on our behalf . acknowledge this message , so that i can introduce you to my son ( kongolo ) who has the out modalities for the claim of the said funds . i want you to assist in investing this money , but i will not want my identity revealed . i will also want to buy properties and stock in multi - national companies and to engage in other safe and non - speculative investments . may i at this point emphasise the high level of confidentiality , which this business demands , and hope you will not betray the trust and confidence , which i repose in you . in conclusion , if you want to assist us , my son shall put you in the picture of the business , tell you where the funds are currently being maintained and also discuss other modalities including remunerationfor your services . for this reason kindly furnish us your contact information , that is your personal telephone and fax number for confidential purpose . best regards , mrs m . sese seko

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Subject: faculty contact and schedule persentation dear mr . kaminski , the following are the faculty details : ms . deborah j . barrett instructor & dir . , mba communications phone 713 - 348 - 5394 barrett @ rice . edu mr . wil uecker associate dean for executive education phone 713 - 348 - 5869 uecker @ rice . edu mr . dennis wayne loughridge adjunct professor - management phone 713 - 348 - 4869 lounghrid @ rice . edu i will also speak with the faculty and inform them about the details concerning the presentation on may 7 at enron office ( time to be determine ) and the dinner following it . sincerely , luigi calabrese rice mba candidate class of 2002

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Subject: re : bei enron gordian kemen on 03 / 15 / 2000 09 : 13 : 47 am to : jens . gobel @ enron . com cc : subject : career opportunities @ enron hi vince , following up to our chat on the phone . gordian kemen will be arriving in austin on the 16 th . he will be staying in austin for 2 weeks . he would very much appreciate to have the opportunity to have a talk with you to find out if there is a place for him at enron . you can reach him under ( 512 ) 301 - 9819 ( his parents in law ' s phone number ) . thanks a lot for you help and attention , jens - gordianresume . pdf

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Subject: enhance your anatomy i ' ve been using your product for 4 months now . i ' ve increased my length from 2 to nearly 6 . your product has saved my sex life . - matt , fl my girlfriend loves the results , but she doesn ' t know what i do . she thinks it ' s natural - thomas , ca pleasure your partner every time with a bigger , longer , stronger unit realistic gains quickly to be a stud press here if that is so you probably owe your existence to those laws oranjestad , aruba , po b 1200 here , then , i made my home ; and although it is a lonely place i amuse myself making rustles and flutters , and so get along very nicelywhen the braided man had completed this strange tale dorothy nearly laughed , because it was all so absurd ; but the wizard tapped his forehead significantly , to indicate that he thought the poor man was crazy the demon nodded doubtless it was intended that when mankind became intelligent enough and advanced enough to strike the master key , you and all your devices would not only be necessary and acceptable to them , but the world would be prepared for their general use

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Subject: ena meeting and event expenditure approval process the approval process initiated in 1998 for all meeting and event expenditures in excess of $ 5 , 000 has enabled ena to better assess the business value of events , accurately track our activities and save money . these events include customer and employee meetings , and trade shows . ena has made some modifications to the process , which are described in this memo . the $ 5 , 000 threshold remains in effect for all customer events . however , the threshold for approval for employee meetings and events has been lowered to $ 2 , 000 , and some additional requirements must be met prior to approval . please be sure to follow the procedures described below for all meetings and events , so we can continue to successfully manage these events . 1 ) prior to making any commitments to customers or vendors , all customer events with anticipated costs in excess of $ 5 , 000 , and all employee events with anticipated costs in excess of $ 2 , 000 must be reviewed by the ena public relations ( pr ) department and approved by the ena office of the chairman 2 ) the pr department will handle the site search and hotel contract negotiations for all such events . once this is completed , the pr department will work with you to plan and produce your event in its entirety ; or they can provide as much or as little assistance as you require . the pr department will be responsible for helping you achieve the best value for your program and ena . 3 ) a completed expenditure request form ( see attached ) and supporting documentation is required for each event . employee meetings require a detailed agenda as part of the event documentation prior to approval . please submit the completed expenditure request form and documentation to the pr department at eb 3642 , or work with pr department employees to complete the form . 4 ) after pr review , the expenditure will be submitted to the ena office of the chairman for final approval . additionally , the pr department can assist in the procurement of tickets for various local sporting events and concerts . if you have any questions regarding this process , would like assistance planning an event , or need tickets for a houston event , please contact dorie hitchcock in the pr department at ( 713 ) 853 - 6978 . thank you for your cooperation .

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Subject: amit , paulo , and juan carlos , feb . 16 all : the meeting on wednesday , feb . 16 th , with the students from m . i . t . is scheduled to be held in 19 c 2 . please let me know if you are planning to attend all or part of the day so i will know a rough headcount to expect . ( samer and chonawee : please plan to come . ) as i understand it , there are two goals for the day : 1 . transfer any useful tools or knowledge from amit . 2 . evaluate the other two students to see if there is value in establishing an ongoing relationship with them . agenda 9 : 00 a . m . - 9 : 45 a . m . overview of ebs ( for paulo and juan carlos ) 10 : 00 - 10 : 30 review background and research interests of paulo and juan carlos 10 : 30 - 11 : 30 roundtable discussion of possible common areas of interest . lunch 12 : 30 - 2 : 00 amit dhadwal - review of model for pricing spot bandwidth 2 : 00 - 3 : 30 roundtable discussion of current model an possible future areas of research

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Subject: free original star wars cards adv : own a unique , one - of - a - kind piece of star - wars history ! exclusively licensed fromlucas film ltd . this innovative new collectible is the first to display an authentic one of kind 70 mm film frame from the star wars / empire strikes back movie containing a one of a kind 70 mm frame in a 7 - 1 / 2 " x 2 - 3 / 4 " diamond cut , acrylic , mint collector ' s case . fact : no two frames are alike each film frame is a unique original and will never be reproduced . each fully licensed original film frame is sealed and individually serial numbered with identification codes tamper proof holographic seals to prevent fraudulent duplication . # 50049 lightsaber duel special edition : features the fantastic lightsaber duel between luke skywalker and darth vader . this special edition # 50049 lightsaber duel was only available with the willitts premium package # 50707 , which sold in retail shops for $ 125 . 00 . special , internet offer ! order now and receive the above rare special edition # 50049 lightsaber duel for this special internet price of only $ 19 . 95 ! special bonus with your order , you will receive 10 original 1980 topps star wars / empire strikes back collector cards absultely free ! these are original 1980 topps star wars / empire strikes back collector cards from 22 years ago ! not reprints ! hurry ! please , respond now before our limited supplies are exhausted ! ! your film cell image may differ from the above sample . click here ! you have received this email as an opted - in subscriber , if this is not the case , please click on the following link to be permanently removed from our database . please take me off this list 866 - 667 - 5399 nouce 16822 22 nd avenue northsaint petersburg , fl 33710 - 3918

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Subject: entouch newsletter business highlights weather trading the weather desk closed a 3 - year precipitation collar with payouts linked to natural gas prices . the transaction hedges included asian options from the gas market , precipitation floors from the weather market , and precipitation insurance from the insurance market . eight companies were involved in the transaction including the following enron companies : egm , ena , enron re , and rmt . along with the hedges , the end result of the transaction is cheap 3 - year precipitation call options and precipitation dependent natural gas call options for the weather desk . houston pipe line company on thursday , january 11 , american electric power ( nyse : aep ) announced that they have executed a definitive agreement under which aep energy services gas holding co . , a wholly owned subsidiary of aep , will acquire the stock of houston pipe line co . from enron corp . included in this agreement are all of the pipeline assets of hpl , as well as a 30 - year operating lease for the bammel storage facility , the houston loop and the texas city loop . in the news " enron is , in other words , the biggest , baddest b 2 b e - commerce company on the planet , and its experience belies the idea that innovation is impossible in large organizations . " - - ecompany now , january / february 2001 . brown bag mark your lunch calendars now for the upcoming brown bag featuring gary taylor , manager in weather trading . he will present an overview of the weather risk management market . it
, s next thursday , january 18 , 11 : 30 am - 12 : 30 pm , in 5 c 2 . rsvp today to ext . 5 - 7352 . nuggets & notes " what am i missing ? ! " - mike bradley , vice president / equity trading - egm " do something ! " - david vitrella , manager / equity trading - egm " we may not do the most enrononline trades , but we do the largest " - larry gagliardi , director / oil products - egm
& we have completed an efficient and successful transition from energy outsourcing to steel . of course , as my dad used to say ,
+ talk ' s cheap , takes money to buy whiskey .
, in 2001 , we ' ll let our p & l performance do the bulk of the talking .
8 - tim battaglia , vice president / steel origination - eim congratulations to william stuart , manager in currency trading and charla stuart , manager in community relations . they are the proud parents of aaron myles stuart , who was born january 9 and weighed 7 . 11 lbs . sean keenan , associate in eim , and wife , katherine , are the proud parents of william patrick , who was born january 1 and weighed 6 . 4 lbs . carlos ruiz , associate in eim , and wife , maria , are excited to announce the arrival of their new baby boy . cristobal ruiz was born on january 8 and weighed 7 lbs . welcome new hires ena - thomas barkley , rakesh bharati , delmar davis , andrew edison , brendan fitzsimmons , patricia goode , michelle huber , ken lewchuk , wykena lipscomb , albert meyers , stacie mouton , victor munoz , wichai narongwanich , christopher ordway , brent johnston , michael law , michelle wells , peter piorecki , eim
) jill lafave legal stuff the information contained in this newsletter is confidential and proprietary to enron corp . and its subsidiaries . it is intended for internal use only and should not be disclosed .

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Subject: re : 6 . 25 30 yr fixed home loan , no points flu dear homeowner , * 6 . 25 % 30 yr fixed rate mortgage interest rates are at their lowest point in 40 years ! we help you find the best rate for your situation by matching your needs with hundreds of lenders ! home improvement , refinance , second mortgage , home equity loans , and more ! even with less than perfect credit ! click here for a free quote ! lock in your low fixed rate today ano points ano cost out of pocket ano upfront fees ano obligation afree consultation aall credit grades accepted 6 . 25 % won ' t stay this low forever ! click for your free quote , now ! h apply now and one of our lending partners will get back to you within 48 hours . click here ! to be removed please clicking here .

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Subject: datren williams acceptance fyi - - - - - - - - - - - - - - - - - - - - - - forwarded by stinson gibner / hou / ect on 10 / 10 / 2000 08 : 10 pm - - - - - - - - - - - - - - - - - - - - - - - - - - - carol coats 09 / 29 / 2000 02 : 36 pm to : celeste roberts / hou / ect @ ect cc : stinson gibner / hou / ect @ ect subject : datren williams acceptance celeste , i just received datren williams ' acceptance with the following note attached : " my graduation date ( ph . d . candidate from lsu ) is dec . 2000 . celeste roberts has informed me that i would have the option of starting work feb . 2001 . i am under the impression that i will start in feb . 2001 . my offer letter has a start date of aug . 2001 . if this is a problem , please give me a call . looking forward to working at enron . thanks a million , datren w . " please let me know if he may in fact start in feb . 2001 , and if so , do you have a specific date for him , or may he choose ? thanks , celeste , carol

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Subject: security alert - confirm your national credit union information - - >

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Subject: to ops - revised february bod approved risk management policy fyi - - - - - - - - - - - - - - - - - - - - - - forwarded by cassandra schultz / na / enron on 02 / 18 / 2001 10 : 44 pm - - - - - - - - - - - - - - - - - - - - - - - - - - - from : cassandra schultz 02 / 18 / 2001 10 : 26 pm to : bob m hall / na / enron @ enron , leslie reeves / hou / ect @ ect , jeffrey c gossett / hou / ect @ ect , peggy hedstrom / cal / ect @ ect , stacey w white / hou / ect @ ect , brent a price / hou / ect @ ect , scott earnest / hou / ect @ ect , sheila glover / hou / ect @ ect , d todd hall / hou / ect , cindy horn / lon / ect @ ect , brenda f herod / hou / ect @ ect , mike jordan / lon / ect @ ect , howard carter / eu / enron @ enron , andrew cornfield / lon / ect @ ect , james new / lon / ect @ ect , orjan agdesteen / osl / ect @ ect , james new / lon / ect @ ect , marcelo parra / nyc / mgusa @ mgusa , louis colarusso / nyc / mgusa @ mgusa , heidi mason / enron _ development @ enron _ development , jan - erland bekeng / ap / enron @ enron , kevin rhodes / eu / enron @ enron , naomi connell / lon / ect @ ect cc : sally beck , shona wilson , chris abel subject : to ops - revised february bod approved risk management policy attached is the revised risk management policy incorporating the bod ' s changes - please discard the previously circulated version i sent out prior to the bod meeting . i ' ve also included a recap of substantive changes since the october 2000 version that was circulated to you in conjuction with the compliance certificates last fall , but you should read the policy to enhance your understanding , and distribute it to your groups as some changes are significant and are detailed further in the policy . i did notify the office of the chair for each of your business units of these changes earlier this week , and i will also provide them with a copy of the revised policy . if you have any questions , feel free to give me a call at x 30429 . regards , cassandra schultz market risk management

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Subject: re : carnegie mellon recruiting good afternoon . i have forwarded your email to kristin gandy . she is heading up our cmu recruiting effort . some contact info : ( 713 ) 345 3214 , kristin . gandy @ enron . com we are very interested in the comp . fin . students , and would tentatively like to interview them in december , probably the week of the 11 th , and around the same time that we come to interview the mba ' s . i ' m uncertain as to the proper path forward . could you provide some details ? regards , kevin kindall sallygould on 11 / 16 / 2000 03 : 38 : 44 pm to : kevin . kindall @ enron . com cc : subject : carnegie mellon recruiting kevin , jean eisel asked that i connect with you about recruiting comp . finance students . please contact me with questions you might have about the recruiting process or if you have some dates in mind for coming to campus . i look forward to hearing from you . regards , sally gould recruiting coordinator gsia - carnegie mellon university 412 - 268 - 1311 412 - 268 - 4146 ( fx )

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Subject: continue enjoying iijournals - - renew today ! dear vince kaminski , we hope you are enjoying the benefits of receiving market - leading , rigorous and current research from industry experts through your subscription to derivatives quarterly . unfortunately , your subscription is about to expire ! by renewing now , your access to the web site and to your print copies will be uninterrupted . you can continue to get the exclusive research and practical advice for financial practitioners
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Subject: re : manabu matsumoto hi lucy / natalie given that manabu is perceived as the " specialist " type , and probably shouldn ' t go straight into the gas trading group , this may have implications for research headcount if he ' s considered a good non - a & a hire . i ' ll be spending the next couple of weeks canvassing opinions from various vps and mds over their preferred size , role and style of research group for europe . i think we should delay manabu ' s second round interviews for a while . cheers , steve lucy page 07 / 20 / 2000 07 : 38 pm to : steven leppard / lon / ect @ ect cc : natalie cilliers / lon / ect @ ect subject : manabu matsumoto steve , i am out of the office tomorrow and was just wondering if you ' d had a chance to think about the interview list for manabu ? if you get a list together , natalie will be able start working on it - alternatively i will catch up with you on monday . natalie - just so you know manabu will be coming in for second round but not for the a & a programme - probably a specialist in steve ' s group ( we ' ll pass it over to commercial support next week ) cheers lucy

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Subject: re : spring workshop folks : it is my pleasure to announce the visit of professor rene carmona from princeton on february 13 , 2001 . ( this web site may provide a little information on professor carmona : http : / / www . princeton . edu / ~ rcarmona / ) professor carmona is going to talk to us about his research endeavors in weather and financial engineering . similarly , we will make a short presentation of our activities and research interests . the aim of the meeting is to explore areas of common interest and investigate the possibility of collaborating in certain research areas . the time is 2 : 00 - 3 : 30 pm . room eb 30 cl is reserved for 2 : 00 - 4 : 30 pm . please plan on attending . also , do let me know , if you would like to include someone else to this distribution list . yannis tzamouranis

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Subject: otc gdvi - the momentum continues - gdvi website debute otc bbalert gdvi news update : global diversified industries debutes brand new website ! www . gdvi . net otc bb alert spectacular operating results momentum continues sales projections for next 12 months surpasses $ 20 million 99 . 8 % revenue increase 278 % net income increase 154 % stockholders equity increase 79 % increase in assets $ 8 million order backlog $ 50 million manufacturing capacity overview global diversified industries operates in the modular building construction industry , and strategically targets the california education sector . gdvi is strategically located in central california on 16 acres with a 100 , 000 square foot state - of - the - art manufacturing facility . throughout 2003 and 2004 the company focused on building its infrastructure through acquisitions , development of a state - of - the - art manufacturing facility , and by securing the requisite financing facilities to fuel business growth . through the combination of its new facility ( $ 50 million capacity ) , the increased demand for portable buildings and the state of california ' s bond approvals , gdvi has become well positioned to become one of the dominant leaders in modular manufacturing on the west coast . gdvi should benefit greatly from the $ 12 . 1 billion school improvement bond that is expected to be passed by california voters next month ( march ) . this presents , in our opinion an opportunity for early investors of gdvi to also benefit before the mainstream investor realizes who the benefactors are and subsequently invests in those companies . global diversified has taken numerous strategic development steps throughout 2003 and 2004 , including generating strong revenues as well as profits and is now poised for explosive growth in 2005 . the company is led by a strong management team with previous success in building companies into $ 50 million per annum businesses . in the past year gdvi has exceeded its own sales revenue projections , renewed its piggyback contract , received state approvals on engineered product designs , started a new credit facility and opened its new 100 , 000 square foot manufacturing facility . the company will continue to seek new acquisition candidates through its aggressive growth plan . profile gdvi is a holding company that currently operates two wholly owned subsidiaries , mbs construction inc . , a modular contractor specializing in modular construction site work and renovation and global modular , inc . , a sales , marketing and manufacturing of modular type structures . its principal customer base is currently educational ( public and private schools , universities , etc . ) , child - care and municipality sectors . its product lines consist of a variety of portable classroom designs , including both single - story and two - story floor plans . global modular ' s portable classroom structures are engineered and constructed in accordance with pre - approved building plans , commonly referred to as p . c . ' s or pre - checked plans , that conform to structural and seismic safety specifications administered by the california department of state architects ( dsa ) . global modular also enjoys the benefit of providing educational customers with products contracted under a piggyback clause . the state of california allows school districts to canvass proposals from modular classroom vendors under a bidding process where the successful bidder can provide other public school districts and municipalities portable classrooms under a piggyback contract issued by the originating school district . this process saves school districts valuable time and resources from the necessity of soliciting bids . a modular vendor who possesses a piggyback contract containing competitive pricing and a variety of design options may have access to future business for up to five years , depending on the term of the piggyback contract . the strategic focus on california schools since 1998 , california legislation has required that at least 20 % of all new classrooms constructed with state funds be portable structures . there are five compelling reasons for this trend : modular classrooms are faster to construct ( as quickly as 2 weeks ) they cost significantly less ( as low as $ 30 , 000 vs . $ 100 , 000 ) they offer greater flexibility for use compared to conventional buildings they are easier to finance they provide financing incentives to cope with population growth , the state department of education estimates that california will need more than 2 , 500 classrooms each year for the next four years , which equates to more than 10 , 000 classrooms . due to the current and projected budget cuts throughout the california education sector , public and private schools are expected to turn to portable / modular construction to fulfill their additional classroom requirements over the next four years . the california schools budget crisis on november 5 , 2002 a $ 13 . 2 billion school facilities improvements bond proposal ( proposition 47 ) was passed by california voters . this bond measure passage does not include an approximate $ 9 . 4 billion worth of local bond measures passed by various school districts throughout the state . a second bond measure worth $ 12 . 1 billion went before the voters on the march 2004 . these bond measures are about three times higher than the record $ 9 . 2 billion bond california voters approved in 1998 . the revenue generated from these bond measures will be used for school modernization programs , which include requirements for relocatable classrooms and modular classroom construction and renovations . money from the bonds will help overcrowded public and private schools ; design upgrades and expand building space at community colleges and other institutions of higher learning throughout california . gdvi business infrastructure among global modular ' s asset base is its integrated , state - of - the - art , automated manufacturing process which includes equipment , raw material and marketing collateral that are specifically designed for the high capacity fabrication of modular structures . gdvi employs a workforce of 60 employees and is looking to add to its workforce as demand increases . operates out of a sixteen acre site with a 100 , 000 square foot operating structure . wholly owned subsidiary ( global modular inc . ) markets , designs and manufactures the buildings wholly owned subsidiary ( mbs corporation ) handles installation and building renovation . symbol otc . bb gdvi recent price 13 . 5 cents management team philip hamilton , ceo and president mr . hamilton has an extensive and very successful background in modular manufacturing . from 1996 to feb 2000 he served as chairman and ceo of pacesetter industries inc . he built this company from inception into one of californias largest manufacturers , producing and installing thousands of schools and commercial buildings . under his leadership , pacesetter industries moved into a 5 , 500 , 000 sq . ft . facility in atwater , california with branch sales offices throughout the state . the company employed a staff of over 650 employees and had annual sales of $ 50 , 000 , 000 . adam de bard , vice president mr . de bard has over 6 years of experience in the manufacturing and business sectors . from 1997 to 2000 he served as vice president and chief information officer of pacesetter industries . ronald kilpatrick , director of finance mr . kilpatrick has 36 years experience in both domestic and international development and management of major corporations . he is a managing partner of pacific rim capital llc which provides venture capital to projects in the pacific rim . recent headlines global diversified industries , inc . commencing efforts to increase its u . s . based investor and public relations visibility pr newswire ( tue 5 : 00 am ) global diversified industries , inc . modular division secures new order worth more than $ 3 million for immediate delivery pr newswire ( thu , jun 9 ) wallst . net airing all - new , exclusive audio interviews with gdvi and geoi pr newswire ( tue , jun 7 ) wallst . net airing exclusive audio interviews with gdvi and xle pr newswire ( thu , jun 2 ) global diversified industries , inc . acquires valuable assets from california modular company pr newswire ( thu , may 26 ) global diversified industries , inc . modular division implementing its fourth production line pr newswire ( thu , may 19 ) talkingstocks . com announces interview with philip hamilton , president and ceo of global diversified industries , inc . primezone media network ( tue , may 17 ) stockguru . com initiates profile coverage of global diversified industries , inc . primezone media network ( mon , may 16 ) global diversified industries ' modular division billings total $ 1 . 4 million in april ; experiencing largest production schedule since company ' s founding pr newswire ( tue , may 3 ) global diversified industries , inc . modular division receives repeat order based on superior prior performance pr newswire ( wed , apr 20 ) more headlines for gdvi . ob . . . gdvi manufacturing infrastructure gdvi has created a turnkey manufacturing process with experienced professionals handling every aspect of each manufacturing project . global ' s integrated service approach provides the company with a distinct advantage over its competitors in term of efficiency and cost effectiveness . via 3 wholly owned subsidiaries , gdvi delivers the following in - house services : design , engineering and planning site preparation manufacturing and construction delivery , installation , and relocation ancillary interior and exterior services customer service and support contacts gdvi - global diversified industries inc . 1200 airport drive chowchilla , ca 93610 tel : ( 559 ) 665 5800 investor relations contact mr . paul knopick tel : ( 949 ) 707 - 5365 pknopick @ . com stock quotes http : / / finance . yahoo . com / q ? s = gdvi . ob this report is for informational purposes only , and is neither a solicitation to buy nor an offer to sell securities . investment in low - priced small and micro - cap stocks are considered extremely speculative and may result in the loss of some or all of any investment made in these companies . expedite is not a registered investment advisor or a broker - dealer . information , opinions and analysis contained herein are based on sources believed to be reliable , but no representation , expressed or implied , is made as to its accuracy , completeness or correctness . the opinions contained herein reflect our current judgment and are subject to change without notice . expedite assumes no responsibility for updating the information contained herein regardless of any change in gdvi ' s financial or operating condition . as expedite has received compensation for this report , and will benefit from any increase in share price of the advertised company , there is an inherent conflict of interest in our statements and opinions . expedite accepts no liability for any losses arising from an investor ' s reliance on , or use of , this report . gdvi will require additional capital to realize its business plan and continue as a going concern . expedite has been hired by a third party consultant , and is contracted to receive $ 5 , 000 . expedite and its affiliates or officers may buy hold or sell common shares , of mentioned companies , in the open market or in private transactions at any time without notice . certain information included herein is forward - looking within the context of the private securities litigation reform act of 1995 , including , but not limited to , statements concerning manufacturing , marketing , growth , and expansion . the words " may , " " would , " " will , " " expect , " " estimate , " " anticipate , " " believe , " " intend , " and similar expressions and variations thereof are intended to identify forward - looking statements . such forward - looking information involves important risks and uncertainties that could affect actual results and cause them to differ materially from expectations expressed herein . global diversified industries , inc . 1200 airport dr . chowchilla , ca 93610 this e - mail message is an advertisement and / or solicitation .

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Subject: 2 - survey / information email 5 - 7 - 01 current notes user : to ensure that you experience a successful migration from notes to outlook , it is necessary to gather individual user information prior to your date of migration . please take a few minutes to completely fill out the following survey . when you finish , simply click on the ' reply ' button then hit ' send ' your survey will automatically be sent to the outlook 2000 migration mailbox . thank you . outlook 2000 migration team full name : login id : extension : office location : what type of computer do you have ? ( desktop , laptop , both ) do you have a pda ? if yes , what type do you have : ( none , ipaq , palm pilot , jornada ) do you have permission to access anyone ' s email / calendar ? if yes , who ? does anyone have permission to access your email / calendar ? if yes , who ? are you responsible for updating anyone else ' s address book ? if yes , who ? is anyone else responsible for updating your address book ? if yes , who ? do you have access to a shared calendar ? if yes , which shared calendar ? do you have any distribution groups that messaging maintains for you ( for mass mailings ) ? if yes , please list here : please list all notes databases applications that you currently use : in our efforts to plan the exact date / time of your migration , we also will need to know : what are your normal work hours ? from : to : will you be out of the office in the near future for vacation , leave , etc ? if so , when ? from ( mm / dd / yy ) : to ( mm / dd / yy ) :

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Subject: re : fwd : australian energy 2000 dear vince , i am truly grateful . that would be excellent . many thanks , joel - - - - - original message - - - - - from : vince j kaminski to : eprmconf @ asiarisk . com . hk cc : vince j kaminski ; vkaminski @ aol . com date : 02 march 2000 14 : 56 subject : re : fwd : australian energy 2000 > > > joel , > > i shall be glad to take all the remaining sections . > > i have spoken on this subject several times so it will > relatively easy to prepare it . > > vince > > > > > > vkaminski @ aol . com on 02 / 29 / 2000 09 : 27 : 19 pm > > to : vkamins @ enron . com > cc : > subject : fwd : australian energy 2000 > > > > > return - path : > received : from rly - ydol . mx . aol . com ( rly - ydol . mail . aol . com [ 172 . 18 . 150 . 1 ] ) by > air - ydo 3 . mail . aol . com ( v 69 . 17 ) with esmtp ; tue , 29 feb 2000 : 30 : 22 - 0500 > received : from srol . imsbiz . com ( srol . imsbiz . com [ 206 . 161 . 62 . 5 ] ) by > rly - ydol . mx . aol . com ( v 69 . 17 ) with esmtp ; tue , 29 feb 2000 9 : 51 - 0500 > received : from joel ( [ 210 . 176 . 232 . 92 ] ) by srol . imsbiz . com ( 8 . 8 . 8 / 8 . 8 . 8 ) with > smtp id kaao 0361 for ; wed , 1 mar 2000 10 : 29 : 44 + 0800 > message - id : > x - sender : eprmconf @ pop . asiarisk . com . hk > x - mailer : qualcomm windows eudora light version 3 . 0 . 5 ( 32 ) > date : wed , 01 mar 2000 10 : 32 : 41 + 0800 > to : vkaminski @ aol . com > from : joel hanley > subject : re : australian energy 2000 > in - reply - to : > mime - version : 1 . 0 > content - type : multipart / mixed ; > > dear vince , > i am delighted to be working with you at last . i can confirm the lessons > learned session , and i shall leave it up to you to consider the content . > the session will last one hour , including q the second topic > will > > be " value - at - risk " ( please , feel free to make this title more specific ) . > > > > i look forward to meeting you in australia in july . > > > > vince > > > > > > > > > ps . as of friday 3 rd march , i shall be back in my london office where my > email address is hanley @ risk . co . uk and my number is + 44 207 484 9885 . > > ( see attached file : varseml . doc ) > > >

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Subject: update on project x gentlemen , john norden will be in sydney on monday morning to evaluate the it process . he will coordinate with stinson . spoke to vince k today and asked if he would send stinson gibner to sidney to be available on monday to review the x system . paul , make sure our x friends are available and the confidentially agreement is signed . further , i spoke to phillip b . about a technical going too . g ' day mates , gary

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Subject: grab this quick triple at its low homeland security investments the terror attacks on the united states on september 11 , 2 ool have changed the security landscape for the foreseeabie future . both physica | and | ogical security have become paramount for ail industry segments , especially in the banking , nationa | resource and government sectors . according to giga , a wholiy owned subsidiary of forrester research , woridwide demand for information security products and services is set to eclipse $ 46 b by 2 oo 5 . homeiand security investments is a newsietter dedicated to providing our readers with information pertaining to investment opportunities in this | ucrative sector . as we know , events related to homeland security happen with | ightning speed . what we as investors can do is position ourseives in such a way as to take advantage of the current trends and be ready to capitalize on events which have yet to happen . homeland security investments is here to help our readers do just that . with this in mind , it is with great excitement that we present vinoble , inc . this stock is expected to do big things in both the near and | ong terms . symbo | : vnbl . ob current price : 0 . o 8 short term target price : o . 35 12 month target price : 1 . 2 o * * * why we believe vnbl . ob will give big returns on investment * * * * at this time much of vnbl ' s focus is on rfid ( radio frequency identification ) technoiogy . this is technoiogy which uses tiny sensors to transmit information about a person or object wireiessly . * vnbl is already an industry pioneer in the rfid personal location technology . * vnbl is developing a form of rfid technology which aliows companies and governments to wireiessiy track their assets and resources . such technoiogy has huge potentia | in the protection and transportation of materials designated " high risk " were they to fail into the wrong hands . * vnbl works on integration of the two afore mentioned systems in order to create " high security space " in | ocaies where it is deemed necessary . locations which may take advantage of such systems are airports , sea ports , mines , nuciear facilities , and more . * as with all stocks , news drives the short term price . fresh news has made vnbl a hot buy . news on vnbl malibu , calif . - - ( business wire ) - - june 16 , 20 o 5 - - vinoble , inc . ( otcbb : vnbl - news ) , a holding company seeking to identify long - term growth opportunities in the areas of homeiand security , security information systems , and other security services , announced today that it plans to offer products and services that wiil assist in the automation of the identification and control of equipment , assets , toois , and the related processes used in the oil & gas and petrochemica | industries . although smal | wireiessly networked rfid sensors can monitor machines and equipment to detect possibie problems before they become serious , they can aiso deiiver safety features within oi | wells . oi | maybe trapped in different | ayers of rock , along with gas and water . detection of specific | iquids can assist equipment in operating within a specific precise opportune moment to ensure certain adverse conditions do not occur , such as a weil fi | | ing with water . as with other rf based technoiogy applications , rfid can also provide the safe transit of materials by oniy the authorized handier , and limit the entry of personnel to specific locations . ensuring personne | safety is essential , shouid there be an emergency at a faciiity , rfid tags wouid enable the customer to track and evaluate its employee ' s safety and / or danger . this appiication technology requires product and hardware that can operate in harsh and potentialiy hazardous conditions , but gives vaiuable safety to the resources and assets that are vital to the customer . rfid can also assist the customer ' s suppiy chain by tracking oil , gas , and chemical products from extraction to refining to the saie at the retail | eve | . vinoble ' s viewpoint as previously stated is that these applications are more than just a valuable tool to the mining industry , but as a protective measure of our country ' s natural resources and commodities against threat . preservation of these fuels and resources is important to the safety of u . s . industry and economy . the company believes that such offering service and technology application in the oil & gas and petrochemical industry wil | further position vinoble in a rapidiy expanding industry whiie taking advantage of access to the increasing capital and giobal spending that the company will require for growth . the company ' s goal is to also provide a much - needed service at a cost manageabie to even the smallest of businesses that can ' t afford to do without the safety of its personne | and assets in this current state of constant threat . this is outstanding news . the growth potentia | for this company is exceptiona | . in an aiready hot industry , vnbl . ob stands out as a truly innovative pioneer . we see big things happening to this stock . information within this email contains " forward looking statements " within the meaning of section 27 a of the securities act of 1933 and section 21 b of the securities exchange act of 1934 . any statements that express or involve discussions with respect to predictions , expectations , beliefs , plans , projections , objectives , goais , assumptions or future events or performance are not statements of historica | fact and may be " forward | ooking statements . " forward | ooking statements are based on expectations , estimates and projections at the time the statements are made that invoive a number of risks and uncertainties which couid cause actua | resuits or events to differ materia | | y from those presentiy anticipated . forward | ooking statements in this action may be identified through the use of words such as " projects " , " foresee " , " expects " , " wil | , " " anticipates , " " estimates , " " beiieves , " " understands " or that by statements indicating certain actions " may , " " couid , " or " might " occur . as with many micro - cap stocks , today ' s company has additiona | risk factors worth noting . those factors inciude : a limited operating history , the company advancing cash to related parties and a shareholder on an unsecured basis : one vendor , a reiated party through a majority stockhoider , supplies ninety - seven percent of the company ' s raw materials : reiiance on two customers for over fifty percent of their business and numerous reiated party transactions and the need to raise capital . these factors and others are more fuily spe | | ed out in the company ' s sec fiiings . we urge you to read the filings before you invest . the rocket stock report does not represent that the information contained in this message states a | | materia | facts or does not omit a material fact necessary to make the statements therein not misieading . all information provided within this email pertaining to investing , stocks , securities must be understood as information provided and not investment advice . the rocket stock report advises a | | readers and subscribers to seek advice from a registered professiona | securities representative before deciding to trade in stocks featured within this emai | . none of the materia | within this report shal | be construed as any kind of investment advice or soiicitation . many of these companies are on the verge of bankruptcy . you can lose ail your money by investing in this stock . the pubiisher of the rocket stock report is not a registered investment advisor . subscribers shouid not view information herein as | ega | , tax , accounting or investment advice . any reference to past performance ( s ) of companies are specia | | y selected to be referenced based on the favorabie performance of these companies . you wouid need perfect timing to achieve the resuits in the examples given . there can be no assurance of that happening . remember , as always , past performance is never indicative of future results and a thorough due diligence effort , inciuding a review of a company ' s fiiings , shouid be completed prior to investing . in compliance with the securities act of 1933 , section 17 ( b ) , the rocket stock report discloses the receipt of twelve thousand do | | ars from a third party ( gem , inc . ) , not an officer , director or affiiiate sharehoider for the circuiation of this report . gem , inc . has a position in the stock they wil | se | | at any time without notice . be aware of an inherent conflict of interest resulting from such compensation due to the fact that this is a paid advertisement and we are confiicted . ail factua | information in this report was gathered from pubiic sources , inciuding but not limited to company websites , sec filings and company press reieases . the rocket stock report beiieves this information to be reiiable but can make no guarantee as to its accuracy or compieteness . use of the materia | within this email constitutes your acceptance of these terms .

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Subject: re : support for exotica steve , i am calling anjam to give him a deadline regarding move to houston . if he decides to stay in houston , you should meet with him to convey the concerns regarding his performance . vince steven leppard 10 / 13 / 2000 03 : 50 am to : vince j kaminski / hou / ect @ ect , stinson gibner / hou / ect @ ect , dale surbey / lon / ect @ ect , tani nath / lon / ect @ ect cc : paulo issler / hou / ect @ ect , sharad agnihotri / lon / ect @ ect , zimin lu / hou / ect @ ect subject : support for exotica all sharad ' s investigations of exotica ' s status in london have turned up a very confused state of affairs . this isn ' t being helped by the fact that : 1 . anjam is rarely at his desk , and can ' t be found anywhere in the building . 2 . when he is around he isn ' t willing or able to provide all the information sharad might need to support exotica . this is worrying since much of our business depends on the validity of exotica ' s valuations . sharad will now request information from anjam via email to leave a trail , and i want to alert you to the fact that sharad will be cc ' ing you in on these emails . if things don ' t improve soon , i may need to request some assistance in extracting this information from anjam . many thanks , steve

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Subject: agenda for transmission roundtable on wednesday , january 24 , 2001 sorry everyone , i guess i am having my monday morning today . here are the attachments . - - - - - - - - - - - - - - - - - - - - - - forwarded by anita dupont / na / enron on 01 / 23 / 2001 09 : 52 am - - - - - - - - - - - - - - - - - - - - - - - - - - - anita dupont 01 / 23 / 2001 09 : 56 am to : robin . kittel @ enron . com , bill . rust @ enron . com , steve . walton @ enron . com , ron . tapscott @ enron . com , jeffrey . wilson . enron . communications @ enron . com , sevil . yaman @ enron . com , vasant . shanbhogue @ enron . com , tom . dutta @ enron . com , walter . coffer @ enron . com , vkamins @ enron . com , lloyd . will @ enron . com , martin . lin @ enron . com , christi . l . nicolay @ enron . com , george . hopley @ enron . com , fred . mitro @ enron . com , debbie . chance @ enron . com , patrick . hansen @ enron . com , steve . olinde @ enron . com , madhup . kumar @ enron . com , robert . kraszewski @ corp . enron . com cc : lance . cunningham @ enron . com , shirley crenshaw / hou / ect @ ect subject : agenda for transmission roundtable on wednesday , january 24 , 2001 please review the attached agenda for tomorrow ' s transmission roundtable and let me know if you have any additions or changes . also , please bring to the meeting a hard copy of the attached december 8 meeting notes . thanks . regards , anita

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Subject: auctions with an incumbent ' s right of first refusal shelley , my colleague , clayton vernon , who has a background in economics , wrote a short summary of arguments against the rofr . we are working on the second approach to the problem : we try to come up with a numerical estimate of the value of this option . the fact that an incumbent shipper has this option has distributional consequences : he has something of value he never paid for . having a numerical estimate of the value of this option could help to argue against it . the value of such an option is case specific ; so we shall rather produce a template you can use for valuation case by case . vince kaminski - - - - - - - - - - - - - - - - - - - - - - forwarded by vince j kaminski / hou / ect on 01 / 20 / 2000 08 : 34 am - - - - - - - - - - - - - - - - - - - - - - - - - - - clayton vernon @ enron 01 / 20 / 2000 08 : 29 am to : vince j kaminski / hou / ect @ ect cc : stinson gibner / hou / ect @ ect , zlu / hou / ect @ ect subject : auctions with an incumbent ' s right of first refusal vince - here is an essay on the issue you are discussing : the adverse economic impact of " rights of first refusal " an option to " first refuse " to match a competitor ' s offer is a restraint of free trade and an impediment to efficiency in the marketplace . this economic conclusion is unambiguous . if an " incumbent " has the right to match an offer made by a competitor , for an item or service of value , then few competitors will invest the time and expense necessary to prepare and submit offers , those offers will be lower than they would have been otherwise , and the contract will often be awarded to an inefficient incumbent instead of a more efficient challenger . in a traditional auction , where all bids are sealed and the item up for auction is awarded to the highest bidder , we can safely predict the item will be awarded to the bidder who values it the most , at a price reflecting the full value of the item up for auction . this is the efficient result in a market economy , because the financing of the high bid reflects resources freely allocated to the high bidder . if the auction has open bids , we can again safely predict the item to be awarded to the correct bidder , albeit at a slightly lower price to the donor of the item since the bidder with the highest valuation can simply increment by an infinitesimal amount the second - highest valuation . now , in a modified auction , where an incumbent bidder has the right to match the highest bid and retain the item for himself , each competing bidder must justify his own due diligence and bid preparation expenses against the following , and likely , scenario : the incumbent does not spend himself for due diligence , but instead uses these savings to help finance his matching the top bid from a competitor . simply put , the incumbent with a " right of first refusal " can be safely predicted to simply match their competitor ' s bid by " rule of thumb . " but the incumbent ' s valuation of the item up for auction can be less than the valuation of the competitor , by the amount of the due diligence and administrative expenses . and , the incumbent firm expropriates the expertise of his competitors , not only in their valuations themselves , a nontrivial financial exercise , but in any operational details required to be submitted along with the bid . furthermore , in an esoteric concept known as the " winner ' s curse , " a bidder realizes that if his bid actually prevails , if the incumbent fails to match it , he almost certainly overbid . given this , most competitors will not even bother to bid in an auction when an incumbent has the right of first refusal , and those that submit a bid do not rationally invest the time , expense and expertise necessary ; they may just " fire off " a " low - ball " bid . after all , in almost every conceivable " state of the world " arising from the auction the competitors expect to lose money . so , the incumbent almost always retains the contract at a below - market price , despite the incumbent not necessarily placing the highest value on the contract because the incumbent cannot put the contract to its most efficient use .

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Subject: re : i ' ll be gone for a month sofya : sounds like fun - be careful and have a great time . we will see you when you return on the 31 st . shirley sofya tamarchenko @ enron 06 / 27 / 2000 11 : 23 am to : shirley crenshaw / hou / ect @ ect , grant masson / hou / ect @ ect , maureen raymond / hou / ect @ ect cc : subject : i ' ll be gone for a month good morning : i am leaving houston this weekend to go to camp , so friday june 30 will be my last day . i will be at camp for a month , but i can be back at work on monday july 31 .

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Subject: eol guest account access attention : esai ed krapels thank you for your interest in enrononline . the following is a guest password that will allow you temporary view only access to enrononline . please note , the user id and password are case sensitive . guest user id : ena 61296 guest password : welcome ! in order to apply for transaction status with enrononline , your company needs to complete a password application and registration form for a master user account . each master user will be able to grant various levels of access for additional users . to obtain a password application and registration form , you can visit our website at www . enrononline . com and select the
& how to register
8 link , or call our helpdesk at 713 / 853 - help ( 4357 ) . alternatively , you may click on the attached documents , complete the forms , and fax to 713 - 646 - 8511 . just a reminder , in order to access enrononline , shockwave needs to be installed . the shockwave installer can be found within " about enrononline " on the home page . after opening " about enrononline " , using right scroll bar , go to the bottom . click on " download shockwave " and follow the directions . after loading shockwave , shut down and reopen browser ( i . e . microsoft internet explorer / netscape ) . we hope you will find that enrononline provides an easy and more efficient way to do business with enron . we look forward to transacting with you online . sincerely , danny lee enrononline helpdesk 713 / 853 - help ( 4357 )

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Subject: urgent reply needed from : mr . usman bello . attention sir in appreciation of your esteemed contact received through a reliable source , first of all , i wish to introduce myself to you , i am mr usman bello . the only surviving son of the late dr . mustapha bello who was one of the aid to the former leader of my country iraq before he was killed in a war in my country . i know that this mail will come to you as a surprise but honestly i do not intend to surprise you . i write this letter in respect of my intention to invest the sum of us $ 10 , 000 , 000 . 00 in your company which i inherited from my father proceeds before his death . my mother is from haiti while my father is from iraq before they got married as husband and wife . i am now left with my only surviving mother who unfortunately has been critically ill since late last year because of the shock the death of my late father caused her . when my father with the rest members of my family was killed on 16 th january 2003 during the war , i and my mother escaped to iran with the help of united nations officials from there we came to thailand through the united nation peace keeping pilot . the fund is now with the financial firm . in view of this plight , i expect you to be trust worthy and kind enough to assist me , i hereby agree to compensate your sincere and candid effort in this regard with 20 % of the total fund and 10 % for expenses , which may arise during the transaction . whatever your decision is , please contact me immediately through the above email . i also appeal to you to keep this matter secret for the interest of my family . best regards . usman bello .

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Subject: re : efa meetings hey vince , thanks for your reply . i ' ll see what becomes of the session and keep you informed . as to the paper , tim crack and i have a revised version of the paper i gave you . we have since found out that by using certainty equivalence , our model is more robust . for example , if one has an asset pricing model that incorporates mean , variance , and skewness ( harvey and siddique , jf june , 2000 ) and a binomial model that incorporates mean , variance , and skewness ( johnson , paulukiewicz , and mehta , rqfa , 1997 ) , our model allows you to price options under the real world measure . the benefit is that one can take all of the model parameters from historical data that is non - risk neutralized . from a pricing perspective , there isn ' t a tremendous benefit in a mean - variance world ( variance stays the same in risk neutral or risky measure ) . however , in the mean - variance - skewness world , there is a benefit because we do not believe ( although we ' re still hunting down an appropriate cite ) skewness is the same under risk - neutral and risky measure . given we can only measure the skewness in our risky world , our model becomes much more significant . i would certainly appreciate comments on the version of the paper you have and would also pass on the new version of the paper if you would like to see it . thanks again , tom

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Subject: localized software , all languages available . hello , we would like to offer localized software versions ( german , french , spanish , uk , and many others ) . ail listed software is availabie for immediate downioad ! no need to wait 2 - 3 week for cd delivery ! just few examples : - norton lnternet security pro 2005 - $ 29 . 95 - windows xp professional with sp 2 fuli version - $ 59 . 95 - corei draw graphics suite 12 - $ 49 . 95 - dreamweaver mx 2004 ( homesite 5 . 5 includinq ) - $ 39 . 95 - macromedia studio mx 2004 - $ 119 . 95 just browse our site and find any software you need in your native language ! best reqards , lyndsey

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Subject: re : background information tom , electronic version is ok . vince " piazze , thomas " on 11 / 07 / 2000 10 : 25 : 45 am to : " ' vince . j . kaminski @ enron . com ' " cc : subject : re : background information vince : i will be happy to do so . do you wish to have it in hard copy or electronically ? if in hard copy , how many copies ? tom - - - - - original message - - - - - from : vince . j . kaminski @ enron . com sent : monday , november 06 , 2000 6 : 00 pm to : piazzet @ wharton . upenn . edu cc : vince . j . kaminski @ enron . com subject : background information tom , can you send me additional copies of the information about the webi program ? i want to distribute it internally . vince

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Subject: mec advisory board meeting we are still in discussions with mec about a transaction , but it seems to be moving in the right direction . they have asked to set up an advisory meeting in december to meet the senior team members . mr . plotnick indicated that he expects to have his cto in place by then . i am trying to arrange our first meeting the week of december 5 or december 12 . please send me a short list of times you have available for a two hour meeting . once again , i would like to thank each of you for your help with this project . regards , mark mark lay enron investment partners 333 clay st . , suite 3800 houston , tx 77002 p 713 - 853 - 7408 f 713 - 345 - 7670

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Subject: request submitted : access request for praveen . mellacheruvu @ enron . com you have received this email because you are listed as an alternate data approver . please click approval to review and act upon this request . request id : 000000000012987 approver : stinson . gibner @ enron . com request create date : 1 / 9 / 01 3 : 03 : 48 pm requested for : praveen . mellacheruvu @ enron . com resource name : \ \ enehou \ houston \ common \ research - [ read / write ] resource type : directory

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Subject: cme and catex - - - - - - - - - - - - - - - - - - - - - - forwarded by joseph hrgovcic / hou / ect on 04 / 05 / 2000 04 : 06 pm - - - - - - - - - - - - - - - - - - - - - - - - - - - lucy ortiz 04 / 05 / 2000 04 : 02 pm to : joseph hrgovcic / hou / ect @ ect cc : subject : cme and catex spotlight report exchange products seeing slow trading gavin souter 03 / 20 / 2000 business insurance page 3 copyright ( c ) 2000 crain communications , inc . all rights reserved . exchange - based insurance products developed in recent years have been somewhat slow to get off the ground . although several exchanges have offered derivative contracts since the mid - 1990 s to cover insurance risks , none so far has posted a significant volume of trades . few insurers , reinsurers or policyholders have been drawn away from the traditional insurance markets , where capacity remains abundant and relatively cheap . as long as those traditional markets manage to weather major natural catastrophes , the allure of the exchange - based products will remain limited , observers say . also stifling the growth of the exchange - based contracts is the limited number of contracts available , one expert noted . dealers , he said , are unable to secure a suitable hedge by laying off one contract against another . although the various exchanges have had a good opportunity to establish a widely used set of new risk financing products , that has not been achieved , said morton lane , senior managing director , capital markets division at gerling global financial products in new york . the main problem with the existing exchanges is that they do not offer a sufficiently diverse array of products , he said . the only way to control the risks in the catastrophe options is to have a diversified portfolio of other contracts , and none of the exchanges currently offers a sufficiently broad range of options to provide for that hedge , he said . florida windstorm options , for example , cannot be bought and then hedged in the same way that international business machines corp . stock options contracts can be hedged with ibm stock , mr . lane explained . the exchanges might be more attractive to investors if , in addition to natural catastrophe options , they included options on other risks , he said . those might include , for example , satellite , aviation and crop indexes , mr . lane said . " for the insurance buyer , such exchange instruments would not represent the perfect risk transfer vehicle , but as long as they are quantifiable and indexable , they may represent a good surrogate , " he said . the exchanges could also be used to create a derivatives market for over - the - counter securitized deals , if there are regular issuers of catastrophe bonds , mr . lane said . the soft insurance market has also hindered the growth of exchange - based insurance products , said sean f . mooney , senior vp and chief economist at guy carpenter & co . , the reinsurance brokerage unit of marsh inc . in new york . " the traditional market has been so competitive that people are not looking for other ways of doing business , " he said . at least in concept , the exchange - based deals are generally similar to the mortgage - backed securities that have been a huge success since they were introduced in the 1970 s . " there is a belief that alternative means of transferring risks will grow , but it is difficult to predict when , " mr . mooney said . currently , the trading that is taking place typically involves established insurers and reinsurers , so the exchanges have not brought substantial new capacity to the marketplace , he said . guy carpenter provided the index for the bermuda commodities exchange reinsurance products . the bce did not take off , however , and was suspended last year after two years of little activity . the oldest of the insurance - related , exchange - based derivative products are the catastrophe options traded on the chicago board of trade , which began trading the options in 1996 . initially , there was substantial interest in the options , but the soft traditional market has hampered use of the contracts to hedge catastrophe exposures , said carlton purty , an independent broker at the cbot who trades in options . no catastrophe option trades have been completed at the cbot so far this year , he said . last year , there was increased interest in the contracts because of hurricane floyd , but few contracts were traded , mr . purty said . " i think a major , major catastrophe will have to happen before they really take off , " he said . the contracts offer real protection , and options dealers are keen to trade in a new niche , but the conventional insurance and reinsurance markets are so soft that few companies are turning to alternative coverage options , mr . purty said . the catastrophe risk exchange , located in princeton , n . j . , has radically changed its structure since it was originally announced in mid - 1996 , and it is well positioned to expand , said frank sweeney , chief operating officer . catex initially planned to be a computer - based facility for reinsurers that would enable them to exchange catastrophe risks and to build balanced portfolios . but by the time the exchange was operational in november 1996 , it was clear that most reinsurers and insurers interested in catex wanted only to buy and sell conventional reinsurance , mr . sweeney said . although there was some interest in risk swapping , only a handful of risks were posted on the system , and none was traded , mr . sweeney said . consequently , catex has become chiefly a " cash for cover " exchange , he said , noting that the risks reinsured on the exchange include property catastrophe coverage , aviation and liability coverages . catex also trades industry loss warranties , where coverage is triggered by an actual loss combined with an industry loss over an agreed threshold . other adjustments to the exchange included making it accessible through the internet in november 1998 . and late last year , catex offered users the ability to set up smaller networks , allowing them form groups whose members do business only with one another . since its inception , catex has completed about 450 trades , totaling $ 400 million in premium and more than $ 3 billion in limits , he said . catex ' s roughly 160 subscribers include reinsurers , insurers and corporate entities that purchase coverage through their captives , mr . sweeney said . " we obviously have a long way to go , but we are pretty satisfied with what we have achieved so far , " mr . sweeney said . the exchange sees increased activity after major losses , as cedents seek to buy replacement coverage to offset depletions in their existing cover , he said . for example , mr . sweeney said , there was a flurry of activity after the european windstorms in december last year . last september , the chicago mercantile exchange entered the field of insurance - related derivatives when it began offering weather derivatives . thus far , 420 futures contracts have been traded , said larry grannan , senior director in product marketing at the cme . such contracts are designed to allow businesses to hedge against weather - related losses . for example , a utility may sell less power in a mild winter , and it would be able to use the futures to hedge a resultant fall in revenues . the exchange first offered heat - based indexes for atlanta , chicago , cincinnati and new york . in january , it added philadelphia , dallas , des moines , las vegas , tucson and portland , and it began offering contracts based on cold weather . currently , most of the trades are between securities dealers themselves , but , eventually , the contracts will likely be used more extensively by utilities and insurers , mr . grannan said . in addition , the futures contracts could be used as hedges for over - the - counter securitized deals , he said . copyright , 2000 dow jones & company , inc . all rights reserved .

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Subject: interview with enron dear mr . kaminski , ? even though i cannot pass " official " interviews , i would like to discuss with enron . i was really impressed by your presentation and i think i would be a good fit for your firm . ? i know that you ? will be soon recruiting on campus , maybe we could set up an " informal meeting " . either give me a call at home ( 412 - 802 - 6429 ) or send me an email at this address . i would appreciate though not to appear on interview lists . ? pierre - philippe ste - marie http : / / pstemarie . homestead . com

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Subject: non - firm power curve building hi vince , amitava and i have received a request to build a non - firm power curve for each region from david hoog ' s double trigger folks . the objective , as they explain it , is to allow the desk to buy non - firm from the market , buy david ' s outage product , and sell firm to the market . accountants would like a curve to mark the non - firm position . my initial thought is that the desk should provide this non - firm curve , but it seems that this market is very illiquid and they are reluctant so they have put the ball in david hoog ' s court to build the curve if david wants to sell his product internally to the desk . assuming we build the curve , the next issue is how to define " non - firm " ? the only way i can think of is to tie the non - firmness to a specific generation unit or group of units . this will allow the purchase of david ' s outage product to cover the non - firmness risk . tying the definition of non - firmness to a whole region seems implausible - - - what does it mean to give a marketer the option to not deliver power if there is any problem anywhere in the region ? consequently , the non - firm curve takes on a unit - level interpretation , and not a region - level interpretation . consequently , i do not see how we can talk about the " non - firm curve for the region " ? we will need to build a non - firm curve for each generation unit or group of units . maybe i could get your thoughts later today . thanks , vasant

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Subject: confirmation of your online order wincenty j kaminski ( vkamins @ enron . com ) this email is to confirm your online order which was received on 24 - aug - 2000 . please note that this does not constitute a receipt . if you have any queries or problems please e - mail directcustserve @ cup . cam . ac . uk ( customer services ) quoting order reference number web 5908 / ds 51002180 . totals : 1 lines , 1 items , weight 0 . 630 kg , value gbp 30 . 00 delivery charge , air : gbp 5 . 00 total cost : gbp 35 . 00 shopping basket theory of financial risks , from statistical physics to risk management , jean - philippe bouchaud ( hardback ) , isbn 0521782325 quantity : 1 reference : kaminski cost : gbp 30 . 00 in stock

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Subject: asset swaps vs cds ' s - - - - - - - - - - - - - - - - - - - - - - forwarded by bryan seyfried / lon / ect on 30 / 03 / 2001 17 : 12 - - - - - - - - - - - - - - - - - - - - - - - - - - - martin mcdermott 23 / 03 / 2001 18 : 47 to : john sherriff / lon / ect @ ect , bryan seyfried / lon / ect @ ect cc : subject : asset swaps vs cds ' s john , i haven ' t had much time to put something together on this issue . fundamentally both instruments represent the same credit risk , i . e . same credit events and contingent payments , both represent senior unsecured credit risk . the differences in pricing therefore arise purely from supply and demand . one would expect generally that the asset swap would be lower than the cds because of liquidity : there are only so many bonds out there , and so demand for asset swaps is limited . i am attaching a one page note by jp morgan where they claim that one of the principal reasons for the cds to be more expensive is people hedging convertible bonds by combining ( 1 ) a call option on the equity and ( 2 ) a cds . if the call is cheap they will be willing to pay more for the cds , driving the price up . i ' ll try to synthesize something more complete next week . cheers martin

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Subject: re : new copier information for 55 , 60 & 65 cpm digital machines iain : we went and looked at the toshiba copier on the 32 nd floor and while it does not appear to be extremely fast , i believe it will work for the 19 th floor . i spoke with vince kaminski and he agreed with our getting this copier . we noticed this copier has a button that says " network connection " and were wondering it this copier could be hooked up to the network and we could run copies from our computer ? please let us know . thanks for all your help and have a wonderful christmas and new year ! shirley co # 0011 rc # 100038 copier information including pictures & weblinks from : iain russell on 12 / 17 / 99 10 : 47 am to : shirley crenshaw / hou / ect @ ect cc : subject : new copier information for 55 , 60 & 65 cpm digital machines shirley , following up on the telephone conversation , please see the attached spreadsheet for pricing information plus important information about " true world " copy speeds . pricing was centered on the 42 . 315 k per month volume band so that you can get a good feel for copier expenditure based on average month volumes . i have left the spreadsheet " unprotected " so that you can play with the volume figures and see how this changes the price overall + how the " cost per image " is affected by volume changes . ? pricing spreadsheet : under " notes " towards under the pictures . the " true world " copy speed information has been supplied by buyers lab incorporated , which is an independent testing house that rates office equipment , including copiers and publishes their findings on a quarterly basis . unfortunately they have not released their findings on the canon ir 550 as testing is not yet complete . ? copier speeds : @ the end of the notes - mail { these include 1 - 1 , 1 - 2 and duplexing + detail on completion of " sets " } as you will see , duplexing speeds are widely different across the various manufacturers equipment & the " true world " copy speeds are a soft $ expense which impacts the true cost of running a copier . listed below are the url ' s for the different 55 , 60 & 65 cpm b / w copiers . a ) overview b ) specifications from lanier ricoh equipment 55 copies per minute a ) & b ) weblink for machine specifications - - > click here - - - > 65 copies per minute a ) & b ) weblink for machine specifications - - > click here - - - > from danka canon equipment { ir 550 } 55 copies per minute looks like : - - - > weblink for machine specifications - - > click below : a ) http : / / www . usa . canon . com / corpoffice / netofficesys / ir 550 / ir 550 fea . html b ) http : / / www . usa . canon . com / corpoffice / netofficesys / ir 550 / ir 550 spec . html canon equipment { ir 600 } > > currently on 45 day backorder weblink for machine specifications - - > click below : a ) http : / / www . usa . canon . com / corpoffice / netofficesys / ir 600 / ir 600 fea . html b ) http : / / www . usa . canon . com / corpoffice / netofficesys / ir 600 / ir 600 spec . html toshiba equipment 55 copies per minute weblink for machine specifications - - > click below : a ) http : / / www . toshiba . com / taiseid / copiers / 5570 / features . htm b ) http : / / www . toshiba . com / taiseid / copiers / 5570 / spec . htm 65 copies per minute weblink for machine specifications - - > click here - - > a ) http : / / www . toshiba . com / taiseid / copiers / 6570 / features . htm b ) http : / / www . toshiba . com / taiseid / copiers / 6570 / spec . htm notes here is the pricing spreadsheet for your records : - - > the highlighted rows on the spreadsheet reflect you current average monthly volume . fyi - - > target cpi or cost per image is in the region $ 0 . 017 up to and including $ 0 . 023 . copier model monthly volume capacities model manufacturer max rec / level realistic level { up to } toshiba 5570 340 k 115 k toshiba 6570 400 k 135 k lanier 5255 { per rep . } 200 k 100 k lanier 5265 { per rep . } 200 k 100 k canon ir 550 200 k 100 k canon ir 600 250 k 100 k fyi : we currently have a toshiba 6570 @ eb 32 kl that is averaging 69 , 332 images per month with the top month producing 86 , 673 images and a toshiba 5570 @ eb 3080 area that is averaging 39 , 309 per month . both of these machines are in the enron north america trading environment . the copiers quoted are all " digital " . digital : scan once print many = 99 copies of one sheet ? 1 scan ! analog : scan for every image made = 99 copies of 1 sheet ? 99 scans = possible noise issue . copier speeds = total print time this comparison gives the speed @ which the document set is printed { no staple , no 3 - hole punch } > > > > > 60 & 65 copy per minute machines > > > > 55 copy per minute machines < < < < < please call me with any questions . thanks , iain russell @ 713 - 853 - 6861 contracts supervisor administration enron property & services corp . privileged / confidential information may be contained in this message . if you are not the addressee indicated in this message ( or responsible for delivery of the message to such person ) , you may not copy or deliver this message to anyone . in such case , you should destroy this message , and notify us immediately . if you or your employer does not consent to internet email messages of this kind , please advise us immediately . opinions , conclusions and other information expressed in this message are not given or endorsed by my department or employer unless otherwise indicated by an authorized representative independent of this message .

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Subject: re : get together this coming tuesday ? dale , i can reserve 2 to 2 : 30 time slot but there is really not much that i can tell you at this point . the commercial groups are still interested and are moving towards the test of the package . as soon as they will decide to move ahead , we ( research ) shall be involved , helping to evaluate the product . as i have said , we are not the decision makers in this case . i think that we should allow simply the process to run its course . vince " dale m . nesbitt " on 04 / 30 / 2001 05 : 59 : 30 pm please respond to to : cc : subject : re : get together this coming tuesday ? vince : i will call tomorrow in the morning . lunch or right after lunch would be great . how would 100 pm work for you ? dale - - - - - original message - - - - - from : vince . j . kaminski @ enron . com [ mailto : vince . j . kaminski @ enron . com ] sent : monday , april 30 , 2001 3 : 07 pm to : dale . nesbitt @ marketpointinc . com cc : kimberly . watson @ enron . com ; vince . j . kaminski @ enron . com subject : re : get together this coming tuesday ? dale , please , call me on tuesday . my morning schedule is full but i am open in the afternoon . vince " dale m . nesbitt " on 04 / 30 / 2001 01 : 51 : 21 am please respond to to : " vincent kaminski " , " kimberly s . watson " cc : subject : get together this coming tuesday ? vince / kim : i am flying to houston tonight and wondered if it would fit one or both of your schedules to get together this coming tuesday sometime for 1 / 2 hour or so . i really want to reinitiate the conversations marketpoint was having with john goodpasture and you , and he said either or both of you were the right people to continue after his responsibility shift . john was quite positive about the idea of enron acquiring marketpoint narg through license , and he implied that one or both of you would be carrying the ball in that direction after he handed it to you . would this coming tuesday morning at 930 am be a good time for you guys ? if so , please give me an email shout at the above address or leave a message on my voicemail at ( 650 ) 218 - 3069 . i think you will be truly impressed with the scope and progress we have been able to make with both the short run narg and the long run narg in which you were interested ( not to mention our power model ) . the progress is noticeable since you saw it . both long and short term narg are having quite an impact on a number of gas decisions at the moment ranging from venezuelan lng , north american lng import terminals and term , gas basis calculations , trading support , power plant development , gas - to - power price spreads in key markets , veracity of heat rate trades , bank financings , storage field evaluation , and which new pipelines we can expect to see enter and which are dogs . i really hope we can fit it in and get our discussions moving in a mutually productive direction again . i think narg can help you become even more successful , and i look forward to working with you . we have a new office address and new phone number as well . ( we move in may 1 . ) altos management partners 95 main street , suite 10 los altos , ca 94022 ( 650 ) 948 - 8830 voice ( 650 ) 948 - 8850 fax ( 650 ) 218 - 3069 cellular give the phones a week or so to get " debugged " and then switch over . dale

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Subject: wharton tiger team according to the information that christie patrick emailed me the following people are assigned to wharton ' s tiger teams 1 and 3 . these candidates per vince kaminski ' s request should receive offers for summer associate positions located in his research group . tiger team # 1 1 . vincent chen 2 . mallik deepa 3 . jack rejtman 4 . kim whitsel 5 . tulika bhalia 6 . nicholas levitt - i am uncertain based on the emailed information from christie if this is a student or a ta ? can either vince or christie verify this information please . tiger team # 3 1 . clay degiacinto 2 . steve lessar 3 . vittal maheshram 4 . omar bassel 5 . dennis feerick 6 . marc " jason " cummins the following candidates interviewed with the regular on campus wharton team on 2 / 5 / 01 and were not passed onto the second round interviews . with that information i am not sure if we will offer those candidates positions for the summer program ? 1 . kim whitsel - team # 1 2 . clay degiacinto - team # 3 3 . gustavo pallazzi - team # 2 4 . edson otani - team # 2 i also have that heather thorne is the teaching assistant and donna piazze is the professor for the project . can you also verify that information ? vince if you would please verify and give me the okay via email then i will contact these candidates by phone to inform them they will be receiving an offer from enron . but before i do anything i want to make sure this information is correct and i am not excluding or adding any members that should receive an offer . thank you , kristin gandy

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Subject: re : emission trading vince , i spoke with susan wood , who heads up our emissions marketing effort who says we don ' t really have any materials we send out . she did recommend the emissions trading handbook which can be purchased for $ 50 from in general , the site http : / / www . etei . org / is a great source of info , and the the parent site , http : / / www . emissions . org should be checked out as well . if you ' d like me to purchase the handbook ( it will take three weeks ) let me know . joe vince j kaminski 12 / 16 / 99 08 : 15 am to : joseph hrgovcic / hou / ect @ ect cc : vince j kaminski / hou / ect @ ect subject : re : emission trading joe , do we have any materials about it ? vince - - - - - - - - - - - - - - - - - - - - - - forwarded by vince j kaminski / hou / ect on 12 / 16 / 99 08 : 14 am - - - - - - - - - - - - - - - - - - - - - - - - - - - adam brulinski 12 / 14 / 99 08 : 22 am to : vince j kaminski / hou / ect @ ect cc : subject : re : emission trading thank you in advance . let me just mention that the issue is quite urgent so i would appreciate if i could get sth asap . adam vince j kaminski 99 - 12 - 14 15 : 24 to : adam brulinski / war / ect @ ect cc : subject : re : emission trading adam , let me gather some information for you . vince adam brulinski 12 / 14 / 99 08 : 08 am to : vince j kaminski / hou / ect @ ect cc : subject : emission trading szanowny panie , chcielibysmy zaczac propagowac w polsce idee handlu prawami do emisji zanieczyszczen . dlatego tez prosilbym o przeslanie , najlepiej droga emailowa materialow dotyczacych tej koncepji - glownie chodzi mi o strone " merytoryczna " . z powazaniem , adam brulinski

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Subject: change of coordinates dear friends and colleagues , effective immediately , i have returned to the university of pennsylvania . the usual automatically - generated contact info should appear below ; please update your files . best regards , frank - - francis x . diebold department of economics university of pennsylvania 3718 locust walk philadelphia , pa 19104 - 6297 fdiebold @ mail . sas . upenn . edu http : / / www . ssc . upenn . edu / ~ diebold ( 215 ) 898 - 1507 telephone ( 215 ) 573 - 4217 fax

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Subject: fpa notice : ebay misrepresentation of identity - user suspension - section 9 - dear ebay member , in an effort to protect your ebay account security , we have suspended your account until such time that it can be safely restored to you . we have taken this action because your account may have been compromised . although we cannot disclose our investigative procedures that led to this conclusion , please know that we took this action in order to maintain the safety of your account . for instructions on getting your account reinstated , please click the button bellow : thank you for your patience and cooperation . regards , safeharbor departmentebay inc .

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Subject: re : video conference with ross mcintyre nick , we may have problems getting the vc location in houston on short notice . we are currently on stand - by . we shall default , if we have no other choice , to a phone interview . vince enron capital & trade resources corp . - europe from : nick mooney 04 / 18 / 2000 09 : 09 am to : vince j kaminski / hou / ect @ ect cc : mark tawney / hou / ect @ ect subject : video conference with ross mcintyre vince , you should have received an invitation through lotus notes which outlines the vc location for the conference call tomorrow . it is schedule for 4 : 30 pm uk time ( 10 : 30 am houston time ) ross ' s background is from investment banking ex dresner bank , he has a phd in mathematical and is currently with speedwell weather derivatives where he has been developing weather derivative pricing and portfolio optimisation tools which they have been marketing to end - users with weather risks . the attached word documents are articles that he has written for publication . regards nick mooney - mcs . doc - analytic . doc - par . doc

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Subject: re : research and development charges to gpg vera : in studying the below information , if i am understanding it correctly , only $ 199 . 7 was to be reversed back to the research group and it should have occurred in july . do you not notice this entry either ? please let me know . thanks ! shirley crenshaw - - - - - - - - - - - - - - - - - - - - - - forwarded by shirley crenshaw / hou / ect on 08 / 11 / 2000 10 : 08 am - - - - - - - - - - - - - - - - - - - - - - - - - - - vince j kaminski 08 / 10 / 2000 02 : 25 pm to : vera apodaca / et & s / enron @ enron cc : vince j kaminski / hou / ect @ ect , shirley crenshaw / hou / ect @ ect , pinnamaneni krishnarao / hou / ect @ ect subject : re : research and development charges to gpg vera , we shall talk to the accounting group about the correction . vince 08 / 09 / 2000 03 : 26 pm vera apodaca @ enron vera apodaca @ enron vera apodaca @ enron 08 / 09 / 2000 03 : 26 pm 08 / 09 / 2000 03 : 26 pm to : pinnamaneni krishnarao / hou / ect @ ect cc : vince j kaminski / hou / ect @ ect subject : research and development charges to gpg per mail dated june 15 from kim watson , there was supposed to have occurred a true - up of $ 274 . 7 in july for the fist six months of 2000 . reviewing july actuals , i was not able to locate this entry . would you pls let me know whether this entry was made , if not , when do you intend to process it . thanks .

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Subject: re : powerisk 2001 - your invitation angelika , thanks for the invitation . yes , i shall be glad to attend and repeat the same presentation . vince angelika staude on 04 / 09 / 2001 04 : 19 : 08 am to : " ' vince . j . kaminski @ enron . com ' " cc : subject : powerisk 2001 - your invitation powerisk 2001 the global premier forumforenergy trading & risk management 6 th - 9 th november 2001 , paris dear mr kaminski , i am responsible for the programme of this year ' s powerisk conference in paris . helyette geman has informed me that she has contacted you concerning the workshop and that you are happy to do it with her again this year - brilliant ! i would like to know if you are also interested in delivering a paper again . the audience in previous years greatly appreciated your contribution , and i would me more than happy if you could join us again . to give you an idea of the programme so far , these are the ( " technical " ) topics that are already covered : chris strickland : forward curve models with jumps for the pricing of exotic energy contracts multi - factor forward curve models for the valuation of energy contracts adding jumps applying the models to exotic energy options extensions to multiple energy contracts les clewlow : valuation and risk management of virtual power stations and gas supply agreements structures of gas supply agreements ( gsa ) relationships between physical and virtual power stations ( pps / vps ) valuation methods for gsa ' s and vps ' s risk analysis of gsa ' s and vps ' s derek bunn , professor of decision sciences , london business school : analysing the impact of neta on market efficiency & volatility in the uk energy market chris harris , director of market development . operations and engineering , innogy : applying cutting - edge portfolio management theory in order to optimise your risk exposure establishing and valuing the key factors using a bottom up approach looking at the interconnection between key factors the treatment of the risk of infrequent but high impact events peter nance , principal , teknecon : combining power systems and monte carlo simulations for effective pricing dan mansfeld , head of risk control , vattenfall : assessing the benefits and risks of using derivatives as part of your risk management strategy spyros maragos : analysing new approaches to building forward curves from available market data tamara weinert , credit and contracts manager , mirant energy : successfully measuring limit setting ; risk reducing structures importance of credit in the organizational structure : reporting ; dependence ; structure of credit department brett humphreys : examining cutting - edge credit exposure mitigation tools : combining counterparty and portfolio credit var techniques helyette geman : pricing of exotic energy derivatives and structured contracts please let me know if you are interested in joining the powerisk 2001 speaker panel , and which topic you would like to cover . i think that something along the lines of last year ' s talk ( state - of - the - art volatility and correlation estimation techniques for multiple energy portfolios ) would be brilliant again , but please feel free to chose something else that has not been covered yet . i look forward to hearing from you , kind regards , angelika staude director powerisk 2001 tel : 0044 207 915 5675 fax : 0044 207 915 5101 ps : for your information , please find enclosed a list of confirmed speakers for powerisk 2001 . - confirmed speakers . doc

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Subject: re : visit to enron by professor nalin kulatilaka of boston university hi iris : may 17 th is fine . he will probably need to come in the night before ( the 16 th ) and he can make a hotel reservation at the doubletree or the hyatt and tell them he is a guest of enron and he will get a corporate rate . we will reimburse him for room expense only . he will need to pick up any miscellaneous room charges . we will also reimburse him for his flight expense and cab fare . the doubletree telephone # is : 713 - 759 - 0202 and the hyatt telephone is : 713 - 654 - 1234 . he can either leave his receipts with me when he is here or mail them to me and i will have a check cut . i will need his ss # . if you have any more questions , please let me know . thanks ! shirley from : iris mack / enron @ enronxgate on 04 / 20 / 2001 04 : 32 pm to : vince j kaminski / hou / ect @ ect , shirley crenshaw / hou / ect @ ect , shirley crenshaw / houston / eott @ eott cc : nalink @ bu . edu @ smtp @ enronxgate subject : re : visit to enron by professor nalin kulatilaka of boston university hi shirley , vince has requested that we invite professor nalin kulatilaka of boston university to speak at one of our thursday group luncheons / seminars . nalin says he is available to speak on may 17 th . can you let me know if this is okay , and what the procedure is for invited speakers . thanks and have a good weekend , iris

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Subject: correlation matrix reduction zhiyang , got your message . as we discussed , the best way to breakdown the big correlation matrix between different location indices is through " cluster analysis " . the idea is to select major hubs and the " satellite " markets . by establish the correlation between the hubs and correlation between the satellites and the hubs , the big matrix can be significantly reduced . then the traders only need to input the correlations between the hubs . this technique has been applied in our value at risk system . you may talk to tanya to find out the details . zimin ps : the wsprd code you requested .

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Subject: re : thank you dear vince , it was our privilege to have you here . paul ' s wife had a baby yesterday , and paul will be back on thursday . so maybe item 3 can wait until paul ' s return . as for ( 2 ) , yes - i will need a ps reader : o ) again , let us check paul ' s diary on his return before fixing a time for quentin kerr 1 1 . the resume you sent to me and grant looks quite good . i think it makes sense to interview this person and we can help you with a phone interview . is this simon ? ? ? thanks raymond vince j kaminski @ ect 08 / 08 / 2000 06 : 30 am to : paul quilkey / enron _ development @ enron _ development , raymond yeow / enron _ development @ enron _ development cc : vince j kaminski / hou / ect @ ect , grant masson / hou / ect @ ect subject : thank you paul & raymond , it took more than a few days to catch up after i came back from australia . there are few things i would like to bring up to your attention . first of all , i would like to thank you for your hospitality . i learned a lot about the australian markets and was greatly impressed with the quality of the people at the sydney office . 1 . the resume you sent to me and grant looks quite good . i think it makes sense to interview this person and we can help you with a phone interview . 2 . i have received another resume that looks very promising . i am very interested in this guy and would be ready to bring him over to the states where we lack desperately technical talent . can you help us by interviewing him in sydney ? the main determination i need from you is whether he can function in a company like enron . as any good academic he sent his resume in a ps format and i shall fax you a copy in case you don ' t have a postscript reader on your system . 3 . christian werner does some really neat things on the weather front . i would like to determine if he can help us to upgrade our systems . can we bring him to houston for a week to discuss the weather forecasting technology with mike roberts and joe hrgovcic ? i think that he could learn a lot from mike and other weather guys here how we translate weather info into business - related information . i shall be glad to underwrite the cost of this trip . vince

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Subject: re : meeting re : wharton strategy jennifer , i am available for 30 minutes on fri , oct 30 . . a meeting at 8 : 30 would work better for me . vince jennifer burns 10 / 24 / 2000 04 : 14 pm to : michele nezi marvin / enron communications @ enron communications , mark palmer / corp / enron @ enron , cindy derecskey / corp / enron @ enron , vince j kaminski / hou / ect @ ect , shirley crenshaw / hou / ect @ ect , beth miertschin / hou / ect @ ect , christie patrick / hou / ect @ ect , kristin gandy / na / enron @ enron cc : subject : meeting re : wharton strategy lets try for friday , october 27 @ 9 : 00 am , please let me know if you are available . thanks ! - - - - - - - - - - - - - - - - - - - - - - forwarded by jennifer burns / hou / ect on 10 / 24 / 2000 04 : 07 pm - - - - - - - - - - - - - - - - - - - - - - - - - - - jennifer burns 10 / 23 / 2000 11 : 08 am to : michele nezi marvin / enron communications @ enron communications , sarah mulholland / hou / ect @ ect , mark palmer / corp / enron @ enron , kristin gandy / na / enron @ enron , beth miertschin / hou / ect @ ect , christie patrick / hou / ect @ ect , jeffrey a shankman / hou / ect @ ect , vince j kaminski / hou / ect @ ect cc : subject : meeting re : wharton strategy jeff shankman would like to have a meeting re : wharton strategy . please let me know if you would be available thursday , october 26 @ 3 : 00 . i will get back with everyone to confirm a location . thanks ! jennifer

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Subject: cera conference call - tuesday , january 25 , 2000 kari : please enroll vince kaminski , enron corp . for the conference call to be held on tuesday , january 25 at 4 : 00 pm eastern time . information requested : name : vince kaminski company : enron corp . telephone # : 713 - 853 - 3848 he will call in 10 - 15 minutes prior to the conference call . please confirm his registration . thanks and have a great day ! shirley crenshaw 713 - 853 - 5290

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Subject: free ltci policy comparison software long term care insurance worksite marketing system take advantage of the most current information available concerning the group ltci market . developed after months of exhaustive research and agent interviews , the worksite marketing system is the resource for successful group enrollment . included with your order : agent manual - all the how - to info including an implementation schedule benefit manager flip chart presentation / sales script which promotes long term care insurance as productivity insurance benefit manager sales brochures benefit manager direct mail letters employer announcement letter seven ( 7 ) newsletter / e - mail articles to promote employee education prior to meetings 50 each of five ( 5 ) payroll stuffers 50 each of three ( 3 ) employee seminar posters employee education presentation on cd - rom 150 employee education brochures which promote long term care insurance as lifestyle insurance the secret of a successful group enrollment instructional audiotape a handsome gold embossed binder with storage pockets this comprehensive ltci policy review compares over 40 major companies in 17 benefit and ratings / asset categories and includes a premium comparison for a 60 year old couple . over 210 policies are covered in this semi - annual publication . this is the oldest ltc policy comparison in the nation and is a valuable tool for any agent selling ltc insurance today . ( older generation policies are kept after new policies are introduced because agents encounter the older policies in the field . ) the cd - rom version allows you to compare up to three companies at a time in any of the 17 categories . you ' ll also receive a spreadsheet version to take with you all the time . we don ' t want anybody to receive our mailings who does not wish to receive them . this is professional communication sent to insurance professionals . to be removed from this mailing list , do not reply to this message . instead , go here : http : / / www . insurancemail . net legal notice

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Subject: john d . martin - chair of finance at baylor university good afternoon ladies , i am working with vince kaminski , director of research , enron corp . and john martin , chair of finance at baylor university to schedule one hour time slots with ken lay , jeff skilling and andy fastow . vince and john martin are jointly authoring a 20 - 40 page paper , written in the style of a harvard business review piece , about ' transforming enron corporation as an act of managerial will - the value of active management ' . attached below you will find a brief outline of the proposed case study , although i have requested john martin to provide us with the specific questions he will be asking all three participants . we would like to schedule the one hour interviews on the following dates : monday , december 4 th tuesday , december 5 th week of december 11 th please let me know at your earliest convenience which of the above - mentioned dates / times works best with everyone ' s calendar . thanks a million .

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Subject: re : seneca lake storage deirdre , i run two senarios using two different curves . i got $ 1 . 39 / mmbtu per year for if - cng / north , and $ 1 . 41 / mmbtu per year for if - cng / n _ cityga . therefore if we look at 20 years time horizon , the storage can generate $ 1 . 40 * 1 . 4 * 20 = 39 . 2 mm dollars . let us discuss if you have any questions . zimin enron north america corp . from : deirdre mccaffrey 06 / 12 / 2000 10 : 45 am to : zimin lu / hou / ect @ ect cc : subject : seneca lake storage zimin - the gas assets group is looking at investing in a storage facility in western ny . here are the specs : total capacity : 1 , 400 , 000 mmbtus mdqw : 140 , 000 mmbtus mdiq : 70 , 000 mmbtus injection fuel : 1 . 5 % injection fee : $ . 003 w / d fuel : 0 % w / d fee : $ . 003 injection curve : cng north city gate w / d curve : cng north pool point please call with any questions - x 39685 . thanks - deirdre

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Subject: re : congratulations thanks vince . it was good to learn of your promotion as well . cheers .

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Subject: 20 th annual ceraweek - " shooting the rapids : strategies and risks for the energy future " mr . vincent j . kaminski managing director enron capital & trade resources corp . dear mr . kaminski : i am pleased to invite you to join my cera colleagues and me at our 20 th annual executive conference , " shooting the rapids : strategies and risks for the energy future " to be held february 12 - 16 , 2001 in houston , texas . ? this is the premier international gathering offering senior executives new ideas , insights and strategic thinking on the issues facing the global energy industry . i believe you will find the conference and related social events timely and of considerable value . ? our focus will be on the critical implications of the current market turmoil for energy strategies , investment , regulatory backlash , competitive dynamics , and industry structure . ? presentations cover all key regions and energy sectors - - oil , natural gas and power - - and their interconnections . ? the conference is the centerpiece of ceraweek , a full week of senior level meetings designed to foster exchange and learning , as well as informal interaction and networking . ? last year ' s participants included some 1600 executives from over 57 countries . complete details on ceraweek 2001 can be found at ? http : / / www . cera . com / cfm / track / mc . cfm ? p = 670 & c = 2804 ? . to register , please go directly to http : / / www . cera . com / cfm / track / mc . cfm ? p = 781 email register @ cera . com ; or call us at 1 ( 800 ) 879 - 2372 ext . 800 ( outside the u . s . ( 617 ) 497 - 6446 ext . 800 ) . ? i hope you will join us ! sincerely , daniel yergin chairman , cambridge energy research associates should you experience problems reaching the web site using the links above , please go to http : / / www . cera . com / ceraweek / our relationship with you is very important to us . ? if you wish not to receive future e - mail notifications , please send a reply to this message with " donotemail " as the subject of your message . ( mailto : info @ cera . com ? subject = donotemail ) ? please indicate whether you wish to be removed from the conference list or alternatively from the list for any future cera notifications .

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Subject: congratulations your majesty , congratulations on your well deserved promotion to managing director . i am very happy for you and a little sad as well because this was so long overdue . the list every year was not complete without your name on it . we shall need to celebrate this sometime . all the best , tony .

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Subject: replied resume i am forwarding a resume of one candidate who is very persistent and quite aggressive . please , take a look at him . vince - - - - - - - - - - - - - - - - - - - - - - forwarded by vince j kaminski / hou / ect on 06 / 23 / 2000 08 : 18 am - - - - - - - - - - - - - - - - - - - - - - - - - - - eric hilton on 06 / 22 / 2000 11 : 20 : 11 pm to : vince . j . kaminski @ enron . com cc : subject : replied resume mr . kaminski , ? ? ? ? ? ? ? i sent an actual resume via the postal service . i guess you never received it . thank you for your patience . a few features i possess that suggest that i may be a representative your well established company would value are : ? seven - plus years as a manager / junior executive of logistics in a fast - paced , demanding , and constantly evolving retail industry . experience in effectively developing and implementing policies and tasks under marketing , logistics , brand management , and best practices . ba degree in marketing with a 3 . 88 gpa from the university of san moritz , london england . extensive knowledge in management with the ability to effectively manage multiple tasks , as well as multiple associates , to achieve specific goals in research and brand management within the company ' s deadline . seven - plus years effectively implementing and teaching dynamic and successful customer service . with my current employer , i am in charge of logistics research and reports / data collection , as well as responsible for developing new and successful ideas and implementing them under constantly evolving brand management and best practices . traveling to london , england and extensively finishing my degree indicates that i am willing to go the
& extra mile
8 to achieve and obtain my goals . perhaps , mr . kaminiski , ? i am an associate you need at your well - respected company . i would be very happy to meet with you , at your convenience , to discuss the possibility of putting my education and experience to work for enron . thank you for your consideration . i look forward to hearing from you . i have attached my resume to this email formatted under microsoft word . warmest regards , eric hilton ? - my resume

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Subject: important information about united healthcare - please read ! to : houston area employees participating in the domestic medical plan benefits you may have recently received communication from united healthcare ( uhc ) concerning memorial hermann health systems ' ( mhhs ) decision to terminate their contract with uhc in the houston / beaumont area . this communication also included the names of physicians who will be dropped from the network due to this action . it is our intent to help you understand the situation . it is our understanding that memorial herman health systems asked for a 40 % increase in fees - a substantial increase that would have been passed on to you and enron ! when united healthcare attempted to negotiate with a counter proposal , memorial hermann cancelled their contract . while this contractual arrangement was between the hospital system and uhc , enron continues to support uhc in their ongoing contract negotiation efforts . at this time , it is only uhc which has been affected , however , it is our understanding that cigna has also been contacted by the hospital group and may be in contract negotiations at this time as well . many doctors have obtained admission privileges to other area hospitals within the uhc network or have contracted directly with uhc including those with admission privileges to the woodlands , sugarland and clear lake hospitals , to name a few . in a further effort to limit disruption to our affected employees and families who are enrolled in the uhc network or epo options , enron has authorized uhc to process claims incurred between september 28 and december 31 , 2000 as if the termination of the memorial hermann health systems from the network had not occurred and in - network benefits applied . office visits will have a $ 10 copayment and all other charges will be covered at 90 % . hospital admissions will still need to be pre - certified with uhc . these steps have decreased the number of participants ' affected by primary care physician disruption from 1 , 050 to 127 . if you need medical attention : you or your doctor / hospital must call uhc ' s customer service number so proper benefits can be verified . in some cases the hospital or doctor may request payment at the time service is performed . if this should happen , please obtain an itemized statement and submit it to uhc with a claim form for prompt reimbursement . claim forms can be obtained by calling 1 - 800 - 332 - 7979 or in houston at 713 - 853 - 7979 ( press 1 ) . open enrollment materials will be coming soon . take this opportunity to consider your elections for 2001 . united healthcare and enron hr are committed to assisting enron employees through this transition . we will communicate any further developments that may impact you or your family .

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Subject: save up to 40 % on popular software bundles ! software taking a bite out of your budget ? try oem ! live free or die ; death is not the worst of evils . the mere sense of living is joy enough .

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