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Subject: reactions log - in password http : / / www . reactionsnet . com dear reactions subscriber , you are entitled to free access to the reactions website . here is your username and password ( case sensitive ) to use this service . you can use them to access the latest issue of reactions on the web whenever you wish . you can also search the extensive archive of back issues and contact us via email . username = kaminski password = 105006 web address = http : / / www . reactionsnet . com please keep them in a safe place as you will need them every time you log on . if you have any problems in logging on or using this site please feel free to contact our dedicated help desk - telephone number + 44 ( 0 ) 20 7779 8006 or email web - help @ eurmoneyplc . com

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Subject: re : interview with enron corp . cliff : thank you for replying and we want to wish you the best in your new endeavor . texaco is also a good company and i am sure you will be pleased . best of luck ! sincerely , shirley crenshaw cliff parsons on 06 / 27 / 2000 02 : 05 : 13 pm to : shirley crenshaw cc : vince j kaminski , pinnamaneni krishnarao , osman sezgen , cp 38 @ andrew . cmu . edu subject : re : interview with enron corp . dear ms . crenshaw : i recently accepted a quant position with texaco in houston . lara berry from enron contacted me just after that , and i told her of the situation . i agreed to send her my resume ( which i did ) and keep in touch . enron is a fabulous corporation with exciting opportunities . mr . kaminski is very well known in the energy field , and i have read some of his material . i am extremely pleased that you all would be interested in me ; however , i have given my word to texaco . the texaco position offers a lot of opportunity and risk . this is the kind of challenge for which i am looking . if things do not work out , however , i would definitely contact enron again and cherish any opportunity for an interview . thank you very much , cliff parsons - - on monday , june 26 , 2000 , 11 : 27 am - 0500 shirley crenshaw wrote : > > > good morning mr . parsons : > > the enron corp . research dept . would like to conduct a telephone > interview with you at your convenience . > > the interviewers would be : > > vince kaminski managing director > p . v . krishnarao director > osman sezgen manager > > please give me some dates and times either this week or july 5 , 6 & 7 > of next week that you would be available and i will coordinate the > calendars . > > look forward to hearing from you . > > regards , > > shirley crenshaw > administrative coordinator > enron corp . research > 713 / 853 - 5290 > email : shirley . crenshaw @ enron . com > >

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Subject: news : aurora 5 . 2 update aurora version 5 . 2 - the fastest model just got faster - epis announces the release of aurora , version 5 . 2 aurora the electric market price forecasting tool is already legendary for power and speed . we ' ve combined a powerful chronological dispatch model with the capability to simulate the market from 1 day to 25 + years . add to that a risk analysis section , powered by user selectable monte carlo & / or latin hypercube modeling , enough portfolio analysis power to please the toughest critic , & inputs and outputs from standard excel & access tables and you ' ve got one of most powerful tools in the market . just a few months ago we expanded our emissions modeling capabilities , added our quarterly database update , increased the speed of the entire model , and made but that wasn ' t enough . we ' ve done it again . some of the operations that we ' ve included . . . two new reporting enhancements . the first is marginal reporting for fuels , resources and groups of resources . the second is the ability to display resource stack information in graphical and dispatch order form . other enhancements include dual fuel modeling , improved transmission modeling , greater access to hourly results , and the ability to model monthly emission rates . moreover , the databases for central and eastern , texas , and western markets have been updated to use the new modeling capabilities . we continue to make aurora easier to use . this version enhances user control over modeling , editing inputs , and viewing of aurora output . clients desiring to exploit the power of aurora now have greater control over the inputs and outputs through vb scripting in aurora . the new " update data " capability provides a means to universally change any data element . attached is more information on the fastest and most flexible tool of its kind . for additional information , please visit our website ( www . epis . com ) or contact our sales department at ( 503 ) 722 - 2023 . ask about our special 7 - day demo ! v . todd wheeler sales manager epis , inc . ( 503 ) 722 - 2023 tel . ( 503 ) 722 - 7130 fax www . epis . com todd @ epis . com > > - what ' s new - version 5 . 2 information . doc - technical information aurora v 5 - 2 . doc

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Subject: wti maket maker simulation model john , we finished the version 2 of the simulation model which deals with the open - close trading versus the continuous trading in the previous version . i added the cummulative p / l as an output . there are a few apparent trading strategies from this model : 1 ) higher bid / offer spread , more profit 2 ) more daily # of trades , more profit 3 ) smaller net open positions allowed , more profit 1 ) and 2 ) are obvious , but 3 ) is more interesting . it means that we are better off if we do not allowed net open positions at end of the day . in a trending market , this makes an intuitive sense , for example , in the case of bull market we are short as a market maker and we can avoid the loss at the higher openning price by keeping zero or small net short positions . i have attached the model with this mail , and i ' ll be happy to discuss the model in more details with you . zimin

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Subject: save your money by getting an oem software ! need in software for your pc ? just visit our site , we might have what you need . . . best regards , alyssa

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Subject: see page 1 best regards , jhherbert - gd . pdf

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Subject: sell advertising space on your website did you know that selling advertising on your website is a great way to earn extra revenues with absolutely no extra effort ? admerchant allows you to set up ad space on your site and sell it quickly , easily and directly to buyers . you will have the immediate benefit of earning significant revenues . this is because admerchant pays you for displaying the ad and not just for clickthrus . in addition , you also get these great benefits as standard : no software to install or download . just paste a couple of lines of html on your web pages . you have total control by deciding what ads to allow on your site . you decide how much to charge for your ad space . payments are made to you automatically regardless of the amount . it is free to join and you remain in total control of your ad space . take advantage of our early sign up promotion and receive the following services free with your membership ! a premium entry of your site in admerchant ' s directory . a free search engine optimisation ( seo ) assesment of your site . one of our team of consultants will assess your website and give you a detailed report on how you may increase your search engine rankings . all you have to do is visit the directory and get your site listed today . with warmest regards , george stevens customer manager , www . admerchant . co . uk george . stevens @ admerchant . co . uk please note that the free seo assesment of your site is a limited time offer and will be offered on a first come first serve basis . your are subscribed as glovechangeful @ mailb . fakeoutdoorsman . com . . please click here to unsubscribe . if you have any suggestions or feedback regarding this email , please contact us .

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Subject: re : resume vince , could you give him ( bill ) a call at 1 or 2 on friday cst ? his cell phone is 918 - 625 - 6683 . marshall brown vice president robert walters associates tel : ( 212 ) 704 - 0596 fax : ( 212 ) 704 - 4312 mailto : marshall . brown @ robertwalters . com http : / / www . robertwalters . com > - - - - - original message - - - - - > from : vince . j . kaminski @ enron . com [ smtp : vince . j . kaminski @ enron . com ] > sent : monday , march 12 , 2001 6 : 36 pm > to : marshall . brown @ robertwalters . com > cc : vince . j . kaminski @ enron . com > subject : re : resume > > > marshall , > > i am catching up with my mail . we would like to talk to this candidate as > well > ( phone interview ) . > > vince > > > > > > marshall brown on 02 / 21 / 2001 12 : 36 : 39 > pm > > to : vince kaminski > cc : > subject : resume > > > vince , > this candidate would be interested in speaking with you . > regards , > > marshall brown > vice president > robert walters associates > tel : ( 212 ) 704 - 0596 > fax : ( 212 ) 704 - 4312 > mailto : marshall . brown @ robertwalters . com > http : / / www . robertwalters . com > > > > > > > * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * > caution : electronic mail sent through the internet is not secure and could > be intercepted by a third party . > > this email and any files transmitted with it are confidential and > intended solely for the use of the individual or entity to whom they > are addressed . if you have received this email in error please notify > the system manager . > > this footnote also confirms that this email message has been swept by > mimesweeper for the presence of computer viruses . > > * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * > > ( see attached file : kour _ vas . doc ) > > >

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Subject: re : wharton finance conference sponsorship information i ' d be interested to see who else is sponsoring the conference and who the other panelists would be . since it is a first year conference , the success of it is highly dependent on the people who are pulling it together . since the deadline on the sponsorship form is sept . 8 , they should be able to give us an indication of other participants . do you want me to call suresh to find out - he ' s been emailing me every other day about how interested he is in working for ebs anyway . the timing of it is good - the week after everyone comes for super saturday . i ' d also be interested in what tom says . i ' d only do a gold sponsorship - i don ' t think we need or want to be on more than 1 panel - either the corporate finance or sales and trading . michele nezi marvin manager enron broadband services ( 713 ) 853 - 6848 jeffrey a shankman @ ect 10 / 05 / 00 10 : 55 am to : kristin gandy / na / enron @ enron cc : michele nezi marvin / enron communications @ enron communications , vince j kaminski / hou / ect @ ect , mark palmer / corp / enron @ enron subject : re : wharton finance conference sponsorship information it ' s not necessarily an either / or decision . michelle , do you think this is a good program ? kristin , can you call tom piazze at wharton , and ask him what he thinks about the importance of our participation in this ? jeff kristin gandy @ enron 10 / 05 / 2000 08 : 56 am to : jeffrey a shankman / hou / ect @ ect cc : subject : wharton finance conference sponsorship information here is another conference we can participate in . would you rather do this conference or the entrepreneurship conference ? kristin - - - - - - - - - - - - - - - - - - - - - - forwarded by kristin gandy / na / enron on 10 / 04 / 2000 08 : 55 pm - - - - - - - - - - - - - - - - - - - - - - - - - - - " suresh balasubramanian " on 10 / 04 / 2000 02 : 09 : 56 pm please respond to to : cc : subject : wharton finance conference sponsorship information hi kristin i am following up on our conversation earlier with respect to enron participating in the whartons finance conference and the evening reception known as bullish on finance . i think this forum will be a great opprotunity for enron to reach the students interested in finance and it also provides a great platform to talk about enrons unique position in the global financial community . please do consider the option of sponsoring a panel at the gold level . it provides a great value and essentially a full panel " ownership " to talk about enrons acitivities . i would like to touch base with you early next week to hear you thoughts and feedback on these proposals . looking forward to a great conference participation . kind regards suresh suresh balasubramanian mba class of 2001 the wharton business school ph # : 215 - 893 - 9491 - financel . con . enron . doc

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Subject: the garp 2001 convention : invitation to speak invitation to speak garp 2001 the 2 nd annual risk management convention 13 th & 14 th february , 2001
) marriott world trade center , new york dear kaminski further to my telephone conversation today with your secretary , shirley crenshaw , and on behalf of the global association of risk professionals , i have great pleasure in inviting you to speak at our 2 nd annual risk management convention
) garp 2001 . this event has rapidly establishing itself as the risk management industry
, s most important meeting point . garp 2000 reflected the key concerns of risk management experts world - wide , with over 400 attendees in its first year . three simultaneous streams address traditional pricing and risk management techniques , along with specialised streams addressing new sectors , such as the corporate world and the insurance industry . with a speaker panel of over 55 senior and executive financial professionals from investment banks , regulatory bodies , asset management firms , academics , insurers / re - insurers , corporate and system providers this is the financial risk management event of the year . key areas that this convention will consider include market risk ( stress testing , liquidity , jump diffusion , evt ) , credit risk ( regulation , modeling , stress testing , credit portfolio management , credit derivatives ) , operational risk , ( regulation , data , modeling , validation , evt ) advanced asset & liability management , corporate / energy risk management and the insurance & capital markets . from my research and discussions with experts in this arena your name was highly recommended as a speaker for this event . below is the stream on corporate / energy risk management and i had in mind one of the sessions below for you . also , the topic titles are provisional and i am open to suggested alterations . corporate / energy risk management modelling corporate risk
) risk management from a shareholder value perspective measuring energy risk
) tackling price volatility , adapting var , scenario modelling and regulatory requirements forward pricing
) construction of the forward curve , correlations , transparency issues the volatility challenge
) modelling price volatility and examining the new products designed to stabilise volatility energy credit risk management garp is a not - for - profit , independent organisation of risk management practitioners and researchers from leading financial institutions world - wide . garp
, s mission is to facilitate the exchange of information , developing educational programs and promoting standards in the area of financial risk management . for more information please refer to our web site : www . garp . com i sincerely hope you will be able to accept this invitation and i look forward to hearing from you in due course . should you have any questions please do not hesitate to contact me , otherwise i will call you again on to discuss this further . best regards andreas ps i have also attached a copy of garps 2000 program for your attention . _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ andreas simou garp 2001 - conference producer tel ? + 44 ( 0 ) 20 7626 9301 fax + 44 ( 0 ) 20 7626 9900 - draft programme . doc - g 2000 b & wlowr . pdf

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Subject: resume - jeff andrews vince , attached is the evaluation form and resume for your interview w / jeff andrews this afternoon at 5 pm . i will bring him to your office at that time . jeff is interviewing for a research position within the coal group . please feel free to contact if there are any questions . thanks chris williams ena staffing x 39866

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Subject: ppa auction the government of alberta power purchase arrangement auction of the regulated generation plants and units commenced wednesday , august 2 nd , and will continue through a number of rounds over a number of days and possibly weeks . enron canada power corp . ( ecpc ) , a wholly - owned subsidiary of enron canada corp . , is an invited bidder participating in the auction . for strategic corporate purposes and as a result of restrictions imposed under the auction participation agreement and the auction rules ( compliance with which is secured by a us $ 27 mm bid deposit ) , any information , details or speculation regarding ecpc ' s involvement in the auction , including whether ecpc is participating or continuing to participate in the auction or has withdrawn from the auction at any time , the plants or units ecpc is or is not bidding on , the amounts ecpc is bidding or is approved for bidding , and any other information whatsoever about the auction process is to be kept strictly confidential . in particular , the auction has been followed closely by the media and may be of interest to shareholders , investors and other constituents , and such communications are prohibited until after the auction has been completed and the winning bidders have been announced by the government of alberta . if you have any questions or concerns , please contact peter keohane , enron canada corp . , at 403 - 974 - 6923 or peter . keohane @ enron . com .

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Subject: move locations sorry , the churn has been turned in as of 4 / 15 / 00 therefore locations are as follows . tricia tlapek - eb 3273 a vince kaminski - eb 3273 b sam smith - eb 3273 c michael sergeev - eb 3274 a jason sokolov - eb 3274 b vacant - eb 3274 c this is where all equipment and items should be labelled . i am so sorry that we could not make changes on short notice . thanks kevin moore

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Subject: re : good day , a well wisher showed me a way to get p . p . v . on tv while not pay anything ! i know its hard to believe , but , i mean it . hit this new stuff yourself : http : / / catastrophical . look 4 source . com even a newbie can install it easily . if you wish off , add slash r to the above site . 10 . ninety six bottles of beer , three a ' s , three b ' s , one c , two d ' s , thirty six e ' s , three f ' s , two g ' s , seven h ' s , eleven i ' s , one j , one k , six l ' s , one m , twenty n ' s , twelve o ' s , one p , one q , six r ' s , twenty eight s ' s , nineteen t ' s , seven v ' s , seven w ' s , six x ' s , and five y ' s on the wall . . that carpenter is practicing running at this time . . goodbye , ida grisham

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Subject: univ of texas julia , the lawyers at ut at austin have some questions regarding your corrections to the non - disclosure agreement . specifically , they want to discus the arbitration provision . the name of the lawyer at ut is gene bartley , 512 471 2995 . vince

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Subject: re : kwi user group vince sorry to hear you cannot make it . . . you would obviously have been the big catch ! ! in terms of a london based replacement , who did you have in mind and what sort of subject could they cover ? david - - - - - original message - - - - - from : vince . j . kaminski @ enron . com [ mailto : vince . j . kaminski @ enron . com ] sent : 24 april 2001 23 : 22 to : djw @ kwi . com cc : vince . j . kaminski @ enron . com ; shirley . crenshaw @ enron . com subject : re : kwi user group david , i regret to inform you i am unable to attend the conference due to previous commitments . would you consider a speakers form our london office ? vince david warwick on 04 / 24 / 2001 09 : 47 : 31 am to : " ' vince . j . kaminski @ enron . com ' " cc : subject : re : kwi user group vince any further thoughts on this ? david - - - - - original message - - - - - from : vince . j . kaminski @ enron . com [ mailto : vince . j . kaminski @ enron . com ] sent : 13 april 2001 21 : 44 to : djw @ kwi . com cc : vince . j . kaminski @ enron . com ; vkaminski @ aol . com subject : re : kwi user group david , thanks for the invitation . i shall check my schedule on monday and will get back to you regarding the conference . i hope you will a very happy easter . vince david warwick on 04 / 12 / 2001 04 : 04 : 32 pm to : " ' vince . j . kaminski @ enron . com ' " cc : subject : kwi user group dear vince please may i reintroduce myself . we met last year at the sydney eprm conference which my company kwi sponsored . i chaired the session at which you spoke . as you may remember , my company , kwi are one of the world ' s leading provider of systems ( kw 3000 ) and consultancy for energy , trading and risk management . we have over 60 clients worldwide including many of the world ' s leading energy companies ( not enron unfortunately ) : north america - tva - ontario power - cinergy - bonneville power europe - enel - atel - electrabel - edf nordic - vattenfall - fortum - sydkraft - statkraft - birka energi - norsk hydro each year we stage a " kwi users forum " - a 2 - day event attended by leading trading and risk staff from our clients . last year there were about 100 delegates . the agenda primarily focusses on issues surrounding risk management for the energy sector . the agenda comprises keynote presentations on burning risk issues from industry leading energy speakers and practical workshops focussed around using our software . this years event is at a luxury hotel in the wonderful spanish city of barcelona and runs from the evening of sunday september 9 th to tuesday september 11 th . the main conference dinner is on the monday evening and is always a memorable event . this year it is in a leading barcelona restaurant preceded by a bus tour of the city with a stop for pre - dinner drinks . i would like to invite you to make the opening keynote address , the highlight of the conference . the subject could be : * a general energy risk related topic * a general insight into the secret of enron ' s continued success in the energy markets * your thoughts on the future development on energy markets ( and other commodity related - bandwidth etc . ) worldwide obviously , we would cover all your delagate costs including accomodation , food and drink . what ' s in it for you ? many of our users are some the energy sectors leading risk thinkers and i ' m sure you would enjoy meeting them and exchanging views . please let me know if you are able to accept the invitation . best regards david warwick - marketing dierctor and co - founder

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Subject: karthik rajan i spoke with karthik this morning about our offer , and answered some additional questions that he had . he has accepted our offer , but with one additional request . he would now like for us to ship his car . i asked him why he couldn ' t drive it down here , and he said that it was too old . i am going to check with relocation for an approximate cost and will get back to you . . . . thanks , molly x 34804

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Subject: re : risk 2000 panel discussion , boston oliver , makes sense to me . vince " oliver bennett " on 04 / 03 / 2000 09 : 49 : 13 am please respond to " oliver bennett " to : , " vince j kaminski " , cc : subject : risk 2000 panel discussion , boston just a quick email to start some discussion about the panel session you are involved in during risk 2000 in boston on 13 similarly it is often interesting to hear the panel ' s comments on one individual ' s more specific area of knowledge . ? conseqently if you could return this email ( to all panel members ) with topics you feel should be covered , any particular areas you would personally like to focus on , any proposed changes to the actual panel structure , and possibly additonal panel members you think should be there , that would be a good start . i am still in the process of looking for a moderator and if anyone has any suggestions , please let me know . ? ( the talk title is effectively applying weather derivatives ) ? best regards , ? oliver ? ? ? direct : + 44 ( 0 ) 20 7484 9880 ? risk publications , 28 - 29 haymarket , london swly 4 rx fax : + 44 ( 0 ) 20 7484 9800 ? email : oliver @ risk . co . uk www . riskpublications . com

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Subject: picks from analyst with high - level precision small - cap stock finder new developments expected to move western sierra mining , inc . stock from $ o . 70 to over $ 4 . oo westernsierramining . com western sierra mining is a company on the move , fast ! big news is out ! big business is afoot for wsrm ! read on to find out why wsrm is our top pick this week . * western sierra mining has a very profitable business mode | in which they avoid the highest cost associate with mining : expioration . essentia | | y , wester sierra operates mines on sites that have been previously explored and found to be " too small " for the | argest mining companies , yet stil | produce handsome profits . * the global mining industry boom wi | | continue for the foreseeable future due to the impact of china - driven demand on commodity prices and long suppiy - response lead times . * news ! news ! news ! read on to find out why we expect wsrm to take off this week ! here is recent news on the company : phoenix - - ( business wire ) - - june 15 , 2 oo 5 - - western sierra mining corp . ( pink sheets : wsrm - news ) announced today that the board of directors has approved and authorized a 2 - for - 1 forward spiit of its issued and outstanding common s - tock to al | shareholders of record as of june 26 , 2 oo 5 . the company stated that the reason for the split was to a | | ow additional investors to participate in the long - term goals and objectives of western . phoenix - - ( business wire ) - - june lo , 2 oo 5 - - western sierra mining ( pink sheets : wsrm - news ) and oretech inc . ( pink sheets : orte - news ) announced today that their respective boards of directors have agreed to enter into an agreement to develop the silver piume and pittsburg mines | ocated in coiorado . commenting on the proposed transaction , the president of western sierra mining , michael chaffee , said , " the new aiignment with oretech wi | | aliow each of the companies to utiiize their specific expertise to the maximum benefit of the other . oretech is trying to focus on developing its propriety extraction technology and western is expanding its mining activities in the u . s . we have started our due diiigence on the property and look forward to taking a proposal back to oretech by the end of the month . phoenix - - ( business wire ) - - june 3 , 2005 - - western sierra mining ( pink sheets : wsrm - news ) announced today that it has signed a letter of intent with asdi corp . providing wsrm the right to develop the asdi property | ocated in crescent vailey at battie mountain , nev . we cannot stress enough the significance of this news . a s - tock split can oniy mean one thing ; good business ! with the split date set at june 26 , now is obviously the time to get in . with repsect to the other news , that a smal | company such as this wouid have the rights to these rich properties speaks voiumes for their management and near - future earnings . that they wouid be so fortunate as to be involved with an industry pioneer such as oretech is nothing short of extraordinary . these fortuitous events have earned wsrm our highly recommendation symbol : ( wsrm ) current price : 0 . 70 short term target price : 4 . 60 12 month target price : 8 . 90 * * * news from the industry * * * * mining s - tocks have outperformed both the s & p 5 oo and the dow jones industrial average over the last three years . * profits by mining companies have doubled for the second year in a row . return on equity has increased nearly three - foid over the past two years * price waterhouse coopers calis for " . . . another bumper year for the giobal mining industry in 2 oo 5 . " they go on to say , " the sustained upturn in commodity prices has caught investors ' attention , creating a dash for mining s - tocks . add the unprecedented profits and free cash flows and we have a very buoyant industry . " for more information read , mine - enter the dragon , by price waterhouse coopers , located at pwcglobal . com disclaimer : information within this email contains " forward | ooking 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 invoive discussions with respect to predictions , expectations , beliefs , pians , projections , objectives , goals , 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 involve a number of risks and uncertainties which couid cause actual results or events to differ materialiy from those presentiy anticipated . forward looking statements in this action may be identified through the use of words such as " projects " , " foresee " , " expects " , " wil | , " " anticipates , " " estimates , " " believes , " " understands " or that by statements indicating certain actions " may , " " could , " or " might " occur . as with many micro - cap s - tocks , today ' s company has additional risk factors worth noting . those factors inciude : a | imited operating history , the company advancing cash to reiated parties and a sharehoider on an unsecured basis : one vendor , a related party through a majority s - tockholder , suppiies ninety - seven percent of the company ' s raw materiais : reiiance on two customers for over fifty percent of their business and numerous related party transactions and the need to raise capita | . these factors and others are more fully spelied 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 ail material facts or does not omit a material fact necessary to make the statements therein not misleading . ail 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 al | readers and subscribers to seek advice from a registered professional securities representative before deciding to trade in stocks featured within this email . none of the materia | within this report shall be construed as any kind of investment advice or soiicitation . many of these companies are on the verge of bankruptcy . you can | ose al | your mone * y 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 speciaily selected to be referenced based on the favorable performance of these companies . you would need perfect timing to achieve the results in the examples given . there can be no assurance of that happening . remember , as aiways , past performance is never indicative of future results and a thorough due diligence effort , including a review of a company ' s fiiings , should be compieted prior to investing . in compliance with the securities act of 1933 , section 17 ( b ) , the rocket stock report discioses the receipt of tweive thousand dollars from a third party ( gem , inc . ) , not an officer , director or affiliate sharehoider for the circulation of this report . gem , inc . has a position in the stoc * k they wi | | sel | at any time without notice . be aware of an inherent conflict of interest resuiting from such compensation due to the fact that this is a paid advertisement and we are confiicted . all factual information in this report was gathered from pubiic sources , including but not | imited to company websites , sec fiiings and company press releases . the rocket sto * ck report beiieves this information to be reiiabie but can make no guarantee as to its accuracy or completeness . use of the material within this email constitutes your acceptance of these terms .

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Subject: re : visit to enron nick , the airport is about 30 minutes by cab from the office ( 1400 smith ) . the best hotel is either hyatt regency downtown or doubletree downtown ( it is important to emphasize downtown when making reservations ) . the hotels are within a walking distance from the enron building . we can make reservations for dinner around 6 : 30 - 7 : 00 in a resturant within 10 minutes by car from the hotel . by the way , we shall be very glad to reimburse you for the trip related expenses . vince nick bambos on 05 / 11 / 2000 05 : 31 : 53 pm to : vince . j . kaminski @ enron . com cc : stinson . gibner @ enron . com subject : re : visit to enron vince , yes , that would be ideal . but let me call first my travel agent to see if there is a flight that would satisfy all the other constraints . what time should i be at enron on thursday , and how far is the airport from your offices ? thanks , nick vince . j . kaminski @ enron . com wrote : > > nick , > > can you come to houston thursday night and meet me , stinson and > kevin hannon ( one of top 3 executives at enron broadband services ) > for dinner ? > > vince > > nick bambos on 05 / 10 / 2000 10 : 49 : 46 am > > to : vince . j . kaminski @ enron . com > cc : stinson . gibner @ enron . com > subject : re : visit to enron > > vince , > > many thanks for arranging that . yes , friday 05 / 26 / 00 is good . > i ' m blocking off in my calendar may 26 for the visit . > > again , many thanks . i look forward to seeing you and stinson > in two weeks . > > nick > > vince . j . kaminski @ enron . com wrote : > > > > nick , > > > > thanks for your message . the best date for a visit to enron > > would be friday , may the 26 th . please , let me know if this date would > work > > for you . > > > > vince > > > > nick bambos on 05 / 01 / 2000 04 : 26 : 30 am > > > > to : vince . j . kaminski @ enron . com > > cc : > > subject : re : visit to enron > > > > vince , > > > > how are you ? hope all is well . > > > > is there any chance we can schedule my visit to enron on friday , may 19 , > > or friday , may 26 ? > > > > by the end of april i was able to attract a top new student to work on > the > > project . > > the other one for the coming year will be giuseppe . by spending the > summer > > at enron , he will be in a position to bring the new one up to speed and > > create an intellectual team here at stanford to look at these problems . > > > > i must move ahead soon to put the project in place and get the work > going . > > > > talk to you soon , > > > > nick > > > > vince . j . kaminski @ enron . com wrote : > > > > > > nick , > > > > > > we can close the loop on our commitment to support the research > projects > > > before your visit to enron . > > > > > > my assistant , shirley crenshaw , will call you to set up a conference > > call > > > with me , stinson gibner , > > > and tom gros from enron broadband services to discuss all the isssues . > > > friday this week would work for > > > both tom and me . i think we need about 15 minutes . > > > > > > vince > > > > > > p . s . shirley , nick ' s phone number is 650 796 8163 ( cell ) , 650 - 725 - 5525 > > > ( office ) . > > > > > > nick bambos on 03 / 12 / 2000 05 : 32 : 35 pm > > > > > > to : vince . j . kaminski @ enron . com , bambos @ stanford . stanford . edu > > > cc : > > > subject : visit to enron > > > > > > hello vince , > > > > > > it was nice seeing you at stanford and many thanks for the lunch > > > we had together . i really enjoyed our discussions , both at the > > > technical level and otherwise . > > > > > > i promised to send you an e - mail regarding possible dates for > > > a visit to enron . i delayed it for a week till my schedule was > > > clearer . let ' s see if we can get a match with your schedule - > > > mine is rather terrible : > > > > > > friday , 21 st of april looks good . but april 23 rd is easter > > > sunday , so that may make it difficult for some people at enron > > > to be around . let me know if that is the case . i am willing to > > > visit then , because the week after that i am scheduled to be in > > > japan and in the previous weeks i am all committed on fridays . > > > > > > friday , 19 th of may is the next possibility , but this probably > > > is too far out . the main problem is that i am operating within > > > a window of opportunity for attracting top students for this > > > research . this window closes by the end of april , and it would be > > > important for the student support funds to be in place then , so > > > that i can make hard commitments to students and attract top > > > talent . i am already reviewing files of students who have > > > approached me for phd advising , and i am in a mode of doing " soft > > > commitments to star - level students " to get this research and its > > > potential on their radar screen . top students are highly sought > > > after by advisors and i want to be an early player in this > > > competition . > > > > > > does my visit to enron have to happen before we can set up the > > > project and student support at stanford ? if so , doing it before the > > > end of april is important for getting top people . if the visit can > > > happen after we get the ball rolling , then we can schedule it in may . > > > i assume there will be multiple visits both ways when the project gets > > > going . please let me know what you think . > > > > > > best regards , > > > > > > nick

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Subject: energy book vl . 0 vince : i have rewritten the paragragh for chapter 3 . please read and return your comments . thanks , grant . - - - - - - - - - - - - - - - - - - - - - - forwarded by grant masson / hou / ect on 02 / 16 / 2000 02 : 48 pm - - - - - - - - - - - - - - - - - - - - - - - - - - - chris strickland on 02 / 15 / 2000 05 : 28 : 42 am to : grant masson @ ect , vkamins @ ect cc : subject : energy book hi grant , hope all is well with you . i trust you got my message via the voicemail that ileft with vince late friday afternoon about my inability to travel - i ' m trying to rearrange my trip for a couple of week ' s time when my ear has cleared up , and i look forward to meeting with you one day . i wrote to vince last week asking for a favour , but i ' m not sure ifhe is there in houston . i know that you guys are probably very busy but i was wondering if you can write a few sentences for me . i ' m sending out some sample chapters to the people who responded positively ( all of them ! ) to my request for some feedback on the book . chapter 1 has an ' overview ' of the book with just a couple of sentences on each chapter . could you please write a sentence or two for your chapter ? i ' m including what i have already written ( although i think it has changed slightly from this version ) so that you can see the style . many thanks and best regards . chris . 2 overview of this book this book aims to provide an in - depth understanding of the pricing and risk management of energy derivatives . in the remainder of this chapter we give an overview of the fundamental principals needed to model and price energy assets , and which underlie the rest of the book . as well as introducing the techniques that underlie the black - scholes modelling framework we discuss the numerical techniques of trinomial trees and monte carlo simulation for derivative pricing which are used extensively later in the book . in chapter 2 we analyse spot energy prices . apart from describing empirical prices we propose a number of processes that can be used to model the prices . we look at the well - know process of gbm as well as mean reversion , stochastic volatility and jump processes , discussing each , and showing how they can be simulated and their parameters estimated . chapter 3 , written by vince kaminski , grant masson and ronnie chahal of enron corporation , discusses volatility estimation in energy commodity markets . this chapter builds on the previous one . it examines in detail the methods , merits and pitfalls of the volatility estimation process assuming different pricing models introduced in chapter 2 . examples from crude , gas , and electricity markets are used to illustrate the technical and interpretative aspects of calculating volatility . chapter 4 examines forward curves in the energy markets . although such curves are well understood and straight forward in the world debt markets the difficulty of storage in many energy markets leads to less well defined curves . what we do in this chapter chapter 5 presents an overview of the common and not - so - common derivative structures in the energy markets and discusses their uses . examples of products analysed in this chapter include a variety of swaps , caps , floors and collars , as well as energy swaptions , compound options , asian ( or average rate ) options , barriers , lookbacks , and ladder options . chapter 6 investigates single and multi - factor models of the energy spot price and the pricing of some standard energy derivatives . closed form solutions for forward prices , forward volatilities , and european option prices are derived and presented for all the models in this chapter including a three factor stochastic convenience yield and interest rate model with jumps . chapter 7 shows how the prices of path dependent and american style options can be evaluated for the models in chapter 6 . simulation schemes are developed for the evaluation of european style options and applied to a variety of path dependent options . in order to price options which incorporate early exercise opportunities , a trinomial tree scheme is developed . this tree is built to be consistent with the observed forward curve and can be used to price exotic as well as standard american style options . chapter 8 develops a new methodology for valuing energy options based on modelling the market observed forward curve . the approach results in a multi - factor model that is able to capture realistically the evolution of a wide range of energy forward curves and where the user defined volatility structures can be of an extremely general form . closed - form solutions are developed for pricing standard european options and efficient monte carlo schemes for exotic options . the chapter finishes with a discussion of the valuation of american style options . chapter 9 focuses on the risk management of energy derivative positions . in this chapter we discuss the management of price risk for institutions that sell options or other derivatives to a client and who is then faced with the problem of managing the risk through time . we begin with delta hedging a portfolio containing derivatives and look at extensions to gamma hedging - using the models from chapters 5 and 7 . the general model of chapter 7 ideally suited to multi - factor hedging and this is also discussed . chapter 10 looks at the key risk - management concept of value at risk applied to portfolios containing energy derivative portfolios . after discussing the concept of the measure , we look at how the key inputs ( volatilities , covariances , correlations , etc ) can be estimated . we then compare the fours major methodologies for computing var ; delta , delta - gamma , historical simulation and monte - carlo simulation . finally , we look at testing the var estimates for various underlying energy market variables .

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Subject: re : one last reminder and then i will be quiet e - mail is perfect . it allows me to just dump your grades directly into our database . i do then sign a hard copy ( indicating that i am signing in proxy for you ) to hand over to the registrar . if you prefer , you could fax the information as well ( 713 - 348 - 5251 ) . thank you for your help ! - pam ( 713 - 348 - 6223 ) at 05 : 39 pm 4 / 24 / 01 - 0500 , you wrote : > pam , > > please , let me know how i can submit the grades . > i gave my students april the 30 th as a deadline to submit > their reports and i shall be able to send you the grades by may the 4 th . > > is e - mail ok ? > > vince > > > > > > pamela vande krol castro on 04 / 19 / 2001 10 : 11 : 23 am > > to : ( recipient list suppressed ) > cc : werckle @ ruf . rice . edu , spradlin @ ruf . rice . edu > subject : one last reminder and then i will be quiet > > > one last reminder . . > today is really your last day for scheduling final exams with linda werckle > ( 3463 ) . she will be out of town after today until exams begin . > > also , please remember to turn in your grades for all of your graduating > seniors by friday , may 4 th . this is the university deadline so we cannot > miss this date . the registrar needs final information on each student in > order to verify their graduating status . > > as always - thank you for your help ! > > pamela castro > mba program associate > rice university > 713 - 348 - 6223

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Subject: power trading hi folks : very glad to hear about the new developments . just to recap what we discussed this morning about different things you need to look into to set up trading operations and the contacts : 1 . licence to trade : regulatory people : i guess you know about this part better than me . 2 . trading & risk mgmt : global risk mgmt oversight : john sherrif in london has the overall responsibility outside western hemisphere . research group can help with the structuring models used for trading . 3 . risk conrols : before trading group is operational , it needs to get the authorization from the board of directors of enron along with total position limits and possibly value @ risk limits . these limits are typically by commodity type and by region . risk assessment & control ( rac ) under rick buy performs the internal control function ensuring that the businesses adhere to these trading limits . ted murphy is the vp in rac overseeing the trading operations . the value @ risk models come from the research group , but day - to - day monitoring of the numbers is done by ted ' s group . 4 . credit risk : a credit reserve number is computed for each deal ( again , the models are created by research ) and is transferred to the credit group under bill bradford ( also in rac ) . this is basically like buying insurance from the corp . , so that if there is a couterparty default , the loss is covered by the reserve pool of the credit dept . 5 . legal : the name i was given is alan aronowitz for legal help . 6 . back office : initially can survive with excel spreadsheets . you should contact the it though when the plans finalize to talk about systems . australia is the most recent place where we set up the trading operations . you can talk to paul quilky , the trader there to talk about these issues ( mention to him that grant masson in research gave his name ) . barry pierce in london was incharge of back office at the begin there . i can coordinate for talking with people next week . give me a call monday if possible . i hadn ' t the time to search for the presentation stuff today . will do it next week . krishna .

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Subject: entouch newsletter business highlights us natural gas teams the us natural gas marketing originations teams have had a successful lq 2001 . in addition to mid market activity led by fred lagrasta , new origination desk heads and marketing teams have been set up across the us and are led by the following : west gas origination - barry tycholiz , central gas origination - laura luce , east gas origination - frank vickers . these teams have made significant inroads in 2001 , focusing on customer coverage , new accounts , transportation syndication , risk management products and market intelligence . all of these individuals are open to any questions regarding the new businesses . siebel summary eim ' s ability to rapidly transform its designated forest products and steel markets is dependent upon its ability to effectively manage the market participants and accelerate their adoption of eim ' s business strategy . to achieve this objective , eim will implement siebel sales enterprise , a customer - focused centralized database that effectively leverages all information learned about our customers and enables sharing of this information throughout the front , mid and back offices . siebel is designed to help in - house and mobile sales professionals in large organizations manage accounts , contacts , activities and opportunities associated with the sales cycle . eim fundamentals is leading the siebel implementation effort . in the news enron is hosting the new york energy risk management seminar at the st . regis hotel in new york city on april 5 , 2001 . topics include : power outlook , natural gas outlook , and weather risk management . to rsvp , contact laura pena at x 3 - 5376 . welcome new hires egm - sherman franzen , fariba karimi , ryan krogmeier , lawrence marcus eim - ronald barnes , paul hanks , chad ihrig , stella pedroza , linda silva ena - hagar kedem , steven merriss , courdney williams , diane fellers transfers ena
) tammie schoppe , lynna kacal , johnna kokenge , karen jones , stuart zisman , anne labbe egm
) justin cornett , george thomas , richard yeboah , phi khanh wolfe , alan harvey , philip berry , ethan schultz , sanjeev khanna , mingcheng lian nuggets & notes " we have to move paper , make money and move the industry . " - - rodney malcolm , vice president / forest products eim congratulations to angela and chris connelly , manager in coal trading . they are the proud parents of nicholas connelly , born on march 17 and weighed 7 lbs . 11 oz . ( rumor has it that at 48 hours of age , he had more hair than his father ! ) congratulations to carmen and glenn wright , director in steel origination who welcomed little lauren nicole born march 12 . she weighed in at 7 lbs . 13 oz . and debuted with a full head of hair and " making lots of noise . " 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: refinance or mortgagefkzqeljhyno what a loan from lenderscan do for you : rates have never been lower ! ! lowest rates - best possible termsdebt this . . . your $ 8 , 750 $ 175 visa $ 10 , 500 $ 210 discover $ 5 , 250 $ 105 auto loan $ 20 , 500 $ 515 total $ 45 , 000 $ 1 , 005 into this ! ! ! $ 45 , 000 $ 390 . 06 annual savings : $ 7 , 379 . 005 - year savings : $ 36 , 896 . 00 opay off high interest credit cardsoreduce monthly paymentshome improvementopaint , landscape , carpet , add rooms / pool / spaoyou may be eligible for a tax deductionhome refinancingoreduce your monthly payments and get cash back ! oget up to 125 % of your homes value ( ratios vary by state ) . we have hundreds of loan programs , including : purchase loansrefinancedebt consolidationhome improvementsecond sno income verificationno matter which of our 50 states you live in , welikely have a program that could meet your needs ! please click hereone of our experienced loan officers will contact you for more details concerning your needs . want to be purged ? just go hereand we will promptly extract you . copyright dti inc .

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Subject: access to research project tracking database kevin kindall brought to my attention that a number of new members in the group may need to get access to the research projects tracking database in lotus notes . access can be requested through use of the secutity resource request form accessed from lotus notes . just submit the form requesting that you be added as a user of the research group ' s research projects tracking database . thanks , - - stinson

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Subject: resending paper - - - - - - - - - - - - - - - - - - - - - - forwarded by jason sokolov / hou / ect on 04 / 30 / 2001 08 : 18 am - - - - - - - - - - - - - - - - - - - - - - - - - - - " lynn nazareth " on 04 / 27 / 2001 12 : 46 : 37 pm to : jason . sokolov @ enron . com cc : subject : resending paper jason : here is our team ' s assignment . please confirm receipt . i am also sending you the file via my outlook address in case this doesn ' t work . this is our team : helen demianenko javier lamas lynn nazareth shauywn smith carlos wheelock sarah wooddy thanks , jason ! see you at enron this fall ! lynn get your free download of msn explorer at http : / / explorer . msn . com - mg _ analysis _ final . doc

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Subject: re : stinson vacation in feb . stinson , n o problem . vince stinson gibner 01 / 07 / 2000 10 : 51 am to : vince j kaminski / hou / ect @ ect cc : shirley crenshaw / hou / ect @ ect , melissa jones / enron communications @ enron communications , zimin lu / hou / ect @ ect , jean mrha / enron communications @ enron communications subject : stinson vacation in feb . vince : i would like to take four days of vacation time in february , from feb . 22 through 25 th . thanks , - - stinson

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Subject: enron ' s 2001 goals our vision to become the world ' s leading company positions our company for great success this year and beyond . our success is dependent on execution . with that in mind , we are making enron ' s 2001 corporate and business unit goals available to employees . please take a few minutes to review our 2001 goals on enron ' s intranet at http : / / 172 . 28 . 92 . 190 / bowne / we believe they will help you gain a better understanding of our vision for the company and will inspire you to identify innovative ways to help your organization and enron achieve our objectives . we have a lot to accomplish this year , and with your hard work and dedication , we can realize another year of stellar performance .

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Subject: interviews hi vince , thanks for taking the time off to meet with me last week . i did enjoy meeting you and your co - workers in the research group . i do realize my background may not be the best fit for the type of work done in your division . i ' ll be job hunting over the next several weeks , and would really appreciate it if you could let let me know if something opens up at enron . thanks again and best regards . ruwan - - * ruwan jayasuriya economics department ruwan @ rice . edu rice university http : / / www . ruf . rice . edu / ~ ruwan houston , tx 77005 *

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Subject: request submitted : access request for stewart . range @ enron . com stinson , he is looking for blanket approach to our disk , both read and write . is it legitimate ? vince - - - - - - - - - - - - - - - - - - - - - - forwarded by vince j kaminski / hou / ect on 11 / 20 / 2000 03 : 35 pm - - - - - - - - - - - - - - - - - - - - - - - - - - - arsystem @ mailman . enron . com on 11 / 20 / 2000 02 : 37 : 25 pm to : vince . j . kaminski @ enron . com cc : subject : request submitted : access request for stewart . range @ 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 : 000000000007876 approver : stinson . gibner @ enron . com request create date : 11 / 20 / 00 2 : 36 : 29 pm requested for : stewart . range @ enron . com resource name : \ \ enehou \ houston \ common \ research - [ read / write ] resource type : directory

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Subject: rendez - vous reporter : tuesday 5 th september 2000 > tuesday 5 th september 2000 > > the monte carlo rendez - vous reporter from reactions , in association with > guy carpenter [ http : / / www . guycarp . com ] . simply click on the link next to > each headline to read the full story . > > top stories of the day : > > back to basics for employers re > http : / / www . reactionsnet . com / conferences / viewstory . asp ? id = 675 > > deconstructing the nature of risk > http : / / www . reactionsnet . com / conferences / viewstory . asp ? id = 680 > > also : > quackenbush report condemned > http : / / www . reactionsnet . com / conferences / viewstory . asp ? id = 683 > fremont moves to stem loses > http : / / www . reactionsnet . com / conferences / viewstory . asp ? id = 684 > independent toughs it out > http : / / www . reactionsnet . com / conferences / viewstory . asp ? id = 677 > xl to grow reinsurance business > http : / / www . reactionsnet . com / conferences / viewstory . asp ? id = 679 > taylor will stay in industry after leaving lloyd ' s > http : / / www . reactionsnet . com / conferences / viewstory . asp ? id = 676 > st paul re restructures > http : / / www . reactionsnet . com / conferences / viewstory . asp ? id = 678 > purkiss unveils alea > http : / / www . reactionsnet . com / conferences / viewstory . asp ? id = 681 > wurtt uk goes digital > http : / / www . reactionsnet . com / conferences / viewstory . asp ? id = 682 > unum boosts max re ' s premiums > http : / / www . reactionsnet . com / conferences / viewstory . asp ? id = 685 > alexander forbes to acquire in uk > http : / / www . reactionsnet . com / conferences / viewstory . asp ? id = 686 > > > > please visit http : / / www . reactionsnet . com for all the latest news from the > world ' s largest insurance and reinsurance conference . > > alternatively , you can read these stories on the official rendez - vous > website at http : / / www . rvs - monte - carlo . com > > > book of the industry : > > reinsurance > fourth edition of professor robert l carter ' s industry - standard textbook . > https : / / ecommerce . waterside . net / reactions / reins _ fourth . asp >

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Subject: re : anita dupont resume sheila , no , we have to go through the posting phase first . i shall ask shirley to provide the job description . vince from : sheila walton 08 / 04 / 2000 02 : 44 pm to : vince j kaminski / hou / ect @ ect cc : norma villarreal / hou / ect @ ect subject : re : anita dupont resume vince , alice has strong qualities for a sr admin asst . vince , have we posted this position on the job posting board ? if so , great . if not , we need to post this opening to prove that we have given an opportunity to all existing enron employees before we go outside to external candidates . otherwise , existing employees have a valid complaint that we are limiting their advancement within enron but hiring externally . if we have not posted this , i will have the recruiter contact shirley so shirley can give us a job description . then we can post and interview anita simultaneously . please let me know asap if this has been posted . thanks . sheila walton vince j kaminski 08 / 02 / 2000 08 : 48 am to : sheila walton / hou / ect @ ect cc : vince j kaminski / hou / ect @ ect subject : anita dupont resume sheila , i would like to hire anita dupont as a senior admin assistant , reporting to shirley . please , call me about it after you review the resume . vince - - - - - - - - - - - - - - - - - - - - - - forwarded by vince j kaminski / hou / ect on 08 / 02 / 2000 08 : 52 am - - - - - - - - - - - - - - - - - - - - - - - - - - - anita dupont @ enron 08 / 02 / 2000 08 : 17 am to : vince j kaminski / hou / ect @ ect cc : shirley crenshaw / hou / ect @ ect subject : anita dupont resume vince : here is the resume you requested . thanks . anita

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Subject: re : meeting re : wharton strategy i am sorry . . . . . . as per message below we are changing it to friday at 9 : 00 . vince j kaminski 10 / 24 / 2000 04 : 43 pm to : jennifer burns / hou / ect @ ect cc : vince j kaminski / hou / ect @ ect , shirley crenshaw / hou / ect @ ect subject : re : meeting re : wharton strategy jennifer , i can rearrange some other meetings . thursday , oct 26 @ 3 : 00 works 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: rice / enron seminar series fyi ! shirley - - - - - - - - - - - - - - - - - - - - - - forwarded by shirley crenshaw / hou / ect on 09 / 15 / 2000 02 : 43 pm - - - - - - - - - - - - - - - - - - - - - - - - - - - barbara ostdiek on 09 / 15 / 2000 02 : 39 : 53 pm to : ostdiek @ rice . edu cc : subject : rice / enron seminar series jones graduate school research seminar series in finance sponsored by enron corp . jeff pontiff university of washington will give a seminar at the jones school on friday , september 22 , ?
& market valuation of tax - timing options : evidence from capital gains distributions .
8 the seminar will begin at 3 : 30 in room 115 . a word file with the paper is available through the seminar website http : / / www . ruf . rice . edu / ~ jgsfss / . there have also been several updates to the schedule in the last week or ten days .

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Subject: all graphics software available , cheap oem versions . good morning , we we offer latest oem packages of all graphics and publishinq software from corel , macromedia , adobe and others . $ 80 adobe photoshop 8 . 0 / cs $ 140 macromedia studio mx 2004 $ 120 adobe acrobat 7 . 0 professionai $ 150 adobe premiere pro 1 . 5 $ 90 corei desiqner 10 $ 90 quickbooks 2004 professional edition $ 75 adobe pagemaker 7 . 0 $ 70 xara x vl . 1 $ 75 adobe audition 1 . 5 $ 90 discreet 3 d studio max 7 $ 115 adobe golive cs $ 135 adobe after effects 6 . 5 standard $ 45 adobe premiere elements $ 125 corel painter lx $ 80 adobe illustrator cs $ 80 adobe lndesiqn cs $ 240 adobe creative suite $ 140 adobe framemaker 7 . 1 $ 50 ulead cooi 3 d production studio 1 . 0 . 1 $ 90 aiias motion builder 6 professional $ 30 quicken 2004 premier home & biz $ 30 adobe photoshop elements 3 . 0 $ 110 adobe premiere pro 7 . 0 learn more . . . sincereiy , beatrice

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Subject: update - rofr per our meeting , i added a switch so that the pipeline can accept or reject the best bid if the best bid is not the cap rate . zimin

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Subject: henwood stuff and thoughts about valuation did you guys get this ? i was too interested in the conversation to interrupt with comments about risk / return if the decision would be covered in rates , it is the customers ' curves or equivalently the puc ' s curve . i think if i were going to approach valuation in commodities where the assumptions of black / scholes do not apply , i would start with the capm for large industries in an area , use pro formas to translate this to utility curves for the input commodities , and add the utility curves . another issue : the factor that explains why enron is lowest bidder is its role in the market . in the 1930 s , keynes argued that if most market participants with long position were hedgers , futures prices would be higher than spot ; if they were speculators or traders , future prices would be lower than spot . traders must be compensated for holding the risk ; hedgers ( including utilities and consumers ) are willing to pay a premium for the certainty . consequently , enron traders have bigger bid / ask spreads and lower bid prices . just some random thoughts , michael - - - - - original message - - - - - date : 01 / 04 / 2001 10 : 41 am ( thursday ) from : " heather mason " to : hq 3 . em 5 ( michael schilmoeller ) mark your calendar - tuesday january 23 , 2001 downtown houston hyatt hotel henwood will be hosting a comprehensive ercot symposium on tuesday , january 23 , 2001 . a team of henwood regional power market specialists will be presenting the latest analysis and information to assist you in preparing for the new ercot restructured power market , in addition to an anlysis of the issues now playing out in the wscc markets . coffee and registration will begin at 9 : 30 am and the program will run until 3 : 00 pm . lunch and snacks will be provided . agenda topics include : * what will be the critical - success factors for qualified scheduling entities operating in ercot ' s new wholesale & retail markets ? * how will market restructuring impact mid to long - term wholesale prices ? * what is the outlook for new generation ? * what are the impacts of upcoming emission regulations on ercot ' s generation resources ? * what are the new analytical tools available to capture market uncertainty impacts to your supply contracts and generation assets ? * what are the restructuring lessons learned from the california experience and the implications to ercot ? in conjunction with this program , henwood will have a demonstration room available to present its latest software applications and e - business solutions . a nominal $ 75 registration fee is required to reserve a space in the workshop . for more information or to reserve your spot , please contact heather mason at henwood : hmason @ hesinet . com or 916 / 569 - 0985 . about henwood : henwood offers integrated business solutions , strategic consulting , and innovative e - business applications to meet the challenges of the restructured energy markets throughout north america , australia , and europe , serving clients that include eight of the ten top utilities in north america , in addition to energy services providers and power marketers .

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Subject: you don _ t know how to attract customers to your website ? 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 online otherwise it will be invisible virtually , which means efforts spent in vain . if you want people to know about your website and boost your revenues , the only way to do that is to make your site visible in places where people search for information , i . e . submit your website in multiple search engines . submit your website online and watch visitors stream to your e - business . best regards , anderson west

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Subject: credit applicatiions in grms this note is from ted murphy ( not bjorn hagelman ) my understanding is that yet another meeting has been scheduled with the intent of diverting resources from the grms project to some other project . while i am not privy to the urgency of this other project , i do know that we have a very large , multi - phase project going in grms . grms stands for the global risk monitoring system . it is not intended to be a commercial trading product not is its primary purpose for commercial decision - making . conceptually , it is a risk warehouse for the primary purpose of rac due to the deficiency of current front office trading systems and their inability to provide timely , aggregated information useful to rac . rac has spent over a year developing a business plan scope and detailed task list to accomplish its objectives . as a firm we are woefully behind our press clippings in our ability to aggregate and understand our risk profile . my most recent sojorn in europe is a classic example of the current systems inabilty to aggregate and meet the needs of rac having abetted poor decision making and causing cash losses in well in excess of the grms budget or that of the market risk group in rac . the grms project is a requirement that bill bradford and i have in order to do our jobs . we have delegated authority to debbie brackett and rudi zipter to make decisions regarding priorities and as such meet regularly with jonathon and his team as well as rick buy to provide updates . while progress is never as fast as we would like it , in every instance in which we have only to rely on rac , jonathon ' s team and research to make a deadline it haas been hit . the primary reason for any delays whatsoever has been the diversion of resources off the project or the reliance for cooperation from some other source - most recently the it staff in london was a tremendous impediment to deadlines . please excuse the frustration that is apparently coming through in this note , but i feel like the boy with his finger in the dyke and no one is listening . also , i have had several employees come to resignation over their frustration on the lack of management support for this project , usually manifesting itself in the lack of resources or the diversion of resources devoted to it . i think we have proven collectively that we can organize a modular multiphase project and provide tangible deliverables when not distracted . please let us do our jobs . i do not denigrate the efforts of others , but i believe that they must either submit their detailed requirements to us for our consideration of their worthiness to put in our que or develop their own project with their own resources . thank you for your consideration of this opinion . as it relates to things that will effect the ability of market risk to do its job , please consult me as i would you . ted

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Subject: benchmarking questionnaires vince , attached are two sets of benchmarking questionnaires for your kind perusal . regards , khairuddin ( see attached file : q _ bench _ rms . doc ) ( see attached file : feb 5 - 17 , 2001 . doc ) disclaimer : this e - mail and any files transmitted with it ( " message " ) is intended only for the use of the recipient ( s ) named above and may contain confidential information . you are hereby notified that the taking of any action in reliance upon , or any review , retransmission , dissemination , distribution , printing or copying of this message or any part thereof by anyone other than the intended recipient ( s ) is strictly prohibited . if you have received this message in error , you should delete this message immediately and advise the sender by return e - mail . opinions , conclusions and other information in this message that do not relate to the official business of petronas or its group of companies shall be understood as neither given nor endorsed by petronas or any of the companies within the group . ( embedded image moved to file : pic 24962 . pcx ) - q _ bench _ rms . doc - feb 5 - 17 , 2001 . doc - pic 24962 . pcx

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Subject: delivery status notification - these recipients of your message have been processed by the mail server : antonioacm @ zipmail . com . br ; failed ; 5 . 2 . 2 ( mailbox full )

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Subject: we dare you to find a better annuity call today for more information ! - or - please fill out the form below for more information name : e - mail : phone : city : state : * 5 . 40 % for deposits of $ 100 , 000 and up , 5 . 25 % interest for deposits totalling $ 25 , 000 - $ 99 , 999 . we don ' t want anyone to receive our mailings who does not wish to receive them . this is a professional communication sent to insurance professionals . to be removed from this mailing list , do not reply to this message . instead , go here : http : / / www . insuranceiq . com / optout legal notice

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Subject: re : stanford project nick , thanks for your message . my family is in houston for the christmas holidays and this means i am not coming any time soon to stanford . i shall probably visit the campus for the parents weekend . let ' s plan to meet for dinner then . i am very glad that you have recruited the 2 nd phd student for the research project . we are discussing internally what would be the best topic ( s ) for the project and we should be ready to talk to you in the nearest future about it . it makes a lot of sense for you to visit enron to finalize the selection of the research topics . we shall be glad to take both eric and giuseppe as summer interns . everybody was immensely impressed with giuseppe and we shall welcome him with open arms . i shall get in touch with you in the beginning of january to finalize the arrangements for your trip and our meeting at stanford . vince nick bambos on 12 / 20 / 2000 12 : 14 : 40 pm to : vince . j . kaminski @ enron . com cc : stinson . gibner @ enron . com subject : stanford project hello vince and stinson , first of all , best wishes for happy holidays ! ! ! ! if you are in the stanford area during the holidays , let ' s get together some time to have dinner . i have formally established the project - thanks again for funding it - and i have also recruited the second phd student . his name is eric cope , and he is a top - notch student , very mature , and entrepreneurial ! we have started working on some interesting problems in this area . i would hope that eric could spend the coming summer at enron to get immersed into the " problem / opportunity generation environment . " that really helps the student to develop a realistic vision about their research . perhaps , our whole team could visit enron again some time in the next quarter , say in march or so , to discuss the research issues we are pursuing . and of course you could visit us before that too . with my warmest wishes , nick

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Subject: enside draft here is the version with my modifications over mike ' s version . please feel free to make modifications / corrections . osman

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Subject: cal berkeley vince and john , i wanted to send you a quick note and once again say thank you for attending the cal berkeley presentation last week . i am sorry for the low attendance on campus , however i did want to send some refreshing news . i just received the resumes of students who would like to interview with enron . there were 43 resumes submitted for the technologist position and 46 resumes submitted for the analyst position . please let me know if you have any questions . thanks , ashley

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Subject: spreadsheet for george posey vince and clayton : attached is the spread sheet i worked up for george posey . feel free to edit or let me know and i will . thanks !

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Subject: miscellaneous items good morning tom : please furnish the following information to me for the research directory : name : tom halliburton title : location : ebl 957 phone # : 5 - 8539 home address : home telephone : wife ' s name : your birthday : also for your information , there will be a research group staff meeting every thursday from 11 : 30 am to 1 : 00 pm in eb 30 cl . lunch will be provided . please let me know what kind of sandwich or salad you would like and what you would like to drink . thanks ! shirley 3 - 5290

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Subject: seminar mugs vince : can your secretary forward to debra thomas the enron logo in a word document that debra can use in a design for the rice / enron finance seminar series mugs ? hope your summer is going well . thank you again for your kind assistance . bbo

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Subject: re : volume ii of the technical corner collection sam , this is a partial list of people to whom i would like to send the volumes : volume 1 & 2 winokur ( enron board member , shirley has his address ) jeff skilling ken lay mark frevert greg whalley rick buy jeff shankman john lavorato dave delainey i shall write the cover letter . also , we can add additional volume for kaminski ' s columns ( just 10 copies ) , including bios and my contributions . i would like to show the depth of talent we have in the group . vince enron north america corp . from : william smith @ enron 01 / 09 / 2001 01 : 07 pm to : vince j kaminski / hou / ect @ ect cc : subject : volume ii of the technical corner collection vince , i have successfully integrated martin ' s article into volume ii and am following mike ' s instructions for reproduction . i ' m also having some additional volume i ' s printed , too . would you mind disposing of the other set i gave you ? i wouldn ' t want things to get confused . also , i ' m doing 20 volume i ' s and 60 volume ii ' s . please let me know how many you personally need and i will deliver them to your office . thank you , sam

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Subject: year end 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 year end 2000 performance management process by providing meaningful feedback on specific employee ( s ) . your feedback plays an important role in the process , and your participation is critical to the success of enron ' s performance management goals . to complete requests for feedback , access pep at http : / / pep . corp . enron . com and select perform review under performance review services . you may begin providing feedback immediately and are requested to have all feedback forms completed by friday , november 17 , 2000 . if you have any questions regarding pep or your responsibility in the process , please contact the pep help desk at : houston : 1 . 713 . 853 . 4777 , option 4 london : 44 . 207 . 783 . 4040 , option 4 email : perfmgmt @ enron . com thank you for your participation in this important process . the following is a cumulative list of employee feedback requests with a status of " open . " once you have submitted or declined an employee ' s request for feedback , their name will no longer appear on this list . review group : enron feedback due date : nov 17 , 2000 employee name supervisor name date selected - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - andrews , naveen c rudi c zipter oct 31 , 2000 baxter , ashley david davies nov 02 , 2000 campos , hector o peyton s gibner nov 06 , 2000 carson , richard l richard b buy oct 30 , 2000 crenshaw , shirley j wincenty j kaminski oct 26 , 2000 gandy , kristin h celeste c roberts nov 01 , 2000 gorny , vladimir theodore r murphy ii nov 02 , 2000 hewitt , kirstee l steven leppard nov 06 , 2000 kindall , kevin vasant shanbhogue oct 30 , 2000 lamas vieira pinto , rodrigo david port oct 31 , 2000 patrick , christie a steven j kean nov 09 , 2000 pham , bich anh t sarah brown nov 06 , 2000 raymond , maureen j wincenty j kaminski nov 02 , 2000 rosen , michael b christie a patrick nov 06 , 2000 sun , li kevin kindall nov 09 , 2000 supatgiat , chonawee peyton s gibner oct 27 , 2000 tamarchenko , tanya v vasant shanbhogue oct 26 , 2000 tawney , mark r jeffrey a shankman oct 26 , 2000 thuraisingham , ravi paul h racicot jr nov 12 , 2000 williams , matthew steven leppard nov 08 , 2000 yaman , sevil vasant shanbhogue oct 27 , 2000 yuan , ding richard l carson oct 31 , 2000

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Subject: re : summer internships at enron vince : thanks . yes it is unfortunate that we were not able to quickly identify who the interested tiger team students were . we will go ahead and process an offer letter for kim and get it to her immediately . also , thanks for agreeing to help out with stanford . hopefully we will get a few good ones ! regards , celeste vince j kaminski 03 / 01 / 2001 09 : 32 am to : celeste roberts / hou / ect @ ect cc : vince j kaminski / hou / ect @ ect subject : summer internships at enron celeste , i have just talked to kim . i told her she will receive one . vince - - - - - - - - - - - - - - - - - - - - - - forwarded by vince j kaminski / hou / ect on 03 / 01 / 2001 09 : 31 am - - - - - - - - - - - - - - - - - - - - - - - - - - - vince j kaminski 03 / 01 / 2001 09 : 25 am to : celeste roberts / hou / ect @ ect cc : kristin gandy / na / enron @ enron , christie patrick / hou / ect @ ect , vince j kaminski / hou / ect @ ect , piazze @ wharton . upenn . edu subject : summer internships at enron celeste , it seems that the process lasted too long for some students and only kim whitsel is interested in the internship at this point . her resume has been forwarded to you . i am enclosing it just in case . thanks for your help . vince - - - - - - - - - - - - - - - - - - - - - - forwarded by vince j kaminski / hou / ect on 03 / 01 / 2001 09 : 20 am - - - - - - - - - - - - - - - - - - - - - - - - - - - fap on 02 / 23 / 2001 02 : 28 : 48 pm to : " ' vkamins @ enron . com ' " cc : " ' piazze @ wharton . upenn . edu ' " subject : summer internships at enron vince : thank you to you , ken and christie for coming to campus for the enron tiger team mid - project review . the students are working hard and appreciate your insight and suggestions to the project . thank you for your support of the wharton school . kim whitsel ( whitselk @ wharton . upenn . edu ) of tiger team 1 has informed me that she is very much interested in a summer internship at enron this year . i don ' t believe some of the students understood the process you had setup for them at enron as part of the tiger team . being concerned with having summer employment , they interviewed with other firms and ultimately accepted positions . the students asked that i express to you that this does not mean they are not interested in full time work at enron next year . i apologize and take responsibility for the lack of communication in this regard . i think it is a lesson learned and perhaps , in the future , we can make the agreement to students understood in advance of their " dedicated interview week " and eliminate their need to interview at all . this can also be an added advantage of applying to be a member of the tiger team . please let me know if you have any questions and exactly how kim whitsel should proceed . thank you , donna piazze program director field application project the wharton school univ . of pennsylvania 215 . 573 . 8394 fax 215 . 573 . 5727 fap @ management . wharton . upenn . edu piazze @ wharton . upenn . edu

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Subject: re : confirmation of meeting i ' ll probably be in houston sometime in the next couple of months , otherwise if you let me know when you ' ll be in london we ' ll rearrange for then . . . hope to meet up eventually ! paul to : paul e . day cc : date : 02 / 10 / 2000 11 : 28 from : vince . j . kaminski @ enron . com subject : re : confirmation of meeting paul , sorry for the late notice . please , let me know when you are coming to houston . i shall be again in london sometimes in november . vince paul . e . day @ uk . arthurandersen . com on 10 / 02 / 2000 02 : 29 : 57 am to : shirley . crenshaw @ enron . com cc : vince . j . kaminski @ enron . com , wendy . dunford @ uk . arthurandersen . com subject : re : confirmation of meeting i would very much like to meet vince , unfortunately i am in back to back meetings all day today . maybe we could rearrange next time vince is in london or i am in houston . regards paul to : paul e . day cc : date : 29 / 09 / 2000 17 : 52 from : shirley . crenshaw @ enron . com subject : re : confirmation of meeting paul : fyi . regards , shirley - - - - - - - - - - - - - - - - - - - - - - forwarded by shirley crenshaw / hou / ect on 09 / 29 / 2000 11 : 49 am - - - - - - - - - - - - - - - - - - - - - - - - - - - shirley crenshaw 09 / 29 / 2000 11 : 51 am to : wendy . dunford @ arthurandersen . com @ enron cc : subject : re : confirmation of meeting ( document link : shirley crenshaw ) wendy : i am so sorry for the late notice , but vince will be in london for 1 day only , monday , october 2 nd . he has had some time freed up and if paul and julian could meet with him , they can call him at the grosvenor house , 870 - 400 - 8500 . his morning is already full , but lunch , dinner or afternoon would work . regards , shirley wendy . dunford @ arthurandersen . com on 09 / 18 / 2000 10 : 14 : 51 am to : shirley . crenshaw @ enron . com cc : subject : re : confirmation of meeting hi shirley thanks for getting back to me . regards wendy * * * * * * * * * * * * * * * * * * * internet email confidentiality footer * * * * * * * * * * * * * * * * * * * 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 kindly notify the sender by reply email . please advise immediately if you or your employer do not consent to internet email for messages of this kind . opinions , conclusions and other information in this message that do not relate to the official business of my firm shall be understood as neither given nor endorsed by it . * * * * * * * * * * * * * * * * * * * internet email confidentiality footer * * * * * * * * * * * * * * * * * * * 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 kindly notify the sender by reply email . please advise immediately if you or your employer do not consent to internet email for messages of this kind . opinions , conclusions and other information in this message that do not relate to the official business of my firm shall be understood as neither given nor endorsed by it . * * * * * * * * * * * * * * * * * * * internet email confidentiality footer * * * * * * * * * * * * * * * * * * * 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 kindly notify the sender by reply email . please advise immediately if you or your employer do not consent to internet email for messages of this kind . opinions , conclusions and other information in this message that do not relate to the official business of my firm shall be understood as neither given nor endorsed by it .

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Subject: folks , attached is a conservative ( and fairly rough ) estimate of the size of the petrochemicals and refining market that is potentially exposed to prolonged drought in southern texas which could result in extremely low riverflows and possible curtailed production . the total annual revenue generated by these assets is no less than $ 20 b and could be substantially higher as the estimated capacity on some of these facilties is likely understated and other facilties not yet identified are likely to be vulnerable . note that this data does not include any facilities in the industrial complexes from houston northward and eastward as they are much less likely to experience such a drought - induced interruption . the only facilties identified thus far lie on or near the following rivers : brazos , colorado , navidad , guadalupe , and nueces . please let me know if you have any questions / comments as we work to determine whether or not a low riverflow insurance product is viable . thanks , charlie

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Subject: important 42745 start your own adult entertainment business . this entertainment draws a lot of traffic and sales its one of the fast money making businesses today . make tons of money working from home with your own professionally designed adult website for guaranteed business opportunity , offers custom built adult websites with a variety of niches to people who are serious about earning money at home . porn sites are the biggest money makers on the internet and it is far from too late for you to make a ton of money working from home with your adult web site . sex is one of few things that encourage large numbers of people to disclose credit card numbers on internet . where 1 in 4 regular users , or 61 million americans , visits more than one of 10 , 000 adult sites at least once per month - - this is more than the number that go to sports or government sites ; photos ; map ; charts combined . - new york times visit us today to stop receiving our promising opportunity please reply with subject rem - ove hrbhnau

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Subject: re : hi vince hi jeff , no problem . as soon as we have an agreement in place , i shall start working with you . vince " $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ " on 01 / 10 / 2001 12 : 59 : 36 pm please respond to " $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ " to : vince . j . kaminski @ enron . com cc : subject : hi vince hi vince . here is my contact info : jeff wesley 949 813 2241 jjw @ ziplip . com jjw @ lokmail . net i work with mri usa and robertwalters uk i also underwrite my own deals . example of current accounts : painewebber merrill lynch crowell weedon current companies i work with include : conedison energy smud ( sacramento energy ) calpine energy morgan stanley dean whitter job orders sent : chicago mercantile exchange alcoa cournerstone energy i hope this makes it through the firewall ! my partner in london at robertwalters sent me a guy for you to browse . . . i ' ll pop him over later . thanks vince ! jeff * get free , secure online email at http : / / www . ziplip . com / *

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Subject: abstract shmuel , this is the abstract for my presentation on the 23 rd of october . i am in london and paris this week . i can be reached at my private e - mail address vkaminski @ aol . com . please , feel free to suggest modifications to the abstract . vince > the last three years were characterized by exceptionally high volatility of > the power prices in the us markets . the market developments have created a > number of unique challenges for energy industry economists . one immediate > question we have to answer is how to measure volatility of energy prices . > although we can all agree that the prices in the power markets are > characterized by high variability , the traditional measures used in financial > economics ( annualized standard deviation of log price returns ) may not fit > well electricity prices . the second challenge is to explain the sources of > high price volatility and to answer the question to what extent it can be > attributed to problems that can be addressed in the long run . such problems > include flaws in market design that allow some market participants to abuse > market power , limited availability and / or unequal access to transmission , > temporary shortages of generation capacity . some factors underlying high > volatility of electricity prices may be of permanent nature and may be a > necessary price to pay for increased market efficiency and expanded customer > choice .

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Subject: re : time keeping what about me ! i may need this in the future . . . . - - - - - - - - - - - - - - - - - - - - - - forwarded by kevin g moore / hou / ect on 03 / 21 / 2000 08 : 12 am - - - - - - - - - - - - - - - - - - - - - - - - - - - shirley crenshaw 03 / 21 / 2000 07 : 27 am to : brad mcsherry / hou / ect @ ect cc : vince j kaminski / hou / ect @ ect , william smith / corp / enron @ enron , kevin g moore / hou / ect @ ect subject : re : time keeping hi brad : i am it for our group ! however , it might be a good idea to train sam smith also . please let us know . thanks ! shirley 3 - 5290 from : brad mcsherry on 03 / 20 / 2000 05 : 38 pm to : lydia cannon / hou / ect @ ect , rosalinda resendez / hou / ect @ ect , donna baker / hou / ect @ ect , shirley crenshaw / hou / ect @ ect cc : subject : time keeping lydia / rosie / donna / shirley , we are looking to implement sap hr by 7 / 1 / 00 . there is a time keeping module in the program . please send me a list of the time keepers for your groups . do not forget to send your own name if you keep time . time keepers will be contacted in the near future for training on the new system . thank you for your help , brad

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Subject: prof . at rice here is this prof ' s home page at rice . his name is richard baraniuk . http : / / www - dsp . rice . edu / ~ richb / - - stinson

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Subject: visit may 4 th vince : per susan ' s email below , do you want to go to the luncheon for john hennessey ? she doesn ' t say where the lunch is going to be , did you get an invite ? the only thing you have that day is 9 : 00 am larry thorne and the energy derivatives class at 11 : 30 . let me know . thanks ! shirley - - - - - - - - - - - - - - - - - - - - - - forwarded by shirley crenshaw / hou / ect on 04 / 17 / 2001 11 : 55 am - - - - - - - - - - - - - - - - - - - - - - - - - - - " susan c . hansen " on 04 / 17 / 2001 10 : 47 : 38 am to : shirley . crenshaw @ enron . com cc : clovell @ stanford . edu , donna lawrence subject : visit may 4 th hi shirley , thanks for corresponding with carol during my absence , and confirming our meeting with vince kaminski at 1 : 30 on may 4 th . i have a question about the logistics . i believe dr . kaminski has received an invitation to an event in houston : new stanford president john hennessy is visiting a number of cities on a " welcome tour , " and it just so happens he is hosting a luncheon in houston on may 4 th . if dr . kaminski wants to attend the hennessy welcome tour luncheon , donna lawrence and i could meet with him at 1 : 30 somewhere in the hotel . if he ' s not attending the presidential event , please let me know where you are located , and we ' ll plan travel time accordingly . regards , susan susan c . hansen director , corporate relations school of engineering stanford university stanford , ca 94305 - 4027 ( 650 ) 725 - 4219

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Subject: re : hi vince : i think full time employment starting in about six months seems to be the best option . it is probably best to get my dissertation wrapped up before taking on additional commitments . regards zeigham - - - - - original message - - - - - from : vince . j . kaminski @ enron . com to : zkhokher @ mail . utexas . edu cc : vince . j . kaminski @ enron . com ; stinson . gibner @ enron . com date : tuesday , april 11 , 2000 10 : 25 am subject : re : hi zeigham , we discussed two options ( not necessarily mutually exclusive ) : 1 . summer internship 2 . full employment . are you interested exclusively in full employment ? i need the answer asap , as we are going to discuss the additional summer intern positions this afternoon . vince zkhokher @ mail . utexas . edu on 04 / 11 / 2000 01 : 06 : 14 pm to : cc : subject : hi vince : it was very nice talking to you at the texas finance festival and i think the telecom market that enron is entering is very interesting and very lucrative . i would be very interested in working in that segment for enron . however , i talked to sheridan about this oppurtunity and he said that it is probably going to be another six months before i finish my dissertation . so while i am definitely interested , the start date will probably have to be around that time . at any rate , it was a pleasure meeting you again and hopefully once i have defended my dissertation we can discuss employment oppurtunities in greater detail . regards zeigham zkhokher @ mail . utexas . edu 512 - 471 - 1676

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Subject: steve ' s trip to houston dale , richard , i am ready to cover the cost of steve ' s trip to houston ( one month in the summer ) . i think very highly of steve and think about coaching him a bit to expand his horizons . i see him as a very valuable asset of enron and a great leader in not too distant future . he needs exposure to more diverse business problems and areas of research . i think it will be in the best interest of the company to devote some resources to foster his development . vince

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Subject: market maker simulation v . 2 stinson and vince , i finished the second version of the model which deals with open to close trading . the major difference is that there is an additional mark to market at open price which will affect the p / l . i also added the output features that john wants to see . the cumulative p / l is path dependent , the net open allowed seemingly has a strong influence on the cumulative p / l trajectory . ( the anomaly i discussed with vince is due to the trajectory shape change which needs further examination ) . could you review what i have done before we talk to john again ? zimin

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Subject: re : risk report on " guide to electricxity hedging " and request fo r gu est access to enrononline ed , louise must be very busy . i sent her another message regarding your request . i shall call her if there is no reply from her within 3 days . please , let me know . vince ekrapels on 02 / 04 / 2000 01 : 58 : 59 pm to : vince j kaminski / hou / ect @ ect cc : subject : re : risk report on " guide to electricxity hedging " and request fo r gu est access to enrononline dear vince , i have not heard from louise and assume i cannot access enrononline . as a result , i have written what i can discern in the attached draft chapter for the risk guide to electricity hedging . could you review the enrononline section and let me know if i have any factual errors ? obviously , i welcome any other comments you might have . don ' t warry about any textual problems - - me editors will catch those . english is , after all , my thrid language ( he said , defensively ) . sorry i couldn ' t gain access . enrononline looks interesting and the stock market seems to be giving you a strong pat on the back . well done . thanks for your help . ed krapels - - - - - original message - - - - - from : vince j kaminski [ mailto : vkamins @ ect . enron . com ] sent : tuesday , january 18 , 2000 2 : 44 pm to : ekrapels cc : vince j kaminski subject : re : risk report on " guide to electricxity hedging " and request for gu est access to enrononline ed , i sent a message to louise kitchen who runs the enrononline effort . she should be getting back to you shortly . vince ekrapels on 01 / 18 / 2000 12 : 00 : 12 pm to : vince j kaminski / hou / ect @ ect cc : subject : risk report on " guide to electricxity hedging " and request for gu est access to enrononline dear vince , greetings from boston , where we ' re doing all we can to help keep the price of gas high . as i may have told you earlier , i ' m writing a " guide to electricity hedging " for risk publications similar to the report on oil . i had planned to write a significant section on enrononline , and in the midst of my research on the topic was denied access by enron ' s gatekeeper . can you help get me in ? as always , the best from here . ed krapels - - - - - original message - - - - - from : donna greif [ mailto : dcorrig @ ect . enron . com ] sent : tuesday , january 18 , 2000 12 : 37 pm to : ekrapels @ esaibos . com subject : request for guest access dear mr . krapels : thank you for requesting guest access to enrononline . unfortunately , we are unable to give you quest access at this time . enrononline is exclusively for those companies who can transact wholesale energy commodities and related products . in addition , you had indicated within the comments section of your email that you are preparing a " guide to electricity hedging " for risk publications . i have forwarded your inquiry to our public relations department along with your contact information . should you not hear back from anyone within a reasonable amount of time , please feel free to contact our call center at 713 853 - help ( 4357 ) . sincerely , donna corrigan greif enrononline help desk 713 / 853 - 9517 - attl . htm

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Subject: fw : mark boland - deal examples and accomplishments here ' s the list of deals and accomplishments for mark . . . molly - - - - - original message - - - - - from : vasut , tony sent : tuesday , march 13 , 2001 9 : 59 am to : magee , molly subject : fw : mark boland - deal examples and accomplishments - - - - - original message - - - - - from : port , david sent : monday , march 12 , 2001 10 : 47 am to : vasut , tony subject : fw : mark boland - deal examples and accomplishments - - - - - original message - - - - - from : mark . boland @ seb . se @ enron sent : monday , march 12 , 2001 8 : 05 am to : port , david subject : fw : mark boland - deal examples and accomplishments > - - - - - original message - - - - - > from : boland , mark > sent : tuesday , january 23 , 2001 15 : 26 > to : ' david . port @ enron . com ' > subject : mark boland > > david , > > i ' ll attach below a short outline which i have recently put together to > summarize what i ' ve been up to . > also , i ' ve attached a couple of termsheets ( we had very few in english ) to > give you a sample of my > production . more is available if need be . i ' ve put together around 200 > various deals in the last 3 years . > i believe you already have my resume from mark , but i ' ll be glad to send > another copy . > > i ' ll be tracking you down on the phone in the near future . > regards , > mark > > > > > > > outline : > 1 ) structuring > a ) provided coordination of all parts and entities in closing > structured bond deals . i . e . : coordination of > swap . option , bond issuer , back offices , documentation , middle > office , sales , traders ( swap desk and > multiple counterparties ) , research , credit limits , legal , etc . > b ) did all of the above in a ) in a profitable and successful manner , > while evolving the product > and processes at seb . this was accomplished both individually and as > part of a team . > 2 ) idea generation > a ) constantly provided group with new ideas to consider , every week . > provided written > and / or verbal explanation and additional information and coaching > b ) have brought forth new ideas which we have used and made profits > from > 3 ) option trading > a ) represent my department and seb to world ' s leading investment > banks and derivatives > traders on some of the most complex financial transactions carried > out in today ' s market > b ) successfully trade the product while maintaining huge profits , > and not making errors > which cost the bank money > c ) providing clients with a superior investment product > d ) creating enormous profits from arbitrage trading on my own > abilities , > 4 ) systems > a ) constructed valuation model for use by back , middle office , and > risk control , and ultimately > clients receive the results of this , received positive feedback from > users > b ) part of team to negotiate and choose new equity derivatives > systems > 5 ) training other members of the structured department > a ) product knowledge > b ) market knowledge > c ) system use > d ) all aspects of structuring to stockholm and international sales > team > e ) have successfully played role of " information booth " and " course > instructor " for > members of the department and bank wide > > > > mark m . boland > seb merchant banking > 10640 stockholm , sweden > > telephone + 46 8 5062 3224 > cell + 46 70 772 3224 > > this e - mail is from seb , skandinaviska enskilda banken . it may contain > privileged and confidential information and is intended for the named > recipient ( s ) only . if you are not an intended recipient , please notify us > immediately by reply e - mail , delete this e - mail from your system and > destroy any copy hereof . > - broschyr 204 engelska ny . pdf - broschyr p + engelska . doc

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Subject: metals cross correlations dear all , i have completed the cross - correlation study for the seven metals we have data for - will complete for gold , silver and cocoa . i have also attached the spreadsheet . correlations based on log - returns , 21 , 42 or 63 business days for either front month only or average of entire futures curve - please see data below or drill into spreadsheet . we can choose the most appropriate time - bucket and whether to use front month or " average of curve " data . regards , anjam x 35383 spreadsheet :

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Subject: joao neves vince , i wanted to follow up with you to see if you had an opportunity to review joao neves ' resume , which i sent ? you last wednesday , and to get your feedback on him . ? please ? let me know if you are interested in ? setting up an interview . ? also , i will be in houston the afternoon of ? friday , 4 / 13 , and would welcome the opportunity to meet with you in person , if your schedule allows . ? ? i look forward to hearing from you . ? regards , ? kate szablya power brokers , llc energy search and recruitment 303 - 716 - 2987 303 - 619 - 7589 cell 303 - 716 - 3426 fax kate @ powerbrokersllc . com www . powerbrokersllc . com ? ?

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Subject: re : credit . com cv ' s shirley , how are we doing on bringibg these people to houston for an interview ? vince - - - - - - - - - - - - - - - - - - - - - - forwarded by vince j kaminski / hou / ect on 05 / 11 / 2000 08 : 20 am - - - - - - - - - - - - - - - - - - - - - - - - - - - bryan seyfried 05 / 10 / 2000 04 : 51 pm to : vince j kaminski / hou / ect @ ect cc : subject : re : credit . com cv ' s vince thanks for helping out . . . . . we really need more dedicated assistance . zak is probably more pure research and his son phil would possibly be on the desk . . . . . let ' s discuss after you have met them . . vince j kaminski 05 / 08 / 2000 10 : 46 pm to : rosalinda resendez / hou / ect @ ect cc : vince j kaminski / hou / ect @ ect , shirley crenshaw / hou / ect @ ect , bryan seyfried / lon / ect @ ect subject : re : credit . com cv ' s rosie , we are making arrangements to bring them to houston for an interview . vince rosalinda resendez 05 / 08 / 2000 11 : 10 am to : vince j kaminski / hou / ect @ ect , shirley crenshaw / hou / ect @ ect cc : subject : credit . com cv ' s vince , i ' ve been asked to forward these resumes to you . rosie - - - - - - - - - - - - - - - - - - - - - - forwarded by rosalinda resendez / hou / ect on 05 / 08 / 2000 11 : 06 am - - - - - - - - - - - - - - - - - - - - - - - - - - - louise bratby 05 / 08 / 2000 10 : 11 am to : rosalinda resendez / hou / ect @ ect cc : subject : credit . com cv ' s rosalinda i work with melanie doyle in london hr . i have two candidates who i ' m trying to arrange ( for bryan seyfried ) to come in and see vince kaminski however i ' m finding it difficult to co - ordinate from this end . would it be possible for you to forward these cv ' s on to vince ' s assistant as i ' m not sure who the correct person is . thanks for your help and if you need more details my number is 44 20 7783 6945 . regards louise

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Subject: re : resume thanks , vince - - vince j kaminski 05 / 22 / 2000 03 : 43 pm to : colleen sullivan / hou / ect @ ect cc : vince j kaminski / hou / ect @ ect , shirley crenshaw / hou / ect @ ect subject : re : resume colleen , we are looking at some fab 133 related issues and we need all the help we can get . we can hire ainsley as a temp ( outside the a & a pool - they closed the list for the summer ) . we shall contact her directly and ask if she is interested . vince p . s . shirley , please set up a phone interview for me and datren . from : colleen sullivan 05 / 19 / 2000 11 : 26 am to : jean mrha / enron communications @ enron communications , robert superty / hou / ect @ ect , jeffrey a shankman / hou / ect @ ect , hunter s shively / hou / ect @ ect , scott neal / hou / ect @ ect , phillip k allen / hou / ect @ ect , fred lagrasta / hou / ect @ ect , craig breslau / hou / ect @ ect , vince j kaminski / hou / ect @ ect , sally beck / hou / ect @ ect , brad mcsherry / hou / ect @ ect , george smith / hou / ect @ ect , edward terry / hou / ect @ ect , katherine l kelly / hou / ect @ ect , randall l gay / hou / ect @ ect , beth perlman / hou / ect @ ect , ed mcmichael / hou / ect @ ect , stephanie miller / corp / enron @ enron cc : subject : resume if you are looking for any summer interns , please take a look at this student ' s resume . she ' s a junior at ut in the honors business program , extremely intelligent , with great potential . my sister was one of her teachers at humble high school and speaks very highly of her character , intelligence and drive . she always tells me to remember her name because i ' ll hear it again some day . if you know of anyone else who may be interested , let me know and i will forward her resume to them . - resume _ gaddis . doc

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Subject: financial maths course , part 2 vince , just in case , here is a draft copy of the event for you to refer to . paul - finmathmail . doc

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Subject: credit risk model comments - at this point . comments from rick jones on the credit reserve model . anita dupont is setting up a meet with rick jones to discuss these . vince & bill - if you want to join the meeting , please let me or anita know . regards , krishna . - - - - - - - - - - - - - - - - - - - - - - forwarded by pinnamaneni krishnarao / hou / ect on 04 / 11 / 2001 09 : 04 am - - - - - - - - - - - - - - - - - - - - - - - - - - - richard b jones @ ees 04 / 10 / 2001 04 : 16 pm to : pinnamaneni krishnarao / hou / ect @ ect cc : subject : credit risk model comments - at this point . - - - - - - - - - - - - - - - - - - - - - - forwarded by richard b jones / hou / ees on 04 / 10 / 2001 04 : 16 pm - - - - - - - - - - - - - - - - - - - - - - - - - - - richard b jones 03 / 23 / 2001 05 : 53 pm to : cheryl lipshutz / hou / ees @ ees , trushar patel / corp / enron @ enron , michelle . wenz @ enron . com , gayle muench / enron @ enronxgate , jeremy blachman / hou / ees @ ees cc : subject : credit risk model comments - at this point . hi everyone , i have run the model and , along with the contract briefs i have some questions the number of trials , numerical roundoff , and random number generator randomness statistical properties . the first two are not a problem in this application but the last one could be . has anyone examined the effect of using different random number generators on enron ' s aggregate credit risk ? 7 ) there is one last point here . for most of the above points , the " improved " analysis could make the credit risk be higher . rick

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Subject: re : transition to research group - an update sounds great - - molly vince j kaminski 01 / 19 / 2001 06 : 21 pm to : molly magee / hou / ect @ ect cc : vince j kaminski / hou / ect @ ect subject : re : transition to research group - an update molly , thanks . let ' s wait for sandeep : he comes back wednesday . anshuman will work with him . vince enron north america corp . from : molly magee 01 / 19 / 2001 06 : 08 pm to : margaret daffin / hou / ect @ ect cc : vince j kaminski / hou / ect @ ect subject : re : transition to research group - an update once again , margaret , we are in your debt . vince , let ' s get together some time next week and see where you would like us to go with this . . . molly margaret daffin 01 / 19 / 2001 03 : 27 pm to : molly magee / hou / ect @ ect cc : vince j kaminski / hou / ect @ ect subject : re : transition to research group - an update molly : just to be sure that everyone understands , anshuman cannot work in the us on a bl visa - he can only come here for business meetings and training . we will have to get him the ll visa in order for him to work in the us . margaret enron north america corp . from : molly magee 01 / 19 / 2001 02 : 53 pm to : vince j kaminski / hou / ect @ ect cc : margaret daffin / hou / ect @ ect subject : re : transition to research group - an update thank you so much for the information , vince . i hope that you have a great weekend ! molly vince j kaminski 01 / 19 / 2001 02 : 39 pm to : molly magee / hou / ect @ ect cc : vince j kaminski / hou / ect @ ect subject : re : transition to research group - an update molly , i shall ask sandeep to do it when he comes back from india next week . i have just learned that anshuman has bl visa and he can start on a project as a person delegated by dhabol power company to houston . to be absolutely above the line , i would still arrange the ll visa . vince enron north america corp . from : molly magee 01 / 19 / 2001 10 : 44 am to : vince j kaminski / hou / ect @ ect cc : margaret daffin / hou / ect @ ect subject : re : transition to research group - an update i agree that it makes sense to put the ll in place . there are several things we will need from you in order to start the visa process . the first is a fairly detailed job description for anshuman . secondly , we also need to know whether or not he will be in a managerial position here and / or managing a project . if there is someone else in your group who can furnish this job description , just let me know and i will be happy to contact him / her . as for sandeep , i have been told that he is a u . s . resident so there should be no problems with him . margaret daffin will be contacting him to be absolutely sure . thanks , molly vince j kaminski 01 / 19 / 2001 10 : 21 am to : molly magee / hou / ect @ ect cc : vince j kaminski / hou / ect @ ect subject : re : transition to research group - an update molly , let ' s get ll for anshuman , just in case . i am sure he will stay here for a while once he comes . it is quite obvious jeff shankman will have to keep him longer , given the priority of the project . i assume there are no problems with sandeep . thanks . vince enron north america corp . from : molly magee 01 / 19 / 2001 09 : 54 am to : vince j kaminski / hou / ect @ ect cc : margaret daffin / hou / ect @ ect subject : re : transition to research group - an update thank you for the update , vince . i have been working with margaret daffin with regard to anshuman ' s visa status . we will have to get an ll visa in place before he can come to the united states , even in a temporary capacity . do you want to move forward with that effort at this time , or is the possibility of him coming to the u . s . so remote that it wouldn ' t be worth the time and money right now ? molly vince j kaminski 01 / 19 / 2001 09 : 42 am to : molly magee / hou / ect @ ect cc : vince j kaminski / hou / ect @ ect subject : transition to research group - an update molly , this is an update on anshuman . please , see below . it seems that his transfer is not an issue for the time being . we can put it on a back - burner till he gets here . vince p . s . the relevant section . i also spoke about anshuman , and there was resistance to his leaing for such a long time . however , i have agreement from folks here to send him to houston for a shorter stint on dpc budget . i will try to finalize that before i leave . i will call you in the evening to just chat . - - - - - - - - - - - - - - - - - - - - - - forwarded by vince j kaminski / hou / ect on 01 / 19 / 2001 09 : 45 am - - - - - - - - - - - - - - - - - - - - - - - - - - - sandeep kohli @ enron _ development 01 / 19 / 2001 04 : 32 am to : vince j kaminski @ ect cc : subject : transition to research group - an update vince , just wanted to let you know that i had a meeting with wade cline ( coo , enron india ) , neil mcgregor ( president , dpc ) , and mohan gurunath ( cfo , dpc ) today . though i had already spoken to all of them earlier about my joining your group , today it became official , and all of them supported the move . i explained to them what we would be doing , and the results expected from the henwood study . dpc would like to pay the costs for the study , and that was mentioned . there maybe some tax issues etc . that need to be cleared , and other related issues that i would like to discuss with you , so i will leave them till i get to houston . i also spoke about anshuman , and there was resistance to his leaing for such a long time . however , i have agreement from folks here to send him to houston for a shorter stint on dpc budget . i will try to finalize that before i leave . i will call you in the evening to just chat . i am very thankful to you for giving the opportunity you have . things here have deteriorated dramatically over the last few weeks . morale is quite down due to many lay - offs . i am really looking forward to returning to houston , and the family ! ! regards , sandeep .

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Subject: li sun vince , i am so glad that your meeting went well with li yesterday . this is a confirmation email to let everyone know that li sun will begin in vince ' s organization on monday , august 28 th . if you have any questions , please let me know . thanks . - - - - - - - - - - - - - - - - - - - - - - forwarded by jana giovannini / hou / ect on 08 / 23 / 2000 10 : 00 am - - - - - - - - - - - - - - - - - - - - - - - - - - - from : jana giovannini 08 / 21 / 2000 01 : 25 pm to : vince j kaminski / hou / ect @ ect cc : john j lavorato / corp / enron @ enron , jeffrey a shankman / hou / ect @ ect , hunter s shively / hou / ect @ ect , shelly butler / hou / ect @ ect , ina rangel / hou / ect @ ect subject : li sun vince , thanks for your response . apparently , we were under the incorrect impression that your group would be taking li ( based on jeff ' s note below ) . we apologize for not contacting you last friday to confirm prior to " placing " li in your group . i have faxed li ' s resume to you and hope that you will have time to review it today . please call me back as soon as you can to discuss li ' s opportunities in your group . if vince is not interested in li for his group , we will consider li placed in ena - gas trading ( original placement ) in john lavorato ' s organization . once i hear from vince one way or the other , the program will consider li ' s placement final in either research or ena - gas trading . hopefully this will be resolved by tuesday morning so that we may communicate to li her rotation information . if you have any questions , please let me know . thank you ! vince j kaminski 08 / 21 / 2000 01 : 03 pm to : jana giovannini / hou / ect @ ect cc : subject : re : vikas dwivedi fyi vince - - - - - - - - - - - - - - - - - - - - - - forwarded by vince j kaminski / hou / ect on 08 / 21 / 2000 01 : 08 pm - - - - - - - - - - - - - - - - - - - - - - - - - - - vince j kaminski 08 / 21 / 2000 12 : 58 pm to : shelly butler / hou / ect @ ect cc : john j lavorato / corp / enron @ enron , jeffrey a shankman / hou / ect @ ect , hunter s shively / hou / ect @ ect , vince j kaminski / hou / ect @ ect subject : re : vikas dwivedi shelly , i shall not accept anybody for a rotation without a prior interview . li was scheduled to meet with me last thursday but she never showed up . she did not call to cancel or to apologize for not showing up . i have not seen her resume . please , assume she is not rotating into my group till further notice . vince from : shelly butler 08 / 18 / 2000 03 : 37 pm to : jeffrey a shankman / hou / ect @ ect cc : hunter s shively / hou / ect @ ect , john j lavorato / corp / enron @ enron , vince j kaminski / hou / ect @ ect , craig breslau / hou / ect @ ect , ina rangel / hou / ect @ ect subject : vikas dwivedi jeff , just wanted to confirm that li will be placed in vince kaminski ' s group . vikas has been placed in ena middle market reporting to craig breslau . please contact me at 3 - 4584 if you have any questions . thanks for your help ! ! shelly from : jeffrey a shankman 08 / 18 / 2000 03 : 18 pm to : shelly butler / hou / ect @ ect cc : hunter s shively / hou / ect @ ect , john j lavorato / corp / enron @ enron subject : shelly , hunter spoke with li today and agrees that her first rotation should be in vince ' s group doing modelling , etc . this will give her the broadest experience for a first rotation . i ' m sure the other person in question , vikas , will do very well in hunter ' s group . thanks for your help . jeff

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Subject: re : reminder thanks . i downloaded a lot of stuff from the hbs site including cases , etc . looking forward to working with you . at 03 : 15 pm 7 / 31 / 00 - 0500 , you wrote : > > > john , > > my new e - mail address is vkamins @ enron . com . > > i am compiling the information for you . i should be able to send it in a few > days . > > vince > > > > > > " john d . martin " on 07 / 28 / 2000 02 : 41 : 42 pm > > to : stinson gibner / hou / ect @ ect , vince j kaminski / hou / ect @ ect > cc : > subject : reminder > > > > stinson ( and vince - - don ' t think your e - mail address is correct ) > > this is just a reminder about the " care package " of enron cases and > materials that you guys were going to send to me . > > stinson , please convey this request on to vince because i think the e - mail > address i have is an old one . > > thanks and have a great weekend . > > john > john d . martin > carr p . collins chair in finance > finance department > baylor university > po box 98004 > waco , tx 76798 > 254 - 710 - 4473 ( office ) > 254 - 710 - 1092 ( fax ) > j _ martin @ baylor . edu > web : http : / / hsb . baylor . edu / html / martinj / home . html > > > > john d . martin carr p . collins chair in finance finance department baylor university po box 98004 waco , tx 76798 254 - 710 - 4473 ( office ) 254 - 710 - 1092 ( fax ) j _ martin @ baylor . edu web : http : / / hsb . baylor . edu / html / martinj / home . html

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Subject: re : 2001 headcount information dawn : here it is ! dawn derr @ enron 07 / 07 / 2000 10 : 45 am to : shirley crenshaw / hou / ect @ ect cc : subject : re : 2001 headcount information shirley , get it to me as soon as you can . thanks . dawn shirley crenshaw @ ect 07 / 07 / 2000 09 : 11 am to : dawn derr / corp / enron @ enron cc : subject : re : 2001 headcount information dawn : i apologize , i have not been able to pin vince down . however , he did take it with him this morning ( he will be in prc meetings all day . ) and i told him \ you needed it yesterday . i hope it is not too late . let me know . thanks shirley dawn derr @ enron 07 / 05 / 2000 04 : 09 pm to : shirley crenshaw / hou / ect @ ect cc : subject : 2001 headcount information shirley , i need the headcount information for vince ' s group no later than thursday , july 6 . let me know if this is a problem . dawn

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Subject: re : real options presentation thanks for the comments grant . the presentation is for a couple of external conferences that vince volunteered me for - vince has ok ' d the content , and stinson raised exactly the same issues as you . unfortunately i just don ' t seem to be getting any response from risk whatsoever on the publication of my article , so these conferences will be the public debut for my real options notation . of course the discounting / risk neutrality thing is where the real judgement sits . when questions arise i ' ll take the line that while research formulates the models using appropriate derivatives / market based valuation methods , we work with our rac group which considers the discounting to be associated with various risks , and chooses these rates appropriately . the notation makes clear which uncertainties we are exposed to at different stages of the deals , which assists in choosing the rates . in practice i ' m not yet at the stage where originators are using my notation yet - another reason i can ' t say too much about its actual use at the conference . i ' m producing various tools for deterministic hydro optimization , gbm swing option valuation , and deterministic dp optimization for genset dispatch which people want right now - i ' m working in the background on the kind of modelling my notation demands . people are getting to know me as a guy who can solve their immediate problems , and they ' ll be more likely to listen when i start rolling out the " proper " options - based models . my notation is currently used only in the specs i ' m writing for the tools i ' m producing . i ' ll be turning dale ' s spreadsheet - based power plant spread model into an american monte carlo tool , which will then be available for inclusion in other models . i think by the end of the summer the real options theoretical work will start to bear fruit , one year after i initially proposed the notation . with the quant it group i ' m co - creating in place , i may yet see the automated diagramming / pricing tool made real . thanks also for the pointer to tom halliburton . the use of the lingo lp / integer package is something i ' ve been presented with for the teesside plant operation optimizer , rather than something i chose . the perm ( physical energy risk mgt ) group just got a couple of analysts to hack it together ( including natasha danilochkina ) , then asked me to tidy it up when it didn ' t work . they are going to use their existing faulty model for now ( to meet their project deadlines ) , and i ' m sketching out a proper mathematical spec for the problem . i ' ve persuaded ( ! ) them that this sort of business - critical system should be developed properly by research , and they now seem happy to fall into line . their wilton plant optimizer was developed by one peter morawitz , the guy i hoped to recruit into research , and they obviously didn ' t realise he was better than average at quantitative modelling . anyway they now accept that doing it properly will take months rather than weeks , and i ' ll have a freer hand in my choice of modelling tool - so a chat with tom would be extremely valuable . cheers , steve enron capital is this an internal enron or external presentation ? if external , i would say it is just at the limit before sliding into proprietary stuff . perhaps that ' s why you ' ve neatly almost entirely avoided questions about discounting and risk - neutrality or lack of it ? regards , grant .

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Subject: meeting confirmation / discussion points fyi . - - - - - - - - - - - - - - - - - - - - - - forwarded by pinnamaneni krishnarao / hou / ect on 08 / 03 / 2000 08 : 16 am - - - - - - - - - - - - - - - - - - - - - - - - - - - david foti @ ees 08 / 02 / 2000 05 : 06 pm to : pinnamaneni krishnarao / hou / ect @ ect , minal dalia / hou / ees @ ees , sanjay agarwal / hou / ees @ ees , naveen andrews / corp / enron @ enron cc : scott stoness / hou / ees @ ees subject : meeting confirmation / discussion points tariff var project kick - off meeting time : 8 / 3 ; 2 - 3 pm location : eb 612 = = = = = = = = = = = = = per the 8 / 2 lunch meeting between research , rac , and the tariff group , there developed a consensus to : develop a high level value - at - risk model within a 4 - 8 week time frame to use for initial risk measurement and hedging purposes accommodate links for critical variables such as interest rates , load growth , and inflation provide " knobs " for less quantifiable factors such as rate case frequency , rate methodology , etc . collaborate with the tariff forecasting team , to have consistent assumptions and logic . proposed agenda for our meeting : discuss the relationship of this project to other ongoing projects review existing t & d forecast model ( decide whether it ' s a starting point or not - attached for your review ) discuss approach ( methodology and technology ) assign responsibilities develop project guidelines and timeline see worksheets , " diagram " , " graph " , " exposure "

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Subject: risk bucketing for p / l ken and greg , what we have been doing is absoutely fine under the assumption that the market conditions move relatively small ( where taylor series has fast convergence ) . however , we could run into troubles when the market has a big move . in order to have a error proof bucketing , we can use the following method ( finite - difference ) , let me know what you guys think how to implement it to the transport book . sensitivity to risk parameters , or p / l attribution by risk bucket : today ' s premium = premium based on today ' s curves last day ' s premium = premium based on last day ' s curves change due to deliverycurveshift = [ premium based on today ' s delivery price and last day ' s receipt price , volatilities , interest rate , last ' s time to expiration etc ] - last day ' s premium - today ' s change due to gammal receiptcurveshift = [ premium based on today ' s receipt price and last day ' s everything else ] - last day ' s premium - today ' s change due to gamma 2 vegal = [ premium based on today ' s delivery volatility and last day ' s everything else ] - last day ' s premium vega 2 = as above for gas volatility rho = as above for interest rate eta = as above for correlation theta = { [ premium based on today ' s days to expiration and last day ' s everything else ] - drift - last day ' s premium } / 365 . 25 [ this is a daily theta . the sprdopt function returns an annualised theta . ] gammal = 0 . 5 last day ' s gammal ' * priceshiftl 2 ? ? gamma 2 = 0 . 5 last day ' s gamma 2 ' * priceshift 2 2 drift = [ ( exp ( last day ' s interest rate * ( today - last days ) / 365 . 25 ) ) - 1 ] * last day ' s premium priceshiftl = today ' s delivery price - last day ' s delivery price priceshift 2 = today ' s receipt price - last day ' s receipt price gammal ' = theoretical gammal , i . e . gamma from spread option gamma 2 ' = theoretical gamma 2 , i . e . gamma from spread option calculation liquidation = premium of option which expired the day before , i . e . intrinsic value .

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Subject: ibuyit form attached please find the completed form for vince kaminski , managing director , research group . he will be approving all purchases for cost center 107043 . - - - - - - - - - - - - - - - - - - - - - - forwarded by shirley crenshaw / hou / ect on 04 / 19 / 2001 02 : 58 pm - - - - - - - - - - - - - - - - - - - - - - - - - - - from : debbie skinner / enron @ enronxgate on 04 / 19 / 2001 02 : 52 pm to : shirley crenshaw / houston / eott @ eott , shirley crenshaw / hou / ect @ ect cc : subject : ibuyit form hi shirley there were two shirleys , so sending to both isc help desk

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Subject: wharton risk center advisory committee meeting - june 14 , 2001 to : advisory committee members from : paul r . kleindorfer howard kunreuther date : march 12 , 2001 subject : our next advisory committee meeting just to let you know that our next advisory committee meeting will be on thursday , june 14 , 2001 . we will be sending the agenda and more details in late march or early april . the principal theme of this meeting of the advisory committee will be " markets and regulation for efficient risk management " . we would appreciate your letting theresa convery know your attendance by returning a completed response form ( copy attached ) via fax or email as soon as possible . fax : ( 215 ) 573 - 2130 phone : ( 215 ) 898 - 5688 email : tconvery @ wharton . upenn . edu > ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ theresa convery administrative assistant risk and decision processes center the wharton school of the university of pennsylvania ( 215 ) 898 - 5688 / fax : ( 215 ) 573 - 2130 tconvery @ wharton . upenn . edu - response form . doc

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Subject: re : real time var tanya , thank you for the information . i agree that we need to talk about more what and how global valuation can facilitate a more competitive var engine . winston and nilay are going to give my group a presentation regarding the current var system next tuesday . i am sure the presentation will help my team better understand the requirements of var engine on global valuation . please join us if you have the time . i would also appreciate your insight on this matter . thanks zhiyong tanya tamarchenko 01 / 08 / 2001 11 : 09 am to : zhiyong wei / hou / ect @ ect , nilay basu / hou / ect @ ect , wenyao jia / hou / ect @ ect cc : vince j kaminski / hou / ect @ ect subject : re : real time var ziyong , we met with nilay and winston last week regarding real time var calculation possibility . winston has an overview of var system which consists of : - main curves simulation ; - curve server ; - book server ; - id server - clients as a first step i want to see where the time is spent when var runs , which percentages of time are spent by each part . nilay is going to get this information for a few portfolios ( agg - ect , agg - gas and ng - price - prc ) . preliminary information : currently var run takes about 1 hour , half of this time taken by " book server " ( we have about 4500 lower level portfolios in the portfolio hierarchy , about 5500 portfolios all together ) , most of the rest is taken by " clients " , " main curves simulation " does not take much time . i am looking also at using alternative methods of faster var calculation , but having so many portfolios in the hierarchy will slow down even analytical var . we also have to think more about what " real time " calculation means and what it should produce . tanya

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Subject: access on the block : international transmission auctions - cera a lert - december 20 , 2000 title : access on the block : international transmission auctions are opening european power markets e - mail category : cera insight cera knowledge area : european power despite an apparent impasse in negotiations among european transmission system operators , regulators , and the european commission in florence , auctions of international transmission capacity ( itc ) in france , the united kingdom , denmark , belgium , italy , austria , switzerland , slovenia , and the netherlands are opening access between countries and paving the way for the single european marketplace . however , the patchwork auctioning of access to itc leaves important issues unresolved . the most significant of these include the potential for gaming , third - party transit , and the allocation of auction proceeds . as they stand , these issues , cera believes , are likely to lead to action at the european level and the eventual imposition of a more integrated scheme . nevertheless , current plans to open most of europe ' s itc represent a watershed of activity that will hasten transparency in the market and determine trade flows and signal transmission investment in 2001 . international auctions are opening markets a major portion of international transmission capacity on the continent will be allocated by auction in 2001 ( see table 1 ) . in cera ' s view auctions for itc are likely to have the greatest impact during 2001 in the following areas : * increasing market transparency . the posting of available transmission capacity on yearly , monthly , and daily bases will facilitate the market ' s efficient usage of scarce interconnector capacity . for the first time , signals for new transmission investment , power flows , and transmission asset valuation will come from the market . * increasing cross - border trade . although auctions may not reduce uncertainty in the marketplace initially , the effect of heightened transparency in access rules and prices will soon work to increase trade . secondary markets for interconnector capacity will add to the number of actively traded power products and work to increase the overall level of trade . ? * increasing price correlation . auctions will replace nonmarket - based allocation methods such as long - term capacity reservation . the dynamic character of shorter - term auctions , combined with an expected secondary market for capacity , should bring access to international capacity in line with the needs of the market . in this way the market will be able to adjust more rapidly to changes in local conditions and thereby work to correlate pricing points . * increasing competition . once players have secured access to itc at a given price , they will be looking to sign supply contracts or integrate the capacity into structured deals . the result could be more aggressive maneuvering on the part of incumbents and new entrants alike , resulting in greater competition at the national level . * reducing the competitiveness of imports . the results of international transmission capacity auctions will determine the competitiveness of imported power into domestic markets . final prices offered for itc will reflect the relative cost of power between markets and work to make cheaper power more expensive to import . * spurring investment in transmission . the money raised through auction could provide transmission companies with the financial capability to invest in upgrading international transmission links . access to international transmission capacity between the netherlands , germany , and belgium in 2001 was auctioned for 63 million euros ( see http : / / www . tso - auction . org for details ) . ? auctions for access into spain , france , and italy are expected to realize a premium for access to highly coveted markets . connecting rather than integrating markets auctions between national grids , or more accurately commercial grids , are a pragmatic approach to the problem of granting access to scarce international transmission capacity on an open and transparent basis . the auctions will open access to interconnectors and at the same time reward transmission system operators . even so , the proposed approaches are not likely to satisfy market players or the stated objectives of european policymakers . in cera ' s view the following issues may eventually bring down the hammer on itc auctions : * third - party transit . the bilateral nature of itc auctions perpetrates the problem of tariff pancaking and discriminates against trade involving transit through a third grid . this is ultimately inconsistent with the european commission ' s objective of a single european power market . the fact that physical power flows do not follow contractual flows and almost always transit third - party grids further weakens the legitimacy of the approach . * transaction - based scheme . although still transactional in nature ( tied to a specific deal ) , auctions fall within the european commission ' s stated preference for market - based mechanisms for allocating international transmission capacity . it remains to be seen how successful this approach is in achieving integration of national markets . action at the european level could move allocation of itc in the direction of nontransactional mechanisms such as market splitting , counter trading , or redispatching . * gaming of auctions . auctions will in theory allocate access to transmission on a nondiscriminatory market basis to those that value it most . in practice it remains to be seen if gaming can be avoided . even though most of the auctions have placed limits on ownership of transmission capacity , tactical maneuvers could bid up transmission prices as players act to raise the price of imported power . * allocating auction proceeds . one likely outcome of auctions will be the transfer of profits between players as transmission owners recoup some of the rents currently reaped by other players . this will works to raise the value of transmission assets relative to generation , suppliers , or traders . it remains to be seen how funds from auctions will be allocated among transmission companies and the grid , as transmission is still currently subject to monopoly regulation . * * end * * come shoot the rapids with us at ceraweek 2001 , " shooting the rapids : strategies and risks for the energy future " in houston , february 12 - 16 , 2001 ! ? for more information and to register , please visit http : / / www 20 . cera . com / ceraweek / to make changes to your cera . com account go to : forgot your username and password ? go to : http : / / www 20 . cera . com / client / forgot this electronic message and attachments , if any , contain information from cambridge energy research associates , inc . ( cera ) which is confidential and may be privileged . unauthorized disclosure , copying , distribution or use of the contents of this message or any attachments , in whole or in part , is strictly prohibited . terms of use : http : / / www 20 . cera . com / tos questions / comments : webmaster @ cera . com copyright 2000 . cambridge energy research associates

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Subject: re : from a previous summer intern dear giuseppe : unfortunately , i am no longer with the associate and analyst recruiting department and will be unable to assist you directly . please contact tracy warner , who is now responsible for recruiting . she will be able to assist you directly . tracy can be contacted at tracy . warner @ enron . com . i would also recommend having vince kaminski contact her as well to ensure that all communications are in order . best regards , celeste roberts giuseppe andrea paleologo @ stanford . edu on 04 / 20 / 2001 01 : 53 : 39 pm please respond to gappy @ stanford . edu sent by : gappy @ stanford . edu to : celeste roberts cc : subject : from a previous summer intern celeste , my name is giuseppe a . paleologo and you amy remember me : i was a summer intern last summer in the research group , and attended the hiring event this year at stanford . in that occasion i had an informal offer from vince kaminski , and the assurance that i would receive a written one in the following two weeks , but since then i have not received any letter from enron . i would like to know if the offer is still valid , and if it has been sent . i am asking because i am in the process of evaluating my offers , and would like to wait for enron before i make my final decision . thanks in advance , giuseppe paleologo - - giuseppe a . paleologo email : gappy @ stanford . edu office phone : ( 650 ) 725 - 0541

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Subject: re : loan pc charlotte , i confirmed today with your colleague stuart at x 34073 and he arranged for the cpu to be removed . please call me if you have any questions . thanks ! martina x 34327 vince j kaminski 24 / 02 / 2000 15 : 28 to : charlotte baldock / lon / ect @ ect cc : vince j kaminski / hou / ect @ ect , anjam ahmad / lon / ect @ ect , martina angelova / lon / ect @ ect subject : re : loan pc charlotte , i am back in houston . please , contact anjam ahmad and / or martina angelova . they will be able to help you . vince kaminski charlotte baldock 02 / 24 / 2000 05 : 22 am to : vince j kaminski / hou / ect @ ect cc : subject : loan pc vince can you confirm that you will returning the loan pc to it support today please ? thanks charlotte

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Subject: p . c . what do i need to do in order to get this p . c . early a . m . please let me know . thanks kevin moore very important - - - - - - - - - - - - - - - - - - - - - - forwarded by kevin g moore / hou / ect on 12 / 22 / 99 06 : 30 am - - - - - - - - - - - - - - - - - - - - - - - - - - - kevin g moore 12 / 20 / 99 11 : 28 am to : lyn malina / hou / ect @ ect , shirley crenshaw / hou / ect @ ect , vince j kaminski / hou / ect @ ect , mike a roberts / hou / ect @ ect cc : subject : p . c . we spoke about the p . c . for trisha tlapek . location eb 3132 b . co . # 0011 r . c . 100038 thanks kevin moore x 34710

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Subject: initial collection of research material for your web sites dear sven the packets cover electricity and gas markets and modelling , deregulation & exchanges , weather derivatives and value - at - risk / risk management / case studies . this is by no means final , and i hope to supplement with some more ideas over the next few days . once you have considered the material , i can fine - tune the type of material that is relevant for you and then we can look at starting to put something together , after which we can pass on to mike roberts if you need some simple articles on pricing options or an explanation on how to calculate volatility , then i am sure we can put that together for you . regards , anjam x 35383

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Subject: names bryan , the person from citibank : alla gil , ( 212 ) 723 6275 alla . gil @ ssmb . com i am attaching the resume of iris mack . vince

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Subject: summer internship hi , i ' d like to thank you for the opportunity of letting me work here this summer . i ' ve learned a lot in the past three months and hopefully have been of some help around here . i was very impressed with this department , and enron itself , and i really appreciate the chance for me to have worked in such an environment . so anyway , thank you and i wish you and the department well , brad

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Subject: re : var for metals ted , anjam ' s and myself ' s meeting at mg in ny office on 7 / 20 / 00 was productive . i am working on a summary of this discussions ( 1 a version layout ) and will send it to you after consulting with anjam . regards , tanya .

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Subject: re : uk portfolios and books setup in risktrac tanya , we have checked the risktrac system and ( 1 ) the spreadoption , and other , mappings in risktrac are correct . ie , els 1 b has both power ( ppp ) and gas ( nbp ) and the deltas / gammas tie out . the lolp and smp mappings all tie out . ( 2 ) however , the uk power in risktrac has 25 twh more of power . this has something to do with the enpower - risktrac communication . ( 3 ) uk - gas positions tie out in aggregate ( off by a single bcf ) for var discrepancies , other than positions , the following will contrbute ( 1 ) in risktrac power is mapped to r 4 ( cinergy ) while in the spreadsheet it is us - ng . ( 2 ) gas - power and efa - efa correlations are different . matthew is coordinating with oliver and london it to resolve the position issues . naveen tanya tamarchenko @ ect 01 / 03 / 2001 02 : 09 pm to : naveen andrews / corp / enron @ enron , matthew adams / corp / enron @ enron cc : rabi de / na / enron @ enron , jaesoo lew / na / enron @ enron , vince j kaminski / hou / ect @ ect subject : re : uk portfolios and books setup in risktrac naveen and matthew , i started looking systematically through uk positions and corresponding var numbers in the risckrac . i found a few inconsistencies so far . 1 . the portfolio elsb 1 - nbp has a book elsb 1 under it . the sum of delta positions for this book is 239 , 021 , 655 , the sum of gamma positions is - 211 , 031 , 450 . var for the portfolio elsb 1 - nbp is zero . the same refers to a few other portfolios , for example elsb 2 - nbp , elsb 3 - nbp , e 2 xxl - nbp . 2 . the portfolio elsbp 1 - ppp also has the book elsb 1 under it . this book contains the positions on pppwdl through pppwd 6 and pppwel through pppwe 4 . the same refers to the other books , for example elsb 2 . this looks messy . can someone in rac go over all the portfolios , all the corresponding books and curves in risktrac and make sure they are set up properly ? thank you , tanya .

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Subject: confirmation of your order this is an automatic confirmation of the order you have placed using it central . request number : ecth - 4 qqqzj order for : maureen raymond 1 x ( compaq armada m 700 $ 3522 ) enron it purchasing

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Subject: your riskmetrics site password dear kaminski , thank you for registering . your requested username is polonia and your password is riskdata . you may use this login to : - access picture of risk at http : / / www . riskmetrics . com / por / index . cgi - use the longrun forecast engine at - use the data directory at http : / / www . riskmetrics . com / data / view / index . cgi - access the creditmetrics datasets at - access the riskmetrics datasets at - read our technical documents at - read our monitors at http : / / www . riskmetrics . com / research / monitors / index . cgi - read the corporatemetrics publications at - read risk management : a practical guide at please let us know if you have any questions or concerns , rmg web services web @ riskmetrics . com

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Subject: do vidzenija ! vince , today is the last day of my internship here this summer . i have had a terrific summer . thank you so much for all of your support ! i have talked with my supervisor from this group and i am pleased that he feels strongly and positively about my performance . of course , my job decision is a very important one for me and as i consider job offers in the upcoming months , a variety of factors will be influencing my choice . certainly one of them will be the positive experiece i have had with enron . but regardless of my decision in future , i am so glad that i have had the opportunity to glimpse into enron ' s business and culture . i have met some amazing people here , and my experience with enron is something i will always take with me whereever i go . i hope to hear from you again . please feel free to contact me at any time . my email remains : vngo @ rice . edu and i will leave shirley my phone number as soon as i know it ! deepest regards , van

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Subject: help on dpc lng options jeff , i fully support sandeep ' s request to move anshuman srivastav to houston . i anticipate that we shall be working on dhabol related issues for the next two years until all the business problems are successfully resolved . anshuman is a very capable employee , with the right combination of skills to attack the dhabol modeling challenge . he understands the indian markets as well as international fuel markets . he has also a very good grasp of power industry fundamentals and of the technology used at the dhabol power plant . vince - - - - - - - - - - - - - - - - - - - - - - forwarded by vince j kaminski / hou / ect on 03 / 12 / 2001 04 : 54 pm - - - - - - - - - - - - - - - - - - - - - - - - - - - sandeep kohli @ enron _ development 03 / 12 / 2001 12 : 40 pm to : vince j kaminski @ ect cc : subject : help on dpc lng options vince , this is a follow - up of our meeting with jeff shankman on friday , as well as our discussions with the global assets group on dpc issues . as you see , there is a need for developing a comprehensive fuel strategy for dpc that encompasses both the lng phase , and the naphtha side . furthermore , any fuel strategy we develop will have to be in consonance with the power side of the business . there is a lot of analytical work that will be required in this context over the next several months , and we will need a person who understands both the power and the fuel side of the business at dpc . i believe anshuman is just such a person . he has worked closely with me over the last 2 yrs . , and has been trained in the derivatives side of the business ( he has attended all three levels of derivatives classes offered at enron ) . over the last month , his presence in houston has greatly helped me in melding the henwood study with the picture on the lng / fuel side . i believe his presence in houston will be critical to us developing a comprehensive fuel / lng strategy for dabhol , together with the global markets and asset groups . i am therefore requesting you to explore the possibility of anshuman being moved on a more permanent basis to houston . as you are aware , anshuman himself would welcome such an arrangement . regards , sandeep .

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Subject: re : fw : enron credit model docs for the comparative model study - to be sent to professor duffie @ stanford iris , we can mention to ben that the papers will be edited and combined into a coherent review . vince from : iris mack / enron @ enronxgate on 04 / 23 / 2001 01 : 49 pm to : vasant shanbhogue / enron @ enronxgate , vince j kaminski / hou / ect @ ect , amitava dhar / corp / enron @ enron cc : subject : fw : enron credit model docs for the comparative model study - to be sent to professor duffie @ stanford hi , attached is a bit of feedback from ben regarding the papers listed below . can you help me out here ? thanks , iris - - - - - original message - - - - - from : parsons , ben sent : monday , april 23 , 2001 3 : 05 am to : mack , iris subject : re : enron credit model docs for the comparative model study - to be sent to professor duffie @ stanford hi iris i would not include paper 8 , as paper 7 supersedes it . also how much rewriting of these papers do you envisage ? some of them are not up - to - date , or were written poorly and under time - pressure , so what do you envisage eventually sending to duffie ? thanks ben from : iris mack / enron @ enronxgate on 21 / 04 / 2001 22 : 30 cdt to : ben parsons / lon / ect @ ect cc : vasant 6525 - 68 daao @ ex @ enronxgate , vince j kaminski / hou / ect @ ect , scott salmon / eu / enron @ enron , bryan seyfried / lon / ect @ ect , nigel price / lon / ect @ ect , tomas valnek / lon / ect @ ect , george albanis / lon / ect @ ect , markus fiala / lon / ect @ ect , craig chaney / enron @ enronxgate , kim detiveaux / enron @ enronxgate , amitava dhar / corp / enron @ enron , tanya tamarchenko / hou / ect @ ect , mike mumford / lon / ect @ ect subject : re : enron credit model docs for the comparative model study - to be sent to professor duffie @ stanford hi ben , i think i have read all the papers that are to be used in the comparative model study to be sent to professor duffie at stanford . these documents are all listed below . please let me know if i have omitted any ( however , don ' t get the impression that i am begging for more papers to read ) . now i will try to transform my notes into a draft for professor duffie . thanks , iris list of papers for comparative model study 1 . actively managing corporate credit risk : new methodologies and instruments for non - financial firms by r . buy , v . kaminski , k . pinnamaneni & v . shanbhogue chapter in a risk book entitled credit derivatives : application for risk management , investment and portfolio optimisation 2 . neural network placement model by george albanis , enroncredit ( 12 / 22 / 00 ) 3 . pricing parent companies and their subsidiaries : model description and data requirements by ben parsons and tomas valnek , research group 4 . a survey of contingent - claims approaches to risky debt valuation by j . bohn www . kmv . com / products / privatefirm . html 5 . the kmv edf credit measure and probabilities of default by m . sellers , o . vasicek & a . levinson www . kmv . com / products / privatefirm . html 6 . riskcalc for private companies : moody ' s default model moody ' s investor service : global credit research 7 . discussion document : asset swap model by ben parsons , research group ( 4 / 20 / 01 ) 8 . asset swap calculator : detailed functional implementation specification ( version 1 . 0 ) by ben parsons , research group 9 . discussion document : live libor bootstrapping model by ben parsons , research group ( 4 / 20 / 01 ) 10 . the modelling behind the fair market curves : including country and industry offsets by nigel m . price , enron credit trading group 11 . pricing portfolios of default swaps : synthetic cbos - moody ' s versus the full monte ( carlo ) by nigel m . price , enron credit trading group 12 . placement model vl . 0 : discussion document by ben parsons , research group , 2000 13 . credit pricing methodology - enroncredit . com by ben parsons , research group 14 . correlation : critical measure for calculating profit and loss on synthetic credit portfolios by katherine siig , enron credit group 15 . discussion document : var model for enron credit by ben parsons , research group , ( 1 / 3 / 01 ) 16 . methodology to implement approximate var model for the credit trading portfolio by kirstee hewitt , research group

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