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Enron Mail |
BUSINESS HIGHLIGHTS
Industrial Markets Enron Industrial Markets announced Tuesday, January 30, 2001, that it has= =20 signed a definitive agreement with Daishowa North America Corporation to=20 purchase Daishowa Forest Products Ltd., a holding company for its Quebec=20 City, Canada newsprint mill and related assets. West Power Origination ENA West Power commenced construction on its 225MW Fountain Valley Power=20 Project. The project, located in Colorado Springs, has an 11-year fixed=20 price PPA with Public Service of Colorado and is being funded off-balance= =20 sheet in the Turbopark funding vehicle. The west power origination team= =20 anticipates closing the sale of the project to a third party in the second= =20 quarter. Lumber Origination and Trading From an origination standpoint, the group has executed a number of long-ter= m=20 financial and physical transactions since March 2000. The lumber group has= =20 grown to 10 people including 3 physical/cash lumber traders with a combined= =20 total of 50 years industry experience. Currently they are trading 1500-200= 0=20 transactions per month. Additional cash traders by Q2 will substantially= =20 enhance the cash desk. Financial trading activities include both derivativ= e=20 transactions and a substantial position in the futures market. Increased= =20 liquidity in both financial and physical trading will lead to more structur= ed=20 transactions. Competitive Analysis and Business Controls Enron America's eSource, Enron's premier corporate-wide research group,=20 launched their new intranet product, eSearch, on December 8, 2000. In that= =20 time, there have been over 108,000 hits on the eSearch site. eSource's=20 researchers have assisted hundreds of employees across business units with = a=20 wide variety of projects. We have provided our customers with information= =20 essential to entering a new market: industry analysis and overviews, and=20 insight into the people running a company and their policies. We do whatev= er=20 it takes to help our customer gain a competitive advantage. eSource is promoting various research databases by featuring training=20 sessions and vendor presentations. We are currently working with additional= =20 vendors to bring Enron employees customized sites and additional resources.= =20 Employees can use the web site (http://esource.enron.com) to conduct their= =20 own research or as a vehicle to submit research requests. eSource's=20 researchers and industry specialists are available to all Enron business=20 units to provide timely and cost-efficient research, to work with individua= ls=20 or groups to fulfill one time research requests, or to design ongoing,=20 customized monitoring projects or news updates. Principal Investments The Principal Investments Group completed two investments totaling $14.6=20 million in the fourth quarter of 2000 in the following companies: Tridium, Inc.: a framework, software and services company whose main produc= t=20 is used in the building automation, industrial automation and energy=20 management markets. Enron Energy Services is an important customer and use= s=20 Tridium's Niagara Framework(TM) to remotely monitor and control the energy= =20 infrastructure at over 10,000 client sites. =20 iMedeon, Inc.: a leading provider of web-based workforce commerce solutions= =20 designed to enable and optimize mobile workforce operations, and to make=20 customer service a competitive advantage. The company's product line is us= ed=20 by a wide range of companies engaged in the utility sector, mobile=20 maintenance and repair function, as well as by companies employing large=20 field sales forces. In December 2000, the Principal Investments Group completed the sale of its= =20 minority equity investment. Power Systems Manufacturing LLC, a Boca Raton= ,=20 FL-based company, offers a wide array of design, engineering, manufacturing= =20 and field support services, as well as innovative nozzle, combustion and=20 airfoil technology to owners of industrial gas turbines. Shareholders of= =20 Power Systems Mfg, LLC agreed to sell a majority equity interest in the=20 company to Calpine Corporation. EGM ORGANIZATIONAL ANNOUNCEMENT Crude and Products This group is being re-organized into product lines in order to better focu= s=20 and maximize coverage and increase our market-making abilities. The=20 following individuals leading these groups report directly to John Nowlan. Global Crude Oil Don Schroeder and Bill White will manage our global crude oil books.=20 Distillate Chris Mahoney will have responsibility of all distillate positions.. Global Fuel Oil Niamh Clarke will expand her role managing our global fuel oil and resid=20 positions Global Gasoline and Components Jim Goughary will assume responsibility for our global gasoline and=20 components business.=20 Global LPG Erik Hansen and Adam Gross will be responsible for the development and=20 execution of our global LPG trading and strategy. =20 Petrochemical and Plastics Stuart Bland and Douglas Friedman will be responsible for the continued=20 development and growth of our petrochemical and plastics business.=20 Fuel Management Doug Leach will continue in his role developing our fuel management busines= s=20 as well as other long-term structural transactions.=20 Global Origination Randy Maffett has joined the group to lead, develop and grow all global=20 origination activities for the group. Enron Freight This new group under the leadership of Dan Reck is developing a business in= =20 the inter-modal transportation area in the United States. Shawn Cumberland= =20 has joined this group to lead and expand the origination opportunities in= =20 this business. Global Risk Management Jere Overdyke has elected to leave Enron after almost 10 years of service. = =20 Per Sekse will take over the leadership of this very exciting and growing= =20 business.=20 EGM looks forward to this year and feels the above changes will provide the= =20 focus and momentum we need to deliver a record performance in 2001. Please= =20 congratulate everyone on their new assignments. NUGGETS & NOTES =01&...mark to market and off balance sheet - you're good to go.=018 - R. C= ris=20 Sherman, Vice President ENA Transaction Support "PRC, Bonus, Merits, Project Crane, EIM Europe - Any thing else"?!?!?!? =01= )=20 Fran Mayes- Manager, Human Resources - EIM WELCOME New Hires EGM =01) Chris Mulcahy/Manager-Financial Operations, Herbert Goodwin/Sr.=20 Specialist, Stacy Patton/Analyst Vera Ilyina , Staff/Global Products Risk Group-EGM. Vera is from Moscow,= =20 Russia, and is a 2000 Olympic Diving Champion for the Russian Olympic team.= =20 She is also a 1995 and 2000 World Cup Gold Medallist. LEGAL STUFF The information contained in this newsletter is confidential and proprietar= y=20 to Enron Corp. and its subsidiaries. It is intended for internal use only= =20 and should not be disclosed.
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