296 lines
11 KiB
Plaintext
296 lines
11 KiB
Plaintext
Message-ID: <508341.1075855477065.JavaMail.evans@thyme>
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Date: Thu, 26 Oct 2000 16:00:00 -0700 (PDT)
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From: enron.announcements@enron.com
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To: all_ena_egm_eim@enron.com
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Subject: AmeriFlash
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Mime-Version: 1.0
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Content-Type: text/plain; charset=ANSI_X3.4-1968
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Content-Transfer-Encoding: quoted-printable
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X-From: Enron Announcements
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X-To: All_ENA_EGM_EIM
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X-cc:
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X-bcc:
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X-Folder: \Frank_Ermis_Dec2000\Notes Folders\All documents
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X-Origin: Ermis-F
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X-FileName: fermis.nsf
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NOTE FROM THE EDITORS
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The AmeriFlash Newsletter would like to keep you informed on global wholesa=
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le=20
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news as well, so we have added business highlights from Enron's original=20
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electronic newsletter, GlobalFlash, which was created by Enron Europe.
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"What's on your Mind?"
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If you have ideas or suggestions please forward them to Michelle Vitrella o=
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r=20
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Kathie Grabstald.=20
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FINAL DAY FOR THE PULSE
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Today is the final day to provide feedback through the annual employee surv=
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ey=20
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-- The Pulse. As of Thursday morning, 56.5% of the ENA/EGM/EIM employees=
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=20
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have taken part in the survey, which is an improvement from last year's=20
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participation rate of 49%. However, we are behind the company average and=
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=20
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most of the other business units. Please take a few minutes today to provi=
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de=20
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much needed and confidential comments regarding Enron and your work=20
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environment. The Pulse survey is located on the Enron intranet at=20
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survey.enron.com.
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If you like competition, here is how the ENA/EGM/EIM participation rate=20
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stacks up against the other business units:
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Enron Energy Services 96.88%
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Enron Wind 89.96%
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Enron India 89.47%
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Net Works 77.78%
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EE&CC 73.88%
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NEPCO 64.37%
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Enron South America 63.74%
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Corporate Staff 63.52%
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Company Average 61.10%
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ENA/EGM/EIM 56.50%
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Enron Broadband 55.89%
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ETS (formerly GPG) 55.52%
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Enron Europe 44.36%
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APACHI 29.66%
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Log on to survey.enron.com and make your opinions known. =20
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BUSINESS HIGHLIGHTS
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OIL PRODUCTS
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Congratulations to the US Oil Products Trading Team! On October 4, 2000 th=
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ey=20
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successfully completed a deal with a volume of 2,400,000 barrels with a=20
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Notional Value of $80,640,000. This is the highest Notional Value associat=
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ed=20
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with an EOL trade.
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Kudos again for another great deal. They have done another large=20
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crack-spread, this time for 100,000 barrels per month for calendar 2001. Th=
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is=20
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trade notionally values out at over $40 million and is the second largest=
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=20
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transaction conducted to date on EOL.
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STEEL
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Steel Trading and Origination teams, headed by Greg Hermans and Tim=20
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Battaglia, respectively, have already defined a Hot-Rolled coil financial=
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=20
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product. The contract has been drafted and is currently being discussed wi=
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th=20
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customers.
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Financial Hot Rolled Steel will be posted on EnronOnline, allowing the stee=
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l=20
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industry to hedge their price exposure for the first time in history. The=
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=20
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access to hedging products will help the steel industry manage technicaliti=
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es=20
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and smooth cash flow. Over time, forward price curves with transparent=20
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pricing should allow the steel industry to also benefit from improved acces=
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s=20
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to capital.
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The next challenge will be to educate the steel industry about financial=20
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swaps and derivatives as risk management tools. The $300 billion steel=20
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market should provide an excellent growth opportunity for Enron.
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PRINCIPAL INVESTMENTS
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FuelCell Energy, Inc. recently announced that it has entered into an allian=
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ce=20
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with ENA. FuelCell Energy and Enron will work together to develop and mark=
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et=20
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FuelCell Energy's Direct FuelCellc (DFCc) products. In connection with the=
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=20
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alliance, Enron has invested $5 million in the common stock of FuelCell=20
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Energy. Additionally, FuelCell Energy will issue warrants enabling Enron t=
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o=20
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purchase up to 1.3 million shares of FuelCell Energy common stock. =20
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Fuel cell developer Dais-Analytic Corp. also announced an alliance with ENA=
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. =20
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As part of this alliance, Enron has made an equity investment in=20
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Dais-Analytic and will support market development, distribution and other=
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=20
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field services for Dais-Analytic's fuel cell, humidity control and related=
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=20
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products. =20
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ENA RESEARCH GROUP
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What does the FX and Sovereign Risk Group within ENA=01,s Research Departme=
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nt=20
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do? We provide forecasts of foreign exchange rates as well as revenue and=
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=20
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cost escalators corporate wide for project valuation. We advise the FX and=
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=20
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interest rate desks on Central Bank policies of the G3. In addition, we=20
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provide sovereign risk analysis on countries important to Enron's various=
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=20
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business units upon request, as well as provide services related to the=20
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global macroeconomic outlook. Our sovereign risk analysis is used in the=
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=20
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development of the E-ratings in cooperation with the Risk Assessment and=20
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Control Group. We have recently developed a presentation on =01&Fundamenta=
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ls of=20
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Non-ferrous Metals=018 as well as one on "Sovereign Risk=018. We also advi=
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se the=20
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fundamental analysis group within Enron Global Markets.=20
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What=01,s new from the Country Risk and Foreign Exchange Team? On October 1=
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3th,=20
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2000, we launched a new product called the Enron =01&International Monitor,=
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=018 an=20
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international economic review that will be published each Friday by the FX=
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=20
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and Sovereign Risk Group. The purpose of this product is to inform the=20
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foreign exchange traders as well as management about important internationa=
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l=20
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economic events and their impact on currency and financial markets. Specia=
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l=20
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emphasis is placed on potential central bank policy changes and the impact=
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=20
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these changes have on interest rates and currencies. We also monitor other=
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key markets, with a special focus on oil, and its impact on consumer,=20
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producer and equity prices. The International Monitor can be found on the E=
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NA=01,
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s web site, by accessing=20
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http//ecthou-webcl1.nt.ect.enron.com/research/ForeignExchange/FXMain.htm.
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Please email Leann Walton if you would like to receive the International=20
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Monitor weekly by email, or if you would like us to email you the first two=
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=20
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issues. Visit our web site at http://home.ect.enron.com/ - Select=20
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Departments / Research. You will find also many useful links to other web=
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=20
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sites here relevant to Enron=01,s businesses.
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NEWS FROM GLOBALFLASH
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Enron Launches Financial Plastics & Petrochemicals Derivatives on EnronOnli=
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ne
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Enron is to start trading a new range of financial swap contracts for the=
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=20
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plastics and petrochemicals industry on www.enrononline.com, the company=01=
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,s=20
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free, real-time Internet-based trading platform. This is the first time tha=
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t=20
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these derivative products, designed to help clients better manage the price=
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=20
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volatility which characterises the multi-billion dollar industry, have been=
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=20
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made available on the Internet in Europe.
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Gas Deliveries in Germany
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Since 1 October 2000, Enron has been the first and only non-incumbent playe=
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r=20
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to be able to serve customers within Germany by delivering gas to three loc=
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al=20
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utilities, those of Heidelberg, T_bingen, and Bensheim. Carsten Haack who=
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=20
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closed the first deal with Heidelberg and was in charge of negotiation of t=
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he=20
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transport did mention that the procedures are still complicated and lengthy=
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=20
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and that the terms and conditions for future agreements will need to be=20
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easier, more transparent and standardised. Helge-J_rgen Beil from the=20
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Frankfurt office who closed the gas deals with the municipalities of T_bing=
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en=20
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and Bensheim said that these deliveries are encouraging but do not guarante=
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e=20
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the future yet. Another positive aspect is that Enron's continental gas=
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=20
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trading team was able to do the first gas trade within Germany with some of=
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the gas Heidelberg contracted for but could not take on.
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Liquid Fuels Group Launches Tanker Freight Forwards
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Scott Moncrieff, a director in the group, has with his team introduced tank=
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er=20
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freight forward contracts on to EnronOnline, to offer a standardised hedgin=
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g=20
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contract in today's highly volatile tanker market, currently worth in exces=
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s=20
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of US$ 10 billion per annum.
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And on the Dry-Side......
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Pierre Aury, Chris Connelly and their team introduced a similar on-line=20
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forward freight swap in June and to date, have traded contracts with a=20
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notional value of US$ 8 million, equivalent to 20 million metric tonnes of=
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=20
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combined physical and financial contracts. The routes are from Colombia a=
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nd=20
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South Africa to Rotterdam, which are key routes for coal transport.
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WELCOME
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Transferred Into ENA/EIM/EGM
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ENA =01) Johnny R. Palmer/Staffing Resources, Anna Briggs/Principal Investi=
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ng,=20
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Carol Coats/Human Resources
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EGM =01) Andrea Hauser/US-GP Products Trading
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New Hires ENA/EIM/EGM
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ENA =01) David Jones/East Origination, Marnie Lamb/Merchant Finance, Mathew=
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-Joy=20
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Noveena/Tax, Reynaldo Romero/Gas Assets Oper Mgmt, Mary Symes/West=20
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Origination-Portland=20
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EGM =01) Brad Lawson/Financial Operations, Sandeep Ramachandran/Weather Tra=
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ding
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IN THE NEWS
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=01&Enron delivered very strong earnings growth again this quarter, further=
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demonstrating the leading market positions in each of our major businesses,=
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=018=20
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said Kenneth L. Lay, chairman and CEO of Enron. =01&Our wholesale and retai=
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l=20
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energy businesses have achieved record-setting levels of physical deliverie=
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s,=20
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contract originations and profitability. We operate in some of the largest=
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and fastest growing markets in the world, and we are very optimistic about=
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the continued strong outlook for our company.=018 --- from Enron's 3rd Qua=
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rter=20
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Earnings Press Release
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NUGGETS & NOTES
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=01&I=01,m looking for some high velocity capital.=018 - Brian Redmond,=
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President/HPL, Managing Director/Assets/Upstream Origination-ENA
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=01&Can I get this NOW?=018 - Gary Hickerson, Managing Director/Equity Trad=
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ing-EGM
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"I like the innovative ways that Enron does things. They take a refreshing=
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approach to the stagnant steel industry." - Kevin O'Donnell, Director/Steel=
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Trading
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CONTEST
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The cut off date for The Name This Newsletter Contest is Friday, November 3=
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. =20
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Keep the ideas coming!
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TEASER
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In your cellar there are three light switches in the OFF position. Each=20
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switch controls 1 of 3 light bulbs on the floor above. You may move any of=
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=20
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the switches but you may only go upstairs to inspect the bulbs one time. H=
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ow=20
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can you determine the switch for each bulb with one inspection? Please send=
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=20
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answers to michelle.vitrella@enron.com, the winner will receive AMC Movie=
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=20
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passes. |