CY

These contracts are the CDWR deals that got released over the weekend - I'm glad you have them (I was getting copies from Reliant but I'll wait for yours... it will be really interesting to see how the CDWR deals were done).

 -----Original Message-----
From: 	Yoder, Christian  
Sent:	Monday, June 18, 2001 6:43 PM
To:	Sager, Elizabeth; Hall, Steve C.
Cc:	Belden, Tim
Subject:	Interesting but puzzling development


Elizabeth and Steve, 

Suddenly Jeff Dasovich was on my line telling me he was shipping all of the "released California contracts" up here for quick legal analysis. My first reaction was:  why does Enron have to analyze them?   He is apparently part of a working committee of some sort that is advising the government.  These are the contracts that Davis has held on to so long, but is now releasing, and which will show that he bought high priced power and locked it in for long terms.  Jeff says he is in a room with a bunch of idiots who know nothing about contracts and they are all asking questions about the "out clauses."  He wants us to tell him what the "out clauses" are all about.  Enron never signed a long term deal, so I am wondering what, besides a kind of bizarre curiousity, would have us in that room down there trying to help a bunch of hysterical bureaucrats paw through a foot of legal paper.  

We will get the contracts tomorrow morning and haul them along with us on the plane on the trip down, then talk with Jeff from Houston.  ----cgy