Dan,

Fred has not had much luck with getting attention with this.  This sounds 
like it should be in your (new) group.  Please give Fred a call, I think this 
sounds very interesting and is worth a follow-up.

Mike
---------------------- Forwarded by Mike McConnell/HOU/ECT on 09/06/2000 
01:20 PM ---------------------------
   
	Enron North America Corp.
	
	From:  Fred Philipson @ ENRON                           09/05/2000 03:49 PM
	

To: Louise Kitchen/HOU/ECT@ECT
cc: Allan Sommer/Corp/Enron@Enron, Mike McConnell/HOU/ECT@ECT 
Subject: Air Cargo Capacity Trading at Enron

Hello Louise:

I recently authored a white paper, giving some background on the air cargo 
business for Enron Net Works.  In the paper, I identified the hurdles we 
would need to overcome in order to create a market for trading air cargo 
capacity futures, none of which were deemed insurmountable.  I further 
suggested that Enron could approach this business by leveraging EOL to act as 
a non vessel owning common carrier, trading physical capacity while readying 
the market (and ourselves!) for financial trading.

I am very interested in moving this business idea along here within Net 
Works.  I have some ideas regarding likely industry partners that could move 
us along rather quickly.  I think the logical next step may be to get with 
you or with someone on your staff to begin some dialog with the eventual goal 
of creating a business plan.  Any thoughts?

Thanks!

Fred Philipson
5-9323