Man, I thought it was your job to keep these off-balance-sheet deals clean!  I
thought we had seen the bottom yesterday, but I guess the market is anticipating
additional debt downgrades.  I bought in at $37, and am considering the ol'
Texas double-down - get my average price down to $25 - but even that looks shaky
at the moment.  I trust that you guys will pull through............

What's going on?  Have you hooked up with George at any UT games?  Wonder how
married life is treating him, haven't heard from him.  Haven't  heard from Paul
since our last email, have you?

Take care,
Ern







Gerald.Nemec@enron.com
08/17/2001 03:39 PM

To:   Ernie J Zavaleta/Frito-Lay/US@Frito-Lay
cc:
Subject:  RE: Enron Stock?

I think your on solid ground.  I think the stock will stay down for a
little while until they name those that will join Lay in the office of the
chairman.  We continue to beat earnings estimates, but things like
broadband, Dahbol,  and now Skilling put pressure on the stock.

Not much new going on.  Just hanging out.  Working.  Will be heading to
Austin for the game on Sept 1.  Let's see if the horns can live up to all
the hype.  I have a pair of season tix for all the home games, so I will
let you know when I have an extra for the game.  See if you can't get a
hall pass from your better half.

    -----Original Message-----
   From:   "Zavaleta, Ernie" <Ernie.J.Zavaleta@fritolay.com>@ENRON

[mailto:IMCEANOTES-+22Zavaleta+2C+20Ernie+22+20+3CErnie+2EJ+2EZavaleta+40fritolay+2Ecom+3E+40ENRON@ENRON.com]


   Sent:   Friday, August 17, 2001 2:33 PM
   To:     Nemec, Gerald
   Subject:  Enron Stock?

      I probably should have picked your brain first, but I bought some
   stock today.  I think the punding you guys have taken is getting a
   little
   carried away now.  While there is uncertainty over Skilling leaving, I
   think
   your guys fundamental position is still excellent.  Can't say I bought
   enough to help turn it around, but I hope there are others who feel as I
   do.....................

      Anything new going on?  Pretty much the same ol here.  Just about to
   go into my busy planning period, Sept-Nov, so not looking forward to
   that
   much.  Kids are doing well and two of my three start pre-school next
   week,
   so mama is relieved.

      Take care,
      E






      Gerald.Nemec@enron.com
      03/26/2001 10:14 AM
      To:  Ernie J Zavaleta/Frito-Lay/US@Frito-Lay
      cc:
      Subject:  Re: Any Plans tonight?


      Hey Ernie!  Sorry I didn't get back with you Friday.  I left a
   little
      early, so I must have just missed your message.  Did you guys have a
   good
      time on Friday night?  How is everything going?

      It has actually been thick around here.  Worked several late nights
   last
      week to try and get caught up.  I may have to delay the purchase of
   the new
      car with Enron's stock taking a hit lately.  It did gain some points
   on
      Friday and early today.  Hopefully it keeps it up.

      Talked to George since his wedding?  Haven't heard anything out of
   him
      since.  Probably just overcome by marital bliss.






                          "Zavaleta, Ernie"

                          <Ernie.J.Zavaleta@fri        To:
   Gerald.Nemec@enron.com
                          tolay.com>                   cc:

                                                       Subject:     Any
   Plans tonight?
                          03/23/2001 03:18 PM









           Hey, what's going on?  My brother-in-law and a friend of his
   are
      flying into town tonight?  We're going to head over to Gilians
   (sp?), a
      place that is supposed to be like Dave & Buster's.  We'll prob get
   there at
      about 10:00.  We thought we'd hang there for a while and then head
   to the
      downtown area and find dome kind of bar.  A couple of other friends
   of mine
      from  B-school will be joining us, I thought you might want to as
   well.
      Are
      you game?

           Write back or give me a call H: 281-251-6398, cell:
   281-687-6893.
      I'm leaving work in a few minutes if I don't respond to any email.

           later,
           E




           Gerald.Nemec@enron.com
           02/26/2001 01:39 PM
           To:  Ernie J Zavaleta/Frito-Lay/US@Frito-Lay
           cc:
           Subject:  Re: 2nd Hotel Room Confirmation


           Ernie,  Thanks for taking care of that.   I will probably be
   getting
      into
           Austin earlier than you.  I'll have my cell phone with me.
   (281)
      772-9250.
           If you get into town earlier, give me a call.  Otherwise why
   don't
      you just
           call me at the room when you get to the hotel.   Sounds great,
   we'll
      ride
           over together.  I might bring this girl I have kinda been
   seeing
      with me.
           My latest victim.  We'll see.    I believe that's correct.  The
      wedding is
           at 7.

           Thanks for the Dilliards tip.  I was going to ask about that.

           G






                               Ernie.J.Zavaleta@fr

                               itolay.com                 To:
      gerald.nemec@enron.com
                                                          cc:

                               02/26/2001 12:09 PM        Subject:     2nd
      Hotel Room Confirmation








           Gerald,

           Good news - we were able to get the second room at the same
   $129
      rate.
           Below
           you'll see two separate confirmation numbers - I don't think it
      matters
           which
           one you or I use.  When you check in, just claim one of them.
      They're both
           on
           my card so you can transfer to yours at check-in.

           I'm not sure what time we'll get there since we'll be coming
   from
      SA.  I
           estimate we'll get there at about 5:00 (the wedding is at 7:00
      right?)
           We'll
           actually be traveling to SA on Friday since some of Jill's
   family
      from the
           Valley will be there as well.

           If we're not in contact before then, let's just plan on meeting
   at
      the
           hotel
           sometime between 6:00 and 6:30.  We can drive over to the
   wedding
      together
           from
           there.

           In case you didn't know, they're registered at Dillard's - we
   got
      him a
           gift
           yesterday, still plenty of items on the list.

           E
           ---------------------- Forwarded by Ernie J
   Zavaleta/Frito-Lay/US on
           02/26/2001
           12:03 PM ---------------------------


           Suzanne Mercer <suzannemercer@tramex.com>
           02/26/2001 11:58 AM

           To:   Ernie J Zavaleta/Frito-Lay/US@Frito-Lay
           cc:
           Subject:  2nd Hotel Room Confirmation



            TO: FRITO LAY / PEPSI
                       ERNIE ZAVALETA
                       100 GLENBOROUGH DT
                       SUITE 1200
                       HOUSTON TX 77067

            FOR: ZAVALETA/ERNIE          REF: FRIT-0046000



            HOTEL
            03MAR   AUSTIN            MARRIOTT HOTELS
             SAT                      MARRIOTT AUSTIN CAPITAL
                                      701 EAST 11TH STREET
                                      AUSTIN TX 78701
                                      FONE 512-478-1111
                                      FAX  512-478-3700
                                      1 NIGHT       1 ROOM       OUT-04MAR
                                      LEISURE RATE
                                      RATE-129.00USD PER NIGHT
                                      CANCEL BY 06P DAY OF ARRIVAL
                                      GUARANTEED LATE ARRIVAL
                                      CONFIRMATION 82747164
                                      RQST KING BED NON SMOKING
            HOTEL
                    AUSTIN            MARRIOTT HOTELS
                                      MARRIOTT AUSTIN CAPITAL
                                      701 EAST 11TH STREET
                                      AUSTIN TX 78701
                                      FONE 512-478-1111
                                      FAX  512-478-3700
                                      1 NIGHT       1 ROOM       OUT-04MAR
                                      LEISURE RATE
                                      RATE-129.00USD PER NIGHT
                                      CANCEL BY 06P DAY OF ARRIVAL
                                      GUARANTEED LATE ARRIVAL
                                      CONFIRMATION 82413250
                                      RQT NONSMOKING




            .
            ---------------------  IMPORTANT ----------------------
              AIRLINE SECURITY REQUEST A 60 MINUTES FOR CHECK-IN.
              GOVERNMENT ISSUED PHOTO ID IS REQUIRED BY AIRLINE.
            -------------------------------------------------------
            ----------------- ITINERARY COMMENTS ------------------
            AIRFARES ARE PER PERSON AND SUBJ. TO CHANGE UNTIL TKT/D
               PLEASE REVIEW ITINERARY IMMEDIATELY UPON RECEIPT
            IF YOU HAVE QUESTIONS, CONTACT THE LEISURE TRAVEL
            DEPARTMENT BY EMAIL OR PHONE --
            972-334-5055 OR 800-776-8009, MON-FRI 8A-5P CST, OR
            CONTACT YOUR AIRLINE DIRECT FOR EMERGENCY ASSISTANCE.
            -------------------------------------------------------



















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