Message-ID: <24243682.1075851646535.JavaMail.evans@thyme> Date: Mon, 24 Sep 2001 06:29:36 -0700 (PDT) From: m..schmidt@enron.com Subject: Enron Mentions - 09/22/01 - 09/24/01 Mime-Version: 1.0 Content-Type: text/plain; charset=ANSI_X3.4-1968 Content-Transfer-Encoding: 7bit X-From: Schmidt, Ann M. X-To: X-cc: X-bcc: X-Folder: \Dasovich, Jeff (Non-Privileged)\Dasovich, Jeff\Inbox X-Origin: DASOVICH-J X-FileName: Dasovich, Jeff (Non-Privileged).pst INDIAN GOVT DISMISSES ENRON THREAT TO CLAIM DAMAGES Asia Pulse, 09/24/01 DPC unable to pay $20 m to lenders The Times of India, 09/24/01 INDIA: Enron gets impatient as Indian unit's row lingers. Reuters English News Service, 09/24/01 UK: Big oil, Gulf states press ahead on major deals. Reuters English News Service, 09/23/01 India: DPC defaults on interest payments Business Line (The Hindu), 09/23/01 India: NCP meet to discuss Enron? The Hindu, 09/22/01 India: Govt legal team for Enron arbitration quits Business Line (The Hindu), 09/22/01 Net Data Hosting has the potential The Times of India, 09/22/01 Enron probe were watered down at NCP's behest The Times of India, 09/22/01 SC stays encashment of MSEB letter of credit by Dabhol The Times of India, 09/22/01 Bush Proposes Lifting Sanctions on Pakistan KRTBN Knight-Ridder Tribune Business News: The Washington Times - Washington, D.C., 09/22/01 ENRON INDIAN UNIT DEFAULTED ON PAYMENTS; ENERGY San Jose Mercury News, 09/22/01 CONSUMERS WILL SEEK REVIEW OF PGE RATES Portland Oregonian, 09/22/01 INDIAN GOVT DISMISSES ENRON THREAT TO CLAIM DAMAGES 09/24/2001 Asia Pulse (c) Copyright 2001 Asia Pulse PTE Ltd. NEW DELHI, Sept 24 Asia Pulse - The Indian government has dismissed threats by United States-base Enron to claim Rs 240 billion in damages for the cancellation of contracts with the US$2.9 billion Dabhol Power project. "If somebody issues a threat he is not showing the muscle. He is only showing the lack of it," Finance Minister ashwant Sinha told PTI here. Enron Corp. Chairman Kenneth Lay had last week claimed that the liability of the Centre, Maharashtra and State Electricity Board would be US$5 billion in case it terminated the contract. Stating that federal government was not party to the dispute, Sinha said Centre's involvement with project, which is currently involved in a payment dispute with its sole buyer Maharashtra State Electricity Board (MSEB), is limited to counter-guarantee to the 740 MW Phase-I only. "The parties to the dispute are Maharashtra government, its state electricity board (MSEB) and Dabhol Power Company (DPC). Government of India is not party to the dispute. It is involved because of larger national consideration in mind and the fact that we have counter-guaranteed the Ist Phase," he said. Centre's counter-guarantee does not cover 1,444 MW second phase. It (Phase-II) is an agreement between Maharashtra government and the DPC, Sinha said adding "we have tried to bring the warring parties together. Our approach has been more constructive and solution oriented and find a generally acceptable solution to the problem." (PTI) 24-09 1823 Copyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved. DPC unable to pay $20 m to lenders 09/24/2001 The Times of India Copyright (C) 2001 The Times of India; Source: World Reporter (TM) MUMBAI: The U.S. energy major Enron's Dabhol Power Company (DPC) defaulted for the first time towards interest payments of $20 million, for its 1,444 MW phase II due to its international lenders this month. ``The DPC has defaulted on debt obligations for offshore loans pertaining to phase-II,'' company spokesperson said here on Sunday night. He said, the U.S. energy major's payments to the Indian lenders were due end of this month. ``We had asked for additional funds from the FIs, but have not heard from them as yet,'' he said. On September 14, DPC's senior counsel and former Indian finance minister P. Chidambaram had informed the Mumbai high court that the multinational had payment obligations worth $20 m. scheduled for the same day and September 19. Recently, the U.S. energy major had tried to invoke letter of credit (LC) worth Rs 136 crore forwarded to it by its partner, the Maharashtra State Electricity Board. The energy major said it had held the LC in reserve over the last few months for judicious utilisation towards care and preservation of the plant, for repaying principal and interest owing to its lenders, including Indian FIs. ``DPC will now be limited in its ability to continue both debt repayment and asset preservation,'' the spokesperson warned. The IDBI-led Indian FIs have a Rs 6,204 crore exposure to the project which is 96 per cent complete, while that of foreign lenders was up to $444 m. (PTI) Copyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved. INDIA: Enron gets impatient as Indian unit's row lingers. 09/24/2001 Reuters English News Service (C) Reuters Limited 2001. NEW DELHI, Sept 24 (Reuters) - U.S. energy firm Enron Corp sees no early solution to its bitter dispute with a local utility despite an assurance from Prime Minister Atal Behari Vajpayee that New Delhi will step in to resolve the row. The company wrote to Vajpayee more than a month ago with an offer to sell its 65-percent stake in Dabhol Power Co but the federal government has not responded, Enron India spokesman Jimmy Moghal told Reuters on Monday. "It's been more than a month since we have communicated to government authorities and have yet to receive any response." He said Enron Chairman Kenneth Lay had written another letter to New Delhi expressing "disappointment" at the lack of progress. The company wrote to Vajpayee saying a long legal dispute would "raise serious questions about India's image as a safe and relialbe destination for foreign investment", Moghal said. Earlier this month, Vajpayee said the federal government would facilitate a quick solution to Enron's dispute with the Maharashtra State Electricity Board (MSEB), which was the sole buyer of Dabhol's power. But Enron is not optimistic. "Contrary to recent impressions created...regarding a quick resolution of the Dabhol project, little progress has so far been made with, in fact, no proximity to reaching a fair and reasonable solution," it said in the statement. The Times of India said Kenneth Lay wrote in his letter to Vajpayee that foreign investors would doubt the sanctity of contracts signed in India. "Any other foreign investor or lender is going to ask himself why his contract is any more likely to be honoured than ours has been," it quoted Lay as saying. Moghal declined comment on the newspaper report. Enron says India may face $5 billion in liabilities for violating contractual obligations. In May, Enron issued a preliminary notice to MSEB to terminate the contract. That move put in place a six-month deadline for the two to work out differences or the contract would be terminated. The six-month period expires on November 19 after which Enron would decide on issuing a final termination notice. "Consideration will be taken after November 19 whether or not we will move towards final termination, which would then lead to arbitration," Moghal said. The first phase of the $2.9-billion project, with a generating capacity of 740 MW has been idle since May when MSEB stopped buying power. The second phase, which will add 1,444 MW of capacity, is 97-percent complete. Copyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved. UK: Big oil, Gulf states press ahead on major deals. 09/23/2001 Reuters English News Service (C) Reuters Limited 2001. DUBAI, Sept 23 (Reuters) - Western energy firms and Gulf Arab states are motoring on with multi-billion dollar gas investment deals amid concern that the strategic region could turn volatile after hijack attacks on the United States. "Business as usual" is the mantra murmured by all involved in the high-profile Saudi gas initiative, which requires initial investment of some $25 billion to develop the kingdom's massive gas sector, Western and Saudi industry sources said on Sunday. The chorus is much the same on the $3.5 billion Dolphin Energy Ltd (DEL) project to channel Qatari gas to the United Arab Emirates. "Everything is going on as scheduled," said an executive of the Saudi gas scheme. "We're working non-stop towards the next milestone. The kingdom in May selected U.S. firms ExxonMobil, Marathon, Occidental, Phillips and Conoco, France's TotalFinaElf, Britain's BP and Anglo-Dutch major Royal Dutch/Shell to take part in the massive project which ranges from upstream gas exploration to downstream construction of power plants. The kingdom has outlined some terms and conditions for the companies with a view to finalising contracts by the end of the year, industry sources said. The landmark Dolphin deal is also progressing on schedule. Qatar and DEL still are targetting early October for signing of a final production-sharing pact, a DEL spokesman said. And the search for a replacement for U.S.-based Enron Corp which in May pulled out of DEL - majority owned by the UAE's Offsets Group (UOG) - is on track. UOG has invited five international companies to Abu Dhabi from October 6-10 to review the project's technical, commercial aspects with a view to selecting Enron's replacement by year end, the DEL spokesman said. UOG in August shortlisted ExxonMobil, BP, Royal Dutch/Shell, Conoco and Occidental in the contest to take over Enron's 24.5 percent stake in DEL. TotalFinaElf holds the remaining 24.5 percent share. Copyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved. India: DPC defaults on interest payments 09/23/2001 Business Line (The Hindu) Fin. Times Info Ltd-Asia Africa Intel Wire. Business Line (The Hindu) Copyright (C) 2001 Kasturi & Sons Ltd. All Rights Res'd MUMBAI, Sept. 22 ENRON'S Dabhol Power Company has defaulted on interest payments to its foreign lenders. This is the first known default by the company, which has been facing a funds crunch after DPC's sole buyer the Maharashtra State Electricity Board stopped power purchases in May this year. Although the company spokesperson refused to reveal the default amount, DPC's lawyer, Mr P. Chidambaram, had told the Mumbai High Court on September 14 that the company was scheduled to pay $20 million in two installments on September 14 and 19, respectively. "The defaults have occurred for interest payments to offshore lenders for phase two. So far, we have managed to meet interest obligations for phase one through our reserves," said the DPC spokesperson, Mr Jimmy Mogal. The company has been facing a shortage of funds after the MSEB stopped buying power from DPC in May this year after it rescinded the power purchase agreement with the company. Our Bureau Copyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved. India: NCP meet to discuss Enron? Mahesh Vijapurkar 09/22/2001 The Hindu Fin. Times Info Ltd-Asia Africa Intel Wire. The Hindu Copyright (C) 2001 Kasturi & Sons Ltd. All Rights Res'd MUMBAI, SEPT. 21. All the bigwigs of the Nationalist Congress Party, from its leader, Mr. Sharad Pawar, to its MLAs, are meeting at Baramati for a two- day "brainstorming session" to discuss political issues. The "haste" of the Maharashtra Chief Minister, Mr. Vilasrao Deshmukh, and his party in announcing a judicial probe into all aspects of the Enron deal is likely to be discussed. The meeting follows the Deputy Chief Minister, Mr. Chagan Bhujbal's sudden visit to Baramati to brief Mr. Pawar of the nuances of all the Cabinet Ministers when the appointment of a Commission of Inquiry into the Enron deal was approved. All the left-of-centre allies of the NCP had demanded the inquiry. The NCP too was in favour of a probe but thought the timing was injudicious. Its Ministers said so at the Cabinet meeting but were overruled. The NCP, which had initially opposed the probe, fell in line due to the pressure of the Left which increasingly isolated it on the issue. The NCP view was that since the Enron-led consortium, which built and operated the Dabhol Power Company, was simultaneously receiving the Centre's attention for a possible fast-track resolution of disputes which could lead to the exit of the DPC with minimal damage to Maharashtra, the Government need not act in haste. The NCP would have liked the probe announcement to have been made later so that it did not jeopardise the efforts to ensure that the DPC did not take the most convenient option for itself - the arbitration mode - to bill the Maharashtra State Electricity Board $ 5 billion. Mr. Babanrao Pachpute, Maharashtra's NCP chief, now in Baramati for preparatory meetings with Mr. Pawar, told The Hindu over the phone that the agenda was limited to discussing the party's approach to elections to the local bodies. But other sources did not rule out discussion on Enron. Copyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved. India: Govt legal team for Enron arbitration quits 09/22/2001 Business Line (The Hindu) Fin. Times Info Ltd-Asia Africa Intel Wire. Business Line (The Hindu) Copyright (C) 2001 Kasturi & Sons Ltd. All Rights Res'd MUMBAI, Sept. 21 THE team of senior lawyers representing the Maharashtra Government in arbitration proceedings against Enron at the London Court of Arbitration, has walked out of the case citing political pressure and non-cooperation from sections of the State Government. Sources in the State Government, told Business Line, Mr Srihari Aney, senior Advocate Supreme Court of India, Mr Ashutosh Kumbhakoni and Ms Daftari Pereira and Mr Dewan, returned the brief to represent the State at the arbitration proceedings, citing pressures from within the Democratic Front Government in Maharashtra. When contacted, Mr Aney confirmed that he and the team of lawyers had "returned the brief" on September 18. He, however, declined any comment on the reasons behind the resignation. Certain sections of the Democratic Front Government in Maharashtra have allegedly opposed the advice given by the lawyers to file a civil suit against Enron. Filing the suit was considered necessary for strengthening the Government's stand, in case the arbitration ruling favoured Enron. The lawyers, reportedly, wanted to include charges of "fraud, illegality and unconstitutionality" against Enron. "Certain sections" in the Government have opposed this move putting "considerable pressure" on the legal team to drop the allegations. The lawyers were opposed to this as it would weaken the case. After four weeks of hanging fire, the lawyers decided to walk out of the case. Our Bureau Copyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved. Net Data Hosting has the potential GANESH KOLLEGAL 09/22/2001 The Times of India Copyright (C) 2001 The Times of India; Source: World Reporter (TM) BANGALORE: On September 11, not only the US' so called high-tech surveillance was tested and found to be wanting, along with it the Internet was also stretched way beyond its capacity. As US was bleeding after the terrorist attacks and the whole world was scrambling for news updates. The Internet, unable to take the load clogged, and functioned at a snail's pace. Information on any website took ages to get loaded, be it Hotmail, msn, Lycos, Yahoo or sites with India specific content like Indya, Capital markets and who have you. The reason was simple: almost all the sites are hosted on US servers like Exodus, Enron etc. The logical question that arises is, for an Indian audience is there a need to host information, in a remote server in the US. The answer earlier was yes, but not anymore. `` Earlier when the bandwidth allotment was monopolized, and due to lack of customer service, sites were hosted in the US, out of little choice. But the situation has drastically improved since the last couple of years, after opening up of bandwidth,'' says, Jasjit Sawhney, CEO, Net4India, a leading Internet Data Centre (IDC) Company. But for an industry that has been growing at an average of 60 per cent every year and projected to grow at the same rate over the next 4 -5 years its been a hard gring. `` The growth of the IDC sector is directly linked to bandwidth rates, and they are falling at the rate of 30 per cent every year, which is why better value-add services are available,'' adds Sawhney. Further, `` the local hosting of websites will result not only in reduced saving costs by saving uptime taken. It will also balance the existing bandwidth usage between India and the US,'' says Gopi Garge, Consultant, IISc and a Internet Architecture expert. Morgan Stanley Dean Witter research report estimates that the worldwide IDC market will be $101 billion by 2006. Of which $7 billion will come from Asia. If even a 5% of this share is India's then the market will be around Rs. 20,000 crore by 2006. According to IDC, the hosted application market will touch the $ 7.5 bilion by 2004 and Gartner report estimates global hosting business to be $10.2 billon by 2002. Until a sturdy Internet backbone like the IPv6 is put in place for text and multimedia data, it is only better management of hosting, which will help effective utilization of bandwidth. PI> Copyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved. Enron probe were watered down at NCP's behest 09/22/2001 The Times of India Copyright (C) 2001 The Times of India; Source: World Reporter (TM) MUMBAI: The terms of reference for the judicial probe into the Enron project at Dabhol, were watered down by the Vilasrao Deshmukh government at the behest of the Nationalist Congress Party, it is learnt. Sources said the terms of reference approved by the co-ordination committee of the Democratic Front were different from the ones that were finally passed by the cabinet on Wednesday. The Congress pushed for the judicial inquiry into the power purchase agreement(PPA) for the 2144 MW Dabhol power project amidst opposition from the Nationalist Congress Party (NCP). According to sources, senior NCP ministers held a closed-door meeting before attending the crucial cabinet meeting. The coordination committee of the DF had earlier unanimously passed a resolution approving the move to set up a judicial inquiry. The terms of reference was also shown to the coordination committee which insisted that the inquiry include both the phases of the power project set up at Dabhol. Deputy chief minister Chhagan Bhujbal, PWD minister Vijaysinh Mohite Patil, and tribal welfare minister Madhukar Pichad, who belong to the NCP, reportedly asked the government to go slow on the move for the judicial probe since the union government is in the process of trying to sort out the Enron muddle. They pointed out that they were not against the probe as such but did not want to complicate the issue for the government. However, parliamentary affairs minister Rohidas Patil and industries minister Dr Patangrao Kadam of the Congreee backed the probe, contending that the co-ordination committee had already approved it. A senior NCP minister said his party was not opposed to the inclusion of the first phase in the judicial inquiry since it was endorsed by the NCP president Sharad Pawar, who was then chief minister. Rather, he said, it was the Shiv Sena-BJP alliance government which would face the heat of the judicial probe, he suggested. What has actually upset the NCP is the fact that the judicial commission can call all those persons concerned with the signing of the first and second PPA for the Enron project. Notwithstanding opposition from the NCP, Mr Deshmukh had to give in to pressure from the Congress high command and institute a judicial probe. State Congress president Govindrao Adik, who is a staunch opponent of Mr Pawar, had briefed the party high command about the controversial nature of the Enron deal and had favoured an expeditious and comprehensive judicial probe. Though the government has not yet finalised the name of the judge to head the inquiry, Mr Deshmukh has announced that it would be headed by a retired Supreme Court judge. Copyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved. SC stays encashment of MSEB letter of credit by Dabhol 09/22/2001 The Times of India Copyright (C) 2001 The Times of India; Source: World Reporter (TM) NEW DELHI: The Supreme Court on Friday stayed the encashment of Rs 136 crore letter of credit given by the Maharashtra State Electricity Board (MSEB) to US power major Enron-promoted Dabhol Power Company. DPC had invoked the letter from Canara Bank on September 11 accusing the MSEB for non-payment of April dues but it was restrained from encashing the same as MSEB stopped the payment by obtaining an injunction from the Bombay high court. When the MSEB petition came up for hearing, a Bench comprising Justice S P Bharucha, Justice N Santosh Hegde and Justice Y K Sabharwal said the order of the high court restraining Canara Bank from making payments under the letter "shall operate pending further orders". The apex court, however, did not pass any order on the interim application filed by DPC seeking clarification of its August 6 order restraining both parties from altering the status quo pending the high court ruling on the jurisdiction of the Maharashtra Electricity Regulatory Commission (MERC). DPC had justified its decision to invoke the letter, saying care and preservation of the entire project during the ensuing months would be jeopardised as DPC was unable to access and utilise funds available under the letter of credit. Copyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved. Bush Proposes Lifting Sanctions on Pakistan 09/22/2001 KRTBN Knight-Ridder Tribune Business News: The Washington Times - Washington, D.C. Copyright (C) 2001 KRTBN Knight Ridder Tribune Business News; Source: World Reporter (TM) The Bush administration this week told key members of Congress that it will lift sanctions imposed on Pakistan and India after their nuclear tests in 1998, according to sources close to the issue. This step, part of the White House's still-unfolding strategy of using American economic might to foster cooperation with those countries in the new war on terrorism, could come as early as next week. Top State Department officials broke the news to key members of Congress in closed-door briefings over the past two days, according to a House Republican aide. Even before last week's terrorist attacks, the administration had been moving toward closer ties with India, a plan that included ways to ease sanctions. The Treasury Department is also already working to reschedule payments on Pakistan's $600 million in bilateral debt, officials said. Sentiment in Congress is strong to lift the sanctions, especially against Pakistan, now that its president, Gen. Pervez Musharraf, has promised the United States wide-ranging help in rooting out terrorist networks. "We asked the Pakistani government to choose sides and they have chosen to stand with us," Sen. Joseph R. Biden Jr., the Delaware Democrat who heads the Senate Foreign Relations Committee, saidin a statement on Thursday. "I believe that we, in turn, must stand with them." House International Relations Committee Chairman Henry J. Hyde, Illinois Republican, echoed Mr. Biden's comments. "We have to give something to them, and I think the sanctions have outlived their usefulness," he said. At the same time, industry analysts cautioned that the end of the sanctions would not be a bonanza for American exporters, because trade with the two countries is small compared with other nations. "The effects of lifting the sanctions, at least in the short term, will be symbolic," said Roger Majak, a Clinton administration official who helped enforce the sanctions. Both India and Pakistan were hit by U.S. sanctions under the so-called Glenn amendment after they tested nuclear weapons in 1998. The law immediately froze assistance from several agencies that promoted trade and investment with the two countries. The sanctions also compelled the Treasury Department to urge international financial institutions like the World Bank to cut off assistance to both countries. The sanctions also put stringent limits on exports of commercial goods to Pakistan that can also have military uses. Those sanctions sliced into exports of commercial aircraft by the Chicago-based Boeing Co., and construction projects run by Houston-based Enron Corp. Even before 1998, military and foreign aid to Pakistan was banned because of the country's nuclear weapons research. And, additional sanctions were applied in 1999 when Gen. Musharraf overthrew a democratically elected government in a bloodless coup. Action next week is likely to remove the penalties imposed in 1998, something the president can do by executive order, the House aide said. Congressional action would be required to change the other sanctions. Lifting the full range of sanctions could eventually unlock new arms sales to Pakistan. In 1990, the sanctions blocked a shipment of F-16 fighter jets that Pakistan paid for, but never received. "The pressure will be to respond to the needs of our newfound allies," said Joel Johnson, who handles international issues for the Aerospace Industries Association. Copyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved. Business ENRON INDIAN UNIT DEFAULTED ON PAYMENTS; ENERGY From the Associated Press and Reuters 09/22/2001 San Jose Mercury News Morning Final 2C (c) Copyright 2001, San Jose Mercury News. All Rights Reserved. A majority-owned Indian unit of U.S. energy giant Enron has defaulted on interest payments to international lenders, Enron said Friday. ''I can confirm that there was a technical default on the Phase 2 loans for the Dabhol power plant,'' Enron spokesman John Ambler told Reuters. Citibank, Bank of America, U.S. Exim Bank and Japan's Overseas Private Investment Corp. are among the international lenders to Dabhol Power's $2.9 billion Indian plant. Copyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved. BUSINESS CONSUMERS WILL SEEK REVIEW OF PGE RATES GAIL KINSEY HILL - The Oregonian 09/22/2001 Portland Oregonian SUNRISE E01 (Copyright (c) The Oregonian 2001) Summary: Increases of 31.5 percent to 53 percent have been approved, but groups will ask the state to reconsider Several business and consumer groups say they will ask state regulators on Monday to reconsider approval of 30-plus percent rate increases for Portland General Electric customers. The increases are scheduled to take effect Oct. 1. The groups claim the Oregon Public Utility Commission failed to take into account the economic impact of such large and sudden increases. "PGE's rate increases cause rate shock and are not fair, just and reasonable," stated a news release issued Friday by Associated Oregon Industries, Industrial Consumers of Northwest Utilities and the Citizens' Utility Board. Representatives for the interest groups said they will file two motions Monday. One will ask the PUC to reconsider the Aug. 31 order that granted the increases. The other will ask that the increases be suspended until the review is completed. The PUC approved rate increases of 31.5 percent for residential customers, 37 percent to 53 percent for small businesses and from 49 percent to 53 percent for industrial consumers, depending on consumption. Portland General Electric, which serves more Oregon customers than any other utility, has argued that rapidly rising electricity and fuel costs have made the increases necessary. "We understand these are big increases, and we certainly don't want to pass them along to our customers," said Scott Simms, a PGE spokesman. "But unfortunately, this is what it costs us to deliver electricity to our customers." Simms said almost a year of negotiations and hearings preceded PUC approval. "There was nothing sudden or hidden about it," he said. Bob Jenks, executive director of the Citizens' Utility Board, a consumer advocacy group, said regulators did not adequately weigh the economic consequences of the double-digit increases. Current conditions, rife with economic uncertainty, make the review even more critical, he said. "The economy is going downhill so quickly," he said. "The fear is this (rate increase) will only erode it further." Joan Smith, one of three utility commissioners, said she would not comment on the motions until they were formally filed. First, she said, an administrative law judge will decide whether the motions meet regulatory requirements for consideration. Any reconsideration would be "careful and thorough," she said. Copyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved.