Subject: Heads Up
From: [email-masked]
To: [email-masked], [email-masked]
Cc: [email-masked]
Date: Tue, 2 Mar 1999 07:30:00 -0800 (PST)

As you are already aware,  the West desk is making efforts to introduce 
financial trading.  I met with a customer of John Malowney's this afternoon, 
a fellow from a small Oregon PUD named Clatskanie, (pronounced  clask, as in 
ask, uh nigh ) the name of a tribe of Indians that I am sure Lewis and Clark 
dealt with on their way down river in 1805 and about which I will hereby 
discipline myself to  digress no further except to mention in passing that 
there is an excavation site of one of their villages alluded to in the 
Journals, not far from the Portland airport)  anyway,  this customer is 
reviewing an ISDA and says there is an association of Oregon utilities that 
share legal counsel and they are all edging ahead with ISDA review.  One gets 
the sense of a kind  of  imperceptible glacial movement  turning into visible 
creeping .  I stepped up to the plate and said Enron legal would leave no 
stone unturned in working with their association and we would be happy to get 
our ISDA attorney's in Houston to work on a cost effective basis with their 
association to promote this ISDA eductation process and on and on.  He said 
he would give my card to various lawyers and call us back.  So,  this is a 
heads up about what may become an important opportunity for us to creep 
somewhat more rapidly  into the financial trading market up here.  I realize 
that resources in the financial trading group are spread thin but would like 
to urge you to keep this kind of western initiative in mind.  Wouldn't it be 
ironic if the first city to string an electric wire (14 miles from Willamette 
Falls at Oregon City,  capital of the Oregon Territory, to downtown Portland) 
for the public sale of electricity would lead the charge to embracing 
financial power trading?  I will keep you posted and try not to write 
messages so soon after drinking Starbuck coffee.  .--cgy