ENRON'S James V. Derrick

 

• James V. Derrick, general counsel: Sold 230,660 shares for $12.6 million.


Executive Bio
JAMES V. DERRICK, JR.
Executive Vice President and General Counsel
Enron Corp.

James V. Derrick, Jr. was named executive vice president and general counsel of Enron in July 1999. Previously, Mr. Derrick had been senior vice president and general counsel since June 1991. Mr. Derrick is also a member of Enron's Management Committee.

Before joining Enron, Mr. Derrick had been in a private practice at Vinson & Elkins, one of the largest law firms in the country, since 1971.

Mr. Derrick received a bachelor's degree with honors in government in 1967 from the University of Texas at Austin. Mr. Derrick received a juris doctorate degree. with honors in 1970 from the University of Texas School of Law and was associate editor for the Texas Law Review. Mr. Derrick was adjunct professor of law at the University of Texas School of Law, Austin, Texas from 1984 to 1990
http://www.enron.com/corp/pressroom/bios/jimderrick.html

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[PDF] 6B Report for EcoElectrica LP
File Format: PDF/Adobe Acrobat - View as HTML
... Raul A. Perez Directors - James V. Iaco, Jr. Mark Irwin David L. Haug James V. Derrick,
Jr. CPUC Contact: James A. Kelly, 626-302-2284 Intended Function: Owns ...

http://www.apfn.org/enron/s-ca-edison.pdf

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UT dean's Enron ties questioned
Law school official chairs panel that is auditing same company that has contributed millions to the university.
By JANET ELLIOTT
Copyright 2001 Houston Chronicle Austin Bureau

AUSTIN -- When University of Texas Law School Dean William Powers Jr. was named to Enron's board of directors Oct. 31, it was a move designed to boost the beleaguered company's credibility.
Enron made the announcement the same day it reported that the Securities and Exchange Commission had opened a formal investigation into questionable financial transactions, including partnerships used to hide losses. Powers was named chairman of a special committee to do an internal investigation and respond to the SEC.
The committee was given power to take disciplinary action against any Enron employee, officer or director determined to have improperly participated in the transactions.

"We had a need to have an independent board member chair this special committee," company spokeswoman Karen Denne said at the time.
But some ethics experts now are criticizing Powers' independence given the law school's close ties with top Enron officials, including General Counsel James V. Derrick Jr.

Derrick has served in key fund-raising positions for the law school. And Enron also has made donations to the law school as well as to the business school.
Charles Elson, director of the Center for Corporate Governance at the University of Delaware, said Powers should have been advised not to join the board because of the connections between UT and Enron.

"It doesn't look good," said Elson, a former professor of corporate law. "A board member doesn't want to be accused of having a connection with management."
Elson said directors are supposed to be independent enough to look out for shareholders. Other than owning stock and accepting a small salary, directors should be free of substantial financial ties to the corporation.

Elson, a former law professor, said he can understand why Enron wanted Powers as a director.
"A law school dean is someone with perceived integrity, objectivity and intelligence. He would add weight to their defense efforts," said Elson.
Powers' office referred all calls to Enron.
Denne said Enron's board of directors considered the relationship between the company and the university.

"The board believed that Dean Powers' qualifications, independence and stellar reputation outweighed any prior relationship that Enron has had with the university," she said.
Since Powers joined the board, Enron has collapsed into bankruptcy and laid off more than 4,500 employees. And Powers is not the only UT insider whose independence has been questioned.

John Mendelsohn is president of the UT M.D. Anderson Cancer Center and a member of Enron's audit committee. M.D. Anderson has received almost $600,000 in donations from Enron and its CEO, Kenneth Lay.
Another member of the audit committee is Wendy Gramm, the wife of Sen. Phil Gramm, R-Texas. Wendy Gramm is the director of the Mercatus Center at George Mason University, which has received $50,000 in Enron contributions over five years. Scholars with the center comment on environmental and other government regulations.

In May 1998, Enron donated $250,000 to fund a special faculty position in international law at UT. Over the past five years, Enron also has donated $3.5 million to UT's business school.

Enron paid its final installment of $50,000 for the Enron Fund for the Study of Comparative and International Law on Jan. 31.
Powers added a handwritten note on a Feb. 21 letter to Derrick acknowledging the contribution. "Thank you for all you do for us!" Powers wrote.

Derrick was a trustee of the Law School Foundation until he resigned concurrently with Powers' appointment to the Enron board. Denne said Derrick resigned to ensure there was no perceived conflict with Powers' new role.
Juan Zabala, executive director of the Law School Foundation, said trustees work to secure major donations for the law school and also manage its $70 million endowment fund.

In addition, Derrick is the immediate past president of the executive committee of the law school's alumni association. The association conducts annual fund-raising drives for the law school.
In the first eight months of this year, Derrick sold 160,000 shares of Enron stock for $6.8 million. He has been named in shareholder lawsuits alleging he and other Enron officials knew the value of the company's stock was overinflated and would eventually fall but did not share that information publicly with other shareholders.

Powers also has been named to a second Enron board committee that is investigating shareholder litigation. That assignment raises the possibility of another conflict, as the state is expected to have at least $70 million in claims against Enron.
The Texas Attorney General's Office is considering whether the state should file a lawsuit or join one of the dozens of class-action lawsuits that have been filed against Enron.

The Teachers Retirement System has lost around $50 million and the Employees Retirement System has reported losing more than $20 million in Enron investments.
Jeff Boyd, deputy attorney general for litigation, said he has met with a New York lawyer who is representing Enron shareholders but that no decision has been made to hire outside counsel. Boyd said that even if the state pension funds don't file a lawsuit, they could still recoup losses from other successful shareholder lawsuits.

Cris Feldman, an attorney with Texans for Public Justice, which tracks corporate power and money in Texas politics, said Powers may have to vote on matters adverse to the state's interest.
"That would seem to be a conflict of interest for a public employee," said Feldman.
Patricia Ohlendorf, UT-Austin vice president for legal affairs, said she hasn't discussed any potential conflicts with Powers.

"If he found himself in a position in which he thought there might be a conflict, I'm sure he would handle it in the appropriate manner," said Ohlendorf.
http://www.chron.com/cs/CDA/story.hts/special/enron/1185623

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FERC to focus on Enron's role in Calif. energy crisis
Bush appointed 2 Lay choices to commission
By PATTY REINERT
Copyright 2002 Houston Chronicle Washington Bureau

WASHINGTON -- Federal energy regulators Thursday launched an investigation into whether Houston's embattled Enron Corp. helped prolong last year's electricity crisis in California by unfairly manipulating wholesale power prices.
STORY... http://www.chron.com/cs/CDA/story.hts/special/enron/1235674

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The Texas Union Alumni Connection
Life Member: James V. Derrick, '67, Houston
http://www.utexas.edu/student/txunion/alumni/tuac/?tuac=members  

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The University of Texas-School of Law

Alumni Association Executive Committee 2001-2002

Past-President
James V. Derrick, Jr.
1970
Houston, Texas

http://www.utexas.edu/law/depts/alumni/aaec.html

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HEADER_cail.gif (18784 bytes)

The Center for American and International Law is fortunate to have been led throughout its existence by many outstanding attorneys, judges, law professors and law enforcement officials who have contributed their time and talents as members of The Center's many boards and committees

Trustee:

James V. Derrick, Jr.
Executive Vice President & General Counsel
Enron Corp.
Houston, Texas

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[while the people on life support and emergency needs of electricity in California DIED in the blackouts in the summer of 2001...ENRON's executives gave enourmous contributions to such things as Hobby Organizations.....]

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[PDF] Hobby Newsletter_IV.1
File Format: PDF/Adobe Acrobat - View as HTML
... Mr. & Mrs. Gerald Bennett The Brown Foundation, Inc. John & Lora Clemmons James V.
Derrick, Jr. & Carrin F. Patman Sara Fort Paschall Dodd Fried, Frank, Harris ...
http://www.google.com/search?q=James+V.+Derrick&hl=en&start=50&sa=N

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[PDF] May 12, 2000 ADVICE 1452-E (U 338-E) PUBLIC UTILITIES ...
File Format: PDF/Adobe Acrobat - View as HTML
... ADVICE 1452-E (U 338-E) - 3 - May 12, 2000 James V. Derrick, Jr. Director Contact
for CPUC: James A. Kelly, (626) 302-2284 Intended Function: Owns and operates ...

(page was removed got it in Google cache)

http://www.google.com/search?q=cache:wjxV7NhYy0AC:www.sce.com/005_regul_info/tm2/pdf/1452-E.pdf+James+V.+Derrick&hl=en


Page 1
Donald A. Fellows, Jr.
Manager of Revenue and Tariffs
P.O. Box 800
2244 Walnut Grove Ave.
Rosemead, California 91770
(626) 302-8175
Fax (626) 302-4829
May 12, 2000
ADVICE 1452-E
(U 338-E)
PUBLIC UTILITIES COMMISSION OF THE STATE OF CALIFORNIA
ENERGY DIVISION
SUBJECT:
Implementation of Affiliate Transaction Rules With Respect
to Four Recently-Created Affiliates
In accordance with Decision No. 97-12-088 (D.97-12-088), Appendix A, Rule VI.B,
adopted December 16, 1997, Southern California Edison Company (SCE) hereby
submits this notice regarding implementation of the California Public Utilities
Commission's (Commission) Affiliate Transaction Rules for four recently-created
affiliates:  Italian Vento Power Corporation 4 S.r.l. (Italian Vento), EcoElectrica
L.P. (EcoElectrica), ISAB Energy s.r.l. (ISAB Energy), and CPC Cogeneration LLC
(CPC Cogen).
PURPOSE
This advice filing demonstrates how SCE will implement the Commission's Affiliate
Transaction Rules, adopted in D.97-12-088 and modified by D.98-08-035 and
D.99-09-002 (Rules), for four recently-created affiliates addressed by the Rules.
This advice filing is made in compliance with Rule VI.B.
BACKGROUND
D.97-12-088 adopted rules governing the relationship between California's natural
gas local distribution companies and electric utilities and certain of their affiliates.
For purposes of an electric utility, the rules apply to all utility transactions with
affiliates engaging in the provision of a product that uses electricity or services that
relate to the use of electricity, unless otherwise exempted by the rules.

Page 2
ADVICE 1452-E
(U 338-E)
- 2 -
May 12, 2000
Rule VI.B pertains to compliance plans for new affiliates subject to the Rules:
"Upon the creation of a new affiliate which is addressed
by these Rules, the utility shall immediately notify the
Commission of the creation of the new affiliate, as well as
posting notice on its electronic bulletin board.  No later
than 60 days after the creation of this affiliate, the utility
shall file an advice letter with the Energy Division of the
Commission, served on the parties to this proceeding.
The advice letter shall demonstrate how the utility will
implement these Rules with respect to the new affiliate."
Italian Vento, EcoElectrica, ISAB Energy, and CPC Cogen are indirect subsidiaries
of Edison Mission Energy, a "Class A" affiliate (i.e., subject to the Rules).  These
new affiliates will also be considered Class A affiliates of SCE, because they are
engaged in the provision of products that use electricity or services that relate to
the use of electricity as described below.  As required, SCE has notified the
Commission and posted notice of the creation of these new affiliates on SCE's
affiliate transaction website (http://www.sceaffiliatebb.com/notice.htm).
Resolution E-3539 specified that the following information be provided upon the
creation of a new affiliate:
New Affiliate Name:
Italian Vento Power Corporation 4 S.r.l.
Date this affiliate was created: March 15, 2000
Headquarters:
via Circumcallazione
83100 Avellino, Italy
Primary Officers (Directors):
Marco Ferrando, Clive Warden (EME
representatives)
James Houston, (partners representative)
Brain Caffyn, (partners representative)
Oreste Vigorito (partners representative)
Contact for CPUC:
James A. Kelly, (626) 302-2284
Intended Function:
To build, own and operate wind power plants in
Italy for the purpose of selling electricity at a profit.
New Affiliate Name:
EcoElectrica L.P.
Date this affiliate was created: March 21, 2000
Headquarters:
Plaza Scotiabank
273 Ponce de Leon Avenue, Suite 902,
Hato Rey, Puerto Rico 00918
Primary Officers:
Raul A. Perez
President
James V. Iaco, Jr.
Director
Mark Irwin
Director
David L. Haug
Director

Page 3
ADVICE 1452-E
(U 338-E)
- 3 -
May 12, 2000
James V. Derrick, Jr.
Director
Contact for CPUC:
James A. Kelly, (626) 302-2284
Intended Function:
Owns and operates various energy producing
facilities in Puerto Rico.
New Affiliate Name:
ISAB Energy s.r.l.
Date this affiliate was created: April 18, 2000
Headquarters:
Corso Gelone No. 103
Siracusa, Sicily, Italy
Primary Officers (Directors):
D. D'Arpizio
S. Daniel Melita
M. Ferrando
P. Nebuloni
F. Bifulco
Contact for CPUC:
James A. Kelly, (626) 302-2284
Intended Function:
Owns and operates an integrated gasification and
combined cycle power plant in Italy.
New Affiliate Name:
CPC Cogeneration LLC
Date this affiliate was created: April 27, 2000
Headquarters:
Corporation Trust Center
1209 Orange Street
Wilmington, DE
Primary Officers:
Michael P. Hoffman
President
Graham T. Grant
Vice President
Philip R. Herrington
Vice President
Paul Multari
Vice President
Patrick L. King
Vice President
Daniel B. Pinkert
Vice President
Eileen A. Kamerick
Vice President & Chief
Financial Officer
James G. Nemeth
Vice President & General
Tax Officer
Thomas A. Lu
Vice President &
Assistant Treasurer
Debra A. Plumb
Secretary
Debra A. Dowling
Assistant Secretary
Barbara M. Bartoletti
Assistant Secretary
Suzanne R. Hull
Assistant Secretary
James Wong, Jr.
Assistant Secretary
Robert D. Novaria
Treasurer
Laura P. Peterson
Assistant Treasurer
Denise L. Ramos
Assistant Treasurer
Marie L. Lukas
Assistant Treasurer
Dale P. Shrallow
Tax Officer

Page 4
ADVICE 1452-E
(U 338-E)
- 4 -
May 12, 2000
Contact for CPUC:
James A. Kelly, (626) 302-2284
Intended Function:
Slated to purchase power from the Watson
Cogeneration project at market rate and sell to
ARCO for a fixed rate, thereby supplying electrical
energy and/or energy related products.
Affiliate Transaction Rule VI.A required SCE to file a compliance plan for its then-
existing affiliates.  SCE filed a Preliminary Affiliate Transactions Compliance Plan
(Advice 1278-E) on December 31, 1997, and a Supplemental Compliance Plan
(Advice 1278-E-A) on January 30, 1998.  On September 17, 1998, in
Resolution E-3539, the Commission rejected portions of Advice 1278-E-A.  On
October 16, 1998, SCE filed Advice 1278-E-B, its Revised Affiliate Transactions
Compliance Plan (RCP), which superseded Advice 1278-E-A in its entirety.  On
February 5, 1999, SCE filed Advice 1278-E-C, its Amended Revised Compliance
Plan (ARCP), updating its compliance statements with regard to Rule V.F.1.  On
November 12, 1999, SCE filed Advice 1278-E-D, its Updated Compliance Plan
(UCP), regarding various Affiliate Transaction Rules, and superseding Advice
1278-E-C.  On May 9, 2000, SCE filed Advice 1278-E-E, its Amended Compliance
Plan (ACP), which included several additional updates.  The Commission has not
yet issued a determination regarding Advice 1278-E-B, 1278-E-D, or 1278-E-E.
Pursuant to Rule VI.A, these advice letters are the current documents guiding
SCE's compliance with the affiliate transaction rules.
No unusual or unique circumstances exist that would require affiliate transaction
rule implementation measures for Italian Vento, EcoElectrica, ISAB Energy, and
CPC Cogen that differ from those already identified for other affiliates.  Therefore,
SCE will apply the provisions of Advice 1278-E-B, Advice 1278-E-D, and Advice
1278-E-E to all transactions with these new affiliates.  If the Commission modifies
or requires amendment of SCE's RCP, UCP and/or ACP, SCE will apply all such
changes or the provisions of such amended plans to these new affiliates.
SCE acknowledges that, in regard to Italian Vento, EcoElectrica, ISAB Energy, and
CPC Cogen, the rules and policies regarding nondiscrimination, disclosure of
information, separation of systems, and transfer pricing are particularly significant.
Although all of the affiliate transaction rules apply to SCE's transactions with
Italian Vento, EcoElectrica, ISAB Energy, and CPC Cogen, SCE notes in particular
the compliance measures discussed in SCE's RCP, UCP, and ACP for Rules III.B,
III.E, IV.A, IV.B, IV.D, IV.F, V.C, V.D, V.E, V.F, V.G and V.H in regard to these
new affiliates.  The volume and nature of transactions between SCE and Italian
Vento, EcoElectrica, ISAB Energy, and CPC Cogen, if any, cannot be predicted with
certainty.  If such transactions occur, they will be subject to the mechanisms and
procedures identified in SCE's prevailing compliance plans, for the relevant Rules
noted above.

Page 5
ADVICE 1452-E
(U 338-E)
- 5 -
May 12, 2000
Italian Vento, EcoElectrica, ISAB Energy, and CPC Cogen will determine their
staffing needs independently of SCE.  If Italian Vento, EcoElectrica, ISAB Energy,
or CPC Cogen should employ any individuals currently employed by SCE, the
provisions of Rule V.G will be followed in full.
No cost information is required for this advice filing.
This advice filing will not increase or decrease any rate or charge, cause the
withdrawal of service, or conflict with any schedule or rules.
EFFECTIVE DATE
This advice filing is made in compliance with D.97-12-088 and will become effective
on the 40th
 calendar day after the date filed, which is June 21, 2000.
NOTICE
Anyone wishing to protest this advice filing may do so by sending a letter which
must be received by SCE no later than 20 days after the date of this advice filing.
Protests should be mailed to:
IMC Program Manager
Energy Division
California Public Utilities Commission
505 Van Ness Avenue, Room 4002
San Francisco, CA  94102
Facsimile: (415) 703-2200
Copies should also be mailed to the attention of the Director, Energy Division,
Room 4004 (same address as above).
In addition, protests and all other correspondence regarding this advice letter
should also be sent by letter and transmitted via facsimile to the attention of:
Donald A. Fellows
Manager of Revenue and Tariffs
Southern California Edison Company
2244 Walnut Grove Avenue, Rm. 303
Rosemead, California 91770
Facsimile (626) 302-4829
Bruce Foster
Vice President of Regulatory Operations
Southern California Edison Company
601 Van Ness Avenue, Suite 2040
San Francisco, California 94102
Facsimile (415) 673-1116

Page 6
ADVICE 1452-E
(U 338-E)
- 6 -
May 12, 2000
There are no restrictions on who may file a protest, but the protest shall set forth
specifically the grounds upon which it is based and shall be submitted
expeditiously.
In compliance with General Order No. 96-A, copies of this advice filing are being
furnished to the attached service list, including Interested Parties in the
OIR 97-04-011/OII 97-04-012.  Address change requests to the attached GO 96-A
Service List should be directed to Emelyn Lawler at (626) 302-3985.
Further, in accordance with Public Utilities Code Section 491, notice to the public is
hereby given by filing and keeping the advice filing open for public inspection at
SCE's corporate headquarters.
Southern California Edison Company
Donald A. Fellows, Jr.
DAF:mac/eml:1452e.doc
Enclosures
http://www.google.com/search?q=cache:wjxV7NhYy0AC:www.sce.com/005_regul_info/tm2/pdf/1452-E.pdf+James+V.+Derrick&hl=en