The document discusses economic and market trends for 2010, including: 1) Commodity prices such as oil, copper, and the CRB index are expected to rise in 2010-2014 as the US dollar weakens and Asian demand increases. Materials sectors are predicted to outperform the S&P 500. 2) The US dollar is forecast to decline against other currencies like the Canadian dollar and euro. Commodity-linked markets like materials and energy are anticipated to have stronger performance than stocks. 3) Emerging markets like Brazil, Russia, India and China are expected to see stronger economic growth compared to developed nations and outperform global stock indexes. Commodities may lag a rise in the CRB index

5. L IGHT CRUDE OIL CONTRACT

26. OPERATING CASH FLOW VALUE…… ENRON’S OCF VS. EPS 2001 ENRON SHOWS POSITIVE EARNINGS BUT IS LOSING CASH……….. QUARTER OCF EPS Q1(3/31/01) -$.62 +$.54 Q2(6/30/01) -$1.16 +$.51

28. ENRONS RESTATED CASH….. QUARTER OCF EPS Q1(3/31/01) -$.53 +0.46 Q2(6/30/01) -$.98 +$0.43 Q3(9/30/01) +$.77 -$.87

29. EXAMPLE OF OPERATING CASH… CASH FLOW FROM OPERATIONS NET EARNINGS 2,000,000 ADDITIONS TO CASH DEPRECIATION 10,000 DECREASE IN ACCOUNTS RECEIVABLE 15,000 INCREASE IN ACCOUNTS PAYABLE 15,000 INCREASE IN TAXES PAYABLE 2000 SUBTRACTIONS FROM CASH INCREASE IN INVENTORY (30,000) NET CASH FROM OPERATIONS 2,012,000 CASH FLOW FROM INVESTING EQUIPMENT (500,000) CASH FLOW FROM FINANCING NOTES PAYABLE 10,000 CASH FLOW YEAR END DEC 31/2003 1,522,000