text_combined: enron mentions enron looks investors finds skittish new york times 11 07 01 companies finance americas companies scale back enron business financial times 11 07 01 enron weaknesses threaten industry los angeles times 11 07 01 america freer markets one burst bubble vs two wall street journal 11 07 01 war casualty experts say supplies safe longer afghan fight greater risk newsweek 11 12 01 enron cancels meeting dabhol power lenders court action bloomberg 11 12 01 india update 1 india lenders seek court action enron plant reuters english news service 11 07 01 enron india dabhol pwr lenders singapore mtg canceled dow jones energy service 11 07 01 india tata power may ask lenders loan write dpc business line hindu 11 07 01 path paved due diligence tata bses business standard 11 07 01 domestic lenders file lawsuit enron indian unit agence france presse 11 07 01 former enron ceo testifies sec tuesday exec dow jones energy service 11 06 01 usa wrapup enron shares sink company looks cash reuters english news service 11 06 01 usa buyout funds flock enron might pipe dream reuters english news service 11 06 01 usa enron shows signs restoring battered image reuters english news service 11 06 01 playing flux enron realmoney com 11 06 01 look ahead instead looking market justice realmoney com 11 06 01 business financial desk section c enron looks investors finds skittish richard oppel jr andrew ross sorkin 11 07 2001 new york times page 2 column 5 c 2001 new york times company enron attempt quietly line big name investor demonstrate financial strength seems backfired overtures several prominent investors failed turn takers sending stock new low yesterday uncertainty impact enron troubles also prompted one big energy trader unwind positions representatives enron energy trading company based houston approached warren e buffett chairman berkshire hathaway decided pursue major investment company according person close talks part mr buffett reluctance unwillingness sign confidentiality agreement company would preclude trading enron debt person said officials berkshire hathaway return phone calls tuesday dozen buyout firms including clayton dubilier blackstone group kohlberg kravis roberts expressed little interest according person close talks g e capital unit general electric also approached person said ruled investment officials companies declined comment return telephone calls overtures reported tuesday wall street journal although used pipeline assets last week secure 1 billion credit line company ability obtain additional financing unclear investors shares enron fell 1 50 yesterday 9 67 lowest since 1992 enron could lose investment grade credit rating traders might shift business elsewhere additional risk ratings cut could also trigger early redemption debt enron guaranteed forcing company issue tens millions new shares cover debt moody investors service standard poor rate enron two notches junk status fitch investors service lowered week one notch junk fitch cited difficulties enron faces managing liquidity position face erosion investor confidence said would consider downgrades company prospects clouded investigation enron finances securities exchange commission tuesday officials milken institute said jeffrey k skilling enron former chief executive officer resigned august cancel seminar appearance go washington spokesman mr skilling said washington today planning answer questions e c according person close company enron hopes within next week outline publicly various balance sheet debts related party transactions drawn attention e c officials large energy companies including duke energy dynegy inc reliant inc declined comment tuesday whether discussions making investment enron senior executive el paso corporation houston natural gas giant market capitalization three times enron said company might interested acquiring assets enron unlikely large transaction like companies hard assets said executive adding talks way asset purchases although executive said el paso officials believe enron survive crisis large energy traders said tuesday still business enron though continue watch situation closely executives also said energy producers may steering business away enron traders marketers enron spokesman said transaction volume remains unchanged company north american natural gas power business accounts 90 percent company trading officials one largest independent natural gas producers apache corporation houston said unwound nearly hedges gas prices last days concerns would happen marketplace energy derivatives enron collapsed apache like many gas producers entered financial contracts allowing sell natural gas set prices steep drop prices year apache large paper gains contracts apache able unwind one hedge complicated transaction involves enron parties said ray plank apache chairman primary reason unwinding hedges said market digest major impact enron credit problems apache gain 70 million various transactions said got stack chips front us decided take get game copyright 2000 dow jones company inc rights reserved companies finance americas companies scale back enron business robert clow julie earle sheila mcnulty 11 07 2001 financial times c 2001 financial times limited rights reserved energy houston company feels commercial impact continuing public relations crisis counterparties starting withdraw business enron early sign embattled company trading business could adversely affected company continuing public relations crisis aquila said reducing exposure enron time risk limits company risk management controls obliged scale exposure enron dealing houston based energy trader come considered risk separately apache oil company said closing hedges put enron raymond plank apache chairman chief executive said company pulling back hedging including enron 25 per cent market continue problems evident daily could start tidal wave could affect elements futures market said mr plank added apache also stop selling enron crude oil business energy company want credit risk said enron spokesman said aquila remained one enron prominent counterparties though added could comment whether aquila might reduced credit exposure enron apache small customer enron small business added enron pressure since october 16 management announced company incurred 1 01 bn charge 1 2 bn reduction shareholders equity result balance sheet dealings company also become subject securities exchange commission investigation result dealings since announcement company share price fallen 50 per cent enron long term debt downgraded three leading credit rating agencies despite pr crisis enron repeatedly stressed core trading business performing well enron counterparties growing wariness comes time continuing nervousness company balance sheet one company first actions initial announcement draw 3 3 bn bank lines protect fickle commercial paper lenders spurning earlier week enron followed raising 1 bn secured credit line co arranged jp morgan chase citigroup time new bank deal official close bank group described funds comfort funds company could simply stack lobby order reassure investors unfortunately loan seem reassured investors much hoped enron talking private equity firms including blackstone group supporting 2 bn investment balance sheet entities affiliated enron owe 8 bn 9 bn debt enron carrying 12 8 bn debt c copyright financial times ltd rights reserved http www ft com copyright 2000 dow jones financial desk enron weaknesses threaten industry james flanigan nancy rivera brooks times staff writers 11 07 2001 los angeles times home edition c 1 copyright 2001 times mirror company executives energy industry voiced concern tuesday continuing decline value credit rating enron corp questioned long chief executive kenneth lay keep job enron stock slumped lowest point 91 2 years reports houston based energy giant stumping cash infusion 2 billion fear among executives across many energy sectors enron ability maintain markets contracts electricity natural gas would collapse weight falling credit standing growing reluctance energy companies business enron world largest trader energy contracts taking 140 billion revenue first nine months year buying selling electric power natural gas contracts worth 500 billion aggregate industry sources estimate enron involved one third energy contracts market maker could function lack financing ripple effects could disaster energy industries experts said seeing threat far single company even single industry one energy investor said leading energy executives approached institutional investors consider forming new management team sources said tuesday team would step enron work difficulties stem transactions obligations company evidently made least 33 balance sheet partnerships enron managers profited lawyers suing company say enron used affiliated partnerships hide liabilities shareholders investors also accused company executives conflicts interest acted investments company partnerships thinking energy circles houston elsewhere sources said enron chairman ceo lay would resign allow company attract fresh financing enron reported tuesday wall street journal seeking 2 billion financing sources houston reported company discussing emergency financing blackstone group new york based investment firm widespread reports major oil companies particularly royal dutch shell group considering buyout enron jeffrey skilling resigned suddenly august enron ceo reported subpoena testify washington enron investigation securities exchange commission possibly failing properly disclose balance sheet partnerships shareholders meanwhile company stock declined 1 50 share 9 67 new york stock exchange stock lowest closing price since 1992 less year ago enron stock sold 84 88 share enron credit rating downgraded fitch inc standard poor moody investors service fitch monday taking company credit bbb one level noninvestment grade fitch analyst ralph pellecchia said agency would drop enron junk status company made progress reducing debt trading business show signs significant deterioration expenses charges noncore businesses selling exceed current estimates rating investment grade would present obstacles enron ability continue making markets electricity natural gas supplies fall investment grade also would trigger early repayment 3 3 billion bonds otherwise would due 2002 2003 lot things people might perceive positive pellecchia said trying show cash available capacity managing businesses time getting bad businesses running business openly transparently obviously process enron troubles cascaded late company reported 618 million loss third quarter 1 2 billon reduction shareholder equity two years annual revenue trebled company led trend energy trading creating internet based network enrononline allowed millions suppliers purchasers electricity natural gas oil coal trade one another enron made markets commodities putting capital buy sell key role clearinghouse put enron greatest peril needs continuing flow cash act buyer every seller seller every buyer said philip k verleger jr newport beach energy economist enron trying reach people get fund enrononline lot companies moving business enron said ironically california position help push enron deeper trouble verleger said enron owed millions dollars california electricity sold state utilities power crisis enron role market maker probably hand many controversial long term power contracts signed year state gov gray davis politicians state regulators repeatedly accused enron overcharging electricity gray davis pull plug state electricity deals enron firms quite possibly could put enron bankruptcy verleger said quickly things change enron collapse said much company trading business could simply migrate smaller competitors happened junk bond powerhouse drexel burnham lambert inc folded 1990 collapse could seriously damage trading electricity said enron pioneered market complex financial instruments bloomberg news used compiling report copyright 2000 dow jones company inc rights reserved p lowers rating yosemite securities co notes bbb 11 07 2001 pr newswire copyright c 2001 pr newswire london nov 7 prnewswire standard poor today lowered rating gbp 200 million 8 75 series 2000 linked enron obligations issued yosemite securities co ltd bbb bbb rating action consequence downgrade enron corp senior unsecured debt rating acts support yosemite securities co ltd bbb bbb nov 1 2001 contact perry inglis standard poor london 44 20 7826 3857 07 32 est copyright 2000 dow jones company inc rights reserved fund track mutual fund manager exits merrill lynch tom lauricella staff reporter wall street journal 11 07 2001 wall street journal cl 8 copyright c 2001 dow jones company inc new york james mccall star mutual fund manager hired two years ago merrill lynch co whose investment performance took breathtaking fall tech stocks crumbled left company two merrill funds run mr mccall specializes aggressive fast trading stock picking among worst performing stock funds kind last year costing investors hundreds millions dollars since big bets technology turned sour past year 329 million merrill lynch focus twenty fund lost shareholders 81 investment past 12 months mr mccall portfolio 66 million premier growth fund 68 two portfolios rolled spring 2000 investors entrusted 1 2 billion funds merrill spokesman said mr mccall 48 years old available comment firm comment reason departure mr mccall resignation first high profile departure merrill lynch investment managers since jeffrey peek group president resigned late september passed post president brokerage firm post instead went e stanley neal mr peek recruited mr mccall slightly two years ago pilgrim baxter associates wayne pa money manager aim broadening merrill struggling fund lineup away focus bargain oriented value stocks time favor mr mccall specialty aggressively trading stocks fast growing companies style known momentum investing portfolios often concentrated among small numbers stocks adding volatile nature pilgrim baxter mr mccall funds among top performing portfolios kind 1998 example pbhg large cap 20 fund gained 68 year standard poor 500 stock index rose 28 5 however even mr mccall joined merrill controversy mr peek efforts lure away pilgrim baxter turned legal battle merrill pilgrim baxter eventually settled terms publicly disclosed proved bigger problem moment merrill launched mr mccall funds great fanfare style investing went cold talk ill fated venture says russel kinnel director fund analysis morningstar inc timed worse even compared growth funds mr mccall funds posted exceptionally large losses focus twenty fund lost 72 since start year average large cap growth fund 27 5 according morningstar mr mccall portfolios heavily invested technology telecommunications biotechnology stocks mr mccall also big wager enron corp energy company whose stock plunged 88 year according recent information available enron ninth largest position focus twenty fund numbers shockingly bad even standard growth momentum funds mr kinnel says look funds went owned taking mr mccall place funds another pbhg veteran michael hahn mr hahn currently manages merrill 11 million mid cap growth fund also rough year losing 57 merrill spokesman said mr mccall making available assist transition funds management mr hahn morningstar mr kinnel said despite fund poor performance fact putting mike hahn funds indicates merrill throwing towel momentum strategy late yesterday mr mccall name photograph replaced mr hahn merrill web site copyright 2000 dow jones company inc rights reserved nov 7 2001 houston chronicle skilling sec talk enron dealings laura goldberg copyright 2001 houston chronicle jeff skilling former chief executive officer enron corp contacted securities exchange commission sec investigating business dealings enron investment partnerships run company recently removed chief financial officer andrew fastow skilling plans answer questions sec denis calabrese spokesman skilling said tuesday wall street raised number questions enron financial reporting stability since company released third quarter earnings oct 16 earnings report enron disclosed taken 35 million loss related ending relationships investment partnerships formerly run fastow chief financial officer also reduced shareholders equity 1 2 billion fastow resigned role partnerships called ljm cayman ljm 2 co investment june criticism wall street enron replaced oct 24 skilling unexpectedly resigned august ceo citing personal reasons enron previously said auditors attorneys reviewed fastow ljm arrangements board fully informed approved arrangements however special board committee reviewing transactions involving ljm possibly entities shares enron fell 1 50 tuesday 9 67 warren buffet berkshire invest enron nyt reports 2001 11 07 04 17 new york houston nov 7 bloomberg berkshire hathaway inc chairman warren buffett invest enron corp largest energy trader new york times reported citing unidentified person close talks buffett decided investing unwilling sign confidentiality agreement would preclude trading enron debt one number people firms approached energy company paper said clayton dubilier rice blackstone group kohlberg kravis roberts co shown little interest person familiar talks said according nyt general electric co ge capital unit ruled investment paper cited source saying securities exchange commission investigating enron partnerships run former chief financial officer andrew fastow entities bought sold enron shares assets trades costing enron 35 million 1 2 billion lost shareholder equity enron seeking 2 billion private money ousted fastow last month journal reported abreast market caterpillar ge dupont advance markets climb wall worry robert brien dow jones newswires 11 07 2001 wall street journal c 2 copyright c 2001 dow jones broached concerns company realize ambitions turning cash flow positive second quarter 2002 cephalon nasdaq added 1 04 1 6 65 55 west chester pa biopharmaceuticals concern posted analysts described strong third quarter results company raised 2001 earnings forecast cibc world markets calling results blowout quarter reiterated strong buy rating stock enron fell 52 week low heavy volume 45 million shares changing hands stock declined 1 50 13 9 67 wall street journal reported yesterday energy giant seeking another capital infusion least 2 billion shares jabil circuit rose 1 58 6 4 26 43 thomas weisel partners identified st petersburg fla contract electronics manufacturer prospective beneficiary improvements cisco sales jabil provides outsourcing services cisco sap american depositary shares added 1 60 5 8 29 11 german enterprise software maker introduced enhanced integration software product credit suisse first boston said think introduction product would short medium term impact sap earnings prospects signal importance integration software market shares integration software developers tibco software nasdaq fell eight cents 0 8 9 41 lost ground prospects increased competition market rsa security nasdaq gained 23 cents 1 7 13 73 salomon smith barney described bedford mass provider network security products data encryption software one likely beneficiary federal government security spending package time warner telecom nasdaq advanced 1 57 15 12 12 littleton colo telecommunications services provider reported third quarter results showed sharp jump revenue though losses increased year earlier due part costs related acquisition copyright 2000 dow jones company inc rights reserved world stock markets wall st trims losses word fed mary chung 11 07 2001 financial times c 2001 financial times limited rights reserved us stocks trimmed losses immediately following federal reserve decision lower short term interest rates 50 basis points yesterday wall street widely expected central bank cut rates 10 th time year help stimulate us economy decision fed policymakers cut aggressive 50 bp lowering federal funds rate 2 per cent following recent rash grim economic data bolstered market late trading dow jones industrial average 9 82 9 431 21 p 500 index 2 25 1 100 59 nasdaq composite gained 1 41 1 795 06 cisco systems offered cheer earlier bolstered technology sector networking company reported sales earning wall street forecasts said downturn sector may bottomed several analysts encouraged cisco earnings performance raised rating company shares rose 2 4 per cent 18 33 rival juniper networks slipped 2 6 per cent 22 microsoft edged slightly higher 0 1 per cent 63 34 six 18 states suing software company said opposed justice department backed settlement would consider continued talks company shares leading technology stocks mixed oracle ciena dipped intel sun microsystems gained metropolitan life dipped 0 4 per cent 27 80 largest us public life insurer reported lower third quarter earnings walt disney biggest loser dow 4 per cent 18 39 goldman sachs downgraded stock citing anticipated decline disney fiscal september 2002 earnings lack sustainable near term catalyst goldman also said despite box office success monsters 2002 earnings particular pressure disney world broadcasting division pixar animation company co produced hit movie continued decline 1 6 per cent 34 40 following downgrade prudential securities earlier week energy sector saw heaviest losses exxonmobil 2 per cent 38 61 enron embattled energy trading company another 11 per cent 9 93 toronto little changed early trading investors awaited news us federal reserve interest rate intentions midsession p 300 composite index virtually square 7 076 80 nortel networks added 35 cents c 10 34 c copyright financial times ltd rights reserved http www ft com copyright 2000 dow jones us 1 27 billion acquisition electric plant brazil 1998 us 2 51 billion purchase water company united kingdom 1998 late 1990 enron executives changed course company said would sell pipelines power plants make money almost entirely trading energy rather producing plan succeeded last year 97 enron revenue came trading advising industrial customers energy use copyright 2000 dow jones america freer markets one burst bubble vs two jacob schlesinger peter landers staff reporters wall street journal 11 07 2001 wall street journal al copyright c 2001 dow jones 1990 u held distinction cases good times ended bursting stock market bubble pricked least part nervous central bank cases predictions quick turnaround proved wrong excessive american investment fiber optic high speed phone lines echoes japan decade earlier investment binge memory chip factories plight one well respected american company enron corp lost two thirds market value three weeks reminiscent previously invisible weakness japan slump exposed many country banks even recent squabbling u congress threatens derail package economic stimulus measures sounds eerily similar bureaucratic political wrangling stymied bold fixes japan u monetary policy considered powerful tool countering nation downturns looking increasingly like japan interest rates fall toward zero japan endured decade stagnation could happen analysts continue answer resounding point japan burst stock market bubble also real estate bubble turn laid low banking system u bubble appears limited stocks american banking system remains strong u policy makers also insist wiser japanese counterparts part learned japan mistakes add u economic political system flexible japan better able make necessary repairs easy raise suspicion japanese american economies similarities u treasury secretary paul neill said recent interview think apt make comparison among things says open economy one things really beneficial economy openness challenge permitted come foreign suppliers world moreover u central bank yet exhausted rate cutting options announcing half point rate cut yesterday fed policy committee made clear remained poised keep cutting rates 1 range deemed necessary foreseeable future declared risks weighted mainly toward conditions may generate economic weakness u markets rallied recent weeks assumption fed still able turn things around next year indeed trading bit lower yesterday hours fed 2 15 p est rate announcement dow jones industrial average soared 150 09 points 1 59 finish 9591 12 14 points close day sept 11 terrorist attacks u fed chairman alan greenspan continues cling faith u economy future long term prospects productivity growth economy remain favorable become evident unusual forces restraining demand abate fed said statement yesterday yet japanese less confident economy decade ago even slipped prolonged crisis foundations solid declared bank japan governor yasushi mieno started cutting interest rates 1991 japan nikkei stock average peaked near 40000 december 1989 1991 three leading economic institutes issued long term forecasts japan next decade beyond saw long term economic growth continuing 3 5 year instead country grew annual average 1 1 1992 2000 april 1992 nikkei appeared hitting bottom 17000 consensus dozen top forecasters still foresaw japanese economic growth following year 2 3 ended growing 0 4 today nikkei hovers around 10000 japanese economy back fourth recession past decade one reason unexpected length depth japan decline 1980 bubble created myriad destructive excesses many became evident bubble popped example 1991 real estate prices started falling many analysts thought decline would temporary mid 1990 economists saw severely fall real estate prices hurt japan big banks bad investments continue haunt japanese banks banks lend much directly real estate speculators instead much money went intermediaries non bank finance companies construction companies today many contractors near insolvency banks may take huge write offs recognized would take long time fixed even thought would mean two three years yoshimasa nishimura former head japanese finance ministry banking bureau says bubble took manufacturers many years recognize capacity built bubble never going used auto makers manufactured 13 5 million vehicles including trucks buses japan 1990 number fell gradually stands 10 million per year years companies kept excess capacity workers betting falloff temporary japan economy first slowed widespread confidence government could easily manage downturn 1980 country fabled bureaucrats sterling reputation economic management much mr greenspan u 1990 short term interest rates 6 budget surplus 8 8 trillion yen 72 3 billion 2 gross domestic product japanese central bank parliament plenty room cut rates cut taxes boost public spending bank japan ultimately cut rates almost six percentage points politicians used full surplus even let government run primary budget deficit deficit excluding bond issuance repayment 11 trillion yen 2 gdp acted slowly end failed jump start economy american policy makers give higher marks speed response fed cut interest rates 4 5 percentage points 10 months took bank japan 4 1 2 years moreover u congress turned unprecedented budget surpluses almost certain deficits equal dispatch passing massive 1 trillion 10 year tax cut earlier year rapidly approving 40 billion stimulus measures 15 billion airline bailout wake sept 11 terrorist attacks members congress caught stalemate plan 75 billion 100 billion additional stimulus actions good chance enactment year end japanese diet hand dallied year half passing first stimulus package even important speed america policy makers though may flexibility american economy analysts say u economy self cleansing form capitalism discourages many excesses built japan 1980 decade ago japanese boasted found secret formula smoothing free market business cycles companies friendly shareholders well bankers provided patient capital allowed long term technological investments spite weak quarterly earnings lifetime employment guarantees gave workers sense income security encouraging keep spending downturns retrospect traits seem like weaknesses factors shielded japanese companies free market pressures would made efficient u system contrast considered better equipped shift resources unproductive productive uses even today decade long slump japanese company matsushita electric industrial co refuses lay 130 000 employees japan despite losses expected exceed 2 billion year far cry u companies international business machines corp corp laid workers even boom years freeing technology talent go newer fast growing rivals dell computer corp cisco systems inc part u policy makers willingness inflict short term pain allows flexibility american officials argue japan would come crisis quickly handled banking crisis way u handled american savings loan crisis 1980 back u government ordered thrift shutdowns foreclosures caused shareholders lose investments borrowers lose properties japan failed banks propped problems allowed fester still american style free markets hardly immune excesses become apparent longer economy idles telecom companies spent tens billions dollars lay tens millions miles fiber optic cables estimated 2 6 used blue chip american express co ended writing 1 billion junk bond investments considered relatively low risks economy went sour subprime lender providian financial corp sent earnings stock price soaring late 1990 tapping largely ignored pool consumers checkered borrowing records providian insisted used sophisticated models limit risks nonetheless ended announcing surprising 71 drop third quarter earnings last month stock fell half surprises almost certainly store many analysts argue u stock market even 25 peak remains bubble waiting deflate standard poor 500 stock index still trading price earnings ratio 21 28 times earnings depending measurement would need fall least 30 reach historic average p e ratio 15 according leuthold group minneapolis based investment research firm analysts large amount consumer debt outstanding u ticking time bomb could rival bad loans dragging japanese banks american households borrowed freely dipped deeply savings 1990 good times wages stock portfolios rising situation seemed manageable income growth slows mutual funds shrink burden could spin control fed estimates household debt service burden ratio debt payments tax income rose 14 earlier year first time since 1987 time number americans filing personal bankruptcy hit record 390 064 one reason surge american borrowing sharp increase number new home mortgages wave mortgage refinancing take advantage falling interest rates rising home values home sales consumer spending backed rising housing values rare bright spots past year otherwise dismal economy dangers well one concern sharp rise home prices past four years nearly 20 nationally adjusted inflation 60 hot markets silicon valley according office federal housing enterprise oversight washington could turn miniature version japan real estate bubble another worry america housing market driven entirely free market forces rather theory goes propped japan like government subsidies easy loan terms made possible widespread assumptions government would pick tab defaults nation mortgage market dominated fannie mae freddie mac government chartered companies shareholder owned still enjoy various implicit explicit subsidies tax breaks emergency line credit u treasury two washington area companies actually issue mortgages instead buy mortgages lenders repackage tradable securities play major role influencing size shape market setting underwriting standards loans purchase conservatives including fed mr greenspan expressed concern fannie freddie using government subsidies expand housing market create distortions drawing capital away productive uses congressional budget office estimates two companies last year enjoyed subsidies totaling 10 6 billion number say exaggerated critics say companies encourage riskier lending completely free market would allow pattern may sustain housing demand near term raises risk bigger bust road japan woes exacerbated formal informal government backing lenders includes government housing loan corp gets 3 billion annual subsidy separate state run loan guarantee program keeps many technically bankrupt small businesses afloat fannie mae chairman frank raines rejects notion similarity company japanese style subsidies mortgage corporation private market discipline private management private equity capital private debt capital fannie says three well tight regulatory standards requiring company keep enough capital hand withstand catastrophe company private shareholders adds every incentive prevent overly risky lending since would lose investments even government intervene back loans elsewhere business front vaunted flexibility american economy perhaps raising efficiency long run could also serve intensify downturn american corporations readiness resort layoffs first sign weakness risks battering consumer confidence past three months alone unemployment rate soared nearly full percentage point 5 4 october 4 5 august u jobless rate exceeds japan decade stagnation still 5 3 even workers supposedly protected union contracts fragile safety net wake terrorist attacks major airlines amr corp american airlines delta air lines invoked force majeure clauses labor contracts allowing skirt many negotiated protections dump workers without advance notice partly result conference board index consumer confidence plunged 85 5 october 114 august one swiftest declines record japan unique circumstances may account problems also may demonstrate broader disturbing point policy may times relatively powerless contain destructive forces bursting bubble companies saddled excess capacity little incentive borrow expand matter low interest rates fall even sharp drop capital spending past year percentage industrial capacity use u september 75 5 lowest level since 1983 hardly inducement companies build new factories layoff spooked consumers also may unwilling spend tax rebates enacted encourage shopping recent university michigan survey concluded one five households spent rebate checks mailed summer rest tucking money savings using pay debt extreme supply overhang collapsing bubble touch dangerous cycle deflation falling prices deflationary environment consumers curb spending waiting goods become still cheaper future borrowers get crushed debt burdens loans become expensive relative terms companies forced keep cutting prices cut back workers purchases supplies spreading pain throughout economy japan deflation got way earnest 1998 collapse major bank securities company 1998 1999 wholesale prices fell 1 5 flat year 2000 falling 2001 u yet commodity prices fallen sharply since 1998 u consumer prices measures appear slipping commerce department reported last week favored measure inflation price index gross domestic purchases prices paid u residents fell 0 3 third quarter sharp reversal 1 3 increase second quarter first quarterly decline nearly 40 years analysts say number artificially depressed one time factors relating sept 11 insurance benefit payouts measurement purposes lower insurance prices deflationary world central bank powers respond diminished monetary policy works effectively interest rates fall rate inflation rates inflation falls zero copyright 2000 dow jones capital gains war casualty experts say supplies safe longer afghan fight greater risk jane bryant quinn reported temma ehrenfeld 11 12 2001 newsweek 41 copyright c 2001 newsweek inc rights reserved finding someone worries america oil supplies today hard finding osama bin laden keep pumping gasoline suvs oil war like oil water never mix yet fighting part world misstep assassination could shock oil market suddenly jack prices even want think much economic damage could far investors barely batted eye average prices energy stocks plunged earlier year forecasting less demand business slowed however hope recovery mid 2002 starting late september average prices turned rose consumers put away worry beads last may drivers screamed gasoline reached average 1 72 gallon pump 1 25 could drop additional 10 cents says fred rozell retail pricing director oil price information service lakewood n j see story natural gas prices residential consumers dropped 23 percent first nine months 2001 according bureau labor statistics since october 2000 cost home heating oil gone 17 percent mean imply oil markets brushed bin laden crude prices spiked london right terror attacks businesses dependent oil built higher inventories hijacked planes crashed world economy already weak oil demand slumped opec prices plunged almost one third less 19 barrel together opec countries pump 40 percent world oil last week let known would cut production hoping push price 22 barrel higher oil producers still bad dreams 1998 prices fell 10 economies slipped whether higher prices enforced however remains seen non opec countries mexico russia might pump oil fill gap global recession might turn worse business expects war economic risks seem extraordinarily high take saudi arabia alone entire world needs saudi oil country able mobilize huge amounts extra capacity quickly case say iraq cuts supplies oil prices spike looking america imports account half oil consume two thirds goes transportation cars trucks buses trains planes forget suvs talking basic business infrastructure run green energy devil deal saudis pump oil defend corrupt regime threats zip mouths even let schools mosques preach jihad americans middle east keep 5 000 u military people saudi soil know far power actually reach bin laden making presence tinderbox issue radicals four weeks ago two people one american died bombing al khobar neighborhood 19 u airmen bombed 1996 francis perrin editorial manager paris based journal arab oil gas thinks saudi ruling family hang years least even hostile regimes pump oil witness iran oil produced anywhere goes general global pool says michael toman senior fellow resources future washington c one angry producer stop shipments united states one angry big producer willing pump less oil could hurt users equally new saudi regime could pump less fewer princes support prices might top 35 barrel americans start conserve says charlie ober head rowe price new era fund much fears stock market seem share energy stocks start perform economy reaches bottom says j c waller portfolio manager icon energy fund gains since september suggest investors see better business six nine months stronger economy late 2002 would raise oil demand raise prices encourage drilling drilling drilling equipment stocks strong usual buyers individual stocks walking minefield ok oil drilling group one top 10 performers past three months among got everything nabors industries 63 percent since late september parker drilling 55 percent since may take enron hottie energy trader soared 89 last year securities exchange commission digging accounting three weeks slid 69 percent low 11 30 energy investors tend rotate sector sector making tough amateurs keep mutual funds come energy fund takes different tack icon example built computer model root hopes undervalued stocks mathematics however include political risk fidelity select energy service buys large drillers servicers made one worst funds year stocks took beating first nine months says dan mcneela morningstar drillers gain fidelity turn around diversification look vanguard energy fund invests sectors oil gas much less volatile competitors think people energy port folio time says manager ernst von metzsch given price drops 2001 calls right time still ask low stock prices energy prices look interesting invest gradually several months recovery could slow clear risky war reported temma ehrenfeld copyright 2000 dow jones company inc rights reserved enron cancels meeting dabhol power lenders court action 2001 11 07 06 26 new york enron cancels meeting dabhol power lenders court action mumbai nov 7 bloomberg dabhol power co enron corp indian unit said canceled two day meeting indian lenders local banks filed suit stop canceling power contract maharashtra state officials dabhol power industrial development bank india local banks helped fund 3 billion power project scheduled meet singapore tomorrow resolve ten month old payments dispute indian lenders yesterday filed suit high court mumbai stop dabhol power canceling power contract maharashtra state electricity board six month notice period dabhol cancel contract board expires nov 19 enron issued notice may 19 end contract unpaid bills precipitous action taken ifi indian lenders advance notice given parties including foreign lenders resulted cancellation scheduled discussions nov 8 9 dabhol said statement dabhol said surprised local banks filed suit ahead singapore meeting specifically requested lenders government officials meeting enron washington later week indian prime minister atal behari vajpayee visit u indian lenders lent dabhol 1 4 billion power project risk enron pulls concerned electricity board forced buy power plant enron carries threat making difficult local lenders get back loans enron owns 65 percent dabhol india biggest foreign investment board owes 64 million bills ten months overdue board stopped buying power dabhol may saying expensive court action lenders precipitous step clearly designed frustrate dabhol stakeholders ability pursue legal remedies power purchase agreement economic times quoted statement issued dabhol ravil shirodkar mumbai newsroom 91 22 233 9024 india update 1 india lenders seek court action enron plant 11 07 2001 reuters english news service c reuters limited 2001 adds cancellation singapore meeting company reaction paras 3 7 bombay nov 7 reuters indian lenders enron corp dabhol power co dpc filed legal petition try prevent dpc pulling beleaguered power project senior banker said wednesday moved bombay high court get interim stay final termination notice stop dabhol transferring assets banker declined identified told reuters move provoked angry reaction dabhol company immediately cancelled scheduled meeting domestic lenders singapore november 8 9 discuss issue dpc disappointed legal action taken indian lenders attempt deny dpc foreign sponsors lenders previously agreed legal claims said statement cancellation meeting also blow efforts solve dispute damaged india efforts attract foreign investment power sector enron officials lenders discuss among things proposals two domestic companies tata power bses ltd buy u company stake project final termination notice would cancel power purchase agreement power plant exclusive customer maharashtra state electricity board mseb transfer ownership power plant mseb dpc yet issued final termination notice taken step towards issuing notice transfer assets mseb allows assets power plant valued notices provided mseb power purchase agreement ppa dabhol dpc authority feuding year unpaid bills tariffs 2 184 megawatt power plant shut june dispute indian banks institutions provided loans guarantees around 1 4 billion plant india largest single foreign direct investment 2 9 billion lenders consortium led industrial development bank india filed petition tuesday banker said dpc 65 percent owned enron corp one world biggest energy companies battling calm investor worries business deals probed u securities exchange commission general electric co bechtel corp hold 10 percent dpc enron corp shares fell 13 4 percent 9 67 wall street tuesday fallout investor worries company stock fallen 88 percent year terms another notice served dpc mseb may two sides locked negotiating period november 19 try resolve dispute enron said intends sell dpc stake either indian government domestic lenders domestic foreign lenders stopped disbursements dpc dabhol says reduced ability look plant want ensure talks prospective buyers enron take place amicably believe final termination notice served precipitate situation want banker said additional reporting sriram ramakrishnan copyright 2000 dow jones company inc rights reserved enron india dabhol pwr lenders singapore mtg canceled 11 07 2001 dow jones energy service copyright c 2001 dow jones 65 415 4066 sri jegarajah dowjones com copyright 2000 dow jones company inc rights reserved india tata power may ask lenders loan write dpc 11 07 2001 business line hindu fin times info ltd asia africa intel wire business line hindu copyright c 2001 kasturi sons ltd rights res mumbai nov 6 lenders enron dabhol power company dpc may write part loans potential buyers remain interested acquiring project officials tata power told business line company may ask lenders multilateral meeting held singapore write part 1 9 billion loans 2 184 mw project tata power given expression interest financial institutions last month mumbai based power utility bses ltd company publicly expressed interest buying project albeit substantial discount according sources tatas asked writing loans addition earlier demand increasing moratorium loan repayments slashing interest rates rupee loans constitute 65 per cent debt domestic fis would affected loans written senior tata power officials including mr adi engineer managing director mr phiroze vandrevala deputy managing director leaving singapore wednesday attend negotiations senior bureaucrats union ministries finance power also expected attend apart state mseb officials according sources tata power ask complete debt equity restructuring buy stake dpc also includes asking enron corporation take 50 per cent hit equity dpc enron earlier quoted price 1 2 billion stake tatas looking figure 600 million sources said another matter contention price quoted enron includes 0 22 billion account retained earnings added cost according tatas willing pay 0 8 billion retained earnings include enron much talked education charges company push separate negotiations lng terminal power plant enron earlier said would consider selling project piecemeal company picking stake project would buy power plant along lng terminal company plans negotiate debt equity factors bring power tariffs ideal price rs 2 70 per unit rs 2 90 per unit sources said archana chaudhary copyright 2000 dow jones company inc rights reserved path paved due diligence tata bses ravindran mumbai 11 07 2001 business standard 4 copyright c business standard enron poised enter confidentiality agreements two contenders tata power bses prior entering serious negotiations tata power bses two companies publicly evinced interest buying enron stake dabhol power company dpc confirming move senior tata power executive said terms conditions confidentiality agreement discussion pave way future negotiations bses chairman managing director r v shahi however said aware move dpc spokesman could reached comment stage seems set hardcore negotiations buy equity beleaguered dpc enron holds 65 per cent dpc announced intention exit project following payments dispute maharashtra state electricity board mseb two us based partners general electric bechtel hold 10 per cent decided exit project balance stake held mseb special purpose vehicle enron ge bechtel valued combined 85 per cent stake 1 2 billion learnt bses insisting steep discount enron fare refused budge mumbai based power company also negotiating reduction capital cost project spinning 5 million tonne lng facility separate company contention source gas entering supply agreements players setting lng terminals west coast india copyright 2000 dow jones company inc rights reserved domestic lenders file lawsuit enron indian unit 11 07 2001 agence france presse copyright 2001 bombay nov 7 afp indian banks financial institutions lent money us based enron corp controversial domestic subsidiary filed lawsuit ensure get funds back enron official said wednesday suit filed state bank india icici ltd industrial development bank india ifci ltd given enron three billion dollar power project western maharashtra 60 billion rupees 1 25 billion dollars loans suit comes day dabhol power served asset transfer notice maharashtra state electricity board mseb valuation company assets order sell enron corp along mseb state government maharashtra jointly set project plunged controversy mseb failed pay dabhol power power purchased company enron official said bankers wanted immediate resumption work plant ensure cash flow help owners pay dues lenders dabhol power company said tuesday plans issue final termination notice mseb november 19 order formally close plant enron holds 65 percent stake dabhol power company mseb stakeholder jds bm dv copyright 2000 dow jones company inc rights reserved former enron ceo testifies sec tuesday exec jason leopold dow jones newswires 11 06 2001 dow jones energy service copyright c 2001 dow jones 323 658 3874 jason leopold dowjones com copyright 2000 dow jones company inc rights reserved usa wrapup enron shares sink company looks cash jeff franks 11 06 2001 reuters english news service c reuters limited 2001 houston nov 6 reuters enron corp shares sank 10 00 mark first time nearly decade tuesday energy trading giant sought cash calm investor worries business deals probed federal regulators shares houston based firm closed 1 50 13 4 percent 9 67 level seen since may 1992 enron stock continued downward spiral lopped 88 percent value year actively traded issue new york stock exchange 29 6 million shares changing hands fourth biggest percentage loser analysts attributed drop ongoing investor anxiety company deteriorating credit ratings cut near junk levels raised questions enron ability continue finance business company nation 1 trader natural gas electricity wall street star fallen fire failing explain balance sheet transactions led 1 billion charge 1 2 billion write shareholder equity oct 16 stock lost 18 5 billion market value since date deals conducted partnerships run chief financial officer andrew fastow investigation u securities exchange commission possible conflicts interest fastow took leave absence oct 24 latest growing line high profile departures topped august resignation chief executive jeff skilling left six months job saying wanted lifestyle change bolster fading investor confidence enron gathering cash credit trying sell assets pay debt wall street journal reported tuesday enron talked private equity firms rivals power trading business providing capital infusion least 2 billion exchange equity stake terms infusion needed said access financing drying asset sales going slower expected report said enron approached buyout firms blackstone group clayton dubilier rice gauge interest gotten calls number power traders none paper could identify enron blackstone clayton dubilier declined comment people familiar situation said clayton dubilier interested blackstone willing discuss enron proposal tough read said investors may wary enron books difficult understand therefore depth problems unknown lost last year company 100 billion revenues 1 4 billion net earnings definitely opportunity said one advisor private equity funds distressed situation stable cash flow image experts said enron could make attractive responding fully investor demands information rather clamming recent days tries get house order perception obfuscation going terms senior people making pronouncements without fully understanding nature talking turn gives impression hiding something said john lister lister butler consulting brand identity consulting firm said company quit listening lawyers come clean tends happen situations lawyers get inserted situation first thing lawyer tells shut unfortunately antithesis good brand stewardship requires said copyright 2000 dow jones company inc rights reserved usa buyout funds flock enron might pipe dream dane hamilton 11 06 2001 reuters english news service c reuters limited 2001 new york nov 6 reuters going take lot sweet talking get private equity firms pour cash troubled energy trading giant enron corp buyout executives industry watchers said tuesday houston based enron whose shares hammered concerns credit problems accounting practices reportedly seeking 2 billion investors bolster balance sheet tuesday shares fell 1 50 13 4 percent 9 67 new york stock exchange lowest nearly decade leveraged buyout lbo firms specialize buying large stakes companies help manage eventual sale typically reticent buying stock public companies worries enron accounting transparency could force investors spend months due diligence delaying short term infusion experts said enron tough one said david stein partner fund evaluation group advises private equity investors much esoteric stuff would take long time figure enron said last week obtained 1 billion secured credit lines j p morgan chase co salomon smith barney however wall street journal reported company seeking 2 billion cash major buyout firms blackstone group clayton dubilier rice return equity stake enron enron blackstone clayton dubilier declined comment however people familiar situation said clayton dubilier interested blackstone willing discuss enron proposal private equity executives echoed view lack transparency enron accounting would pose serious hazard effectively valuing company precursor investment would take long time figure said one executive major u buyout firm even potential buyers enron assets say baffled enron financial reporting lawyers looked enron stuff past walked away shaking heads said executive competing firm asked remain anonymous however buyout executives reject investment outright despite problems driven enron shares 75 jan 3 company still generated 100 billion revenue last year 1 4 billion net earnings mostly huge trading operations electricity natural gas definitely opportunity said one advisor private equity funds distressed situation stable cash flow advisor added accounting questionable serious issues basing investing numbers company provided blackstone invest enron would step away traditional strategy buying controlling stakes private companies eventual sale limited partners investors like kind investing general compelling reason said steven schwarzman blackstone chief executive co founder recent conference new york private equity funds say pension fund investors prefer invest public stocks since investors could easily buy stocks without paying fees buyout firm however buyout firms like warburg pincus llc lately made push public stock investing known private investments public equities pipes finding market meltdown last year made valuations overly attractive blackstone schwarzman said pipe investing like savaged underlying security goes copyright 2000 dow jones company inc rights reserved usa enron shows signs restoring battered image carolyn koo 11 06 2001 reuters english news service c reuters limited 2001 new york nov 6 reuters enron corp says working hard restore shattered investor confidence shareholders consultants see precious little disclosure consider company needs rebuild reputation energy trading giant credibility investors badly tarnished stock price sunk lows last seen 1992 investors clamor information balance sheet transactions dealings led 1 2 billion write shareholder equity enron disclosed three weeks ago though enron promised week unexpected write announced transparent still little sign greater disclosure sightings chief executive kenneth lay far dropped scheduled appearance u british business meeting houston last week repeated requests interviews rebuffed meanwhile wall street voting feet enron stock continues sink stock fell 13 43 percent tuesday alone 88 percent year past three weeks 18 5 billion wiped company market value perception obfuscation going terms senior people making pronouncements without fully understanding nature talking turn gives impression hiding something said john lister lister butler consulting brand identity consulting firm since investors began dumping enron securities three weeks ago company made visible moves answer calls accountability held conference call two weeks ago set committee last week examine finances communicate u securities exchange commission launched probe enron murky transactions enron maintained forthright investors despite barrage criticism recognize credibility damaged working investor concerns company spokeswoman said trust came undone enron garnering bad press almost daily basis seem realize badly shining reputation eroded consultants said failing act accordingly said wall street gave high degree credibility enjoyed trust long time trust came undone said john mccormack head consulting firm stern stewart co energy practice confidence takes long time years decades destroyed quickly said even special committee gone far enough investors said afl cio umbrella labor union body whose affiliates hold estimated 3 1 million shares enron wrote lay william powers committee chairman making demands demands included examination transactions entities enron employees directors interest adopting procedures reviewing insider participation investments beginning review executive compensation adopting stricter definition director independence beth young consultant afl cio said special committees set examine company actions try show wide jurisdiction lot power company executives stand way said enron defined committee mission narrowly worried would examine third party transactions company could potential conflicts interest lister advocates much transparency possible way circumstances senior officer well crafted story must give impression telling truth said tends happen situation lawyers get inserted situation first thing lawyer tells shut unfortunately antithesis good brand stewardship requires lister added copyright 2000 dow jones company inc rights reserved playing flux enron james j cramer realmoney com 11 06 2001 01 52 pm est url enron ene nyse news commentary really starting shock bad think think plenty bad think enron got value wonder take flier two bucks change buy nov 10 puts calls reasoning stock flux nobody knows going happen think company worth huge amount takeout wheels really falling going stop two buck change play allows call put next 10 days worth action 10 decisive days think definitely determine fate darned thing want look strategy gives look ahead instead looking market justice james j cramer realmoney com 11 06 2001 08 30 est url want justice cisco csco nasdaq news commentary go zero nortel nt nyse news commentary go minus 5 lucent lu nyse news commentary go minus 20 want fairness pmc sierra pmcs nasdaq news commentary applied micro circuits amcc nasdaq news commentary disappear want honor folks janus invesco firsthand fall swords issuing proclamations saying made big mistakes rode things way understand asking forgiveness simply question want right managers analysts buried go law school become associates want going happen better forget happened focus future future somehow brighter past look want press luck nailed cisco bullish pretty much everything except oil gas travel leisure since sept 11 getting bullish latter understand though even worst downturns country forget japan end people make whole even though many us conditioned movie form justice expect gene hackman come dispense justice bad fund managers think clint eastwood finds bad guys enron ene nyse news commentary makes paint pipelines red shoots think tom hanks sort folksy way make dopes lost fortunes pay somehow happen way understand brutal horrid bear market ruined millions people nest eggs unimaginable destruction capital last 20 months coming end fight mourn bear thought dispensing justice know better survived far gotten far going make going intact better times started stock market soon start economy think telling fairy tales wrong reciting history world make bets seen everything seen things going get better whether like personally like random musings pocket much morning today parents visitation day daughter elementary school darned events missed cause hedge fund job going miss opportunity