text_combined: enron mentions 11 14 01 usa enron says recent woes hurt profitability reuters english news service 11 14 01 usa enron traders seen riding storm cuts likely reuters english news service 11 14 01 usa arbs tread lightly enron dynegy deal reuters english news service 11 14 01 usa update 1 enron ceo lay admits errors mea culpa reuters english news service 11 14 01 enron receives dynegy 1 5 b cash infusion tues dyn ene dow jones news service 11 14 01 usa enron queried epa oil pipeline spills reuters english news service 11 14 01 enron sell money losing assets bid restore financial health dow jones business news 11 14 01 cohen milstein hausfeld toll p l l c announces class action suits enron corporation expanded class periods business wire 11 14 01 enron says 4 th qtr earnings cut lost business update 6 bloomberg 11 14 01 cauley geller bowman coates llp expands class period class action lawsuit enron corp business wire 11 14 01 fitch cinergy rating outlook negative business wire 11 14 01 usa enron says recent woes hurt profitability 11 14 2001 reuters english news service c reuters limited 2001 houston nov 14 reuters troubled energy trading giant enron corp agreed last week buyout smaller rival dynegy inc said wednesday expects recent woes temporary negative impact fourth quarter profitability enron executives said conference call analysts investors fourth quarter results would also adversely affected severance costs restructuring costs provide details said expects issue fourth quarter earnings guidance two three weeks enron also said seeking additional 500 million 1 billion private equity help rebuild confidence company keep core trading operations afloat nine months acquisition dynegy expected close enron nation biggest buyer seller natural gas electricity agreed friday bought dynegy 9 billion stock investor unease company business deals sapped finances point near collapse enron gun wall street since mid october said shareholder equity cut 1 2 billion balance sheet deals partnerships run former chief financial officer andrew fastow later replaced deals investigation u regulators copyright 2000 dow jones company inc rights reserved usa enron traders seen riding storm cuts likely scott disavino 11 14 2001 reuters english news service c reuters limited 2001 new york nov 14 reuters traders enron corp atop energy trading world avidly pursued rivals holding see good deal awaiting proposed buyout dynegy inc number jobs expected go near collapse north america biggest energy trader new owners expected pull stops keep enron top traders seen company key assets know traders getting ton calls think going mass exodus trading floor said joe baker president houston based search consultants international recruitment company serves energy power marketing industry enron known turning industry aggressive traders also reputation tough training ground newcomers handsomely rewarding make numbers quickly showing non performers door traders energy firms said experienced traders earn six figures salaries annual bonuses paid sometime beginning january middle march company recruiting traders bonus paid would pay larger sign bonus majority key traders going wait see kind situation develops everyone got eyes open baker said people want stick around see kind bonus going get wait see energy traders clearly worried 9 billion takeover announced last week opportunity dynegy chop head count lot overlap firms think enough room everyone trader another texas based energy firm said enron nation biggest buyer seller natural gas electricity dynegy fifth big enron measured terms revenue despite job uncertainty hanging heads traders said could name single enron dynegy trader actively scouting new employer everyone seems waiting see happens trader jobs open country right positions likely filled pretty quickly merger goes another trader said traders going looking work matter whether laid leave trader added far mostly enron support staff polishing resumes enron said wednesday analyst meeting company expects take charge severance fourth quarter however job cut numbers discussed baker said support staff feels jobs ones threatened proposed dynegy merger dynegy buying enron trading operation said confident best stick around upon completion merger combined company called dynegy inc expected revenues exceeding 200 billion 90 billion assets dynegy agreed buy larger cross town rival enron investors lost faith company whose stock plummeted following disclosure balance sheet deals partnerships run former chief financial officer stock 8 cents 0 8 percent 9 92 share close new york stock exchange trade wednesday well 52 week high 84 88 meanwhile dynegy stock fell 1 58 0 7 percent 46 20 share scott disavino new york power desk 646 223 6072 fax 646 223 6079 e mail scott disavino reuters com nigel hunt los angeles bureau 213 955 6752 copyright 2000 dow jones company inc rights reserved usa arbs tread lightly enron dynegy deal dane hamilton 11 14 2001 reuters english news service c reuters limited 2001 new york nov 14 reuters merger arbitragers say treading lightly betting prospects 9 billion stock swap takeover houston energy trader enron corp rival dynegy inc market pros bet likelihood merger completed say big questions enron financial condition raise doubts deal make shy risking heavy bets wednesday conference call enron officials investors little assuage say people nervous enron said one arb major new york brokerage sure enron actually earning anything arbs think deal eventually completed may short acquirer buy target stock reasoning acquirer stock fall target rise completion recent days enron stock languished dynegy stock gained 40 percent although close level month ago arbs said dynegy stock may risen could gain valuable pipeline assets whether deal completed enron said granted dynegy option buy northern natural gas pipeline system less 975 million deal falls apart months long due diligence review dynegy year look company worst dynegy comes away good deal said one arb even disaster come away valuable pipeline wall street high flyer boasting 90 share price 15 months ago enron fell grace balance sheet transactions financial reporting lapses prompted regulatory investigation senior official resignations looming debt collapsing share price led enron agree takeover smaller houston rival dynegy last week valued 10 41 share fraction former value enron officials wednesday said confident company close gaining clear picture financial condition following restatement earnings several years said securities exchange commission investigation could affect us go forward basis even commitments billions dollars cash enron said obtained recent days arbs worried customers buy sell energy contracts enron may abandoning company particularly longer term contracts enron officials said customers others getting comfortable short dated market energy market arbs said longer term customers may worry damaging disclosures may threaten financial viability may one wants long term agreements anymore enron said one arb like others asked named think completely open issue copyright 2000 dow jones company inc rights reserved usa update 1 enron ceo lay admits errors mea culpa 11 14 2001 reuters english news service c reuters limited 2001 adds analyst comment details lay compensation paragraphs 5 7 andrew kelly houston nov 14 reuters enron corp chairman chief executive ken lay wednesday acknowledged misjudgments errors pushed nation biggest energy trader brink collapse forced accept humbling buyout smaller rival dynegy inc stunning mea culpa analysts investors lay admitted enron made bad investments overburdened debt conducted deals led conflicts interest u regulatory investigation fully understand regret combination events resulted complete loss investor confidence fully committed fixing problems said lay act atonement came enron said decided waive right 60 million golden parachute part dynegy planned buyout following tense exchange employees severance package tuesday lay received base salary 1 3 million enron 2000 plus bonuses totaling 10 6 million also made several million dollars year exercising options selling enron stock prices mostly ranged 40 60 according enron filings ubs warburg analyst ron barone said lay candor could undo damage already done welcome nevertheless fact fessed step toward reestablishing credibility company barone said enron agreed friday taken dynegy 9 billion stock investor unease enron balance sheet deals drove stock price 7 last week high 90 56 august 2000 hindsight made bad investments non core businesses lay said 90 minute conference call many investments ill fated venture water services business power plant project india became mired payments dispute performed enron worst expectations lay said negative impact investments exacerbated extensive use debt capital balance sheet lay said deals enron partnerships run former chief financial officer andrew fastow produced various conflicts interest real perceived added fastow recently replaced deals partnerships investigation u securities exchange commission lay built enron dominant energy trading company north america europe formed merger two natural gas pipeline companies 1986 said core wholesale energy businesses fundamentally sound short term said enron focus preventing deterioration credit ratings maintaining sufficient liquidity keep energy businesses running enron president chief operating officer greg whalley said company expects recent woes temporary negative impact profitability whalley told analysts investors fourth quarter results would also adversely affected severance costs restructuring costs provide details said enron issue earnings guidance two three weeks reference severance costs first allusion job cuts widely viewed inevitable enron also said seeking additional 500 million 1 billion private equity help rebuild confidence company keep core trading operations afloat nine months acquisition dynegy expected close already received 1 5 billion cash oil company chevrontexaco corp owns 26 5 percent dynegy enron heavy fire wall street since mid october said shareholder equity cut 1 2 billion deals fastow partnerships dynegy said agreement enron would allow back acquisition company problems include stack lawsuits angry investors turn far worse already disclosed however dynegy chairman chief executive chuck watson said confident happen watson head combined company retain dynegy name dynegy dominate combined company senior management board directors lay said yet made mind whether accept watson offer seat board new company california public employees retirement system calpers largest u pension fund said place lay enron directors new dynegy board interests shareholders best served retiring current directors involvement enron successor entities said michael flaherman chairman calpers investment committee copyright 2000 dow jones company inc rights reserved enron receives dynegy 1 5 b cash infusion tues dyn ene christina cheddar dow jones newswires 11 14 2001 dow jones news service copyright c 2001 dow jones company inc new york dow jones dynegy inc dyn provided enron corp ene tuesday 1 5 billion cash infusion envisioned companies merger agreement dynegy spokeswoman said dynegy received preferred stock rights enron unit owns northern natural gas pipeline return investment cash infusion made assistance dynegy largest shareholder chevrontexaco corp cvx aimed providing enron additional cash liquidity support core energy marketing trading operations rights provide dynegy option acquire pipeline unit two companies fail complete merger deal still needs shareholder regulatory approval expected close within next six nine months dynegy acquiring enron 0 2685 dynegy share 10 billion based recent price dynegy shares acquisition enron smaller rival follows series disclosures enron financial dealings partnerships run corporate officers dealings investigation securities exchange commission center dozen shareholder lawsuits last month enron watched share price sunk small fraction earlier levels shareholder confidence trading company evaporated credit rating agencies began cut enron debt ratings threatening company investment grade status company scrambled raise additional cash shore balance sheet protect confidence business industry experts viewed dynegy cash infusion one way companies sought bolster confidence energy trader liquidity protect valuable business conference call earlier wednesday enron said core energy trading business temporarily hurt uncertainty created recent events according dynegy spokeswoman jennifer rosser preferred stock dynegy received investment enron convertible common stock enron pipeline unit dynegy also right convert preferred stock enron shares desires spokeswoman said example enron cancel merger dynegy order accept higher bid another suitor dynegy might decide convert preferred shares enron stock order reap profits created increase enron stock price rosser said either case dynegy required pay additional consideration dynegy able make cash infusion chevrontexaco san francisco made investment dynegy acquisition closes anticipated chevrontexaco owns one fourth dynegy plans make additional 1 billion investment combined company chevrontexaco also right purchase additional 1 5 billion dynegy stock first three years following close acquisition enron officials said monitoring energy market reaction cash infusion hopes restore confidence counterparties enron remains credit watch credit rating agencies moody investors service standard 201 938 5166 christina cheddar dowjones com copyright 2000 dow jones company inc rights reserved usa enron queried epa oil pipeline spills 11 14 2001 reuters english news service c reuters limited 2001 washington nov 14 reuters nation biggest energy trader enron corp already reeling bad investments much debt possible conflicts interest said wednesday government seeking information spills pipelines operated enron subsidiaries filing securities exchange commission houston based company said received request information environmental protection agency regarding certain spills discharges since 1998 oil pipelines operated enron subsidiaries eott energy partners llp subsidiary enron extensive domestic oil pipeline operations according filing enron response originally supposed filed epa later nov 7 received extension jan 31 eott predict outcome epa inquiry company said filing enron agreed friday taken dynegy inc 9 billion stock investor unease balance sheet deals drove stock price 7 last week high 90 56 august 2000 many investments ill fated venture water services business power plant project india became mired payments dispute performed enron worst expectations kenneth lay enron chairman chief executive officer said wednesday addition deals enron partnerships run former chief financial officer andrew fastow produced various conflicts interest real perceived added fastow recently replaced deals partnerships investigation sec enron shares 3 cents 9 96 dynegy lost 48 cents 46 46 afternoon trading new york stock exchange copyright 2000 dow jones company inc rights reserved enron sell money losing assets bid restore financial health 11 14 2001 dow jones business news copyright c 2001 dow jones company inc wall street journal online news roundup houston enron corp mighty energy trader shedding money losing assets focusing core power marketing business moves toward merger rival dynegy inc effort aimed improving enron financial health following disclosures company inflated profit figures reveal large amounts debt shareholders enron president chief executive kenneth lay told investors wednesday businesses enron ene wants sell include high speed internet unit power operations india brazil mr lay said performed far worse ever could imagined made investments hindsight made bad investments noncore businesses mr lay said conference call investors analysts last friday dynegy dyn said agreed buy enron deal worth 10 5 billion mr lay said company focusing conserving cash getting core businesses enron keep enron issues warning 4 th quarter results enron executives also said expect company fourth quarter earnings hurt ongoing financial problems provide details said would issue outlook fourth quarter earnings two weeks addition company said file quarterly report third quarter securities exchange commission wednesday expected jeff mcmahon enron newly appointed chief financial officer said company expects make filing five days late regulatory guidelines publicly traded companies 45 days end fiscal quarter file financial results sec enron reported third quarter earnings mid october yet make filing sec filing would include enron balance sheet past enron received criticism providing balance sheet quarterly earnings release enron officials call declined provide specific details company current cash position information included balance sheet dynegy agreed buy enron energy trading giant stock price plunged 80 weeks following enron posting 618 million third quarter loss dynegy also assume 13 billion enron debt slide enron share price primarily result large scale transactions partnerships headed enron officers transactions produced hundreds millions dollars write offs restatements past month investigated sec helped spawn dozen shareholder lawsuits enron ousted chief financial officer andrew fastow ran partnerships restated earnings back 1997 actions failed restore investor confidence could ever contemplated events company stakeholder faced last several weeks mr lay said wednesday resulted complete loss investor confidence fully committed fixing problems enron executives say many company 20 000 employees world wide would lose jobs businesses sold process said could take months debt balances high need raise cash mr mcmahon said mr lay said cash gained asset sales also would support core businesses enron country top buyer seller natural gas 1 wholesale power marketer company operates 25 000 mile gas pipeline system also markets trades metals paper coal chemicals fiber optic bandwidth dynegy purchase enron triggered clause mr lay contract giving 20 2 million full calendar year remaining contract change control enron mr lay told enron employees accept money total 60 6 million upon completion merger said nothing decision wednesday conference call enron spokesman vance meyer said compensation package mr lay contract since 1989 merger related payment mr lay eligible enron dynegy spokesman john sousa said company unsure whether mr lay receive retirement package dynegy executives said hope complete acquisition enron next summer enron name vanish deal completed chuck watson dynegy chairman chief executive retain roles combined company mr lay role day day management offered seat combined company board merger agreement enron retains right designate three directors combined company far enron president chief operating officer greg whalley designated new company executive vice president enron spokeswoman karen denne said enron yet designate two appointees tuesday california public employees retirement system board administration announced would oppose appointment enron board member combined company charging enron board may failed adequately monitor corporate officers calpers owns three million shares enron also owns shares dynegy copyright c 2001 dow jones company inc rights reserved copyright 2000 dow jones company inc rights reserved cohen milstein hausfeld toll p l l c announces class action suits enron corporation expanded class periods 11 14 2001 business wire copyright c 2001 business wire washington business wire nov 14 2001 following notice issued law firm cohen milstein hausfeld toll p l l c behalf client along firms previously filed lawsuit united states district court southern district texas houston division behalf purchasers common stock enron corporation enron company nyse ene complaint alleges defendants violated section 10 b securities exchange act 1934 exchange act rule 10 b 5 promulgated thereunder defendants wrongful conduct artificially inflated price enron common stock class period prior complaints charged 2000 2001 defendants misrepresented concealed material facts concerning company financial transactions two partnerships established enron chief financial officer resulted substantial losses enron reduction shareholders equity 1 billion result company november 8 2001 announcements however class period extended encompass purchasers enron common stock october 19 1998 november 7 2001 november 8 2001 prior markets opening enron announced restating financial results 1997 1998 1999 2000 first two quarters 2001 correct errors inflated enron net income hundreds millions dollars years audit reports years relied upon upon disclosures enron stock dropped 8 41 per share november 8 2001 class period high 90 plaintiff counsel cohen milstein hausfeld toll p l l c significant experience prosecuting investor class actions actions involving financial fraud firm offices washington c seattle washington new york new york active major litigation pending federal state courts throughout nation firm reputation excellence recognized repeated occasions courts appointed firm lead positions complex multi district consolidated litigation cohen milstein hausfeld toll p l l c taken lead role numerous important cases behalf defrauded investors responsible number outstanding recoveries aggregate total hundreds millions dollars purchased shares enron stock class period may move court later december 21 2001 serve lead plaintiff class order serve lead plaintiff must meet certain legal standards questions notice action regard rights please contact either following andrew n friedman esq mary ann fink cohen milstein hausfeld toll p l l c 1100 new york avenue nw west tower suite 500 washington dc 20005 telephone 888 347 4600 202 408 4600 e mail afriedman cmht com mfink cmht com contact cohen milstein hausfeld toll p l l c andrew n friedman esq mary ann fink afriedman cmht com mfink cmht com 888 347 4600 202 408 4600 12 50 est november 14 2001 copyright 2000 dow jones company inc rights reserved enron says 4 th qtr earnings cut lost business update 6 2001 11 14 16 13 new york enron says 4 th qtr earnings cut lost business update 6 updates closing share prices 12 th paragraph houston nov 14 bloomberg enron corp averted bankruptcy last week agreeing buyout dynegy inc said fourth quarter earnings lowered severance payments reorganization costs drop energy trading business enron say many jobs plans cut expenses trading volumes declined last week soon tell company recover lost business chief operating officer greg whalley said conference call investors traders including mirant corp aquila inc said shifted transactions away enron plunging stock price prompted concerns creditworthiness business affected last month enron chief executive officer kenneth lay said going go back basics focus core energy business company provide detailed fourth quarter earnings projection two three weeks lay said dynegy ceo charles watson agreed friday acquire bigger rival enron transaction valued 24 billion said confident enron trading business sound greater acceptance enron criticized investors seen market value plunge recent weeks concerns using affiliated partnerships mask losses hide debt dynegy buying enron 9 27 billion stock 15 billion assumed debt companies based houston since buyout announced enron seeing greater acceptance u europe financial situation short term markets whalley said may couple weeks give comfort longer dated customers hopefully move normal levels near future enron said five days late filing third quarter earnings statement securities exchange commission filing supposed today company also provide details earnings fourth quarter previous periods chief financial officer jeffrey mcmahon said enron spokesman mark palmer declined provide details job cuts anything say layoffs going say employees first said dynegy spokesman john sousa said know number job cuts cost severance enron fourth quarter shares enron rose 2 cents 10 dynegy fell 74 cents 46 20 chevrontexaco corp owns 26 percent dynegy declined 3 55 86 62 providing detail enron criticized investors providing enough information makes money company expected earn 45 cents share fourth quarter average estimate analysts polled thomson financial first call third quarter enron 618 million loss failed investments water telecommunications retail energy sales cost company 1 01 billion investors expected enron fourth quarter earnings cut recent events said kathleen vuchetich helps manage 1 4 billion strong american utilities fund owns 284 000 dynegy shares hurt credibility said otherwise vuchetich said 1 5 billion enron said received 1 5 billion cash yesterday chevrontexaco part dynegy buyout agreement return dynegy acquire preferred stock rights enron unit owns northern natural gas pipeline merger completed dynegy right acquire northern natural gas enron said today filing securities exchange commission chevrontexaco second largest based u oil company provide dynegy another 1 billion merger closes mcmahon also said company talks several private investors company expects receive 500 million 1 billion sources mcmahon said debt balance high need raise equity capital mcmahon said environment raise public equity capital efficiently need go sources company said accelerating attempts sell non core assets investment indian power plant broadband telecommunications network enron 8 billion invested businesses may take long year get rid broadband business whalley said hindsight made bad investments lay said turned far worse ever imagined lay enron chairman since february 1986 entitled receive severance package 60 million dynegy took enron lay decided yesterday waive payment cauley geller bowman coates llp expands class period class action lawsuit enron corp 11 14 2001 business wire copyright c 2001 business wire little rock ark business wire nov 14 2001 law firm cauley geller bowman coates llp announced today class action filed united states district court eastern district texas texarkana division behalf purchasers enron corp enron company nyse ene common stock period january 18 1999 november 8 2001 inclusive class period copy complaint filed action available court viewed firm website http www classlawyer com pr enron pdf complaint charges enron certain officers directors violations federal securities laws november 8 2001 enron announced would restate 1997 1998 1999 2000 lq 2 q 2001 results various income statement balance sheet adjustments required result enron determination three unconsolidated entities consolidated financial statements pursuant generally accepted accounting principles gaap caused enron 1997 2 q 2001 income assets materially overstated throughout 1999 2000 price enron common stock substantially increased rising 32 50 per share january 18 1999 83 125 per share december 29 2000 complaint alleges substantial basis huge gain company allegedly false misleading reports ever increasing revenues profits effect restatement dramatic rather earning 698 million 1 01 per share 1998 enron restated earnings fell 585 million 0 86 per share net income lowered 186 million 1999 eps dropped 1 10 0 79 net income lowered 132 million 2000 eps correspondingly fell 1 12 0 97 restatement increased enron debt 561 million 1998 685 million 1999 629 million 2000 shareholder equity reduced 448 million 1998 834 million 1999 1 16 billion 2000 1 226 billion first quarter 2001 929 million second quarter 2001 class period enron insiders disposed 73 million personally held enron common stock unsuspecting investors bought enron common stock january 18 1999 november 8 2001 inclusive wish serve lead plaintiff must move court later december 21 2001 member class join class action online http www classlawyer com sign _ html member purported class may move court serve lead plaintiff cauley geller bowman coates llp counsel choice may choose nothing remain absent class member cauley geller bowman coates llp substantial experience representing investors securities fraud class action lawsuits firm offices florida arkansas california represents investors throughout nation questions may able recover losses would like consider serving one lead plaintiffs lawsuit encouraged call e mail firm visit firm website www classlawyer com cauley geller bowman coates llp investor relations department jackie addison sue null shelly nicholson toll free 1 888 551 9944 e mail info classlawyer com contact cauley geller bowman coates llp charlie gastineau sue null 888 551 9944 16 46 est november 14 2001 copyright 2000 dow jones company inc rights reserved fitch cinergy rating outlook negative 11 14 2001 business wire copyright c 2001 business wire new york business wire nov 14 2001 fitch inc changed outlook cinergy cin bbb senior unsecured debt negative stable due increased leverage planned environmental compliance expenditures cinergy parent holding company cincinnati gas electric company cge psi energy inc psi fitch rates senior secured debt negative outlook reflects rise debt leverage due mainly acquisition two natural gas fired generating units enron corp march 2001 sept 30 2001 debt 63 total capitalization 59 56 end fiscal years 2000 1999 respectively acquisition consists enron 494 megawatt brownsville generation facility located haywood county tennessee 504 megawatt caledonia generation facility located lowndes county mississippi reduce leverage cin plans use proceeds non core asset sales reduce debt reinstitute issuance new shares meet obligations dividend reinvestment plan various employee stock plans debt reduction successful outlook could return stable capital requirements related cin compliance environmental regulations also concern september 2000 cin announced plan subsidiaries spend 800 million system wide following five years install pollution control equipment reduce nox emissions majority expenditures incurred psi regulated integrated utility recovered rates company also reached tentative agreement environmental protection agency parties reduce 2 emissions shutting powering natural gas several coal fired boilers installing scrubbers pollution control systems several sites agreement finalized would require cin spend additional 700 million mostly 2008 2013 cin ratings also take account significant earnings cash flow contribution regulated utility businesses revised business strategy non regulated businesses less aggressive appropriate mid size company new strategy emphasizes regional asset based energy trading marketing customer led origination regulated utility operations large amount cin non regulated revenue derived contractual sales subsidiaries cge union light heat power company cge electric restructuring plan provides substantial transition cost recovery allows company transfer generating facilities cge plans transfer generating assets cin non regulated affiliate cinergy wholesale energy inc another cin subsidiary psi remains vertically integrated regulated company restructuring expected mid term regulated operations provide 55 earnings cin subsidiaries cge psi provides electric gas service ohio kentucky indiana 1 5 million electric 500 000 gas customers company also growing merchant energy business owns 13 000 megawatts generation contact fitch new york orli almog 212 908 0894 robert hornick 212 908 0523 14 48 est november 14 2001 copyright 2000 dow jones company inc rights reserved