text_combined: enron mentions 11 05 01 enron transaction raises new questions company executive ran entity received 35 million march wall street journal 11 05 01 enron financial reports reveal enron short seller detected red flags regulatory filings wall street journal 11 05 01 enron financial reports reveal auditor could face scrutiny clarity financial reports wall street journal 11 05 01 enron offers questions realmoney com 11 05 01 companies finance international unions seek reform enron financial times 11 05 01 usa enron made 35 mln purchase co run officer wsj reuters english news service 11 05 01 enron made 35 mln usd purchase entity run officer company report afx news 11 05 01 enron transaction entity run executive raises questions dow jones business news 11 05 01 enron may sell assets national post 11 05 01 enron indian unit serves asset transfer notice mseb dow jones international news 11 05 01 uk u stocks edge higher europe futures firm reuters english news service 11 05 01 bg technically qualified operate enron india fields dow jones energy service 11 05 01 uk press us unions call corp reform enron dow jones international news 11 05 01 india enron india lenders discuss 2 9 bln project reuters english news service 11 05 01 enron starts valuing india unit claim canceled power pact bloomberg 11 05 01 enron talks sell 50 stake korean gas unit update 3 bloomberg 11 05 01 enron transaction raises new questions company executive ran entity received 35 million march john r emshwiller staff reporter wall street journal 11 05 2001 wall street journal 3 copyright c 2001 dow jones june 30 63 4 billion messrs kopper fastow extensive involvement organization investment activity operations jedi according 1999 ljm 2 private offering memorandum jedi invested 2 1 billion 63 separate transactions document said accounting jedi 500 million equity indicates partnership borrowed much 1 6 billion 1997 calpers sold interest jedi back enron 375 million time calpers put 500 million new enron partnership known jedi ii point enron could held jedi probably would entailed consolidating partnership debts company financial statements apparently chewco came chewco got name says one person familiar matter character chewbacca star wars movies jedi warriors also roamed chewco bought enron jedi interest formerly held calpers according documents interviews determined terms transaction however fact chewco shows debtor jedi texas state filing suggests money purchase borrowed jedi available information chain transactions raises questions separate jedi chewco really enron whether jedi assets liabilities folded company financial statements march 2000 sec filing enron makes brief reference new jedi partner enron identify presumably chewco filing said officer enron invested limited partner jedi time time acts agent behalf limited partner management officer named description similar given mr kopper relation chewco ljm 2 offering memorandum march year enron moved purchase balance jedi already sec filing earlier year enron said acquired 35 million limited partner interests jedi partner named presumably chewco enron consolidated jedi assets liabilities company sec filing said jedi holdings included 12 million shares enron stock enron said also paid 620 million jedi third party debt third party parties named jedi journey 1993 enron california public employees retirement system calpers form jedi limited partnership commit 250 million make energy investments 1997 enron purchases calpers share jedi 375 million resells entity believed chewco investments chewco formed 400 million capital commitments run enron officer purchase enron assets 2001 enron repurchases jedi consolidates company copyright 2000 dow jones company inc rights reserved heard street enron financial reports reveal enron short seller detected red flags regulatory filings cassell bryan low suzanne mcgee staff reporters wall street journal 11 05 2001 wall street journal cl copyright c 2001 dow jones immediate comment friday enron shares trading six times company book value late 2000 comparison wall street brokerage firms typically trade two three times book value hedge funds effect priced book value among pages 1999 report mr chanos marked yellow post notes scribbled comments one detailing related party transactions underlined sentence stating one enron senior officers managing member private investment company enron entered series transactions read disclosure understand read footnotes living says time concedes odd footnote us started telephoning analysts wall street firms determine aspects bulls case missing heard excited part bullishness focused enron strategy trading broadband network capacity mr chanos already placed bearish bets telecommunications bandwidth providers convinced industry already suffered overcapacity situation would get worse conclusion enron see looming train wreck coming telecom else missing maybe infallible energy area people thought another warning signal insider stock sales second half 2000 says sat awkwardly common refrain wall street analysts investors trust management given difficulty analyzing earnings derived company immediately comment sales friday look patterns business says mr chanos fact trust story management voting feet another check smoking gun certainly saw reason perhaps trust management word earnings said factors led mr chanos begin shorting stock late november last year fluctuating 65 80 provide details overall level short interest short selling positions yet closed enron shares jumped 2 2 million shares 7 9 million shares month mid december period previous month red flags surfaced february mr chanos short sellers significantly ramped bearish positions mr chanos first discussed view enron outside firm month miami hosted annual bears hibernation conference attendees bring two ideas present one enron enron stock trading 72 time roughly 40 times 2001 per share earnings estimates market priced perfection mr chanos told 25 attendees whereas looks like things may anything back new york mr chanos arranged second round sessions bullish analysts thesis told missing mr chanos came meetings heightened conviction right one thing sensed frustration brewing level trust required enron spring progressed mr chanos became increasingly confident adding short position widely reported conference call april jeffrey skilling enron chief executive responded another short seller criticism enron provided balance sheet calling ah first time got sense company getting tough questions happy mr chanos says part wall street analysts argue limited time resources depth research mr chanos prefers many cover dozens companies still say learned lessons enron fall grace salomon smith barney analyst raymond niles one says pursue warning signs relentlessly go gut instinct senses looming problem says mr niles covers enron think shorts play valuable role market reminding us go wrong see related article auditor could face scrutiny clarity financial reports wsj nov 5 2001 copyright 2000 dow jones company inc rights reserved enron financial reports reveal auditor could face scrutiny clarity financial reports jonathan weil staff reporter wall street journal 11 05 2001 wall street journal cl copyright c 2001 dow jones company inc enron corp independent auditor arthur andersen llp job making sure houston energy trader financial statements accurate complete material respects also understandable really tricky part understandable andersen academic question accounting practices one big five firm prized clients come intense scrutiny regulators shareholders questions could well turn whether andersen fulfilled obligation protect investors interests important focus likely whether andersen required enron better explain dealings partnerships run former chief financial officer andrew fastow agreeing bless company financial statements enron revealed last month conference call shareholder equity fallen 1 2 billion third quarter result transactions partnership controlled mr fastow least times involved fueling steep dive stock price amid growing concerns company financial health many wall street analysts including die hard enron bulls long grumbled parts enron financial statements indecipherable heart disclosure intelligibility says alan bromberg professor securities law southern methodist university dallas people addressed understand adequately disclosed clearly qualitative well factual component disclosure generally accepted accounting principles rules disclosing related party transactions seem straightforward enough among things companies must describe information deemed necessary understanding effects transactions financial statements nation accounting standard setters never offered clear guidance whether companies disclosures understandable broad audience merely financially sophisticated individuals specialized training even sophisticated investors prone stumped sure adequacy company related party disclosures determined information transactions open part enron hardly large energy company complex partnership dealings maintains balance sheet transactions legal properly disclosed comply reporting requirements says enron spokeswoman karen denne adding andersen aware transactions reviewed extent investor understand able ask questions end notes investors understand transactions buy enron stock enron disclosure practices stand however source complaints long even top flight accounting professors say make heads tails company transactions mr fastow enron motives entering figure raises question whether outsider could one thing certain stakes andersen could high since enron disclosure reduction shareholder equity stock plunged 67 11 30 4 p new york stock exchange composite trading friday drop wipes 20 billion company market value potentially exposing enron andersen massive shareholder liability already enron dealings partnerships subject formal investigation securities exchange commission creates possibility andersen could become focus probe point regulators find enron accounting disclosure practices deficient meanwhile law firm special committee set enron board hired accounting firm deloitte touche llp help review partnerships activities andersen spokesman david tabolt says firm continue cooperate enron special committee lawyers accounting advisers also cooperate official investigations requested far says sec told andersen subject enron probe beyond declines comment enron citing client confidentiality obligations murky related party disclosures enron audited financial statements summary section enron 2000 year end financial statements describing certain transactions fastow operated partnerships company said transferred assets valued 1 2 billion including 150 million notes payable 3 7 million restricted enron shares right receive many 18 million enron common shares march 2003 subject certain conditions also transferred partnerships assets valued 309 million including 50 million note payable investment entity indirectly holds warrants convertible common stock enron equity method investee return enron said received economic interests entities 309 million notes receivable additional 1 2 billion notes receivable part special distribution disclosure went mention series purchases enron share settled options entities shares enron common stock raw numbers may objective person would hard pressed understand effects disclosures financial statements says douglas carmichael accounting professor baruch college new york quality disclosure low creates uncertainty quality accounting says enron explanation entered transactions seems defy imagination year end financial statement enron said purpose hedge certain merchant investments assets category includes energy assets whose values prone wide price fluctuations yet disclosure shows enron chose use shares options stock chief hedging instrument even though price movements appear directly related value investments enron trying hedge see possibly hedges enron risks assets mr carmichael says indeed disclosures given rise widespread speculation enron actual purpose use balance sheet transactions shift losses books avoid running income statement asked whether enron purpose ms denne declines comment says enron stands earlier statement enron trying hedge certain investments date andersen named defendant numerous shareholder lawsuits filed enron paid andersen 52 million last year including 25 million audit fees enron woes come year already filled embarrassments andersen june sec fined andersen three partners 7 million audits waste management inc financial statements largest sec fine ever accounting firm andersen neither admitted denied sec fraud allegations paid 75 million 1998 settle portion shareholder lawsuit houston based garbage hauler also year without admitting wrongdoing andersen agreed pay 110 million settle shareholder lawsuit audits conducted sunbeam corp see related article heard street enron short seller detected red flags regulatory filings wsj nov 5 2001 copyright 2000 dow jones company inc rights reserved enron offers questions james j cramer realmoney com 11 05 2001 08 10 est url journalists enron ene nyse news commentary story seem oblivious big issue enron need partnerships first place issue reason would set perfectly legal partnerships keep calling hide something would trying hide let step aside second ask hypotheticals information market might want something information want anyone know example let say access trading information electricity going access grid might able take advantage information book partnership would need book partnership want people took data thinking taking advantage data knew market squeezed upward wanted facilitate squeeze could buy electricity keep say california rates went dump california squeeze complete might want make bucks side want share shareholders needed something special something hidden shareholders make bucks parent company know anything partnerships people running living large without much oversight parent company worried credit rating wanted hide debt know someone come better reasons would someone come something nefarious please email want know anyone would good reason would appreciate shareholders companies finance international unions seek reform enron sheila mcnulty 11 05 2001 financial times c 2001 financial times limited rights reserved afl cio federation us trade unions calling sweeping governance reform measures enron embattled energy trader restore investor confidence amid probe federal regulators finances america working families significant shareholders enron stock pension health welfare benefit funds said afl cio american federation labor congress industrial organizations union sponsored funds afl cio represents 13 americans hold 3 1 enron shares amalgamated bank trustee long view funds holds 251 304 enron shares also joined call corporate reform funds investment trusts managing equity assets behalf workers pension funds two first big shareholders make demands enron since crisis confidence company began october 16 surprise disclosure 1 2 bn balance sheet adjustment said mandate special committee created enron board examine transactions question liaise securities exchange commission investigation narrow want committee examine transactions entities enron employees directors interest adopt procedures reviewing insider participation investments start extraordinary review executive compensation adopt stricter definition director independence finally disclose director conflicts interest c copyright financial times ltd rights reserved http www ft com copyright 2000 dow jones company inc rights reserved usa enron made 35 mln purchase co run officer wsj 11 05 2001 reuters english news service c reuters limited 2001 new york nov 5 reuters enron corp made 35 million purchase entity run company officer raising new questions financial dealings management wall street journal reported online edition monday report comes former wall street high flyer faces full scale probe u regulators questionable financial dealings company market value fallen 17 billion less three weeks journal said enron officer involved transaction michael kopper former managing director company enron north america unit company receiving money chewco investments lp said kopper associate andrew fastow company former chief financial officer linked transactions investigation government regulators 1999 two set private partnership known ljm 2 co investment lp involved billions dollars transactions enron according private partnership documents company sec filings paper said chewco mentioned brief biography kopper part 1999 offering memorandum ljm 2 partnership journal said document said kopper besides principal ljm 2 manages general partner chewco investment fund approximately 400 million capital commitments established 1997 purchase enron interest defined pool enron assets paper said kopper return phone calls seeking comment enron officials discuss transaction paper said copyright 2000 dow jones company inc rights reserved enron made 35 mln usd purchase entity run officer company report 11 05 2001 afx news c 2001 afp extel news ltd washington afx enron corp march made 35 mln usd purchase entity run company officer wall street journal reported payment appears last step series transactions allowed company keep hundreds millions dollars debt balance sheet past three years newspaper said based interviews others familiar matter extracts enron sec filings private partnership documents enron officer involved transaction michael kopper former managing director enron north america unit entity receiving 35 mln usd chewco investments lp clear available information form payment took gain chewco kopper realized kopper company spokesman says left enron july associate andrew fastow company chief financial officer last month set subsequently ran ljm 2 co investment lp private partnership involved billions dollars transactions enron according official filings enron officials said repeatedly actions legal properly disclosed declined discuss 35 mln usd transaction jms information contact afx www afxnews com www afxpress com copyright 2000 dow jones company inc rights reserved enron transaction entity run executive raises questions 11 05 2001 dow jones business news copyright c 2001 dow jones june 30 63 4 billion messrs kopper fastow extensive involvement organization investment activity operations jedi according 1999 ljm 2 private offering memorandum jedi invested 2 1 billion 63 separate transactions document said accounting jedi 500 million equity indicates partnership borrowed much 1 6 billion copyright c 2001 dow jones company inc rights reserved copyright 2000 dow jones company inc rights reserved financial post news enron may sell assets reuters 11 05 2001 national post national fp 3 c national post 2001 rights reserved new york struggling energy giant enron corp may sell power plants pipelines even energy trading assets seeks head credit crunch restore investor confidence investment bankers said yesterday houston based enron lined us 1 billion new credit last thursday still suffered second credit rating cut amid concerns questionable financial transactions triggered investigation u securities exchange commission deteriorating picture including drop almost 70 share price less month close watchers company saying probably break stay independent refocus core strengths get businesses said one investment banker close enron copyright 2000 dow jones company inc rights reserved enron indian unit serves asset transfer notice mseb 11 05 2001 dow jones international news copyright c 2001 dow jones 91 11 461 9426 himendra kumar dowjones com copyright 2000 dow jones company inc rights reserved uk u stocks edge higher europe futures firm 11 05 2001 reuters english news service c reuters limited 2001 london nov 5 reuters u shares edged higher european trade monday index futures pointed higher opening wall street amid expectations rate cut week december futures tech heavy nasdaq composite rose 14 points 1 446 5 1200 gmt equivalent p 500 contract 4 9 points 1 094 4 seen buying interest morning futures higher looking higher opening wall street said one dealer london investors betting federal reserve would cut interest rates another half point meeting tuesday bid support weakening economy struggling energy giant enron corp stood 11 65 fallen six percent friday 11 27 sunday uk independent reported energy giant royal dutch shell group may mount 11 billion bid enron investment bankers said enron may sell power plants pipelines even energy trading assets seeks head credit crunch restore investor confidence cisco systems inc makes networking gear helps power internet rose 17 75 close 17 26 sun microsystems inc edged 11 65 11 44 stocks little changed hours trading friday amid dearth earnings news blue chip stocks rose regular session investors looked past huge job losses bet recovery next year stericycle inc rose 49 90 hours close 49 01 nasdaq medical waste management provider reported rise third quarter net profit networking equipment makers juniper networks dropped sharply news voice data services firm qwest communications international inc halted work network analysts said dow jones industrial average rose 0 64 percent end 9 323 54 tech heavy nasdaq composite fell 0 03 percent 1 745 73 national association purchasing management releases october non manufacturing index 1500 gmt economists reuters survey average forecast reading 45 9 versus 50 2 september copyright 2000 dow jones company inc rights reserved bg technically qualified operate enron india fields 11 05 2001 dow jones energy service copyright c 2001 dow jones company inc singapore dow jones u k oil gas company bg group plc brg reiterated monday claim operator status indian upstream assets enron corp ene saying best qualified due upstream technical experience bg paid us 388 million enron 30 stake oil gas fields offshore western india october sale subject number consents conditions including confirmation enron gas india joint venture partners oil 65 415 4066 sri jegarajah dowjones com copyright 2000 dow jones company inc rights reserved uk press us unions call corp reform enron 11 05 2001 dow jones international news copyright c 2001 dow jones 44 0 20 7842 9320 copyright 2000 dow jones company inc rights reserved india enron india lenders discuss 2 9 bln project 11 05 2001 reuters english news service c reuters limited 2001 bombay nov 5 reuters lenders indian power plant majority owned troubled enron corp meet singapore u energy giant discuss 2 9 billion project banking source said monday houston based enron seeking head credit crunch restore investor confidence damaged credit rating cut u authorities began investigating financial transactions meeting singapore weekend examine offers two indian companies put forward buy enron 65 percent stake dabhol power company dpc building controversial project banking source told reuters meeting gauge interest two bidders source said enron talks tata power india largest private electricity firm bses ltd selling stake deal works well recent crisis confidence bses tata power officials immediately available comment enron assets dabhol estimated worth 870 million analysts said blinks first matter blinks first said one banker familiar negotiations given enron recent troubles expect sell substantial discount sources lending banks told reuters enron willing sell holding dabhol power 10 15 percent discount enron spokesman said unable comment august houston based enron said foreign partners ready sell stakes dabhol less 1 0 billion amount said sufficient cover costs direct financial investment project enron deteriorating position including drop almost 70 percent share price less month close watchers company saying probably break stay independent analysts say enron lined 1 billion credit last thursday may sell power plants pipelines energy trading assets company could also object takeover bid bitter dispute first phase controversial 2 184 mw dabhol power plant india largest foreign direct investment completed work second phase abruptly stopped june following bitter dispute enron plant sole buyer loss making indian utility meeting singapore take place days expiry enron six month notice utility expressing intention terminate power purchase agreement contract governs terms sale power dabhol state run maharashtra state electricity board mseb nearly bankrupt power distribution monoply state plant located november 19 enron entitled terms contract submit dispute binding arbitration international court arbitration london u conglomerate general electric construction firm bechtel corp 10 percent project remaining 15 percent held mseb copyright 2000 dow jones company inc rights reserved enron starts valuing india unit claim canceled power pact 2001 11 05 06 31 new york enron starts valuing india unit claim canceled power pact mumbai nov 5 bloomberg dabhol power co runs enron corp 3 billion power plant said started valuing assets assess claim cancellation sales contract maharashtra state electricity board unpaid bills enron may 19 issued first notice cancel power supply contract board six months unless bills paid deadline ends nov 19 enron owns 65 percent dabhol power india biggest foreign investment wants exit venture owed 64 million board sole customer bills paid ten months board may stopped buying power saying expensive dpc left little choice serve transfer notice mseb draws us closer final termination power purchase agreement ultimate recovery damages company said statement called asset transfer notice starts process valuing dabhol assets followed cancellation power supply contract enron began looking sell stake government appointed panel negotiators failed get buyers plant power enron invested 875 million project offered sell stake government cost industrial development bank india local banks lent 1 4 billion project begun looking buyer plant greatest risk enron pulls loans guaranteed federal government general electric capital closely held bechtel group together 20 percent dabhol electricity board owns remaining 15 percent ravil shirodkar mumbai newsroom 91 22 233 9029 enron talks sell 50 stake korean gas unit update 3 2001 11 05 02 57 new york enron talks sell 50 stake korean gas unit update 3 adds analyst comments fourth paragraph closes shares final paragraph seoul nov 5 bloomberg enron corp lost 86 percent market value year talks sell half stake natural gas joint venture sk corp official korea top oil refiner said official declined named said talks taken place since least august give details enron said 1998 gas distribution venture sk would capitalization 450 million enron officials immediately available comment world largest energy trader facing difficulties raising cash u securities exchange commission started investigating partnerships run former chief financial officer long term credit rating cut standard poor second lowest investment grade bbb bbb enron probably sell korean operations loss financial problems said lee kwang hoon analyst good morning securities co seoul enron difficulties raising funds may prompt pull overseas ventures except china said goldman sachs group inc refused participate 1 billion loan enron unwilling risk capital client falling credit ratings using investment banking services less often according people familiar matter enron selected goldman sachs manage negotiations sell korean gas assets sent investment guide letters companies may interested korea oil news reported today citing people name foreign companies interested include el paso corp bp plc exxon mobil corp report said sk preferential right negotiate stake may buy back enron share report cited unnamed sk official saying enron plans receive letters intent interested companies end november conclude sale end year early next year report said korea oil news published state run korea national oil corp sk corp shares rose 300 2 6 percent 12 000 enron shares friday fell 69 cents 5 6 percent 11 30 youngsam cho ycho 2 bloomberg net seoul 822 3702 1639 rb