enron mentions congressional panels probe enron accounting trading bloomberg 11 29 01 nymex tells members enron trades must approved update 2 bloomberg 11 29 01 dynegy ceo says rather enron pipeline 1 5 bln bloomberg 11 29 01 italian banks fall concern enron exposure update 2 bloomberg 11 29 01 argentine analysts perez companc comment tgs enron bloomberg 11 29 01 duke williams among companies facing enron losses update 2 bloomberg 11 29 01 enron problems industry problems felsinger tells cnbc bloomberg 11 29 01 california senator dunn comments possible enron bankruptcy bloomberg 11 29 01 cibc says owed 215 million cash strapped trader enron bloomberg 11 29 01 intelligent asset author bernstein comments 401 k plans bloomberg 11 29 01 enron corp fourth busiest day u stock table bloomberg 11 29 01 enron corp poised file largest ever bankruptcy update 3 bloomberg 11 29 01 congressional panels probe enron accounting trading 2001 11 29 15 59 new york congressional panels probe enron accounting trading washington nov 29 bloomberg senate house committees investigate collapse enron corp consider new regulations electricity natural gas trading enron largest energy trader expected file chapter 11 protection collapse planned merger dynegy inc house energy committee hold hearings early next month scrutinize accounting practices earnings reports enron said ken johnson panel spokesman senate energy committee may begin looking january federal oversight trading spectacular event collapse company controlled 50 percent natural gas electricity trading going thoughts said bill wicker spokesman senate energy committee enron importance energy trading questions accounting practices require investigation said senate majority leader tom daschle south dakota know anybody knows yet happened happened quickly told reporters capitol hill raises serious questions unraveling enron saddled 15 billion publicly held debt began october shareholders equity reduced 1 2 billion way company accounted outside partnerships created announcement prompted lawsuits investigation u securities exchange commission nymex tells members enron trades must approved update 2 2001 11 29 15 16 new york nymex tells members enron trades must approved update 2 adds analyst quote fourth paragraph enron share price sixth paragraph new york nov 29 bloomberg new york mercantile exchange president j robert collins told brokers largest energy exchange trading floor could accept orders enron corp unless receive written authorization exchange clearing member order effective immediately remain effect notice exchange according fax collins sent today member firms copy fax obtained bloomberg news exchange officials immediately return phone calls enron worsening financial condition made many clearing members back trades exchange fee wary taking additional business enron nymex order aims alert independent floor brokers clearing members freely accepted enron trades may longer willing analysts said nymex reminding everyone business usual comes enron said tim evans senior energy analyst ifr pegasus new york unit thomson corp enron mean slower order execution enough handicaps already enron may forced file bankruptcy liquidate assets pay 15 billion publicly held debt analyst said enron shares fell 24 cents 37 cents afternoon trading 80 beginning year covering enron debts exchange rules clearing members would forced cover enron obligations firm defaulted positions many energy traders including rivals mirant corp aquila inc already reduced number trades enron counter markets involve direct trades companies carry financial guarantees regulated commodity exchanges new york exchange yesterday said raise margins natural gas crude oil futures contracts close trading today margins deposits traders must make exchange buying selling futures contracts ensure obligations met exchange gave reason increase decision followed day wide changes natural gas prices swings began dynegy inc abandoned plans purchase enron biggest gas trader dynegy ceo says rather enron pipeline 1 5 bln 2001 11 29 14 56 new york dynegy ceo says rather enron pipeline 1 5 bln houston nov 29 bloomberg dynegy inc chairman chuck watson said would rather take enron pipeline get back 1 5 billion investment entitles dynegy line watson said dynegy expects take operation 16 500 mile northern natural pipeline system dec 19 chevrontexaco corp owns 26 percent dynegy gave enron 1 5 billion help cash strapped company stay business investment part dynegy plan buy enron backed northern natural system dynegy backed merger yesterday said would exercise right take line watson said hopes northern natural employees continue operate pipeline dynegy takes ownership italian banks fall concern enron exposure update 2 2001 11 29 14 20 new york italian banks fall concern enron exposure update 2 closes shares second paragraph adds analyst comment eighth estimates exposure 10 th milan nov 29 bloomberg intesabci spa unicredito italiano spa shares fell investors concern italian banks may recoup money lent units enron corp largest u energy trader goes bankrupt intesabci italy biggest bank fell 2 4 percent 2 75 euros unicredito 2 lender lost 1 9 percent 4 24 euros banca nazionale del lavoro spa nation sixth largest bank dropped 1 4 percent 2 55 theme day sell banks exposed enron said daniele savare helps manage 120 million euros 106 million bipielle asset management cases reaction may bit overdone dynegy inc yesterday abandoned proposed merger enron leaving houston based company burdened debt likelihood insolvency analysts said bankruptcy inevitable may come early today bankruptcy filing enron reported 61 billion assets would biggest chapter 11 reorganization history heard intesa exposed tune 400 billion 500 billion lire 183 million 229 million said gianluca ferrari helps manage 260 million euros stocks banca valsabbina brescia gabrio gelmi intesa spokesman confirmed enron client bank though declined comment size exposure luigi ferrari spokesman san paolo imi spa said exposure italy 3 bank limited control declined give amount diversified officials unicredito banca nazionale del lavoro banca di roma spa immediately available comment make sense attribute declines today purely enron exposure said luca comi head research eptasim one company trouble banks sufficiently diversified impact limited comi said san paolo told enron borrowed 80 million euros part 120 million euro credit line loan 50 million euros guaranteed enron assets analyst said san paolo shares fell 1 percent 12 41 euros banks higher exposure enron 168 million euros intesa banca nazionale del lavoro 142 million euros 122 million euros unicredito investors said citing analysts reports argentine analysts perez companc comment tgs enron 2001 11 29 15 55 new york buenos aires nov 29 bloomberg eugenia benitez energy analyst allaria ledesma cia esteban marx analyst banco comafi gustavo neffa analyst bbva banco frances sa mario grandinetti head perez companc institutional relations comment future gas distributor transportadora de gas del sur sa enron corp together perez companc owns 70 percent tgs may file bankruptcy protection biggest bankruptcy reorganization history move may force largest u energy trader liquidate assets pay 15 billion publicly held debt eugenia benitez natural buyer perez companc definitely possibility reaching deal would make perez controlling shareholder tgs would need see much tgs debt perez debt profile relevant acquisition would another step perez strategy integrating operations one holding esteban marx perez natural candidate sure right time perez pour money tgs unless get really cheap gustavo neffa company could make sort investment tgs stake perez companc huge investment given tgs assets worth 1 billion would definitely likely buyer grandinetti permitted buy enron stake tgs rules prevent us majority stake law modified yes would consider also economic issues consider duke williams among companies facing enron losses update 2 2001 11 29 16 23 new york duke williams among companies facing enron losses update 2 updates total second paragraph adds closing stock price ninth paragraph analyst comment paragraph 12 th 20 th paragraphs houston nov 29 bloomberg duke energy corp j p morgan chase co williams cos dozen companies together may lose 1 1 billion collapse enron corp electricity natural gas companies said enron owed 660 million yesterday dynegy inc abandoned merger deprived enron cash needs avoid insolvency j p morgan bank enron adviser failed buyout said owed 500 million unsecured loans losses may grow companies tally exposure transactions houston based enron largest energy trader revenue last year 100 billion enron also manages power supply companies j c penney co eli lilly co owns pipelines fiber optic telecommunications network companies positions owning said peter fusaro president global change associates inc energy research firm enron long term deals books may take years sort could big exposure enron poised file largest bankruptcy reorganization history company saddled 15 billion debt less 2 billion cash last week must pay 690 million lenders mid december responsible another 3 9 billion debt owed affiliated partnerships company credit rating downgraded junk status yesterday considering enron size clout companies energy business electric utility companies done business said jon cartwright fixed income analyst raymond james associates believe everyone could gotten exposure limited payments enron said yesterday continue payments necessary maintain trading core energy businesses suspending others also resumed limited trading enrononline internet market shutting yesterday new york mercantile exchange largest energy market tightened trading restrictions enron move members said made limit risk new business company shares enron fell 25 cents 36 cents compared 70 year ago enron unable pay owes duke williams said would lose 100 million duke largest u utility owner stop trading enron yesterday warned earnings may affected closely monitoring unfortunate situation determine provision earnings appropriate richard j osborne duke executive vice president chief risk officer said statement today reassure investors energy companies business enron trying reassure investors going go belly result enron demise said gordon howald analyst credit lyonnais securities inc investors still need cautious industry lot unanswered questions reliant resources inc said faces 80 million losses transactions enron involving electricity natural gas sales dynegy said faces 75 million losses though plans exercise option buyout agreement take northern natural gas system exchange 1 5 billion investment enron mirant corp atlanta based energy trader said would lose 60 million aquila inc american electric power co el paso corp said estimated exposure enron 50 million losses centrica dominant u k natural gas supplier may write contracts worth 43 million enron fails company said statement exelon corp owner utilities chicago philadelphia said exposure less 20 million dominion resources inc power gas utility said exposure past sales 11 million rwe europe fourth biggest utility owner said open trading positions enron much less 8 9 million st mary land exploration co denver based natural gas producer said hedged 4 17 million production enron 2003 western gas resources inc said faces 2 6 million possible losses nrg energy inc announced potential liability 10 million energy trading enron plains resources inc said exposure end next year 630 000 companies business enron relied part rating agencies determine enron financially sound credit lyonnais howald said enron investment grade solidly investment grade time think fault companies business company represented 20 percent market companies calpine corp said exposure enron j p morgan 400 million loan secured enron transwestern northern natural gas pipelines bank said enron problems industry problems felsinger tells cnbc 2001 11 29 16 33 new york san diego nov 29 bloomberg enron corp problems particular company reflect energy industry sempra energy group president donald felsinger said interview financial news network cnbc really surprised impressed well energy industry responded enron problems said past month energy players stepped taken positions enron energy market today working well felsinger said 15 million business enron material affect sempra energy earnings year next year california senator dunn comments possible enron bankruptcy 2001 11 29 17 03 new york sacramento california nov 29 bloomberg california state senator joseph dunn chairman committee investigating possible price manipulation state wholesale power market comments enron corp bankruptcy would affect probe assume enron files bankruptcy either liquidation reorganization ability deal corporate entity get documents access witnesses overseen bankruptcy court means jump additional hoops ladders get information may require substantively affect investigation senate investigation get anybody tying get thorough understanding got mess whether concrete legislative fixes wholesale market need taken enron critical player setting market ultimately gave rise market power view ultimate cause energy crisis pluses minuses assume enron disappeared energy trading market would create void would filled players wholesale market players fill void currently posses market power good thing diffusion market share economists tell one best ways eliminate already existing market power enron goes reorganization bankruptcy rather liquidation purchased one big players currently possesses market power going complicate crisis currently find cibc says owed 215 million cash strapped trader enron 2001 11 29 17 15 new york cibc says owed 215 million cash strapped trader enron toronto nov 29 bloomberg canadian imperial bank commerce country third biggest bank said enron corp owes 215 million half unsecured loans letters credit derivatives cibc revise fiscal 2002 forecast loan loss provisions enron problems bank said statement distributed pr newswire cibc said monday expected loan losses 10 percent higher year ending oct 31 c 1 1 billion 695 8 million last year toronto based cibc said owed 115 million unsecured items 100 million secured loans enron houston based enron biggest energy trader may face bankruptcy dynegy inc withdrew bid cash strapped company enron poised file largest bankruptcy reorganization history company 15 billion debt less 2 billion cash last week shares cibc rose c 1 c 54 15 toronto released statement north american markets closed enron fell 25 cents 36 cents intelligent asset author bernstein comments 401 k plans 2001 11 29 17 23 new york north bend oregon nov 29 bloomberg william j bernstein author investment book intelligent asset allocator comments disadvantages corporate pension plans hold company stock place responsibility risk managing retirement savings employees comments follow collapse enron corp whose 401 k plan held 62 percent assets energy trader common convertible preferred stock end 2000 restricted employees ability sell end 2000 1 8 trillion invested 401 k plans serving 42 million u workers according cerulli associates investors 401 k plans lost money last year first time since introduced 1981 stocks fell maybe good come enron collapse way national pension reform said bernstein never ever prudent put company stock retirement plan overwhelming majority plans allow large plurality encourage fairly significant minority plans large amounts company stock want diversify risks company fails least backstop bernstein said individual investors ought consider putting retirement savings combination low cost mutual funds track indexes u stocks bonds international stocks average person much business managing retirement taking appendix said bernstein neurologist profession addition average 401 k plan expenses 3 5 percent assets exceed projected annual returns 3 percent stocks coming years adjusting inflation meaning investors facing zero long term real gains bernstein said expenses lower traditional corporate pension plans known defined benefit plans guarantee certain level retirement benefits based pay years service way defined contribution plans currently set adequate controls expenses really getting enormous transfer wealth plan participants financial services industry enormous social experiment foisted upon us going failure said bernstein enron corp fourth busiest day u stock table 2001 11 29 17 17 new york enron corp fourth busiest day u stock table new york nov 29 bloomberg enron corp fourth active day u stock 264 9 million shares trading according preliminary figures new york stock exchange enron fell 25 cents 41 percent 36 cents share yesterday stock set time volume record dynegy inc abandoned takeover bid leaving company largest energy trader without enough cash pay 15 billion debt following list stocks 10 highest one day trading volumes u market history according data nyse nasdaq stock market stock date volume millions enron corp nov 28 2001 345 7 intel corp sept 22 2000 308 7 cisco systems inc feb 7 2001 281 6 enron nov 29 2001 264 9 oracle corp march 2 2001 224 0 cisco systems jan 10 2001 213 0 jds uniphase corp july 26 2000 200 4 cisco systems oct 3 2001 196 5 worldcom inc nov 1 2000 195 5 exodus communications sept 25 2001 193 1 enron corp poised file largest ever bankruptcy update 3 2001 11 29 17 30 new york enron corp poised file largest ever bankruptcy update 3 adds investor comment eighth paragraph washington nov 29 bloomberg enron corp poised file largest bankruptcy reorganization history dynegy inc scuttled plans acquire energy trader saddled 15 billion debt enron less 2 billion cash last week must pay 690 million lenders mid december responsible another 3 9 billion debt owed affiliated partnerships company credit rating downgraded junk status yesterday houston based enron collapse underscored new restrictions operations new york mercantile exchange barred floor members accepting orders enron without special written authorization company internet trading reduced 30 commodities natural gas electricity metals bankruptcy filing enron investors said may come within matter days would top texaco inc record 35 9 billion case 1987 creditors would lining claim left company 61 billion assets black hole said gary hindes managing director deltec asset management llc investment enron forensic accountants get sort things know enron worth duke energy corp j p morgan chase co williams cos dozen companies say may lose 1 billion combined enron collapse electricity natural gas companies said enron owed almost 600 million yesterday european administrator london appointed administrator enron european holding company operating companies step companies taken filing chapter 11 papers u betting man enron going chapter 11 next week bet make said glen hilton helps manage 125 million including dynegy shares montgomery asset management enron shares lost 26 billion market value last seven weeks fell 25 cents 41 percent 36 cents shares traded 54 54 june 4 enron bonds bid 23 cents dollar late trading little changed yesterday traders said debt near full value recently last month quarterly dividend company said morning evaluating whether pay scheduled 12 5 cent quarterly dividend dec 20 enron hired law firm weil gotshal manges llp nation largest bankruptcy practice blackstone group lp investment banking firm arthur newman head restructuring blackstone said firm retained declined comment chapter 11 would let enron officials continue control company negotiating recovery plan creditors provision u bankruptcy law automatically blocks debt collection efforts lawsuits actions company chapter 11 filing great thing cash starved company attacked sides said nancy rapoport dean university houston law center thousands affected enron bankruptcy would affect thousands people including company 21 000 employees customers suppliers investors creditors court supervised recovery process would give enron chance change strategies fix mistakes might take years complete may end company liquidation addition energy trading operation enron operates nationwide gas pipeline system spanning 25 000 miles also owns portland general electric generates distributes power 725 000 customers pacific northwest company enron broadband services building global fiber optic communications network chapter 11 reorganization lets companies abandon onerous contracts unprofitable leases every bad business deal enron got walk away said peter chapman distressed debt investor also publishes newsletters high profile bankruptcy reorganizations recovery goal chapter 11 recovery plan allows company pay creditors come bankruptcy plan typically must approved majority creditors representing two thirds company debts company would ask bankruptcy judge final approval recovery plan divides company value among various classes creditors hierarchy set u bankruptcy code secured creditors collateral backing claims paid ahead unsecured creditors bondholders suppliers financial advisers creditors companies large bankruptcies say chapter 11 recovery plan enron would particularly difficult produce host intangible assets combined morass contingent liabilities creating potential witches brew bankruptcy said jeff werbalowsky houlihan lokey howard zukin investment banking firm contacted advice enron bondholders shareholders enron shareholders likely lose investment chapter 11 would last line get paid recovery enron creditors bankruptcy case may come lawsuits said russell belinsky investment banker chanin capital partners also approached advice enron bondholders lot juicy legal issues said belinsky potential targets include enron accounting firm officers directors disentangling pieces reorganization going painstaking job liability dynegy might face liability cancelling purchase enron dynegy invoked terms buyout agreement gave right purchase enron natural gas pipeline takeover fell apart dynegy received right pipeline exchange 1 5 billion investment enron chevrontexaco corp owns one fourth dynegy enron might use bankruptcy prevent dynegy walking away buyout claiming ownership pipeline dynegy acquisition valued 23 billion proposed nov 9 collapsed bankers failed raise 1 5 billion enron needed operate deal completed lack funds credit downgrade contributed dynegy decision bankers led j p morgan chase co vice chairman james b lee tried two weeks raise cash enron needed investors turned heightened concern enron able pay debts unraveling enron unraveling began october said shareholders equity reduced 1 2 billion way company accounted outside partnerships created announcement prompted lawsuits investigation u securities exchange commission enron ended restating earnings almost five years shares plunged enron trading partners lost confidence company would cash pay bills trading partners mirant corp either demanded collateral trade restricted trading company situation dire said deltec hindes one going trade enron right could wind unsecured creditor tomorrow