enron mentions 11 20 01 usa p may still cut enron expects dynegy merger reuters english news service 11 20 01 money enron melts many see merger jeopardy dow jones news service 11 20 01 dynegy comment merger partner enron 10 q dow jones news service 11 20 01 enron credit rating remains negative watch p says bloomberg 11 20 01 accounting watchdogs examine auditors peer review process bloomberg 11 20 01 newpower plugs cash drain revamping power pact enron bloomberg 11 20 01 enron falls company cuts earnings says 690 mln note due bloomberg 11 20 01 options report traders wary mkt shows lack fear dow jones capital markets report 11 20 01 usa reliant surprised latest enron disclosure reuters english news service 11 20 01 stockwatch enron slides warning debt cut q 3 eps afx news 11 20 01 andersen enron audit prompts look peer reviews updatel bloomberg 11 20 01 energy cos limit business enron 10 q traders dow jones energy service 11 20 01 us ferc denies regulatory waiver dynegy lng terminal dow jones energy service 11 20 01 usa update 2 enron stock hits decade low debt warning reuters english news service 11 20 01 usa enron shares slide debt warning reuters english news service 11 20 01 stock market analysis looking next year cnnfn market coverage morning 11 20 01 deregulation seen leaderless enron collapse dow jones energy service 11 20 01 enron falls amid concern debt threatens dynegy bid update 6 bloomberg 11 20 01 enron bbb rating creditwatch negative p afx news 11 20 01 usa p may still cut enron expects dynegy merger 11 20 2001 reuters english news service c reuters limited 2001 new york nov 20 reuters enron corp debt ratings may still fall junk status standard poor said tuesday day energy trading giant said may pay 690 million note next week owes 9 15 billion debt obligations end 2002 p also said enron near term liquidity position expected sufficient allow merge smaller houston based rival dynegy inc merger announced month expected close third quarter 2002 p said may cut houston based enron bbb minus 3 long short term unsecured debt ratings one notch junk said chance enron pay note raises liquidity issues given alignment interests enron banks enron ability renegotiate note successful enron said quarterly report filed monday securities exchange commission less 2 billion available cash credit lines said filing recent p downgrade bbb minus may force pay 690 million note tuesday find collateral guarantee debt affiliated partnership enron shares traded tuesday afternoon new york stock exchange 6 99 2 07 22 9 percent volume topping 53 million shares fallen 91 percent 2001 amid accounting problems earnings restatements federal investigation management changes copyright 2000 dow jones company inc rights reserved money enron melts many see merger jeopardy carol remond 11 20 2001 dow jones news service copyright c 2001 dow jones company inc dow jones newswires column new york dow jones investors running exits doubts enron corp ene planned merger dynegy inc dyn mount debt equity markets taking news enron never ending credit woes renewed pessimism tuesday sending company stock almost 24 bonds sharply lower much riding dynegy financial support risk arbitrageurs investors bet stock price companies involved merger willing play much risk said trader new york risk arbitrage firm nobody wants even get close deal perhaps telling uncertainty surrounding enron merger dynegy fact even 68 risk premium value dynegy deal far failed attract investors deal appears real jeopardy bond trader said merger plan enron holders would receive 0 2685 dynegy share enron share dynegy current share price 41 77 means value deal 11 20 share enron holders enron stock recently traded low 6 68 share almost 68 value merger adding doubts enron long term viability company said delayed quarterly filing late monday ability continue going concern depends number factors including able retain investment grade credit rating dynegy declined comment whether decision merge enron would affected company latest securities exchange commission filing including disclosure enron repay 690 million debt next tuesday come collateral loan enron spokeswoman available comment merger plan among bad news enron latest report warned investors company faces immediate demand 3 9 billion debt credit rating downgraded earlier month standard poor corp moody investors service cut enron credit ratings bbb baa 3 one notch higher investment grade junk status rating agencies warned may cut respective ratings neither 201 938 2074 dow jones newswires carol remond dowjones com copyright 2000 dow jones company inc rights reserved dynegy comment merger partner enron 10 q christina cheddar dow jones newswires 11 20 2001 dow jones news service copyright c 2001 dow jones company inc new york dow jones dynegy inc dyn declined tuesday comment whether merger enron corp ene would affected contents enron quarterly filing securities exchange commission late monday 10 q filed five days past sec deadline enron revised third quarter earnings downward 3 cents share disclosed may pay 690 million note owed affiliated partnership clause financial agreement triggered reduction enron senior unsecured debt rating triple b minus standard 201 938 5166 christina cheddar dowjones com corrected 1 50 pm enron corp ene must make arrangements pay note owed affiliated partnership nov 27 unless finds collateral guarantee debt item published 12 40 p est misstated date copyright 2000 dow jones company inc rights reserved enron credit rating remains negative watch p says 2001 11 20 15 05 new york enron credit rating remains negative watch p says new york nov 20 bloomberg enron corp credit rating remained negative watch standard poor day largest energy trader released delayed third quarter regulatory filing shares enron fell much 28 percent today bonds also tumbled amid concern company might run cash takeover dynegy inc accounting watchdogs examine auditors peer review process 2001 11 20 13 32 new york accounting watchdogs examine auditors peer review process washington nov 20 bloomberg accounting industry watchdog group plans examine whether audit firms conducting adequate peer reviews one another light arthur andersen llp failed audits enron corp according group chairman charles bowsher detailed review enron case rests securities exchange commission public oversight board chairman said board look bigger issue peer reviews still kinds failures bowsher said pob private group created oversee accounting industry self governance advocate public take matter closed meeting washington dec 4 said houston based enron largest energy trader earlier month reported overstated earnings 586 million four half years inflated shareholder equity 1 2 billion accounting error failed consolidate results three affiliated partnerships balance sheet andersen world fifth largest accounting firm served enron outside auditor decade assuring investors company financial statements conformed generally accepted accounting principles sec investigating enron partnerships firms audit public companies submit peer reviews accounting practices accounting firms practice aimed assuring investing public firm complies professional standards u representative john dingell michigan democrat said yesterday letter bowsher none big five accounting firms ever issued negative report another end peer review dingell skeptical appears little reason public faith andersen peer review process dingell wrote andersen responded saying faith accounting profession self regulatory process pob oversees spokeswoman deloitte touche llp andersen peer reviewer return telephone call seeking comment deloitte third largest reviewer conducting peer review andersen bowsher former u comptroller general said pob thinking looking peer review issues receiving dingell letter letter certainly focuses issue said dingell letter said outside counsel special committee enron board retained deloitte touche help review company accounting problems conflict interest dt dual roles create conflict interest dingell letter asked dt finds numerous problems enron dt try whitewash reconcile order able issue clean peer review report dingell also questioned whether money andersen pays deloitte touche current peer review sway outcome influence dt independent judgment andersen work enron letter said bowsher responded nothing change fact deloitte touche done previous reviews andersen question outside counsel use firm would better use another firm pretty much decision bowsher said knowledge accounting problems enron beyond read newspapers looks pretty bad said expanded power dingell request could prove test pob recently expanded power oversight group charter revised earlier year make pob accounting industry premier watchdog group following criticisms former sec chairman arthur levitt former sec chief accountant lynn turner criticized alphabet soup accounting self regulators voiced frustration industry oversight new charter put pob charge supervising setting auditing audit independence standards monitoring firms audit public companies also gave board funded industry power set budget strings attached first time see pob able act public interest undertake mandate presented congressman dingell new charter turner said power past pob set 1977 represent public interest overseeing accounting industry self governance structure charter revised pob one facet enforcement auditing industry standards regarding publicly traded companies oversees activities groups well newpower plugs cash drain revamping power pact enron 2001 11 20 11 05 new york newpower plugs cash drain revamping power pact enron washington nov 20 bloomberg newpower holdings inc one first companies market power homeowners nationwide recently plugged cash drain brought plunging energy prices purchase new york company buys gas electricity suppliers enron corp resells energy residential small business customers states pennsylvania ohio georgia texas newpower markets service alternative local utilities restructured retail energy markets recent declines energy prices required newpower deposit 110 million cash enron largest shareholder well major creditor leaving company 33 million according regulatory filing enron recently agreed allow newpower replace cash collateral assets inventory customer ious certain amount cash tied collateral positions said william jacobs chief financial officer newpower obviously every dollar put reduces amount money spend places newpower represents new breed energy middleman contracts provide power retail customers certain prices rather owning power plants gas pipelines though company simply purchases energy slightly lower prices suppliers enron contracts enron require newpower post collateral supplier market price natural gas electricity falls price set contract prices natural gas used fuel electricity plants plunged offsetting contracts natural gas december delivery fell 4 6 cents 2 740 per million british thermal units new york mercantile exchange record 10 10 per million british thermal units last december newpower risk losing money company offsetting contracts sell electricity natural gas even higher prices retail customers timing issue company post collateral sales retail contracts take place nevertheless need provide collateral weighed heavily newpower balance sheet cash cash equivalents declined 33 4 million sept 30 179 9 million dec 31 2000 meanwhile restricted cash collateral provided enron others ballooned 180 2 million 16 2 million period transactions oct 18 according quarterly report filed securities exchange commission enron agreed permit newpower substitute inventory customer receivables much 40 million cash collateral agreement expire jan 4 2002 assuming broadly stable forward energy prices filing said newpower sufficient financial resources conduct business secures permanent asset backed similar financing company also said sec filing recently entered series transactions reduce risk posting additional cash collateral energy prices fall transactions company says exception usual hedging strategy increase company exposure commodity price fluctuations joint venture newpower formed joint venture enron general electric capital corp california public employee retirement system ontario teachers pension plan board merchant banking arm donaldson lufkin jenrette inc owned credit suisse group october 2000 company held initial public offering 24 million common shares 21 newpower shares fallen 83 percent far year trade 1 60 enron falls company cuts earnings says 690 mln note due 2001 11 20 09 39 new york enron falls company cuts earnings says 690 mln note due houston nov 20 bloomberg enron corp shares fell much 10 percent biggest energy trader restated third quarter earnings second time month said may make early payment 690 million note next week shares enron agreed takeover rival dynegy inc month financial crisis threatened bankruptcy fell 86 cents 8 20 dynegy fell 1 30 42 30 enron reduced third quarter results 3 cents share bringing period loss 87 cents 664 million according u securities exchange commission filing nov 8 enron lowered earnings back 1997 586 million reflect losses affiliated partnerships wrongly kept books included third quarter reduction 17 million drop enron senior unsecured debt rating bbb standard poor nov 12 may force enron pay 690 million note nov 27 find collateral guarantee debt taken another affiliated partnership company said filing released yesterday u stock market closed without repayment collateral investors partnership owns brazilian natural gas assets begin liquidate partnership assets enron said company said working lenders come acceptable agreement debt enron used affiliated partnerships raise money quickly take debt books shares plunged year investors questioned whether partnerships also used hide losses failed investments chief executive officer kenneth lay said earlier month buying back 62 million shares two partnerships cost enron shareholders 1 2 billion lost equity making good debt owed whitewing affiliated partnership may cut enron fourth quarter earnings enron said enron obligated back whitewing issuing junior convertible preferred stock enron stock plunged may write assets 700 million filing said dynegy agreed nov 9 buy enron transaction valued 25 billion stock assumed debt companies based houston chevrontexaco corp second largest u oil company owns 26 percent dynegy providing 2 5 billion cash part enron buyout shares chevrontexaco based san francisco rose 1 63 84 54 options report traders wary mkt shows lack fear kopin tan marcelo prince dow jones newswires 11 20 2001 dow jones capital markets report copyright c 2001 dow jones company inc new york dow jones stock market investors may give thanks stocks surge fall options market feel good bullishness given investors pause options sentiment indicators showing traders say lack fear option investors many famously contrarian beginning become fearful number hedging long stock positions options becoming bearish short term outlooks even dow jones industrial average moving technically bull market territory week nasdaq composite index 37 late september low possible market could embark new sustained bull market think said jay shartsis director option trading r f lafferty 201 938 2202 kopin tan dowjones com marcelo prince dow jones newswires contributed report copyright 2000 dow jones company inc rights reserved usa reliant surprised latest enron disclosure 11 20 2001 reuters english news service c reuters limited 2001 houston nov 20 reuters reliant resources inc trading partner beleaguered energy trading giant enron corp said tuesday surprised news enron could forced pay 690 million debt next week credit rating downgrade shahid malik reliant president energy trading marketing said company still evaluating implications disclosure enron made filing securities exchange commission sec monday another surprise industry need surprises malik told reporters press presentation new index devised houston based reliant track natural gas consumption reliant big wholesale electricity natural gas trader competitor trading counterparty enron malik said enron executives mentioned potential payment 690 million conference call analysts nov 14 two days credit rating downgrade triggered nov 12 enron agreed acquired smaller rival dynegy inc 9 billion stock nov 9 collapse investor confidence snowballing financial problems brought enron brink collapse dynegy wrote clauses agreement enron allow walk away deal problems enron turn far worse previously disclosed dynegy executives said unlikely clauses invoked malik said trading partner wholesale energy markets reliant seek clarification enron financial position guess going hard time coming money said malik said enron bids offers wholesale electricity natural gas markets become less competitive recent weeks allowed reliant companies capture market share enron reliant continued business enron said exercising heightened caution malik said reliant hired traders away enron recently currently well staffed always look good people always look talent added copyright 2000 dow jones company inc rights reserved stockwatch enron slides warning debt cut q 3 eps 11 20 2001 afx news c 2001 afp extel news ltd new york afx shares enron corp sharply lower midsession trade company warned yesterday faces heavy debt repayment obligations less 10 days reduced already reported third quarter earnings dealers said 12 10 pm enron 1 16 usd 12 80 pct 7 90 chevrontexaco inc affiliate dynegy inc agreed acquire enron 8 5 bln usd cash paper 20 cents 0 46 pct 43 40 chevrontexaco 3 15 usd 86 06 djia 71 69 points 9 904 77 p 500 5 42 points 1145 24 10 q filing securities exchange commission enron said credit rating downgrade last week faces debt payment 690 mln usd nov 27 also restated third quarter earnings lowering 3 cents per share wall street analysts however said announcement surprising following company recent credit downgrades enron board investigation company balance sheet also said news endanger enron purchase chevrontexaco affiliate dynegy credit suisse first boston analyst curt launer maintained strong buy rating enron said expects company 690 mln usd obligation renegotiated satisfied enron current cash position 1 5 bln usd collateralized analyst said already factored reduction enron fourth quarter eps 40 cents 48 previously expected issues however expects fourth quarter eps 25 35 cents dynegy deal launer sees 90 pct probability completed dynegy demonstrably benefits chevron texaco supports yesterday chevrontexaco chairman david reilly reaffirmed support company decision invest 2 5 bln usd dynegy enron dynegy deal contain material adverse change mac clause could break deal enron liabilities exceed 2 bln usd net insurance reserves 10 q filing enron also detailed plans dispose 8 bln usd non core assets mainly international broadband assets csfb launer said strong buy rating enron reflects expectations deal spread currently 30 pct narrow progress made toward closing csfb disclosed launer immediate family owns shares enron estimated less 250 ng gc information contact afx www afxnews com www afxpress com copyright 2000 dow jones company inc rights reserved andersen enron audit prompts look peer reviews updatel 2001 11 20 16 13 new york andersen enron audit prompts look peer reviews updatel adds information accounting firms seventh paragraph washington nov 20 bloomberg accounting industry oversight group prompted concerns arthur andersen llp failed audits enron corp plans look adequacy letting u audit firms police one another said group chairman charles bowsher question public oversight board involves industry system peer reviews auditors submit reports public companies examination accounting firms effort assure investors audits comply accounting standards peer reviews still kinds failures bowsher former u comptroller general asked interview board examination consider broad issue industry oversight leaving specific review enron audits securities exchange commission said houston based enron largest energy trader month said overstated earnings 586 million four half years inflated shareholder equity 1 2 billion accounting error failed consolidate results three affiliated partnerships balance sheet oversight board created supervise accounting industry self governance practices address issue dec 4 bowsher said andersen world fifth largest accounting firm enron outside auditor decade assuring investors company financial statements conformed generally accepted accounting principles deloitte touche llp firm assigned andersen peer reviews dingell skeptical u representative john dingell michigan democrat questioned peer review process yesterday letter bowsher none five biggest international accounting firms ever issued negative peer review report another dingell said called big five andersen deloitte touche llc kpmg llp ernst young lp appears little reason public faith andersen peer review process dingell wrote andersen responded faith accounting profession self regulatory process pob oversees spokeswoman deloitte touche return telephone call seeking comment oversight board thinking looking peer review issues receiving dingell letter bowsher said letter certainly focuses issue said conflict interest dingell letter said outside counsel special committee enron board retained deloitte touche andersen peer reviewer help examine company accounting problems deloitte touche dual roles create conflict interest dingell letter asked deloitte touche finds numerous problems enron deloitte touche try whitewash reconcile order able issue clean peer review report dingell also questioned whether money andersen pays deloitte touche peer review sway outcome influence deloitte touche independent judgment andersen work enron dingell asked bowsher nothing change fact deloitte touche done previous reviews andersen question outside counsel use firm would better use another firm pretty much decision expanded power dingell request could prove test oversight board expanded power oversight group charter revised earlier year make board accounting industry premier watchdog group following criticisms former sec chairman arthur levitt former sec chief accountant lynn turner criticized alphabet soup accounting self regulators voiced frustration industry oversight new charter put oversight board charge supervising setting auditing audit independence standards monitoring firms audit public companies also gave board funded industry power set budget strings attached first time see pob able act public interest undertake mandate presented congressman dingell new charter turner said power past public oversight board set 1977 represent public interest overseeing accounting industry self governance structure charter revised board one facet enforcement auditing industry standards regarding publicly traded companies oversees activities groups well energy cos limit business enron 10 q traders mark golden dow jones newswires 11 20 2001 dow jones energy service copyright c 2001 dow jones company inc new york dow jones many energy trading companies unwilling sell power natural gas next day delivery enron corp ene tuesday morning result heightened credit concerns following release enron quarterly financial report monday traders sources said weeks companies limited buying selling enron future deliveries first time since enron troubles began month ago energy companies selling enron spot markets fear enron might able pay bills soon next month pretty well accepted industry people staying away said charlie sanchez energy market manager gelber associates houston traders major companies contacted said sell enron tuesday morning several spokespeople energy companies confirmed situation declined say record nobody take enron one western electricity broker said struggling however broker eventually found utility willing sell enron tuesday morning calpine prominent independent power producer trader said willing sell power enron continue sell power enron monitoring situation closely spokeswoman catherine potter said situation tuesday morning fluid one utility refused sell enron morning willing afternoon person company said company trading however still limited spot markets credit concerns dominant energy trading company heightened enron filing third quarter annual report monday evening u securities exchange commission enron may pay 690 million note became demand obligation company recent credit rating downgrade enron said monday filing company also warned profits fourth quarter could hurt credit concerns decline asset values reduced trading activity 10 q document could raise concerns fitch analyst ralph pellecchia said lot questions outstanding relative disclosures new us strategies going manage situation companies willing buy enron spot gas power markets taking delivery commodity paying month later poses credit risk buyer enron spokesman respond request comment reliant resources rri bonneville power administration federal government western power marketer said organizations continuing business enron asked specifically selling spot power gas enron spokesmen declined comment watching situation carefully said reliant spokesman richard wheatley lot speculation filing yesterday energy companies began shying away enron past month concerns finances precipitated 75 drop stock price left bonds trading levels typically associated junk rated debt traders companies said consistently enron credit ratings improve continue watch exposure enron carefully trades limited short term deals moody investors service standard poor fitch rate enron one notch speculative grade moody enron ratings review downgrade p enron negative credit watch fitch calls enron credit rating evolving enron ability business energy markets depends maintaining investment grade ratings manager one hedge fund follows enron closely said tuesday several trading companies expressed strong concerns enron financial viability manager thought concerns proportionate enron position nine days work 690 million debt payment work cash make payment manager said dynegy inc dyn agreed buy enron stock swap currently worth 10 billion injected 1 5 billion enron last week enron also closed 1 billion worth revolving credit lines j p morgan chase co jpm citigroup c past week 450 million amount closed monday developments enron however raised enough concerns energy companies willing extend positions even appearance vulnerability sanchez gelber associates said industry shell shocked recent announcements ready go back trading said sanchez gelber 201 938 4604 mark golden dowjones com john edmiston houston kristen mcnamara new york jon kamp chicago contributed article reached later dynegy made clear take extraordinary measures support enron market operate two separate companies merger completed dynegy spokesman john sousa said act independently mirant corp mir major trader north american power case trimmed business enron trading limited basis said spokesman chuck griffin specific cinergy corp cin mid sized energy trading company said buying selling gas power enron mark golden dow jones newswires 201 938 4604 mark golden dowjones com john edmiston houston kristen mcnamara new york jon kamp chicago contributed article copyright 2000 dow jones company inc rights reserved us ferc denies regulatory waiver dynegy lng terminal 11 20 2001 dow jones energy service copyright c 2001 dow jones company inc washington dow jones federal energy regulatory commission denied tuesday dynegy inc dyn request regulatory exemption planned liquefied natural gas lng import terminal u gulf coast would first new lng import site nearly two decades dynegy proposed converting existing terminal hackberry la receive lng imports rate 750 million cubic feet day capacity later expand 1 5 billion cubic feet day august application ferc dynegy said lng import terminals longer face regulatory burdens designed 1970 tuesday ferc said indication congress intended remove commission jurisdiction siting construction operation lng import facilities commission added would regulatory gap without commission jurisdiction ferc chairman pat wood said close decision deny company request although commissioners voted unanimously commissioner william massey said granting regulatory waiver would made impossible ensure open access lng facility described gatekeeper u market three four existing u lng import terminals strict ferc price regulations dynegy said regulations guaranteed cost recovery entail led unnecessary lng investment early 1980 company argued lng imports treated first sale gas commission jurisdiction dynegy announced project july planned begin receiving lng shipments end 2003 project involves converting existing liquefied petroleum gas terminal dock receive lng dynegy plans convert lpg tanker construction carry lng instead targeted fourth quarter 2003 start operations would seek additional lng tankers 2004 companies use lng tankers terminals import gas remote overseas gas fields countries algeria trinidad 202 862 9291 campion walsh dowjones com copyright 2000 dow jones company inc rights reserved usa update 2 enron stock hits decade low debt warning 11 20 2001 reuters english news service c reuters limited 2001 previous dateline new york updates paragraphs 1 6 share price p announcement houston nov 20 reuters shares enron corp plunged lowest level decade investor concerns debt problems loom crippled energy trading giant late afternoon trade new york stock exchange shares enron 2 16 23 8 percent 6 90 touching intraday low 6 55 low seen since may 1991 enron far away day active stock 55 5 million shares changing hands volume double second active issue xerox corp everyone wants sink ship faster sell yesterday news hyped media said fulcrum global partners analyst michael barbis enron warned u securities exchange filing released markets closed monday could forced next week pay 690 million debt credit downgrade nov 12 filing made stark statement enron would fail going concern credit cut forces pay 3 9 billion debts partnerships involved early payoff debts would render enron unable service revolving credit accounts starting downward spiral said meanwhile credit rating agency standard poor said may cut enron bbb minus rating could trigger debt payoffs agency said enron liquidity issues unlikely derail merger smaller cross town rival dynegy inc next week deadline analysts said surprising revelations enron filing yesterday effect plans rival energy trader dynegy inc buy enron facts changed dramatically stock magnitude barbis said monday enron disclosed nov 26 deadline must deliver collateral debt owed third party one myriad partnerships partner right liquidate assets partnership include brazilian natural gas company enron counting selling raise 250 million cash enron working make alternative payment arrangements since ill afford pay debt enron already already maxed 3 billion credit line secured roughly 2 billion loans looking cash stay afloat enron access 3 billion cash pay note cash coming illiquid said barbis timing note could better enron keeps cash hand situations like undermine dynegy deal monday houston based company also reduced previously reported 2001 third quarter earnings 3 cents per share increased reported earnings first 9 months year penny per share copyright 2000 dow jones company inc rights reserved usa enron shares slide debt warning 11 20 2001 reuters english news service c reuters limited 2001 new york nov 20 reuters enron corp shares fell sharply opening trade tuesday day humbled energy giant warned could forced pay next week 600 million debt triggered credit downgrade last week shares 12 3 percent 1 11 7 95 new york stock exchange monday houston based company also reduced previously reported 2001 third quarter earnings 3 cents per share increased reported earnings first 9 months year penny per share copyright 2000 dow jones company inc rights reserved business stock market analysis looking next year rhonda schaffler 11 20 2001 cnnfn market coverage morning c copyright federal document clearing house rights reserved rhonda schaffler cnnfn anchor market call chuck kadlec guest host tracking sell know enron url http www enron com story know headlines weeks one cases invest stock sort buy story difficult investors lost lot money everyday seems new revelation counsel people sort know catch things even street catch charles kadlec j w seligman well obvious catch could would best analysts street missed one think real message importance diversification think also raises important questions corporate governance enron clearly something missing among senior executive officers corporation board directors well schaffler general seeing markets sort retreat seems one sort calm pullbacks talked much throughout show dow started day better 20 percent nasdaq 30 percent lows one situation markets pulled back couple weeks buyers always come back know fund inflows october also know october sometimes see bottoms markets historically seems happens october data fund flows intrigue kadlec well think another straws wind leading economic indicators 0 3 percent today bet ranch single number positive better expected positive inflows suggest fear impacting market clearly impacting economy starting recede positive think individual investors beginning look beyond immediate news next year know nine recessions nine recoveries probably middle 10 th recession going recovery people begin try size shape duration recovery beginning deploy assets back equities provide best long term returns asset class schaffler interesting know talked last couple months always cash sidelines know kept quoting much money market funds waiting deployed sense much momentum still come market much money might still get idea institutions well retail customers might still holding money deploy assets point kadlec sense like seligman example teams really focused positioning portfolios take advantage upturn coming seeing move toward cyclicals selecting really good companies perhaps oversold also seeing horizons lengthen little bit people beginning think next year going look like really little attention happening fourth quarter year already know economy trouble anything set positive surprise think holiday season terms consumer schaffler let find exactly going big board know stocks moving lower copyright 2000 dow jones company inc rights reserved deregulation seen leaderless enron collapse bryan lee dow jones newswires 11 20 2001 dow jones energy service copyright c 2001 dow jones company inc washington dow jones movement deregulate country electricity markets find whether needs 800 pound gorilla long sat corner years enron corp ene country aggressive advocate opening energy markets competition enron ropes slated goes planned absorbed smaller rival dynegy inc dyn industry observers said demise open leadership void regulatory battle enron efforts critical early efforts pry open markets work largely done plenty like minded companies able step observers said true enron leader pushing policies competitive market said linda stuntz former top energy department official stuntz davis staffier news alone lot others carry flag enron object lesson mighty fallen industry undisputed leader pushing competitive power markets federal state levels company dominant player policy debate federal energy regulatory commission positions weigh heavily congress debates electric industry reform legislation lobbyists describe enron washington office huge far surpassing dynegy enron also tremendous political clout company successfully backed top texas regulator pat wood iii ferc chairmanship earlier year enron chairman ken lay key political backer president george w bush raising least 100 000 campaign company contributed 114 000 enron spent 2 4 million last federal election cycle making one nation biggest political contributors according center responsive politics advocacy group monitors political campaign spending influence company contribution total 2000 elections doubled political donations two previous election cycles center reports broad support seen markets company come close making enron commitment shaping laws regulations govern energy industry still industry observers see support competitive energy markets even without enron largess think tremendous political leaders sides congress administration move forward electricity competition legislation said edison electric institute president thomas kuhn think enron situation going make difference officials two companies adamantly reject premise merger create vacuum push greater competition 220 billion electricity sector dynegy going continue advocate open competitive markets spokesman steve stengel said speculate new company going spend lobbying efforts combined entities staff look like clearly enron dynegy share belief open competitive markets new entity certainly continue vocal opening markets competition rick shapiro enron managing director global government affairs echoed view also said unlikely opponents deregulation would succeed using enron troubles reason open markets companies try use enron business problems reason move forward regulators separate happened enron rightness idea shapiro said validity competition proven going long term effect dynegy probably inherit enron aggressiveness lobbying stuntz said state level view mixed energy lawyers suggested many respects public policy debate competition already instance one third power generation capacity u owned companies utilities enjoyed monopolies stuntz said sure end day really changes much said william scherman former ferc general counsel skadden arps slate meagher 202 862 6647 bryan lee dowjones com copyright 2000 dow jones company inc rights reserved enron falls amid concern debt threatens dynegy bid update 6 2001 11 20 16 47 new york enron falls amid concern debt threatens dynegy bid update 6 adds dynegy watson declined comment enron filings final paragraph houston nov 20 bloomberg enron corp shares bonds dropped energy trader disclosed may pay 9 15 billion debt due 2003 suggesting company may run cash takeover dynegy inc completed shares enron fell 2 05 23 percent 7 01 earlier touched 6 55 lowest price decade enron 6 4 percent notes due july 2006 bid low 69 cents 1 face value offered 73 cents 13 percent traders said enron whose dealings affiliated partnerships led earnings restatements credit rating cuts federal investigation management shakeup said regulatory filing less 2 billion cash credit lines dynegy plans complete buyout october enron may ask lenders restructure payment schedules survive filing shows enron precarious financial situation said commerzbank securities analyst andre meade rates enron shares hold stay afloat dynegy deal go looks difficult enron dynegy spokespeople comment stock drop today standard poor investors service said enron credit rating remained negative watch indicating immediately downgrade company debt 690 million surprise enron near term liquidity position expected sufficient carry company completion proposed merger dynegy p said report investors concerned debt including 690 million note enron disclosed may pay next week would lead cut enron credit rating analysts said filing distraction threaten merger said todd shipman director p follows enron approach basis dynegy deal good thing credit quality shipman said moody investors service issue statement enron debt today kept company credit rating investment grade nov 9 day dynegy announced would buy enron deal valued 25 billion stock assumed debt ruling came executives lehman brothers holding inc j p morgan chase co citigroup inc salomon smith barney lobbied credit rating company people familiar situation said avoiding junk junk rating would led dynegy abandon acquisition dynegy chief executive officer charles watson said would also triggered debt repayment least 3 9 billion enron said securities exchange commission filing yesterday enron shares selling almost 32 percent less value dynegy offer showing investors doubts deal completed dynegy shares fell 1 90 41 70 today become clear chances deal going 90 percent much closer fifty fifty said edward paik helps manage liberty utilities fund 1 6 million enron shares much information unknowable enron financial position said 9 15 billion debt due end third quarter 2002 dynegy buyout scheduled close enron said yesterday filing sec asset sales planned last week enron chief operating officer greg whalley said company sell assets non core businesses raise money 8 billion invested businesses including broadband telecommunications dabhol power plant india enron expects get billions sales whalley said without specific enron reported yesterday u operations 1 2 billion cash left added least 5 billion since sept 30 credit lines loans 1 5 billion investment chevrontexaco part owner dynegy enron used 1 9 billion money raised retire commercial paper short term debt gave details spent remaining 3 1 billion enron chief financial officer jeffrey mcmahon said last week company also looking get another 500 million 1 billion private investors asset sales valued 800 million expected close end year according sec filing enron spokeswoman karen denne comment whether could sell assets fast enough keep current debts dynegy help enron sell assets said mitchell stapley manages 3 5 billion fixed income assets including enron bonds fifth third investment advisors inc dynegy chevrontexaco corp owns 26 percent dynegy also help enron negotiate lenders said kathleen vuchetich helps manage 1 4 billion strong american utilities fund 5 percent dynegy shares debt questioned never dreamt 9 15 billion would large coming due vuchetich said calls question decision schedule way first place chevrontexaco second largest u oil company providing 2 5 billion cash part enron buyout provided first 1 5 billion week ago exchange investment dynegy get pipeline valued 2 billion enron purchase completed shares chevrontexaco based san francisco rose 3 62 86 53 enron yesterday reduced third quarter results 3 cents share bringing period loss 87 cents 664 million nov 8 enron lowered earnings back 1997 586 million reflect losses affiliated partnerships wrongly kept books included third quarter reduction 17 million drop enron senior unsecured debt rating bbb standard poor nov 12 may force enron pay 690 million note nov 27 find collateral guarantee debt taken affiliated partnership owns brazilian natural gas assets filing said without repayment collateral investors begin liquidate partnership assets enron said company said working lenders come acceptable agreement debt making good debt owed whitewing affiliated partnership may cut enron fourth quarter earnings enron said enron obligated back whitewing issuing junior convertible preferred stock enron stock plunged may write assets 700 million filing said dynegy watson said enron buyout announced convinced enron trading operations sound called disclosure financial partnerships whitewing financial noise declined request comment today enron latest filings dynegy spokeswoman jennifer rosser said enron bbb rating creditwatch negative p 11 20 2001 afx news c 2001 afp extel news ltd new york afx standard poor said bbb minus 3 ratings enron corp remain creditwatch negative implications one notch junk status ailing energy group warned may pay 690 mln usd note next week statement rating agency also said enron near term liquidity position expected sufficient enable merge dynegy inc deal scheduled close third quarter 2002 yesterday enron warned faces heavy debt repayment obligations less 10 days reduced already reported third quarter earnings 10 q filing securities exchange commission enron said credit rating downgrade last week faces debt payment 690 mln usd nov 27 enron also said may pay 9 15 bln debt due 2003 suggesting company may run cash takeover dynegy completed group also restated third quarter earnings lowering 3 cents per share lwl gc information contact afx www afxnews com www afxpress com copyright 2000 dow jones company inc rights reserved