enron mentions enrononline competitor reports record trading volumes dow jones energy service 11 13 01 fitch dwngr portland general electric rtg watch evolving business wire 11 13 01 usa enron chief could walk away 80 million reuters english news service 11 13 01 us spot coal prices drift lower slack demand enron dow jones energy service 11 13 01 dynegy deal sets path resolution enron analyst dow jones news service 11 13 01 enron corp hold conference call webcast provide investor update pr newswire 11 13 01 uk enron metals say business normal changes seen reuters english news service 11 13 01 interview dynegy continue asset push europe dow jones energy service 11 13 01 p lowers rtg enron related synthetic obligations business wire 11 13 01 uk interview u dynegy still hungry assets europe reuters english news service 11 13 01 help wanted enron trader resumes hit streets dow jones energy service 11 13 01 usa ice sets record energy metals trade volume reuters english news service 11 13 01 uk dynegy sees problem bg storage deal reuters english news service 11 13 01 enron direct alberta urban municipalities association auma seal natural gas supply deal canada newswire 11 13 01 enron ceo may get least 60 6 million buyout update 6 bloomberg 11 13 01 dynegy saved enron merger last minute pact updatel bloomberg 11 13 01 enron corp raised maintain position edward jones bloomberg 11 13 01 lemon laws save dynegy realmoney com 11 13 01 dynegy asked ferc revise regs cbsmarketwatch com 11 13 01 compaq continental eliminate jobs houston feels pain bloomberg 11 13 01 enrononline competitor reports record trading volumes 11 13 2001 dow jones energy service copyright c 2001 dow jones company inc new york dow jones internet based energy metals trading operation saw record trading volumes last week due part troubles enron corp ene ice press release said tuesday without mentioning enron name investors watching see enron trading partners core business north american gas power marketing significantly reduce activities financially troubled top energy marketer ice considered primary alternative enron internet based commodities market enrononline ice volume north american bulk power trades last week totaled record 54 million megawatt hours 34 increase october weekly average north american natural gas volumes rose 13 october 950 billion cubic feet last week oil trading rose 45 record 55 million barrels metals trading volumes 66 believe resulted part uncertainty exhibited several key energy trading venues pas several months said ice chief executive jeffry sprecher enrononline different ice enrononline mechanism companies buy sell enron ice neutral multiparty exchange allowing energy trading companies trade members ice trading system installed 7 000 desktops worldwide covers 600 commodity derivative contract types ice also owns international petroleum exchange london europe largest energy futures exchange ice owned companies including american electric power aep aquila energy ila bp amoco plc bp deutshe bank ag g dbk el paso corp epg goldman sachs group gs morgan stanley dean witter 201 938 4604 mark golden dowjones com copyright 2000 dow jones rtg watch evolving 11 13 2001 business wire copyright c 2001 business wire new york business wire nov 13 2001 fitch lowered portland general electric co pge securities follows senior secured debt bbb senior unsecured debt bbb preferred stock bbb bbb rating watch status revised evolving negative intermediate long term securities rating watch evolving means ratings may raised lowered maintained pge commercial paper downgraded f 2 fl stable outlook downgrades pge reflect substantial ongoing uncertainty parent enron ene ene senior unsecured debt rated bbb rating watch evolving ene financial flexibility severely impaired result recent developments primarily surrounding investment structured transactions oct 16 2001 ene announced 1 billion tax charge third quarter 2001 earnings 1 2 billion reduction balance sheet equity relating unwinding structured transactions addition company restated financial results 1997 2000 period incorporating balance sheet entries related structured transactions subject securities exchange commission sec investigation focusing company accounting partnerships events badly eroded investor confidence company effectively blocking ability access capital markets forcing management seek corporate suitor nov 9 2001 dynegy dyn announced reached definitive agreement acquire ene stock stock transaction ene shareholders receive fixed amount dyn shares proposed dyn transaction provide significant financial support ene enable ene fund cash needs first quarter 2002 expected business conditions despite ene significant refinancing risk merger requires regulatory approvals including hart scott rodino sec federal regulatory energy commission assuming regulators approve merger would expect transaction close six nine months merger agreement includes termination provisions add element uncertainty completion fitch anticipates surviving company rating would move mid bbb range assuming successful execution interim plans delever capital structure completion merger merger terminated fitch believes ene ability manage business would severely impaired would expect downgrade securities highly speculative levels pge new ratings also recognize strong standalone credit profile prospective regulatory ring fencing required oregon regulators pending sale pge northwestern natural gas nwn addition interim status subsidiary ene evolving status pge recognizes ratings could drop ene dyn merger terminated improve ene credit rating upgraded future pge credit quality ratios financial strength expected temporarily weaken 2001 reflecting absence cash recovery unusually high wholesale power costs august 2001 oregon public utility commission opuc authorized higher pge rates effective october 1 2001 recover costs importantly commission order adopted power cost adjustment mechanism allow company pass lion share power procurement costs customers timely basis future cash recovery power procurement costs allowed opuc order combined declining wholesale power procurement costs balance year alleviate financial pressure pge facilitate improving credit measures 2002 pge ratings consider fitch assessment nwn acquisition funding plan anticipated post merger holding company structure nwn recently announced agreement acquire pge ene transaction valued 2 9 billion including assumption 1 1 billion pge debt transaction expected close end 2002 requires several regulatory approvals including sec opuc washington utilities transportation commission part transaction nwn expects form new holding company holdco raise new debt equity required complete purchase pge post merger pge nwn operate wholly owned first tier subsidiaries holdco currently contemplated approximate 1 8 billion cash portion funded holdco approximately 78 debt 22 common equity hybrid convertible preferred stock result holdco consolidated individual credit measures expected relatively weak consolidated debt capitalization could reach 75 closing pge ultimate post merger ratings depend several factors including ability gain operating synergies affiliation nwn credit ratings fitch assigns holdco structural protections provided pge investors state utility regulators current regulatory ring fencing applied opuc requires pge maintain 48 common equity ratio thereby limiting amount cash pge dividend parent company expected similar ring fencing opuc continue new holdco structure contact fitch new york philip smyth 1 212 908 0531 ralph pellecchia 1 212 908 0586 15 54 est november 13 2001 copyright 2000 dow jones transaction closes next year receive three payments starting 2003 according lay contract company would also pay taxes annual payments deemed excess parachute payment income tax purposes lay reassumed posts president chief executive august following resignation jeffrey skilling enron contract expires dec 31 2005 lay considered many visionary presided enron growth medium sized natural gas pipeline company created 1986 merger houston natural gas internorth world largest innovative energy trader enron market capitalization fallen almost 19 billion past month investor confidence waned amid regulatory probe balance sheet transactions dynegy agreed acquire enron stock swap worth 9 billion fraction enron worth year ago shares enron 43 cents 4 65 percent 9 67 afternoon trade new york stock exchange copyright 2000 dow jones company inc rights reserved us spot coal prices drift lower slack demand enron 11 13 2001 dow jones energy service copyright c 2001 dow jones averages volume weighted 4 q 01 lq 02 cal 2002 central appalachia low sulfur f b barge 30 00 31 50 31 50 32 00 31 00 31 75 average change 30 75 1 15 31 75 0 37 31 37 1 13 f b rail 36 00 38 00 n 36 00 38 00 average change 37 00 0 00 n 37 00 0 00 powder river basin 8400 b u 5 75 6 00 6 45 6 60 6 35 6 45 average change 5 85 0 00 6 50 0 00 6 40 0 00 8800 b u 7 00 7 50 8 10 8 25 8 10 8 25 average change 7 25 0 25 8 12 0 13 8 12 0 03 note u spot coal prices prices dollars per short ton based actual deals done month delivery period indicated averages straight mathematical averages volume weighted change average deals done previous month central appalachian low sulfur category uses benchmark 12 000 british thermal units per pound barge delivery big sandy river rail delivery norfolk southern central appalachian coal prices accepted coal within 500 btu benchmark btu standardized adjustments made powder river basin categories quoted fob mine jennifer morrow dow jones newswires 201 938 4377 jennifer morrow dowjones com copyright 2000 dow jones company inc rights reserved dynegy deal sets path resolution enron analyst christina cheddar dow jones newswires 11 13 2001 dow jones news service copyright c 2001 dow jones company inc new york dow jones dynegy inc dyn proposed acquisition enron corp ene creates clear path resolution liquidity financial issues plaguing enron said ted izatt high grade debt research analyst lehman brothers holdings inc leh izatt made comments conference call held tuesday bondholders discuss proposed acquisition announced late last friday lehman investment bankers advised dynegy transaction enron advised j p morgan chase 201 938 5166 christina cheddar dowjones com copyright 2000 dow jones company inc rights reserved enron corp hold conference call webcast provide investor update 11 13 2001 pr newswire copyright c 2001 pr newswire houston nov 13 prnewswire enron corp nyse ene hold conference call webcast provide investor update wednesday nov 14 2001 9 30 est live webcast call available investors section www enron com enron one world leading energy commodities services companies company markets electricity natural gas delivers energy physical commodities provides financial risk management services customers around world enron internet address www enron com stock traded ticker symbol ene karen denne 713 853 9757 make opinion count click copyright 2000 dow jones company inc rights reserved uk enron metals say business normal changes seen 11 13 2001 reuters english news service c reuters limited 2001 london nov 13 reuters enron metals said tuesday trading normally counterparties customers maintain current role within market u parent company enron corp agreed taken business usual yesterday second highest day terms turnover today looks like well clients counterparties happy trade us mike hutchinson managing director enron metals ltd told reuters talk circulated monday enron metals may downsize activities troubled parent enron agreed 9 billion takeover dynegy inc however hutchinson said enron metals currently altering status within market includes position london metal exchange lme enron metals former mg plc bought enron may 2000 company one 11 ring dealing members rdms lme enron corp north america biggest buyer seller natural gas electricity agreed dynegy buyout overwhelmed problems including u regulatory probe balance sheet dealings 1 2 billion cut shareholder equity credit rating downgrades copyright 2000 dow jones company inc rights reserved interview dynegy continue asset push europe sarah wachter dow jones newswires 11 13 2001 dow jones energy service copyright c 2001 dow jones 331 4017 1740 sarah wachter dowjones com copyright 2000 dow jones company inc rights reserved p lowers rtg enron related synthetic obligations 11 13 2001 business wire copyright c 2001 business wire london business wire standard poor nov 13 2001 standard poor today lowered rating gbp 200 million 8 75 series 2000 linked enron obligations issued yosemite securities co ltd bbb bbb rating action consequence lowering enron corp senior unsecured debt rating acts support yosemite securities co ltd bbb bbb nov 9 2001 downgrade enron corp prompted credit implications company restatement financial statements going back 1997 due part legal accounting review certain related party transactions special committee enron board directors rating series 2000 obligations lowered nov 7 2001 following enron corp previous downgrade nov 1 information rating actions please see related press releases ratingsdirect standard poor web based credit analysis system contact standard poor london perry inglis 44 20 7826 3857 rebecca geen 44 20 7826 3857 12 21 est november 13 2001 copyright 2000 dow jones company inc rights reserved uk interview u dynegy still hungry assets europe stuart penson 11 13 2001 reuters english news service c reuters limited 2001 london nov 13 reuters u energy group dynegy wants buy power stations europe looks underpin energy trading business boosted beyond recognition audacious takeover stricken american rival enron dynegy europe president chief executive officer gary cardone said company would retain strategy backing wholesale energy trading physical assets rather adopting enron pure trading approach european energy markets asset backed trading business coupled enron market making capabilities told reuters interview tuesday approach different enron added believed pure trading believed disciplined approach assets added dynegy agreed buy bigger rival enron 9 billion rescue deal deal announced last week came enron suffered share price collapse damaging credit downgrades triggered regulatory probe balance sheet dealings cardone said considered spain italy netherlands belgium attractive hunting grounds assets though said dynegy would remain cautious buyer new entrants europe liberalising energy markets overpaid assets recent deals said cardone declined comment speculation dynegy bidder two power stations britain bought last month 960 million u group american electric power co earlier year dynegy agreed buy gas storage business britain bg group 421 million pounds 608 million rush sell enron assets cardone said dynegy would rush dispose enron assets europe include power generation back wall fire sale look enron asset individually said enron interests around 4 500 megawatts electricity generating capacity italy spain poland turkey uk trading level cardone said takeover enron would lead consolidation declined give details companies set offices across europe recent years market liberalisation triggered increase energy trading including bg storage operation dynegy european staff 400 enron piled european energy trading recent years major driver liquidity european staff around 5 000 company among top gas power traders uk germany cardone said dynegy would operate one online trading platform enron much trading via enrononline internet platform dynegy trying build liquidity dynegydirect system initial thoughts enrononline outstanding platform said cardone adding dynegy might consider selling renting dynegydirect work one portal said enrononline great concept although convinced far behind dynegydirect said dynegy would rebrand enrononline enron products nothing called enron trade marks dynegy copyright 2000 dow jones company inc rights reserved help wanted enron trader resumes hit streets kristen mcnamara jennifer morrow 11 13 2001 dow jones energy service copyright c 2001 dow jones company inc new york dow jones noah ark name company emerges planned combination enron corp ene dynegy inc dyn according energy markets lore days logic goes two everyone enron gas electricity traders sure job recruiting firms attest past 60 days number resumes enron personnel increased substantially said william begley head energy utilities practice heidrick dynegy operation staffed 300 trimmings see lot enron traders street unless like hear dynegy said jack carr managing director prime energy partnership search recruiting company based uk office greenwich connecticut experienced energy trader four years experience earn 125 000 150 000 plus bonus according carr right enron traders feeling disappointed confused according one trader another company allow name used think nervous trader said enron people think better dynegy people dynegy people think buying pick stuff kristen mcnamara dow jones newswires 201 938 2061 kristen mcnamara dowjones com jennifer morrow 201 938 4377 jennifer morrow dowjones com copyright 2000 dow jones company inc rights reserved usa ice sets record energy metals trade volume 11 13 2001 reuters english news service c reuters limited 2001 new york nov 13 reuters intercontinental exchange ice atlanta based electronic marketplace said tuesday set several new trading records last week recorded strongest weekly performance since began operation 13 months ago clear shift energy metal trading activity october ice markets ceo jeffrey sprecher said statement sources said recent concerns enron corp crumbling credit rating helped divert line business ice trading volumes oil refined products set new weekly record 55 million barrels 11 million barrels per day 45 percent increase october daily average north american power volumes totaled record 54 million megawatt hours mwh week almost 11 million mwh per day 34 percent gain october activity north american natural gas traded 950 billion cubic feet 13 percent rise october ice said number natural gas transactions 30 percent indicating smaller average trade sizes precious metals trading week rose 66 percent october levels almost 3 million gold equivalent ounces trading open access marketplace ice seen steady gains liquidity last year 400 world largest commodity trading firms participating ice electronic trading system installed 7 000 desktops worldwide offers traders 600 listed commodity derivative contract types products traded ice include natural gas power crude oil refined products precious metals emissions allowances contracts include physical delivery well financially settled swaps spreads differentials options based variety fixed floating price indices ice founded last year bp deutsche bank goldman sachs morgan stanley dean witter royal dutch shell societe generale totalfinaelf additional partners helped launch gas trading operation include reliant energy aquila energy american electric power duke energy el paso energy mirant ice also offices new york houston chicago london singapore copyright 2000 dow jones company inc rights reserved uk dynegy sees problem bg storage deal 11 13 2001 reuters english news service c reuters limited 2001 london nov 13 reuters u energy group dynegy said tuesday expect planned takeover rival american group enron jeopardize purchase natural gas storage business britain bg group heard uk regulators imagine acquisition enron would change anything bg storage dynegy europe president chief executive gary cardone told reuters dynegy taking troubled enron 9 billion rescue deal agreed july buy bg storage 421 million pounds 608 million cash british government september said dynegy would provide assurances address potential competition worries deal spokesman uk energy regulator ofgem said early say whether dynegy takeover enron would influence regulator view bg storage deal dynegy enron significant traders uk spot gas market bg storage owns 30 wells five offshore platforms nine salt caverns 19 miles 30 km pipelines onshore natural gas processing terminal cardone said wanted boost bg storage industrial customer base around 60 end next year 26 30 currently bg storage give us ability aggregate new volume potential hub bring new gas norway said said dynegy would look expand storage operations back bg deal look opportunities storage said ability store natural gas becoming issue uk ageing gas fields lose swing capacity rapidly change output thus smooth demand supply blips copyright 2000 dow jones company inc rights reserved enron direct alberta urban municipalities association auma seal natural gas supply deal 11 13 2001 canada newswire copyright canada newswire 2001 calgary nov 13 cnw enron direct canada corp enron direct subsidiary enron corp nyse ene pleased announce entered long term natural gas supply services contract alberta urban municipalities association auma auma regular associate members looked enron direct innovative flexible energy solutions answer auma requirements excellent customer service competitive pricing contract flexibility enron direct providing auma regular associate members natural gas supply energy services plan help better manage energy costs enron direct pleased assisting auma members providing energy solutions deliver significant financial security said darren cross chief operating officer enron direct canada corp time uncertainty municipalities interested attaining stable price utility needs predictable gas price ensure stability crucial municipal budgets said lorne olsvik president alberta urban municipalities association auma looking supplier understood need competitive pricing well membership flexibility independence alberta municipalities small large understand volatile energy market affect bottom line needed find solution help manage gas costs enron direct innovative products services meet auma goals provide value looking said john mcgowan executive director alberta urban municipalities association regular associate members auma include 200 cities towns villages summer villages well municipally related non profit organizations boards commissions alberta urban municipalities association provides leadership advocating local government interests provincial government organizations addition providing services address needs membership enron one world leading energy commodities services companies company markets electricity natural gas delivers energy physical commodities provides financial risk management services customers around world enron internet address www enron com stock traded ticker symbol ene visit enron direct website www enrondirect com information laura renouf public relations coordinator enron direct 403 663 2823 09 30 et copyright 2000 dow jones john duncan former president gulf robert jaedicke emeritus professor accounting stanford university frank savage former chairman alliance capital international savage also sits board bloomberg l p owner bloomberg news cash crunch enron battling cash crunch loss investor confidence year questions partnerships started put control senior executives suppose important dynegy keep lay loyalty among staff legg mason whalley said textbook financial collapse obviously knowledge going severance package pretty poor enron acquisition watson dynegy president chief operating officer stephen bergstrom retain top two positions two members office chairman plots company strategy dynegy doty continue cfo enron greg whalley executive vice president greg whalley enron president chief operating officer shares enron rose 74 cents 9 98 dynegy rose 2 63 46 94 companies based houston dynegy saved enron merger last minute pact updatel 2001 11 13 15 02 new york dynegy saved enron merger last minute pact updatel adds lehman izatt previously worked moody houston nov 13 bloomberg dynegy inc chief executive officer charles watson got word 7 00 thursday plan take enron corp largest energy trader danger moody investors service planned lower enron credit rating junk barely hour moody announce downgrade watson enlisted bankers including lehman brothers holding inc chief executive richard fuld lobby credit rating agency hold one argument u economy contracting sept 11 terrorist attacks country need another bankruptcy lobbying succeeded price executives persuaded moody lower rating one level enron remained investment grade credit exchange six concessions including one made harder dynegy walk away 23 billion acquisition twenty four hours later agreement reached moody decision critical watson said interview even want think would happened enron downgraded junk frances laserson moody vice president corporate communications declined comment discussions clients highly confidential said critical role moody played critical role part enron already trouble raising money company rating lowered october slowdown economy prompted banks restrict credit downgrade junk moody rates 85 trillion securities would created cash crisis forcing enron repay early 3 3 billion bonds limiting ability sell short term debt junk rating would prompted dynegy abandon acquisition said watson cost lehman j p morgan chase co salomon smith barney inc collective 105 million fees advising two companies seeking salvage rating executives argued downgrade junk would lead enron file bankruptcy protection said moody would shoulder blame according people involved conversations thursday morning moody willing take risk executives ratings company led chief administration officer debra perry told watson bankers lehman issue press release cutting enron junk moody officials said enron keep investment grade rating company access commercial paper market probe securities exchange commission accounting practices 90 percent plunge shares eroded investor confidence calling friends little time respond watson senior wall street bankers swung action watson called friend david reilly chief executive officer chevrontexaco inc dynegy largest shareholder reilly time short notice push enron case watson said next enlisted john watson chevrontexaco chief financial officer darald callahan member boards dynegy chevrontexaco call moody lehman ceo fuld chief fixed income analyst ted izatt also pitched j p morgan ceo harrison michael carpenter runs salomon citigroup inc unit izatt 1 ranked analyst investment grade energy companies according institutional investor magazine previously worked managing director moody j p morgan chase salomon advising enron officials lehman j p morgan chase salomon declined comment spokespeople fees watson said bankers argued combined dynegy enron would much stronger company given 1 5 billion cash injection chevrontexaco owns 26 percent dynegy honest understand moody difficulties making happen watson said later day moody executives told dynegy prepared keep enron investment grade long six changes made proposed acquisition according watson changes focused around material adverse change clause allowed dynegy cancel deal certain conditions one changes would required dynegy eliminate clause allowed company walk away enron debt ratings cut junk watson said agreed changes things got bad enough enron taken junk would probably material change business would allow us walk away said chevrontexaco watson kenneth lay enron ceo signed revised terms thursday chevrontexaco however yet agree reilly first heard changes lehman bankers dinner thursday night celebrating chevron corp 45 8 billion acquisition texaco inc held victor stewart steakhouse walnut creek san francisco according people dinner lehman bankers including steve wolitzer co head mergers acquisitions two colleagues carlos fierro grant porter flew san francisco day participate advised chevron deal flight received emails blackberry pagers colleagues houston detailing concessions moody sought tuna steaks discussing new terms reilly tuna steaks filet mignon group agreed reconvene chevron offices san ramon california 6 45 local time friday morning officials deliberating moody cut rating enron baa 3 one level junk john diaz managing director follows company moody said time enron needs shore confidence company counter parties continue trade moody maintained negative outlook chevron still needed time consider terms 5 50 p new york time reilly called dynegy watson tell chevron board agreed 15 minutes later enron dynegy announced purchase amazing deal came together watson said enron corp raised maintain position edward jones 2001 11 13 10 44 new york princeton new jersey nov 13 bloomberg data enron corp ene us raised maintain position reduce analyst brian youngberg edward jones lemon laws save dynegy peter eavis senior columnist realmoney com 11 13 2001 07 21 est believe dynegy dyn nyse news commentary account planned purchase energy trading rival enron ene nyse news commentary getting slightly damaged mercedes price pinto face value appears fabulous deal dynegy acquiring weakened repairable competitor cheap like problem dynegy seems taking rather sunny view enron future recent earnings restatements revelations suggest enron may actually junker comes profitability though enron disclosure practices make impossible know sure indications dynegy expect write value enron assets large amounts true certainly raise eyebrows given poor performance many enron businesses dynegy proves optimistic merger math investors may start betting deal outcome would increase suspicions dynegy rushed merger enron collapse would cratered business echoing statements dynegy executives monday conference call company spokesman steve stengel denied company merger feared damaged enron collapse dynegy actually owes enron money rather way round said enron core business strong key reason dynegy undertook merger discussions enron stengel remarks stocks rose sharply monday enron adding 61 cents 9 24 dynegy rising 5 55 14 44 31 still enron remains 22 dynegy implied acquisition price stock action suggests market deeply divided deal deep discount enron sign deal get done yet dynegy leap implies solid investor backing transaction economics know enron numbers able judge whether dynegy investors right bullish however strong indeed among deal avid supporters number sell side analysts longtime enron bulls particularly liked dynegy prediction combined entity called dynegy would post earnings 35 current 2002 estimates stand alone dynegy bulls point accretion number include merger synergies assumes enron 2002 earnings 1 50 25 lower analysts currently expect dynegy executives repeatedly stated monday wanted get rid enron noncore operations keep trading business contributed lion share enron earnings well pipeline assets clearly dynegy believes enron core trading business made real profits much leap faith considerable one column noted enron make possible break profit margins trading included wholesale line enron income statements fact wholesale line includes substantial asset gains many probably one time nature enron deals obscure partnerships gave huge boost profits according earnings restatements made last week forget partnership dealings investigation securities exchange commission without excluding one time sales enron traders may actually make little marky mark one fear dynegy would mark enron underperforming assets billions dollars charges erode equity lower equity would possibly mean higher debt capital ratio calculated taking debt percentage total capital debt plus equity ratio gets 50 55 rating agencies might consider downgrading dynegy could deter counterparties trading dynegy expects debt capital ratio 40 merged institution somewhat implausibly dynegy forecasts appear factor big markdowns enron equity third quarter next year enron equity expected 9 5 billion slightly probably end year third quarter enron still released third quarter balance sheet decrease next 12 months person familiar matter says dynegy also expects mark enron assets time deal closing markups expected least partially offset markdowns person adds tough identify enron assets could qualify hefty positive adjustments easier point assets deserve negative ones dynegy needs break markups markdowns reveal assets subject adjustments dynegy stengel comment question equity writedowns stretching far assumptions dynegy may trying dress risky merger safe one risky merger may dynegy view preferable enron go monday dynegy execs said done due diligence believe huge skeletons enron closet could upset merger contrast stance standard poor analysts said friday would downgraded enron debt junk status dynegy agreed buy enron one p analysts said friday full understanding partnerships enron dealing p like rating agencies locked deep detailed discussions enron weeks know effect partnerships dynegy dynegy business enron 16 years know know us stengel replies comfortable due diligence conducted thus far continue look enron operations coming weeks months dynegy comes details assume enron pinto dynegy asked ferc revise regs cbsmarketwatch com 11 13 01 lisa sanders houston cbs mw long enron northern natural gas pipeline entered picture dynegy complained federal energy regulatory commission companies pipeline systems crowding competitors natural gas transmission market filing dated jan 5 2001 dynegy dyn asked speak front ferc characterized affiliate abuse structural preferences alive growing gas industry even dynegy 9 billion takeover enron fails power generator keep energy trader northern natural gas pipeline according merger agreement kind complaining said raymond plank chairman chief executive natural gas oil producer houston based apache corp apa interview northern natural enron ene largest transmission system 17 000 miles pipeline position changed dynegy spokesman steve stengel said e mail cbs marketwatch com believe companies able abuse power within market also believe regulators need continue monitor markets ensure market abuse occur subsequent e mail stengel said going comply fully ferc regulations answer response question dynegy plans guard abuse owns pipeline system executive summary dynegy filed ferc company claimed structural affiliate preference far greater threat market participants coming years dynegy contended pipeline transmission company affiliate always pay withstand greater risk services purchased home pipelines benefits inuring parent holding company dynegy also alleged affiliates control pipelines crowd competitors one concern dynegy listed vertical overlapping gas pipeline companies utilities dynegy owns electric gas utility illinois power comments dynegy advocated structural changes affiliate relationship order prevent abuse system eliminate preference problem dynegy also recommended rampant abuse found company required divest non regulated affiliate sept 26 ferc issued statement proposing set uniformly applied regulations oversee relationship regulated transmission providers energy affiliates citing sweeping changes gas electricity markets ferc said current rules fail address sharing confidential shipper information transportation information energy affiliates ferc proposed employees transmission providers involved operation transmission systems function apart providers sales marketing employees energy affiliates addition prohibition preferential sharing transmission information would broadened include energy affiliates ferc stated apache plank said company process figuring best help apache wants take volatility energy market pegs dynegy enron major contributors situation government says believe transparency believe applies everyone else said let us know looking could helpful interest u shares dynegy added 89 cents 45 20 tuesday trading enron advanced 15 cents 9 39 lisa sanders dallas based reporter cbs marketwatch com compaq continental eliminate jobs houston feels pain 2001 11 13 17 20 new york compaq continental eliminate jobs houston feels pain houston nov 13 bloomberg houston problem fourth largest u city shaken declines three biggest employers continental airlines inc compaq computer corp enron corp last week agreed takeover local rival dynegy inc amid financial crisis airline computer maker cutting tens thousands jobs slumping economy reduced demand following sept 11 terrorist attacks analysts said business growth slow houston home president george w bush halliburton co oilfield services company run vice president dick cheney city largest employer couple favored sons white house seem matter everything else going wrong said mark vitner economist wachovia securities inc historically boom bust city host reasons floor crumbling beneath houston identity closely tied businesses houston astros baseball team plays enron field downtown retractable roof stadium enron paid 100 million put name 42 000 seat stadium compaq center home houston rockets basketball team city decades symbol oil energy industries last 10 years become representative u economy federal reserve chairman alan greenspan one guardians economy scheduled speak james baker institute public policy houston rice university today houston home 21 fortune 500 companies last year rose become world 30 th largest economy gross domestic product 34 th houston gdp rose average 4 5 percent last four years growth rate slowed 1 3 percent first nine months 2001 cutbacks continental fifth biggest airline u houston second biggest biggest employer said september would cut 12 000 jobs attacks new york city washington kept travelers home compaq houston fifth largest employer agreed bought rival hewlett packard co transaction met skepticism analysts investors transaction go companies plan chop 15 000 jobs analysts investors said last month expected total number job cuts approach 30 000 companies dynegy executives say 23 billion acquisition enron result profitable energy trading company combination also cause job reductions companies overlapping businesses analysts said houston economy take hit job cuts said robyn kapiloff moody investors service credit rating company taking wait see approach moody rates city bonds aa 3 high investment grade houston airport bonds rated al optimism houston officials say city rebound people houston take kind new york attitude economic problems said sharon adams houston deputy controller say times hard 1980 come stronger last month houston put short list u finalists bid 2012 summer olympics along new york washington c san francisco long run city great quality life infrastructure absorb losses said barton smith director institute regional forecasting university houston