enron mentions 11 20 01 enron warns problems eroding profit wall street journal 11 20 01 front page companies markets wall st worries enron deal financial times 11 20 01 enron drops earnings 3 rd quarter 690 million dept comes due downgrade firm houston chronicle 11 20 01 bankers concerned dynergy may abandon enron deal report afx news 11 20 01 brief energy enron may forced settle 690 million debt los angeles times 11 20 01 brief accounting arthur andersen probe requested los angeles times 11 20 01 u official calls probe andersen 2 problem audits wall street journal europe 11 20 01 career journal jungle wall street journal 11 20 01 new filing enron reports debt squeeze new york times 11 20 01 decision locate conocophillips houston enhances world energy capital associated press newswires 11 20 01 companies toils restructure 690 payment canadian press 11 19 01 enron restates third quarter earnings associated press newswires 11 19 01 usa enron sounds debt alarm reduces reported earnings reuters english news service 11 19 01 enron warns raft problems may hurt fourth quarter profit dow jones business news 11 19 01 enron files 10 q 3 q sec dow jones news service 11 19 01 fears mount enron dynasty deal cnnfn markets impact 11 19 01 enron reduces earnings warns 690 mln payment due update 2 bloomberg 11 19 01 chevrontexaco sees investor suits threat enron updatel bloomberg 11 19 01 enron says may pay 690 mln note next week bloomberg 11 19 01 enron azurix may sell assets borrow bloomberg 11 19 01 u dingell seeks probe arthur andersen dow jones says bloomberg 11 19 01 enron restates q 3 results cbs marketwatch com 11 19 01 enron warns problems eroding profit rebecca smith staff reporter wall street journal 11 20 2001 wall street journal bl 6 copyright c 2001 dow jones company inc enron corp warned continuing credit worries decline value assets reduced trading activity could hurt fourth quarter earnings energy company said may forced take 700 million pretax hit earnings due plunge value assets held one investment partnerships partnership whitewing llp held assets book value 4 7 billion nov 16 drop value enron stock held partnership could result derivative loss 700 million company said addition enron houston said may come money honor collateral call 690 million note note became demand obligation nov 12 enron credit rating got lowered triple b minus standard poor company disclose holds note got nine days either repay note post letter credit start liquidating assets said company spokesman mark palmer one assets includes c e g rio gas distribution company brazil enron already process selling whose proceeds intended use forms debt reduction company said trying negotiate waiver extension credit provision lenders preserve cash enron set number partnerships years hedge investment risks cases keep debt balance sheet wake securities exchange commission formal probe accounting disclosure practices launched oct 31 company restated earnings downward dating back 1997 consolidated debt back onto balance sheet company nov 9 agreed merge competitor dynegy inc latest sec filing said sued shareholders nov 12 state court houston prevent merger happening petition alleges enron directors breached fiduciary duties enron shareholders agreeing sell enron inadequate consideration without adequate investigation alternatives available enron enron said would vigorously defend yesterday filing included numerous changes previously reported numbers revenues expenses original third quarter statement company reported loss 618 million stated loss increased 635 million last week latest filing loss quarter ended sept 30 widened 664 million enron added numbers contained latest filing necessarily final external auditor arthur andersen completed review internal audit committee finished reviewing firm accounting practices copyright 2000 dow jones company inc rights reserved front page companies markets wall st worries enron deal andrew balls andrew hill gary silverman 11 20 2001 financial times c 2001 financial times limited rights reserved senior wall street bankers concerned dynegy could walk away proposed 9 8 bn 6 8 bn rescue bid rival energy group enron move would severe repercussions energy trading sector financial markets series interviews financial times bankers expressed worries credit rating agencies assured extremely difficult dynegy pull company shareholders impression material adverse change clause could triggered way say deal definitely going happen even likely happen one banker said knock effects going ahead good added none bankers would agree publicly identified possibility dynegy dropping deal discussed senior bankers jp morgan chase citigroup advising enron met officials moody credit rating agencies 10 days ago rating agency expressed concerns would easy dynegy give bid undermining enron creditworthiness moody decision preserve enron investment grade rating one main reasons dynegy able go ahead rescue bid justifying stock bid chuck watson chairman dynegy said last week buying company low price fraction enron market capitalisation peak 2000 major protection failure admitted much last round negotiations moody spent reassuring material adverse change clauses merger agreement loose according dynegy material adverse change clauses relate outcome securities exchange commission inquiry enron finances possible litigation energy company balance sheet strength earnings forecasts www ft com enron c copyright financial times ltd rights reserved http www ft com copyright 2000 dow jones company inc rights reserved enron drops earnings 3 rd quarter 690 million debt comes due downgraded firm tom fowler copyright 2001 houston chronicle enron corp financial well continues moving target company made adjustments earnings monday securities exchange commission filing enron said reduced third quarter earnings 3 cents per share increased earnings first nine months 2001 1 cent reflect recently discovered accounting errors company also said recent credit rating drop may force pay 690 million note nov 27 find collateral guarantee debt revelations came embattled energy trader 10 q document companies must file every quarter details earnings balance sheet enron delayed releasing 10 q five days said filing made monday fully audited accounting firm andersen ongoing investigation company board directors need time continuing review transactions question making progress investigation said william k powers jr chairman enron special investigation committee dean university texas school law enron pending 690 million iou related limited partnership buy natural gas assets brazil one terms partnership requires enron repay debt credit rating slips bbb rating agency standard poor scale nov 12 enron put collateral equal amount note repay partners deal sell partnership assets enron officials said filing working lenders come acceptable agreement debt enron debt rating continues drop would put investment grade company would face another 3 9 billion debt repayments company said filing mainly two partnerships formed recent years 2 4 billion owed osprey trust 915 million marlin water trust enron negative review rating agencies cash infusion dynegy combined additional lines credit number investment banks possible 500 million 1 billion equity investment investors expected keep ratings afloat turmoil around enron finances started oct 16 steep losses third quarter earnings drew renewed attention pair investment partnerships created former chief financial officer approval company board directors ljm partnerships formed using enron equity outside capital way hedge risks involved company new lines business designed help company grow quickly without adding much debt books diluting value company stock cfo dual roles company executive managing director entities prompted sec investigation well internal enron investigation led company cut earnings past 4 1 2 years nearly 600 million problems shook investor trading partner confidence enron led sharp drop stock price cuts credit rating company eventually reached deal rival dynegy acquired almost 9 billion stock plus assumption almost 13 billion debt 2 billion preferred stock fallout enron crumble spreading major service providers including andersen firm named defendant least one shareholder lawsuit monday rep john dingell mich called investigation andersen connection audits enron houston based waste management best accounting standards world meaningless accounting audit processes inept corrupt produce unreliable numbers untruthful reporting dingell wrote letter public oversight board requesting investigation andersen based chicago large houston office strong foothold energy industry clients including enron dynegy critics andersen said firm done enron auditor draw investors attention company unusual finances lawsuit filed oregon alleged andersen judgment swayed lucrative consulting fees received enron auditor june andersen fined 7 million sec settle charges filed false misleading audit reports waste management largest civil penalty big five accounting firm andersen admit deny charges reuters news service contributed story bankers concerned dynergy may abandon enron deal report 11 20 2001 afx news c 2001 afp extel news ltd london afx senior wall street bankers concerned dynergy inc could walk away proposed rescue bid rival energy group enron corp reports financial times without citing sources ft says bankers worried company could trigger material adverse change clause deal mps mkp information contact afx www afxnews com www afxpress com copyright 2000 dow jones financial desk brief energy enron may forced settle 690 million debt reuters 11 20 2001 los angeles times home edition c 3 copyright 2001 times mirror company enron corp warned regulatory filing could forced pay 690 million debt next week reduced already abysmal third quarter earnings energy giant said downgrading debt last week triggered monday deadline repay offer collateral 690 million owed party one partnerships debt paid partner could liquidate partnership assets include brazilian natural gas company enron counting selling raise 250 million cash enron already used 3 billion credit line secured roughly 2 billion loans looking cash company reduced previously reported results third quarter 3 cents share according filing securities exchange commission would put loss 87 cents share copyright 2000 dow jones financial desk brief accounting arthur andersen probe requested reuters 11 20 2001 los angeles times home edition c 3 copyright 2001 times mirror company congressman called investigation big five accounting firm arthur andersen connection audits enron corp waste management inc according letter released monday turning heat conflict interest issue among world largest bean counters rep john dingell mich asked public oversight board review special investigation arthur andersen llp said letter dingell also asked board look peer reviews arthur andersen conducted recent years accounting firms including deloitte touche questioned value triennial peer review process place since 1978 arthur andersen based chicago auditor houston energy trading giant enron rocked recent weeks securities exchange commission probe outside partnership deals involving company officers enron stock price plunged several managers resigned numerous shareholder lawsuits pending copyright 2000 dow jones company inc rights reserved u official calls probe andersen 2 problem audits judith burns dow jones newswires 11 20 2001 wall street journal europe 22 copyright c 2001 dow jones company inc washington concerned accounting profession ability police senior house representatives democrat called special investigation arthur andersen llp audits enron corp waste management inc letter u public oversight board chairman charles bowsher released monday rep john dingell michigan democrat requested review andersen audits enron waste management two high profile audit failures enron houston recently agreed acquired crosstown rival dynergy inc acknowledged overstated net income 586 million 662 5 million euros need restate financial reports dating back 1997 u securities exchange commission investigating enron treatment investments limited partnerships tied former chief financial officer andrew fastow enron problems come heels another audit debacle andersen june firm reached 7 million settlement sec neither admitted denied allegations fraud audit waste management andersen waste hauler paid 220 million 1999 settle class action lawsuits alleging massive accounting fraud inflated waste management reported earnings mid 1990 addition sec probe role enron matter andersen undergoing routine peer review deloitte touche dingell suggested review may clouded fact deloitte touche hired outside lawyers representing special committee enron board directors given potential conflict interest part deloitte touche andersen track record appears little reason public faith andersen peer review process mr dingell wrote copyright 2000 dow jones company inc rights reserved career journal jungle kemba j dunham 11 20 2001 wall street journal bl 0 copyright c 2001 dow jones company inc focus retirement pay getting ahead passing senior executives spurning hefty severance packages last week enron corp chairman kenneth lay decided forgo 60 6 million severance payment would triggered dynegy inc planned acquisition houston energy trader enron initially said mr lay would keep one third planned payout take shares combined company later decided severance payment criticism influential energy traders produce enron profits environment seeing producers putting pressure managers managers putting pressure producers ensure pay line performance says ira kay executive compensation practice leader pay benefits consultants watson wyatt worldwide new york alan johnson managing director new york pay consultants johnson associates says mr lay initial intention accept portion severance represents continuing trend executives clueless 12 months ended aug 31 mr lay received 70 million exercising enron stock options according disclosure reports tracked thomson financial three top executives us airways group inc including chief executive rakesh gangwal chairman stephen wolf passed severance deciding stay company planned merger fell trio stood gain 45 million resigning result severance agreements triggered shareholder approval defunct merger accord ual corp us airways sept 19 annual meeting said would remain company firm relationship new york law firm cadwalader wickersham taft last week rolled unusual formal mentoring program first year associates two hours month least year associate meet designated mentor typically midlevel associate discuss issues career development relationship click new pairings made cwt hires 50 law school graduates year jordan schwartz firm hiring partner says initiative sparked 2000 survey midlevel associates 165 u law firms conducted american lawyer magazine poll assesses associates perceive treated ranked firm last accurate reflection firm says wake call cwt created associate task force identified key issues explored ways improve quality work life mentoring program one result hiring blitz despite rising joblessness employers hiring big way ziprealty inc online real estate broker richmond calif recently announced plans hire 1 000 real estate agents within next 18 months 135 agents work home large consumer demands right want make sure great realtors says scott kucirek executive vice president people culture since august ziprealty hired nearly 30 agents month 12 markets include los angeles phoenix san diego chicago company three full time recruiters sending e mails making calls market recruitment effort database contains 200 300 prospects job usually pays commission offers perks company pay new agents 1 500 month three months give time make connections sell home pay entirely commission based new hires also receive cellphone car allowances e mail comments kemba dunham wsj com copyright 2000 dow jones section c new filing enron reports debt squeeze richard oppel jr floyd norris 11 20 2001 new york times page 1 column 2 c 2001 new york times company enron corporation told investors yesterday faced debt repayments next year vastly excess available cash said number things went wrong ability continue going concern would called question delayed quarterly filing securities exchange commission company said would repay 690 million debt next tuesday come collateral loan enron 1 75 billion cash credit lines available faces debt repayments obligations 9 15 billion end next year report third quarter filed five days late says company faces immediate demand 3 9 billion debts credit rating downgraded enron independent auditors firm arthur andersen able complete review enron financial statements third quarter andersen already faces lawsuits audits enron books related enron disclosure month overstated almost 600 million profits last five years enron said restate statements andersen certified statements longer relied upon yesterday representative john dingell michigan ranking democrat house energy commerce committee called investigation arthur andersen handling enron audits spokesman andersen could reached last night enron nation largest energy trader agreed acquired dynegy inc smaller crosstown rival houston credit rating agencies said failure deal go would lead downgrading enron lowest investment grade rating downgrades could lead collapse enron core energy trading business analysts say energy trading companies might stop business enron entirely dynegy deal expected close sometime next year disclosures yesterday indicate enron may face challenges meeting obligations particularly closing deal delayed enron said hoped complete transaction end next september enron talks obtain 500 million 1 billion additional financing equity infusion major banks institutions addition executives said hoping close deals sell 800 million assets end year perhaps billion dollars assets next year enron also set receive 1 billion infusion chevrontexaco owns 27 percent stake dynegy deal closes next year still even factoring cash flow enron core energy trading operations enron could left well short needs satisfy huge obligations due end next year meaning enron probably work persuade bankers restructure debts extend maturities carol coale analyst prudential securities houston said new disclosures indicated enron troubles run deeper investors analysts believed even stock crashed early month merger dynegy announced initial read might like run bank ms coale said sounds like enron problems actually inherent perceived enron deal dynegy calls enron holders receive 0 2685 dynegy share enron share trading since deal announced enron share price lagged dynegy price reflecting investor doubts deal completed announced terms new york stock exchange trading yesterday enron filing released enron rose 6 cents 9 06 dynegy rose 1 13 43 60 prices value dynegy offer 29 2 percent enron share price compared 20 6 percent difference deal announced debts enron might pay quickly bond rating lowered could satisfied selling shares sales would probably reduce stock price merger agreement dynegy provides exchange ratio would reduced enron sold stock prices implied value merger currently 11 71 enron share hours trading yesterday release enron filing share price slipped 9 enron previously said reducing profits taken previous years 500 million yesterday filing provided additional details enron relationships various related partnerships whose debts enron could forced pay said additional write offs could come early current quarter concluded asset values partnerships declined said enron stock value fallen one write could 700 million disclosures show enron erected complicated financial structures cases seem meant allow company avoid taking losses assets cases aimed keeping debts balance sheet collapse enron stock price worsened situation entities greatly increased cost enron would face needed pay debts possible predict enron warned investors whether asset sales debt refinancings would successful adverse outcome respect matters would likely material adverse impact enron ability continue going concern copyright 2000 dow jones company inc rights reserved decision locate conocophillips houston enhances world energy capital pam easton associated press writer 11 20 2001 associated press newswires copyright 2001 associated press rights reserved houston ap decision base oil giant created combination phillips petroleum co conoco inc houston home smaller conoco helps cement city status nation energy capital houston already energy capital world proves said mark baxter director maguire energy institute southern methodist university dallas major players houston houston accommodate employee growth base said easier conduct business houston market major companies support houston well dlrs 15 6 billion deal announced sunday would create nation third largest oil producer may mean prestige houston even though nation two largest oil companies irving based exxonmobil san francisco based chevrontexaco headquarters located elsewhere thousands employees working nation fourth largest city began 1901 spindletop strike southeast texas oilmen discovered much continental united states vast oil resources lay beneath texas soil historically oil gas centers sprang adjacent oil gas discoveries said david bole vice president randall dewey inc houston based oil consulting firm certainly high speed communications developed last 30 years decision making centralized financial centers set houston apart many emerging oil centers caliber early wildcatters vision ability build mega companies many cases legacy built houston today oil capital shell oil co based houston alongside several producers numerous offshore drilling oil field services pipeline oil field firefighting related companies recent years city also become home large energy trading firms dynegy inc enron corp reliant inc others together operate dozens computerized energy trading floors scattered throughout city consolidation cumulative self fulfilling process centralizing important pieces oil industry one place bill gilmer economist houston federal reserve bank dallas wrote recent publication principles course draw moviemakers hollywood financial service providers new york automakers detroit seems energy companies houston copyright 2000 dow jones company inc rights reserved companies finance americas energy deal savings set increase andrew hill 11 20 2001 financial times c 2001 financial times limited rights reserved chevrontexaco yesterday increased annual savings expected achieve merger two oil groups 1 8 bn march 2003 david reilly chief executive told analysts combined company would also meet original synergy target 1 2 bn within six nine months deal completed last month mr reilly also said expected oil gas production grow annual rate 2 5 3 per cent next five years dismissed worries falling oil price business used swings volatility want stable price environment want business told reporters addressing analysts new york mr reilly said news latest big merger industry 35 bn deal conoco phillips petroleum made confident chevrontexaco deal right chevrontexaco claims third largest energy company terms global oil reserves fourth largest global oil natural gas production said synergies translated gains 1 per share tax chevrontexaco important role dynegy rescue bid enron rival energy group chevrontexaco 26 per cent stake dynegy immediately invested 1 5 bn convertible preferred shares dynegy fund direct equity infusion enron chevrontexaco committed buying 1 bn dynegy common stock dynegy completes takeover deal fails chevrontexaco redeem convertible preferred shares 1 5 bn cash convert common shares giving 36 per cent stake equity mr reilly said yesterday group committed deal despite worries potential hidden liabilities enron chevrontexaco review potential litigation risks enron mr reilly said full suite due diligence needed done issues enron enron lenders welcomed energy company openness yesterday following meeting new york greg whalley enron president led meeting postponed dynegy began talks enron two weeks ago much senior management good job said one another banker said enron management pretty upfront problems company although said lenders reluctant air concerns full crowded meeting c copyright financial times ltd rights reserved http www ft com copyright 2000 dow jones company inc rights reserved u equity preview enron hot topic metlife ual 2001 11 20 01 25 new york u equity preview enron hot topic metlife ual new york nov 20 bloomberg following list companies whose shares may move u markets today preview includes news occurred markets closed yesterday stock symbols parentheses company name likely move enron corp ene fell low 8 78 hours trading closed 9 06 regular trading energy company acquired rival dynegy inc cut third quarter earnings second time company also said drop credit rating may force make early payment 690 million note month dynegy rose 1 13 43 60 loudcloud inc ldcl rose high 3 91 hours trading closed 3 15 regular trading manager corporate web sites said expects fourth quarter loss 55 cents 56 cents share sales 15 5 million 15 7 million forecast loss 66 cents fourth quarter average estimate analysts polled thomson financial first call semtech corp smtc rose high 39 50 hours trading closed 38 70 regular trading maker chips communications equipment personal computers said third quarter profit operations 10 cents share 22 cents year ago including gain semtech would earned 12 cents company expected report profit 9 cents average forecast analysts surveyed first call others dal tile international inc dtl maker tiles said statement distributed pr newswire agreed acquired mohawk industries inc mhk combination cash stock valuing shares 23 10 based closing price mohawk shares monday company officials reached comment dal tile shares rose 70 cents 17 60 delta pine land co dlp cotton seed company said raise quarterly dividend 5 cents share last quarter payment 4 cents according press release issued pr newswire increased dividend paid dec 14 shareholders record nov 30 company officials immediately reached comment delta pine land rose 10 cents 18 fashionmall com inc fash operator internet shopping site brand name clothing shoes accessories cut staff three people oct 15 cut number one person end year company reviewing business operations according statement distributed pr newswire company officials reached comment fashionmall com shares rose 10 cents 2 45 hot topic inc hott seller music inspired merchandise said triple number torrid stores plus size young women next year third quarter profit rose 39 cents share 34 cents year earlier hot topic said profit next fiscal year 1 55 share less 1 59 average estimate eight analysts polled first call hot topic rose 1 73 28 58 h r block inc hrb tax form preparing company agreed acquire equico resources llc investment bank specializes merger acquisition work middle market companies terms disclosed h toils restructure 690 payment ap 11 19 2001 canadian press copyright c 2001 canadian press rights reserved houston ap _ embattled enron corp examines books energy trader restated third quarter results monday increasing loss period three cents share 87 cents company also disclosed trying restructure 690 million obligation could come due nov 27 enron spokesman mark palmer said company cash hand pay obligation would like restructured extended working lenders restructure extend term obligation said palmer said enron credit rating reduced triggered clause one limited partnership agreements could cause 690 million obligation become due beginning next week houston based enron purchased rival dynegy inc escape spate problems shattered wall street confidence also increased nine month earnings penny 20 cents share dynegy purchasing company 7 8 billion stock sec filing nov 8 enron said financial statements 1997 first half 2001 relied upon outside businesses run enron officials period included company earnings reports would reduced enron profits years 586 million 2 89 billion 2 31 billion addition company revised debt upward year 1997 2000 end 2000 enron debt 10 86 billion 628 million previously reported disclosing debt earlier enron presumably maintained stronger credit rating able vastly increase size core operations _ trading natural gas electricity wholesale markets filing securities exchange commission monday enron explained auditor arthur andersen llp finalized review company financial statements ongoing investigation special committee appointed enron board directors filing enron reiterated developing plan exit 8 billion non core businesses performing acceptable rates expects use proceeds repay debt copyright 2000 dow jones end 2000 enron debt dlrs 10 86 billion dlrs 628 million previously reported disclosing debt earlier enron presumbably maintained stronger credit rating able vastly increase size core operations trading natural gas electricity wholesale markets filing securities exchange commission monday enron explained auditor arthur andersen llp finalized review company financial statements ongoing investigation special committee appointed enron board directors continuing review transactions question making progress investigation said william k powers jr chairman special committee dean university texas school law merger expected go next summer dynegy backed major investor chevrontexaco inc also assume dlrs 13 billion enron debt enron agreed bought stock price plunged 80 percent weeks disclosed third quarter loss followed acknowledgment securities exchange commission investigating partnerships run company officials partnerships led dlrs 1 2 billion reduction shareholder equity allowed enron keep half billion dollars debt books credit services also diminished enron long term debt junk grade filing enron also reiterated developing plan exit dlrs 8 billion non core businesses performing acceptable rates able use proceeds repay debt shares enron 6 cents dlrs 9 06 trading monday new york stock exchange enron announced latest filing market close net http www enron com copyright 2000 dow jones company inc rights reserved usa enron sounds debt alarm reduces reported earnings c bryson hull 11 19 2001 reuters english news service c reuters limited 2001 houston nov 19 reuters humbled energy giant enron corp monday warned could forced pay 690 million debt next week reduced already abysmal third quarter earnings houston company sounded debt credit alarms filing made monday u securities exchange commission among new information included disclosure enron short deadline meet 690 million debt obligation triggered credit downgrade last week marked start nine day period expires nov 26 enron must lay collateral debt owed third party one myriad partnerships partner right liquidate assets partnership includes brazilian natural gas company enron counting selling raise 250 million cash company 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 also reduced previously reported 2001 third quarter earnings 3 cents per share increased previously reported earnings first 9 months year penny per share move reflects adjustments made quarter end enron said oct 16 enron reported loss 638 million 84 cents per share third quarter 2001 nov 8 enron said restated earnings 1997 2000 net income four year period half billion lower originally reported also warned drop credit rating could force pay 3 9 billion partnerships bulk osprey trust marlin water trust outcome would keep enron paying revolving credit accounts would likely material adverse impact enron ability continue going concern company wrote enron released figures earlier yet state stark terms dire risk debts pose viability credit could killer moody investors service standard poor month cut respective senior unsecured debt ratings enron baa 3 bbb minus one notch junk status warned may cut respective ratings moody also cut enron short term debt rating affects commercial paper prime junk rating nearly partnership deals enron guaranteed financing received promise issue enron shares partners credit fell investment grade stock price certain levels close trading monday new york stock exchange enron shares 9 06 well trigger prices partnerships enron used finance projects way kept balance sheet become proud company bane sec investigating potential conflict interest issues involving two partnerships ousted chief financial officer andrew fastow served general partner enron extract partnerships led 1 2 billion reduction enron shareholder equity revelation equity reduction started one stunning rapid corporate collapses recent memory leaving enron bought nov 9 smaller cross town rival dynegy inc fire sale price 9 billion stock unusual note enron said financial statements filing audited independent accountant per sec regulations need arthur andersen llp enron independent auditors complete review procedures arthur andersen comment enron said ongoing investigation special committee appointed enron board directors look partnership dealings precludes audit completion additional reporting andrew kelly houston jonathan stempel new york copyright 2000 dow jones company inc rights reserved enron warns raft problems may hurt fourth quarter profit 11 19 2001 dow jones business news copyright c 2001 dow jones company inc enron corp warned continuing credit worries decline value assets reduced trading activity could hurt fourth quarter earnings tuesday wall street journal reported energy company said may forced take 700 million pretax hit earnings due plunge value assets held one investment partnerships partnership whitewing llp held assets book value 4 7 billion nov 16 drop value enron ene stock held partnership could result derivative loss 700 million company said addition enron houston said may come money honor collateral call 690 million note note became demand obligation nov 12 enron credit rating got lowered triple b minus standard poor company disclose holds note got nine days either repay note post letter credit start liquidating assets said company spokesman mark palmer one assets includes c e g rio gas distribution company brazil enron already process selling whose proceeds intended use forms debt reduction company said trying negotiate waiver extension credit provision lenders preserve cash enron set number partnerships years hedge investment risks cases keep debt balance sheet wake securities exchange commission formal probe accounting disclosure practices launched oct 31 company restated earnings downward dating back 1997 consolidated debt back onto balance sheet company nov 9 agreed merge competitor dynegy inc dyn latest sec filing said sued shareholders nov 12 state court houston prevent merger happening petition alleges enron directors breached fiduciary duties enron shareholders agreeing sell enron inadequate consideration without adequate investigation alternatives available enron enron said would vigorously defend monday filing included numerous changes previously reported numbers revenues expenses original third quarter statement company reported loss 618 million stated loss increased 635 million last week latest filing loss quarter ended sept 30 widened 664 million enron added numbers contained latest filing necessarily final external auditor arthur andersen completed review internal audit committee finished reviewing firm accounting practices copyright c 2001 dow jones company inc rights reserved copyright 2000 dow jones company inc rights reserved enron files 10 q 3 q sec 11 19 2001 dow jones news service copyright c 2001 dow jones dow jones newswires 201 938 5400 copyright 2000 dow jones provided however members news media may redistribute limited portions less 250 words material without specific license cnn long provide conspicuous attribution cnn originator copyright holder material legal transcript purposes litigation copyright 2000 dow jones company inc rights reserved enron reduces earnings warns 690 mln payment due update 2 2001 11 19 22 03 new york enron reduces earnings warns 690 mln payment due update 2 adds first paragraph note payment may come next week houston nov 19 bloomberg enron corp agreed takeover dynegy inc financial crisis threatened bankruptcy revised third quarter earnings second time month said may make early payment 690 million note next week houston based company lowered results 3 cents share bringing third quarter loss 87 cents 664 million according securities exchange commission filing liabilities affiliated partnership may reduce fourth quarter earnings 700 million taxes enron said disclosures indicate enron much worse shape nov 8 said john olson energy analyst sanders morris harris enron lowered earnings back 1997 586 million reflecting losses affiliated partnerships wrongly kept books think anyone would particularly surprised adjust third quarter earnings considering restated earnings last four years said olson shares dynegy enron think problem making good debt owed whitewing partnership may cut enron fourth quarter earnings enron obligated back whitewing issuing junior convertible preferred stock enron stock plunged may write assets 700 million filing said partnership problems enron said dynegy buyout could collapse enron forced pay judgments 2 billion settle lawsuits dealings affiliated partnerships dynegy said cancel transaction enron litigation costs liabilities grow 3 5 billion enron faces least 23 lawsuits enron used affiliated partnerships raise money quickly take debt books shares plunged 89 percent 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 company wrote 1 01 billion investments water telecommunications retail energy sales third quarter 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 brazilian liability without repayment collateral investors partnership owns brazilian natural gas assets begin liquidate partnership assets enron said enron said working lenders come acceptable agreement debt talk lenders refinancing possibility note would due next week said karen denne enron spokeswoman friday company 1 3 billion cash hand expects close 450 million additional financing tomorrow complete 800 million asset sales end year also trying find investors put 500 million 1 billion company company raised cash recent weeks using pipelines collateral received 1 5 billion chevrontexaco last week part dynegy buyout agreement return dynegy acquired preferred stock rights enron unit owns northern natural gas pipeline dynegy acquire pipeline even merger falls enron closed 550 million loan j p morgan chase co salomon smith barney inc wednesday secured assets enron transwestern pipeline co expects close another 450 million loan secured northern natural gas assets week denne said commitment loans announced nov 1 3 9 billion liability company also huge liabilities could push financial crisis merger closes drop debt rating would put investment grade would trigger repayment 3 9 billion debt owed two affiliated companies enron said rating drop would force repay 2 4 billion debt owed osprey trust 915 million debt taken marlin water trust company said filing arthur andersen llp enron auditor grant final approval financial statements filing internal investigation dealings affiliated partnerships enron said sec also investigating partnerships run enron executives filing released stock market closed shares enron rose 6 cents 9 06 dynegy rose 1 13 43 60 chevrontexaco corp owns 26 percent dynegy providing 2 5 billion cash part enron buyout fell 54 cents 82 91 chevrontexaco sees investor suits threat enron updatel 2001 11 19 19 53 new york chevrontexaco sees investor suits threat enron updatel updates enron reducing third quarter results last paragraph new york nov 19 bloomberg enron corp exposure investor lawsuits biggest hurdle proposed buyout dynegy inc said david reilly chief executive officer chevrontexaco inc helping back dynegy purchase chevrontexaco paying particular attention litigation risk though still think good deal dynegy even better deal chevrontexaco reilly said analyst meeting new york chevrontexaco second biggest u oil company owns 27 percent dynegy agreed provide dynegy 2 5 billion part enron purchase dynegy cancel bid enron legal liabilities including investor suits exceed 3 5 billion enron said today regulatory filing calculate cost shareholder suits dynegy agreed 10 days ago buy rival enron largest energy trader stock debt valued 20 7 billion enron stock plunged recent weeks concerns using affiliated partnerships mask losses hide debt gold bennett cera sidner llp filed class action suit houston today alleging enron misrepresented business results investors filed similar suits chevrontexaco clearer picture legal risks next months reilly said transaction risk free said shares enron rose 6 cents 9 06 today tumbled 89 percent year dynegy gained 1 13 43 60 stock declined 22 percent year companies based houston chenvrontexaco based san francisco fell 54 cents 82 91 earlier month enron reduced earnings past four years 552 million accounting errors involving affiliates enron ousted chief financial officer fired treasurer company attorney making improper investments one affiliates enron reduced third quarter earnings second time said may make early payment 690 million note month according filing u securities exchange commission enron says may pay 690 mln note next week 2001 11 19 18 16 new york enron says may pay 690 mln note next week houston nov 19 bloomberg enron said drop credit rating may force pay 690 million note nov 27 find collateral guarantee debt repayment triggered nov 12 downgrade enron senior unsecured debt rating bbb standard poor company said securities filing enron must post collateral equal amount note repay securities exchange commission filing said without repayment partners limited partnership owns natural gas assets brazil immediately begin liquidate partnership assets enron said enron said working lenders come acceptable agreement debt drop debt rating would put investment grade would trigger repayment 3 9 billion debt owed two affiliated companies rating drop would trigger repayment 2 4 billion debt owed osprey trust 915 million owed marlin water trust company said filing enron bought dynegy inc 25 billion stock debt enron also said filing shareholder lawsuits result judgments totaling 2 billion dynegy deal could collapse filing released stock market closed shares houston based enron rose 6 cents 9 06 dynegy shares rose 1 13 43 60 shares chevrontexaco corp owns 26 percent dynegy fell 54 cents 82 91 enron azurix may sell assets borrow 2001 11 19 14 35 new york enron azurix may sell assets borrow houston nov 19 bloomberg azurix corp enron corp water unit may sell assets find financing continue operations company said regulatory filing enron took azurix public june 1999 water company stock plunged took private paid investors march azurix sure able renew refinance 113 3 million long term debt including bank loans matures sept 30 reasonable cost said filing u securities exchange commission company also 326 3 million short term debt sept 30 loans azurix primary sources liquidity filing said company raise funds might use proceeds planned asset sales refinance debt get cash filing said asset sales generate enough money azurix may need sell assets could result azurix incurring losses future periods company said azurix though still must file sec longer trades separate stock shares houston based enron fell 8 cents 8 92 early afternoon trading enron agreed earlier month acquired rival dynegy inc transaction currently valued 24 9 billion buyout came enron shares plunged amid sec investigation company dealings affiliated partnerships u dingell seeks probe arthur andersen dow jones says 2001 11 19 15 24 new york washington nov 19 bloomberg u representative john dingell michigan democrat requested special investigation arthur andersen llp audits enron corp waste management inc dow jones newswires reported dingell sent letter public oversight board chairman charles bowsher asking review newswire said andersen world fifth largest accounting firm served enron outside auditor decade assuring investors company financial statements conformed generally accepted accounting principles earlier month company reported overstated earnings 586 million four half years inflated shareholder equity 1 2 billion accounting error failed consolidate results three affiliated partnerships balance sheet june andersen reached 7 million settlement securities exchange commission neither admitted denied allegations fraud related audit waste management inc andersen undergoing peer review deloitte touche dow jones said enron restates q 3 results cbs marketwatch com leticia williams 8 35 pm et nov 19 2001 washington cbs mw embattled enron corp restated third quarter earnings monday increasing loss period 3 cents share 87 cents according sec filing houston based enron ene purchased rival dynegy escape recent spate problems shattered wall street confidence also increased nine month earnings penny 20 cents share dynegy dyn purchasing company 7 8 billion stock enron must also pay refinance 690 million debt obligations nov 26 risk triggering nearly 4 billion additional payments according sec filing company make payment date investors right immediately begin liquidate assets certain limited partnership amount equal note payable addition enron may sell limited partnership assets amounts carrying values net proceeds sale assets used repay enron obligation according company 10 q filed monday securities exchange commission enron talks lenders develop mutually acceptable amendment waiver avoid issue payment 690 million note company fails make payment credit rating falls investment grade forced pay refinance additional 3 9 billion company said standard poor currently company rated bbb notch speculative grade fitch rates company credit bbb evolving moody investor services rates company baa 3 review ratings apply senior unsecured debt corporation note trigger would force company repay refinance cash collaterize certain facilities amount 3 9 billion primarily consists 2 4 billion osprey trust 915 million marlin water trust enron said filing company ene shares gained 6 cents close 9 06 company officials immediately reply questions would raise money since effectively barred capital markets