enron mentions ken lay cards table fortune magazine 11 12 01 editor desk fortune magazine 11 12 01 e c opens investigation enron new york times 11 01 01 enron partnerships led fastow face formal sec investigation wall street journal 11 01 01 broadband trading prospects narrow fast wall street journal 11 01 01 bell microsoft possible antitrust deal dow jones commodities service 11 01 01 companies nov 1 2001 commodities nov 1 2001 world stock markets wall st falters modest morning revival financial times nov 1 2001 went wrong enron houston chronicle nov 1 2001 formal upgrade enron investigation gives subpoena power sec houston chronicle nov 1 2001 enron discloses sec probe washington post 11 01 01 enron corp cut near term neutral merrill bloomberg 11 01 01 sec opens formal investigation enron company says associated press newswires 10 31 01 sec probe dealings official enron says chicago tribune 11 01 01 exchanges add otc products option enron oil daily 11 01 01 india bank meeting enron indian unit postponed source reuters english news service 11 01 01 bg extends talks ongc reliance gas fields updatel bloomberg 11 01 01 indian financial institutions fail resolve dabhol power issue asia pulse 11 01 01 indian lenders enron officials discuss dabhol crisis business standard 11 01 01 us utilities slow make life harder enron dow jones news service 10 31 01 enron says sec inquiry formal investigation update 4 bloomberg 10 31 01 smartmoney com data mine come sales away dow jones news service 10 31 01 usa enron trusts may prove troublesome ratings cut reuters english news service 10 31 01 usa update 3 enron says sec inquiry full scale probe reuters english news service 10 31 01 usa funds still shying away former darling enron reuters english news service 10 31 01 first enron ken lay cards table bethany mclean 11 12 2001 fortune magazine time inc 37 copyright 2001 want make sure restore credibility said enron ceo ken lay august company stock fallen 80 36 since january shocking resignation handpicked successor jeff skilling growing complaints company incomprehensible financial statements today mounting evidence lay senior statesman helped create enron mid 80 may part solution past two months enron stock sunk another 60 16 amid concern company murky disclosure may sign deeper business problems conference call lay held oct 23 ostensibly reassure skittish investors widely regarded disaster enron wiggled squirmed gave bunch nonanswers one listener puts even formerly docile sell side analysts turning hostile call prudential carol coale downgraded enron sell things know things potentially know enron stock began plunge mid october company announced third quarter results always enron made earnings number gigantic 1 01 billion charge due slew investments gone sour worse enron less front additional 1 2 billion reduction shareholders equity caused early termination controversial outside investment partnerships run former enron cfo andy fastow lay reassured investors enron credit rating intact made mention moody call put enron debt review possible downgrade enron acknowledges critical company debt rated investment grade given requirements huge trading operations enron debt currently rated several notches investment grade end second quarter company 12 billion debt unhealthy debt capitalization ratio 46 recent figures yet available enron release balance sheet earnings results concern enron ability meet near term liquidity needs stock sank enron announced sec inquiring fastow run partnerships variety bewildering deals enron raising questions possible conflicts interest lay contends partnerships named ljm ljm 2 fastow children says one analyst done merely mitigate volatility called chinese wall meaning enron partnerships run two separate businesses protected enron shareholders insisted extraordinary line one copy ljm 2 marketing material enron board directors waived code conduct fastow activities relative ljm 2 enron says claims absolutely responsibility may represented independent company lay assertion chinese wall well chinese wall within fastow brain oct 24 enron announced fall guy fastow would take leave absence least partnerships demonstrate horrific judgment people fastow enron board example gave okay one document shows ben glisan enron treasurer also partnership investment team enron says document draft perhaps biggest concern true profitability enron core business energy trading operation heart enron story stuff captivated wall street company transformation stodgy gas pipeline technology phenomenon could make market anything electricity broadband impossible know enron used partnerships balance sheet vehicles influence reported earnings enron also mingles profits asset sales trading income despite pledges recent quarter company provided less disclosure front addition questions aggressively enron books trading related revenue fact knowledgeable source competitor says enron recognizes revenues two five times rate company energy trading really fabulous business enron need play many games ken lay thought jack welch league accomplished truly remarkable feat destroying much left enron credibility short months along observers suspect problem lay avoiding questions know answers either case lay long way keeping promises quote despite promises ceo ken lay enron financial disclosure still far sufficient color photo copyright 2000 dow jones company inc rights reserved editor desk rik kirkland managing editor 11 12 2001 fortune magazine time inc 5 copyright 2001 chitlin strut crank salley c talking beauty pageant fireworks 10 000 pounds fried pig intestines right plenty great stuff going november learn checking new fortune business calendar front current fortune advisor written reporter grainger david wittiest delightful monthly guide anywhere trust miss otherwise colleagues know comdex starts connects cisco guy fawkes day date next beaver moon usual chitlin struttin clueless uninformed self combine intelligence ferocious accuracy research scientist voice lyric poet get david stipp david keeps fortune cutting edge medicine genomics host technologies boomer fretting growing inability recall old friends names much less date battle hastings heartened david story drive develop pill help remember second piece issue coming hydrogen economy david shows improved wind power fuel cells innovations reducing america reliance hydrocarbons faster us realized makes wonder political leaders already debating help accelerate welcome shift eventually free us dependence middle eastern oil advice send david report representatives president may call year march 5 issue senior writer bethany mclean asked enron overpriced yes argued especially exercised enron opaque accounting dubious rationalizations sky high multiple stock 75 13 18 analysts rated buy company vigorously objected bethany piece still telling wall street valued 126 share eight months later enron trading around 15 opaque accounting big part problem see first bethany latest take ex highflier guy telling would steal punch line senior writer jerry useem marvelous essay leadership takes jerry story cover merely challenge running company group people crisis since sept 11 become topic business folks really good reading could lower odds end like sad little bearded dude b w photo joanne chan b w photo richard e schultz color photo jane huntington b w photo brown brothers copyright 2000 dow jones section c e c opens investigation enron alex berenson 11 01 2001 new york times page 4 column 6 c 2001 new york times company securities exchange commission opened formal investigation transactions among enron corporation partnerships headed andrew fastow company former chief financial officer enron said yesterday commission move comes enron struggles reassure investors partners profits real cash position strong shares enron world largest trader electricity natural gas plunged 83 percent year investors question company complex opaque accounting shares enron rose 2 74 yesterday 13 90 ending 10 day string losses addition enron board said yesterday appointed special committee examine transactions panel headed william powers jr dean university texas law school elected enron board yesterday committee hired william r mclucas former head division enforcement e c counsel partner law firm wilmer cutler pickering washington enron disclosed 10 days ago commission opened informal inquiry transactions mr fastow formal investigation significantly increases pressure company john heine spokesman commission said could comment e c investigation enron speaking generally mr heine said opening formal inquiry enabled commission subpoena documents used e c staff members thought companies executives responding voluntarily questions staff members run situations feel need information look sources information cooperative staff go commission recommend commission issue formal order investigation authorizing staff issue subpoenas mr heine said disclosed commission informal inquiry oct 22 enron promised cooperate fully e c welcome request kenneth l lay enron chairman said spokesman enron return calls yesterday enron began year apparently unstoppable growth streak company suffered one setback another company efforts become profit making water supplier create new market broadband communications capacity expensive failures august jeffrey k skilling resigned chief executive forcing mr lay predecessor resume day day control enron problems came head mid october disclosed shareholders equity measure company value dropped 1 2 billion third quarter deal partnerships led mr fastow complex accounting rules write apparent enron quarterly earnings report news write disturbed investors suggested enron might found way hide losses throwing accuracy financial statements question last week company ousted mr fastow struggling explain transactions shareholders bond rating agencies amid rumors company might face cash squeeze enron used 3 3 billion line credit last week seeking additional financing still energy companies shying away making trades enron take weeks close copyright 2000 dow jones company inc rights reserved enron partnerships led fastow face formal sec investigation john r emshwiller rebecca smith staff reporters wall street journal 11 01 2001 wall street journal 4 copyright c 2001 dow jones company inc securities exchange commission elevated formal investigation inquiry enron corp financial dealings partnerships headed former chief financial officer andrew fastow enron disclosed sec action late yesterday matter policy sec comment investigating formal investigation involves sec enforcement branch going five member commission obtaining formal subpoena power pursue inquiry person familiar sec probe said agency felt needed subpoena power compel release information parties done business enron enron last week disclosed sec contacted company part described informal inquiry fastow related partnerships time enron said welcomed inquiry would cooperate fully sec position company restated repeatedly since formal order investigation indicate sec decided wrongdoing sign decision pursue investigation said former sec enforcement attorney jacob frenkel clearly one level informal inquiry said part efforts deal overall situation enron also announced appointment university texas law school dean william powers board mr powers head four member board committee look fastow related transactions matters former sec enforcement chief william mclucas washington c law firm wilmer cutler paulo ferraz pereira executive vice president brazilian owned investment bank group bozano herbert winokur jr chairman chief executive capricorn holdings inc enron chairman chief executive kenneth lay asked committee take fresh look transactions take appropriate action company spokeswoman said enron consistently said dealings fastow connected partnerships legal properly disclosed investors according enron filings sec company deals involving billions dollars assets enron stock entities related fastow partnerships internal partnership documents indicate mr fastow possibly others made millions dollars partnerships mr fastow replaced chief financial officer last week consistently declined interviewed news sec investigation came end lately rare day enron stock market plummeting 10 straight trading sessions enron shares rose nearly 25 4 p new york stock exchange composite trading enron rose 2 74 13 90 share big board active issue 43 8 million shares changing hands little two weeks ago enron shares 33 year ago around 85 analysts observers said rebound partly due bargain hunting well continued speculation possible takeover bid houston based enron given current severely depressed stock price starting two weeks ago enron suffered sharp loss investor confidence following big third quarter write downs partly related fastow partnerships disclosure sec inquiry enron officials argue investors overreacting say company fundamentally sound promised forthcoming company extremely complex finances investors need know company potential liabilities said g edwards analyst michael heim know worst case scenario hard move forward said improve liquidity enron nearing completion new bank credit line roughly 1 billion secured gas pipeline assets say people familiar matter new line would supplement existing credit facilities largely used last week enron drew 3 billion help weather current crisis jathon sapsford michael schroeder contributed article copyright 2000 dow jones company inc rights reserved broadband trading prospects narrow fast elliot spagat staff reporter wall street journal 11 01 2001 wall street journal cl copyright c 2001 dow jones company inc create market come last year companies led enron corp envisioned fast growing profitable new market trading broadband capacity demand burgeoned fiber optic lines carry internet data offices homes figured people little much capacity would eager trade much like soybeans oil electricity instead bustling market pretty much bust far anyway plummeting broadband prices dearth creditworthy customers enron financial woes stalled nascent market costs adding enron broadband unit instance 80 million operating loss third quarter revenue 4 million revenue 162 million year earlier company also recorded 180 million third quarter charge restructure broadband unit included cutting 400 500 jobs losses sale inventory plans close offices london singapore enron handled 405 trades third quarter 759 second quarter currently broadband market contracts buy sell capacity fiber optic networks traded brokers telephone rather floor physical exchange records fewer two dozen trades day many transactions take place energy companies rather users suppliers less enron others creating new market including dynegy corp el paso corp expected characteristic bravado saw telecommunications many factors drew gas electricity newly deregulated market plenty inefficiency seemed insatiable demand fiber optic lines carry internet data example big corporation needed quickly expand internal intranet service send traffic among various offices around u could effect buy capacity new market making hundreds millions dollars trading natural gas electricity companies confident could outmaneuver giant telecom carriers never welcomed telecom companies wanted control capacity rather see become tradable commodity worked well us gas worked well us power said stephen bergstrom dynegy president chief operating officer lot differences also lot similarities energy companies nearly based houston saw telecom industry slow secretive telecom carriers typically spend six nine months arranging multiyear deals exchange network capacity serve major business customers contracts disclosed publicly often involve custom work could charge premium prices service turns unreliable buyer little recourse trading broadband capacity enron mid 1999 saw chance offer telecom customers prices easy understand compare would based standard contracts instant delivery penalties would assessed service faltered contracts could change hands frequently last little much time customers wanted enron figured time fiber lines could treated like kilowatt hours electricity enron kind made happen energy players look like followers noted martin gray vice president trading risk management london cable wireless plc one telecom companies take serious interest bandwidth trading back efforts enron erected 18 000 mile fiber network offering connections blazing speed built 25 delivery points companies exchange bandwidth also relentlessly prodded carriers large businesses rethink rules telecom carriers never warmed bandwidth trading houston bad word mind said jack blunt senior vice president finance ratexchange corp san francisco based bandwidth broker also operates small electronic broadband trading exchange energy merchants perceived cutting business trying create commodities market efforts create hubs points service could delivered stumbled traders balked much information would share used enron sites meanwhile bandwidth prices falling sharply part telecom companies overbuilt fiber optic networks part demand growing grow quickly expected result customers reluctant buy contracts fiber optic capacity would lock prices might much higher rates could get months later time upstart phone companies internet service providers among biggest potential clients excess capacity traded broadband market running serious problems reducing number creditworthy customers el paso initially planned invest 2 billion telecom business months ago cut projected investment 1 5 billion last week company said would cut back radically limit focus existing network texas delivery hub chicago clear line sight success become opaque said william wise chief executive houston based company dynegy operates 16 000 mile fiber optic network connecting 44 u cities reported relatively moderate 15 million third quarter loss telecom business big first mover said mr bergstrom second mover gas second mover power second mover telecom still houston crowd giving market enron spokeswoman said company remains committed telecom reviewing costs company remains chief cheerleader trying develop hubs set standards dynegy comfortable current position spokeswoman said chuck watson chief executive said demand picked sharply since sept 12 companies conducted business phone expects demand grow substantially next year executives several companies acknowledge may take months years create active trading market enron retreats biggest winners would giant telecom carriers considered enron threat decades old ways business analysts say eyes enron said seth libby analyst yankee group research firm boston came market catalyst still catalyst create bandwidth commodity copyright 2000 dow jones company inc rights reserved bell microsoft possible antitrust deal shaheen pasha dow jones newswires 11 01 2001 dow jones commodities service copyright c 2001 dow jones 201 938 2312 shaheen pasha dowjones com copyright 2000 dow jones company inc rights reserved companies nov 1 2001 julie earle matthew jones sheila mcnulty enron share price hovering around low year question whether right time buy us biggest energy trader asked small time investors also potential acquirers market close tuesday enron stock 67 per cent october 16 company disclosed surprise dollars 1 2 bn charge shareholders equity provoked crisis confidence company selling hacked dollars 17 bn enron market value two weeks situation one enron likely survive hard analyse information yet says john olson vice president research sanders morris harris investment banking firm stock crunched badly people high appetite risk buy goes acquirers well analysts say sec conducting unofficial enquiry enron financial dealings andrew fastow enron chief financial officer replaced shareholders subsequently filed series lawsuits enron one main rating agencies downgraded enron long term debt two reviewing potential downgrade outstanding issues include much enron get dollars 4 5 bn asset sales planning including dabhol power project india enron foreign partners want retrieve dollars lbn costs spent building defunct plant analysts warn may losses come company poorly performing broadband division enron warned sees immediate prospect recovery despite recent comments dynegy rival broadband market improving worries enron may take extra charges balance sheet vehicles kenneth lay chief executive said company watching closely operations india broadband california enron one several energy traders facing questions accusations manipulation power prices denies enron impaired assets would announced added potential risks make likely analysts say acquirers would rather buy one enron business units whole business mr olson says enron trading outsourcing pipeline businesses good growth businesses trading business growing 31 per cent year making 23 per cent return equity says energy outsourcing growing 50 per cent year roe 62 per cent roe pipelines growth 7 8 per cent year 24 per cent midday yesterday enron shares trading dollars 12 64 13 26 per cent valuations compelling says andre meade commerzbank securities enron number one marketer natural gas power north america mr meade says enron best platform get two big businesses banking sources london say royal dutch shell bp considered buying enron backed concerns culture clash level enron debts banks approached enel italian power utility acquiring enron understood rejected idea eon german utility group also named potential european buyer analysts say regulatory hurdles may high still process gaining approvals purchase powergen uk electricity group interests us price number large utilities oil groups looking enron business imploding quickly real risk says one banker additional reporting fred kapner executives campaign round rating agencies executives enron embattled energy trading company visiting new york rating agencies yesterday part campaign defend company investment grade rating write sheila mcnulty houston robert clow new york team led greg whaley enron president chief operating officer meet separately moody investors service standard poor fitch moody week downgraded long term debt citing deterioration enron financial flexibility past two weeks time company launching charm offensive putting finishing touches financing deal enron said weekend searching sources liquidity bolster financial position spite troubles enron energy trading business continued thrive might longer case company downgraded investment grade enron trading counterparties might increase amount collateral demand enron putting pressure margins concern reduction debt rating could impair ability operate trading marketing operations said raymond niles salomon smith barney even moody downgrade enron long term debt still rated notches junk rating agencies fitch however put enron review possible downgrade standard poor changed enron credit outlook negative stable copyright financial times limited commodities nov 1 2001 mary chung us department energy said yesterday would take closely watched weekly survey natural gas industry trade group publishing data past seven years report picked energy information administration eia department statistical division american gas association aga represents us natural gas producers utilities said would discontinue publication gas storage estimates end year spencer abraham us energy secretary said statement believe important department energy continue reporting responsibility vital resource aga decision stop providing data follows allegations manipulation traders natural gas market revisions survey flap revisions numbers cause us examine whole storage survey process said daphne magnuson aga spokesperson weekly data used many trading community buy sell natural gas futures contracts advance knowledge storage volume revisions give participants unfair trading advantage several complaints filed traders commodity futures trading commission us regulatory agency discrepancies survey data cftc spokesperson said commission acknowledged exchange information aga still review would neither confirm deny existence investigation natural gas market dollars 90 bn year industry representing 189 producers local utilities including duke energy enron el paso copyright financial times limited world stock markets wall st falters modest morning revival financial times nov 1 2001 mary chung us equities ended mixed yesterday technology stocks edged higher blue chips lost momentum investors digested better expected third quarter gross domestic products data dow jones industrial average closed 46 84 9 075 14 early rally evaporated p 500 index dipped 0 01 1 059 78 nasdaq composite rose 22 79 1 690 20 two sessions heavy losses investors breathed sigh relief gdp figures showing us economy shrunk first time eight years quarter edging closer recession nearly bad wall street expected leading dow lower eastman kodak 8 per cent dollars 25 57 moody investors service downgraded company long term rating dow components including microsoft ibm reversed early gains lost 1 2 per cent 0 5 per cent respectively intel world biggest chipmaker however rose 3 7 per cent dollars 24 42 following positive comments company long term growth sun microsystems led nasdaq volume 6 4 per cent dollars 10 15 company said orders tracking higher time last year juniper slipped 3 per cent dollars 22 29 still suffering downgrade merrill lynch cisco system gained 2 per cent dollars 16 92 dell gained 3 per cent dollars 23 98 company said target meet third quarter revenue estimates qwest communications however fell 19 per cent dollars 12 95 reporting quarterly earnings failed match expectations nextcard biggest decliner nasdaq 84 per cent 87 cents online credit card provider management said looking sell company larger financial institution adobe systems dropped 8 per cent dollars 26 40 maker desktop publishing software warned weaker fourth quarter results said would cut 5 per cent workforce enron embattled energy trading company rebounded 24 5 per cent dollars 13 90 bright spots included retail sector dow components wal mart home depot gained 1 6 per cent 1 7 per cent respectively toronto ended higher led gains technology bank oil gas stocks us economy contracted less expected p 300 composite index rose 60 29 6 885 70 nortel networks closed 9 cents cdollars 9 25 celestica gained cdollars 2 90 cdollars 54 90 research motion fell 16 cents cdollars 25 94 aerospace manufacturer bombardier ended days losses 16 cents gain cdollars 10 20 copyright financial times limited nov 1 2001 12 06 houston chronicle went wrong enron since stock hit zenith january company downward spiral laura goldberg michael davis copyright 2001 houston chronicle enron corp long long way back late january houston biggest company flying high jeff skilling played central role transforming enron pipeline company trader everything electricity paper weather days away taking ken lay chief executive officer stock acquired high tech gloss world largest energy trader moved aggressively broadband business hoped profit buying selling space high speed data wires today snapshot could scarcely different enron shares hit closing high year 82 late january trending downward since mid february hit nine year closing low tuesday 11 16 skilling gone enron credibility wall street shambles broadband unit significantly scaled back speculation company could takeover target securities exchange commission digging business deals enron investment partnerships formerly run ousted chief financial officer enron last week disclosed sec begun informal inquiry affairs said wednesday formal investigation financial hits enron revealed earlier month related investment partnerships known ljm cayman ljm 2 co investment quickly triggered expanding round unanswered questions enron balance sheet overall financial stability sharp decline stock price followed investors analysts irked believe enron explain complicated affairs painting worst case scenarios enron move calm investor fears could become self fulfilling prophecy jeff dietert analyst simmons could sold pieces bankruptcy candidate analysts believe bankruptcy unlikely enron may make attractive acquisition target buyout offer unlikely sec inquiry resolved said shares enron closed 2 74 13 90 wednesday likely takeover speculation trading cheap price another possible outcome said anatol feygin analyst j p morgan securities new york would another large player taking minority stake strategic investment enron providing liquidity shore balance sheet moment wall street inclined give lay time fix problems time goes crisis likelihood ken lay emerging unscathed gets lower lower said feygin nov 1 2001 houston chronicle formal upgrade enron investigation gives subpoena power sec tom fowler copyright 2001 houston chronicle federal regulators upgraded inquiry questionable financial transactions enron corp formal investigation giving officials power subpoena witnesses documents enron disclosed move securities exchange commission late wednesday saying involved balance sheet financing partnerships company criticized recent weeks primary difference informal inquiry sec started week ago formal investigation power gives regulators force companies submit information changing inquiry investigation relatively easy regulators legal sources say officials simply ask five member commission subpoena powers request rarely turned sec comment investigations matter policy immediately clear extra steps taken enron officials say cooperated fully sec since investigation likely covers transactions involving companies enron possible subpoenas may needed gain information entities request sec failed comply enron spokeswoman karen denne said cooperated voluntarily beginning enron board directors also formed special committee investigate transactions earlier week wednesday named william powers dean university texas school law austin board directors lead special committee committee serve primary contact company sec concurrently make detailed investigation needed committee power take disciplinary action enron employee officer director determines improperly participated transactions denne said powers career academic known studies product liability joined committee board members frank savage chief executive savage holdings paulo ferraz pereira executive vice president brazilian owned investment bank group bozano herbert winokur jr chairman chief executive capricorn holdings committee named william mclucas former director sec division enforcement group investigating enron counsel mclucas washington based law firm wilmer cutler pickering retained deloitte touche provide independent accounting advice sec inquiry began shortly oct 16 steep losses enron third quarter earnings drew renewed attention pair investment partnerships created chief financial officer andrew fastow partnerships referred form balance sheet financing formed using enron equity outside capital way hedge risks involved company new lines business internet broadband trading fastow dual roles enron cfo managing director entities cause concern wall street pressured fastow cut ties outside partnerships june company said careful ensure interests enron shareholders protected partnerships accounted significant losses enron 1 2 billion loss equity value analysts began demand details last week company replaced fastow began providing details finances order maintain investor client confidence company declined give information partnerships however ongoing sec investigation enron tapped 3 3 billion line revolving credit last week putting 1 1 billion bank ensure cash hand using balance repurchase short term debtinstruments company expected announce today friday lined another 1 billion 2 billion credit banks financial enron discloses sec probe 11 01 2001 washington post final eo 2 copyright 2001 washington post co rights reserved enron said securities exchange commission opened formal investigation apparent conflicts interest dealings company partnerships led company former chief financial officer company also said created special committee headed university texas law school dean william powers respond investigation committee hired counsel william r mclucas former sec enforcement chief partner law firm wilmer cutler pickering http www washingtonpost com copyright 2000 dow jones company inc rights reserved enron corp cut near term neutral merrill 2001 11 01 07 43 new york princeton new jersey nov 1 bloomberg data enron corp ene us downgraded near term neutral near term accumulate analyst donato j eassey merrill lynch long term rating cut neutral buy michael donohue princeton new jersey 1 609 279 3756 sec opens formal investigation enron company says juan lozano associated press writer 11 01 2001 associated press newswires copyright 2001 associated press rights reserved houston ap financial roller coaster ride enron corp gaining speed dropping nine year low day shares nation largest natural gas power marketer rose 25 percent wednesday close 13 90 amid speculation houston based company strong takeover candidate shares fell 5 percent extended trading company announcement securities exchange commission opened formal investigation apparent conflicts interest dealings company partnerships led former chief financial officer andrew fastow company news release late wednesday said created special committee headed university texas law school dean william powers respond investigation powers also elected enron board directors asked board take action address fully forthrightly investors questions concerns said enron chairman chief executive kenneth l lay also make every appropriate public disclosure course sec investigation however duane grubert analyst sanford c bernstein co new york said enron still much restore investor confidence stock values low got two camps investors guys hate enron guys want cautiously attracted enron grubert said lead trading range irrationally low shares oversold something company wants enron stock 60 percent since company reported 638 million third quarter loss two weeks ago dragged one time charge 1 01 billion attributed various losses losses tied partnerships managed fastow ousted last week earlier week moody investors service downgraded company long term debt warned possible downgrades since reporting disappointing third quarter losses enron negotiating banks establish new credit lines carol coale analyst prudential securities inc houston said wednesday stock price surge two weeks selling likely reaction wall street journal report rumors possible takeover enron others may buying figuring stock hit bottom said tuesday enron stock closed 11 16 lowest level since 1992 potential buyers include general electric ge capital unit warren buffett berkshire hathaway royal dutch shell journal said grubert said shell small presence energy marketing would good fit buy established franchise must attractive shell said special committee enron formed retained william r mclucas partner law firm wilmer cutler pickering counsel mclucas former head division enforcement sec enron stock price made attractive coale said energy marketer problems present substantial drawback would fault company acquiring enron hanging said many uncertainties net http www enron com ap photo xnyr 310 oct 29 copyright 2000 dow jones n 3 copyright 2001 chicago tribune enron corp sign mounting legal problems said wednesday informal inquiry securities exchange commission become full scale probe questionable financial dealings rocked company recent weeks sent stock plummeting nine year low nation largest energy trader scrambling head another shock damaged credibility said elected university texas law school dean william powers board directors would head internal inquiry transactions caused enron take 1 billion charge third quarter earnings name new chief financial officer company said oct 22 sec looking finances stressed agency requested information disclosure full blown formal investigation may indicate regulators like saw announcement came stock market closed wednesday shares enron jumped nearly 25 percent amid speculation company ripe takeover enron stock rose 2 74 13 90 end 10 day tailspin saw market value fall 17 billion investors dumping enron shares following disclosures company balance sheet transactions two limited partnerships run former cfo andrew fastow replaced last week concern possible conflicts interest arising deals company failure explain dropped stock levels levels seen since early 1990 caused downgrade credit status brought sec sec spokesman would comment matter copyright 2000 dow jones company inc rights reserved exchanges add otc products option enron 11 01 2001 oil daily c 2001 energy intelligence group rights reserved trading exchanges sides atlantic ocean added new clearing trading products services counter otc natural gas market us gas power markets uk though new york mercantile exchange nymex om london exchange owner operator uk power exchange said actions response market need exchanges clearly stepping fill role us energy trading giant enron handled otc customers enron liquidity problems stock price collapse prompted gas power buyers sellers seek alternative provider recent events natural gas market served reinforce necessity counterparty credit risk management accelerated exchange plans introduce full array risk management tools umbrella clearinghouse said nymex president j robert collins jr om london partner spectron group europe largest independent specialist energy broker physical otc gas power contracts provide clearing service uk customers first quarter 2002 companies also expect extend service include continental european power contracts near future nymex plan include introduction exchange futures swap efs transactions large order execution along previously announced electronic trading cleared natural gas swaps basis contracts efs transactions work similarly exchange futures physical transactions two parties allowed negotiate privately execution integrated counter swaps related futures transaction pricing terms agreed upon transaction must involve equal opposite sides market quantities futures swap exposures related commodities permitted two hours trading terminates underlying futures contract efs transactions permitted liquidate initiate transfer futures market positions two parties nymex said would introduce cleared henry hub natural gas swaps contract early next year part exchange clear otc cleared transactions efs mechanism enron news company executives wednesday continued negotiate new lines credit gas power trading giant looking another 1 billion 2 billion get liquidity crunch brought collapse market value industry sources told oil daily enron trying work debt equity swap least one major investor possibly general electric capital goal complete arrangement end week continuing speculation pending takeover bid rumors warren buffet berkshire hathaway super major royal dutch shell may interested level helped push company stock first time two weeks enron closed 12 xx 1 xx barbara shook ronan kavanagh c copyright 2001 oil daily co infomation call 800 999 2718 u 202 662 0700 outside u copyright 2000 dow jones company inc rights reserved india bank meeting enron indian unit postponed source 11 01 2001 reuters english news service c reuters limited 2001 bombay nov 1 reuters lenders indian power plant majority owned u energy giant enron corp postponed meeting discuss ways reviving 2 9 billion project banking source said thursday first phase controversial 2 184 mw plant india largest foreign direct investment completed work second phase abruptly stopped june following bitter dispute enron plant sole buyer loss making indian utility source said foreign banks could attend meeting planned weekend london new date yet fixed source indian lending institution added meeting lenders includes citibank c bank america corp also called consider two offers indian companies buy enron 65 percent stake indian subsidiary dabhol power co banker added lenders also examining investigation u securities exchange commission sec enron finances declined comment impact might selling enron stake dabhol bses ltd india largest private utility tata power ltd separately made offers buy enron stake dabhol shareholders general electric co u contractor bechtel 10 percent maharashtra state electricity board local utility odds dabhol owns remaining 15 percent maharashtra agreed 1995 buy plant entire output later said could dabhol power costly dabhol turn accused utility defaulting monthly payments served preliminary notice terminate power purchase contract covers terms sale enron largest u energy trader said wednesday informal enquiry sec become full scale investigation questionable financial dealings rocked company recent weeks copyright 2000 dow jones company inc rights reserved bg extends talks ongc reliance gas fields updatel 2001 11 01 04 25 new york bg extends talks ongc reliance gas fields updatel adds background deal second fifth seventh paragraphs analyst comment third enron financial status fourth london nov 1 bloomberg bg group plc said yet reach agreement reliance industries ltd ongc ltd natural gas ventures india accord central completing 388 million bid enron corp stake projects bg said offer enron 30 percent projects contingent winning right oversee developments reliance india biggest private company oct 10 said claimed right run projects ongc also sought become operator fields going take long time said jon rigby analyst bnp paribas bg deal worth pursuing indian companies determined take operatorship great deal bg enron world largest energy trader needs funds sale indian assets boost standing investors moody investors service tuesday placed rating commercial paper review downgrade lowered long term debt two notches junk status enron shares fell nine year low purchase enron assets would gave bg 30 percent stake tapti panna mukta oil gas fields well 63 percent untapped deposit west coast india fields hold 170 million barrels oil gas equivalent two days global oil demand continue discussions coming weeks make announcement due course bg group spokeswoman nicole mcmahon said interview without elaborating india gas production fell 11 percent 1997 1999 oil natural gas corp state explorer made significant discoveries 15 years insufficient supplies gas hurt growth country fertilizer chemicals industries hampered upgrading power plants still mostly coal fed government expects gas deficit triple next six years unless new wells drilled existing fields expand sales stuart wallace london newsroom 44 20 7673 2388 indian financial institutions fail resolve dabhol power issue 11 01 2001 asia pulse c copyright 2001 asia pulse pte ltd new delhi nov 1 asia pulse financial institutions led industrial development bank india idbi failed come solution long payment dispute united states energy company enron forced closing us 2 9 billion dabhol power project top officials idbi icici met officials finance power ministries today failed come optimum solution discussed enron discussions continuing examining various options idbi chairman p p vora told reporters meeting power secretary k basu said fis total exposure rs 62 billion project wanted come optimum solution declined give time frame earlier day vora met finance minister yashwant sinha apprise situation fis decided come solution oct 31 second phase 2 184 mw dabhol power company dpc settlement enron imbroglio played since early year assumes importance view prime minister atal bihari vajpayee forthcoming visit washington likely wide ranging discussions us president george bush enron biggest donor bush presidential electoral campaign far tata power bses ltd fray buying enron stake dpc although companies showed reluctance buy enron stake price spelled us power giant vora said two companies still fray pti 01 11 1900 copyright 2000 dow jones company inc rights reserved indian lenders enron officials discuss dabhol crisis economy bureau new delhi 11 01 2001 business standard 2 copyright c business standard negotiations full swing resolve dabhol tangle indian institutions led idbi today held hectic parleys top enron executives prospective buyers tata power bses ltd consultation senior power ministry officials officials told business standard idbi chairman p p vora power secretary k basu discussed proposal chalked indian lenders also held separate closed door meetings bses chairman managing director r v shahi tata power vice president amulya charan officials said certain key issues like purchase power states yet resolved added tata power bses conveyed unwillingness indian lenders negotiate state electricity boards sale electricity vora termed today meeting routine also met finance minister yashwant sinha later day k wade cline ceo dpc also present meeting today declined comment progress said negotiations underway looking various options said meanwhile sources said indian lenders negotiations tata power bses opinion value enron equity 799 million copyright 2000 dow jones company inc rights reserved us utilities slow make life harder enron anne brady dow jones newswires 10 31 2001 dow jones news service copyright c 2001 dow jones dow jones newswires 602 258 2003 anne brady dowjones com copyright 2000 dow jones company inc rights reserved enron says sec inquiry formal investigation update 4 2001 10 31 21 18 new york enron says sec inquiry formal investigation update 4 updates mclucas last paragraph houston oct 31 bloomberg enron corp largest energy trader said securities exchange commission opened formal investigation dealings partnerships run former chief financial officer company board appointed william powers jr dean university texas law school chair committee work sec investigation began informal inquiry last week powers also appointed enron board william mclucas former head sec enforcement division hired committee lawyer sec investigating partnerships run former cfo andrew fastow bought sold enron shares assets company shares plunged 49 percent october part chief executive officer kenneth lay said earlier month buying back 62 million shares fastow partnership cost enron shareholders 1 2 billion lost equity formation special committee reflection recognize something done said g edwards analyst mike heim rates enron hold owns shares enron suspect finances prevent borrowing commercial paper market large corporations go find low interest short term debt enron wants borrow 1 billion 2 billion loans citigroup inc j p morgan chase co banks calm investors wall street journal reported earlier week company still negotiating loans spokeswoman karen denne said tonight fired cfo sec began informal inquiry fort worth texas office last week moved commission washington headquarters yesterday seen formal order yet understanding issues subjects informal inquiry issues part formal investigation denne said sec regulators called enron yesterday say going start formal investigation denne said enron delayed announcing move powers confirmed would become chairman special committee said announcement came close stock trading today company share rose 2 74 25 percent 13 90 regular trading television reports company near getting new series bank loans company shares fell low 13 hours trading tonight authorized discipline special committee authority discipline directors employees denne said reviewing transactions like fastow partnerships lay removed fastow cfo put leave absence oct 24 day company said sec asking questions partnerships company likely charged wrongdoing sec formal investigation informal inquiry former sec enforcement director richard h walker said agency subpoena bank telephone corporate records well compel witnesses testify walker left sec august said swiftness sec upgraded formal investigation striking sends signal high priority said walker starts tomorrow legal counsel deutsche bank ag sec decision follows months investor demands enron provide clearer financial reporting lay promised information enron complex transactions earnings took jeff skilling resigned unexpectedly chief executive officer august seven months job failed investments lay promises investors analysts said caught guard enron reported third quarter loss 618 million writing 1 01 billion failed investments company 35 million losses dealings ljm cayman ljm 2 co investment two fastow run partnerships securing new bank loans became necessary credit rating companies said enron providing enough detail potential liabilities moody investors service downgraded enron long term debt week though kept company investment grade fitch enron watch possible downgrade standard poor lowered enron long term credit outlook negative falling investment grade would trigger agreements would force enron repay bonds sold affiliated companies ones created fastow enron estimated potential liability partnerships 3 billion lower credit rating also reduces amount cash enron raise back electricity natural gas commodities trading operations american electric power co exelon corp officials said lowered trading limits houston based company restricted commerce short term deals concluding november december books enron set fastow partnerships affiliated companies buy enron power plants assets selling partnerships issued bonds enron able get immediate cash rather wait outside buyer well move debt books affiliates generate enough money sale assets enron agreed make difference enron also must buy investors stock credit rating fall low three partnerships whitewing osprey marlin 3 3 billion debt plan repay selling power plants related assets mclucas partner law firm wilmer cutler pickering director sec division enforcement eight years oversaw 600 million fraud settlement former junk bond trader michael milken 1990 powers 55 became dean university texas school law austin last year american lawyer reported may 2000 powers friends texas politics included lieutenant governor rick perry became governor george w bush became president texas supreme court chief justice tom phillips russell hubbard princeton newsroom 609 750 4651 smartmoney com data mine come sales away christopher connor 10 31 2001 dow jones news service copyright c 2001 dow jones company inc smartmoney com hear lot importance reliable earnings numbers especially stock market rocky earnings always best gauge company performance business sagging companies tempted massage earnings per share numbers make look things better really usually cost cutting favorite technique certainly nothing wrong sometimes desperate companies shunt unpleasant items aside rubric special one time charges point murky pro forma results include major liabilities proof potential unreliability earnings numbers take look going enron ene days cases like vaunted price earnings ratio always best way evaluate stock sales hand rarely lie companies much tinkering revenue figures without raising eyebrows securities exchange commission top line earnings statement want straight scoop company performance revenues sometimes best place look mind turned price sales ratio week data mine basic premise simple stock trades say 0 5 times revenues cheaper stock trades 17 times revenues thus worthy attention also looked companies whose p ratios bottom half industry real undervalued gems usually reside make sure uncover total dogs insisted companies actually earnings dot coms need apply earnings grown past three years stock prices increased last year access recipe using new screening tool universe 7 498 stocks winnowed 38 texaco also appeared since recently merged chevron form chevrontexaco chv removed 10 electric natural gas utilities general outlook sector wobbly industrial demand wholesale power remains weak thanks slumping economy meaning prices continue slip recent highs companies screen reported third quarter earnings shown steady revenue growth solid earnings performance nasty economic slide utility smallest p ratio 0 3 wps resources wps serves customers wisconsin michigan reported third quarter earnings 76 cents share oct 18 beating street 14 cents notable utilities include sempra energy sre txu txu two huge energy providers sempra primarily southern california txu mainly texas analysts believe may benefit enron recent problems extended presence energy trading field enron pioneered could pick business u europe result information analysis companies mutual funds visit smartmoney com http www smartmoney com copyright 2000 dow jones company inc rights reserved usa enron trusts may prove troublesome ratings cut dan wilchins 10 31 2001 reuters english news service c reuters limited 2001 new york oct 31 reuters enron corp thought making right move 1998 started yanking billions dollars assets balance sheet transactions may come back haunt energy trading giant enron credit rating falls investment grade could forced sell stock paradoxically one likely reasons would downgraded long term inability sell stock form viable price would mean largest trader gas power north america could face severe cash crunch would least able meet crisis investors say near term outlook bleak recent plunge company share bond prices suggests default could occur enron credit worthiness cut junk bond grade enron reportedly securing roughly 1 2 billion credit facility potentially private equity investment recently chances downgraded soon look remote said industry analyst however enron gets downgraded could serious trouble stock bonds noted analyst potential avalanche new shares would come special financing vehicles company used beginning 1998 decided focus trading energy de emphasize businesses require heavy capital spending water utilities power plant development company took several billion dollars worth assets wanted take balance sheet shoved several share trust structures sold debt equity trusts called marlin water trust ii marlin water capital corp ii osprey trust osprey inc issued 3 4 billion notes intricate trust structures trusts assured rating agencies assets arm length rest company would drag rest enron underperformed said todd shipman lead ratings analyst credit standard poor intricate trust structures hard analysts understand investor perceptions enron less forthright complex dealings contributed plunge company securities securities exchange commission probe two enron partnerships former chief financial officer equity write also pushed securities lower marlin osprey trusts enron essentially set special companies held physical financial assets issued bonds backed assets sign difficulty understanding structure one analyst said enron threw preferred stock convertible 50 million shares common stock another analyst said stock 100 million shares structures also include 40 million shares convertible unregistered common stock proviso assure investors equity would sold certain doomsday scenarios came pass noteholders legitimate reason concerned getting paid back one bleak scenarios included enron shares plummeting company downgraded junk bond status least one rating agency enron shares rebounded wednesday 10 day slide lost 60 percent meeting stock plunge scenario shares closed 13 90 recouping lost ground past 10 days traded 33 84 junk bond bound scenarios seemed unlikely debt equity issued people thought notes would rolled assets trust would sold notes originally issued said jim mcauliffe fixed income analyst covering energy morgan stanley new york monday moody investors service cut enron senior unsecured rating two notches junk bond grade put review downgrade fitch said company rating watch negative standard poor enron notch higher negative outlook consider probability said p shipman happen enron would frozen equity financing form long term leaving able raise capital debt downgrade investment grade would require enron redeem notes short order said analyst familiar analysts disagreed whether convertible preferred stock would sold case agreed likely would sold structures anticipate scenario said industry analyst familiar structures addition possibility default notes enron core business energy trading marketing would likely hampered sub investment grade rating said shipman counterparties would cut credit lines demand collateral posted would likely demand favorable prices enron however appears sanguine trusts although spokesman company return calls story enron told wall street journal last week company believes repay principal notes without issue stock copyright 2000 dow jones company inc rights reserved usa update 3 enron says sec inquiry full scale probe 10 31 2001 reuters english news service c reuters limited 2001 adds powers details paragraph 11 minor changes throughout jeff franks houston oct 31 reuters enron corp swept deepening crisis said wednesday informal inquiry u securities exchange commission become full scale investigation questionable financial dealings rocked company recent weeks sent stock plummeting nation largest energy trader scrambling head another shock already shattered credibility elected university texas law school dean william powers board directors lead internal inquiry transactions caused enron take 1 billion charge third quarter earnings name new chief financial officer company said oct 22 sec looking finances stressed agency requested information disclosure full blown formal investigation may indicate regulators like saw announcement came stock market closed wednesday enron stock rose 2 74 13 90 end 10 day tailspin saw price drop nine year lows losing 17 billion market value analysts said bottom fishing investors along speculation talk enron may become takeover target boosted shares investors dumping enron shares following disclosures company balance sheet transactions two limited partnerships run former cfo andrew fastow replaced last week another enron executive jeff mcmahon concern possible conflicts interest arising deals company failure explain dropped stock levels seen since early 1990 caused downgrade credit status brought sec enron chairman chief executive officer ken lay said company trying shore credibility appointment powers launching internal inquiry asked board take action address fully forthrightly investors questions concerns said statement responding sec offers us additional opportunity achieve goal investors cooperate fully said company said committee led powers would include several enron directors work company would power examine take appropriate actions respect transactions enron entities connected related parties powers 1973 graduate harvard law school university texas law school austin since 1978 named dean may 2000 expert torts law written extensively products liability enron also said committee hired william mclucas former head sec division enforcement attorney firm wilmer cutler pickering retained deloitte touche provide independent accounting advice company said sec spokesman would comment aspect matter enron wall street darling touted analysts investors alike one world innovative firms year ago profits stock price soaring transformed regulated natural gas pipeline company high tech wonder creating new internet based markets assortment commodities setbacks broadband trading overseas investments california power crisis took shine enron star august financial world stunned chief executive jeff skilling resigned six months job saying wanted lifestyle change investors thought enron could wrong turned company complaining financial statements incomprehensible management unresponsive capper came two weeks ago enron said along 1 billion charge earnings also cut shareholder equity 1 2 billion curious transactions fastow led entities fastow denied wrongdoing unable say much sec probe growing number shareholder lawsuits enron assure financial world plenty cash enron tapped 3 3 billion credit line last week monday moody investors service dealt company blow cutting credit rating two notches junk bond status warned cuts possible analysts said imperative enron fully explain transactions led fall grace disclose whatever liabilities may caused enron needs substantially improve level disclosures said nitin khandkar portfolio manager dubai based al majid investment co owns enron stock accounting policies follows merely legal also reflect company true profitability people still struggling trying quantify worst case scenario could said mike heim analyst g edwards sons copyright 2000 dow jones company inc rights reserved usa funds still shying away former darling enron judith crosson 10 31 2001 reuters english news service c reuters limited 2001 denver oct 31 reuters despite bargain prices mutual fund managers rushing buy shares enron corp high flying energy stock struggling blizzard bad news including formal sec probe deals fears credit crunch murky business dealings sec probe keeping potential buyers wary although stock rose 24 5 percent 2 74 wednesday close 13 90 first rise 10 straight days losses book value around 11 40 share seeing buying today said rahim kassim lakha portfolio manager us global investors global resources fund tuesday enron shares fell 19 percent lowest level nine years kassim lakha fund small holding enron actually selling stock sold high 60 kept small position maintain interest company said way overexposed stock added big question problems horizon enron darling wall street stock widely held institutions teachers retirement funds mutual funds end june nearly 70 percent shares hands 1 175 institutions according data compiled thomson financial sharewatch firstcall enron said wednesday appointed special committee examine finances communicate securities exchange commission upgraded informal inquiry company finances formal investigation sec investigating certain matters subject recent press reports company said statement reference reports murky balance sheet deals partnerships run company former chief financial officer andrew fastow questions persist portfolio manager kassim lakha said still wants know chief executive officer jeff skilling abruptly left august details fastow vacate duties company plans rekindle investor confidence maybe need extra help team come tell best added company said two weeks ago balance sheet deals partnerships run fastow prompting sec launch conflict interest inquiry skilling left august six months job saying wanted change lifestyle company spokesman tuesday said enron pledged restore investor confidence rick giesen managers munder power plus fund shed enron position low 30 also said felt many uncertainties warrant buy yet still quantify maximum exposure market standpoint said one point giesen thought stock might good buy around 25 dissuaded unanswered questions surrounding company lot things need run course make reasonable assessment upside potential downside risk said giesen said enron could hit shareholder lawsuits company biggest energy trader north america could see volume decline people might want counter party enron trades said market watchers keeping eye big funds like janus corp biggest holder enron 42 8 million shares stable according data reported end june janus capitol corp spokesman said denver based fund comment specifically holdings spokeswoman shelly peterson added simply looking june 30 th filing would inappropriate assume position today copyright 2000 dow jones company inc rights reserved