enron mentions 11 28 01 u treasury comment monitoring enron credit markets bloomberg 11 28 01 enron bonds may good buy patient investors analysts say bloomberg 11 28 01 raymond james cartwright comments enron corp future bloomberg 11 28 01 fraud attorney aguirre comments possible enron bankruptcy bloomberg 11 28 01 enron 401 k plan set fall david wilson update 2 bloomberg 11 28 01 dynegy ends enron takeover credit ratings lowered update 8 bloomberg 11 28 01 enron ratings cut junk p moody fitch update 6 bloomberg 11 28 01 creditsights reynolds comments downgrade enron junk bloomberg 11 28 01 spaeth communications president comments enron corp outlook bloomberg 11 28 01 houston astros president says enron name stay stadium bloomberg 11 28 01 california power authority freeman comments enron dynegy bloomberg 11 28 01 enron corp busiest day ever u stock table bloomberg 11 28 01 enron appoints troubh board lead litigation committee bloomberg 11 28 01 enron problems may spark demand treasuries analysts say bloomberg 11 28 01 ifr pegasus evans comments enron impact energy market bloomberg 11 28 01 alliance janus putnam among biggest enron owners drop bloomberg 11 28 01 nvidia replace enron p 500 end trading tomorrow bloomberg 11 28 01 intercontinental exchange ceo sprecher comments enron bloomberg 11 28 01 enron continue utility sale northwest natural update 3 bloomberg 11 28 01 enron breached responsibility employees lawyer says cnbc bloomberg 11 28 01 j p morgan citigroup stumble advising enron sale dynegy bloomberg 11 28 01 enron online trading unit stops operating users say update 5 bloomberg 11 28 01 sempra energy interested buying enron assets update 4 bloomberg 11 28 01 u treasury comment monitoring enron credit markets 2001 11 28 16 04 new york washington nov 28 bloomberg following comment michele davis assistant treasury secretary public affairs enron corp dynegy inc abandoned takeover bid enron today leaving country largest energy trader without enough cash pay 15 billion debt treasury securities rose decision announced investors dumped stocks moved money safety government debt monitoring credit markets always everyday davis said markets always fluctuate seen anything extraordinary enron bonds may good buy patient investors analysts say 2001 11 28 16 18 new york enron bonds may good buy patient investors analysts say new york nov 28 bloomberg enron corp debt plunged half today credit rating cut junk rival dynegy inc abandoned planned buyout company may reward investors willing hold bonds enron sells assets bankruptcy proceeding analysts said enron notes bonds dipped low 15 cents dollar today standard poor cut enron rating six levels b firm debt issues combined face value 15 billion according bloomberg data traded mostly 20 cents 25 cents afternoon analysts expect enron file bankruptcy protection would put bondholders line banks creditors enron cash proceeds asset sales scenario bondholders could get back 50 cents 60 cents dollar within three years said stephen ardizzoni junk bond portfolio manager smh capital advisors pretty decent return purchase prices said ardizzoni said bought enron notes maturing 2003 bonds maturing 2019 15 cents 20 cents dollar today bondholders may end less turns fewer assets liabilities company balance sheet shows ardizzoni said enron drawn fire disclosure practices recent weeks included revelations 1 2 billion reduction shareholder equity early repayment date 690 million note like broker owners enron debt may recover 30 cents dollar within two years mostly proceeds sales enron pipelines international assets real estate said jon kyle cartwright follows enron debt raymond james associates inc enron biggest energy trader made money buying selling electricity natural gas company likened broker hiring retaining high performing employees developing relationships important owning physical assets cartwright said real value broker clients personnel typically minimal post bankruptcy value said cartwright enron trading business much offer office space artwork walls bankruptcy proceeding said marty whitman consider enron bonds 4 billion helps manage third avenue funds new york still 77 year old investor specializes analyzing distressed securities prefers invest debt secured assets said whitman never understand trading raymond james cartwright comments enron corp future 2001 11 28 16 22 new york new york nov 28 bloomberg jon kyle cartwright senior vice president senior energy analyst follows enron corp raymond james associates inc st petersburg florida comments enron outlook company credit ratings cut junk status dynegy inc abandoned takeover bid company disaster cartwright said know file protection creditors enron going concern difficult impossible anyone trades enron trading operations light junk ratings across board dynegy walking away deal trading cash flow cash flow enron cartwright said thought company two months sort problems buy debt initially blew credibility crisis company could manage two months sure talks bankers right doubt bankers could even help said energy trader business enron right career decision hard energy traders adjust world without enron self fulfilling prophecy often happen company credibility crisis recession bear market cartwright said hopefully comes ashes entirely new group analysts follow bigger growth business energy trading smaller energy traders become much bigger market learn analyze things brokerage firms fraud attorney aguirre comments possible enron bankruptcy 2001 11 28 16 28 new york sacramento california nov 28 bloomberg following comments made today michael aguirre partner san diego based law firm aguirre 1998 1999 less majority participants plan 2 14 billion assets available benefits could much diversify investments enron like many companies used stock rather cash match employee contributions restricted sales shares could guess year end makeup plan assets end june reflecting sec disclosure standards savings plans time stock drop reached 99 percent today already well way trio lawsuits enron later reported 1 01 billion third quarter charges ousted chief financial officer andrew fastow ran partnerships accounted charges restated results since 1997 became target sec accounting investigation accepted takeover bid dynegy inc biggest rival company shares ended last year 83 13 closed 61 cents today enron debt downgraded junk bond status dynegy abandoned offer response plunge employees 401 k plan allows workers defer part pay build tax free savings takes name section internal revenue service code filed three lawsuits enron suits allege among things houston based company prevented employees shifting investments within plan oct 17 day disclosure charges nov 19 company made administrative changes three seek class action status behalf plan participants recent filing came gottesdiener law firm based washington monday covers longest time period november 1995 falling percentages enron shares accounted 64 percent savings plan assets end 1994 year period associated gottesdiener suit began figure reflected one time company contribution preferred stock rose 62 percent 1993 preferred share face value 100 convertible 27 304 common shares translates conversion price 3 66 share bargain common tumbled 85 percent today plan also owned stake enron former oil gas unit became eog resources inc gaining independence 1999 add shares company stock represented two thirds 1994 assets enron common preferred shares fell 60 percent 401 k assets available benefits 1995 58 percent 1996 53 percent 1997 u stock market rallied lifting value participants investments equity mutual funds shares represented 49 percent plan assets 1998 proportion hit bottom 46 percent 1999 assets doubled exceeding 56 percent increase enron share price year 1 62 billion much choice came last year common shares recorded best performance two decades even u stocks stumbled enron rallied 87 percent amid soaring electricity natural gas prices standard credit ratings lowered update 8 2001 11 28 16 46 new york dynegy ends enron takeover credit ratings lowered update 8 updates add watson comment new york nov 28 bloomberg dynegy inc abandoned takeover enron corp leaving country largest energy trader facing bankruptcy enron shares plunged 85 percent 1 concern company repay 15 billion debt dynegy withdrew bankers failed raise 1 5 billion enron needed operate acquisition completed credit rating companies lowered enron rating junk reality enron going bankrupt said michael willingham risk manager itochu international inc unit japanese trading firm enron touted king risk management look like managed risk well enron sudden collapse 26 billion market value evaporated seven weeks deals blow alliance capital management holdings llp big mutual funds wall street lenders j p morgan chase co citigroup inc 21 000 employees many relying shares houston based company retirement bankers led j p morgan chase vice chairman james b lee tried two weeks raise cash enron needed investors including saudi prince alwaleed bin talal blackstone group lp carlyle group inc turned concern enron would default concern heightened enron disclosed 690 million payment due week enron shares declined 3 50 61 cents trading 342 million shares traded ever u stock company 6 4 percent bonds mature 2006 quoted low 20 cents dollar 53 yesterday price bonds yield 57 percent termination dynegy said abandoned takeover due breaches enron representations warrants covenants chief executive officer chuck watson said dynegy invoked right purchase enron northern natural gas pipeline dynegy received right exchange investment 1 5 billion enron chevrontexaco corp owns one quarter dynegy unit operates 16 500 miles natural gas pipeline sometimes best deals ones said watson two weeks earlier sealed acquisition coffee muffins kitchen enron ceo ken lay houston home felt choice act protect shareholders interest watson said news dynegy rejection flashed across computer screens enron trading floor houston employees started abandon desks leave office enron trader said several workers said expect company begin firing workers tomorrow prepare bankruptcy work retain employees necessary continuing operations trading core energy businesses said lay statement lay big backer george w bush campaign presidency said held discussions job administration one point enron said statement would halt payments required continue trading operations would review dynegy assertion entitled pipeline unit pipeline company start natural gas pipeline company 1930 enron transformed ceo jeffrey skilling largest competitor business trading energy mainly natural gas electric power skilling company also sought expand internet trading products ranging metals weather derivatives skilling resigned august enron shares tripled two years ended december 2000 peaking market value 70 billion company snared 16 1 billion long term energy management contracts companies international business machines corp starwood hotels resorts worldwide inc first quarter 2001 enron profit operations rose 20 percent 406 million revenue quadrupled 50 billion enron began unravel october said shareholders equity reduced 1 2 billion used stock pay debt partnership run chief financial officer andrew fastow announcement led lawsuits probe securities exchange commission writedown also raised questions enron accounted debt losses similar affiliated partnerships nov 8 restated earnings back 1997 lowering 580 million shares plunged enron faced cash crunch lenders trading partners lost confidence company would cash pay bills citigroup j p morgan chase offered pony 250 million 2 billion company sought trading partners mirant corp less forgiving demanding collateral restricting trading enrononline enron corp online trading system stopped allowing trades quit posting bids offers natural gas morning say traders use web site enron said yesterday enrononline handled 60 percent trading business 2 8 billion day log nothing nothing buy nothing sell said juha laiho energy trader finland based fortum oyj houston went time morning lower credit ratings p cut rating enron b bbb moody lowered rating b 2 baa 3 ratings investment grade downgrade significant reduction junk may require enron repay 3 9 billion andre meade analyst commerzbank securities said enron junk credit rating would effectively shut bulk trading marketing operations likely enron able raise capital settle payments continue business said meade large debts make unlikely investors receive much company file bankruptcy said investors traditional bankruptcy equity holders get nothing said edward paik 1 6 million enron shares among 7 billion assets helps manage liberty funds group company safety net terms assets companies enron ratings cut junk p moody fitch update 6 2001 11 28 16 51 new york enron ratings cut junk p moody fitch update 6 adds bond prices 14 th paragraph new york nov 28 bloomberg standard poor moody investors service fitch inc slashed enron corp credit rating junk status today raising prospect chapter 11 bankruptcy rival energy trader dynegy inc rescinded buyout bid company company struggling cash crunch least 3 9 billion debt comes due immediately rating cut suspending online trading unit non core payments enron trading business also faltering trading partners lose faith company ability meet obligations disaster said jon kyle cartwright debt analyst raymond james associates difficult impossible anyone trades enron trading operations light junk ratings across board dynegy walking away deal p cut enron long term credit rating morning six levels b bbb withdrew short term grade p analyst todd shipman author rating report said rating could lowered enron cash situation resolved move chapter 11 bankruptcy filing lowest rating possibilities saw deterioration trading operations threw merger doubt said said p may change rating soon following suit moody followed p five level cut enron credit rating b 2 baa 3 moody affirmed prime rating enron commercial paper fitch lowered enron senior unsecured rating 10 levels cc bbb short term rating second lowest c f 3 fitch said report default kind appears probable egan jones ratings co cut enron credit rating junk oct 26 lowered one level bb bbb rating company downgraded credit several times since cut c today p moody fitch enron credit rating three levels junk january egan jones rated four levels higher companies cut ratings several times since october amid news enron dealings partnerships run former chief financial officer andy fastow contributed trading losses enron reported 1 01 billion third quarter losses failed investments pressure acquisition dynegy promised alleviate ensuing cash crunch enron stock fell 50 percent since nov 19 amid growing skepticism dynegy would complete acquisition became lot concerned stock stabilize said john diaz moody managing director energy one authors downgrade report drop stock price put pressure dynegy renegotiate deal enron 15 5 billion debt outstanding according bloomberg data shares fallen 99 percent year lost 3 50 today 61 cents company bonds dropped half 26 cents dollar 53 cents p shipman said report willingness dynegy complete planned acquisition enron compromised continued drop confidence capital markets transaction would hold credit analysts also focused enron cash flow levels diaz said enron said recent filing last week 1 billion cash lot less market expected diaz said came surprise us others said expected least 2 5 billion would staying power creditsights reynolds comments downgrade enron junk 2001 11 28 16 52 new york new york nov 28 bloomberg glenn reynolds analyst fixed income research firm creditsights inc comments slide enron corp debt ratings junk levels likely bankruptcy generate material losses number banks wall street firms institutional investors including number face daily pressures marking book market reynolds said counterparty credit defaults also follow effects commodity markets foreign exchange swap desks many counterparties could delay manage loss recognition one one hide interesting issue see fallout default swap market likely brutal step taken file chapter 11 spaeth communications president comments enron corp outlook 2001 11 28 16 53 new york new york nov 28 bloomberg merrie spaeth president spaeth communications comments enron corp options company credit ratings cut junk status dynegy inc abandoned takeover bid company dallas based spaeth communications consultant dynegy chapter 11 reorganization would way enron could resolve lawsuits faces issues surrounding partnerships chapter 11 carries whole set risks gives company chance manage perceptions puts premium communication quick concise targeted communication antithesis enron developed culture benefit chapter 11 gives opportunity revamp business houston astros president says enron name stay stadium 2001 11 28 17 03 new york houston nov 28 bloomberg enron corp left brink bankruptcy losing potential buyer dynegy inc credit rating cut junk friend houston astros team president tal smith said club abandoning company paying 3 3 million annually 30 years name astros home ballpark enron field identify enron identify us smith said negative association difficulties enron u biggest energy trader entered agreement major league baseball team new stadium opened 2000 season company shares way tripling value 1998 astros third straight national league central division title since company fortunes plummeted company 15 billion debt enough cash pay dynegy abandoned plan buy houston neighbor least 23 billion stock assumed debt today enron also contract supply manage energy baseball stadium next 30 years said dean bonham denver based consultant analyzes sells naming rights agreements naming rights deal bonham said going eventually find another company supply service well put name ballpark meantime name astros home change smith said longer company still enron field said california power authority freeman comments enron dynegy 2001 11 28 17 03 new york sacramento california nov 28 bloomberg following comments california power authority chairman david freeman dynegy inc decision abandon purchase enron corp possibility enron filing chapter 11 bankruptcy protection think trading energy spot market going materially affected lot people take slack see indication volatile market kill consumer also kill one companies fascinating footnote year ago state california appeared verge bankruptcy least utilities shoe kind dropped foot take pleasure view happy good thing live sword sometimes die sword enron corp busiest day ever u stock table 2001 11 28 17 19 new york enron corp busiest day ever u stock table new york nov 28 bloomberg enron corp active day u stock 343 million shares trading according preliminary figures new york stock exchange enron plunged 3 50 85 percent 61 cents share dynegy inc abandoned takeover bid enron leaving largest energy trader without enough cash pay 15 billion debt standard poor corp cut enron credit rating junk bankers failed raise 1 5 billion enron needed operate sale completed following list stocks 10 highest one day trading volumes u market history according data nyse nasdaq stock market stock date volume millions enron corp nov 28 2001 343 2 intel corp sept 22 2000 308 7 cisco systems inc feb 7 2001 281 6 oracle corp march 2 2001 224 0 cisco systems jan 10 2001 213 0 jds uniphase corp july 26 2000 200 4 cisco systems oct 3 2001 196 5 worldcom inc nov 1 2000 195 5 exodus communications sept 25 2001 193 1 exodus communications june 21 2001 186 4 enron appoints troubh board lead litigation committee 2001 11 28 17 28 new york enron appoints troubh board lead litigation committee houston nov 28 bloomberg enron corp whose shares dropped 85 percent today dynegy inc walked away takeover bid appointed financial consultant raymond troubh board lead new litigation committee enron top energy trader whose shares fallen 99 percent year said committee evaluate claims shareholder lawsuits filed company since u securities exchange commission began investigating company finances enron board member william c powers jr dean university texas school law appointed last month also serve litigation committee troubh serves boards starwood hotels resorts healthnet inc diamond offshore drilling triarc cos gentiva health services inc among others holds degrees bowdoin college yale law school former general partner investment bank lazard freres co shares houston based enron fell 3 50 61 cents enron problems may spark demand treasuries analysts say 2001 11 28 17 36 new york new york nov 28 bloomberg enron corp fall junk credit ratings may benefit treasury securities traders investors worry firms exposure houston texas based energy trader gains would add u government debt returned 6 percent year benefited falling stocks disappointing corporate earnings well federal reserve 4 5 percentage points rate cuts aimed reviving economy recession since march dynegy inc agreed purchase enron terminated agreement following downgrade anything negative connotation like investors get spooked first thing think jump something safe like treasuries said brian cothran helps manage 15 billion fixed income fifth third bank cincinnati said plans hold enron bonds portfolio treasuries jumped following standard poor downgrade enron corp investors sought relative safety debt backed u widely traded 10 year note rose 101 6 32 100 25 32 10 minutes announcement downgrades enron p moody investors service junk bond status raised concern credit ratings firms exposure energy trader especially files bankruptcy protection downgrades also triggered enron need repay 3 9 billion notes sold two trusts marlin water trust osprey trust enron 15 billion debt preferred stock 4 billion bank loans 3 billion unsecured swaps options derivative risk included figures banks wall street dealers hold unsecured enron loans sold credit default swaps provide insurance debt holders case enron defaults interest rate futures eurodollar futures indications three month interest rates used hedge risk rose announcement p downgraded enron junk flight quality bid traders tried figure big calamity may said scott gelling assistant vice president carr futures inc chicago scale one 10 long term capital management 10 wondering fall swap spreads gauge investors willingness buy riskier assets rose fourth day five downgrade major u stock indexes declined 72 basis points 10 year treasury yield 10 year swap spread risen 14 basis points three year low two weeks ago today move part reaction concerns exposure u based banks may enron including j p morgan chase co citigroup arranged company fully drawn 3 billion unsecured credit line traders said seeking yield fed ten interest rate cuts year helped encourage investors seek higher yields top investment grade borrowers including corp american express co fed cuts also depressed already low rates money market funds certificates deposit price enron 6 4 percent notes maturing 2006 tumbled 20 cents dollar 53 cents yesterday price bonds yield 57 percent enron tumble pulled prices corporate bonds investors worried recession eroding companies ability repay debts corporate yield spreads widened much 4 basis points according fidelity capital markets still flight quality may short lived said kevin cronin oversees 45 billion putnam investments boston owns enron debt enron one credit think indicative financial crisis said erasing gains treasuries erased gains government sold record amount two year debt expectations sales increase pay nation war terrorism fiscal spending tax cuts investors selling debt purchased expecting flight quality enron news materialize exacerbated sell traders said 10 year note lost almost half point half hour yield rising 4 91 percent 4 87 percent note 5 percent coupon matures august 2011 ended day little changed yielding 4 92 percent nobody terrific handle market acting violently said brad stone director u market strategy barclays capital volatility increasing year end one wants take lot risk said ifr pegasus evans comments enron impact energy market 2001 11 28 17 36 new york new york nov 28 bloomberg tim evans senior energy analyst ifr pegasus new york comments impact energy trading credit crisis left enron corp facing bankruptcy company enrononline internet based platform trading natural gas power oil stopped functioning morning time dynegy inc pulled planned buyout enron decision came moments standard janus capital corp unit stilwell financial inc putnam investment management inc owned marsh barclays global investors unit barclays plc fidelity investments world largest money manager enron shares fallen 99 percent year wiping 77 1 billion market value investors lost 2 61 billion today alone stock plunged 3 50 85 percent 61 cents share stock posted biggest decline standard poor 500 index year meaning fund managers 1 trillion invested portfolios try mimic benchmark followed stock enron decline today prompted standard poor kick company p 500 used professional investors benchmark u stocks company removed market closes tomorrow index managers mimic makeup p closely possible sell time investors likely sell well already money managers pick stocks based evaluation company earnings prospects often prefer stick stocks index ensure performance lag benchmark barclays global biggest manager index portfolios sell stock p 500 index funds said spokesman tom taggart comment institutional investors required tell securities exchange commission invested many shares biggest investors may sold bought shares since last filings sept 30 alfred harrison vice chairman fund manager alliance capital immediately return call john meyers spokesman declined comment janus spokeswoman shelley peterson fidelity spokesman vin loporchio call putnam spokeswoman nancy fisher immediately returned california state teachers retirement system owned 2 million enron shares june latest filing said sherry reser spokeswoman 88 percent stake index index like funds said would follow whatever rebalancing done index said california public employees retirement system biggest u employee pension fund 144 billion assets owns 3 million enron shares index fund said spokesman brad pacheco said losses hurt calpers overall going winners losers pacheco said minimal compared entire portfolio scott schermerhorn manager 1 billion liberty utilities fund boston said similar position bought shares largest energy trader 10 year say sold stake still utilities fund 8 7 percent 2001 versus 14 5 percent decline p 500 knocked good loop knock said three largest sellers enron stock since end third quarter rorer asset management goldman sachs group inc american express financial goldman spokeswoman kathleen baum declined comment edward rorer chairman philadelphia based rorer asset management immediately return call spokeswoman terri dresen american express said firm sold shares last several months said know many time sell three largest buyers alliance rittenhouse fidelity pain extends beyond stockholders enron 6 4 percent bonds mature 2006 quoted 20 cents dollar 53 yesterday enron exchange notes traded new york stock exchange convertible shares eog resources inc fell 11 76 6 15 notes tied enron stake eog said eog spokeswoman maire baldwin eog former enron unit shares newpower holdings inc fell 26 cents 90 cents giving loss year 90 percent enron newpower largest shareholder well major creditor newpower markets power homeowners nationwide canada ontario teachers pension plan oversees c 70 billion us 44 billion sold stake newpower according senior vice president merchant banking james leech plan owned 2 5 million shares 5 6 million class warrants standard poor cut enron credit rating junk today bankers failed raise 1 5 billion enron needed operate deal done lack funds prospect downgrade contributed dynegy decision cancel buyout valued 23 billion nov 9 obviously lost money like shareholder pacheco said calpers tools toolbox corporate governance measures lawsuits like seen already filed enron shareholder trying recover losses decisions using going made board pacheco said likely calpers take action pension fund board chance talk planned meeting dec 17 sacramento would certainly member class action suit said taggart barclays global schermerhorn said could sue though sure worth trouble part bondholders typically paid first company goes bankrupt like suing guy washing windows outside lincoln tunnel schermerhorn said could win would get largest enron shareholders sept 30 name shares axa financial 43 01 million janus capital 41 36 million putnam investment 23 12 million barclays global 23 04 million fidelity management 20 79 million citigroup inc 20 79 million state street global 16 14 million aim advisors inc 13 99 million taunus corp 12 45 million vanguard group 11 45 million source sec filings nvidia replace enron p 500 end trading tomorrow 2001 11 28 17 40 new york nvidia replace enron p 500 end trading tomorrow new york nov 28 bloomberg enron corp dropped standard poor 500 index replaced nvidia corp close trading tomorrow standard poor said shares enron largest energy trader plunged 85 percent 61 cents today company may go bankrupt rival dynegy inc abandoned takeover company enron failed raise enough cash keep operating purchase could completed nvidia makes computer graphics chips best performing stock nasdaq 100 index year gaining 214 percent anheuser busch cos replace enron p 100 standard poor said largest brewer already member p 500 intercontinental exchange ceo sprecher comments enron 2001 11 28 18 01 new york atlanta nov 28 bloomberg jeffrey sprecher chief executive officer intercontinental exchange inc comments downgrade today enron corp credit rating junk status affected intercontinental online energy trading system atlanta based intercontinental owned consortium banks energy companies including bp plc duke energy corp goldman sachs group inc 3 600 bids offers logged intercontinental system 11 sprecher said within 15 minutes credit downgrade standard poor left enron rating junk status number dropped 2 100 40 percent people market pulled momentarily assess going big trading day ice record day one top five busiest days 65 percent terms trading volumes last 30 days number new users gone 30 percent lot growth trying digest last 30 days much attributable problems enron enron continue utility sale northwest natural update 3 2001 11 28 17 40 new york enron continue utility sale northwest natural update 3 adds northwest natural comment fourth fifth paragraphs portland oregon nov 28 bloomberg enron corp nearly bankrupt energy trader plans go sale portland general electric co utility unit northwest natural gas co companies said enron last month agreed sell pge northwest natural 2 9 billion cash stock assumed debt dynegy inc today called planned purchase enron saying energy trader breached covenants merger agreement dynegy supported pge sale northwest natural filed application buy pge oregon public utility commission today application northwest natural said combining operations pge would eventually result savings much 30 million year northwest natural study potential impact enron latest problems northwest chairman chief executive officer richard g reiten said said expects acquisition move forward believe underscores merits acquisition pge northwest natural reiten said conference call analysts enron spokeswoman karen denne said company plans call sale proceeding previously announced asset sales including portland general denne said northwest natural shares fell 47 cents 23 87 enron shares fell 3 50 61 cents enron shares dropped 99 percent since first year commission role marc hellman administrator responsible mergers acquisitions oregon public utility commission said unsure would happen enron file bankruptcy protection recall ever happening 22 years hellman said went way end liquidating assets sell utility property without commission approval probably issues attorney general office may look hellman said heard nothing indicate northwest natural purchase pge go forward enron getting cash northwest natural purchase well shares hellman said aspect transaction becomes little curious enron going bankruptcy debt downgrades moody investors service today downgraded pge senior secured debt 3 2 moody also downgraded pge unsecured debt junior subordinated debt preferred stock moody standard poor fitch inc cut enron credit rating junk status today ratings service said expected downgrade pge ratings northwest natural completed acquisition utility however today rating action taken advance expected closing transaction reflect moody concerns surrounding portland general ability remain fully insulated many financial challenges currently faced parent enron corp due large part lost investor confidence enron moody said statement enron breached responsibility employees lawyer says cnbc 2001 11 28 17 38 new york houston nov 28 bloomberg enron corp breached fiduciary responsibilities employees allowing continue invest company stock retirement plans enron employees lawyer eli gottesdiener said interview financial news network cnbc company stopped program encouraged employees invest shares part 401 k plan gottesdiener said interview company known stock artificially inflated told cnbc j p morgan citigroup stumble advising enron sale dynegy 2001 11 28 18 32 new york j p morgan citigroup stumble advising enron sale dynegy new york nov 28 bloomberg j p morgan chase co citigroup inc bet reputations backing enron corp sale dynegy inc failed merger left investment firms black eyes hundreds millions possible losses dynegy abandoning proposed takeover today banks could lose 800 million according goldman sachs group inc financial services analyst richard strauss banks also stand forfeit 45 million apiece advisory fees surprised heads rolled said david gilmore manages 1 1 billion federated capital appreciation fund owns j p morgan citigroup shares j p morgan shares lost 2 30 5 8 percent 37 50 transaction fell apart citigroup dropped 2 75 5 4 percent 47 80 j p morgan spokeswoman kristin lemkau declined comment citigroup salomon smith barney investment banking unit dynegy withdrew bid initially valued 23 billion standard poor corp downgraded enron debt junk banks takeover would year third largest ranked eighth among announced takeovers year sometimes best deals ones dynegy chairman charles watson said conference call know say deal implosion today enron shares 61 cents capped epic saw houston based company turn natural gas pipeline carrier largest u energy trader outfit debts 15 billion pay enron plunge enron stock began plunging october falling 90 75 peak disclosure securities exchange commission probe company accounted outside partnerships created even dynegy made bid nov 9 citigroup j p morgan tried shore enron agreeing lend company 1 billion j p morgan also enlisted chairman william harrison make calls keep energy trader credit junk rating salomon smith barney drafted chief executive officer michael carpenter similar effort takeover formally proposed banks made good loan commitment agreed invest another 250 million investors could found j p morgan vice chairman james b lee headed team tried failed raise another 1 5 billion failed strategy among turned enron bankers saudi prince alwaleed bin talal carlyle group inc blackstone group lp collapsed transaction may tarnish citigroup j p morgan questionable strategy extending commercial lending power clients gain higher margin investment banking business analysts said bank formed commercial bank took investment bank behind formation larger banks notion could attract investment banking business stand alone investment banks goldman sachs group inc morgan stanley dean witter co limited lend strategy failed great cost enron dynegy merger fell apart purchase still taking shape goldman sachs refused lend enron client whose credit rating falling making less frequent use goldman investment banking services according people familiar matter bankruptcy inevitable morgan stanley avoided enron perceived demanding client one played investment banks reduce fees person familiar matter said lehman brothers holdings inc advised dynegy negotiated fee 15 million enron worst performer year standard poor index 500 large u companies fell 3 50 85 percent 61 cents 52 week high reached dec 28 84 88 dynegy backing ready savior enron may quickly wind bankruptcy court analysts investors said bankruptcy inevitable said michael heim analyst g edwards sons sell rating enron shares enron online trading unit stops operating users say update 5 2001 11 28 18 37 new york enron online trading unit stops operating users say update 5 adds nymex chairman comment 26 th paragraph new york nov 28 bloomberg enrononline handled 2 8 billion day energy trading parent enron corp halted internet transactions quit posting prices natural gas electricity oil products said users web site trading screens became useless 11 new york time around dynegy inc canceled plans buy enron decision may force enron country largest energy trader file chapter 11 bankruptcy protection analysts said enron buyer seller transactions enrononline company said yesterday enrononline handled 60 percent trading business 2 8 billion day trading average past 30 days halt service left users unable value make trades switched competitors atlanta based intercontinental exchange inc online exchange run consortium banks energy companies log nothing nothing buy nothing sell enrononline said juha laiho energy trader finland based fortum oyj houston leslie vandagriff manager natural gas trading highland energy co sitting desk dallas everything went blank vandagriff using enrononline prices compare value trades making companies switched prices published intercontinental exchange future enron temporarily suspended payments necessary maintain core operations company said statement enron officials return numerous phone calls seeking comment status enrononline news collapse acquisition reached enron traders many left trading floor saying without dynegy future enron trader said traders outside company already wary making new contracts enron concern credit rating today slashed junk status standard poor moody investors service think anybody trading enron right fortum oyj laiho said even late last week people making new positions unstable situation small exposure enron biggest trading partners said exposure losses enron bankruptcy small el paso corp owner biggest u pipeline network american electric power co biggest electricity generator aquila inc energy trader said faced possible loss 50 million mirant corp said lose 60 million dynegy said exposure limited 75 million anticipate string bankruptcies follow one said tim evans senior energy analyst ifr pegasus new york energy markets bigger one company including enron american electric spokesman pat hemlepp said expect disruption energy buyers sellers concerned weeks enron financial problems may disrupt markets new york mercantile exchange largest energy marketplace enron largest trader natural gas go bankruptcy protection may even happen end day nymex positions liquidated said ed silliere vice president risk management energy merchant llc new york nymex comfortable customers safe financial losses suffered single entity spokeswoman nachamah jacobovits said asked enron cover losses enron positions futures markets guaranteed first member members clear trades exchange clearing member cover losses exchange 70 million guarantee fund followed another 425 million could draw members natural gas futures surged much 8 percent news dynegy pullout prices later declined 11 percent nymex gas december delivery fell 29 cents 2 316 per million british thermal units financial safeguards like nymex available counter energy markets including forward swaps transactions transactions backing intermediary near term chilling effect forward energy trading business said tom knight director trading truman arnold cos wholesale fuel supplier texarkana texas willing trade company size enron companies going willing deal exchanges online energy exchanges benefited traders avoided business enron ngx canada inc internet exchange natural gas canada traded 300 000 terajoules gas far month worth 750 million current prices trading 50 percent higher october yesterday third fourth best day ever said dan zaftawny spokesman ngx owned om gruppen ab parent stockholm stock exchange another beneficiary atlanta based intercontinental exchange owned consortium includes aep bp plc duke energy corp goldman sachs group inc big trading day ice said jeffrey sprecher intercontinental chief executive officer 65 percent terms trading volumes last 30 days number new users gone 30 percent lot growth trying digest last 30 days much attributable problems enron new york mercantile exchange expected approve expanded extended trading natural gas tomorrow morning nymex accelerate introduction electronic trading platform designed compete enrononline exchange chairman vincent viola said interview cnbc sempra energy interested buying enron assets update 4 2001 11 28 18 45 new york sempra energy interested buying enron assets update 4 adds sempra exposure enron ninth 10 th paragraphs san diego nov 28 bloomberg sempra energy owner electric natural gas utilities interested buying enron corp assets energy trader planned merger dynegy inc failed sempra spokesman said interested enron hard assets interest would lie assets would synergies operations sempra spokesman doug kline said beyond give specifics dynegy today called purchase enron saying energy trader breached covenants merger agreement dynegy agreed buy enron least 23 billion stock assumed debt month federal investigation accounting irregularities enron limited ability finance operations sent shares plunging sempra shares fell 35 cents 22 70 enron shares fell 3 50 61 cents enron shares dropped 99 percent since first year houston based enron ownership interest argentina 4 104 mile natural gas pipeline system largest pipeline system south america sempra energy international owns 43 percent stake two natural gas utility holding companies argentina sempra also owner san diego gas electric southern california gas co utilities asset sale program looking selling global assets core business continuing asset sale program enron spokeswoman karen denne said going comment discussions status addition interest enron assets san diego based sempra discussions enron employees want leave company kline said number enron employees approached us aware approached firms kline said also sempra said today overall financial exposure related transactions enron affiliates less 15 million would material earnings kline said