enron mentions enron troubles tip iceberg thestreet com 10 26 2001 radar enron flickering bulb thestreet com 10 26 2001 dj enron unit new england market downplay report default dow jones 10 26 2001 enron lawsuit microsoft broadband agreement may block msn bloomberg 10 26 01 enron executives sent requests details affiliate profits bloomberg 10 26 01 enron still target california amid problems updatel bloomberg 10 26 01 enron bonds fall company taps 3 bln credit line update 5 bloomberg 10 26 01 keller rohrback l l p investigates potential claims behalf enron corp ene employees former employees business wire 10 26 01 enron troubles tip iceberg peter eavis senior columnist thestreet com 10 26 2001 05 23 pm edt url dealings related party tarnished enron ene nyse news commentary reputation crushed stock looks like case far unique battered energy trader done business least 15 related entities according documents supplied lawyers people suing enron moreover enron new cfo portrayed bulls opposing related party dealings predecessor serves 12 entities enron board members listed directorships roles houston based related entity called es power 3 extent enron dealings companies value holdings immediately determined existence partnerships could feed investors fears enron billions dollars liabilities show balance sheet company financial strength growth prospects could much less generally assumed wall street company long treated kid gloves enron immediately respond questions seeking details es power role chief financial officer jeff mcmahon various entities enron board members immediately reached comment ten long days enron previous cfo andrew fastow replaced mcmahon wednesday investors criticized fastow role partnership called ljm done complex hedging transactions enron details deal two others emerged enron stock cratered turmoil resulted fastow departure began two weeks ago enron reported third quarter earnings met estimates however company failed disclose earnings press release 1 2 billion charge equity related unwinding ljm transactions since investors analysts calling increasing vehemence company divulge full details business dealings related entities enron stock sank 6 friday meaning lost 56 value two weeks enron end run new financial chief involvement enron business partners enron related entity creation datemcmahon involved ect strategic value corp 4 18 1985 yes jilp lp inc 9 27 1995 yes ect investments inc 3 1 1996 yes kenobe inc 11 8 1996 yes enserco llc 1 7 1997 yes obi 1 holdings llc 1 7 1997 yes oilfield business investmentsl 7 1997 yes hgk enterprises lp inc 7 29 1997 yes ect eocene enterprises iii inc 2 20 1998 yes jedi capital ii llc 9 4 1998 yes e c coal company 12 31 1998 yes es power 3 llc 1 7 1999 yes enserco inc 3 25 1999 ljm management llc 7 2 1999 blue heron llc 9 17 1999 whitewing management llc 2 28 2000 jedi capital ii llc 4 16 2001 source detox however enron yet break full list related entities company said nothing publicly mcmahon participation related entities mentioned board members directors senior officers es power 3 explained extensive use star wars related names related party companies immediately clear es power 3 far subpoenas issued lawyers suing enron determined names senior officers es power 3 formation date january 1999 among es power 3 senior executives enron ceo ken lay listed director mcmahon fastow listed executive vice presidents raft external directors named es power 3 directors including comdisco ceo norman blake ronnie chan chairman hong kong based hang lung group comdisco spokeswoman says blake commenting matters concerning enron call hang lung group immediately returned demands demands rating agencies moody fitch p recently put enron credit rating review possible downgrade ljm deal led 1 2 billion hit equity enron still rating three notches investment grade bonds trade yield generally seen subinvestment grade junk bonds suggesting market believes downgrades likely enron rating drops investment grade must find cash issue stock pay least 3 4 billion balance sheet obligations addition many swap agreements contain provisions demand immediate cash settlement rating goes investment grade friday company drew 3 billion credit lines pay commercial paper obligations raising cash cp market could tough investors jittery enron condition week number energy market players reduced exposure enron however friday press release ceo lay said enron market maker choice wholesale gas power markets added evident customers view enron major liquidity source global energy markets mcmahon reportedly objected fastow role ljm allegedly believing posed fastow conflict interests need convince investors 12 entities connected enron said board fully approved ljm deals fastow involved board members comment roles related entity radar enron flickering bulb christopher edmonds special thestreet com 10 26 2001 05 08 pm edt url bulb enron ene nyse news commentary may burnt clearly flickering date investors sure whether chairman ceo ken lay task energizing company built greatness happened houston energy giant turned dwarf could imagined number ne er well companies well chronicled bubble enron one longtime enron bull shareholder said never worry enron ability survive week still find hard believe peter eavis done exceptional job chronicling enron adventures time listened earlier year profited knowledge reporting enron partnership shenanigans departure chief financial officer andrew fastow outstanding rumors pending bankruptcy justice department investigation enron single handedly cause california power crisis royal dutch shell rd nyse news commentary make bid buy company sources tell head count reductions likely employee buyout offers company set refocus core energy business former ceo jeff skilling shares culpability current mess departure appears indirectly related enron current woes enron faces daunting challenge rebuilding business importantly reputation company challenge enron simple come clean clean mess refocus core business wholesale energy markets risk management retail energy services support create platform plenty profitable without lot gimmicks gut feel enron pull long term investors hold firm eventually stock gets valued earnings upside potential 25 per share next 12 18 months says jeff dietert power analyst simmons co member tsc energy roundtable believe new money high risk tolerance wait enron announces intentions communicating clear path recovery dietert outlines four challenges enron one management must regain street confidence persuade investors resolve balance sheet strength generate expected earnings cash flow two enron must maintain investment grade credit rating three enron must successfully execute divestiture plans four enron must control timing recognition write value assets market value less book straightforward yes easy accomplish although enron says additional write downs unlikely except 200 million charge early next year result accounting change analysts sure focused company global assets portfolio sporting 6 billion book value generating ebit earnings interest taxes loss 18 million past 12 months divestitures include 390 million exploration production assets india 250 million puerto rico power plant 250 million brazilian power plant fourth quarter well pending sale portland general set close 2002 likely others however enron execute given current state affairs seller feel pressure credit rating issue fine line current ratings bbb standard poor baal moody three levels non investment grade however rating agencies enron radar screens possible downgrades dietert estimates enron debt market cap 48 year end company interest coverage ebitda interest expense 3 5 times comparison average lower stock prices force rating agencies consider downgrades potentially lower credit ratings force counter parties reduce exposure enron limiting enron ability generate earnings cash flow time enron grow despite lot uncertainties risk think investors risk capital homework stock think strategy tough call requires strict individual discipline irony whole story especially enron lack candor reporting financial results much lauded advertising campaign enron looking challenge conventional wisdom asks simple question ask investors asking time ken lay answer first things first many readers asked relative quietness week thank concern father fallen ill fighting effects brain tumor decade choice easy family enjoy weekend family friends dj enron unit new england market downplay report default 2001 10 26 17 14 new york kristen mcnamara dow jones newswires new york dow jones enron corp ene retail sales unit defaulted credit requirement new england wholesale power market month event neither unique newsworthy energy company organization developed market rules said friday operator region wholesale power market informed enron energy services last week third time 12 months traded greater volume electricity allowed bond posted risk expulsion new england market administrative mixups rather financial problems triggered warning companies also received past market rulemaker said state considerable confidence participants defaulted credit agreements never news said david doot secretary general counsel new england power pool developed policies governing region electricity market instinct blown way hell proportion news enron unit default appeared trade publication major metropolitan newspaper week enron dealings partnerships headed former chief financial officer contributed plunge company stock bond prices enron energy services never received word defaulted bonding requirement twice times corrected problem within day spokeswoman peggy mahoney said letter sent iso new england operates region power market notify enron unit third violation addressed wrong person delaying company response mahoney said clearly administrative error immediately took care ensure would never exceed volume limit mahoney said company resolved problem oct 19 mahoney said iso new england spokeswoman ellen foley confirmed friday company cured default rare company default three times happened occasion foley doot said say commonplace say unusual participant find compliance doot said things fact happened time time kristen mcnamara dow jones newswires 201 938 2061 enron lawsuit microsoft broadband agreement may block msn 2001 10 26 16 47 new york enron lawsuit microsoft broadband agreement may block msn houston oct 26 bloomberg enron corp lawsuit alleging microsoft breached contract broadband services could temporarily block largest software company high speed internet service u regions microsoft said dispute temporarily blocks company providing high speed service areas enron provides broadband access leaving msn fully operational 14 states qwest communications international inc operates said bob visse director marketing msn enron lawsuit filed yesterday microsoft planned offer fast internet access 45 cities beginning yesterday give largest software company access potential customers 29 million homes microsoft 2 u internet provider making push win customers aol time warner inc trying resolve issues enron quickly possible time evaluating providers visse said officials houston based enron largest energy trader immediately return calls comment agreement enron june signed agreement microsoft provide bandwidth msn internet service agreement enron required deliver operational broadband services microsoft first provided billing ordering system dow jones newswire reported enron claims lawsuit microsoft failed deliver ordering billing system required initial phase deal dow reported enron lawsuit comes microsoft said oct 23 letter enron breached contract provided operational bandwidth system oct 25 allowing microsoft recover damages shares redmond washington based microsoft fell 36 cents 62 20 enron shares fell 95 cents 15 40 joyzelle davis los angeles 213 617 0582 enron executives sent requests details affiliate profits 2001 10 26 15 36 new york enron executives sent requests details affiliate profits houston oct 26 bloomberg lawyers shareholder suing enron corp asking executives largest energy trader disclose income made involvement affiliated companies bought sold enron assets lawyers made requests president greg whalley vice chairman mark frevert chief financial officer jeff mcmahon 83 employees arrived enron houston offices week said paul paradis partner new york law firm abbey gardy requests also sent 17 enron partnerships whitewing management marlin water paradis represents fred greenberg enron shareholder suing company board allowing former chief financial officer andrew fastow run partnerships cost company least 35 million cash 1 2 billion lost shareholder equity requests aimed determining enron executives benefited financially roles officers directors partnerships bought sold company assets enron formed least 18 affiliated companies listing executives employees officers directors partnerships according texas secretary state records texas law failure respond document requests result subpoenas issued subpoenas could go next week responses arrive paradis said enron spokeswoman karen denne respond requests comment document requests executives earned income partnerships enron spokesman mark palmer said financial interests structures enron employee palmer said said common company name executives boards affiliates affiliates debts texas records show chief executive officer kenneth lay frevert whalley mcmahon dozens people list address enron corporate headquarters serving officers directors limited liability companies foreign business corporations document requests ask enron executives information form compensation benefit received affiliates including stock grants options also ask executives disclose equity partnership interests affiliates enron formed many affiliates buy company assets power plants natural gas pipelines allowed enron move debt associated projects books affiliates bought assets borrowed money plan repay debt eventually selling assets enron might liable shortfall sales proceeds debt could amount least 3 3 billion assets generate money remote possibility company said answers investors analysts pressed enron chief executive officer kenneth lay details finances partnerships conference call tuesday today enron spokeswoman karen denne respond questions one es power 3 llc texas records list 78 enron executives employees officers directors managers es power 3 llc entire enron board also listed shares enron 1 15 15 20 late trading russell hubbard princeton newsroom 609 750 4651 enron still target california amid problems updatel 2001 10 26 16 15 new york enron still target california amid problems updatel updates closing share price last paragraph sacramento california oct 26 bloomberg enron corp facing inquiry federal securities regulators partnerships run former chief financial officer remains target investigations lawsuits california california lawmakers regulators accused power providers manipulating state energy market raise prices enron biggest energy trader power sellers denied charges repeatedly next month california senate committee investigating power market plans hold hearing determine enron generators complying subpoenas trading documents enron filing documents sacramento california still putting documents depository think completed process said alexandra montgomery consultant committee remains seen whether enron complying subpoena said suits inquiries came wholesale power prices california soared leaving state two largest utilities insolvent california plan open electricity market competition utilities pg e corp edison international allowed pass rising costs customers know best comply committee asking enron spokesman mark palmer putting documents depository looking forward speedy resolution shares houston based enron fallen half since oct 16 company ousted andrew fastow chief financial officer wednesday amid u securities exchange commission inquiry partnership ran cost enron 35 million grand jury enron also one companies investigated civil criminal violations california attorney general bill lockyer convened grand jury june lockyer criticized enron officials telling wall street journal may would like put enron chairman kenneth lay 8 x 10 cell could share tattooed dude says hi name spike honey lockyer later apologized remark attorney general investigation proceeding lockyer spokeswoman sandra michioku said michioku said know civil criminal charges enron power providers might filed investigation still pursued said go court get enron turn documents slowed things bit enron palmer said know status attorney general investigation think attorney general demonstrated willingness take fair impartial look long time ago made vulgar unfounded remarks chairman palmer said lawsuits enron along major power providers duke energy corp dynegy inc face least five lawsuits alleging manipulated california energy prices violation antitrust laws cases include separate complaints filed city san francisco california lieutenant governor cruz bustamante various consumers currently state courts awaiting coordination proceeding said michael aguirre lawyer representing bustamante lawsuits assigned judge end next month said complaints succeed companies might ordered repay profits illegal activities pay fines including triple damages enron stock fell 95 cents 5 8 percent 15 40 declining eighth day row shares fallen 80 percent past 12 months daniel taub los angeles 323 801 1261 enron bonds fall company taps 3 bln credit line update 5 2001 10 26 16 18 new york enron bonds fall company taps 3 bln credit line update 5 adds investor comment fourth paragraph houston oct 26 bloomberg enron corp bonds shares fell largest energy trader tapped 3 billion credit line shut leading market low interest short term loans company stock fallen 54 percent past 14 days investors questioned transactions affiliates run enron former chief financial officer shares fell 95 cents 5 8 percent 15 40 today chief executive officer kenneth lay failed reassure investors company credit rating cut investors said enron longer borrow commercial paper markets short term loans carry lower rates banks offer financial flexibility said john cassady helps manage 3 billion bonds fifth third bancorp people questioning credibility management company use credit line pay 2 2 billion commercial paper outstanding enron spokesman mark palmer said bonds drop enron 6 3 4 percent bonds mature 2009 declined 1 1 2 points bid 84 cents dollar offer 86 cents price bonds carry rating bbb yield 9 53 percent investors grown concerned company credit rating cut 1 01 billion third quarter losses failed investments enron needs good credit raise cash daily keep trading partners demanding collateral settle transactions enron decision tap credit line smart financial move said stephen moore vice president moody investors service follows company took away hassle time consuming nature rolling commercial paper insured access capital though enron bonds investment grade ratings yield current prices higher industrial bonds carry junk ratings according bloomberg data companies bb ratings pay average 9 16 percent borrow seven years lower credit rating may also force enron buy back holdings partnerships stock diluting value enron investors stock partnerships called whitewing marlin yosemite enron assets bought borrowed money enron sold assets partnerships keep related debt books partnerships plan repay borrowed money selling assets liabilities enron loses investment grade rating borrowed money comes due earlier leaving less time partnerships find best price power plants assets enron would make shortfall assets would sell amount debt one way would issuing common shares exchange enron preferred convertible shares held partnerships would thin holdings every investor two main bond rating companies moody fitch enron watch possible downgrade standard poor lowered enron long term credit outlook negative egan jones rating co today lowered rating enron debt bb one notch investment grade bbb enron liabilities associated partnerships amount least 3 3 billion company said enron ousted chief financial officer andrew fastow wednesday amid securities exchange commission inquiry partnership ran cost company 35 million direct losses enron also bought back 62 million shares partnership reducing shareholder equity 1 2 billion looks like guy supposed everything benefit shareholders running partnerships benefit fifth third cassady said jeff mcmahon head enron industrial markets group named cfo bid restore investor confidence lay said statement russell hubbard princeton newsroom 609 750 4651 keller rohrback l l p investigates potential claims behalf enron corp ene employees former employees 10 26 2001 business wire copyright c 2001 business wire seattle business wire oct 26 2001 seattle keller rohrback l l p currently investigating potential erisa claims behalf participants beneficiaries enron retirement 401 k plans investigation period covers january 2000 october 2001 investigation focuses concerns law interpreting erisa enron plan administrators may breached fiduciary duties loyalty prudence failing disclose inform plan participants beneficiaries respect use employer stock plan investment rather providing complete accurate information plans participants may alleged enron plan administrators may withheld concealed material information thereby encouraging participants beneficiaries continue make maintain substantial investments company stock plans investigation conducted light recent events oct 16 2001 enron surprised market announced company taking non recurring charges totaling 1 01 billion tax 1 11 loss per diluted share third quarter 2001 enron later revealed material portion charge related unwinding investments certain limited partnerships controlled enron cfo company would eliminating 1 billion shareholder equity result unwinding investments news began assimilated market price enron common stock dropped significantly addition several recently filed securities suits allege enron executives engaged extensive insider trading gaining millions dollars personal proceeds enron retirees lost substantial portion retirement earnings due drop value retirement assets member enron retirement plan wish discuss announcement information relevant investigation may contact paralegal liza catabay member team britt tinglum liza catabay lynn sarko toll free 800 776 6044 via e mail investor kellerrohrback com seattle keller rohrback l l p successfully represented shareholders consumers class action cases decade trial lawyers obtained judgments settlements behalf clients excess seven billion dollars contact keller rohrback l l p liza catabay 800 776 6044 investor kellerrohrback com www seattleclassaction com 15 16 edt october 26 2001 copyright 2000 dow jones company inc rights reserved