enron mentions 11 29 01 enron europe says chosen administrator bloomberg 11 29 01 enron derivatives debt reveal market risk nyt says bloomberg 11 29 01 enron board compromised financial ties updatel bloomberg 11 29 01 enron indian lenders may take power project update 2 bloomberg 11 29 01 enron bankruptcy would largest chapter 11 filing updatel bloomberg 11 29 01 enron derivatives debt reveal market risk nyt says bloomberg 11 29 01 powergen says exposure enron u u k material bloomberg 11 29 01 enron collapse evokes memories old time bank run nyt says bloomberg 11 29 001 rwe says open positions enron much less eul 0 mln bloomberg 11 29 01 enron soared innovation fell debt scared away investors bloomberg 11 29 01 centrica may write 43 mln enron fails updatel bloomberg 11 29 01 enron evaluating whether pay quarterly dividend updatel bloomberg 11 29 01 enron europe says chosen administrator 2001 11 29 09 08 new york london nov 29 bloomberg enron corp european division said appointed administrator much business teesside power plant jointly owned innogy plc enron direct activities part u accounting firm area oversight said enron europe spokesman alex parson enron derivatives debt reveal market risk nyt says 2001 11 29 07 32 new york houston nov 29 bloomberg enron corp derivatives trading liabilities end september 18 7 billion although nobody sure much money energy related derivatives markets risk enron fails new york times reported liabilities amount money would owe market players filed bankruptcy slightly june levels 1 3 billion less end last year paper said numbers take account unknown amount collateral enron may posted paper said citing swaps monitor president paul spraos collateral principle diminish enron actual liabilities said energy swap company enters contract lock fixed price certain commodity like natural gas electricity company assumes risk future price changes quotes fixed price includes profit nyt 11 29 c 7 web site new york times see nyti enron board compromised financial ties updatel 2001 11 29 08 10 new york enron board compromised financial ties updatel updates sixth paragraph details cash crunch adds details credit ratings cut new york nov 29 bloomberg enron corp plunged largest energy trader verge bankruptcy board directors whose independence undercut financial ties management according corporate governance experts enron gave seven 14 directors consulting contracts sales business donations non profit institutions according company public records recipients include three members enron audit committee responsible financial oversight lord john wakeham example former leader british house commons sits audit committee enron gave 72 000 year consulting contract john mendelsohn president md anderson cancer center houston also audit committee last five years enron chairman kenneth lay donated 567 900 cancer center get board clubbable looks like collegiality turning cronyism said allan cleveland counsel new hampshire retirement system enron shareholder enron based houston texas handled almost quarter natural gas electricity trades past seven weeks board presided 26 billion drop market value began company wrote 1 2 billion shareholder equity reported overstated earnings 586 million since 1997 enron shares fell company suffered cash crunch sought infusion capital agreed acquired dynegy inc houston based rival plan collapsed yesterday investors balked investing 1 5 billion prompting dynegy withdraw offer enron shares closed 61 cents responsibility corporate boards responsible protecting shareholder interests reviewing work top executives accomplish two thirds board independent management according council institutional investors represents pension funds council defines independent director person whose directorship constitutes connection corporation consulting contracts donations non profit organizations linked directors eats away independence said ann yergen council director research corporate governance standards established new york nasdaq stock exchanges say audit committee members independent enron board members including wakeham mendelsohn declined repeated requests interviews vance meyer company spokesman said enron could immediately respond questions regarding board compensation enron board met nine times 2000 member receiving annual compensation 79 000 cash stock every member attended least 75 percent meetings except ronnie chan chief executive hang lung group hong kong development business according company filings based enron proxy statements documents following relationships existed enron board members herbert winokur jr 57 managing partner capricorn investors l p holding company owns natco group inc maker oil gas production equipment enron board member since 1985 winokur serves executive committee chairs finance committee appointed special committee created look enron managed 2000 natco 370 294 sales enron subsidiaries 1 6 percent natco total sales compromising think anything 1 percent compromising said yergen council institutional investors enron said proxy statement believes terms sales less favorable terms similar arrangements third parties robert belfer 65 board since 1983 sits executive committee enron largest individual shareholder 8 5 million shares chairman chief executive belco oil gas corp operates office overlooking new york central park 2000 belco 32 million trade settlements 1 million option premiums enron trade resources corp enron subsidiary john urquhart 72 former general electric co executive sat board last may received annual consulting fee enron almost 200 000 year special adviser enron chairman mendelsohn 64 physician formerly head medicine memorial sloan kettering cancer center new york pioneered research controlling cancer chemistry tumor growth president george w bush short list head national institutes health since 1996 mendelsohn president md anderson cancer center part university texas health system donations mendelsohn joined enron board 1999 enron donated 221 650 cancer center lay foundation established wife linda ken lay family foundation donated 346 250 last five years enron foundation pledged 1 5 million new clinic charles lemaistre 77 headed andersen cancer center 18 years retiring 1996 enron board member 16 years member executive committee chairs compensation committee panel awarded lay 20 million year severance package renounced two weeks ago wendy gramm 56 held positions federal trade commission u office management budget chairman u commodity futures trading commission director regulatory studies mercatus center george mason university fairfax virginia married texas republican senator phil gramm last three years enron ken linda lay family foundation donated 50 000 university mercatus center according university records consulting fee wakeham 68 charted accountant self made millionaire became force government former u k prime minister margaret thatcher known mr fix target irish republican army bomb 1984 killed wife left buried rubble seven hours enron pays wakeham 6 000 month advise company european business enron audit committee poses particular problems according corporate governance experts committee composed wakeham mendelsohn gramm chan robert jaedicke retired stanford university business school dean paulo ferraz pereira brazilian banker wakeham gramm mendelsohn independent according corporate governance experts standards audit committee even want appearance conflict said charles drott forensic accountant testified expert witness bankruptcy business fraud cases involving companies delorean motor co lincoln savings loan association committee spread across globe wakeham london ferraz rio de janeiro chan hong kong question committee drott asked big sophisticated company like enron choose people swift descent enron rapid decline standard poor corp slashed credit rating eight levels month junk status centered dealings partnerships company used move assets debt company books many investors complained enron financial reports obscured partnerships businesses point impossible understand enron former chief financial officer andrew fastow led partnerships earned 30 million dealings enron company disclosed enron documents filed u securities exchange commission state board determined fastow participation partnerships would adversely affect interests enron documents also say board approved transactions involving partnerships brought lay enron executives went wrong enron said patrick mcgurn vice president institutional investor services evaluates board candidates institutional investors lot goes back board enron indian lenders may take power project update 2 2001 11 29 08 32 new york enron indian lenders may take power project update 2 adds comment idbi managing director ninth paragraph legal details starting seventh paragraph mumbai nov 29 bloomberg enron corp indian lenders may take 3 billion power venture salvage loans 2 billion energy trader files bankruptcy u enron may forced biggest chapter 11 reorganization history dynegy inc walked away rescue rating agencies cut enron 15 billion debt junk status shares almost worthless india dabhol power co one enron biggest asian gas power units mired accusations bribery exorbitant power tariffs lenders take control project said madhav godbole headed panel set resolve payment dispute dabhol power enron india unit maharashtra state electricity board sole customer buyers dabhol negotiate lenders enron owed 64 million bills 10 months overdue wants 1 billion 65 percent stake dabhol exits india tata power ltd bses ltd two bidders enron stake said price high supply power mumbai india commercial capital industrial development bank india country biggest lender state bank india among local lenders loaned 1 4 billion dabhol stake loans turn bad 600 million lent abn amro bank america corp overseas banks covered government guarantees indian bank loans cancellation notice enron may 19 issued six month notice canceling power sales electricity board deadline lapsed nov 19 mumbai high court early month stopped dabhol serving final termination notice dec 3 court move response suit filed indian lenders dabhol prevent canceling contract concerned loss making electricity board forced buy power plant making loan recovery difficult matter become extremely interesting india context dynegy pulling idbi chairman p p vora told reporters lenders earnings meet say matter court idbi alone lent dabhol 400 million indian lenders attend dabhol board meeting summit creditors held london tomorrow vora said without giving reason dabhol board meeting authorize k wade cline managing director serve termination notice discount enron stake dabhol may worth much less 1 billion seeking still potential buyers may find hard raise money need finish work plant construction contractors june stopped work expansion power plant paid since april expansion add 1 444 megawatts capacity existing 740 megawatt capacity 5 million tons year liquefied natural gas receiving terminal 95 percent complete buyers may get good price need 500 million complete project said pradyumna kaul activist campaigned dabhol eight years lot money project distress whose credibility lowest enron verge collapse awaiting response bses managing director r v shahi said waiting response lenders future course action came us project action depend approach bses set price would pay project shahi said reached stage yet tata power officials available comment equity value enron go helping potential buyers solve basic problem high cost power godbole said parties linked project make sacrifices reduce cost power dabhol power charges 2000 rose high 7 1 rupees 15 u cents kilowatt hour compared suppliers rates 2 81 rupees led electricity board default bills may stopped buying power dabhol saying expensive enron one first major companies enter india country economy opened foreign investment 1991 awarded contract build power plant 100 miles south mumbai without competitive bidding plant construction delayed two years public interest groups filed lawsuits project grounds power expensive state government reworked contract five months scrapping move sparked accusations company bribing politicians return contract charge denied parties enron bankruptcy would largest chapter 11 filing updatel 2001 11 29 08 46 new york enron bankruptcy would largest chapter 11 filing updatel updating instinet share price dividend payment washington nov 29 bloomberg enron corp may file bankruptcy protection biggest chapter 11 reorganization history forcing largest u energy trader liquidate billions dollars assets pay creditors dynegy inc yesterday abandoned proposed merger enron leaving houston based company burdened debt likelihood insolvency analysts said bankruptcy inevitable may come early today bankruptcy filing enron reported 61 billion assets would top texaco inc record 35 9 billion case filed 1987 chapter 11 protection enron officials could continue control company negotiating recovery plan creditors automatic stay u bankruptcy law would block debt collection efforts lawsuits actions company chapter 11 filing great thing cash starved company attacked sides said nancy rapoport dean university houston law center enron bankruptcy would affect thousands people including company 21 000 employees customers suppliers investors creditors court supervised recovery process would give enron chance change strategies fix mistakes might take years complete may end company liquidation addition energy trading operation enron operates nationwide gas pipeline system spanning 25 000 miles also owns portland general electric generates distributes power 725 000 customers pacific northwest company enron broadband services building global fiber optic communications network witches brew chapter 11 reorganization lets companies abandon onerous contracts unprofitable leases every bad business deal enron got walk away said peter chapman distressed debt investor also publishes newsletters high profile bankruptcy reorganizations goal chapter 11 recovery plan allows company pay creditors come bankruptcy plan typically must approved majority creditors representing two thirds company debts company would ask bankruptcy judge final approval recovery plan divides company value among various classes creditors hierarchy set u bankruptcy code secured creditors collateral backing claims paid ahead unsecured creditors bondholders suppliers financial advisers creditors companies large bankruptcies say chapter 11 recovery plan enron would particularly difficult produce host intangible assets combined morass contingent liabilities creating potential witches brew bankruptcy said jeff werbalowsky houlihan lokey howard zukin investment banking firm contacted advice enron bondholders enron shareholders likely lose investment chapter 11 case would last line get paid shares active pre market trading instinet gained 2 cents 63 cents plunging 85 percent yesterday company 6 4 percent notes mature 2006 unchanged 22 cents dollar traders said price notes yield 53 percent enron said morning evaluating whether pay declared dividend company scheduled pay 12 5 cent quarter dividend dec 20 black hole investors considering buying enron bonds debts major issue uncertainty surrounding company value forensic accountants get sort things know enron worth said gary hindes managing director deltec asset management llc black hole deltec investment enron hindes said enron bond prices reflect uncertainty company 6 4 percent bonds mature 2006 quoted 20 cents dollar 53 cents tuesday recovery enron creditors bankruptcy case may come lawsuits said russell belinsky investment banker chanin capital partners also approached advice enron bondholders lot juicy legal issues said belinsky potential targets include enron accounting firm officers directors said liability dynegy might face liability canceling purchase enron dynegy invoked terms buyout agreement gave right purchase enron natural gas pipeline takeover fell apart dynegy received right pipeline exchange 1 5 billion investment enron chevrontexaco corp owns one fourth dynegy enron might use bankruptcy prevent dynegy walking away buyout claiming ownership pipeline dynegy acquisition valued 23 billion proposed nov 9 collapsed bankers failed raise 1 5 billion enron needed operate deal completed lack funds credit downgrade contributed dynegy decision bankers led j p morgan chase co vice chairman james b lee tried two weeks raise cash enron needed investors turned heightened concern enron able pay debts three credit rating agencies yesterday cut enron credit rating junk status triggering acceleration company debt obligations unraveling enron unraveling began october said shareholders equity reduced 1 2 billion way company accounted outside partnerships created announcement prompted lawsuits investigation u securities exchange commission enron ended restating earnings almost five years shares plunged enron trading partners lost confidence company would cash pay bills trading partners mirant corp either demanded collateral trade restricted trading company situation dire said deltec hindes one going trade enron right could wind unsecured creditor tomorrow enron derivatives debt reveal market risk nyt says 2001 11 29 07 32 new york houston nov 29 bloomberg enron corp derivatives trading liabilities end september 18 7 billion although nobody sure much money energy related derivatives markets risk enron fails new york times reported liabilities amount money would owe market players filed bankruptcy slightly june levels 1 3 billion less end last year paper said numbers take account unknown amount collateral enron may posted paper said citing swaps monitor president paul spraos collateral principle diminish enron actual liabilities said energy swap company enters contract lock fixed price certain commodity like natural gas electricity company assumes risk future price changes quotes fixed price includes profit nyt 11 29 c 7 web site new york times see nyti powergen says exposure enron u u k material 2001 11 29 04 37 new york powergen says exposure enron u u k material london nov 29 bloomberg powergen plc u k electricity generator bought germany e ag said exposure enron corp material declined provide detail open trading positions company powergen trades daily u u k enron largest u energy trader said yesterday may file bankruptcy protection dynegy inc abandoned proposed merger company enron regular trading partner powergen u k u exposure said spokesman jonathan smith exposure managed within clearly defined risks material context overall size powergen operations rwe ag europe fourth biggest electricity company said today open trading positions enron corp amount much less 10 million euros 8 9 million enron collapse evokes memories old time bank run nyt says 2001 11 29 06 31 new york houston nov 29 bloomberg enron corp successful energy trading operation created largely unregulated financial business became something like bank took depositors money promised pay back floyd norris wrote column new york times negotiations dynegy inc revised takeover came efforts find 250 million 500 million enron assets could serve collateral new dynegy cash advance became clear even enron rescuer demanding collateral trouble finding times reported unlike banks enron federal deposit insurance reassure customers rumors spread trouble paper reported enron collapse reminder participants unregulated markets financial health must beyond doubt unregulated markets profitable market knowledge enron seemed yet prices visible value knowledge falls new regulation bring openness though also bring structures like clearing systems reassure traders need worry credit trade paper said nyt 11 29 al web site new york times see nyti rwe says open positions enron much less eul 0 mln 2001 11 29 03 13 new york rwe says open positions enron much less eul 0 mln essen germany nov 29 bloomberg rwe ag europe fourth biggest electricity company said open trading positions enron corp amount much less 10 million euros 8 9 million enron largest u energy trader said yesterday may file bankruptcy protection dynegy inc abandoned proposed merger company sad may lose important trader market said ralf schaefer spokesman rwe trading business financial losses rwe essen germany based rwe building trading activities last three years trades electricity natural gas coal european utilities seeking profit excess electricity output selling open market enron soared innovation fell debt scared away investors 2001 11 29 01 01 new york enron soared innovation fell debt scared away investors houston nov 29 bloomberg former enron corp chief executive officer jeffrey skilling bragged last year traditional energy companies exxon mobil corp doomed two years built business dominated 2 trillion market trading energy producing today enron sliding toward bankruptcy dynegy inc walked away takeover houston rival credit rating companies reduced enron 15 billion debt junk status enron shares almost worthless securities exchange commission investigating company finances chairman ceo kenneth lay friend president george w bush made short list secretary energy said would work retain employees needed trading certain businesses enron employs 21 000 people disaster said shareholder scott schermerhorn fund manager colonial management associates bankruptcy highly likely hubris reflected skilling boast paved way company disintegration analysts said enron asked shareholders accept reports 14 percent annual earnings growth even used bewildering series outside partnerships hedge risks move assets liabilities books accounting partnerships turned wrong investor confidence evaporated standard poor whose downgrade enron debt yesterday part proposed sale unraveling removed company index 500 stocks enron shares lost 99 percent 45 billion market value making worst performer index year world greatest company sign enron headquarters calls world greatest company several years many investors agreed enron shares rose 50 percent 1999 87 percent last year 2001 highly recommended analyst pick among p 500 companies enron high profile extended beyond wall street company accounted quarter u electricity natural gas trades year lay attended bush administration economic forum january vice president richard cheney sought advice energy policy enron political action committee employees gave almost 2 5 million federal candidates political parties last year 75 percent money going republicans according campaign finance records enron aligned texas energy exploration production money said glenn reynolds analyst creditsights inc know business risky strategy 1990 lay hired skilling became force behind company growth ripped away walls enron headquarters built trading desks transformed company regulated pipeline utility units business analysts say resembles hedge fund enron reported 1999 profit 893 million 40 1 billion revenue year enron expanded water utilities sewage treatment trading space fiber optic telecommunication networks shareholder lawsuits filed past month say business money losers start executives mislead investors junior executive europe dreamed idea 1999 internet trading site dealing paper plastics commodities addition usual natural gas electricity offerings site handled 50 billion transactions first six months 880 billion trades two years 60 percent company total enron tremendous appetite risk said peter fusaro president global change associates consulting enron first many markets would take long term contracts super aggressive hired type mba best schools learned energy business scratch investors dark unknown investors enron increased revenue coming sales power plants enron affiliated partnerships partnerships paid purchases selling bonds guaranteed enron result enron books showed increase cash sales decrease debt associated plants enron restatement finances earlier month showed much 3 9 billion quarter enron total long term debt shifted enron books affiliates skilling quit company august former enron chief financial officer andrew fastow fired last month company revealed fastow personally profited transactions conducted enron partnerships enron said cooperating sec probe enron market value near high late 2000 early year eight top enron executives including lay skilling sold company stock total 73 million 20 securities lawsuits alleging illegal insider trading filed company lay pledged provide information enron transactions starting third quarter earnings report oct 16 enron stunned analysts investors disclosure 1 01 billion losses investments businesses outside main trading operation fiber optics ventures azurix water sewage companies bankrupt company said rob plaza analyst financial advisers morningstar owns enron shares smoke mirrors enron centrica may write 43 mln enron fails updatel 2001 11 29 09 10 new york centrica may write 43 mln enron fails updatel adds detail contracts first paragraph shares fifth background sixth london nov 29 bloomberg centrica plc u k dominant natural gas supplier may write gas electricity contracts worth 30 million pounds 43 million enron corp goes business company agreed 10 year gas contract 1998 u energy trader may forced biggest chapter 11 filing history dynegy inc walked away rescue enron supplies u k company 5 billion cubic meters gas undisclosed amount power centrica working reduce trading exposure enron said regulatory news service statement event enron defaults contractual obligations remain confident ability supply customers centrica created 1997 spun british gas still makes sales supplying fuel customers u k meets 20 percent demand gas fields buys rest companies shares slough england based company fell much 4 25 pence 2 1 percent 202 75 lost fifth value year enron shares almost worthless enron provides gas centrica prices linked international petroleum exchange natural gas futures contract last week slough england based centrica agreed pay 62 3 million pounds stakes five natural gas fields north sea replace dwindling reserves enron evaluating whether pay quarterly dividend updatel 2001 11 29 08 44 new york enron evaluating whether pay quarterly dividend updatel adds background dynegy withdrawal third paragraph houston nov 29 bloomberg enron corp facing bankruptcy dynegy inc abandoned buyout largest energy trader said evaluating whether pay dividends common preferred stock next month enron scheduled pay quarterly dividend 12 5 cents share dec 20 dynegy yesterday withdrew purchase offer valued 23 billion stock assumed debt announced nov 9 bankers failed raise 1 5 billion enron needed operate acquisition completed credit rating companies lowered enron rating junk shares enron fell 3 50 85 percent 61 cents yesterday fallen 99 percent year dynegy fell 4 92 12 percent 35 97 companies based houston