enron mentions enron discusses credit line 1 billion 2 billion banks wall street journal 10 29 01 manager journal enron ran gas wall street journal 10 29 01 enron seeks additional financing new york times 10 29 01 global investing enron stock plunge deals heavy blow mutual funds financial times oct 29 2001 comment analysis enron flickers financial times 10 29 01 front page companies reportedly 1 2 bln usd afx ap 10 29 01 enron said seeking new credit lines american banker 10 29 01 usa enron talks 1 2 bln credit line wsj reuters english news service 10 29 01 japan japan teijin enron study coal fired power plant reuters english news service 10 29 01 enron teijin build power plant japan report says bloomberg 10 29 01 mighty enron strains scrutiny new york times 10 28 01 plumbing mystery deals enron new york times 10 28 01 investors seem ignore discouraging news new york times 10 28 01 enron asks banks credit stock slide ft reports bloomberg 10 28 2001 enron asks banks additional credit ft dow jones energy service 10 28 01 week review top stories oct 22 26 lockheed edges boeing contract los angeles times 10 28 01 devon energy makes building major lease houston chronicle 10 28 01 india press enron plans exit lng shipping jv dow jones international news 10 28 01 enron taps credit lines buy back 3 3 billion debt new york times 10 27 01 companies stock slides associated press newswires 10 27 01 enron decline continues los angeles times 10 27 01 enron taps credit line stock slides company says cash boost confidence houston chronicle 10 27 01 enron says microsoft breached contract houston chronicle 10 27 01 lose war new york times 10 27 01 city enron directors cash shares daily telegraph 10 27 01 india lenders meet enron dabhol nov 3 reuters english news service 10 27 01 enron sues microsoft breach contract move could block high speed service seattle times 10 27 01 enron discusses credit line 1 billion 2 billion banks jathon sapsford john emshwiller staff reporters wall street journal 10 29 2001 wall street journal al 0 copyright c 2001 dow jones company inc enron corp scrambling restore confidence finances negotiating banks new credit line 1 billion 2 billion likely close deal within days according officials familiar matter new credit line intended bolster enron financial condition head potentially devastating loss investor business confidence new credit would supplement existing lines largely tapped enron last week drew 3 billion increase cash reserves calm fears stock bond energy markets enron spokesman confirmed company negotiating new credit line said supply details houston based enron nation biggest energy trader principal nearly one quarter electricity natural gas trades favorite wall street company unfamiliar position convincing deeply concerned investment community despite difficulties finances remain sound confidence enron financial situation shaken enron earlier month announced 618 million third quarter loss disclosed 1 2 billion erosion shareholder equity related controversial transactions done entities connected chief financial officer andrew fastow last week enron replaced mr fastow said securities exchange commission looking transactions company consistently said transactions proper legal enron stock price fell friday 4 p composite trading new york stock exchange enron shares 95 cents 15 40 enron shares fallen 50 past two weeks 83 sept 18 2000 high 89 63 late last week enron tapped existing credit lines part money used redeem nearly 2 billion outstanding commercial paper short term corporate ious ron barone credit rating agency standard poor said believes enron getting bit resistance recently rolling commercial paper came due thus enron probably decided would easier simply redeem paper outstanding said enron spokesman yesterday said paying commercial paper still leaving company additional roughly 1 billion cash hand would give financial flexibility also last week credit rating agencies warned investors reviewing enron debt commercial paper ratings possible downgrade lower rating could hamper enron core trading businesses behind worries among agencies part loss investor confidence one rating companies fitch said report last week could impair enron financial flexibility access capital markets therefore impacting ability conduct business enron spokesman said yesterday company trading partners business enron essentially terms past significant change credit conditions said trading partners demanding significantly stricter terms enron would sign deteriorating confidence energy giant finances banks involved current negotiations including j p morgan chase co citigroup inc asking enron stricter covenants new credit line asked past one official said bankers involved company say goal new credit line show investment community enron meet commitments confidence company lost said one bank official involved negotiations new credit line confidence restored corporations enron size commonly establish credit lines demonstrate investment community case emergency access cash practice companies actually make use lines thus drawing credit lines providing immediate cash also illustrates pressure enron feeling copyright 2000 dow jones company inc rights reserved manager journal enron ran gas paul kedrosky 10 29 2001 wall street journal 22 copyright c 2001 dow jones company inc troubled enron corp long term capital management energy markets merely yet another mismanaged company whose executives read many press releases poor enron misunderstood questions another week chinese water torture financial releases beleaguered houston based energy concern year ago enron hottest hot tech stocks tanking enron shares gained 89 2000 even die hard enron skeptics many concede last year barnburner company earnings 25 revenues doubled bad considering company came decade ago 80 enron revenues came staid regulated gas pipeline business longer enron selling assets steadily partly fuelling revenues also expanding new areas 2000 around 95 revenues 80 profits came trading energy buying selling stakes energy producers stock market applauded move peak enron trading around 55 times earnings like cisco tropospheric valuation meager 2 5 times earnings market affords enron competitor duke energy enron management wanted new economy web based energy trader aggressive performers lucratively rewarded according enron chairman ceo ken lay company deserved valued accordingly conference early year told investors company stock trading much higher say 126 double price new economy motor stalled company president left strange circumstances rumors swirled enron machinations california energy markets investors pored enron weakening financial statements enron analysts must energy persistence talmudic scholars penetrate company cryptic financials effect enron troubles hiding plain sight warning poor financial disclosure way assess damage economy company trying make numbers analysts blithely concede really know enron made money good markets bad enron make money albeit worrisomely low return equity given capital required sometimes revenues came asset sales complex balance sheet transactions sometimes energy trading revenues difficult understand likely enron could next quarter enron financial inscrutability hid stranger stuff deep inside company filings mention ljm cayman l p private investment partnership according enron march 2000 10 k senior officer enron managing member ljm well puzzler ljm helping enron manage price value risk regard certain merchant similar assets entering derivatives including swaps puts collars phrase enron house hedge fund nothing wrong hedging positions volatile energy market crucial market maker enron executive managing benefiting hedging something else altogether especially enron executive company cfo andrew fastow severed connection ljm related partnerships july year left enron whirl confusion last week damage done stories paper since made clear mr fastow ljm partnership allegedly made millions conflict ridden board approved ljm enron relationship recently enron ended merry affair taking billion dollar writedown equity two weeks ago ljm wrong footed hedging analysts investors securities exchange commission left many questions answers fair suppose enron disclose ljm arrangement year ago saying erected chinese wall fastow ljm company bull market one paid much attention bad idea horribly conflicted relationship questioned strength wall matters enron hedged financings number look insufficient assets cover debt repayments due 2003 anything wrong mr lay refrain company current round entertainingly antagonistic conference calls remains seen least company shown terrible judgment heroic arrogance dismissal shareholders interests financial transparency enron board directors kind oversight motley collection academics government sorts retired executives exercised enron shareholders little seems time enron board proper investigation cleaned house perhaps neatly finishing mr kedrosky professor business university british colombia copyright 2000 dow jones section enron seeks additional financing richard oppel jr 10 29 2001 new york times page 9 column 4 c 2001 new york times company dallas oct 28 enron corporation still struggling reassure investors weather financial crisis complicated transactions involving former chief financial officer seeking 1 billion 2 billion additional financing banks industry official said today last week enron nation largest energy trading concern used 3 billion available credit lines spent 2 billion pay commercial paper obtaining even financing enron hoping convince investors energy trading firms face cash squeeze could lead trading partners refuse extend credit business enron board holding meetings telephone last two weeks monitor company financial situation held another meeting afternoon board meeting frequently announce actions appropriate enron spokesman said two weeks ago enron disclosed shareholder equity reduced 1 2 billion deals investment partnerships involving former chief financial officer andrew fastow ousted last week company also disclosed 1 billion separate write offs said last week securities exchange commission made inquiry financial accounting enron hopes maintain investment grade credit rating crucial ensuring energy traders continue business lately enron bonds trading prices like junk bonds two major credit rating agencies considering whether downgrade company rating copyright 2000 dow jones oct 29 2001 agencies agency material elizabeth wine enron shares plunged 40 per cent last week severe damage mutual funds company largest institutional ownership bloc havoc may continue 15 per cent 4 000 us equity funds held shares embattled company shares recent reporting period according fund tracker morningstar mutual funds held fifth enron shares percentage likely much lower say fund analysts suggest much stock halving october due large sales institutional holders janus growth fund specialist largest institutional shareholder according recent filings dated june 30 42 shares representing stake worth dollars 2 1 bn stake still held entirety would worth dollars 659 friday closing price dollars 15 40 enron shares dropped 95 cents 5 81 per cent friday taking total fall nearly 41 per cent last week concerns accounting questions limited partnerships created andrew fastow former chief financial officer friday several leading rating agencies put company debt credit watches enron bond prices plunged company stock 81 per cent since january fund managers including janus refuse discuss company actively trading however several mutual fund groups large enron stakes said listed positions dated implying funds positions company changed morningstar analyst christine benz follows janus funds said managers group larger funds lightening enron holdings year said blaine rollins manages dollars 23 bn flagship janus fund said september sold stake listed 2 15 per cent outstanding shares april 30 say ken zschappel manager dollars 11 bn aim constellation fund also declined discuss holdings listed 0 27 per cent outstanding shares march 31 aim said position since trimmed substantially top fund owners recent filings included alliance premier growth fund janus twenty janus mercury janus growth income funds fidelity magellan axp new dimensions fund putnam investors putnam voyager putnam new opportunities funds morgan stanley dividend growth fund copyright financial times limited comment analysis enron flickers simon london sheila mcnulty 10 29 2001 financial times c 2001 financial times limited rights reserved comment analysis enron flickers paragon new economy us energy group scrutiny opaque accounting free wheeling management write simon london sheila mcnulty enron explaining past decade texas based company basked admiration investors business school professors eager understand transformation staid utility fast growing energy trader faces scrutiny unwelcome kind share price falling since beginning year us securities exchange commission investigating multi million dollar deals private equity fund associated chief financial officer resulted 1 2 bn reduction shareholders equity hastily convened conference call last week analysts raised many questions answered related party transactions departure andy fastow aforementioned cfo soon followed credit rating review two leading ratings agencies enron also forced draw bank credit lines yesterday confirmed trying establish additional lines liquidity marks end enron walk wild side observes curt launer analyst credit suisse first boston investment bank surface events enron explained combination deteriorating trading conditions complex capital structure poor investor relations root causes go back entrepreneurial culture dynamic management fuelled enron growth 1990 appear also sown seeds present crisis therein may lie cautionary tale executives trying sprinkle new economy magic old economy companies enron transformation began earnest 1990 arrival jeffrey skilling hired mckinsey management consulting firm develop energy trading previous decade enron emerging force deregulating us energy markets guidance kenneth lay former deputy secretary energy mr lay remains chairman mr skilling spearheaded move trading energy well generating supplying two sides business trading generation supply always strange bedfellows former demands entrepreneurial spirit likely found wall street utility mr skilling answer early 1990 bring talent outside company one first recruits mr fastow expert securitisation repackaging financial assets traded financial markets energy trading division tried start differentiate management structure introduced four layers vice president director manager associate analyst much like consulting firm employees free take much holiday liked long delivered results one mr skilling early recruits recalled creating atmosphere deliberately breaking rules seemingly free wheeling style based loose tight management model expounded tom peters bob waterman management writers mckinsey alumni enron meant employees merchant energy business encouraged huge bonuses pursue new ideas innovate existing markets coming employees moved freely projects pursuit glory louise kitchen 32 year old british executive creative force behind enron online group internet based trading platform changed jobs promoted seven times five years balancing loose management practices tight central control risk legal commitments finance performance evaluation remuneration mr skilling described approach way long clear deals business ideas screens whatever want around approach deliver growth innovation well making markets core energy products enron trades everything weather derivatives enable companies insure unfavourable climatic conditions broadband telecommunications capacity metals success enron online allows group describe world leading e commerce company also started marketing electricity us consumers joint venture international business machines america online internet service provider february year mr skilling got reward became chief executive group ranked seventh fortune magazine list 500 powerful us corporations ahead corporate giants ibm bank america boeing retrospect however breakneck pace growth innovation achieved price first personal cost mr skilling august abruptly resigned six months top job personal non health related reasons cited investors received explanation second cost enormous increase financial complexity order avoid ballooning assets liabilities group expanded enron used range balance sheet vehicles help finance expansion ljm private equity fund mr fastow played role one cast characters found footnotes enron accounts financing vehicles include osprey marlin whitewing atlantic water trust azurix went many things quickly says stephen moore moody investors service credit ratings agency third cost associated last loss financial transparency group extensive use swaps options derivative financial instruments merchant energy business means investors little idea enron actually makes money underlying risks exposed david fleischer analyst goldman sachs summed views many investors last week conference call told group management company credibility severely questioned need much disclosure appearance hiding something something going beneath surface may questionable fourth cost loss strategic focus problems view stem enron venturing aggressively areas outside core skills argues raymond niles analyst salomon smith barney power plants india water companies extension franchise mass retail market using fibre optic network deliver content internet unrelated tangentially related core merchant energy business enron executives also appeared get carried away prospects ventures time last year mr skilling arguing enron broadband business worth 35 bn 24 bn right helped push share price time highs storing trouble trading volumes failed materialise promised new business created says chris bartlett professor harvard business school long time watcher company enron trying ride dotcom bubble enron online broadband business extent paying price enron weather storm notwithstanding risk blue financial shocks analysts believe merchant energy business remains powerful profitable mr niles salomon smith barney points side group drives 80 per cent earnings shown consistent 30 40 per cent annual growth past three years assets totalling 4 bn also earmarked disposal current crisis erupted underlining plenty realisable value within group portfolio physical energy assets yet doubts remain ultimately question confidence credibility investors suspect balance loose tight management methods tilted far towards former mr lay team tighten c copyright financial times ltd rights reserved http www ft com copyright 2000 dow jones company inc rights reserved front page companies markets enron asks banks additional credit sheila mcnulty gary silverman 10 29 2001 financial times c 2001 financial times limited rights reserved enron troubled us energy group attempting yesterday persuade banks provide additional credit bolster position sharp fall share price houston based company also due last night hold special board meeting consider confidence building measures surprise financial disclosures damaged reputation among us investors last week company raised 3 3 bn euros 3 7 bn cash bolster financial position enron admitted yesterday still looking additional finance company insisted however good financial health core energy trading business remained strong mark palmer enron spokesman said hoped company would something announce coming days latest effort establish additional lines liquidity able get liquidity position shored put lot fears unknown rest mr palmer said company problems become public since announcement october 16 would take 1 01 bn special charge write shareholders equity another 1 2 bn moves followed losses arising private equity operation run andrew fastow former chief financial officer forced take leave absence last week enron share price fallen 50 per cent since october 16 announcement bonds trading levels technically junk status though official ratings still investment grade concern reduction debt rating could impair ability operate trading marketing operations said raymond niles salomon smith barney activities require least investment grade credit rating enron could subject increase margin requirements controversy enron balance sheet adjustment resulted request information securities exchange commission enron flickers page 22 c copyright financial times ltd rights reserved http www ft com copyright 2000 dow jones company inc rights reserved enron seeks credit reassure investors wsj says 2001 10 29 04 30 new york houston oct 29 bloomberg enron corp largest energy trader asked banks provide credit line much 2 billion bid restore investor confidence company wall street journal reported citing unidentified officials close negotiations new credit line additional 3 3 billion credit line tapped last week paper said completed within days investors shunned company since oct 16 enron reported third quarter loss 618 million wrote shareholders equity another 1 2 billion journal said stock fallen 54 percent since announcement company shares dented investor sued enron last month saying dealings two partnerships run former chief financial officer andrew fastow cost company 35 million suit also called fastow leadership partnerships set cut enron debt conflict interest usa repeat electric cowboys get roped energy corral janet mcgurty 10 29 2001 reuters english news service c reuters limited 2001 new york oct 26 reuters last year enron corp darling investors analysts freewheeling trader electricity natural gas faces credibility crisis due lack transparency business dealings enron trying shake investor jitters possible downgrade credit worthiness unease company complex financial transactions seen shares shed half market value past week largest natural gas electricity marketer united states alone getting wings clipped energy prices come market volatility drove earnings last year eases enron problems differ traditional utilities many power producers returning roots scrapping plans splitting operations questioning whether risky overseas operations supported lower prices brought slowing economy paul patterson energy analyst abn amro said common themes affecting industry one lower power prices margins associated two lower stock prices ability finance asset driven growth patterson said earnings fall forward earnings guidance revised downward power companies seeking strategies address bleaker environment plans spin units postponed called shares enron slid 1 05 6 4 percent 15 30 afternoon trade new york stock exchange friday world changed aes corp global power producer whose earnings fell second consecutive quarter poor showing operations brazil britain said thursday would revamp organization rule selling assets different place aes chief executive officer dennis bakke said business climate facing utilities today compared last year powerful growth friday constellation energy group parent company baltimore gas electric scrapped plans split power generation trading operations two company economic changes constellation also hired new chief executive severed ties goldman sachs planned make equity investment company utility industry energy markets indeed entire u economy changed considerably past year combined company better positioned seize opportunities grow deliver said christian poindexter constellation chairman return traditional values bakke said one prong aes brave new world scenario renewed emphasis traditionally profitable long term contract generation business makes sense power generating companies sign 75 percent 80 percent generating capacity long term contracts provides stability level profitability period flat growth according gordon howald energy analyst credit lyonnaise calpine already said referring california based independent power producer lion share power generates contracted drove valuations companies last year power markets inefficient physical reserve margins low flat demand 2001 appears case little lead us believe power prices anywhere near level added howald said new generation coming natural gas prices remain high power prices come squeezing spark spreads profit margins solely gas fired companies smaller companies also rethink strategies lower power prices impact earnings many power companies turning back u markets try maximize bottom line earnings quarter big deal big deal 2002 going earn much people expected downward revision earnings guidance said patterson michigan based cms energy corp cut earnings estimates second time 2 2 05 2002 2 79 said would sell certain overseas assets focus future growth primarily north america cms whose earnings third quarter said took charge planned divestitures south american energy distribution units well international investments allegheny energy inc also changed strategy reporting fall third quarter earnings maryland based company said continuing work towards getting necessary regulatory approvals initial public offering hold unregulated assets proceed offering time company integrated market conditions demonstrated value created shareholders allegheny said copyright 2000 dow jones reportedly 1 2 bln usd 10 29 2001 afx ap copyright 2001 afx news source world reporter tm new york afx enron corp negotiating banks new credit line spokesman told wall street journal company talks raise 1 2 bln usd likely close deal within days quoted officials familiar matter saying deal intended head potential loss investor business confidence would supplement existing lines largely tapped enron last week drew 3 bln usd increase cash reserves calm market fears enron earlier month announced heavy third quarter loss erosion shareholder equity related controversial transactions done entities connected chief financial officer andrew fastow jms information contact afx www afxnews com www afxpress com copyright 2000 dow jones company inc rights reserved markets enron said seeking new credit lines laura mandaro alissa schmelkin 10 29 2001 american banker 31 copyright c 2001 thomson financial inc rights reserved texas energy telecommunications giant enron corp reportedly negotiating lenders new credit lines friday day drew billions existing lines j p morgan chase bank one corp 100 million wachovia corp suntrust banks inc fleetboston financial corp 50 million according goldman sachs estimates bank new york 50 100 million exposure northern trust u bancorp keycorp also lending exposure ms applebaum said representatives banks would comment relationships enron return phone calls deadline http www americanbanker com copyright 2000 dow jones company inc rights reserved usa enron talks 1 2 bln credit line wsj 10 29 2001 reuters english news service c reuters limited 2001 new york oct 29 reuters energy trading giant enron corp negotiating banks new credit line 1 billion 2 billion could close deal within days wall street journal reported online edition monday according officials close situation new credit would supplement existing credit lines largely tapped company drew 3 billion last week increase cash reserves calm jittery investors fears journal reported paper said enron spokesman confirmed company negotiating new credit line could supply details confidence enron shattered following disclosures involvement complex partnerships stock tumbled amid u securities exchange commission inquiry company ousted chief financial officer links partnerships copyright 2000 dow jones company inc rights reserved japan japan teijin enron study coal fired power plant 10 29 2001 reuters english news service c reuters limited 2001 tokyo oct 29 reuters japan major polyester manufacturer teijin ltd said monday would conduct feasibility study u energy giant enron corp building coal fired power plant teijin said statement e power corp japanese affiliate enron corp would look building 70 000 kilowatt coal burning thermal power plant matsuyama ehime prefecture southwestern island shikoku teijin polyester plant beginning consider selling surplus power third parties plants eyes deregulation japan power market teijin spokesman said japan process deregulating power market since march last year large lot consumers free choose suppliers polyester business teijin expanded overseas output reducing domestic production trend would leave surplus power thus looking make good use surplus two firms also considering expanding capacity teijin existing power generator matsuyama teijin said hopes reduce costs inefficient small plant help enron enron corp said earlier year presented plans build liquefied natural gas lng fired power plant northern japan aiming become first foreign company build power plant japan teijin spokesman said two firms hoped conclude feasibility study june 2002 teijin shares ended day 13 yen 2 68 percent 472 yen copyright 2000 dow jones section 3 mighty enron strains scrutiny alex berenson richard oppel jr 10 28 2001 new york times page 1 column 2 c 2001 new york times company time running enron beginning year enron corporation world dominant energy trader appeared unstoppable company decade long effort persuade lawmakers deregulate electricity markets succeeded california new york ties bush administration assured views would heard washington sales profits stock soaring leadership jeffrey k skilling chief executive enron arrogance grown even quickly company based houston dripped contempt regulators consumer groups stood fully deregulated markets electricity water everything else everyone would win deregulation enron said especially shareholders whose stock would soar company profited creating new markets side angels mr skilling said march dismissing saw company profiteer california energy crisis people want open competitive markets want fair competition american way less year later everybody seems lost especially enron investors enron stock plunging questions finances mounting experts energy industry worry crisis company worsens trading natural gas electricity could seriously disrupted energy prices could grow volatile worst case outlook enron could become 2001 version long term capital management huge hedge fund whose collapse roiled financial markets fall 1998 enron shares fallen 80 percent year erasing 50 billion shareholder value enron closed friday 15 40 95 cents hitting 52 week low 15 04 earlier day future electricity deregulation doubt thanks blackouts soaring power prices california earlier year crisis ended state contradicted deregulation basic tenets intervening deeply power market enron efforts become profit making water supplier create new market broadband communications capacity expensive failures august mr skilling quit forcing kenneth l lay predecessor chief executive still enron chairman resume day day control company company declined make senior executives including mr lay available comment asked questions submitted writing mr skilling could reached enron problems boiled earlier month disclosed shareholders equity measure company value dropped 1 2 billion last quarter deal disclosed hazily enron regular financial statements securities exchange commission looking company financial reporting investors question whether enron overstated profits primary business trading electricity natural gas slump company shares accelerated enron revealed fall shareholders equity wednesday company forced chief financial officer andrew fastow center controversy enron confusing finances company six months ago seemed reaping billions dollars california energy crisis today faces potential cash crunch surprise shareholder equity inflamed investors smoldering concern enron opaque financial statements wall street analysts bond rating agencies demanding information complex transactions fueled company profits enron reduced issuing news releases assuring investors adequate access cash enron appear immediate danger running cash thursday company drew 3 3 billion credit line previously arranged group banks led citigroup j p morgan chase extended least 400 million enron importance natural gas electricity markets industry experts say problem company could disrupt energy trading nationwide supply natural gas electricity would probably affected even company failed enron mainly trader rather producer energy crisis company might increase volatility energy prices swung wildly last year philip k verleger jr energy markets economist emphasized thought enron would survive crisis said clear would happen enron ran cash traders use company enrononline internet trading marketplace defaulted obligations suddenly positions taken good firm hedges good situation mr verleger said got everyone scared short run enron credit rating may biggest problem company rating falls investment grade enron could forced issue tens millions shares stock cover loans guaranteed creating new shares would make shares already exist less valuable shares would longer represent full ownership company drop company credit rating could also prompt energy traders producers back away business enron hurting company sales profits enron credit rating stands several notches critical point bonds publicly traded fallen low offering interest rates almost 10 percent comparable many junk bonds two three major credit rating agencies moody investors service fitch investors service put enron bonds review possible downgrades issue front everybody mind right credit said mark gurley senior vice president general manager trading aquila inc one nation largest energy traders aquila based kansas city mo aquila major energy traders producers including reliant energy el paso corporation dynegy continuing business enron mr gurley said enron trading electricity natural gas markets suggest sort frenzied selling reminiscent collapse long term capital management 1998 done anything trading wise gives indication closing books said still executives companies said looking carefully transactions enron especially long term contracts also said risk management credit officers calling regularly discuss situation mark palmer enron spokesman said friday energy trading company stopped business enron declined say whether company trading partners suspended altered credit terms said company continuing see normal volumes business crisis enron face credit rating downgraded symptom bigger problem company must confront years details enron finances mystery even wall street analysts whose job follow company investors stock bonds enron profits soaring creating lucrative new markets shareholders seem care impenetrability financial statements yet company seems incapable offering straight answers questions investors ask others industry opaqueness company financial statements parallels enron efforts keep energy trading business lightly regulated free disclosure requirements though expect enron crumble like long term capital management say like giant hedge fund enron uses lot debt regulatory oversight limited outsiders difficult time figuring finances pressing concerns series partnerships trusts enron created move assets debt balance sheet names like marlin osprey partnerships least 3 3 billion bonds outstanding backed assets like stake azurix enron water company subsidiary enron promised partnerships debts exceed value assets enron issue enough new shares make difference deals partnerships formed mr fastow chief financial officer organized led 1 2 billion write shareholders equity enron announced last week company offered skimpy details transactions partnerships enron ended relationships partnerships last quarter criticized shareholders process wrote promissory note carried books reducing shareholders equity 1 2 billion complex accounting rules transaction apparent enron quarterly earnings report transaction disturbs investors suggests enron may found way hide losses throwing accuracy financial statements question enron released third quarter earnings oct 16 reported loss 1 billion write offs failed investments earnings statement mention additional 1 2 billion equity write company said core business solidly profitable shares rose conference call analysts announcement mr lay enron chairman also disclosed reduction shareholder equity reference brief one however listeners catch analysts angered found next day enron done many confused accounting procedure enron stock began slide investors clamored information write far company efforts clear situation unnerved investors mr lay met investors last two weeks try explain deals wall street say come away doubts mr lay grasp situation say two people enron appear knowledgeable deals mr skilling mr fastow left company interview late august mr lay said know details deals involving mr fastow response one question said getting way head mr palmer enron disputed suggestion mr lay grasp investments issue saying mr lay handicapped talking e c investigation whole lot say say mr palmer said also said company expected generate 3 billion cash asset sales end next year conference call tuesday analysts pressed mr lay top enron executives reveal information ljm write partnerships instead offered vague explanations deal leaving wall street worried write offs might coming david fleischer goldman sachs analyst longtime supporter company among came away concerned enron unable clarify balance sheet transactions restore confidence near term assuring investors surprises forthcoming would affect balance sheet liquidity position company likely lose access capital markets wrote research note call try reassure investors enron said late thursday enrononline internet based trading exchange executed 8 400 trades day higher normal volume know work cut us rebuild credibility investment community working mr lay said statement meantime best evidence strength willingness customers bring business enron reassurances apparently longer enough wall street enron stock tumbled almost 6 percent friday lowest levels six years analysts scrambling figure extent enron balance sheet debt assess risk company issue new shares make good partnership guarantees carol coale analyst prudential securities houston calculates enron may close 9 billion balance sheet debt said enron two years trying sell 6 billion foreign assets including properties latin america power plant india embroiled dispute state government worries prospects sale light enron problems souring economy enron forced sell assets keep ratings agencies backs may write assets ms coale said wednesday downgraded rating enron sell neutral bottom line really difficult recommend investment management disclose facts ms coale said short sellers attacked enron accounting even company disclosed write say company problems may run even deeper analysts fear enron may used partnerships finance money losing investments hide losses core trading business say company still disclosing enough know whether core business trading business profitable said mark roberts director research wall street recommended shorting enron stock may 7 stood 59 43 issue remains transactions theory core operations profitable james chanos leading short seller bet enron stock fall said enron booking gains real profits hiding losses deals go mr palmer enron said company stood reported energy trading profits even traders energy companies say clear picture enron positions enron maintains danger wiped sharp move electricity gas prices keeps trading book balanced meaning energy agreed sell offset roughly equivalent amounts energy agreed buy guys tell us got word hedged said mr verleger economist fact enron lobbied forcefully years limit regulation disclosure trading operations last year company successfully lobbied congress effectively ensure internet trading platform would exempted regulation commodity futures trading commission enron power traders file limited information reports federal energy regulatory commission agency oversees wholesale electricity natural gas markets commission keep track specific transactions prices large scale energy trading existed half dozen years enron pioneered business dominates accounting one quarter trading united states congress federal regulators opened market wholesale electricity process began earnest decade ago power business simpler affair utilities given areas monopoly service rates ability deliver enough electricity overseen state regulators move deregulate business independent unregulated generators traders flourished providing ever growing portion nation power beginning 1980 sale transportation natural gas also deregulated spurring enron used primarily gas pipeline company move trading business company shift trading gas electricity accelerated mid 1990 ascension mr skilling became chief executive february six months unexpected resignation underscoring change direction securities filings year enron described principal business security brokers dealers flotation said business wholesale petroleum petroleum products ascent enron reported outstanding profit figures wall street accepted pleasure year ago disclosed first transactions partnerships led mr fastow company former chief financial officer analysts asked questions told deals routine disclosed mr fastow involvement enron appear face immediate cash crunch bank credit lines drew last week pay short term debt renegotiated next spring controversial partnerships pay debts following year unless enron loses investment grade credit rating enron also need maintain large trading positions could suffer participants markets grow nervous enron credit long term capital stumbling 1998 wall street rivals sold securities thought long term owned trying force long term sell positions quickly loss something similar energy markets might possible enron might find long term positions offset enron new chief financial officer may yet persuade investors fact company profits real condition better short sellers believe questions answered confidence share price could rebound investors skittish competitors eager take advantage enron plight photos enron building new headquarters houston grew deregulation deregulation doubt enron stock dropped phillippe diederich new york times enron owns 65 percent power plant dabhol india trouble collecting payments new york times pg 13 know work cut us says kenneth l lay enron chief wgbh frontline pg 1 chart enron board directors addressed company current difficulties spokesman said kenneth l lay 58 chairman john h duncan 73 former chairman executive committee gulf western industries robert belfer 65 chairman belco oil gas charles lemaistre 77 president emeritus anderson cancer center university texas robert k jaedicke 72 professor emeritus graduate school business stanford ronnie c chan 51 chairman hang lung group wendy l gramm 56 director mercatus center george mason university john mendelsohn 64 president anderson cancer center university texas paulo v ferraz pereira 46 executive vice president group bozano john wakeham 68 former british secretary state energy norman p blake jr 59 chief executive comdisco ken l harrison 58 former chief executive portland general electric former enron employee jerome j meyer 63 chairman tektronix frank savage 62 chairman alliance capital management international john urquhart 72 adviser chairman enron herbert winokur jr 57 president winokur holdings former enron employee pg 13 copyright 2000 dow jones section 3 plumbing mystery deals enron floyd norris 10 28 2001 new york times page 13 column 6 c 2001 new york times company heart sudden collapse investor confidence enron corporation unusual trades entered partnerships led chief financial officer andrew fastow beginning summer 1999 transactions among related parties company required disclose disclosures raised many questions answered following questions investors asking currently available answers q enron enter deals enron first disclosures 1999 gave reason later reports said seeking hedge certain merchant investments assets apparently meant investments technology telecommunications companies q investments looks plunged value although clear disclosure q discerned company never said investments transactions partnerships complicated involving variety derivative securities enron stock various promissory notes enron financial disclosures provide enough information understand arrangements completely q complicated one reason may use accounting rules advantage one accounting rule dictates companies may record profits losses transactions stock company sells shares 10 buys back whether 1 50 gain loss shareholder equity go balance sheet case reflecting much extra cash company took paid transactions enron transactions appear structured fall rule q made money transactions enron reported profits along way deals although profits spelled quarterly filings appears partnerships distributed money investors q deals began 1999 uproar many investors analysts curious everything seemed going well long enron exceeding forecasted profits quarter willing assume disclosed really important q concerns raised enron complaints grew enron share price fell earlier year summer enron decided mr fastow would sell stake partnerships partnerships would longer considered related enron company would longer disclose anything transactions investors still worried enron later closed deals partnerships q enron badly took 35 million loss given size transactions involved previous profits taken much also reduced shareholder equity 1 2 billion q happen like much else clear looks partnership owed enron much money could pay let hook enron return enron terminated previously recorded contractual obligations deliver enron shares future periods enron treated like share buyback even though shares question issued determined need treat loss would reduce reported earnings q legal accounting rules presumably enron limited disclosures make impossible say sure enron may discovered ways use accounting rules enable keep losses income statements leaving profits may become clearer securities exchange commission begun preliminary inquiries completes work floyd norris copyright 2000 dow jones section 3 databank investors seem ignore discouraging news michael brick 10 28 2001 new york times page 17 column 3 c 2001 new york times company investors sent stocks markedly higher last week despite reports economy corporate profits resoundingly poor dow jones industrial average strengthened triple digit rallies monday thursday ended week nearly back level sept 10 one day attacks world trade center pentagon broader indicators ended slightly higher sept 10 investors overcame initial discouragement reports orders durable goods sales existing homes deteriorating faster expected also seemed unfazed reports corporate profits declining year ago companies 30 percent bad news investors seemed surmise meant government likely act aggressively stimulating economy tax breaks spending lower interest rates dow average gained 341 06 3 7 percent close 9 545 17 nasdaq composite index rose 97 65 points 5 8 percent 1 768 96 standard poor 500 stock index rose 31 13 2 9 percent 1 104 61 michael brick charts stocks news enron nyse ene energy trading company ousted chief financial officer andrew fastow whose involvement complicated transactions enron caught attention e c friday close 15 40 week change 40 88 est 01 p e 8 52 sbc communications nyse sbc company posted 30 percent decline earnings said would cut thousands jobs weak economy strong competition friday close 39 20 week change 10 17 est 01 p e 16 82 walt disney nyse dis trimming 100 million price disney completed purchase fox family worldwide cable television operation deal included 2 9 billion cash 2 3 billion assumed debt friday close 18 71 week change 1 19 est 01 p e 25 28 microsoft nnm msft microsoft introduced computer operating system windows xp latest version flagship product friday close 62 20 week change 7 43 est 01 p e 33 88 vysis nnm vysi drug maker abbott laboratories agreed acquire vysis laboratory products maker stock deal worth 355 million friday close 30 25 week change 47 13 est 01 p e worldcom nnm wcom long distance telephone company posted 44 percent drop third quarter profit warned sales growth core data internet business would slow final quarter 2002 friday close 13 38 week change 1 59 est 01 p e 12 15 affymetrix nnm affx affymetrix settled patent lawsuit dna analysis technologies rival hyseq companies plan form joint venture friday close 31 70 week change 72 66 est 01 p e overture services nnm internet search service formerly called goto com reported profit third quarter higher sales pay per listing service remained popular advertisers friday close 25 50 week change 32 88 est 01 p e source bloomberg financial markets copyright 2000 dow jones company inc rights reserved enron asks banks credit stock slide ft reports 2001 10 28 20 20 new york houston oct 28 bloomberg enron corp largest energy trader asked banks provide credit tapping 3 3 billion credit line last week bolster investor confidence financial times reported citing company sources enron stock fallen 50 percent since oct 17 investor sued company conflict interest transactions affiliates run enron former chief financial officer andrew fastow company shut leading market low interest short term loans since announcing oct 16 would take 1 01 billion special charge write shareholders equity another 1 2 billion ft said enron spokesman mark palmer said hoped company would announce new financing facility coming days newspaper said enron asks banks additional credit ft 10 28 2001 dow jones energy service copyright c 2001 dow jones company inc new york dow jones enron corp ene attempting persuade banks provide additional credit financial times reported web site sunday company also due hold special board meeting sunday consider confidence building measures surprise financial disclosures damaged reputation among u investors financial times reported financial times quoted enron spokesman mark palmer saying hoped company could something announce coming days result latest effort establish additional lines liquidity able liquidity position shored put lot fears unknown rest financial times quoted palmer saying copyright 2000 dow jones financial desk week review top stories oct 22 26 lockheed edges boeing contract abigail goldman joseph menn jesus sanchez jeff leeds chuck philips meg james nancy rivera brooks evelyn iritani james f peltz myron levin peter pae 10 28 2001 los angeles times home edition c 2 copyright 2001 times mirror company vote lockheed martin corp coveted right build nation next generation fighter aircraft beating boeing co could biggest military contract ever culminating five year battle two world largest defense contractors pentagon officials picked lockheed martin begin development joint strike fighter plans purchase 3 000 planes cost 200 billion potential foreign sales topping another 200 billion contract considered lucrative u history really contract millennium said christopher hellman analyst center defense information nothing come close peter pae ford settles lawsuit faulty part largest automotive class action settlement history ford motor co reimburse customers paid hundreds millions dollars replace faulty part caused vehicles stall uncertain many consumers would qualify reimbursements range 160 apiece settlement caps six years litigation plaintiffs lawyers said cost ford would high 2 7 billion myron levin amr posts record loss quarter even though americans flying airline industry continues reel problems expected worsen holiday season amr corp parent american airlines world largest airline posted record loss third quarter even getting 508 million federal financial aid although number passengers kept growing week since sept 11 attacks 20 fewer people flying less month busy thanksgiving weekend american airlines says advance bookings november 6 year earlier meanwhile airlines reporting little noticed aspect government rescue package pay federal taxes cash grants james f peltz itc says imports hurt steel industry international trade commission ruled foreign imports pose serious threat domestic steel industry paving way punitive sanctions likely raise steel prices intensify trade tensions europe asia independent u agency mid december provide white house list proposed remedies could include import quotas hefty tariffs foreign steel beleaguered u steelmakers applauded decision president bush instigated itc investigation expected approve protective measures though critics warn could harm weakened domestic economy complicate efforts launch new round global trade talks evelyn iritani shares enron plummet amid losses enron corp stock pummeled investors following disclosures losses shrinking shareholders equity related failed investments complicated hierarchy limited partnerships used shelter enron assets stock slide compounded disclosure securities exchange commission inquiry two partnership arrangements wall street worries future cash flow credit problems might caused investment vehicles two conference calls analysts investors failed calm nerves several analysts lowered recommendations enron enron reiterated finances strong although analysts note enron core businesses remain sound analysts doubt usually taciturn company revealed problems mollify investors enron replaced chief financial officer recently headed two partnerships sec eyeing nancy rivera brooks pentagon oks northrop bid newport news northrop grumman corp assured winning bid acquire newport news shipbuilding inc pentagon endorsed deal justice department citing antitrust concerns blocked rival bid general dynamics corp marked stunning turn events northrop got nod acquire virginia builder nuclear submarines aircraft carriers despite underdog los angeles based defense contractor made unsolicited offer newport news shipbuilder inked 2 1 billion deal general dynamics separately northrop said third quarter earnings fell 22 large drop pension fund investments peter pae hollywood production jobs fall 4 year low skittishness following sept 11 terrorist attacks exacerbated already slow season hollywood pushing employment movie television film industry four year low september state statistics show cutbacks delayed projects major studios trickled industry leading spate layoffs small companies provide equipment services industry meg james grammy officials urge greene settlement high ranking officials grammy organization recommended settlement half million dollars resolve sexual assault battery allegations nonprofit group chief executive c michael greene grammy sources said proposed settlement subject approval group board directors ignited internal revolt least dozen 41 trustees privately calling greene firing sources said greene declined comment attorneys grammy nonprofit group previously denied greene assaulted sexual contact jill geimer grammy executive threatened sue greene alleged misconduct chuck philips emi ousts record label executive nancy berry british music conglomerate emi group sacked nancy berry vice chairwoman worldwide virgin records division berry exit came week london based record company ousted global record chief ken berry nancy berry former husband shake follows dispiriting period emi including disastrous sales debut pop icon mariah carey suffered nervous breakdown months signing 80 million contract company year nancy berry spearheaded elaborate marketing campaign carey album glitter sold fewer 400 000 copies since sept 11 debut jeff leeds management buyout g l realty approved stockholders g l realty corp approved management led buyout real estate investment trust despite higher offer rival group concerns deal unfairly favors top executives company co chairmen daniel gottlieb steven lebowitz plan take small beverly hills based company private majority shareholders backed 12 share offer management led offer triggered shareholder lawsuit year claimed g l board breached fiduciary duty jesus sanchez internet archive turns back web pages time nonprofit internet archive launched called wayback machine allowing web surfers check internet sites vanished older versions sites still around san francisco effort brainchild brewster kahle millionaire technologist wants preserve internet ephemera generations come like many internet pioneers however kahle faces unfamiliar risks along opportunities archive might massive violation copyright law since ownership rights words came 10 billion pages available http web archive org joseph menn job cuts make store sears sears roebuck photographer associated press photo sears cutting nearly 5 000 jobs launching new strategy photographer associated press photo reeling airline industry expecting problems worsen photographer agence france presse graphic dimming power los angeles times copyright 2000 dow jones company inc rights reserved business ralph bivins devon energy makes building major lease ralph bivin staff 10 28 2001 houston chronicle 2 star 10 copyright 2001 houston known energy capital world glance around downtown skyline proves nickname appropriate houston skyscrapers bearing names enron chevron exxon shell make significant contributions view another name added downtown mix enhancing energy capital image even 36 story two allen center renamed devon energy tower devon energy signed lease 193 000 square feet space doubling presence building part deal devon gets put name structure lease also gives oklahoma city based devon right take space 1 million square foot building 1212 smith st devon recently announced plans acquire mitchell energy development maintain mitchell offices woodlands said klay kimker manager office administration devon kevin snodgrass tim relyea cushman wakefield represented devon transaction paul frazier margaret sigur negotiated deal behalf trizechahn office properties owner building trizechahn owns allen center cullen center office complexes total 6 million square feet space downtown trizechahn office space nearly full right enron vacating large amounts space next year nearby enron building complete teamsters build facilities teamsters union officials planning build new headquarters facilities union sells building katy freeway replace katy freeway building union expects build two smaller structures near bush intercontinental airport house different chapters said w parker secretary treasurer local 968 parker group expecting build 13 000 square foot building ella boulevard beltway 8 another teamsters group purchased 4 5 acres beltway 8 diplomatic plaza drive world houston business center land purchased licha family trust tony patronella marc drumwright southwest realty advisors handled sale chicago firm buying property chicago real estate investment firm quest acquire suburban office buildings houston ml capital ventures purchased two small office structures 71 736 square foot building 5500 northwest central drive 66 338 square foot building 5301 hollister building northwest central drive headquarters bj services energy company mike luecht president ml capital said firm acquire two additional houston office buildings end year ml capital business eight months exceed luecht initial plan buy 22 million worth suburban office space houston company start phase luecht said firm bullish two types real estate buying warehouses chicago buying office buildings suburban houston houston economy adding jobs promising market overlooked many investors luecht said many investors slow forget devastating meltdown houston realty market 1980 luecht said recent deal ml ventures bought 5500 northwest central building partnership avgeris associates chicago tom bousquet cb richard ellis brokered deal woodlands opens new section several 1 million home sites go sale weekend woodlands opens new section carlton woods gated community premium lots facing new jack nicklaus signature golf course custom lots range price 150 000 1 million range size one fifth acre two three fourths acres carlton woods community first gated community woodlands well received upper end home buyers said paul lazzaro vice president marketing woodlands thirty two homes construction carlton woods priced 1 million total 208 lots sold carlton woods opened year ago copyright 2000 dow jones company inc rights reserved india press enron plans exit lng shipping jv 10 28 2001 dow jones international news copyright c 2001 dow jones dow jones newswires 91 11 461 9426 himendra kumar dowjones com copyright 2000 dow jones section c enron taps credit lines buy back 3 3 billion debt floyd norris 10 27 2001 new york times page 2 column 5 c 2001 new york times company enron corporation trying reassure investors ample liquidity began repurchase outstanding commercial paper yesterday using 3 3 billion borrowed banks depleting lines credit enron spokesman said commercial paper repurchases completed company retain 1 billion cash moves appear reassure investors enron share price fell another six year low shares traded low 15 04 yesterday ending day 15 40 95 cents move raise interest expense company banks normally charge companies pay commercial paper market outstanding debt rise additional 1 billion enron debt rated investment grade bonds trade investment grade levels although low appears investors fear early default bonds trading low unlikely enron able sell commercial paper enron stock plunging since oct 17 shortly disclosed third quarter balance sheet yet released show 1 2 billion reduction shareholder equity result complicated transactions involving partnerships formerly controlled andrew fastow company chief financial officer replaced wednesday stock lost half value since earnings announcement company disclosed securities exchange commission asked questions accounting practices copyright 2000 dow jones company inc rights reserved companies finance international enron bond prices drop warning levels robert clow sheila mcnulty jenny wiggins 10 27 2001 financial times c 2001 financial times limited rights reserved enron houston based energy trading group continued pay heavy price lack financial transparency yesterday bond prices plummeted investor confidence enron declined sharply since company announced 1 2 bn reduction shareholder equity stemming complex balance sheet structure securities exchange commission also launched informal investigation company finances enron five year bonds trading yesterday 77 cents dollar yield 11 13 per cent 83 cents thursday bond prices levels normally suggest investors expect company file bankruptcy late thursday enron announced would draw bank lines buy back outstanding commercial paper two ratings agencies put company negative watch commercial paper financing normally rolled every 90 days one first forms financing disappear crisis want assure clients trading partners creditworthy continue business said robin west chairman petroleum finance company industry consultants situation like cash king enron biggest immediate business risk major trading counterparties duke energy reliant resources start asking collateral increasing cost everyday business enron downgraded junk counterparties could far credit rating analysts say enron core business holding well actions past days acknowledge company could still severely damaged scandal enron long faced criticism opaque financial reporting recent problems stem ljm private equity fund run andy fastow company former chief financial officer enron compensated partners complex balance sheet structure promising give enron shares value private equity investments new power company technology things fell certain level investments fell 1 2 bn value threshold level triggered issue 62 shares deal reversed complex deal designed make sure enron experience balance sheet volatility jp morgan chase others suffered marking private equity investments market c copyright financial times ltd rights reserved http www ft com copyright 2000 dow jones company inc rights reserved shorts enron bond prices pressure 10 27 2001 financial times c 2001 financial times limited rights reserved enron houston based energy trading giant continued pay price financial opacity stock slumped lowest level since 1995 five year bonds traded 77 cents dollar yield 11 13 per cent 83 cents thursday bond prices levels normally suggest investors expect company file bankruptcy page 10 c copyright financial times ltd rights reserved http www ft com copyright 2000 dow jones stock slides 10 27 2001 associated press newswires copyright 2001 associated press rights reserved houston ap enron corp tapped 3 billion credit effort boost confidence investors customers stock prices dropped enron corp stock price hit lowest point five years friday shares fell 95 cents friday 15 40 level seen since 1995 analysts continued muddle complicated series bookkeeping issues revealed company earnings announcement earlier month stock 50 percent two weeks company lost almost 14 billion market value late week company decided convert 3 billion revolving credit various banks cash company put 1 1 billion bank effort reassure business partners investors liquidity using 2 2 billion balance begin orderly repurchase certain kind short term corporate iou known commercial paper nothing spells confidence quite like cash want investors understand said enron spokesman mark palmer 1 1 billion banked week palmer could neither confirm deny company negotiating lines credit banks described actions good management decisions oct 16 enron third quarter earnings release drew renewed attention issue investors analysts previously unhappy chief financial officer andrew fastow enron board approval formed run two investment partnerships could created conflict interest partnerships ljm cayman ljm 2 co investment complex financing hedging deals enron fastow resigned roles partnerships months ago wall street began question whether could watch interests enron shareholders investment partnership simultaneously last week company reported 35 million loss related ending ljm ties well 1 2 billion reduction shareholder equity new questions began arise securities exchange commission division enforcement launched informal inquiry partnerships earlier week fastow put leave absence reducing company debt exposure commercial paper putting back traditional financial tools like revolving line credit could give great peace mind enron investors said anatol feygin analyst j p morgan helps shore support behind energy trading business really core operations feygin told houston chronicle saturday editions carol coale analyst prudential securities still sees move somewhat confusing last week touting unused lines credit plus fact tapped sends strange mixed message said need cash keep rating agencies back gesture customers first struck another one strangely timed actions part management copyright 2000 dow jones financial desk enron decline continues bloomberg news 10 27 2001 los angeles times home edition c 2 copyright 2001 times mirror company houston 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 last 14 days investors questioned transactions affiliates run enron former chief financial officer shares fell 95 cents 5 8 15 40 new york stock exchange investors said chief executive kenneth lay failed reassure company credit rating cut 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 price enron 6 75 bonds mature 2009 declined 11 2 points bid 84 cents dollar offer 86 cents price bonds carry rating bbb yield 9 53 investors grown concerned firm 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 moody investors service took away hassle time consuming nature rolling commercial paper insured access capital copyright 2000 dow jones stock slides company says cash boost confidence tom fowler staff 10 27 2001 houston chronicle 3 star 1 copyright 2001 enron corp stock price hit lowest point five years friday tapped 3 billion revolving credit effort assure investors customers shares fell 95 cents friday 15 40 level seen since 1995 analysts continued muddle complicated series bookkeeping issues revealed company earnings announcement earlier month stock 50 percent two weeks company lost almost 14 billion market value late week company decided convert 3 billion revolving credit various banks cash company put 1 1 billion bank effort reassure business partners investors liquidity using 2 2 billion balance begin orderly repurchase certain kind short term corporate iou known commercial paper nothing spells confidence quite like cash want investors understand said enron spokesman mark palmer 1 1 billion banked week palmer could neither confirm deny company negotiating lines credit banks described actions good management decisions enron recent woes began oct 16 third quarter earnings release drew renewed attention issue investors analysts previously unhappy chief financial officer andrew fastow enron board approval formed run two investment partnerships could created conflict interest partnerships ljm cayman ljm 2 co investment complex financing hedging deals enron formed originally way offset risks associated company newer businesses broadband trading fastow resigned roles partnerships months ago wall street began question whether could watch interests enron shareholders investment partnership simultaneously last week company reported 35 million loss related ending ljm ties well 1 2 billion reduction shareholder equity new questions began arise securities exchange commission division enforcement launched informal inquiry partnerships earlier week fastow put leave absence enron begin repurchasing commercial paper way companies raise money short period rates usually slightly better banks offer often flexible terms extent redeeming commercial paper expense capital markets look negatively said anatol feygin analyst j p morgan reducing company debt exposure commercial paper putting back traditional financial tools like revolving line credit could give great peace mind enron investors said helps shore support behind energy trading business really core operations feygin said carol coale analyst prudential securities still sees move somewhat confusing last week touting unused lines credit plus fact tapped sends strange mixed message said need cash keep rating agencies back gesture customers first struck another one strangely timed actions part management jeff dietert analyst simmons co said enron management needs continue make clear issues investors confused concerned worst case scenario investor fears could create vicious cycle continues drive stock would force bond rating agencies consider downgrades enron could lead lower credit ratings would force enron energy trading partners limit exposure company cut back business thus see big incentive enron clarify issues dietert wrote report friday gut feel enron pull feygin said also believes company continue better revealing financial dealings thinks may surprises store example wall street journal article friday discussed first time another business entity ties enron known chewco formed 1997 400 million financial backing buy interests unnamed enron assets chewco run michael kopper managing director enron global equity markets group copyright 2000 dow jones company inc rights reserved business enron says microsoft breached contract staff 10 27 2001 houston chronicle 3 star 2 copyright 2001 enron corp filed suit microsoft corp state district court houston week claiming software giant breached contract new high speed internet service companies entered agreement last june enron would provide internet bandwidth microsoft rolled msn broadband service enron broadband network would link msn customers two dozen states including texas qwest communications providing internet infrastructure 14 states msn oct 23 microsoft said enron would breached contract provide operational bandwidth system oct 25 according bloomberg news lawsuit enron claims microsoft failed deliver ordering billing system needed deliver end project first phase lawsuit appears blocking launch msn service 14 states served qwest enron officials declined comment microsoft spokesman said company reviewed filing confident upheld agreement enron copyright 2000 dow jones section journal lose war frank rich 10 27 2001 new york times page 19 column 2 c 2001 new york times company welcome back sept 10 america strikes back optimism surged sept 11 stricken multitude ways losing war home f b proved effective waging turf battles rudy giuliani waging war terrorism 900 suspects arrested exactly zero criminally charged world trade center attack though one died natural causes told new jersey jail cell bush team fully recognize second attack america begun week first casualty highly trumpeted breakthrough hunt anthrax terrorists tom ridge announcement site letters mailed found new jersey proved dead end president posing elementary school children given administration touted run c e clockwork perhaps added growing list things changed forever since sept 11 let hasty everything changes fast least washington white house home front failures sudden unpredictable products wartime confusion direct products ethos place since jan 20 administration let special interests particularly high rolling campaign contributors noisiest theocrats right veto power public safety public health economic prudence war turns less peacetime anthrax struck administration first impulse secure much cipro speedily possible protect americans protect right pharmaceutical companies profiteer white house faith tax cuts panacea national ills led absurdities week house stimulus package showering 254 million enron reeling houston energy company e c investigation served bush campaign cash machine airport security enhanced best cosmetic tweaks since sept 11 also held hostage campaign cash salon reported servicemaster supplier low wage employees ineptly man gates another g p donor republicans stand alone putting fat cats first display bipartisanship democrats lobbied linda hall daschle senate majority leader wife joined administration handing airlines 15 billion bailout enforces reduction salaries industry c e even lay tens thousands employees see religious right exerted distortions homeland security also consider administration pattern goes back creation one explains recent trials poor tom ridge mr ridge accounts capable leader successful governor large state pennsylvania bronze star heroism vietnam close friend george w bush administration get go widely rumored candidate various jobs including vice presidency pilloried right supports abortion rights got zilch instead mr ridge administration signed pro life john ashcroft tommy thompson brought us today farcical failures two cabinet secretaries merely public relations though mr thompson often comes across chamber commerce glad hander know pants fire mr ashcroft often shakes seen great caesar ghost perhaps john mitchell well history letting politics override public policy dates start administration seen reason reverse partisan priorities even time patriotic duty effectively fighting terror 1 concern pre sept 11 mr thompson defiance science heartily lent credibility bush administration stem cell compromise going along overstatement viability diversity stem cell lines would deliver researchers post sept 11 destroyed credibility understating severity anthrax threat also defiance science maintains 1 5 billion administration requesting plug many holes public health system almost earmarked stockpiling pharmaceuticals shoring local hospitals adequate fighting bioterrorism defiance expert estimates including one physician senate republican bill frist also mr thompson conscience first two weeks anthrax crisis kept federal government house physician david satcher surgeon general much needed honest broker public health locked away presumably dr satcher clinton appointee became persona non grata bush administration issuing june report teenage sexuality angered religious right mr ridge arrived scene surgeon general liberated gulag mr ashcroft gone far turn away firsthand information domestic terrorism political reasons planned parenthood front lines anthrax scares years grim necessity marshaled medical security expertise combat sought meeting attorney general since took office never granted one true sept 11 says ann glazier planned parenthood director security remains true even though organization long targeted home grown talibans army god decade worth leads convergence international domestic terrorism ms glazier found sight mr ashcroft federal keystone kops offering 1 million reward anthrax terrorists laughable indication little grasp enemy religious extremists respond money points state f b adds one agent told clinic hold onto suspect letter couple days many afraid going lose perhaps among timothy mcveigh documents either attorney general secretary health human services inspired anything like confidence say mayor giuliani need draft mr ridge even mainly p r gimmick man administration first place reduced serving fig leaf lightweights director homeland security allegedly charged supervising nearly 50 government agencies far roughly dozen staff members asked define mr ridge responsibilities ari fleischer said wednesday busy coordination job far mr ridge mainly sowing still confusion one specific duty claimed interview tom brokaw one making phone call president shoot commercial airliner turned flying bomb hijackers presumably comes news donald rumsfeld made provision homeland security czar air force chain command publicly codified days mr ridge appointment since administration tightly metes news afghanistan hope war executed effectively war even mr rumsfeld generals tell us taliban expected implode days proving viet cong like intractability wall street journal also reported week instead thankful afghan population popular support taliban appears solidifying anger u growing maybe losing battle afghan hearts minds part bush state department appointee charge propaganda effort c e madison avenue chosen expertise policy politics salesmanship behalf domestic products like head shoulders shampoo effectively fight anthrax guess reassuring know always win war dandruff drawing copyright 2000 dow jones company inc rights reserved city enron directors cash shares simon english 10 27 2001 daily telegraph p 31 c telegraph group limited london 2001 leading executives enron troubled us energy giant cashed shares worth 100 70 year run financial crunch left company credibility ruins research thomson financial shows kenneth lay chief executive sold 400 000 shares year netting 25 still held 2 8 shares july executives made similar sales revelation likely anger investors seen shares fall 83 start year 45 july halved week fell 16 yesterday enron declined comment share sales mr lay said statement seeking dispel uncertainty financial community drawing lines credit restore faith enron financial strength enron pay debts 2 2 billion keep another 800 000 cash said know work cut us rebuild credibility investment community company facing inquiry securities exchange commission partnerships managed andrew fastow former chief financial officer mr fastow ousted wednesday night part company moves restore confidence though enron insists done nothing wrong enron lost 1 billion third quarter called failed investments copyright 2000 dow jones company inc rights reserved india lenders meet enron dabhol nov 3 10 27 2001 reuters english news service c reuters limited 2001 bombay oct 27 reuters lenders power plant india majority owned enron corp called meeting next week london discuss ways reviving beleaguered project banking source said saturday examine offers two indian companies put forward buying u energy giant 65 percent stake two u firms dabhol power company dpc building controversial project source told reuters meeting lenders include multinational banks citibank bank america held november 3 source added stake fate 2 9 billion 2 184 mw project india largest foreign direct investment also 600 million investment enron general electric co bechtel three companies founders dpc 1995 got permission india maharashtra state government set plant coast plant first phase 740 mw completed 1999 work second phase 1 444 mw 97 percent complete abruptly stopped june year following blazing row cash strapped state utility mseb mseb agreed 1995 take plant entire output said longer dabhol power costly dabhol turn accused mseb defaulting monthly payments served preliminary notice terminate power purchase contract notice companies given six months time settle matter negotiations talks fail dabhol right issue final termination notice take matter arbitration london six month period expires november 19 houston based enron owns 65 percent dabhol announced intends exit project offered sell equity indian government time running business standard newspaper reported next week meeting would also discuss request dabhol finally terminate contract november 19 one items agenda paper quoted senior banker saying paper said dabhol serves final notice matter proceeds arbitration would help india widespread view among government lenders situation dpc win hands paper added dabhol spokesman could contacted immediately source said meeting would review progress made resolving dispute far indian government responded enron offer buy equity two indian companies bses ltd tata power ltd shown interest agreed take project cost reduced founders agree sell stake discount local business daily economic times reported friday tata power bses willing pay founders 450 600 million 85 percent stake held enron ge bechtel enron rejected offer ready settle anything less 1 billion paper added officials tata power bses immediately available comment 1 48 00 indian rupees copyright 2000 dow jones move could block high speed service associated press bloomberg news 10 27 2001 seattle times fourth e 4 copyright 2001 houston enron sued microsoft alleging breached contract broadband services move could temporarily block largest software company msn 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 including washington qwest communications international operates said bob visse director marketing msn enron lawsuit filed thursday day microsoft planned offer fast internet access 45 cities give access potential customers 29 million homes microsoft 2 u internet provider making push win customers aol time warner trying resolve issues enron quickly possible time evaluating providers visse said enron spokeswoman karen denne declined comment lawsuit citing company policy pending litigation enron based houston largest energy trader 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 news wire reported enron claims lawsuit microsoft failed deliver ordering billing system required initial phase deal dow reported alternative browser users denied microsoft entry new york microsoft premier web portal msn com denied entry millions people use alternative browser software opera told get microsoft products instead decision led complaints small loyal opera community microsoft abusing status internet browser leader microsoft later backed said yesterday would support browsers browser products affected shutout triggered face lift msn com web site included opera mozilla amaya said kevin reichard editorial manager internet com browserwatch site mike pettit president procomp anti microsoft group urged state federal investigators look matter part lawsuit accusing microsoft anti competitive practices associated press microsoftsf shut sony run retail store san francisco sony take retail store manages microsoft next month biggest software maker xbox goes sony playstation 2 contest control 20 billion video game market sony spokeswoman said two companies agreed shut microsoftsf retail outlet sony san francisco metreon entertainment complex replaced digital solutions electronics store run sony thursday metreon spokeswoman kirsten maynard said april 1998 companies said would open store displays sells microsoft products alongside sony electronics run software march 2000 microsoft announced xbox game console advanced graphics chip goes sale nov 15 lot changed companies maynard said sort became fit anymore sony metreon carry xbox game cube new video console nintendo goes sale nov 19 said officials microsoft reached comment shutdown bloomberg news copyright copyright seattle times company rights reserved must get permission reproduce part material copyright 2000 dow jones company inc rights reserved