enron mentions uk u enron shuts finland office reuters english news service 11 06 01 usa enron shares fall 10 first time since 1992 reuters english news service 11 06 01 enron used partnerships mask debt holders charge updatel bloomberg 11 06 01 enron falls credit private financing concerns update 2 bloomberg 11 06 01 platform aims trade tailored power products online dow jones energy service 11 06 01 usa bush ties give enron sympathetic ear washington reuters english news service 11 06 01 usa update 1 enron shares hit new lows credit worries reuters english news service 11 06 01 uk u enron shuts finland office 11 06 2001 reuters english news service c reuters limited 2001 london nov 6 reuters u energy group enron said tuesday closed offices finland part restructuring scandinavia planned time continue service finnish clients oslo office said spokeswoman enron european headquarters london enron finland office staff two spokeswoman said closure finland unconnected group recent problems bankers say houston based enron may sell assets seeks head credit crunch restore investor confidence company stock halved value since mid october credit downgraded emerged u securities exchange commission investigating balance sheet transactions led 1 billion charge 1 2 billion write shareholder equity copyright 2000 dow jones company inc rights reserved usa enron shares fall 10 first time since 1992 11 06 2001 reuters english news service c reuters limited 2001 houston nov 6 reuters shares beleaguered energy giant enron corp hit latest recent series new lows tuesday dipped 10 mark first time since may 1992 mid morning trading enron stock 1 24 11 1 percent per share 9 93 touching low 9 88 year enron shares shed 88 percent value enron north america biggest wholesale marketer trader electricity natural gas held talks private equity firms power trading companies capital infusion least 2 billion wall street journal reported tuesday enron seen stock hammered recent weeks concerns complex finances undermined investor confidence company wall street favorite early year copyright 2000 dow jones 1 27 billion acquisition electric plant brazil 1998 2 51 billion purchase water company united kingdom 1998 new plans late 1990 enron executives changed course company said would sell pipelines power plants make money almost entirely trading energy rather producing plan succeeded last year 97 percent enron revenue came trading advising industrial customers energy use think legacy proved build business intellectual capital physical assets former chief executive officer jeffrey skilling said may skilling left enron august citing personal reasons replaced predecessor kenneth lay central enron plan sell hardware creation affiliates buy pipelines plants sell bonds finance transactions enron posted information web site last week saying created affiliates raise money enron projects officials involved incorporation papers texas delaware show 33 companies formed enron list enron executives employees officers fastow served officer director 33 affiliates one enron affiliate obi 1 holdings llc lists 24 enron employees executives directors another affiliate oilfield business investments 1 llc lists 29 enron spokesman mark palmer said executives served officers directors affiliates represent enron interests none receives compensation except fastow said fastow permitted enron earn bonus 2 percent total amount one partnership invested selling assets company controlled affiliates uncommon said columbia university securities law professor john coffee suspect coffee said companies make balance sheets look better practice embraced everyone sort thing part duke business plan said jim donnell chief executive duke energy corp wholesale power unit different objective sell interested special purpose vehicle profit potential earlier year former cfo fastow unusual position enron board permitted manage two partnerships ljm cayman ljm 2 co investment personally profit buying selling assets ljm entered agreements bound buy enron stock predetermined price six months later lawsuit filed shareholder fred greenberg says fastow used advance knowledge enron shares would fall rework agreement allowed ljm buy shares two months early bringing 10 5 million profit agreement renegotiated partnership would lost money suit alleges enron acknowledged potential conflict interest allowing executives serve directors affiliates bond offering whitewing affiliate says certain individuals serve officers directors enron may also serve directors whitewing therefore duties directors officers enron may conflict duties directors officers whitewing ouster enron ousted fastow cfo oct 24 day company said sec questions partnerships shareholders also say lawsuits enron executives benefited fully disclosing company financial position cite insider sales 73 million shares ahead 26 percent drop company stock february march executives included lay sold stock worth 11 2 million skilling sold stock 6 41 million vice chairman mark frevert sold shares totaling 14 2 million trading unusual suspicious given timing shareholder class action suit says access adverse undisclosed information enron falls credit private financing concerns update 2 2001 11 06 14 18 new york enron falls credit private financing concerns update 2 adds bond ratings 10 th 11 th paragraphs adds information enron bond repayment eighth paragraph updates shares houston nov 6 bloomberg enron corp shares fell much 15 percent bond rating agency fitch inc said may cut company credit rating junk status wall street journal reported 1 energy trader seeking cash private investors enron shares fell 1 55 9 62 midafternoon trading earlier touched 9 55 lowest price since may 1992 concern company getting desperate said zach wagner energy analyst edward jones really desperate need cash investors like see wagner rates enron reduce shares former enron chief executive officer jeffrey skilling canceled planned appearance today milken institute conference near los angeles subpoenaed testify washington said ross devol official institute devol say subpoenaed skilling reason enron spokeswoman karen denne said unaware testimony skilling know might expected testify skilling resigned enron ceo august enron seeking 2 billion cash private investors wall street journal reported company whose shares fallen 88 percent year held talks blackstone group lp clayton dubilier rice inc discuss cash investment number unidentified power trading companies expressed interest investing enron paper said fitch downgrade fitch said may cut houston based enron credit rating investment grade fails cut debt business slows yesterday cut enron long term credit rating two notches lowest investment grade bbb bbb enron uses investment grade credit rating borrow money cash needs every day settle commodities trades keep trading partners lower credit rating also would trigger early repayment 3 3 billion enron bonds due 2002 2003 u securities exchange commission investigating enron partnerships run former chief financial officer partnerships bought sold enron shares assets trades costing enron 35 million 1 2 billion lost shareholder equity enron ousted chief financial officer andrew fastow last month standard poor thursday lowered enron long term credit rating bbb second lowest investment grade bbb enron short term debt rating cut 3 lowest investment grade 2 oct 29 moody investors service lowered enron long term credit rating baa 2 baal two notches junk status also placed company p 2 rating commercial paper review possible downgrade platform aims trade tailored power products online kristen mcnamara dow jones newswires 11 06 2001 dow jones energy service copyright c 2001 dow jones 201 938 2061 kristen mcnamara dowjones com copyright 2000 dow jones vice president dick cheney general republican power structure running show nation capital whether contacts need tapped enron struggles corporate crisis touched questionable financial dealings remains seen companies usually give money candidates friends high places need experts said enron probably use lot goodwill build anyway said energy analyst dale steffes head planning forecasting consultants houston enron dominates natural gas electricity markets united states come investigation u securities exchange commission following disclosures balance sheet deals partnerships run chief financial officer andrew fastow financial world concerned possible conflicts interest angry enron yet explain transpired abandoned stock recent weeks causing 70 percent drop value since mid october enron trying bolster investor confidence tapped 4 billion new existing credit lines recent days credit rating cut near junk status worries possible cash crunch political capital high problems afflict enron political side lay long time political benefactor bush family believed experts biggest single contributor george w bush various campaigns last year lay earned title bush pioneer raised least 100 000 contributions presidential campaign estimates given 1 million bush years lay said political contributions aimed gaining influence make contributions candidate special favor supporting candidate strongly believe personally lay said interview pbs news program frontline bush governor texas lay served governor business council helped push bush legislative agenda key energy adviser presidential campaign lay came criticism one handful business bigwigs called private meeting cheney administration formulated controversial energy plan ken friend cheney explained frontline enron network political connections extends congress gives money many house senate according center responsive politics tracks money politics enron employees gave 2 4 million contributions 2000 election year energy company amount 72 percent went republicans said washington based center ties u senator phil gramm texas ranking republican powerful senate banking committee particularly close wife wendy gramm enron board directors 1988 1993 president george h w bush chaired u commodity futures trading commission played role deregulating energy markets enron dominates raised eyebrows joined enron board five weeks leaving commission gramm selection unusual enron said andrew wheat research director texans public justice campaign finance watchdog group austin told reuters company used former washington officials help secure business deals countries last week enron hired william mclucas former head sec enforcement division attorney probe business dealings think enron astronomical power state country bush unparalleled wheat said still guarantees steffes said enron connections guarantee washington help company needs kind bailout energy industry well liked said likely believes energy industry peers would chip taking financial interest company simply need enron experts worry without enron controls 25 percent energy trading markets would become volatile wheat said idea enron big fail likely lost administration following attacks sept 11 engineered bailout airlines may industries enron comes big advantage said got pretty clear path white house wheat said copyright 2000 dow jones company inc rights reserved usa update 1 enron shares hit new lows credit worries 11 06 2001 reuters english news service c reuters limited 2001 houston nov 6 reuters enron corp shares sank 10 mark first time almost decade tuesday amid persistent concerns beleaguered energy giant deteriorating credit ratings could hamper core natural gas electricity marketing trading business afternoon trading enron stock 1 55 13 9 percent 9 62 per share hitting new nine year low 9 55 enron actively traded issue new york stock exchange tuesday 20 million shares changing hands fourth biggest percentage loser far year shares former wall street favorite lost 88 percent value stock last traded 10 may 1992 seeing continuing concern credit rating said cibc world markets analyst william hyler stock hammered particularly hard concerns complex finances lack disclosure undermined investor confidence enron following release third quarter earnings stock plunge began oct 16 enron reported first quarterly loss four years took 1 billion charge ill fated investments soon disclosed 1 2 billion cut shareholder equity investigation u securities exchange commission dealings related chief financial officer andrew fastow undermined investor confidence led fastow ouster share prices tried rebound last week renewed plunge announcement monday credit rating agency fitch cut rating enron senior unsecured debt one notch junk bond status fitch also said would make downgrades enron unable make progress reducing debt two main rating agencies moody investors service standard poor already cut credit ratings enron enron north america biggest marketer trader electricity natural gas analysts say holding investment grade credit ratings vital maintaining confidence companies trades day traders markets said tuesday monitoring enron closely signs anybody cutting back business company fear might able honor obligations part ongoing efforts strengthen finances restore confidence enron held talks private equity firms power trading companies capital injection least 2 billion wall street journal reported tuesday investors willing provide fresh capital enron would receive equity stake enron preferred stock would convertible common stock enron stock price recovers certain level journal said hyler said difficult judge whether would welcomed existing investors could see existing ownership stake enron diluted move depends cost equity much give said another analyst spoke condition anonymity said short term rather long term financing currently uppermost investors minds get permanent solution fold light short term credit worries said copyright 2000 dow jones company inc rights reserved