enron mentions watch neg pr newswire 11 07 01 dj cnbc faber report enron dynegy deal talk dow jones 11 07 01 enron talks dynegy may include merger cnbc says bloomberg 11 07 01 wsj dynegy talks put 2 b enron dow jones news service 11 07 01 enron shares fall concern finding investors update 2 bloomberg 11 07 01 enron credit linked note ratings reduced 6 days late update 2 bloomberg 11 07 01 former sec chairman levitt transcript interview bloomberg 11 07 01 usa u ferc watching enron impact energy markets reuters english news service 11 07 01 apache unwinds gas hedges cites enron uncertainty dow jones news service 11 07 01 usa enron shares fall 8 set new nine year low reuters english news service 11 07 01 enron stock drops 25 percent associated press newswires 11 07 01 rabin peckel llp commences class action enron corporation certain officers directors alleging violations federal securities laws business wire 11 07 01 enron power company india calls singapore meeting indian lenders file lawsuit associated press newswires 11 07 01 usa el paso says expect enron bankruptcy reuters english news service 11 07 01 energy traders icing enron shares trade 9 year lows 2 nd straight day cbs marketwatch com 11 07 01 legal group plans suit void california power contracts bloomberg 11 07 01 watch neg 11 07 2001 pr newswire copyright c 2001 pr newswire new york nov 7 prnewswire standard poor today lowered ratings enron credit linked notes trusts credit linked notes placed creditwatch negative implications see list lowered ratings reflect nov 1 2001 rating action taken enron corp based standard poor belief enron plan employ asset sales means repair damaged balance sheet insufficient restore long term credit quality historical triple b plus level creditwatch placements recognize uncertainties surround company credit quality short run due possibility unanticipated developments capital markets synthetic issues utilize credit default swap references enron senior unsecured debt therefore rating credit linked notes reflect current senior unsecured rating enron outstanding ratings lowered placed creditwatch negative enron credit linked notes trust us 500 million credit linked notes rating notes bbb watch neg bbb enron credit linked notes trust ii us 500 million credit linked notes rating notes bbb watch neg bbb enron euro credit linked notes trust eur 200 million credit linked notes rating notes bbb watch neg bbb enron sterling credit linked notes trust gbpl 25 million credit linked notes rating notes bbb watch neg bbb contact mary ryan new york 1 212 438 2090 frank j trick new york 1 212 438 1108 standard poor 11 47 est copyright 2000 dow jones company inc rights reserved dj cnbc faber report enron dynegy deal talk 2001 11 07 14 56 new york following transcript report aired wednesday cnbc reporter david faber enron discussions dynegy range options include merger two companies outcome one number options discussed sources close talks tell outcome considered enron trying raise equity capital restore confidence amid complete collapse stock price today houston based energy trading concern shares fallen another 25 bonds perhaps better barometer market concerns credit quality shed roughly ten points enron comment sources close situation tell company continues speak handful private equity firms investment talks still early stages talks dynegy cross town rival enron also markets trades energy progressed faster pace dynegy unlike enron owns hard assets many came along acquisition illnova completed 2000 many potential acquirers shied away enron due continued concern unknown liabilities company may dynegy familiar energy trading business dynegy number two player u energy trading market would clearly become dominant player merge acquire enron dynegy spokesman declined comment dynegy balance sheet financings similar enron financings guaranteed parent guarantees concerned enron investors along series questionable investments given massive decline enron stock price dynegy market value twice enron decline enron stock price would make equity infusion heavily dilutive private equity firms choose invest enron would likely form security converted equity paid dividend still enron market value 5 3 billion roughly 2 billion may want represents enormous percentage overall equity value hence discussion dynegy may taken form merger rather strategic investment enron talks dynegy may include merger cnbc says 2001 11 07 13 39 new york houston nov 7 bloomberg enron corp talking rival energy company dynegy inc number options including merger help raise equity capital restore confidence financial news network cnbc reported spokesmen dynegy enron declined comment wsj dynegy talks put 2 b enron robin sidel 11 07 2001 dow jones news service copyright c 2001 dow jones wall street journal 212 274 7991 copyright 2000 dow jones company inc rights reserved enron shares fall concern finding investors update 2 2001 11 07 14 06 new york enron shares fall concern finding investors update 2 adds cnbc report talks dynegy fifth paragraph houston nov 7 bloomberg enron corp shares fell much 28 percent lowest level decade amid reports 1 energy trader struggling find investors help cash crunch shares enron fell 1 17 12 percent 8 50 midafternoon trading shares dropped 7 earlier yesterday close fallen 88 percent year enron hard time raising large amount cash short time said sean egan managing director egan jones rating co takes time sell assets many shrewd investors like goldman sachs might find profitable pluck key employees rather invest enron egan said shares pared today losses cnbc reported enron talking rival dynegy inc options including merger companies based houston comment market rumors dynegy spokesman steve stengel said enron comment speculation mergers acquisitions enron spokesman mark palmer said berkshire hathaway inc chairman warren buffett decided investing enron willing sign confidentiality agreement would keep trading enron debt new york times reported today citing unidentified person close talks companies approached enron including clayton dubilier rice blackstone group kohlberg kravis roberts co also shown little interest newspaper said u securities exchange commission investigating enron partnerships run company former chief financial officer entities bought sold enron shares assets trades costing enron 35 million 1 2 billion lost shareholder equity enron ousted cfo andrew fastow last month rating downgraded standard poor today reduced rating enron credit linked notes six days ratings company downgraded enron senior unsecured bonds p cut four enron credit linked issues valued 1 36 billion combined bbb bbb indicated may lower grades fearing enron collapse might cripple natural gas derivatives market oil gas producer apache corp said backed gas hedges realizing 70 million gain far unwinding hedge positions uncertainty created enron credit problems apache spokesman bill mintz said company one position enron trying unwind apache news reported earlier times fragile business trading business fragile business egan said partners either side get concerned trading volumes decline happening companies mentioned reports possible buyers part enron denied interest idea general electric co chief executive officer jeffrey immelt told cnn today enron really list right bp plc chief executive john browne said press conference london yesterday asked whether london based company would interested buying enron stake company among shares energy traders dynegy fell 1 70 34 30 mirant corp fell 15 cents 25 40 williams cos fell 4 cents 28 97 margot habiby houston 713 353 4872 enron credit linked note ratings reduced 6 days late update 2 2001 11 07 14 46 new york enron credit linked note ratings reduced 6 days late update 2 adds background stock price fourth sixth paragraphs new york nov 7 bloomberg standard poor corp downgraded notes linked enron corp credit quality match 1 energy trader credit rating six days ratings company reduced corporate debt ratings p said cut four enron credit linked notes valued 1 36 billion bbb bbb indicated may lower grades additional downgrade happened last week said todd shipman director ratings company follows company last week shipman downgraded enron long term ratings bbb bbb left watch downgrade enron shares today fell much 28 percent lowest level decade amid reports 1 energy trader struggling find investors help cash crunch shares enron fell 1 17 12 percent 8 50 mid afternoon trading shares dropped 7 earlier yesterday close fallen 88 percent year federal securities exchange commission investigating enron partnerships run company former chief financial officer andrew fastow ousted last month entities bought sold enron shares assets trades costing enron 35 million 1 2 billion lost shareholder equity notes holders credit linked notes sold enron euro cln trust enron sterling cln trust enron cln trust trust ii may received higher coupon enron corporate obligation offers notes obligations special purpose entities tied specific credit events bankruptcy enron failure pay obligations proceeds notes used acquire trusts initial investments buyers paid interest proceeds certain assets according offering memorandum trusts invest securities short term ratings least al p pl moody investors service long mature maturity dates notes four notes divided two offerings offered publicly privately sold notes scheduled mature august 2005 may 2006 sold group banks led salomon smith barney unit citigroup event enron credit event citibank acted swap counter party trusts take trusts investments return enron debt obligations enron debt liquidated trust proceeds paid investors neither enron citibank direct obligations holders notes according offering memorandum enron credit linked notes utilize credit default swap trusts citibank references enron senior unsecured debt rating credit linked notes reflect senior unsecured rating 52 million dollars went accountants problem audit committee work look enron statements many times heard confusing job auditing firm see confusing real problem ratigan tell levitt think actually fasb independent standards setter could put rule says ratigan fasb federal accounting standards board set rules levitt yes located norwalk connecticut could say company sets another legal entity company retains risks rewards entity public company public company set entities must consolidate p l balance sheet transactions come think sec could urge fasb 1990 present chief accountant sec called action taken place point chief accountant support move ratigan creates mind rallying call reiterate request venom passion levitt know venom ratigan passion levitt certainly think passion think clearly call better disclosure ratigan fair enough see next week ok levitt good nice see ratigan end transcript usa u ferc watching enron impact energy markets 11 07 2001 reuters english news service c reuters limited 2001 washington nov 7 reuters federal energy regulatory commission watching effect enron corp financial problems may interstate electricity natural gas markets ferc chairman pat wood said wednesday however wood said ferc direct role ongoing federal investigation company watching impact enron firm would overall workings market intervening agencies jurisdiction wood told reporters briefing agency regular meeting enron nation largest trader natural gas electricity attack failing explain balance sheet transactions led 1 2 billion write shareholder equity deals conducted partnerships run ousted chief financial officer andrew fastow investigation u securities exchange commission copyright 2000 dow jones cites enron uncertainty christina cheddar dow jones newswires 11 07 2001 dow jones news service copyright c 2001 dow jones 201 938 5166 christina cheddar dowjones com copyright 2000 dow jones company inc rights reserved usa enron shares fall 8 set new nine year low 11 07 2001 reuters english news service c reuters limited 2001 new york nov 7 reuters shares enron corp fell new round selling wednesday set new nine year lows amid concerns energy trading giant ability raise cash company stock slid 1 77 18 3 percent 7 90 late morning trading new york stock exchange diving 8 first time since february 1992 shares almost 77 percent since company released earnings results oct 16 set recent tumble issues plagued houston based company past three weeks continue weigh according jeff dietert analyst simmons co bit vicious cycle said stock price declines credit concerns go counterparties attempt reduce exposure earnings power company deteriorates added enron needs get ducks row meet holders stocks bonds discuss issues company capitalization plans strengthening balance sheet enron nation largest trader natural gas electricity attack failing explain balance sheet transactions led 1 2 billion write shareholder equity deals conducted partnerships run ousted chief financial officer andrew fastow investigation u securities exchange commission copyright 2000 dow jones company inc rights reserved enron stock drops 25 percent 11 07 2001 associated press newswires copyright 2001 associated press rights reserved houston ap enron corp stock price continued free fall wednesday shares fell 25 percent new 10 year low amid reports company trouble attracting large investor allay worries financial health restore confidence shares largest u natural gas power marketer dropped dlrs 2 41 dlrs 7 26 midday trading wednesday new york stock exchange enron rebuffed dozen buyout firms well warren buffett berkshire hathaway new york times reported wednesday citing person close talks houston based enron stock 79 percent since oct 16 company said shareholder equity reduced dlrs 1 2 billion part due partnerships managed enron former chief financial officer andrew fastow time reported dlrs 618 million third quarter loss last month dragged one time charge dlrs 1 01 billion attributed various losses fastow ousted week later company financial stability weakened securities exchange commission began inquiry upgraded formal investigation partnerships possible conflicts interest resulting tuesday jeff skilling enron former chief executive officer testified sec washington c enron woes prompted speculation possible takeover company potential buyers mentioned include general electric ge capital unit royal dutch shell ge capital ruled investment times said citing source close talks enron cashed dlrs 3 billion revolving credit various banks shore investor confidence last week enron secured dlrs 1 billion new financing using natural gas pipeline assets collateral enron officials said tuesday seeking additional financing one many options company exploring firm investor market confidence meanwhile standard poor corp wednesday lowered ratings enron credit linked notes placed creditwatch p said enron plan repair damaged balance sheet asset sales means insufficient moody investors service fitch inc also downgraded company credit ratings last week enron announced created special committee headed university texas law school dean william powers respond sec investigation powers also elected enron board directors copyright 2000 dow jones company inc rights reserved rabin ii company operating results materially overstated result company failing timely write value investments certain limited partnerships managed company chief financial officer iii enron failing write impaired assets timely basis accordance generally accepted accounting principles gaap class period enron insiders disposed 73 million personally held enron common stock unsuspecting investors october 16 2001 enron surprised market announcing company taking non recurring charges 1 01 billion tax 1 11 loss per diluted share third quarter 2001 period ending september 30 2001 subsequently enron revealed material portion charge related unwinding investments certain limited partnerships controlled enron chief financial officer company would eliminating 1 billion shareholder equity result unwinding investments news hit market price enron common stock dropped significantly plaintiff represented law firm rabin peckel llp rabin peckel llp predecessor firms devoted practice shareholder class actions complex commercial litigation thirty years recovered hundreds millions dollars shareholders class actions throughout united states learn information rabin peckel www rabinlaw com purchased enron common stock class period described may later december 21 2001 move court serve lead plaintiff serve lead plaintiff however must meet certain legal requirements join action lead plaintiff online www rabinlaw com wish discuss action questions concerning announcement rights interests please contact plaintiff counsel maurice pesso eric belfi rabin peckel llp 275 madison avenue new york ny 10016 telephone 800 497 8076 212 682 1818 facsimile 212 682 1892 e mail email rabinlaw com contact rabin peckel llp maurice pesso eric belfi 800 497 8076 212 682 1818 fax 212 682 1892 email rabinlaw com www rabinlaw com 12 41 est november 7 2001 copyright 2000 dow jones company inc rights reserved enron power company india calls singapore meeting indian lenders file lawsuit satish nandgaonkar associated press writer 11 07 2001 associated press newswires copyright 2001 associated press rights reserved bombay india ap enron corp indian power unit canceled meeting four indian creditors filed lawsuit company three parties wednesday demand energy project resume operations two day meeting scheduled begin singapore thursday discuss bids two indian companies acquire stake troubled 2 9 billion dabhol power co lenders industrial bank india industrial finance corporation india state bank india icici approached bombay court demand work power project western indian state maharashtra resume ensure adequate cash flows project help promoters pay dues four financial institutions dabhol power co state utility maharashtra state electricity board government india maharashtra government four parties named lawsuit indian banks financial institutions invested 1 3 billion project want dabhol continue work project mseb buy power produced two day meeting singapore scheduled discuss bids made two indian companies tatas bombay suburban electricity supply acquire stake dpc enron offered sell stake dpc 850 million 30 percent discount tatas wanted 50 percent discount monday enron began pullout dabhol power project issuing notice sell stake project sole customer maharashtra state electricity board asset transfer notice issued dabhol power project mseb comes prolonged payment dispute electricity board dispute forced houston based company shut dabhol plant may fairfield conn based general electric co bechtel group inc united states hold 10 percent stakes company enron moved london court international arbitration says would prefer negotiated settlement federal government maharashtra state government company still prefers negotiated purchase project indian government indian term lending bodies funded equity foreign sponsors copyright 2000 dow jones company inc rights reserved usa el paso says expect enron bankruptcy 11 07 2001 reuters english news service c reuters limited 2001 houston nov 7 reuters energy company el paso corp said wednesday expect beleaguered competitor enron corp file bankruptcy ralph eads heads el paso merchant energy business includes electricity natural gas marketing trading told analysts meeting houston prospect enron bankruptcy remote el paso gained market share enron recent weeks result companies reluctance business enron eads said added el paso scaled back business dealings enron eads said el paso expect enron problems result domino effect could lead reduced liquidity u electricity natural gas markets scenario troubling analysts investors recently el paso chief executive bill wise told meeting broadcast internet el paso might interested acquiring energy assets enron interested acquiring equity stake rival company reported seeking injection new capital copyright 2000 dow jones company inc rights reserved energy traders icing enron shares trade 9 year lows 2 nd straight day lisa sanders cbs marketwatch com last update 1 47 pm et nov 7 2001 new york cbs mw amid mounting questions enron liquidity creditworthiness players energy trading business already begun limit exposure embattled power merchant revelations came wednesday enron stock ene news chart profile plunged 24 percent following news standard poor cut ratings company credit linked notes two notches junk status everybody trying balance exposure enron best said energy trader spoke condition anonymity means business minimizing business enron 1 4 energy trades traders attempts isolate company underscore concerns stability overall energy trading market enron involved 1 every 4 trades however industry watchers confident energy market survive houston based enron disappear even though quote unquote make market market exists whether enron said phil flynn senior markets analyst alaron com think end energy trading another thing coming enron shares trading levels seen since 1992 saw stock fall 2 27 7 40 afternoon volume 58 million wednesday standard poor last week downgraded enron corporate credit rating cut rating credit linked notes enron credit linked notes trusts bbb bbb plus p also added watch negative designation meaning rating agency poised issue downgrades warranted creditwatch placements recognize uncertainties surround company credit quality short run due possibility anticipated developments capital markets rating agency wrote wednesday downgrade affects 500 million worth notes derivatives linked enron senior unsecured debt rated bbb investors taking risk enron credit purchasing securities trusts even though issued enron said tom fritz standard poor managing director addition standard poor cut bbb yosemite securities co series 2000 obligations use enron corporate rating backstop counterparty yosemite credit linked notes citibank fritz said last week j p morgan joined salomon smith barney along citibank unit citigroup c news chart profile extend 1 billion new credit enron help company liquidity business usual downgrades business usual energy trader said already process losing counterparty contributed good deal liquidity energy trading market trader cited calpine cpn news chart profile dynegy dyn news chart profile el paso energy epg news chart profile energy traders chance gain market share conceded enron replaced overnight cease exist energy trading destroyed trader said certainly diminished gone enron absence would make difficult lesser creditworthy companies participate market exchanges new york mercantile exchange intercontinental exchange may gain higher profile trying establish clearinghouse unregulated market derivative energy transactions nymex already futures news enron preparing close asian broadband telecommunications business part global restructuring comes company seeking capital infusion much 2 billion help financial crisis see previous story poor demand broadband exacerbated falling prices requiring enron consider best options managing global broadband business according recent company memo obtained cbs marketwatch com lisa sanders dallas based reporter cbs marketwatch com legal group plans suit void california power contracts 2001 11 07 14 20 new york legal group plans suit void california power contracts escondido california nov 7 bloomberg conservative legal foundation said file lawsuit tomorrow void long term contracts california signed power generators claiming put unfair burden taxpayers united states justice foundation intends sue sacramento county superior court said richard ackerman lead counsel case group usjf wants court terminate long term power contracts require money already paid generators returned state usjf proposes class action represent california taxpayers alleges violations state business open meeting laws ackerman said group may need forge new law succeed case gon na serious legal battles may go appeals level case ackerman said california officials last spring signed 43 billion long term power contracts two investor owned utilities became insolvent governor gray davis said contracts needed bring stability california energy market since cost power dropped leaving california contracts buy electricity spot market prices enron corp southern california edison company pacific gas electric company green mountain energy san diego gas electric company reliant energy company pacificorp power marketing inc alliance colton llc calpine energy company electricity contracts state according usjf press release usjf said sent letter california officials giving notice intent sue group calls conservative voice courts web site supported individual donations ackerman said michael b marois sacramento 916 503 1612