enron mentions 11 24 01 11 25 01 accounting peer review gets scrutiny new york times 11 25 01 alternate reality new york times 11 25 01 new york told drop dead new york times 11 25 01 dot com dot gone dream new york times 11 25 01 california wary dynegy bid buy enron energy companies prominent players state power market move combine strength raising concerns los angeles times 11 25 01 enron troubles could spur securities reforms los angeles times 11 25 01 enron says still talks possible investors cash bloomberg 11 25 01 enron money woes raise concerns los angeles times 11 25 01 hooked fast growth habit ceos reach double digit results despite downturn making costly mistakes washington post 11 25 01 usa enron employees sue pension savings evaporate reuters english news service 11 25 01 india press aditya birla may buy enron dabhol stake dow jones international news 11 25 01 companies finance uk enron seeks survival pact aid dynegy 9 bn rescue financial times 11 24 01 equity markets power companies pack punches wall street financial times 11 24 01 world stock markets wall st loses shine blue chip rise financial times 11 24 01 wait dark new york times 11 24 01 heartened holiday shopping shares rise quiet day new york times 11 24 01 dynegy scrambles save enron deal energy shares acquisition target fallen 45 since merger announced analysts say companies might renegotiate los angeles times 11 24 01 lawsuit slows msn broadband roll internet action partner enron hurts sales important holiday season analysts say service reached 33 45 targeted markets los angeles times 11 24 01 review could alter terms enron sale dynegy chicago tribune 11 24 01 business blue chips turn strong day reversing profit taking sessions san jose mercury news 11 24 01 dynegy advisers pore enron details deal san jose mercury news 11 24 01 workers nest eggs devastated portland oregonian 11 24 01 analysis travails enron corporation npr weekend edition saturday 11 24 01 dynegy right enron pipeline may disputed barron says bloomberg 11 24 01 deal still enron shares drop 6 houston chronicle 11 24 01 money business financial desk section 3 investing diary accounting peer review gets scrutiny compiled jeff sommer 11 25 2001 new york times page 8 column 1 c 2001 new york times company accounting industry watchdog group examining industry peer review process light enormous accounting problems enron corporation group called public oversight board meet next week consider whether reviews audits conducted accounting firms adequately safeguard public interest according chairman charles bowsher session comes revelations enron overstated earnings nearly 600 million four years inflated shareholder equity 1 2 billion accounting error arthur andersen enron outside auditor decade work submitted periodically deloitte touche peer reviewing one review conducted representative john dingell michigan democrat said letter mr bowsher big five accounting firm ever issued negative report peer review mr bowsher told bloomberg news oversight board would ask peer reviews still kinds failures copyright 2000 dow jones section 4 reckonings alternate reality paul krugman 11 25 2001 new york times page 11 column 1 c 2001 new york times company americans get news tv see heartwarming picture nation behaving well time crisis indeed vast majority americans resolute generous whole story images tv show anything heartwarming full picture would show politicians businessmen behaving badly bad behavior made possible made worse fact days selfishness comes tightly wrapped flag pay attention whole picture start feel living different reality one tv alternate reality deeply hidden available anyone modem makes quality newspapers often find best reporting really going business section business reporters commentators expected view world rose colored glasses economist point view revealing indicator really happening post sept 11 fondness politicians lump sum transfers economese payments contingent recipient actions therefore give incentive changed behavior good transfer meant help someone need without reducing motivation work bad alleged purpose transfer get recipient something useful like invest hire workers tells something congress votes 15 billion aid loan guarantees airline companies penny laid airline workers tells even house passes stimulus bill contains almost nothing unemployed includes 25 billion retroactive corporate tax cuts pure lump sum transfers corporations highly profitable political reporting stimulus debate describes conflict ideologies ideology nothing economic doctrine aware right left says 800 million lump sum transfer general motors lead investment company already sitting 8 billion cash jonathan chait points used question true motives people like dick armey tom delay really believe free markets want take poor give rich know course lump sum transfers since sept 11 also sustained effort cover national emergency open public lands oil companies logging interests administration officials claim sake national security discover also intend reverse rules excluding snowmobiles yellowstone truth becomes clear real state nation tv looks like world war ii though cause 99 9 percent americans war waged small cadre highly trained professionals spectator event home front looks like wartime like postwar aftermath normal instincts nation war rally round flag place trust leaders easily exploited indeed current events bear almost eerie resemblance period world war john ashcroft enacting palmer raids swept thousands immigrants suspected radicalism vast majority turned innocent wrongdoing turned u citizens executives enron seem channeling spirit charles ponzi push open public lands private exploitation sounds like teapot dome also involved oil drilling public land presumably time outright bribes giveaways corporations actually much larger country needs return normalcy mean selective normalcy bush administration wants everyone goes shopping media continue report inspiring stories war news time give american people whole picture copyright 2000 dow jones section 3 market watch new york told drop dead alex berenson 11 25 2001 new york times page 1 column 2 c 2001 new york times company nearly 11 weeks worst terrorist attack history new york discovering much rest united states cares nation business financial center much early hopes nation would rally help city overcome devastating economic impact sept 11 appear misplaced gov george e pataki ill advised pitch 54 billion federal aid dead apparently city struggle get 20 billion president bush promised yes many city economic problems self inflicted municipal work force 250 000 new york employs one seventh many people federal government excluding armed forces support bureaucracy city highest taxes local government america development absurdly difficult even outside manhattan roads bridges mess true sept 11 new york somehow made fact record number new jobs created 2000 according steven malanga senior fellow manhattan institute conservative policy group last seven eight years city economy rebounded way encouraging said attacks changed discouraging people coming crowded places like times square terrorism strikes heart new york said mitchell moss director taub urban research center new york university new york economy built interaction said industries suffered severely new york important employers tourism media advertising financial services due cuts even attacks last month city lost 79 000 jobs record slowdown blown hole city state budgets precariously balanced best times citizens budget commission nonpartisan fiscal watchdog organization predicts city face budget deficit 4 billion next year mayor rudolph w giuliani asked city agencies cut budgets 15 percent cuts coming libraries close earlier parks dirtier city workers asking big raises accept layoffs pay cuts even city get hole alone taxes already high reach much deeper citizens pockets limits much cut services little federal help would go long way toward righting city budget gap restoring confidence new york mr moss suggests federal government take two steps show commitment city first help create hub lower manhattan would connect transit lines new jersey long island subway second support security zones high profile securities firms media companies could congregate wished least appears washington let new york sink swim decision foolish economic symbolic reasons new york right securities firms among important employers likely move jobs london hong kong chicago atlanta new york streets grow dirty crime rate soars countries may question washington promises aid try deter terrorism government bother aid largest city wake worst terror attack history really much islamabad cairo federal government give aid state local governments level people live get government services asks james parrot economist fiscal policy institute labor backed research organization worse unseemly lawmakers offering pass tax bill give billions dollars companies like enron b refusing send new york money city already promised whisper word unpatriotic copyright 2000 dow jones section 9 dot com dot gone dream john schwartz 11 25 2001 new york times page 1 column 2 c 2001 new york times company mark leibovich recalled day 1999 showed early appointment washington dot com mr leibovich reporter washington post interview company executives got time see c e wheeling foosball table lobby give impression high tech firm possessed desired quantum wackiness silicon valley counterparts famous much even popular obsession dot com revolution fading year seems simply winked since mid september firemen warriors become new heroes e commerce whiz kids consigned cultural boneyard much year ago boosters new economy true believers press claiming changed rules tech fetish magazines like wired self styled cultural arbiters like new york magazine declared 1990 e decade 1999 cover story essayist michael wolff failed dot com executive announced brave new world elusive center e experience fantasy might become free economic laws wrote takes make otherworldly riches desire enough make money make history history day old idols seem fade dim past barely recollected country languages revolution warfare longer business metaphors next step bursting dot com economic bubble bursting cultural bubble end nerd crossover hit p zillionaire role model college students changing guard seen little things like henry blodget industry analyst became famous predicting early amazon com would reach 400 share announcing taking buyout leaving merrill lynch grand old age 35 like growing wave books focus dot com path riches wild plunge abyss failed sell dreams attempting sell failure documentary rise fall silicon alley company chronicled startup com sebastian nokes released last winter books former dot com executives arriving stores two first public offering rebel story business excess success reckoning stephan paternot founder theglobe com dot bomb days nights internet goliath j david kuo another coming soon boo hoo chronicle spectacular failure boo com luxury fashion site burned 185 million investors cash online life six months told profligate founders mention mr blodget writing book part however flood dot com failure stories met national yawn tell books bounced around amazon com rankings without making inroads best seller territory former idols feet clay public offering book written amateurishly company run need image mr paternot dancing night away plastic pants ellen degeneres new sitcom ellen show built around notion executive returning hometown collapse dot com show sits miserable ranking 93 rd season behind emeril celebrity chef comedy despite ms degeneres considerable appeal amitai etzioni sociologist george washington university country experiencing abrupt cultural shift away libertarian individualistic values expressed celebration new economy toward old fashioned values wake terrorist attacks government problem people market sea change said surge charitable giving blood donations sept 11 said underscores sense willing give priority common good public safety public health paulina borsook author cyberselfish critical look dot com values published last year said people really crave reminder human bonds sacrifice fellowship getting know time changing jobs every six months getting stock options 90 college students hoping emulate marc andreessen netscape geek stars migrated silicon valley new york silicon alley thin resumes visions testarossas dancing heads changing said thomas field director center humanities university maryland baltimore county many young adults see coming campus say want fulfilling jobs ways earning money said sounds awfully familiar come 60 generation professor field suggested protests globalism sense security flourished boom made young people willing question status quo take chances p frenzy said students could wait get school begin earning year many students chosen study abroad china nepal india egypt country dot com denial ms borsook said adding one wants admit caught attitude calls want think drank kool aid good riddance said thomas frank author one market god extreme capitalism market populism end economic democracy book withering attack ideas underlying selling new economy says co opted hipness language populism serve greed gain book come paperback new afterword going take time sink mr frank said dow going go 36 000 dot coms going come back lot people lost lot money though dot com executives might seem irrelevant days technologies sold large pointed paul saffo analyst institute future menlo park calif people stopped using internet said fact changing world changed world people expect able buy book make airline reservation middle night washed rest lives kevin kelly longtime editor wired magazine helped create heroic ethos surrounding dot com entrepreneurs acknowledged came tumbling towers mr kelly insisted people would rise generation tyro executives crashed burned got better business education could gotten harvard b said set learn boy much smarter predicts last decade layup true cultural revolution come could specific words may strike many dot com hyperbole takes special kind gall people argued long boom suspended laws economics even unraveled cycles history fall back analysis historical cycles support arguments believe less goes american grain argued jason mccabe calacanis editor defunct silicon alley reporter dot commer seen today scam artist reborn said smarter tougher represents optimism belief future individual future future economy going better five years today still take look book radical e glenn rifkin joel kurtzman offers lessons rule web bust extols companies truly understand marry world wide web business five tumultuous years hype hysteria authors promise real advent web e business one book chief examples company right enron news lot lately though astute exploitation e commerce enron trades energy via web seen stock collapse 90 percent photos giants e commerce walked among us culturally extinct war reuters pg 1 sure thing ellen degeneres left cloris leachman sitcom dot commer moved back home show ranks 93 rd monty brinton cbs pg 4 copyright 2000 dow jones financial desk california wary dynegy bid buy enron energy companies prominent players state power market move combine strength raising concerns nancy rivera brooks times staff writer 11 25 2001 los angeles times home edition c 1 copyright 2001 times mirror company dynegy inc houston hailed hero wall street rides deliver cross town rival enron corp self inflicted ills save energy markets serious distress proposed 9 billion buyout world largest energy trader california dynegy different image dynegy co owner several southern california power plants quietest member big five group energy producers commonly portrayed villains california politicians regulators gov gray davis others called dynegy fellow energy suppliers gougers pirates manipulated market charged much electricity precipitating california blackout studded energy crisis partly heightened political sensitivities things surrounding california energy problems state expected play central role proposed merger dynegy enron antitrust experts others say state attorney general office already begun scrutinizing proposed combination merges enron another favorite davis target dynegy would powerhouse energy trading electricity generation natural gas transmission combined firm would strong presence california find troubling would hope people look antitrust implications would consider one carefully said state sen steve peace el cajon one architects california failed foray electricity deregulation became fierce critic power producers resellers anything dynegy would even stronger position able manipulate markets dynegy agreed nov 9 buy enron stock swap valued 9 billion inject 2 5 billion crumbling enron provided cash rich chevrontexaco corp san francisco based oil company owns nearly 27 dynegy continuing trickle disturbing financial disclosures keep slamming enron stock price indicating investors doubts deal completed negotiated enron purchase would hurl dynegy quarter enron size top ranks energy merchants california energy world dynegy already key company every significant twist state energy crisis dynegy although visibly power plant owners electricity resellers enron reliant energy inc also houston duke energy corp charlotte n c drew particular fire politicians consumer advocates last 18 months energy leaped higher dynegy also accused state grid operator reaping excessive profit electricity bidding practices lesser extent holding back electricity southern california power plants addition dynegy signed long term electricity contracts state singled critics containing potentially lucrative clauses requiring state pay emissions costs costs california independent system operator runs long distance power transmission grid serving much state asked federal regulators ban dynegy selling power market prices cal iso made request concerning major power plant owners duke reliant atlanta based mirant inc aes corp arlington va markets power agreement williams cos tulsa okla dynegy sort slid radar said doug heller foundation taxpayer consumer rights consumer activist group dynegy well particularly trading marketing division well course last two years profited wildly part dynegy rejects accusations market manipulation saying played constructive role california marketplace stepping forward one first companies sign long term contracts state need greatest despite electricity debt 300 million owed company state utilities dynegy acted ethically responsibly california said dynegy spokesman john sousa fundamental problem california supply keep demand dynamic energy accused overcharging dynegy created 1984 natural gas trading operation known natural gas clearinghouse take advantage deregulation natural gas prices chief executive chuck watson company expanded natural gas processing distribution electricity generation changing name along way dynegy word created combining dynamic energy california dynegy owns power plants capable generating 2 800 megawatts electricity partnership nrg energy inc minneapolis megawatt supply 750 average homes electricity state big investor owned utilities required sell power plants landmark 1996 deregulation legislation end 1998 dynegy nrg partnership purchased three large power plants long beach el segundo san diego collection 17 small peaker plants southern california edison co san diego gas electric co arrangement partnership nrg operates power plants dynegy markets electricity dynegy bidding practices selling power state markets put along energy producers wrong side state grid operator federal energy regulators among allegations report released march cal iso accused energy producers resellers including dynegy overcharging californians 6 7 billion may 2000 march 2001 power suppliers denied allegations report also found dynegy reaped 32 million monopoly rents may november last year profits beyond competitive market would bear fourth highest total company noted report enron ranked sixth taking 27 9 million profits cal iso said dynegy maximized profits primarily practice known economic withholding bidding electricity prices high would rejected thereby pushing price charged remaining generation sold market dynegy also physical withholding cal iso said meaning company withheld electricity supplies drive price dynegy accused last april hearings state legislators hoarding space key natural gas pipeline california 1998 1999 causing natural gas prices soar dynegy executives testified charge untrue federal regulators ordered 125 million potential refunds first four months year dynegy portion largest among power sellers named representing slightly one third dynegy said prices justified high natural gas prices emissions costs factors dynegy president stephen bergstrom said april company unfairly inaccurately accused withholding power california market repeatedly communicated california policymakers regulators industry officials remain ready willing generate sell power buyers fair reasonable prices able provide appropriate assurances fulfill obligation pay purchases recent report state department water resources backs dynegy assertions prices line rest market first three months year sky high prices pushed edison pg e close insolvency state step buy power customers dynegy sold power dwr average price 239 63 per megawatt hour electricity slightly average 268 90 per megawatt hour charged sellers dynegy portrays minor player california market representing 4 state generation cal iso asking federal regulators revoke dynegy authority sell power market rates said dynegy profited systematically exercise market power significant harm california electric consumers economy decision pending officials reviewing dynegy enron merger closely review companies operations california although enron owns power plants california believed long term contracts generators although spokesman eric thode refused detail addition enron hand 25 energy trades around nation significant portion california thode would detail california operations citing company policy finally enron controls undetermined amount natural gas used generate one third state electricity transwestern pipeline crosses california natural gas marketing trading arrangements largely unregulated energy trading operations many energy watchdogs worried say middlemen enron dynegy drive price power reselling higher prices time lawsuit filed may big five generators lt gov cruz bustamante acting private citizen described way dynegy trading floor working trading floors operated williams mirant reliant duke energy one principal tools defendants used inflate price electricity within respective markets well throughout state california defendants engaged trading electricity futures forwards options risk products effect manipulating inflating price electricity within respective markets suit charged defendants engaged megawatt laundering made trades primary purpose inflating costs electricity within respective markets state examining proposed merger california atty gen bill lockyer begun examining effects merger would california spokeswoman sandra michioku said federal trade commission federal energy regulatory commission also scrutinize merger process dynegy enron expect take nine months senate energy committee chairwoman debra bowen marina del rey said plans urge ferc look beyond traditional measurements much companies market examine inputs market gas pipeline capacity controlled companies gas trading dynegy enron really raises many questions market works bowen said opposition california could severe hindrance merger said garret rasmussen lawyer patton boggs washington c formerly federal trade commission antitrust investigator state chooses could play pivotal role negotiations antitrust settlement federal government microsoft corp said administration quite tolerant mergers action california attorney general could significant chance success rasmussen said merger might reopen contract negotiation proposed merger might give california leverage renegotiate power contract dynegy contains unusual provision state would pay emission costs company incurred said v john white director center energy efficiency renewable technologies sacramento dynegy large san diego plant lacks crucial pollution control equipment said california attorney general needs carefully examine dynegy environmental stewardship activities renegotiate provision long term contract white said dynegy texas least attitude far environment concerned david freemen former los angeles department water photographer associated press copyright 2000 dow jones financial desk james flanagan enron troubles could spur securities reforms james flanigan 11 25 2001 los angeles times home edition c 1 copyright 2001 times mirror company ultimately fall enron corp onetime rising star energy industry may remembered landmark annals securities law shareholder rights firm practices investigation securities exchange commission enron focus numerous shareholder lawsuits seek recover damages 60 billion plunge company value last year enron case could result new securities laws experts say also could result massive damage awards extent stockholder losses shares sold 84 apiece year ago 36 month ago emergence hidden losses sent price reeling downward current levels 5 share stock closed friday 4 71 new york stock exchange significantly two suits enron charge firm top executives breached fiduciary duty loyalty prudence failing inform enron employees dangers company finances employees held enron stock 401 k retirement plans firm troubles raise fundamental questions company owes shareholders management understandable disclosure accounts enron predicament also goes heart u financial system says former sec chairman arthur levitt enron represents lack kind disclosure fundamental maintaining confidence u public markets levitt says enron technically speaking disclosed annual reports proxy statements 1999 2000 existence partnerships cases acquired debt certain equity securities certain enron subsidiaries disclose significance partnerships consolidate transactions reports shareholders sec references partnerships footnotes financial statements written arcane legal language typical documents example disclosure one partnership ljm cayman read part ljm received 6 8 million shares enron common stock subject certain restrictions enron received note receivable certain financial instruments hedging investment held enron enron entered least 33 partnerships attracting investments pension funds investors return pledges enron stock guaranteed value one partnership held 12 million enron shares one point worth 1 billion yet year enron treated partnerships insignificant overall business required included overall accounts treating partnerships non consolidated subsidiaries enron could report lower debt burdens actually thus strengthening credit enabling grow largest energy trader world enron became pioneer energy trading way using financial techniques trading forward commitments natural gas electricity establish future prices long term supply contracts business boomed enron revenue soared 20 billion 1997 100 billion 2000 three quarters year firm course exceed 200 billion revenue october enron announced lost 600 million third quarter needed reduce shareholder equity 1 billion due transactions one partnerships nov 8 enron restated accounts back 1997 acknowledging partnerships included company accounts along restatement resulted reduction reported profit 500 million enron board directors auditors ordered restatement firm said stock price fell lawsuits ensued enron sought refuge merger dynegy inc enron financial position stock price weakened since merger announcement nov 9 dynegy deal may go reduced price says analyst stanley foster reed runs mergercentral com online information service question remains large significant company could collapse little advance notice enron prominent company least chairman kenneth lay connections white house formal energy advisor first bush administration informal advisor current bush administration firm 20 000 employees recent layoffs millions investors holdings pension funds california public employees retirement system college teachers retirement plan tiaa cref major mutual funds yet prominence enron disclosures business inadequate disclosure sounds like technical term principle behind laws passed 1933 subsequent years regulate securities markets protect public companies issuing stock raise financing public investors required disclose accurate complete information business accounts certified independent public accounting firms sec created 1933 could stop company issuing stock could make disclose relevant facts risks business laws written midst great depression followed 1929 stock market crash designed remedy abuses case charles mitchell head city national bank predecessor firm today citgroup sold company shares short bet price declining crash without informing shareholders securities laws mitchell legal requirement disclose activities laws passed top managers directors public companies legal fiduciary duty enron case probably lead new laws regulating investments subsidiaries experts say sec staff contemplated regulations past never made law fallout enron could lead tighter restrictions firms putting stock employee retirement accounts also could lead tighter regulations statements top managers condition business case major issues concealment shareholders says san francisco attorney steven siderman preparing class action lawsuit enron arthur andersen enron accounting firm enron executives gave indication company troubles late august jeffrey skilling president chief executive six months abruptly resigned response questions trouble company skilling said nothing disclose company great shape lay stepped back top post told employees august enron business strong got lot great stuff going getting credit marketplace lay said however lay skilling selling enron stock year point lay cashing 140 million stock options skilling 60 million options meanwhile employee 401 k accounts heavily laden enron stock frozen year firm changed account managers employees stuck stock plummeted principle behind securities laws management public company many employees pensioners institutions depending public trust charge lawsuits filed enron firm executives directors betrayed trust everyone entitled fair trial enron executives surely many days court months years come defend charge betrayal shareholders employees enron case landmark james flanigan reached jim flanigan latimes com graphic restated mostly reduced los angeles times copyright 2000 dow jones company inc rights reserved enron says still talks possible investors cash 2001 11 25 17 36 new york enron says still talks possible investors cash houston nov 25 bloomberg enron corp said talks continuing potential investors infusion much 1 billion biggest energy trader tries avoid collapse planned purchase dynegy inc investment would ease concern enron weakened finances may prompt dynegy pull renegotiate terms transaction valued 23 billion stock assumed debt enron seeking additional 500 million 1 billion cash divulge details going discuss particulars talking said enron spokeswoman karen denne shares houston company fell 48 percent past three trading sessions friday closing price 4 71 stock sells less half 10 85 dynegy slated pay acquisition sign investors skeptical transaction go planned enron likely approached kohlberg kravis roberts co blackstone group carlyle group private equity investment said industry analyst david snow net firms declined comment conference call nov 14 enron chief financial officer jeffrey mcmahon said company talks several private investors expects receive 500 million 1 billion sources wednesday enron got three week reprieve lenders 690 million note due week giving company time restructure finances dynegy chief executive chuck watson said encouraged commitment extend note payment well closing 450 million credit facility said dynegy remained committed purchase enron already received 1 5 billion cash nov 13 chevrontexaco inc part dynegy buyout agreement return dynegy acquire preferred stock rights enron unit owns northern natural gas pipeline barron reported weekend dynegy may difficult time walking away deal right pipeline might challenged j p morgan chase financial desk enron money woes raise concerns 11 25 2001 los angeles times home edition c 5 copyright 2001 times mirror company fitting sanctimonious kenneth lay arrogantly lectured california electricity consumers past spring realities deregulated 21 st century energy environment seen company fall prey arrogance visionary fallen grace james flanigan nov 10 californians allow wry smile news u justice department building case escort lay cohort jeffrey skilling prison cell pocketing 200 million converting stock options prices vastly inflated cooking books enron last five years noel johnson glendale california taxpayers billions dollars due failed concept deregulating electric industry would save us money bringing us benefits free market managed private enterprise enron one free market energy companies supposed depend give us electricity reasonable cost apparently lost 1 2 billion equity along unexpected loss 618 million enron takeover talks dynegy nov 8 implications clear californians gouged one companies receiving new found wealth amazingly lost clearly private industry panacea going back regulated monopoly stephen rynas duarte copyright 2000 dow jones ceos reach double digit results despite downturn making costly mistakes steven pearlstein washington post staff writer 11 25 2001 washington post final hol copyright 2001 washington post co rights reserved point almost help become addiction top executives corporate america delivering double digit earnings growth year year longer simply corporate engineers call stretch goal organization rare achievement celebrated become mandate benchmark test corporate manhood expectation hard wired corporate culture narcotic company leaders reach way people reach aspirin never mind economy contracting prices falling profit margins getting squeezed industries unlikely grow 5 percent year even recovery name game days boosting stock price surest way promise deliver double digit profit growth wall street cadre analysts money managers tech telecom sectors inflated growth expectations first took root addiction double digit growth spread across corporate landscape firms older mature industries desperate growth company moniker qualifies wall street highest reward stock price equal 20 30 even 40 times expected annual earnings 1990 went period extraordinary high growth profitability managers stock analysts unthinkingly come conclusion norm said michael jensen professor finance harvard business school top level management came believe could get big company grow 20 30 40 percent year year insanity process trying make real rather acknowledging transitory phenomenon wound destroying shareholder value rather enhancing jensen said common wall street earnings expectations starting point corporate budgeting strategy setting rather result nothing could irresponsible said james paulsen chief investment strategist wells capital management minneapolis says fascination high growth rates peaked 1999 height stock market boom 50 stocks standard poor 500 stock index hottest 50 growth companies actually went value fact nifty 50 went much lifted overall market indexes 450 stocks declined point investors paying growth paulsen said dividends good cash flow reliability meant nothing growing stodgy 8 9 percent year neglected ignored said jeremy siegel finance professor wharton school management university pennsylvania get good valuations desperation boring old electric utilities refashioned merchant energy companies highly profitable pork producers added new product lines order viewed ready eat food companies perfectly good retail companies threw millions dollars misguided web ventures dot com bust broader stock market collapse past year many executives investors analysts claim learned lesson reduced expectations growth according siegel paulsen experts expectations remain unreasonably high historical standards many executives investors analysts believe business temporary lull norm double digit growth reasserts sometime next year people expectations still way optimistic said bill miller legendary manager legg mason value trust 12 billion mutual fund david nadler chairman mercer delta consulting says tyranny growth continues lead many companies expand quickly make ill advised acquisitions diversify areas expertise experience shareholders wind paying dearly mistakes said indeed many celebrated corporate crackups past year think conseco inc costly foray manufactured home financing providian financial corp debacle sub prime credit card lending freightliner llc truck glut record 50 billion write acquisition costs jds uniphase corp came result companies trying push earnings growth limit corporate executives certainly plenty incentive play growth game whether consciously unconsciously multimillion dollar compensation packages include bonuses stock stock options tied directly growth earnings share price rising stock price gives valuable new currency currency used buy short term earnings growth mergers acquisitions offer valuable stock options recruiting top management technical talent stock option particularly pernicious impact according david morrison vice chairman mercer management consulting inc co author profit zone options become valuable price company stock rises point options issued hand things go bad matter much price stock goes strike price value remains zero result asymmetry upside potential downside risk says morrison common executives take bigger risks companies otherwise would ego also plays role chief executives deliver year year double digit earnings growth wind lionized business books magazine covers cable tv news shows invited serve corporate boards speak investor conferences organized celebrity analysts boards directors give wide latitude running company contrast ceos good growth story tell deliver risk finding early retirement jeff garten dean yale school management recently interviewed 40 leading corporate chief executives new book mind ceo often garten said executives told record knew expectations earnings growth often unreasonable unsustainable choice participate risk dismissed someone simply get system penalized anyone play game garten said result executives find treadmill always desperate search ways deliver next increment growth justify unrealistic earnings expectations complicit analyst william steele said seen time consumer products sector follows bank america securities inc companies always solid singles hitters suddenly started swinging fences seen companies making ill advised acquisitions abusing balance sheets taking much debt issuing much stock investing brands said steele take case freeport ill based newell co 30 years enjoyed steady earnings growth buying underperforming housewares companies newellizing bringing new management cutting costs scrapping unprofitable products consolidating distribution winning space retail shelves late 1990 75 acquisitions included calphalon cookware levelor window blinds rolodex card files number good turnaround prospects dwindled growth sales consumer products slowing single digits newell executives needed something would keep double digit territory something thought rubbermaid years one respected companies among executives investors one stumbled badly beginning 1996 far away newell biggest acquisition bought newly issued newell stock valued 5 8 billion 50 percent premium rubbermaid market price time rubbermaid deal closed spring 1999 newell rubbermaid financial performance declined ever since reflection slowing economy problems within company total profits combined firm barely higher acquisition debt taken new shares issued finance purchase best measures financial performance earnings per share return assets declined company repeatedly failed meet quarterly sales growth target promised wall street chief executive john j mcdonough fired october last year given history current economic uncertainty continued weakness quarterly earnings one might think newell new executive team would steer clear making grand promises wall street june barely six months job new chief executive joseph galli jr told wall street analysts restructuring program instituted would allow company post 15 percent earnings increase 2002 26 analysts say stock price reflects expectation newell rubbermaid meet double digit growth target interview last week william alldredge newell chief financial officer explained 15 percent growth target next year reasonable company profits year next year compared depressed going forward however acknowledged growth rates would closer 10 percent 15 percent would come squeezing profit existing brands rather acquisitions sure see enormous upside potential said alldredge insisted nonetheless wall street continue value newell rubbermaid growth company day old fashioned chief executives warren buffett remain puzzled executives still resist urge promise investors particular level earnings growth given uncertainties running business annual report shareholders berkshire hathaway inc february noted handful companies ever able sustain 15 percent earnings growth decade promises said spread unwarranted optimism among investors said corrode behavior top executives cases behavior corrosive spills deceptive accounting turns chief executives sunbeam xerox waste management enron lost jobs recent years major league earnings overstatements uncovered watch buffett berkshire hathaway significant investor washington post co like berkshire provides earnings guidance wall street investors james johnson former chairman fannie mae heard criticisms even add said every company overpromised overreached others focus earnings growth led breakthrough innovations successful new corporate strategies big gains productivity makes american capitalism unique successful said johnson whose ability deliver promise double digit earnings growth every year one led dramatic increase fannie mae stock price tenure also made johnson rich man tricky balance said david winters president chief investment officer mutual series fund inc new jersey based mutual fund want companies sleepy set bar low easily step want companies overpromise underdeliver certainly chief executive took goal posting double digit earnings growth year seriously john f welch jr recently retired chairman general electric co jack welch watch division managers failed contribute corporate goal routinely fired divisions sold critics charged unrelenting pressure led occasion accounting gimmicks questionable business practices charge welch repeatedly denied yet according noel tichy professor university michigan business school demand double digit earnings growth year year forced managers ge old line manufacturing divisions get growing profitable business servicing financing turbines medical equipment made know would ever right decision try grow fast said tichy co author book titled every business growth business even acknowledging companies known dumb things pursuit earnings growth good ones goals force executives stretch organization optimize performance tichy said business guru james collins disagrees new book good great collins argues companies sustain really high growth rates long periods time set growth explicit goal rather collins says best companies operate less corporate bravado determination understand business success capitalize understanding great companies come ceo wants celebrity please share flippers certainly wants hit top targets compensation plan collins said last week common thread among ceos truly great companies ambition build something outlast growth comes byproduct harvard jensen said way lick corporate america growth addiction executives muster courage stand wall street begin setting realistic expectations companies strategy might occasionally require ceo tell investors company stock overvalued truly novel idea today environment executives almost reflexively complain share price low might require executives companies make clear stock may inappropriate growth funds hedge fund managers companies generally get shareholders deserve said miller legg mason money manager norman augustine retired chairman lockheed martin corp warns standing wall street may easy sounds sit around complaining short term mentality wall street fund managers say dump stocks show double digit earnings growth every quarter augustine said manager corporate pension fund comes says two funds well us quarter dumped augustine said met enemy us http www washingtonpost com copyright 2000 dow jones company inc rights reserved usa enron employees sue pension savings evaporate andrew kelly 11 25 2001 reuters english news service c reuters limited 2001 houston nov 25 reuters climbing utility poles kinds weather 35 years roy rinard hoping retire years collapse enron corp stock price devoured retirement savings basically wiped said rinard 54 works portland general electric oregon utility company acquired houston based energy trading giant 1997 right back ground zero go working long said rinard suffers arthritis lung condition leaves short breath encouraged enron strong performance company bullish view future prospects rinard moved money invested 401 k retirement account enron stock earlier year proved costly decision value account fell 470 000 year ago around 40 000 today rinard hopes lawsuit filed u district court houston recover least money suit filed behalf enron employees seattle based law firm hagens berman alleges enron breached fiduciary duty encouraging employees invest heavily enron stock without warning risks enron stock peaked 90 august 2000 closed 4 74 friday falling sharply recent weeks amid series damaging financial disclosures broadly similar suit filed keller rohrback law firm also seattle based alleges another enron employee pamela tittle lost 140 000 enron stock held retirement account according suit enron retirement savings plan assets worth 2 1 billion end last year including 1 3 billion 62 percent total enron stock doubts emerge dynegy deal enron former wall street favorite agreed bought earlier month smaller energy trading rival dynegy inc continuing problems enron caused analysts question whether deal completed doubts also expressed planned sale portland general northwest natural gas hagens berman plans seek class action status suit says 21 000 enron employees could eligible join suit alleges enron locked 401 k retirement accounts oct 17 preventing employees changing investments held accounts nov 19 period enron reported first quarterly loss four years took charge 1 2 billion stockholders equity result balance sheet deals would later come investigation u regulators time enron shares fell 30 72 close trading oct 16 11 69 nov 19 enron spokeswoman karen denne said employees access accounts blocked part previously planned change administration retirement plan measure effect oct 26 nov 19 steve lacey 45 year old emergency repair dispatcher worked portland general electric 21 years said measure came time bad news enron flying thick fast driving stock price dizzying pace take money enron stock another portfolio basically us locked say future said lacey declined quantify losses said many colleagues invested retirement funds enron stock performed better past investments available enron plan denne said enron employees normally able choose among 18 different investment options enron matching contributions always made form stock lacey said felt sorry older colleagues portland general suffered heavy financial blow due retire adding beginning realize serious consequences could goal extremely comfortable retirement may little clouded said copyright 2000 dow jones company inc rights reserved india press aditya birla may buy enron dabhol stake 11 25 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 company inc rights reserved companies viability company question enron shares fell 4 74 5 4 per cent drop shortened session trading yesterday morning new york investors continued express concern dynegy commitment deal john olson vice president research sanders morris harris houston based investment banking securities firm said enron trading 4 bucks change might make sense go bankruptcy salvage thing right way observers close enron say wednesday decision jp morgan chase citigroup finalise 1 bn secured credit line deferral 690 repayment notes due next tuesday reduced pressure group dynegy renegotiate terms deal may depend legal clauses within original merger agreement would affect enron financial situation say well negotiating lenders weekend enron also seeking investments jp morgan chase citigroup private equity firms attempt shore confidence www ft com enron c copyright financial times ltd rights reserved http www ft com copyright 2000 dow jones company inc rights reserved equity markets power companies pack punches wall street andrew hill 11 24 2001 financial times c 2001 financial times limited rights reserved equity markets power companies pack punches wall street another mega merger enron sudden decline epitomise volatile year says andrew hill short week wall street appeared long week energy sector industry everything oil electricity succeeded delivering stinging surprisesto us economy year last sunday conoco phillips petroleum jolted merger acquisition specialists torpor year biggest deal 35 bn merger equals create third largest integrated energy company us sixth largest world coincidentally monday chevrontexaco feted consummation merger new york analysts meeting david reilly combined group chief executive promised annual savings 1 8 bn 2003 greater originally expected whether sector needs another clumsy baptism fruit sunday announcement inevitably saddled name conocophillips really issue consolidation began 1990 left medium sized energy companies conoco phillips little option except combine resources exploration production order compete super majors exxonmobil volatile oil prices another story week appear add urgency combination although james mulva phillips chairman chief executive denied prime reason consolidation industry learned live volatility companies space three years shrugged concerns would happen crude oil remained 10 barrel extreme worries possibility crude lingering 30 short term fate stock prices sector may depend opec ability snatch victory jaws defeat confrontation norway particular russia calls cut oil output underpin world price oil stocks measured philadelphia oil service index turbulent time since september 11 plummeting initially rally back levels terrorist attacks slump wrangling opec non opec oil producers burst open chevrontexaco one seemed unperturbed stand want stable price environment want business reilly said monday talking oil price might easily referring energy stocks energy related industries utilities pipelines make six 10 worst performing sectors past month according dow jones data analysed cbs marketwatch none however fallen pre cipitously publicly enron energy trading company share price close wednesday 5 01 44 per cent week 94 per cent 52 week high nearly 85 remember company outperformed nasdaq composite index even tech heavy index rose march 2000 peak enron stayed stratospheric levels price valuation even dotcoms whose magic dust online trading operations borrowed fell earth process ability pioneer new trading markets bandwidth made envy wall street broker dealers jealous trading bravado share rating two wall street giants jp morgan chase citigroup helping prop group laid low failure disclose adequately balance sheet transactions carried part rapid expansion banks advising enron rescue bid dynegy smaller rival energy group part owned chevrontexaco backing 1 bn credit secured pipeline assets trigger week sharp decline enron regulatory filing late monday revealed first time shaken shareholders bondholders group would repay 690 notes next tuesday downgrade 10 days ago standard poor wednesday announcement enron managed postpone deadline middle next month seemed little allay crisis confidence group ability repay heavy debts ahead thanksgiving holiday share traders seemed want hold stock fell 28 per cent wednesday alone electricity gas counterparties also wary entering long term contracts markets enron helped pioneer enron debacle reminder quickly fortunes change earlier year well connected politically influential houston based group powerful enough accused californians playing key role provoking electricity crisis west coast enron shares bonds trading though may go bust could drag weaker energy companies role market maker supplying liquidity power gas markets worst fears wall street bankers realised may even repercussions wider financial markets enron lays risk price fluctuations using derivatives andrew hillft com c copyright financial times ltd rights reserved http www ft com copyright 2000 dow jones company inc rights reserved world stock markets wall st loses shine blue chip rise andrei postelnicu 11 24 2001 financial times c 2001 financial times limited rights reserved low volumes took shine blue chip rally wall street shortened session children allowed annual visit trading floor new york stock exchange dow jones industrial average put 125 03 9 959 71 earlier close p 500 index added 13 27 1 150 30 tech heavy nasdaq composite gained 27 96 1 903 01 leading gains dow eastman kodak 3 1 per cent 29 91 general motors 3 1 per cent 47 70 american express 2 3 per cent 34 29 fractional losses philip morris caterpillar home depot bucked positive trend benchmark average oil stocks higher despite disappointment russia offer cut daily production 50 000 barrels prospect lower crude prices failed depress sector chevrontexaco fractionally 86 66 anadarko 1 4 per cent 54 14 exxonmobile also 1 4 per cent 38 42 enron bruised energy trading group lost 5 1 per cent among mounting worries dynegy 9 bn agreement take company retailers saw gains known black friday day americans flock malls shops search holidays gifts k mart 3 3 per cent 6 79 dillard added 2 8 per cent 15 48 federated department stores 3 6 per cent 38 47 sears roebuck gained 2 4 per cent 45 34 ericsson swedish mobile telecommunications group saw adrs gain 5 75 per cent 5 52 chief executive said company expecting fewer competitors third generation mobile telecommunications market adrs rival nokia among volume leaders nyse 2 1 per cent 24 15 amid scant corporate news e communications telecom services company 11 2 per cent 17 8 announced previous session close would buy conestoga enterprises 273 3 cash stock combination two conestoga shares gained 22 79 per cent 29 90 toronto edged lower early trading energy stocks ran selling p 300 composite index per cent midsession latest attack nerves crude oil prices sparked bear run energy stocks alberta energy fell c 1 95 c 58 55 talisman energy c 1 05 c 55 70 technology leaders little changed light trading nortel networks hardened 2 cents c 12 62 among latin american markets sao paulo continued push higher early trading bovespa index 2 6 per cent 13 355 37 midsession c copyright financial times ltd rights reserved http www ft com copyright 2000 dow jones section journal wait dark frank rich 11 24 2001 new york times page 27 column 1 c 2001 new york times company immediate aftermath sept 11 arab world riveted rumor israel somehow behind attack world trade center al jazeera went far report 4 000 jews given advance notice go work towers day think one american officialdom would anything fan flames noxious fictions underestimating john ashcroft part mass dragnet prompted attacks america attorney general rounded 50 israeli jews detained nearly month pretext minor offenses involving working papers hold israelis evidence linking terrorist activity taking every step prevent future terrorist attacks said justice department spokesman queried tamar lewin alison leigh cowan times reporters broke story israeli detainees wednesday leaving stone unturned given none mr ashcroft 1 200 arrests date whether israeli jews anyone else produced single charge connection mass murders sept 11 seem even looking right quarry blundering handed radical islam propaganda coup war israel bittersweet thanksgiving weekend many reasons feel thankful heroism americans sacrificed lives others george w bush nuanced far effective prosecution war though boisterous nervous nellies right attacking president strategy many even angrier colin powell bill maher gaping fissures country unity los angeles times poll last week shows even democrats support president four one matter read ballots florida yet domestic front exemplified actions mr ashcroft administration acting america inner strength whatsoever working various end runs around laws fearful message clear american democracy weak contend terrorism two three branches government judicial legislative trusted even track heinous enemy operates cave getting ready show world american legal system must retreat cave fight back government refuses identify many detainees explain held even give accurate count next stop assembly line suspects could military tribunal decreed president bush executive order another secret proceeding neither verdicts evidence punishments ever revealed public thus could currently captivity move interment execution without anyone ever learning disappeared sounds like old fashioned american justice albeit americas cuba chile administration really proud grabbing emergency powers skirt law dead night enough congress enhance mr ashcroft antiterrorist legal arsenal legitimately passing u patriot act anyone could read rewrites rules without consulting senators congressmen either party abridged decree freedom information act essential check government malfeasance peace war alike discreetly slipped new directive allowing eavesdropping conversations lawyers clients federal register also refused repeated requests explain congressional committees finally relenting nominal appearance december one house briefing according time magazine told congressmen could call 800 number questions justice kind high handedness secrecy hallmark administration beginning jan 20 sept 11 cheney energy task force faced lawsuit general accounting office rather reveal dealings bush cheney campaign contributors like imploding enron corporation president commission social security reform also bent law meet secret since war began administration gone unprecedented lengths restrict news coverage activities also osama bin laden bush executive order diminishing access presidential papers could restrict future david mccullough michael beschloss reconstructing presidential histories consolidate power mr ashcroft even seized authority mary jo white battle proven u attorney successfully prosecuted 1993 world trade center terrorists bin laden accomplices 1998 african embassy bombings similarly shunted aside state local law enforcement officials keeping dark issuing vague warnings imminent terrorist attacks thanks journalist sara rimer times know one attorney general secret detainees fact local official dr irshad shaikh johns hopkins educated legal immigrant serves city health commissioner chester pa dr shaikh door broken federal agents suspected might anthrax terrorist easy see mr ashcroft wants hide embarrassing fiascoes like also likely attorney general wants hide arrests making along errant ones far anthrax terrorism goes evidence like lethal letter senator patrick leahy increasingly suggests culprit muslim israeli immigrant mr ashcroft fellow cabinet member tommy thompson put week disgruntled american piggybacking islamic terrorism obvious suspects include timothy mcveighesque fringes second amendment cult proudly trade germ war cookbooks gun shows anti abortion terrorist movement history wielding anthrax scares well explosives pursuit cause mr ashcroft pulling say america talibans like army god dragnet seems unlikely given organizations big advertising self martyrdom reported detentions cynic might think domestic extremists share attorney general antipathy abortion gun control opposed likes mr leahy tom daschle receive free pass denied suspicious looking immigrants yet cynicism could dispelled second mr ashcroft trusted public matter former colleagues congress carry brand law enforcement daylight mr ashcroft may abhor openness pursuing political agenda also possible less malevolently trying hide failure getting job done nothing man history either governor senator suggest rudy giuliani assignment calls despite strong arm policing since sept 11 visible results latest scheme spend 30 days interviewing 5 000 immigrants says fit set generic parameters inspires little confidence local police chiefs open revolt mr ashcroft likens robert kennedy also times warped constitutional protections ravenous pursuit criminality among many differences men fact kennedy actually busted criminals another 30 days 5 000 interviews pass breakthroughs knows grandiose new plot mr ashcroft devise civic price make look like dick tracy time americans feel confident war terrorism going well better could expected every ineffectual extralegal move waves anomalous still chilling white flag defeat drawing copyright 2000 dow jones section c markets stocks bonds heartened holiday shopping shares rise quiet day reuters 11 24 2001 new york times page 5 column 5 c 2001 new york times company stocks advanced yesterday holiday shortened session traders snapped retail stocks heartened signs year end shopping season opened strong start discount retailer wal mart stores federated department stores department store operator helped bolster broad market indexes amid light trade deep discounting helped bring shoppers malls despite large job losses slump spending followed sept 11 terrorist attacks traders also said optimistic war afghanistan might end soon reports taliban troops close surrender looks like war traders getting jump everyone comes work monday said mace blicksilver money manager marblehead asset management retailers well mood better added hopes rebound economy corporate profits sometime next year driven market higher recent weeks pulling three year lows followed sept 11 attacks standard poor 500 stock index closed seven past nine weeks dow jones industrial average rose 125 03 points 1 3 percent close 9 959 71 broader p 500 gained 13 31 points 1 2 percent 1 150 34 technology laden nasdaq composite index advanced 28 15 points 1 5 percent 1 903 20 stocks closed higher third consecutive week dow rising 0 94 percent p 500 gaining 1 03 percent nasdaq inching 0 24 percent consumers thronged shopping malls yesterday traditionally busiest shopping day year sign shoppers willing spend discount retailer wal mart rose 68 cents 55 80 federated parent department stores bloomingdale macy gained 1 10 38 21 think going read much said drew forbes trader daiwa securities people cautious treasuries sold sharply last two weeks investors betting swift economic recovery 2002 scaled back hopes 11 th interest rate cut year federal reserve meets december yields rate sensitive two year notes spiked 0 75 percentage point two weeks thirty year bonds yielding treasury surprised markets oct 31 canceling sales issues set huge scarcity rally 10 year treasury note fell 15 32 price 100 note yield moves opposite direction price rose 5 percent 4 95 percent wednesday price 30 year treasury bond fell 20 32 99 31 32 bond yield rose 5 38 percent 5 35 percent wednesday graph tracks dow jones industrial average past year sources associated press bloomberg financial markets tables hot favorites lists stocks held largest number accounts merrill lynch compiled staff reports associated press bloomberg news bridge news dow jones reuters copyright 2000 dow jones financial desk dynegy scrambles save enron deal energy shares acquisition target fallen 45 since merger announced analysts say companies might renegotiate c bryson hull reuters 11 24 2001 los angeles times home edition c 1 copyright 2001 times mirror company houston long weekend work faced dynegy inc proposed acquisition enron corp whose worsening stock woes friday heightened fear deal could renegotiated collapse entirely enron shares fell 30 cents 6 close 4 71 new york stock exchange dynegy shares rose 64 cents 40 40 also nyse dynegy advisors expected spend weekend reviewing rival enron complex books parties race decline enron stock complete thorough financial examinations merger requires houston based dynegy nov 9 agreed pay 9 billion stock enron 45 drop enron shares friday close fears company could run cash deal closes enron market capitalization 4 billion dynegy current stock price offer enron worth 10 85 share twice enron current share price executives advisors companies final stages review known due diligence sources familiar matter said sources said renegotiations discussed friday afternoon discussions could occur review finished turn unpleasant surprises qualify material adverse change enron business likelihood increases dynegy invoking escape clauses renegotiating analysts observers say got believe possibility 90 spread deal one analyst said unquestionably continued malaise enron core business dynegy left open renegotiate enron enron spokeswoman karen denne said knowledge dynegy renegotiating terms acquisition repeated enron working obtaining additional 500 million 1 billion private equity funding help shore balance sheet dynegy spokesman john sousa said due diligence continuing company remains optimistic merger enron recent admission lower volumes trading business crown jewel enron dynegy covets could cause low fourth quarter earnings raises possibility trading business losing profitability electricity traders said latest developments making seem likely dynegy renegotiate deal back move said would leave enron vulnerable creditors possible bankruptcy week rating agency fitch investors said dynegy stepped away merger enron credit situation seemed untenable bankruptcy filing highly possible traders speaking condition anonymity said expected dynegy scramble weekend narrow growing share price gap enron dropping market value shrinking volume enrononline trading system increase likelihood dynegy could pull traders said meanwhile energy traders reiterated would shy away long term deals enron unless received substantial assurances company credit rating would soon improve enron bonds friday talked junk bond levels even lower enron 6 4 notes maturing 2006 6 75 notes bid 57 cents dollar respective 62 cents 60 cents wednesday according trader notes yield maturity respective 21 5 17 20 year zero coupon convertible bonds fell 1 cent dollar 33 cents copyright 2000 dow jones financial desk lawsuit slows msn broadband roll internet action partner enron hurts sales important holiday season analysts say service reached 33 45 targeted markets dina bass bloomberg news 11 24 2001 los angeles times home edition c 2 copyright 2001 times mirror company microsoft corp plan expand msn high speed internet service delayed lawsuit enron corp could cost software giant customers holiday season msn enron help hoped fast internet access telephone lines available 45 markets starting oct 25 instead service available 33 markets including los angeles san diego microsoft spokesman said houston based enron agreed june provide backbone nationwide expansion msn service contends required deliver broadband services microsoft first provided billing ordering system microsoft officials declined comment suit said high speed access partnerships including 14 state deal qwest communications international inc going well delay problematic holidays popular time consumers buy broadband access often new personal computers follows string setbacks roll service microsoft track record picking broadband partners quite work said joe laszlo senior analyst market researcher jupiter media metrix inc definitely hurts customers want broadband right company originally began service northpoint communications group inc bankrupt provider fast web access msn expanded elsewhere working enron competitors msn marketing director bob visse declined name recently msn high speed service expanded san francisco sacramento houston dallas san antonio austin texas msn product manager lisa gurry said microsoft broadband access sale end march 90 households digital subscriber lines neighborhoods msn aimed 90 last month subscribers fast internet access services expected grow fourfold 2006 sales slower access plans decline according jupiter media metrix top internet service provider america online owned aol time warner inc also slow get high speed market analysts said laszlo said msn aol might pay sluggishness tougher competition third place earthlink inc cable telephone companies experience selling high speed internet access america online 31 million subscribers msn 7 million earthlink 4 8 million laszlo think msn america online build kind lead high speed market america online slower dial access market little growth left dial access space microsoft anybody leaves broadband potential growth area said youssef squali analyst fac equities analysts also said microsoft still needs find cable partner let msn use network sell fast access cable lines cable popular dsl customers looking fast web service five largest cable providers control 51 u high speed internet market msn vice president yusuf mehdi said last month company might interested investment corp cable television unit considering selling times staff writer joseph menn contributed report copyright 2000 dow jones n 1 copyright 2001 chicago tribune power companies enron corp dynegy inc advisers scheduled spend weekend poring enron books could lead renegotiation dynegy acquisition embattled enron specter renegotiation pushed enron shares 6 percent 30 cents 4 71 close friday trading new york stock exchange dynegy shares closed 64 cents 1 61 percent 40 40 despite light trading overall market holiday shortened session enron shares trading robustly enron led list heavily traded stocks exchange wide margin dynegy agreed pay 9 billion stock enron falling 45 percent friday close amid fears could run cash dynegy completes buyout enron sports market capitalization 4 03 billion enron shares continuing trade steep discount deal value trading pattern indicates market little faith deal completed announced investment bankers deal final stages due diligence sources say examination enron business turn unpleasant surprises renegotiation deal terms strong possibility enron spokeswoman said knowledge dynegy renegotiating terms acquisition dynegy could reached comment report wednesday ronald barone analyst ubs warburg suggested deal exchange ratio 0 2685 share dynegy share enron could readjusted believe odds enron incurring material adverse change operations soaring suggests assuming dynegy wants continue move forward deal 0 2685 ratio hold wrote barone said much lower exchange ratio 0 15 realistic also possibility enron lower stock price indication traders speculating enron need issue stock stabilize financial position market closely waiting hear news come credit rating agencies downgrade would devastating enron sitting one notch speculative status wednesday fitch inc said maintaining enron credit rating based possibile merger support lending banks glen grabelsky fitch credit policy group said expects enron close additional financing specify time frame would occur enron spokeswoman karen denne said company trying get 500 million 1 billion additional financing copyright 2000 dow jones company inc rights reserved business source world reporter tm six months ago us president george w bush turned california request energy relief many observers believed reason close ties mr bush enron corporation texas biggest us electricity trader enron chief executive mr kenneth lay president biggest campaign contributor 58 year old billionaire ran mr bush texas gubernatorial campaign loaned bush family enron private lear jets contributed dollars 100 000 114 000 towards inaugural gala january mr bush took white house mr lay became powerful voice washington energy adviser helping shape policy enraged environmentalists encouraged mr bush use california stalking horse plans drill new oil federal lands mr lay reputation career lie ruins company fighting survival stock enron considered smartest aggressive company electricity natural gas industries crashed dollars 90 dollars 5 enron controversial financial dealings federal investigation following disclosure massive write offs hitherto hidden partnerships dizzying speed enron fall threatened widespread disruption us energy market dominated whether company survives depends banks commitment rival energy firm dynegy follow offer pay dollars 9 billion stock debt ridden company since scandal broke revealed enron 33 partnerships held billions dollars debt company liable enron needed debt analysts said support expanding levels trading electricity gas however weight debt left company unable maintain credit rating growth high stock valuation revelation partnerships used move debt company balance sheet enron overstated profits past five years almost dollars 600 million shocking enough enron employees however infuriated learned thursday mr lay due get severance package dollars 60 2 million dynegy time value stock options retirement accounts evaporated reaction idea mr lay would profit handsomely merger hostile chief executive forced waive compensation amounting three year severance pay still mr lay personal wealth threatened last year cashed options dollars 123 million since 1989 mr lay accumulated dollars 13 million salary dollars 26 8 million cash bonuses dollars 266 7 million profits selling stock bonus 2000 dollars 7 million award enron board said based rising profits high shareholder return company since admitted improperly applied accounting rules 40 per cent profit 2000 came transactions partnerships controlled enron chief financial officer yesterday shares enron fluctuated wildly concerns grew whether dynegy acquisition plan could changed deal could collapse enron shook markets disclosed monday might repay dollars 690 million debt november 26 th credit ratings lowered wednesday repayment postponed mid december three week reprieve gives company time restructure finances bonds fell amid concern enron would run cash dynegy takeover completed next year enron current cash balance inadequate pay debt repayments dollars 2 8 billion due end december according goldman sachs wholesale trading customers asked enron put cash collateral according fitch ratings agency mr lay son country preacher partner mr jeffrey skilling resigned abruptly enron ceo august used innovative financial techniques 1990 profit increased federal deregulation energy industry financial control mr lay exerted oil gas markets labelled excessive misguided critics enormous effect california disastrous experiment electricity deregulation according los angeles times analysts said enron faced collapse merger dynegy much smaller company fell apart survival depended able restore investors trading partners confidence financial health many energy companies already scaled back dealings enron enron case come securities exchange commission sec chaired bush appointee mr harvey pitt commission look whether enron adequately disclosed risk shareholders partnership deals copyright 2000 dow jones company inc rights reserved business enron price slides amid fear rescue bid carl mortished international business editor 11 24 2001 times london news international final 2 60 copyright times newspapers ltd 2001 shares enron yesterday continued precipitous fall amid fears rescue bid embattled us power group could fall last hurdle shares plunged another 6 per cent taking losses week 50 per cent emerged rival dynegy launched 9 billion pounds 6 billion rescue bid earlier month might try walk away deal dynegy current offer values enron 10 85 share twice group current share price enron troubles aggravated yesterday revelation members company retirement plan filed class action lawsuits company alleging misled risk investing enron shares 401 k retirement plan employees able choose number different investments including mutual funds one option stock company suit alleges trustees enron plan failed inform plan participants company stock peril enron unavailable comment yesterday investment bankers working dynegy offer spend weekend carrying due diligence enron books wall street sources believe advisers might use opportunity renegotiate price worse still walk away bid altogether one analyst declined named said chance dynegy wriggling bid citing material change rising every hour passed copyright 2000 dow jones company inc rights reserved business market report investors fret barclays exposure troubled enron michael jivkov 11 24 2001 independent london foreign 22 copyright 2001 independent newspapers uk limited banking giant barclays found firmly blue chip fallers list yesterday investors fretted group exposure beleaguered us energy group enron talk market barclays 98 p 2 150 p significant exposure company teetering brink collapse last weeks although enron received 9 bn pounds 6 bn rescue approach us company dynegy troubled group seen share price nearly halve since offer tabled led speculation deal collapsed according analysts would leave enron facing bankruptcy bank america also weighed barclays shares broker reduced rating market perform buy meantime upgraded hbos 13 5 p 844 5 p buy market perform argued switch attempt reposition clients perceived barclays international us exposure bank focused uk ftse 100 slipped 52 7 points 5 293 2 largely ignoring gains wall street open half day oils stocks roller coaster ride yesterday made impressive gains start session buoyed norway decision thursday cut production 200 000 barrels day fell back late trade emerged russia would shave 50 000 daily production 7 million market viewed cut far sufficient sending price crude lower shell 4 p 493 p bp 5 5 p 530 p enterprise oil 13 p weaker 451 p analysts credit suisse first boston advised clients sell holdings sector arguing fundamentals industry looking weak man group rose 18 p 1 255 p merrill lynch upped price target 1 750 p 1 500 p reiterated buy rating broker reckons short term pressure fund manager margins applauded fact man charges significant fees also delivers significant performance benefits fees paid gkn lucky slumping 13 5 p 300 p hsbc securities downgraded rating hold add note clients hsbc highlights stock impressive rally 220 p level since late september suggests little run reckons automotive sector gkn operates hit negative newsflow coming months market conditions europe us continue deteriorate television radio group chrysalis jumped 15 p 230 p deputy chairman charles levison disclosed purchase 10 000 shares 215 p media sector generally vogue recent weeks hopes economic recovery retreat investors opted safety defensive plays pearson fell 38 p 827 p bskyb lost 35 p 812 p reed international 13 p 577 p hays fell 9 25 p 202 p dresdner kleinwort wasserstein downgraded hold buy citing concerns volumes group network areas concerns delays new outsourcing contracts german broker also warned hangover last year problems staffing slowdown could lead earnings growth 2002 hays food manufacturer geest rose 20 5 p 669 5 p city analysts visited group lincolnshire sites returned upgrade estimates charles hall westlb said presentation management visit showed growth continues excellent geest starting deliver attractive returns said plants visited well invested good anything seen industry princedale rose 3 5 p 19 5 p plastics manufacturer received 20 p per share cash bid valuing group pounds 15 offer represents premium 25 per cent previous session closing price boilers workspace solutions group bullough fell 2 25 p 19 p warning significant full year losses unveiling job cuts group also said well known value investor peter gyllenhammar join board non executive director mr gyllenhammar also deputy chairman montpellier recently picked 26 per cent holding company bullough planned sell boilers division yesterday announced halting sale saying offers received inadequate emerged yesterday robert bonnier former chief executive founder scoot com sold bulk stake troubled line information company height dot com boom 44 million shares held name toocs international worth pounds 100 end last month could raise mere pounds 440 000 stake selling 1 1 p share scoot shares 0 14 p 1 74 p yesterday market movers regus 48 p 5 p 11 6 per cent major competitor hq global plans close majority european operations telewest 72 5 p 4 p 5 8 per cent morgan stanley reiterates outperform rating 132 p target price manchester united 143 p 6 p 4 4 per cent reports strike footballers averted excite investors brake bros 542 5 p 20 p 3 83 per cent credit suisse first boston upgrades buy hold 700 p target price arguing recent sell overdone henlys 113 5 p 20 p 21 4 per cent nova bus division wins contract transport urbain de quebec canada lastminute 36 75 p 4 25 p 13 1 per cent announces surge sales says break even six months time applied optical technologies 98 5 p 11 p 12 6 per cent confirms anti counterfeiting contract 2004 athens olympic games merchandise range jacobs 21 p 2 p 10 5 per cent plans restructuring possible disposal non core assets wellington underwriting 91 5 p 9 p 10 9 per cent says talks number venture capitalists view setting new insurance company cambridge antibody technology 1 879 41 p 2 1 per cent slight nervousness ahead full year results monday analyst expecting losses widen gameplay 0 85 p 0 30 p 26 1 per cent takeover talks collapse william baird 50 5 p 14 p 21 7 per cent says full year results significantly expectations black arrow 52 5 p 13 p 19 9 per cent says order book low unveils slump first half pre tax profits durlacher 7 p 0 75 p 9 6 per cent lehman brothers dumps 1 2 shares market seaq trades 116 464 seaq volumes 1 86 bn copyright 2000 dow jones company inc rights reserved business dynegy could renegotiate enron bid target stock sags less half offer value carolyn koo 11 24 2001 toronto star ontario eo 9 copyright c 2001 toronto star power companies enron corp dynegy inc advisers scheduled spend weekend poring enron books could lead renegotiation dynegy acquisition embattled enron spectre renegotiation pushed enron shares 5 per cent 27 cents u 4 74 yesterday new york stock exchange dynegy closed 64 cents 1 61 per cent 40 40 dynegy originally agreed pay 9 billion stock enron amid fears enron could run cash dynegy completes buy however enron market capitalization 4 03 billion dynegy current stock price offer enron worth 10 85 share twice enron current share price investment bankers deal currently final stages due diligence sources said said renegotiations discussed yesterday afternoon discussions could occur due diligence review finished examination enron business turns unpleasant surprises renegotiation deal terms considered strong possibility report wednesday ronald barone analyst ubs warburg suggested deal current exchange ratio 0 2685 share dynegy share enron could well readjusted believe odds enron incurring material adverse change operations soaring suggests assuming dynegy wants continue move forward deal 0 2685 ratio hold wrote said ratio 0 15 realistic another analyst also said renegotiation likely got believe possibility unquestionably continued malaise enron core business dynegy left open renegotiate enron recently enron natural gas electricity trading partners scaled back activity causing malaise many partners shunning new long term deals greatly reducing number transactions lower volumes enron trading business largest coveted portion operation could cause fourth quarter earnings come expectations enron said concern also growing enron bond market company 6 4 per cent notes maturing 2006 6 75 per cent notes bid yesterday 57 cents dollar respective 62 60 cents wednesday trader said notes yields maturity 21 5 17 per cent respectively copyright 2000 dow jones company inc rights reserved financial post world enron stock slump could mean deal renegotiated shares 45 carolyn koo reuters files bloomberg news 11 24 2001 national post national fp 8 c national post 2001 rights reserved new york power companies enron corp dynegy inc advisers scheduled spend weekend poring enron books could lead renegotiation dynegy acquisition embattled enron spectre renegotiation pushed enron shares 5 us 27 cents us 4 74 close friday trading new york stock exchange dynegy shares closed us 64 cents 1 61 us 40 40 dynegy originally agreed pay us 9 billion stock enron falling 45 friday amid fears could run cash dynegy completes buy enron sports market capitalization us 4 03 billion dynegy current stock price offer enron worth us 10 85 share twice enron current share price investment bankers deal currently final stages due diligence sources say examination enron business turn unpleasant surprises renegotiation terms strong possibility enron spokeswoman said knowledge dynegy renegotiating terms acquisition dynegy spokesman john sousa said company remains optimistic potential merger report wednesday ronald barone analyst ubs warburg suggested deal current exchange ratio 0 2685 share dynegy share enron could well readjusted mr barone said much lower exchange ratio 0 15 realistic got believe possibility 90 spread deal said one analyst referring potential renegotiation unquestionably continued malaise enron core business dynegy left open renegotiate enron continued recently enron natural gas electricity trading partners scaled back activity causing malaise many partners shunning new long term deals greatly reducing number transactions lower volumes trading business largest coveted portion operation could cause fourth quarter earnings come expectations enron said even two companies advisers review company books enron facing increasing number lawsuits tidal wave potential liabilities past year guide big pension funds invested enron said considering legal options wake enron stock collapse regulatory probe dealings company also sued employees say lost large amounts money retirement savings heavily invested enron stock one suits filed u district court houston tuesday alleged enron recklessly endangered retirement savings employees encouraging invest heavily enron stock without warning risks copyright 2000 dow jones company inc rights reserved report business international dynegy may renegotiate deal firms finish examining enron books reuter news agency 11 24 2001 globe mail metro bl 1 material copyright c bell globemedia publishing inc licensors rights reserved new york power companies enron corp dynegy inc advisers scheduled spend weekend poring enron books could lead renegotiation dynegy acquisition embattled enron spectre renegotiation pushed enron shares 5 per cent 27 cents u close 4 74 yesterday new york stock exchange dynegy shares closed 64 cents 1 61 per cent 40 40 dynegy originally agreed pay 9 billion stock enron since company stock fell 45 per cent yesterday close amid fears could run cash dynegy completes buy enron sports market capitalization 4 billion dynegy current stock price offer enron worth 10 85 share twice enron current share price investment bankers deal currently final stages due diligence sources say examination enron business turn unpleasant surprises renegotiation deal terms strong possibility enron spokeswoman said knowledge dynegy renegotiating terms acquisition dynegy could reached comment report wednesday ronald barone analyst ubs warburg suggested deal current exchange ratio 0 2685 shares dynegy share enron could well readjusted believe odds enron incurring material adverse change operations soaring suggests assuming dynegy wants continue move forward deal 0 2685 ratio hold wrote mr barone said exchange ratio 0 15 realistic got believe possibility 90 per cent spread deal said one analyst referring potential renegotiation unquestionably continued malaise enron core business dynegy left open renegotiate enron continued recently enron natural gas electricity trading partners scaled back activity causing malaise many partners shunning new long term deals greatly reducing number transactions lower volumes trading business largest coveted portion operation could cause fourth quarter earnings come expectations enron said even two companies advisers review company books enron facing increasing number lawsuits tidal wave potential liabilities past year guide big pension funds invested enron said considering legal options wake enron stock collapse regulatory probe dealings enron also sued employees say lost large amounts money retirement savings heavily invested company stock one suits filed u district court houston tuesday alleged enron recklessly endangered retirement savings employees copyright 2000 dow jones blue chips turn strong day reversing profit taking sessions adam geller associated press 11 24 2001 san jose mercury news morning final 8 c c copyright 2001 san jose mercury news rights reserved new york investors returned thanksgiving holiday buyingmood friday sending blue chip stocks strong gains reversing profit taking trend recent sessions dow jones industrial average ended abbreviated trading session 125 03 9 959 71 week dow climbed 92 72 points 0 9 percent broader stock indicators also rose standard poor 500 index 13 31 1 150 34 end week 1 percent nasdaq composite index rose 28 15 1 903 20 end week 0 2 percent advancing issues outnumbered decliners nearly 3 1 ratio new york stock exchange consolidated volume came 512 75 million shares sharply 1 28 billion wednesday session rise stock prices despite absence news shows investors see buying opportunities market backtracking earlier week analysts said see selling see money taken table bargain hunters refuse sit idly optimism appears increasing said alan ackerman executive vice president fahnestock co new york friday gains reversed trend earlier week line market recent surge seen stocks gain 20 percent lows followed sept 11 terrorist attacks stock markets closed early 10 pst gainers included ericsson whose chairman said week expects less competition market third generation wireless technology company stock rose 33 cents 5 55 wal mart stores nation largest retailer rose 68 cents 55 80 consumers headed stores day regarded official start holiday shopping season toys r us shares also rose 95 cents 23 05 enron whose acquisition dynegy questioned investors fell 30 cents 4 71 russell 2000 index tracks smaller company stocks rose 6 11 458 42 bond prices fell abbreviated post holiday session investors seemed prefer stocks instead price benchmark 10 year treasury note fell 1 2 point 5 00 per 1 000 face value yield moves opposite direction rose 5 00 percent compared 4 95 percent late wednesday bond markets closed thursday observance thanksgiving day 30 year treasury bond fell 5 8 point yield 5 38 percent 5 35 percent wednesday according moneyline telerate overseas stock markets mixed europe germany dax index rose 0 2 percent britain ft se 100 1 percent france cac 40 fell 0 6 percent japanese markets closed friday national holiday currency trading dollar managed four month highs yen pound dollar reached 124 48 yen highest since aug 2 british pound low dollar 1 4035 lowest since july 18 copyright 2000 dow jones deal reuters associated press 11 24 2001 san jose mercury news morning final 2 c c copyright 2001 san jose mercury news rights reserved long weekend work faced dynegy proposed acquisition enron whose worsening stock woes friday whipped fear deal could renegotiated collapse entirely houston based dynegy advisers expected spend weekend reviewing larger cross town rival enron complex books parties race decline enron stock complete thorough financial examinations merger requires enron shares ended 6 percent 30 cents 4 71 close abbreviated friday trading new york stock exchange dynegy shares rose 64 cents 1 6 percent 40 40 dynegy nov 9 agreed pay 9 billion stock enron falling 45 percent friday close amid fears could run cash deal closes enron market capitalization 4 03 billion dynegy current stock price offer enron worth 10 85 share twice enron current share price copyright 2000 dow jones company inc rights reserved editorial workers nest eggs devastated 11 24 2001 portland oregonian sunrise 7 copyright c oregonian 2001 2 700 local portland general electric enron employees along 18 000 plus enron employees 401 k plans locked enron announced 618 million third quarter loss suffering huge losses retirement nest eggs 401 k plans sink enron nov 16 corporation gave millions dollars get president bush regime power surprised bush without congressional consent offer enron multibillion dollar economic stimulus package save corporation meanwhile hard working enron employees devastated john b waite milwaukie copyright 2000 dow jones people stopped faith particular people stopped believing anything management said case study happens management loses credibility guys kept saying problems behind us every time said week later new problem would crop people started examining balance sheet finding squirrelly stuff basically enron deal negotiated dynegy going go bankrupt really incredible story simon explain us could refer guess technical term among economists squirrelly stuff nocera yeah squirrelly stuff simon yeah nocera well worst happened turned side partnerships included enron officials billion dollar trades enron nobody quite knows people believe enrich officers question people believe help smooth earnings words form hyping stocks keep earnings going would take losses bundle losses throw partnerships balance sheet stuff started emerge newspapers wheels really started fall people saying going mean terrible else could turns things well simon well know think understand enron wants deal dynegy go dynegy see nocera well enron still somewhere 25 33 percent natural gas energy futures trade united states huge marketplace dynegy much smaller conservative player know buying enron suddenly became much much bigger player also dynegy actually hard physical assets unlike enron middleman trades would actually delivering natural gas something dynegy buying big company looks like 5 share really incredible simon let ask finally enron employees good number enron employees suing company contending credibly essentially defrauded pension money nocera right big gripe thing started tank stock started go unable move get enron stock pension fund enron actually throws stock fund move different investment vehicle saying know defrauded stock fraudulently hyped know scott said done think got case think going able fact show much enron reason things hype stock classic case happens put stock front company instead company front stock simon hate ask question like five seconds left could criminal investigation nocera oh think sec already circling around simon ok joe thanks much nocera thank scott simon joe nocera executive editor fortune magazine speaking us studios member station wfcr amherst copyright 2000 dow jones company inc rights reserved dynegy right enron pipeline may disputed barron says 2001 11 24 13 52 new york houston nov 24 bloomberg dynegy inc may hard time claiming one enron corp pipelines merger agreement collapses asset pledged collateral 1 billion bank loans barron reported dynegy said initial investment 1 5 billion enron using cash chevrontexaco corp gave dynegy right acquire northern natural gas co deal falls enron though pledged assets transwestern northern natural gas pipelines get 1 billion loans j p morgan chase salomon smith barney inc dynegy claim pipeline may challenged enron lenders enron forced bankruptcy barron said dynegy may also concerned enron affecting credit rating barron said dynegy market value 10 billion assets worth 2 5 billion listed two notches junk status watch possible downgrade weekly newspaper said barron said renegotiating purchase response recent decline enron shares might make sense company debt accounts deal value around 23 billion deal still enron shares drop 6 houston chronicle nelson antosh staff 11 24 01 shares enron dropped another 6 percent friday investment community fretted acquisition price company dynegy may reduced deal might go two sides offer anything new worried investors dynegy stuck wednesday statement working accelerate regulatory approvals order complete deal previously announced dynegy continuing take close look enron part due diligence process involve careful study enron books dynegy spokesman john sousa said friday wednesday dynegy chief executive chuck watson said encouraged enron closed 450 million credit security received extension 690 million iou dynegy remains optimistic deal done said source close company enron spokeswoman karen denne said unaware meetings planned top executives two companies weekend could signal alterations deal enron stock active new york stock exchange friday dropped 30 cents close 4 71 per share made worst performing stock standard poor 500 index week loss 48 percent holiday shortened period bad week stock come 52 week high 84 87 dec 28 last year year date enron price 94 percent 40 million shares traded hands friday wednesday 116 million shares traded analyst ron barone ubs warburg said odds reduced exchange ratio deal rising announced nov 9 dynegy would exchange 0 2685 shares share enron according barone 0 15 might appropriate traders also speculated enron might need issue stock stabilize finances would dilute shares currently outstanding dynegy stock gained 64 cents close friday 40 40 per share trading 2 1 million shares year date dynegy price 28 percent