enron mentions 11 11 01 enron giant bargain new york times 11 11 01 dow breaks pre attack level new york times 11 11 01 dealings enron emerging houston chronicle 11 11 01 demise enron blow city local business pillars crumble dynegy bright spot houston chronicle 11 11 01 flying blind keeping investors dark enron lost way houston chronicle 11 11 01 deregulation derailed california meltdown power though many energy firms scarred state free market stumble analysts say likely rebound los angeles times 11 11 01 thing enron independent london 11 11 01 usa wall street takes aim accounting tricks reuters english news service 11 11 01 senate stimulus bill slammed grab bag special interests houston chronicle 11 11 01 week review desk section 4 november 4 10 enron giant bargain richard oppel jr 11 11 2001 new york times page 2 column 3 c 2001 new york times company principal business peril enron agreed acquired dynegy 9 billion one ninth worth last year enron houston used political muscle trading floor savvy create new markets electricity gas become nation dominant energy trader yet refusal explain finances caught last month investors fled disclosure e c probe unusual 1 2 billion reduction shareholder equity admitted overstating profits 600 million energy companies began shun enron putting trading business jeopardy finally humbled enron options threw arms dynegy much smaller crosstown rival richard oppel jr copyright 2000 dow jones section 3 databank dow breaks pre attack level michael brick 11 11 2001 new york times page 15 column 3 c 2001 new york times company stocks posted big gains past week pushing dow jones industrial average highest close since sept 11 attacks federal reserve half point reduction short term interest rates tuesday 2 percent 10 th cut year big reason advance investors bought stocks optimism latest cut would finally help stimulate economy equities got lift reports emerged friday seemed run counter fed prediction economy would worsen suggesting economic turnaround already started university michigan monthly index consumer sentiment widely followed barometer showed november improvement attitudes finances economy week dow jones industrials rose 284 46 3 05 percent 9 608 00 first time since sept 11 attacks average closed sept 10 finish 9 605 51 nasdaq composite index rose 82 75 4 74 percent 1 828 48 standard poor 500 stock index rose 36 21 3 34 percent 1 120 31 nasdaq p indexes regained pre attack levels october michael brick chart stocks news baxter international nyse bax baxter said chemical used manufacture filters dialysis patients may played role dozens deaths around world f investigating deaths friday close 47 48 week change 3 10 est 01 p e 27 13 cisco systems nnm csco first time year cisco revenue increased previous quarter although loss first fiscal quarter results exceeded wall street expectations friday close 19 20 week change 11 24 est 01 p e 86 49 bellsouth nyse bls regional telephone company said expected revenue grow 5 7 percent 2002 compared sales growth 8 9 percent year friday close 39 02 week change 3 67 est 01 p e 17 66 microsoft nnm msft federal judge plans hold separate related proceedings proposed antitrust settlement microsoft bush administration friday close 65 21 week change 6 21 est 01 p e 35 44 newport news shipbuilding nyse nns company agreed 2 1 billion takeover northrop grumman rival military contractor northrop acquire outstanding shares 67 50 assume 500 million debt friday close 67 95 week change 2 09 est 01 p e 20 75 dynegy nyse dyn dynegy agreed acquire enron rival energy trading company deal valued 9 billion also includes assumption around 13 billion enron debt friday close 38 76 week change 15 87 est 01 p e 18 52 palm nnm palm hand held computer maker said chief executive carl j yankowski resigned departure comes year missteps including product delays inventory buildups friday close 2 65 week change 14 22 est 01 p e h j heinz nyse hnz citing slowdown food service business company lowered profit targets second quarter full fiscal year friday close 39 90 week change 7 66 est 01 p e 14 98 source bloomberg financial markets copyright 2000 dow jones company inc rights reserved news dealings enron emerging tom fowler staff 11 11 2001 houston chronicle 4 star 16 copyright 2001 enron name may soon fade away federal securities investigation helped erode energy giant foundation yet 3 1 2 week old securities exchange commission probe enron corp finances likely drawing closer answering questions complex partnerships wiped 1 billion shareholder value almost 600 million profits sec officials discuss works progress already results becoming clear company admitted massive accounting errors past four years led overstate profits understate debts admission doubt saved company sec penalties say observers company gradually distanced former chief financial officer considered architect behind deals indicated employees personally involved partnerships without knowledge culpability enron current former employees clear time oct 17 day enron reported unexpected third quarter loss sec began asking enron questions two balance sheet partnerships called ljml ljm 2 formed help company grow without adding additional debt diluting stock valuations also used help hedge risks enron newer lines business former cfo andy fastow formed partnerships approval company board directors attorneys auditors dual role cfo managing partner two partnerships appearance conflict interest even though enron insisted measures taken prevent illegal unethical behavior sec role looking partnerships prevent company executives conflicts interest dealings however rather make sure companies fully disclose conflicts situations may appear conflicts said john coates professor harvard law school although role determining information enron proxy correct transactions reported responsible determining whether transactions done fair terms coates said item 404 sec regulation k requires companies disclose transactions executive officers personally benefit 60 000 disclosure include direct indirect interests deal amount money assets receive information rules however certain exceptions executive compensation deal less 10 percent value overall transaction may need disclose details coates said stipulation could possible give enron cover previously disclosed 30 million fastow earned partnerships times companies may followed letter rules sec still pushes fully disclose details said whether enron needed disclose previously investments profits number employees made partnerships also hard discern company said week addition fastow five employees invested deals two employees ben glisan managing director treasurer enron corp kristina mordaunt managing director general counsel enron division terminated enron week employees including fastow executives michael kopper kathy lynn anne yeager longer work enron company mention much individuals invested much benefit reaped deals employees may even fall disclosure rule since give clear definition positions executive officers company gradually distanced fastow partnerships since problems arose shortly earnings report last month lay said board stood fastow day later replaced oct 31 day enron said sec upgraded review finances simple inquiry formal investigation company announced board directors created special investigation committee company spokeswoman stressed committee power take disciplinary action enron employee officer director determines improperly participated transactions sec filing outlined partnerships thursday company said aware partnerships required certain safeguards put place transactions approved reviewed regularly whether controls procedures properly implemented subject special committee investigation statement said friday news conference lay said board aware formation one partnerships aware glisan mordaunt investing partnerships lay deflected many questions regarding investigation saying conference call would held next week shareholders lined behind lawsuits company partnerships even company law firm vinson elkins disclosure cases state corporate law cases assured situations like coates said even sec little shareholders still line photo new enron corp building framed curved walkway still construction downtown houston dynegy proposal approved 200 million 40 story building among new assets purchase much larger rival copyright 2000 dow jones company inc rights reserved news demise enron blow city local business pillars crumble dynegy bright spot david kaplan staff 11 11 2001 houston chronicle 4 star 1 copyright 2001 seems like days ago enron corp held example company could see future wizards wall street marveling corporation bold innovative strategies houston high flying enron erecting new headquarters downtown tall shiny skyscraper city first decade almost suddenly enron vanishing past months three pillars houston economy business leadership fallen hard times compaq computer corp centerpiece houston technology image may sold continental airlines laid thousands adjusts slowing economy aftermath sept 11 travel business months ago houston lost headquarters american general company sold american international group enron disappear absorbed one rivals impact negative business news houston image recent wave corporate downturns experts concerned others say look big picture still optimistic fact multiple blows certainly negative effect short run said barton smith director institute regional forecasting university houston long run smith said city future quality life quality infrastructure whether city lost attracted major headquarters boeing left seattle said poor seattle smith said three months later seattle still growing still known good place live important terms houston corporate image image general smith said whether easy get around get work smoothly businessman get tokyo london smith believes houstonians concerned local problems getting city pollution problem control rational way houston continues known one polluted cities america smith said continue haunt us demise enron certainly good news compaq good news said steve klineberg rice university professor sociology two companies enhanced city image stature klineberg said signified houston moving 20 th century oil based economy 21 st century economy based information technology terms image enron news damaging within business community perception houston world large said steve currall associate professor management psychology statistics jesse h jones graduate school management rice university enron little business consumer activity average person street mean much said significant business community currall said enron fortune 10 company consistently ranked one innovative companies america think struggles enron negative impact business community said houston benefited company like enron made city world headquarters energy trading currall said made us hub development financial management innovations part reason enron dynegy resonate wall street gang say trading stuff cool convergence highly sophisticated finance energy industry currall said delighted dynegy enron suitor keeps people operations houston great news houston said others agreed presence dynegy houston soften blow enron bought dynegy another houston firm like couple cousins getting together said barry silverman marketing management consultant sense loss houston said david crossley president gulf coast institute nonprofit group promotes quality life issues area would thought company houston capable buying enron crossley said makes dynegy bigger company said creates certain mystique houston since cutting edge businesses david morris managing partner houston office heidrick struggles executive recruiting firm believes houston unfairly stereotyped gunslinger style business environment concerned perceived gunslinging type accounting enron underscored really emphasized morris said houston creativity enron took old line industry gas transmission created marketing gas trading gas hedging price gas creating different value streams industry rest world could grasp pretty amazing none going away said point echoed henderson vice president managing director hyatt regency houston recent chairman greater houston convention visitors bureau think new york think stock market said think chicago think agribusiness think houston energy commodity going stronger mergers acquisitions business trading energy commodity going grow henderson maintained houston still envy much country houston always one continuously booming economies said bounced back quicker stronger region offer example city resilience appeal henderson noted hewlett packard chief executive officer carly fiorina recently stated work force compaq houston campus might increase size part city business friendly environment compared described less friendly business climate california silverman maintained recent experiences various local businesses hurt image global economy often see companies changing names headquarters said like monopoly game bet asked 100 people microsoft headquartered 50 tell copyright 2000 dow jones company inc rights reserved outlook editorials flying blind keeping investors dark enron lost way staff 11 11 2001 houston chronicle 4 star 2 copyright 2001 last spring enron chairman ken lay told leadership forum university houston goal make enron 1 company world six months later enron fighting life 7 8 billion stock deal struck friday enron cease exist operations folded rival houston energy firm dynegy enron recent years one houston important corporations reach pass ambitions high unlike mythical icarus enron fly near sun melting wax wings enron troubles came top executives chose much piloting cover darkness process lost way using several mysterious partnerships finance projects shield risk debt public scrutiny enron leaders set stage vicious circle drops earnings investor confidence creditworthiness followed exacerbated one another deals became complicated impenetrable enron directors approved longer knew whether company revenues assets coming going securities exchange commission investigating enron financial arrangements questionable bookkeeping enron spokesman says company finds difficult know state partnerships owned controlled following months enron announcements regarding departing executives lacked accuracy candor company past week restated finances back 1997 subtracting 586 million net income adding 2 5 billion debt regardless sec inquiry finds enron revised accounting makes good case congressional regulatory elimination whatever loopholes allowed enron inflate income obscure debt enron officials say special board committee investigating financial arrangements former enron executives obscure investment partnerships managed controlled enron spokesman said committee would make public findings appropriate time appropriateness time diminishes gets present neither enron officials investors need wait committee report conclude letting executives profit side partnerships sticking stockholders liabilities inappropriate sake enron stockholders citizens houston depend enron contribution economy civic life city arrangement must repeated much enron problems stem straightforward imprudent ill timed investments power plant india broadband capacity needed collapsing telecommunications market doomed venture water business azurix corp losses might survivable enron denied transactions transparency sought global energy markets copyright 2000 dow jones financial desk deregulation derailed california meltdown power though many energy firms scarred state free market stumble analysts say likely rebound nancy rivera brooks times staff writer 11 11 2001 los angeles times home edition c 1 copyright 2001 times mirror company branded lawless cowboys california politicians consumer advocates energy merchants rode skyrocketing electricity natural gas prices new stock highs worst california energy crisis recent months energy companies names duke dynegy reliant aes mirant williams el paso corp seen fortunes dim california electricity meltdown slowed pace deregulation nationwide power prices tumbled economy faltered even power plant owners energy trading operations maintained healthy earnings growth watched stock performance fade enron effect enron corp cast heavy california politicians suffered biggest fall helped drag stocks energy producers traders enron woes appear special case flow less energy businesses loss investor confidence company complex shadowy financial structure resulting cash crunch nonetheless enron detractors crowing rapid decline truest believer electricity deregulation movement take businesses controlled decades monopoly utilities throw open generation trading retail sale electricity new competitors enron dead neither electricity deregulation energy experts contend though several states delayed deregulation plans major corporate players tempering enthusiasm states corporations press ahead tough new world energy companies bring profit opportunities acquisitions low priced players analysts say enron brash energy peddlers agreed acquired archrival dynegy inc 7 7 billion stock deal yet economy power prices improve energy companies see prospects gleam analysts say deregulation train going derailed may delayed coming said jon kyle cartwright senior energy analyst brokerage firm raymond james associates economy rebounds going see higher energy prices cartwright said means guys sell power guys manufacture power going bright futures less year ago energy prices headed record territory california winter electricity shortages plagued state favorite whipping boys gov gray davis politicians energy sellers enron aes corp dynegy duke energy corp reliant energy inc mirant corp williams cos el paso corp energy companies power plants california sell electricity natural gas state prices deemed state officials higher truly competitive market would produced energy companies denied overcharged californians federal regulators investigating matter far ordered limited refunds electricity revenues nonetheless southern california edison co pacific gas electric co lost much money paying electricity costs could pass customers rate freeze became insolvent pg management tight lipped purpose holdings investment vehicles takeover rumors swirled last week around enron dynegy announced deal friday underscoring predictions general industry consolidation low stock prices firms thriving stocks companies still going strong although stocks remain depressed includes companies receiving end potshots california politicians utility regulators duke energy dynegy mirant nrg corp williams well san jose based calpine corp repeatedly praised davis playing constructive role crisis calpine instance said third quarter profit revenue doubled electricity producer increased sales adding power plants yet stock 55 52 week high 58 reached march energy merchants seem best grasp market risk management said chris ellinghaus power natural gas analyst williams capital new york many companies diversified geographically fuel use generate electricity locked favorable contracts protected power prices fell summer said abn amro utility analyst paul patterson said investors turned away companies even healthy ones business exciting used people go earnings momentum kind like dessert first patterson said best lose appetite one company trying adapt deregulation devolution california commonwealth energy corp survived run california public utilities commission suspension california direct access commonwealth primary business selling electricity directly consumers businesses commonwealth energy one 300 companies flocked california sell retail electricity customers southern california edison pg e san diego gas photographer robert gauthier los angeles times graphic landscape electricity los angeles times graphic losing wattage los angeles times copyright 2000 dow jones friday worth tenth market felt good reason push stock heights company many years appeared make right moves group transformed dull utility exciting mix energy trading communications services seemed never put foot wrong outstanding arrogant company said roger hamilton senior fund manager john hancock giant everything energy industry touched enron company even managed persuade investors convoluted management structure believe root cause demise positive thing kiss ass 24 people said former enron chairman jeffrey skilling together 24 people likely interests shareholders heart one person unfortunately behind scenes hell breaking loose last couple months given market long embarrassing string revelations company cherished company 13 bn outstanding debt found access funds extremely limited two weeks ago measure desperation enron secure rescue loan 25 000 mile network gas pipelines along way details group botched expansion india made supremely depressing reflections management crowning whole sorry tale driving shares 80 per cent opening last month securities exchange commission probe accounting enron partnerships last week came sacking group treasurer corporate lawyer revision earnings last four years tune half billion dollars despite dynergy bid could steal century troubles open enron may little grimy many potential buyers even bearish analysts see rich pickings old enron empire dynergy big problem snapping big boys including chevron shell poach good stuff leo lewis copyright 2000 dow jones company inc rights reserved usa wall street takes aim accounting tricks deepa babington 11 11 2001 reuters english news service c reuters limited 2001 new york nov 11 reuters wall street starting refuse bite bait dubious earnings numbers highlighted corporations press releases companies tout profit figures frequently called pro forma results strip unseemly one time charges expenses record levels 200 billion year alone investors analysts accountants revolting pressure building away medley different profit numbers least cut standard poor major compiler earnings financial data treat restructuring charges stock option expenses write downs ongoing operations part company operating earnings items many companies exclude version operating earnings past p would take company special charges word said p analyst robert friedman involved project going say hey wait minute decision underscores momentum building wall street scrutinize corporate accounting one recent high profile victim movement enron corp energy trading company faced crisis investor confidence became clear boosted profits racked debt complex financial transactions known balance sheet deals deals structured show enron balance sheet caused enron chop almost 600 million earnings last four years mighty company lost 20 billion market value friday agreed bought smaller rival dynegy inc investors scared stock market casualties partly want crack pro forma numbers often present much rosier picture company performance exclude whole bevy costs drag bottom line hopefully put pressure companies think twice put financials said friedman tech companies particular conveniently stripped everything inventory write downs severance costs bottom line figures pressured analysts earnings estimates mobile phone maker motorola inc example reported third quarter pro forma loss 153 million early last month including charges investment impairments cost reduction activities additional reserves financing turkish cellular operator however company posted whopping 1 4 billion loss motorola spokesman available comment practice also made difficult analysts investors compare results one company peers comes ideas included pro forma earnings many variants pro forma cloud comparisons said david zion accounting analyst bear stearns proliferation reports also caught attention nation accounting rule makers even though authority police press releases financial accounting standards board fasb two weeks ago said pressing ahead project look closely watched items pension fund income classified presented financial statements corporate america enthused idea several corporations wrote accounting body urging go ahead plan said project senior manager ronald bossio fund managers investors applauding survey 223 portfolio managers capital markets firm broadgate consultants nine 10 stock pickers said companies need improve report results fasb needs come one key indicator financial performance companies abide basically said accounting rule making body accepted ebitda earnings interest taxes depreciation amortization key measure companies ought calculate consistent manner display separate item statements almost managers agreed think pro forma thing way get around generally accepted accounting principles said debra mcneill portfolio manager fremont investment advisors think needs guidelines set pro forma numbers necessarily need banned copyright 2000 dow jones instead extend slew tax breaks routinely approved congress expire white house spokesman ari fleischer said senate bill contained much spending enough stimulus lambasted 220 million bill bison meat eggplant cauliflower pumpkin growers essence government subsidy commodities experienced low prices 2000 2001 crop years thirty four commodities would qualify senate finance committee chairman max baucus mont said aid ailing agricultural sector appropriate element recovery plan national economy declines rural areas often among areas hit hardest recover slowest baucus said another industry could benefit senate bill motion picture industry like house bill senate bill allows businesses quickly write investments assets whose value depreciates number years unlike house legislation senate bill includes provision specifying films depreciable asset qualifying tax break copyright 2000 dow jones company inc rights reserved