Enron - Natural Gas Industry Message Board

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Gold/Mining/Energy : Enron - Natural Gas Industry

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To: Bob Rudd who wrote (972)	11/30/2001 8:37:55 AM
From: GREENLAW4-7	Read Replies (1) of 1433

DYN was DIRECT CAUSE of JUNK status! If you wonder why DYN dragged their feet, as ENE stock sank from 10-4, its because thier lawyers told them the longer that DYN holds off on any announcement, the better chance ENE will become JUNK, as the stock will continue to slide! Why did Watson say they had a deal upto the moment they were downgraded to Junk? If so why didn't DYN make announcement? They saw the price crashing and confidence in ENE business eroding! DYN had a duty not only to DYN shareholders, but also to ithe shareholders of ENE who expected DYN to act as a parent to ENE not as a competitor!! SERIOUS CONFLICT OF INTEREST problems w/ DYN's hold off on announcement of new deal until it was too late! I would look not for a chapter 11 filing but a serious suit by ENE alleging DYN was responsible for breaches after they signed on the bottom line! If there were material changes in the 10Q, then DYN should have acted well before wendsday to terminate the deal, its not equitable to now have the CEO say the termination was caused by both the 10Q and the JUNK downgrade. The JUNK status was caused by DYN not reassuring investors and business dealers of the merger. The 10Q was held far too long by DYN to now say it caused a material misrepresentation!

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