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Gold/Mining/Energy : Enron - Natural Gas Industry -- Ignore unavailable to you. Want to Upgrade?

To: Bob Rudd who wrote (972)	11/30/2001 8:37:55 AM
From: GREENLAW4-7	Read Replies (1) \| Respond to 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!

To: Bob Rudd who wrote (972)	11/30/2001 12:25:49 PM
From: buffaloha	Read Replies (1) \| Respond to of 1433

Sounds like DYN's own tricks are coming around... ...after going on the air waves to spin his story and slam ENE in the process, it does now look like DYN is going to face big hurdles to pull off its scheme. Something tells me ENE has much more staying power and ability to deal with DYN's short term chaos, than DYN. Interesting how after this deal fell through, Watson sure felt he had to go out on the airwaves and slam ENE and pump up DYN. This sounds like competition gone awry and unreasonable impairment of collateral that ENE could have pledged to bona fide purchasers or lenders but for DYN's involvement. I'm sure there are lots of theories, but the news is finally showing the kinks in DYN's view of a happy ever after. It seems if ENE can hold off the big lenders/creditors, then it can survive for a while and find a way out. What has been assumed by the media and the adversaries may come around to bite them. Who knows...