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

To: Jaknik2 who wrote (1144)	12/5/2001 11:46:33 PM
From: Doug	Read Replies (2) \| Respond to of 1433

Jak: It is astounding that 2 weeks ago, DYN valued ENE at $10b subject to review. During this process, ENE disclosed that they were facing a $3b cash flow problem that would affect their trading desk/short term debtors. This problem arose because their assets had been down by the same amount thanks to accounting tricks using partnerships. Assuming that ENE had a shortage of $5b, it still had a residual worth of $5b. The rating agency had no word to say about ENE till DYN walked away. During that time, the rating agency, ENE,DYN and a host of arbitrageurs , Banks and Institutions affilaited with these Cos were privy to inside knowledge. It seems, they with the assist from the rating agency, organised a short sell collapse. At the low they covered. The Govt and the SEC should investigate each ones role in this fiasco and explain how a Co valued 15 days ago at $10b, declined to $380m even when its maximum cash flow/asset shortfall was $5b after it was valued at $10b. NYSE can order an indefinte trading halt/suspension for any or all of the following: a: Assets less than $50m b: Capital less than $50m c: 30 day ma below $1. d: Request of the Co. Common sense dictates that existing lenders will not be DIP creditors unless the chances of the Co. surviving is good. Please note that I have a very small interest in ENE .