Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Non-Tech : Williams Companies, Inc. (WMB) -- Ignore unavailable to you. Want to Upgrade?

To: Jerome who wrote (234)	8/15/2002 12:40:19 AM
From: James Calladine	Read Replies (2) \| Respond to of 271

NOT ACCORDING TO THIS FOR DYN: Dynegy may face bankruptcy Energy trader says it cannot certify results By CBS.MarketWatch.com Last Update: 10:56 PM ET Aug. 14, 2002 HOUSTON (CBS.MW) -- Energy trader Dynegy, suffering from a credit crunch and crumbling stock value, said in a filing with the Securities and Exchange Commission that it may have to file for bankruptcy protection if it doesn't get approval for the sale of one of its gas pipelines or find some other way to meet its near-term obligations. Also, on Wednesday, the company said its executives could not certify its past financial results as required by the SEC because of a pending restatement. Dynegy (DYN: news, chart, profile) said it failed to meet the Securities and Exchange Commission deadline for interim Chief Executive Dan Dienstbier and Chief Financial Officer Louis Dorey to sign off on the results because of a pending restatement of its 2001 financial results and a three-year re-audit of its financial statements. Dynegy is under investigation by the SEC in the wake of the collapse of Enron. Dynegy's stock has fallen 95 percent in the past year amid questions about its accounting practices and transactions that may have been used to boost its earnings. In a recent filing with the SEC, the company said it might not be able to meet its near-term obligations if the pending sale of one of its gas pipelines isn't completed by the end of the month. The company has asked for regulatory approval to sell the unit to Berkshire Hathaway (BRKA: news, chart, profile) for $1.8 billion. Without that sale, or some other support, Dynegy said in the filing, it "may be forced to consider other strategic alternatives or a possible reorganization under the protection of bankruptcy laws." Dynegy shares fell 3 cents on Wednesday to close at $1.49.

To: Jerome who wrote (234)	8/15/2002 1:21:50 AM
From: tejek	Read Replies (3) \| Respond to of 271

So far, WMB, CPN, and DYN have submitted Certification of Statements. Lets see what the street thinks of this matter tomorrow. Jerome, as you know DYN did not certify. I took a chance and bought into WMB today. I believe that WMB's price will pop now that this issue of certification is behind it......its chart suggests the same thing. Plus, its accum rating as measured by IBD has gone from a D to a B this week......a significant change. We'll see tomorrow if my thinking is sound. Having said that, WMB will have to continue to do the right things....pare costs, sell assets and clean up its act for the stock price to continue moving up. As for DYN, I think its going the way of ENE. I have believed that ever since its CEO resigned. He was too entrenched in DYN to just walk away unless things were pretty bad. Its too bad these screwed up so badly. A lot of money had been lost. ted