Newsgroup: it.economia.borsa
Titolo: Enron

Solo per curiosità, qualcuno sa che "roba" sia ?
Mirko

 Solo per curiosità, qualcuno sa che "roba" sia ?
Qualche indicazione in piu' no eh ?
Detto cosi' potrebbe pure essere una supposta :-))
--
Stardust®

 Detto cosi' potrebbe pure essere una supposta :-))
In effetti, credo che gli effetti siano simili: perde un totale da Settembre
a questa parte. Oggi -22 %
Mirko

> Solo per curiosità, qualcuno sa che "roba" sia ?
    Che cosa ENRON, simbolo NYSE ENE?
Sicuramente qualcosa che non vorreti avere nel portaglio...
ahahahahahaha
BOOOOOOOM! ha fatto il botto! solo qualche biliardino di dollari di debiti e
ops... l'irreparabile è accaduto!!!
NAZCRASH

 Sicuramente qualcosa che non vorreti avere nel portaglio...
Sě, questo l'avevo capito da solo, grazie !
Ma qual č il core-business ?

11/20 14:43
Enron Falls Amid Concern Debt Threatens Dynegy Bid (Update4)
By Stacie Babula
Houston, Nov. 20 (Bloomberg) -- Enron Corp. shares and bonds dropped after
the energy trader disclosed debts of $9.15 billion due by 2003, suggesting
that the company may run out of cash before its takeover by Dynegy Inc. can
be completed.
Shares of Enron fell $2.31, or 26 percent, to $6.75 in midafternoon trading.
Earlier, they touched $6.70, the lowest price in more than a decade. Enron's
6.4 percent notes due in July 2006 were bid as low as 69 cents on $1 of face
value and offered at 73 cents, down more than 13 percent from yesterday,
traders said.
Enron, which has had accounting errors this year that led to earnings
restatements, credit-rating cuts, a federal investigation and a management
shakeup, said in a regulatory filing that it has less than $2 billion in
cash or credit lines. Dynegy plans to complete its buyout by October, and
Enron may have to ask its lenders to restructure payment schedules to
survive.
``This filing shows that Enron is in a precarious financial situation,''
said Commerzbank Securities analyst Andre Meade, who rates Enron shares
``hold'' and doesn't own them. ``They have to stay afloat for the Dynegy
deal to go through, and that now looks difficult.''
Dynegy agreed Nov. 9 to buy Enron in a transaction now valued at $25 billion
in stock and assumed debt. Enron shares are selling for almost 32 percent
less than the value of Dynegy's offer, showing investors have doubts the
deal will be completed. Dynegy shares fell 51 cents to $43.09.
``It's become more clear that the chances of this deal going through aren't
90 percent, but much closer to fifty-fifty,'' said Edward Paik, who helps
manage the Liberty Utilities Fund, with 1.6 million Enron shares. ``There's
just so much information that is unknowable'' about Enron's financial
position, he said.
SEC Filing
Most of the $9.15 billion in debt is due before the end of the third
quarter, when the Dynegy buyout is scheduled to close, Enron said yesterday
in a third-quarter filing with the Securities & Exchange Commission.
Last week, Enron Chief Operating Officer Greg Whalley said the company will
sell assets of ``non-core businesses'' to raise money. It has $8 billion
invested in the businesses, including broadband and the Dabhol power plant
in India. Whalley said, without being more specific, that Enron expects to
get ``billions'' from the sales.
Asset sales valued at about $800 million are expected to close by the end of
this year, according to the SEC filing. Enron spokeswoman Karen Denne
wouldn't comment on whether it could sell assets fast enough to keep current
on its debts.
Dynegy will have to help Enron sell assets, said Mitchell Stapley, who
manages $3.5 billion in fixed-income assets including Enron bonds for Fifth
Third Investment Advisors Inc.
Dynegy, ChevronTexaco
Dynegy and ChevronTexaco Corp., which owns 26 percent of Dynegy, also will
have to help Enron negotiate with its lenders, said Kathleen Vuchetich, who
helps manage the $1.4 billion Strong American Utilities Fund, which is 5
percent Dynegy shares.
``I never dreamt (the $9.15 billion) would be that large, coming due all at
once,'' Vuchetich said. ``It calls into question their decision to schedule
it that way in the first place.''
ChevronTexaco, the second-largest U.S. oil company, is providing $2.5
billion in cash as part of the Enron buyout. It provided the first $1.5
billion a week ago.
Enron Chief Financial Officer Jeffrey McMahon said last week that the
company also was looking to get $500 million to $1 billion from private
investors.
Shares of ChevronTexaco, based in San Francisco, rose $3.26 to $86.17 in
early afternoon trading.
Restated Earnings
Enron yesterday reduced third-quarter results by 3 cents a share, bringing
the period's loss to 87 cents, or $664 million, according to the SEC filing.
On Nov. 8, Enron lowered earnings back to 1997 by $586 million to reflect
losses by affiliated partnerships that were wrongly kept off the books. That
included a third-quarter reduction of $17 million.
A drop in Enron's senior unsecured debt rating to ``BBB-'' by Standard &
Poor's on Nov. 12 may force Enron to pay off a $690 million note by Nov. 27
if it doesn't find collateral to guarantee the debt taken on by an
affiliated partnership, the filing said.
Without repayment or collateral, investors in a partnership that owns
Brazilian natural-gas assets can begin to liquidate the partnership's
assets, Enron said. The company said it's working with lenders to come up
with an acceptable agreement on the debt.
Making good on debt owed by its Whitewing affiliated partnership may cut
Enron's fourth-quarter earnings, Enron said. Enron is obligated to back
Whitewing by issuing junior convertible preferred stock. Because Enron's
stock has plunged, it may have to write down its assets by $700 million, the
filing said.
Enron used affiliated partnerships to raise money quickly and take debt off
its books. Its shares plunged this year as investors questioned whether the
partnerships also were being used to hide losses from failed investments.
Chief Executive Officer Kenneth Lay said last month that buying back 62
million shares from two such partnerships cost Enron shareholders $1.2
billion in lost equity.
Fourth Quarter
Lay admitted last week that failed investments and a loss of investor
confidence forced the sale to Dynegy. Dynegy and Enron are both based in
Houston.
Dynegy had held off on a purchase agreement out of concern that Enron's debt
rating would be cut to junk, jeopardizing Enron's ability to raise cash
needed to settle its daily power and natural-gas trades.
Moody's Investors Service kept Enron's credit rating at investment grade
after executives from Lehman Brothers Holding Inc., J.P. Morgan Chase & Co.
and Citigroup Inc.'s Salomon Smith Barney lobbied the credit-rating company,
people familiar with the situation said. A junk rating would have led Dynegy
to abandon the acquisition, Dynegy Chief Executive Officer Charles Watson
said.
Watson has said he's convinced Enron's trading operations are sound and
described disclosures about the affiliated partnerships as ``financial
noise.''
Dynegy has said it can cancel the transaction if Enron's litigation costs
and other liabilities grow to $3.5 billion or more. Enron faces at least 23
such lawsuits over its dealings with affiliated partnerships.

 deal will be completed. Dynegy shares fell 51 cents to $43.09.
Non tratto titoli Usa, ma se lo facessi ci studierei sopra a 'stà storia
dell'offerta.
Salute
Mirko

 --
    azz mi sa che c'hai ragione!
stiamo attenti...
:-)

visto che performnce anche oggi:
12,15 ENE @ 4.920 -2.070 -29.61%  50.77M  12:12 PM
WOW
 compra compra!

 Ma qual č il core-business ?
Trading di Gas e produzione di Energia elettrica, ma sopratutto Trading di
Gas

 ha scritto nel messaggio
news:9titj6$g92$1...@pegasus.tiscalinet.it...
 Trading di Gas e produzione di Energia elettrica, ma sopratutto Trading di
Gas
***
Minchiolina ! Ma quel post è di Lunedì.
Grazie Francesco, ho letto qualcosa qua e là, solo per curiosità su Enron e
non è messa molto bene come bilancio.
C'è una offerta da parte di Dynegy ma è/era subordinata al rating di (mi
pare) Merryl.
Mirko
P.S. Cosa ne pensi dell'eventualità di "coprirsi" dal calo del petrolio con
un cementifero ?

 un cementifero ?
che è un modo strano di coprirsi non fai prima a comprare un Put?

 ha scritto nel messaggio
news:9tj1mm$ij3$1...@pegasus.tiscalinet.it...
che č un modo strano di coprirsi non fai prima a comprare un Put?
***
Non mi riferivo al mio portafoglio ma in linea piů generale.
E comunque, per rimanere sull'azionario, mi pareva una buona idea. Ma
ammetto che l'ho buttata lě senza approfondire as usual.
Mirko