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Topic: Dynegy

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Corporate scandal

	Dynegy- NTIA Broadband Comments
		Dynegy is seriously committed to developing a state-of-the art facilities-based national and international broadband data communications network and has already devoted significant capital and resources to this end.
		Dynegy has identified three questions raised by the NTIA that are of significant importance to the deployment of broadband services in the United States.
		Dynegy would also like to emphasize that ILEC investment in broadband infrastructure and applications mostly occurred after the passage of the 1996 Telecommunications Act, with full knowledge that the incumbents’ networks would be subject to the interconnection requirements of the Act.
	www.ntia.doc.gov /ntiahome/broadband/comments4/Dynegy.htm (3545 words)

	Dynegy Inc. Jobs on CareerBuilder
		Dynegy strives to be a good corporate citizen through efforts to support—with both time and money—a diverse group of charitable causes in the communities where we live and work.
		Dynegy has filed a registration statement with the SEC relating to the offer and consent solicitation, which was declared effective by the SEC on April 14, 2006.
		Dynegy has been advised by the conversion agent for the offer that the principal amount of debentures tendered as of 5:00 p.m., New York City time, on April 20, 2006 was $225,000,000 or 100% of the aggregate principal amount outstanding.
	www.careerbuilder.com /JobSeeker/Companies/Details.asp?hhname=DynegyInc (1625 words)

	Complaint: SEC v. Dynegy Inc.
		Dynegy's classification of Alpha's $300 million cash flow as operations-based was materially misleading: in essence, the $300 million transaction was a loan to Dynegy, not the result of Dynegy's operations.
		Dynegy has acknowledged that it expected that this hedge would occur because the ABG Supply owners, as sophisticated investors, would not expose their investment to undue risk by failing to hedge.
		Dynegy's misrepresentations and omissions were committed in connection with purchases and sales of Dynegy securities on the secondary market, and violated, therefore Section 10(b) of the Exchange Act, 15 U.S.C. §78j(b), and Rule 10b-5, 17 C.F.R. 240.10b-5.
	www.sec.gov /litigation/complaints/comp17744.htm (3747 words)

	CNN.com - Dynegy, Enron renegotiate - Nov. 27, 2001
		Dynegy, whose shares climbed nearly 6 percent in late afternoon trading Tuesday, declined to comment further.
		Dynegy (DYN: up $1.50 to $40.75, Research, Estimates) is in discussions with Enron for a possible reduction in the price of the takeover.
		Dynegy also is in talks to provide at least $500 million in capital to beleaguered Enron, the source said.
	edition.cnn.com /2001/BUSINESS/11/27/dynegy (451 words)

	Dynegy Inc.: Admin. Proc. Rel. No. 33-8134 / September 24, 2002
		Dynegy violated Section 13(b)(2)(B) by failing to devise and maintain a system of internal controls sufficient to provide reasonable assurances that structured transactions involving special purpose entities are recorded as necessary to permit preparation of financial statements in conformity with GAAP.
		Dynegy understood that energy industry analysts use trading volume as a measure of the activity of energy trading firms; an additional volumetric measure, "notional" volume, is also used by analysts and by Dynegy to denote the total amount of "traffic" on Dynegy's electronic trading platform.
		Dynegy's misrepresentations and omissions relating to Alpha were committed in connection with purchases and sales of Dynegy securities on the secondary market, and violated, therefore, Section 10(b) of the Exchange Act and Rule 10b-5, thereunder.
	www.sec.gov /litigation/admin/33-8134.htm (5214 words)

	BindView - Dynegy, Inc. (Site not responding. Last check: 2007-10-09)
		Dynegy Inc. (NYSE: DYN) is a leading provider of energy and communications solutions to customers in North America, the United Kingdom and Europe.
		Not only is Dynegy committed to being the leading provider of energy and communications solutions, the company is dedicated to enhancing the social and economic well-being of the communities in which it operates.
		The bv-Admin solution's ability to assess, analyze and administer Dynegy's IT infrastructure makes it possible for the company to ensure that all privileged users and their accounts are safely and securely migrated from the Novell platform to the Windows NT operating system.
	www.bindview.com /downloads/public/CaseStudies/Dynegy.cfm (456 words)

	SignOnSanDiego.com > News > Business -- Dynegy posts net loss of $226 million for fourth quarter
		Dynegy also anticipates reporting a net loss of $110 million to $140 million, or 29 cents to 37 cents per share, for 2004 as efforts to wind down contracts and other restructuring initiatives continue.
		Dynegy is among a string of energy companies that have struggled to right themselves in the aftermath of Enron Corp.'s 2001 implosion.
		Dynegy narrowly avoided bankruptcy in 2002 and throughout 2003 focused on refinancing debt, selling unprofitable telecom ventures and exiting third-party trading to lay the foundation for the businesses that will be its future – power generation and natural gas liquids.
	www.signonsandiego.com /news/business/20040129-0720-earns-dynegy.html (439 words)

	BBC NEWS \| Business \| Dynegy to abandon energy trading
		Energy firm Dynegy has said it is to pull out of the energy trading business as part of a major restructuring at the firm.
		Dynegy said the closure of its energy trading operations would help to reduce the drain on its finances.
		The move is expected to lead to the loss of hundreds of jobs, and Dynegy said details of the layoffs would be given "in the near future".
	news.bbc.co.uk /1/hi/business/2334783.stm (277 words)

	Downgrade Pushes Dynegy Closer to the Brink
		Dynegy's (DYN:NYSE - news - commentary - research - analysis) chances of avoiding bankruptcy appear to be fading.
		Although Dynegy's senior debt is still clinging to B-level junk ratings, the debt of its primary operating subsidiary has officially slipped to Caa2.
		Dynegy's stock tumbled 7.9%, to $1.05 in Tuesday morning trading as investors reacted to the downgrade.
	www.thestreet.com /_tsclsii/stocks/melissadavid/10057928.html (290 words)

	USATODAY.com - Dynegy gets pipeline in Enron settlement (Site not responding. Last check: 2007-10-09)
		Dynegy had said Enron signed away its right to the prized 16,500-mile pipeline system running between Texas and the Midwest in exchange for $1.5 billion invested in Enron before a proposed merger of the two competitors collapsed in late November.
		Dynegy said in a news release late Thursday night that the companies have agreed to close the deal by the end of the month.
		Dynegy backed out of a deal to buy the company after Enron said it was in worse financial straits than it had originally disclosed.
	www.usatoday.com /money/energy/2002-01-04-enron-dynegy.htm (468 words)

	Dynegy News (Site not responding. Last check: 2007-10-09)
		Power provider Dynegy Inc. said it hopes to complete the acquisition of rival LS Power Group's generating capacity by the end of March and expects its 2007 earnings to be in line with analysts' forecasts.
		Power provider Dynegy Inc. said Wednesday it hopes to complete the acquisition of rival LS Power Group's generating capacity by the end of March and expects its 2007 earnings to be in line with analysts'...
		Dynegy Inc. officials said Nov. 8 that the company is eager to consummate its combination with LS Power Group in the first quarter of 2007 and start reaping the benefits of the larger power portfolio.
	www.topix.net /com/dyn (748 words)

	Dynegy - Wikipedia, the free encyclopedia
		Dynegy (NYSE: DYN) is a large operator of power plants and a player in the natural gas liquids business, based in Houston, Texas.
		Dynegy, along with Enron, El Paso, Reliant and several other energy companies, was accused of price manipulation and other fraudulent practices during the California energy crisis in 2000.
		Unfortunately for Dynegy's shareholders and employees, these events did nothing to prevent Dynegy itself from lapsing into a crisis similar to that of Enron in late 2002.
	en.wikipedia.org /wiki/Dynegy (420 words)

	Dynegy Restates--Again - CFO.com (Site not responding. Last check: 2007-10-09)
		Dynegy owes $1.3 billion in credit lines that are due in April and May, and another $1.5 billion to ChevronTexaco Corp. in November.
		Dynegy reportedly borrowed the $1.5 billion to repay a loan that was used in the company's attempt to acquire Enron Corp. in November 2001.
		Dynegy said the latest restatements primarily relate to certain adjustments used in valuing the company's U.S. power-marketing and trading portfolio and changes in the company's accounting for certain generation and communications lease arrangements.
	www.cfo.com /printable/article.cfm/3008250?f=options (1594 words)

	Dynegy CEO resigns - May. 28, 2002
		Dynegy said in a conference call Tuesday that President and Chief Operating Officer Steve Bergstrom is a candidate to replace Watson as both chairman and CEO.
		The SEC is also investigating a Dynegy natural-gas deal, dubbed "Project Alpha," in which the company allegedly used complex accounting moves to help cut its tax bill and raise its reported earnings before taxes, interest and other items -- or cash flow -- for 2001.
		Dynegy (DYN: up $0.84 to $10.14, Research, Estimates) had agreed to buy Enron Corp. before questions about Enron's accounting practices scuttled the deal and forced Enron to file the biggest bankruptcy in U.S. corporate history.
	money.cnn.com /2002/05/28/news/companies/dynegy (549 words)

	RIGZONE - Dynegy's Sale of Midstream NGL Business Could Bring in $3B
		Dynegy, which started life as the Natural Gas Clearinghouse in the 1980s, would cut the cord on its last tie to the natural gas business with its proposed sale of its extensive midstream natural gas liquids (NGL) asset and marketing network, a move that analysts say could bring in as much as $3 billion.
		Dynegy's NGL business is centered on Mont Belvieu, TX, along with the oil and gas exploration and production areas of North Texas, the mature Permian Basin of West Texas and southeast New Mexico, and the Louisiana Gulf Coast.
		Dynegy management emphasized that there was no assurance that Dynegy would be successful in divesting the midstream assets, and it noted that the board of directors has not committed to a plan.
	www.rigzone.com /news/article.asp?a_id=22410 (1051 words)

	[No title]
		Dynegy cannot assure you that the proposed combination with LS Power will be consummated on the terms Dynegy currently contemplates, if at all, or that Dynegy will realize the expected benefits from such combination.
		Dynegy expressly disclaims any obligation to update any forward-looking statements contained in this news release to reflect events or circumstances that may arise after the date of this release, except as otherwise required by applicable law.
		Dynegy, LS Power and their respective directors, executive officers, partners and other members of management and employees may be deemed to be participants in the solicitation of proxies from Dynegy's shareholders in respect of the proposed transaction.
	www.shareholder.com /dynegy/ReleaseDetail.cfm?ReleaseID=213951 (623 words)

	BBC NEWS \| Business \| Dynegy crisis claims chief's head
		Dynegy was once set to take over Enron, but it is now being shunned by traders and investors over fears it will become the next Enron.
		Dynegy is primarily an energy trader in the electricity and gas markets, and it was often perceived to have modelled itself on Enron, albeit on a smaller scale.
		Dynegy is under investigation for a number of different reasons.
	news.bbc.co.uk /1/hi/business/2012649.stm (509 words)

	Success Story - Dynegy
		Dynegy, Inc. is a leading marketer of energy products and services.
		However, Dynegy's ability to consolidate information from all sectors of the organization was limited by its five non-integrated legacy systems — causing its finance and accounting group to waste precious time performing manual processes.
		Dynegy, Inc (NYSE:DYN) is a leading provider of energy and communications solutions to customers in North America, the United Kingdom, and Europe.
	www.novell.com /success/dynegy.html (460 words)

	Senator Feinstein Urges FERC to Reject Staff Settlement with Dynegy over Manipulation of Energy Market
		Dynegy's agreement does not include any refunds the company may owe through the recalculation of power prices in California markets between October 2000 and June 2001.
		On January 21, it was reported that FERC staff had entered into a settlement with Dynegy for the disappointing sum of $3,014,942 for charges that Dynegy may have engaged in manipulative behavior such as load shifting, false reporting, and double selling.
		In the first quarter of 2001, Dynegy posted a recurring net income of $137.5 million, a seventy-three percent increase in net income from the $79.4 million it reported in 2000 and a one-hundred-two percent increase from the company's reported first quarter income in 1999.
	www.senate.gov /~feinstein/04Releases/r-dynegysettlement.htm (623 words)

	Dynegy Northeast Generation, Inc.,On behalf of Dynegy Danskammer, LLC
		Dynegy argues that the new information related to the East Fishkill substation and the 345/115 kV transformer demonstrates that the requirements in proposed permit Conditions 13 and 15 for additional fish protection outages would adversely impact electric reliability.
		Dynegy argues further that the potential negative impacts to electric reliability associated with the proposed permit conditions are "costs" that must be considered in making the required BTA determination.
		Therefore, Dynegy contends that it should not be precluded from adjudicating electric reliability as it relates to the terms of the proposed permit conditions.
	www.dec.state.ny.us /website/ohms/decis/dynegyr3.html (2852 words)

	washingtonpost.com: Dynegy Settles Shareholders' Suit
		A former Dynegy executive, Jamie Olis, is serving 24 years in prison for conspiracy and securities and mail fraud for his part in helping disguise loans as energy trades through an off-the-books partnership.
		Dynegy's accounting "was neither of the same magnitude or the same seriousness as Enron, but that's not to diminish the losses to shareholders," Lerach said.
		Dynegy earlier this year projected a 2005 loss of $335 million, partly because of high fuel costs at the company's power plants.
	www.washingtonpost.com /ac2/wp-dyn/A57895-2005Apr15?language=printer (550 words)

	CNN.com - Dynegy countersues Enron - Dec. 3, 2001
		Dynegy filed the lawsuit in Houston, where both it and Enron are based, to protect its ownership option of Northern Natural Gas.
		Dynegy obtained an option to acquire ownership of NNG, a 16,500-mile pipeline, as part of its proposed takeover of Enron (ENE: up $0.11 to $0.37, Research, Estimates).
		Dynegy's countersuit comes as Enron attempts to cobble together a restructuring that includes layoffs at the financially beleaguered energy-trading company.
	edition.cnn.com /2001/BUSINESS/12/03/enron (1159 words)

	rediff.com:Enron vs Dynegy raises key questions: Reuters
		In exiting the merger agreement, Dynegy claimed that Enron failed to disclose its financial liabilities, notably a $691 million note payment that was accelerated to late last month due to a ratings downgrade.
		It also said Dynegy believed Enron had $3 billion in cash on its books, when it had only $1.2 billion, as it disclosed in a "10-Q" regulatory filing after the deal was signed.
		By saddling Dynegy with the threat that it may lose the case and pay a whopping legal settlement, Enron may effectively be trying to force Dynegy to drop its claim to the pipeline.
	www.rediff.com /money/2001/dec/06enron1.htm (862 words)

	USATODAY.com - Dynegy CEO Chuck Watson resigns (Site not responding. Last check: 2007-10-09)
		NEW YORK — Chuck Watson, chairman and chief executive of Dynegy (DYN), resigned Tuesday in the face of two federal investigations into the company's energy trading and fading investor confidence.
		Dynegy's stock has plunged almost 80% since November, when the company made a failed takeover bid for Enron.
		The investigations are focused on two transactions on Nov. 15, 2001, when Dynegy bought and simultaneously sold 20,000 megawatts of power from CMS — enough to power Houston for four months.
	www.usatoday.com /money/energy/2002-05-28-dynegy-ceo-resigns.htm (533 words)

	Dynegy expects quick close : Local Business : gosanangelo.com
		Dynegy announced in September plans to purchase power generating assets from privately held LS Power, of East Brunswick, N.J., for $4.1 billion.
		Last month, Dynegy reported a third-quarter loss of $69 million, or 14 cents per share, for the quarter ended Sept. 30, compared to a profit of $29 million, or 6 cents per share, a year earlier.
		Also Wednesday, Dynegy said in a regulatory filing it expects to record a pretax, non-cash charge of $40 million in the fourth quarter related to a write-down in value at one of its gas-fired peaking facilities.
	www.gosanangelo.com /news/2006/dec/18/dynegy-expects-quick-close (592 words)

	Lemon Laws Won't Save Dynegy
		Echoing statements from Dynegy executives on a Monday conference call, company spokesman Steve Stengel denied his company is doing the merger because it feared being damaged by an Enron collapse.
		Dynegy executives repeatedly stated Monday that they wanted to get rid of Enron's noncore operations and keep the trading business, which has contributed the lion's share of Enron earnings, as well as pipeline assets.
		Dynegy needs to break out markups and markdowns and reveal which assets are being subject to the adjustments.
	www.thestreet.com /markets/detox/10003860.html (1049 words)

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