Chuck

Dynegy Inc. Chairman Chuck Watson, who may know as much as anyone about the Enron Corp. fiasco, told a Houston group Thursday that his former rival’s downfall should not become an “indictment” of energy trading. In a speech to the Houston Forum, Watson laid the blame for Enron’s troubles on the company’s dubious accounting practices and nothing else.

Dynegy Chairman Chuck Watson said his company is “encouraged” by Enron’s success in extending a deadline on a $690 million obligation until mid-December and is “working to accelerate the regulatory approvals required to complete the merger with Enron Corp.” in light of the continuing free fall of Enron’s stock Wednesday. The stock fell more than $2 early in the day to $4.75 but moved back above $5 following Enron’s announcement that it was able to find some breathing room.

Dynegy Chairman Chuck Watson said last Wednesday his company was “encouraged” by Enron’s success in extending a deadline on a $690 million obligation until mid-December and is “working to accelerate the regulatory approvals required to complete the merger with Enron Corp.” in light of the continuing free fall of Enron’s stock. The stock fell more than $2 early Wednesday morning to $4.75 but moved back above $5 following Enron’s announcement that it was able to find some breathing room.

Far from abandoning its future North American natural gas focus, Dynegy Inc.’s CEO Chuck Watson affirmed last week that the company’s purchase of UK-based BG Group PLC’s natural gas storage facilities and assets is only replicating the Houston-based marketer’s successful model, saying it will be the “cornerstone” of its European energy network, providing a “springboard for faster growth” globally.

Far from abandoning its future North American natural gas focus, Dynegy Inc.’s CEO Chuck Watson said Monday that the company’s purchase of UK-based BG Group PLC’s natural gas storage facilities and assets is only replicating the Houston-based marketer’s successful model, saying it will be the “cornerstone” of its European energy network, providing a “springboard for faster growth” globally.

Dynegy Inc. CEO Chuck Watson said last week he had “never beenso excited” about his company’s fourth quarter and yearendearnings, because across the board, every business segment of theHouston-based company was up. Referring to California, Watson saidDynegy had taken steps “months ago,” in anticipation of today’sproblems, and now was actively supporting planned changes there.

Dynegy Inc. CEO Chuck Watson said yesterday he had “never beenso excited” about his company’s fourth quarter and yearendearnings, because across the board, every business segment of theHouston-based company was up. Referring to California, Watson saidDynegy had taken steps “months ago,” in anticipation of today’sproblems, and now was actively supporting planned changes there.

Sounding more like a visionary guru than a hard-charging CEO, Dynegy’s Chuck Watson offered up his forecast last week for successful energy companies of the future, telling participants at Energy Economy 2000 in Houston that businesses will need to own the technology they use, recruit and keep technical talent and most important, transform their companies from the traditional asset-driven formula to a knowledge-driven strategy by embracing the Internet.

Sounding more like a visionary guru than a hard-charging CEO,Dynegy’s Chuck Watson offered up his forecast yesterday forsuccessful energy companies of the future, telling participants atEnergy Economy 2000 in Houston that businesses will need to own thetechnology they use, recruit and keep technical talent and mostimportantly, transform their companies from the traditionalasset-driven formula to a knowledge-driven strategy by embracingthe Internet.