Business
Energy: Power industry and investors are shaken by the latest revelation of unethical practices. The Houston company blames ‘misguided employees.’
May 14, 2002
Wall Street: Shares of AES, Reliant Resources and Williams surge as companies sell assets to raise cash and trim debt.
Aug. 23, 2002
Reliant Energy Inc., the owner of Houston’s utility and a power supplier in California and other states, said Monday that first-quarter earnings more than doubled on higher profit from energy-trading and natural-gas businesses.
April 17, 2001
Reliant Resources Inc. said two of its top energy-trading executives resigned after the company revealed sham electricity and natural gas transactions that inflated its business.
May 17, 2002
Reliant Resources Inc.’
Aug. 1, 2002
El Paso Corp., the biggest U.S. natural-gas pipeline owner, said Wednesday that it slashed its 2002 profit forecast, cut energy-trading jobs by half and plans to sell assets and $1.5 billion in stock to raise cash and trim debt.
May 30, 2002
Director becomes acting chief. Moves come two weeks after energy firm averted bankruptcy.
April 15, 2003
Energy: The trader says it will cooperate with the requests from the U.S. attorney’s office.
May 27, 2002
The company and individuals are accused of manipulating prices in the state energy crisis.
April 10, 2004
Reliant Resources Inc. and Reliant Energy settled an investigation by U.S. securities regulators Monday, promising never to engage in improper “round-trip” trades or accounting transactions designed to shift earnings.
May 13, 2003