Cereol is a branch of Italy's energy company Edison SpA ( I . ED ), which is selling the unit to focus on its core energy business.
32.
Those new managers still believe Chapter 11 was the right thing to do, saying it preserves the value of core energy assets, which Enron says remain profitable.
33.
A person close to Enron asserted on Thursday that Dynegy delayed the renegotiation of the merger, and the delay contributed to the deterioration of Enron's core energy-trading business.
34.
While Enron has a large pipeline business and other tangible properties, its core energy-trading operation was by far its most valuable franchise and the biggest generator of profits.
35.
The analysts told the Senate Governmental Affairs Committee that despite plummeting Enron stock values, they viewed the Houston-based company as sound because its core energy business remained viable.
36.
Lesar said Halliburton's core energy-services business continues to be strong, allowing the company to expect fourth-quarter earnings of 25 cents to 27 cents, excluding the $ 120 million charge.
37.
He also said that von der Heyden had repositioned the company around its core energy business and developed new strategic and business plans, although he did not provide details.
38.
But such concerns were mostly pushed aside for as long as the company's stock price performed well and its core energy trading business turned out higher and still-higher profits.
39.
A haggard Chuck Watson, chairman and chief executive of Dynegy, said weak finances and decline in Enron's core energy trading business left his company no choice but to walk away.
40.
Company officials say they're still reviewing options, but on Wednesday said they are temporarily suspending all payments to creditors other than those needed to maintain its core energy trading operations.
