Giuliani wanted to chair WorldCom\nNEW YORK -- A leading investor of WorldCom Inc. reportedly wants former New York Mayor Rudolph Giuliani to be named the company's chairman, The Wall Street Journal reported Monday. \nThe investor, David Matlin, has started a fund with Giuliani to accumulate at least one-third of WorldCom's bonds. Matlin's group of investors could retain the right to appoint board members if it owns more than a third of the company's bonds. \nSources close to the situation told the Journal that Matlin, who heads a bond-investor group backed by Credit Suisse First Boston, is expected to urge U.S. Bankruptcy Judge Arthur Gonzalez to accept a reorganization plan under which Giuliani would become chairman. \nWorldCom, the telecommunications giant, admitted a $9 billion accounting fraud earlier this year and is mired in the biggest bankruptcy in U.S. history.
Regulators release power co. findings\nSACRAMENTO, Calif. -- A report by federal energy regulators details how two power companies may have conspired to drive up prices during California's 2000-2001 energy crisis. The previously undisclosed findings have angered officials who say regulators let the companies off with just a slap on the wrist. \nIn two taped telephone calls, Williams Co. employee Rhonda Morgan told an AES Corp. worker that "Williams wanted the outage to run long" at a Long Beach power plant that had closed for repairs two days earlier, according to the report. \nThe report says employees also cut deals to shut down a second power plant AES operated for Williams.\nA Federal Energy Regulatory Commission spokesman declined to comment.\nWilliams and AES on Friday denied any wrongdoing.
