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In Memory of Rajat Deb: Inspiring Man of Ideas and Remarkable Silicon Valley Archetype

By Anjuli Deb -- With deep sadness and profound appreciation, we share the passing of LCG's founder, Dr. Rajat K. Deb. He was our president and one of the first entrepreneurs in the computer revolution. He was also our friend, our teacher and mentor, and for a few of us, our father and grandfather.

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Oklo and Centrus Sign Letter of Intent to Purchase Nuclear Fuel for Aurora Powerhouse Deployment in Southern Ohio

LCG, June 19, 2026--Oklo Inc. and Centrus Energy Corp. announced yesterday a Letter of Intent under which Centrus agrees to supply enough domestic high-assay low-enriched uranium (HALEU) to power up to five of Oklo's Aurora nuclear powerhouses for multiple years, with deliveries to Oklo scheduled to begin in 2029. Centrus will supply HALEU from its American Centrifuge Plant in Pike County, Ohio to support Oklo’s planned 1.2 GW power campus in the region

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Industry News

Dynegy Covers Backside in Enron Deal

LCG, Nov. 13, 2001--Shares in Dynegy Inc. continued their strength this morning as the company revealed the extent of the financial protection it has secured as part of a $10 billion rescue bid for Enron Corp., the Financial Times reported.

Chuck Watson, chairman of Dynegy, said: "We are absolutely adequately protected, but I am confident we will not need it." The ultimate protection is, the company has the right to abandon the deal if Enron's earnings are revised down by more than 10 to 15 percent.

Under a number of material adverse change clauses, Dynegy has also negotiated a range of other conditions relating to balance sheet impairment, off-balance-sheet exposure, credit rating downgrades and the outcome of a Securities and Exchange Commission investigation, the paper said.

Dynegy could walk away if Enron's legal liabilities topped $3.5 billion, and the smaller company has also taken into consideration that "off-balance-sheet liabilities" bring total debt to $20 billion, including $15 billion of on-balance-sheet debt and preferred stock.

Dynegy has also estimated that the international assets need to be written down by $5 billion and the broadband assets by $500 million to $600 million, according to people close to the negotiations. In addition, accounting for the takeover as a purchase makes it far easier for Dynegy to do the write-downs.

According to the Financial Times, the most important part of the cushion is price. "The biggest protection is, we bought Enron for $10 billion -- or $8 billion or $9 billion. Who's counting?" Watson said. "That is a major protection."

The paper said that more than half of Enron's 20,000 staff could be cut as the once-mighty company completes key asset sales of the businesses -- outside core energy trading and marketing -- that have used up cash in return for low-quality earnings.

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