Economy - Constellation Energy falls again today

Yesterday shares in BGE owner Constellation Energy plunged $10 on speculation that Constellation was owed money by Lehman Brothers, the Wall Street trading firm that just entered bankruptcy proceedings. As Hanah Cho reports in today's Baltimore Sun, Constellation said late yesterday that Lehman posed it no danger.

Constellation Energy Group worked to reassure Wall Street yesterday that its wholesale energy and credit relationships with Lehman Brothers will not have a "material adverse effect" on the Baltimore company, which saw its shares lose 18 percent amid a broader market sell-off.

Reassurance is not what appears to have happened. Constellation is down another $4 this morning.




Source: Baltimore sun