Charles Watson
Encyclopedia
Charles "Chuck" Watson is the founder of The Natural Gas Clearinghouse. Later renamed Dynegy
, the firm was a highly diverse energy trading company that was similar to rival Enron
in many respects. Watson attempted to orchestrate a buyout of Enron in late 2001, but withdrew following the restating of Enron's financials. At one time this was the 11th to the largest corporation on the Fortune 500.
Watson left Dynegy in late 2002 when Dynegy's own finances took a turn for the south amid allegations of accounting frauds, misconduct in the California energy crises and other serious problems. He was replaced by Bruce Williamson
.
He later founded Eagle Energy Partners where he acted as the chairman. Eagle Energy Partners was later acquired by Lehman Brothers and then sold to EDF Trading, pending Lehman Brother's bankruptcy. At Lehman Brothers, he served as a Partner and Managing Director. He currently serves on the board of EDFT, the managing partner and governing body of Eagle Energy Partners. He is also a Senior Advisor to the EDF Group in North America.
Watson, an Oklahoma State University alum, and member of the Sigma Chi
fraternity, is principal of Caldwell Watson. He is currently the minority owner of the Houston Aeros
hockey team, and is the vice chairman and minority owner of the Houston Texans
, where he chaired Houston's 2004 Super Bowl host committee.
Watson was inducted into the Texas Business Hall of Fame and was named "Master Entrepreneur" by Ernst & Young. In 2005, Watson was named Chairman of the Sigma Chi Foundation.
Watson has served on the Boards of the Independent Petroleum Association of America (IPAA), Natural Gas Supply Association (NGSA), Interstate Natural Gas Association of America (INGAA), Edison Electric Institute (EEI), Natural Gas Council (NGC) and is currently on the Board of Baker Hughes, Baylor College of Medicine, Mainstream Renewable Power, Shona Energy Company, Patman Drilling Inc., Central Houston Inc., Angeleno Group and Mainstream Renewable Power. In 1996 Watson co-founded Caldwell Watson Real Estate Group and was a Principal. He is the chairman of Wincrest Ventures, a venture capital company he founded in 1994.He has been a Director of Theatre Under the Stars and Hobby Center for the Performing Arts. Watson is a Member of the Executive Committee of Edison Electric Institute as well as a founding Member of the Natural Gas Council.
Dynegy
Dynegy Inc. , based in Houston, Texas, United States, is a large owner and operator of power plants and a player in the natural gas liquids and coal business...
, the firm was a highly diverse energy trading company that was similar to rival Enron
Enron
Enron Corporation was an American energy, commodities, and services company based in Houston, Texas. Before its bankruptcy on December 2, 2001, Enron employed approximately 22,000 staff and was one of the world's leading electricity, natural gas, communications, and pulp and paper companies, with...
in many respects. Watson attempted to orchestrate a buyout of Enron in late 2001, but withdrew following the restating of Enron's financials. At one time this was the 11th to the largest corporation on the Fortune 500.
Watson left Dynegy in late 2002 when Dynegy's own finances took a turn for the south amid allegations of accounting frauds, misconduct in the California energy crises and other serious problems. He was replaced by Bruce Williamson
Bruce Williamson
Bruce Williamson is the CEO of Dynegy, a Houston-based energy company.Williamson was born in Great Falls, Montana to George and June Williamson. Williamson graduated from Great Falls High School in 1977, spent his freshman year of college at the University of Idaho, transferred to the University of...
.
He later founded Eagle Energy Partners where he acted as the chairman. Eagle Energy Partners was later acquired by Lehman Brothers and then sold to EDF Trading, pending Lehman Brother's bankruptcy. At Lehman Brothers, he served as a Partner and Managing Director. He currently serves on the board of EDFT, the managing partner and governing body of Eagle Energy Partners. He is also a Senior Advisor to the EDF Group in North America.
Watson, an Oklahoma State University alum, and member of the Sigma Chi
Sigma Chi
Sigma Chi is the largest and one of the oldest college Greek-letter secret and social fraternities in North America with 244 active chapters and more than . Sigma Chi was founded on June 28, 1855 at Miami University in Oxford, Ohio when members split from Delta Kappa Epsilon...
fraternity, is principal of Caldwell Watson. He is currently the minority owner of the Houston Aeros
Houston Aeros
The Houston Aeros are a professional ice hockey team in the American Hockey League. The team plays in Houston, Texas, at the Toyota Center. They are the AHL affiliate of the NHL's Minnesota Wild.- History :...
hockey team, and is the vice chairman and minority owner of the Houston Texans
Houston Texans
The Houston Texans are a professional American football team based in Houston, Texas. The team is currently a member of the Southern Division of the American Football Conference in the National Football League...
, where he chaired Houston's 2004 Super Bowl host committee.
Watson was inducted into the Texas Business Hall of Fame and was named "Master Entrepreneur" by Ernst & Young. In 2005, Watson was named Chairman of the Sigma Chi Foundation.
Watson has served on the Boards of the Independent Petroleum Association of America (IPAA), Natural Gas Supply Association (NGSA), Interstate Natural Gas Association of America (INGAA), Edison Electric Institute (EEI), Natural Gas Council (NGC) and is currently on the Board of Baker Hughes, Baylor College of Medicine, Mainstream Renewable Power, Shona Energy Company, Patman Drilling Inc., Central Houston Inc., Angeleno Group and Mainstream Renewable Power. In 1996 Watson co-founded Caldwell Watson Real Estate Group and was a Principal. He is the chairman of Wincrest Ventures, a venture capital company he founded in 1994.He has been a Director of Theatre Under the Stars and Hobby Center for the Performing Arts. Watson is a Member of the Executive Committee of Edison Electric Institute as well as a founding Member of the Natural Gas Council.
External links
- Caldwell Watson's profile of Watson
- Chuck Watson on OSU-Stillwater Leaders website
- http://people.forbes.com/profile/charles-l-watson/9457
- http://www.mainstreamrp.com/pages/Chuck-Watson.html
- http://investing.businessweek.com/businessweek/research/stocks/private/person.asp?personId=554615&privcapId=11797244&previousCapId=19007&previousTitle=Baker%20Hughes%20Inc