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* Calpine Corp. had its credit rating cut one notch to B3 by Moody’s Investors Service on concern about weak cash flow and underutilization of the San Jose company’s power plants.
* NBC Universal filed an arbitration claim against Paxson Communications Corp., claiming that Paxson’s plan to end a television sales agreement violated a contract.
* Daniel Boyle, a former Enron Corp. financial vice president, was sentenced to 46 months in prison for his part in a scheme to inflate company earnings -- not life behind bars as the government recommended.
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