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Technology Stocks : Intel Corporation (INTC)

INTC 36.78

+2.7%

Nov 26 3:59 PM EST

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To: Tenchusatsu who wrote (125497)	1/18/2001 5:36:01 PM
From: GVTucker	Read Replies (1) of 186894

And yet more evidence that they don't get it; San Francisco is suing the producers: San Francisco officials have evidence that electricity producers conspired to raise prices, City Attorney Louise Renne said in announcing a suit against 12 companies, including units of PG&E Corp. and Sempra Energy. The lawsuit is one of the first of its kind to be filed by a public agency over the state's electricity crisis, and seeks up to $10 billion in damages on behalf of the state. Three San Diego water districts filed a similar suit Tuesday against Enron Corp., Sempra, Duke Energy Corp. and others. ``People are starting to talk,'' Renne said, referring to the evidence her office has collected. The law of supply and demand alone did not cause the higher prices, Renne said. ``The plain truth is that while energy companies want Californians to believe this crisis is because of market forces, we believe high prices are due to market manipulation by energy producers themselves,'' Renne said. quote.bloomberg.com This would be hilarious if it wasn't so scary.

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