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Gold/Mining/Energy : CPN: Calpine Corporation
FRO 23.66-0.3%Nov 7 3:59 PM EST
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From: Karin7/31/2001 2:07:20 PM
   of 555
 
"Last week, five state energy consultants
were fired by Davis' staff for conflicts of interest because they
helped California buy power from Calpine, a company in which they owned stock, state officials said. The
consultants, who were hired by the state in January, didn't file economic-interest statements until July, when Secretary
of State Bill Jones, a Republican who hopes to challenge Democrat Davis next year, revealed that the consultants and
energy traders held stocks in energy companies they were buying power from. The SEC investigators said a
preliminary investigation has revealed that several other employees and consultants working directly with
Mr. Davis on energy issues have also purchased 'significant' shares of Calpine stock between January and
July, when the DWR became the state's main power purchaser. Individuals purchased stocks in other energy
companies, but invested heavily in Calpine, the investigators said." (Dow Jones Newswire 7-30-01).
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