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Pastimes : The California Energy Crisis - Information & Forum
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To: Daniel G. DeBusschere who wrote (797)8/2/2001 11:04:03 PM
From: portage   of 1715
 
Oh yeah, Glynn, LOL....I almost forgot about that shiny-headed doofus. He's the guy who said a few years ago that PG&E would take all the risk of price increases on the upside if they could capture the excess profits when the prices went down (which they did). But then he turns around, whines about gamed prices and the retail cap, while he's shoveling all the former profits to the ring-fenced parent, conveniently forgetting his earlier promise, no doubt. Let's all now bow down to the great captains of industry.

Then along comes the patsy bankruptcy judge to not only approve the ring-fencing, but to authorize a doubling of salary bonus for Glynn and his head clowns so they can retain this "top talent" during the bankruptcy hearings. Seems like the rest of us are lucky to get a 10% bonus in a year when we actually do well. This guy makes hubris look like the corner beggar. UFB.

This must be what the Roman Empire looked like just before it collapsed. Something tells me he'll be hung out to dry before this is all over.

Maybe we should send Gray Davis a copy of these quotes and see how he deals with PG&E from here on out ........ could be time to confiscate some assets, heh heh.

Dan, you're a regular fount of anti-deregulation supporting evidence. Seems to me, in a totally deregulated market, they'd all build capacity only up to the point where they could shoot prices to the roof while they game supply to at least 1% below demand (the Zeuspaul theorem). Then, all the windfall profits go out of state to play the game somewhere else, while the in-state infrastructure rots away, leaving even worse supply shortages.

This dog ain't gonna hunt - the question is just how long it takes joe six pack to wake up to it.
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