CPN: Calpine Corporation Message Board

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Gold/Mining/Energy : CPN: Calpine Corporation

FRO 23.66

-0.3%

Nov 7 9:30 AM EST

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To: kodiak_bull who wrote (224)	12/20/2001 11:23:19 AM
From: aerosappy	of 555

Kb regarding <<Am I missing something here?>> No, your analysis is correct. While Clement is to be commended for his often insightful research, I think he misstated the return for the new debenture holders. The new debenture issue shows one dark side of CPN -- the greed and arrogance of management. In April 2001, they gave the debenture buyers a 1-year put. A few more b.p could have postponed that put until 2003 or 2004. And all along the way, Ann Curtis has been dumping stock.....

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