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Strategies & Market Trends : Take the Money and Run

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To: Original Mad Dog who wrote (1560)	6/3/2002 11:51:18 AM
From: AugustWest	Read Replies (1) of 17639

(COMTEX) A: El Paso Treasurer Commits Suicide A: El Paso Treasurer Commits Suicide Jun 03, 2002 (TheStreet.com via COMTEX) -- Natural gas company El Paso said Senior Vice President and Treasurer Charles Danner Rice is dead following an apparent suicide. According to a Reuters report, Rice died on Sunday. Rice's death is the second time in recent months that an executive from an embattled energy company took his own life. In January, a former vice chairman of Enron, Clifford Baxter, was found dead in a car after he killed himself. Just last week, El Paso said it planned to cut half of its trading staff and concentrate on its old business of selling gas. The move reflects a growing lack of tolerance in the capital markets for the extreme volatility of energy trading and is, to some degree, a blueprint for other companies trying to extricate themselves from a sometimes brutal line of business. Along with the layoffs the company was also forced to lower earnings guidance for the second time this year. By TSC Staff (C) 1996 - 2002 TheStreet.com, Inc. All rights reserved. -0- * end of story *

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