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Strategies & Market Trends : Piffer OT - And Other Assorted Nuts -- Ignore unavailable to you. Want to Upgrade?

To: Junkyardawg who wrote (37167)	6/2/2000 3:40:00 PM
From: Diana	Read Replies (1) \| Respond to of 63513

CMRC broke through! Is something up for this weekend?

To: Junkyardawg who wrote (37167)	6/3/2000 8:50:00 PM
From: John Pitera	Respond to of 63513

Hi dawg, you know this CMRC- US Utility Ind. deal did not get much media attention but it's a pretty sizable deal. I think that many people are not even really watching all these deals unfold that closely. --------- Thursday June 1, 6:45 pm Eastern Time U.S. utility Internet group selects Commerce One NEW YORK, June 1 (Reuters) - The consortium of U.S. utilities formed early this year to develop an Internet-based business-to-business (B2B) marketplace named Commerce One Inc. (NasdaqNM:CMRC - news) as its primary technology partner, the companies said Thursday. The group of 15 utilities said it added six members -- Carolina Power & Light Co, (NYSE:CPL - news); DTE Energy Co.(NYSE:DTE - news); Dominion Resources Inc. (NYSE:D - news); El Paso Energy Corp.(NYSE:EPG - news); GPU Inc.(NYSE:GPU - news); and Ontario Power Generation. The group also formed Pantellos Corp. to operate and manage an open, independent Internet B2B marketplace for the purchase of goods and services other than energy. When the group was announced in late March, the original members estimated they accounted for 50 percent of the non-fuel purchases by utilities, a market they now say totals $130 billion a year. The 21 companies have contributed initial capitalisation of $100 million to fund Pantellos' development. In return, the companies will hold 85 percent of Pantellos' equity, with the rest reserved for management, which is now being recruited, according to Pat Hemlepp, a spokesman for American Electric Power Co. Inc.(NYSE:AEP - news), one of the original 15. He declined to say how this equity -- and the investment -- was split among the 21. Morgan Stanley Dean Witter has been retained as the financial advisor for the new company, and the professional services firm of PricewaterhouseCoopers continues to provide business, the group's statement said. Besides American Electric Power, the original group included Cinergy (NYSE:CIN - news), Consolidated Edison Inc (NYSE:ED - news), Duke Energy (NYSE:DUK - news), Edison International (NYSE:EIX - news), Entergy Corp. (NYSE:ETR - news), FirstEnergy Corp. (NYSE:FE - news), FPL Group (NYSE:FPL - news), PG&E Corp. (NYSE:PCG - news), Public Service Enterprise Group (NYSE:PEG - news), Reliant Energy (NYSE:REI - news), Sempra Energy (NYSE:SRE - news), Southern Co (NYSE:SO - news), TXU Corp. (NYSE:TXU - news) and Unicom (NYSE:UCM - news). The group explained Pantellos (pan-TELLos) is derived from a Greek word that can be interpreted as ``complete'' or ``absolute.'' The name reflects the company's goal of providing integrated e-supply chain solutions to both buyers and suppliers in the energy marketplace. To date, they added, Pantellos has initiated contact with some 1,500 suppliers to begin forging strong, mutually beneficial relationships in areas of interest and opportunity to all supply chain participants.