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To: ItsAllCyclical who wrote (83584)	1/5/2001 4:07:12 PM
From: Think4Yourself	Read Replies (1) \| Respond to of 95453

Has an entire state ever been on the verge of blackouts? Has the largest utility in the world ever been on the verge of bankruptcy? Has a government agency (PUC) ever acted so irresponsibly? Well, OK, I'll give you that one :o) CNBC reported Wednesday that the fed indicated in the statement with their cut that they were open to cutting again at their meeting. Definitely understand your concern about techs. I am not buying any more tech either, at least not until the smoke clears. Energy is the ONLY sector I see that will meet and beat earnings this quarter, and probably next quarter as well. Que: Liked the action in CRK today. Was hoping it would go down some more though, at least long enough for a limit buy to get filled. Oh well, can't complain.

To: ItsAllCyclical who wrote (83584)	1/5/2001 4:08:13 PM
From: excardog	Read Replies (1) \| Respond to of 95453

O/T Another clown weighs in on CA power crisis: Conservative Consumer Advocate Andy Martin Suggests California Utilities File For Bankruptcy 'Without Delay' Martin Criticizes White House Involvement In California Energy Crisis As Aftershocks From 'Clinton Economy' NEW YORK, Jan. 5 /PRNewswire/ -- Conservative consumer advocate Andy Martin will hold a New York news conference Monday, September 8th, in front of the New York Stock Exchange to criticize White House involvement in the California electricity crisis. Martin will recommend that California utilities file for bankruptcy ``without delay.'' Martin, a law-and-economics expert, is a specialist in public economics. The White House is convening a California electricity crisis meeting during the week of January 8th. News conference details: Location: Sidewalk, New York Stock Exchange, 20 Broad Street Date: Monday, January 8, 2001 Time: 11:00 a.m. Martin will state: ``I believe the Clinton Administration is making a big mistake in seeking to federalize California's electricity crisis. The crisis comes about because Californians want subsidized energy. Clinton officials may endanger long-term benefits from deregulation for all Americans. You cannot have free market supply and fixed-price demand, as they do in California. In New York City last summer, when energy prices went up, consumer bills skyrocketed. Why shouldn't California ratepayers face the same burden? ``We all want computers, gizmos and other electrical doo dads. Californians need to accept the fact they have to pay for these conveniences. They need to allow for construction of new energy plants. There is no escaping reality, not even in California. What California needs is going to cost money, lots of it. There is no sense pretending otherwise, or blaming utilities. ``There is no reason why federal dollars should be used to subsidize Silicon Valley millionaires or Hollywood movie moguls. ``What should electric utilities do? I believe and strongly recommend they file for bankruptcy immediately. My management experience tells me that bankruptcy delayed is not bankruptcy averted. There is no way the political process is going to solve electric utilities' financial problems. The companies appear to be insolvent. For utilities to borrow more money is only going to wipe out their shareholders. ``We are now seeing the fallout and 'aftershocks' from the Clinton economy. It won't be pretty as excesses of the 90s are purged through our economic system.''