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To: oldirtybastard who wrote (58328)	1/16/2001 6:09:50 PM
From: Gary M. Reed	Read Replies (2) \| Respond to of 436258

ODB, You may be correct, but keep this in mind: who are (generally speaking) the core holders of utility stocks? People on fixed incomes, i.e. retirees. Electric utilities are the classic "widows and orphans" stocks. And retirees vote based on their pocketbooks. If Davis & Co. take a "caveat emptor" approach and let their equity die, it could be political suicide. When I was a retail broker, I remember retirees going medieval on me because their $15 dividend checks weren't mailed out on time--what do you think they'd do if their retirement equity took a hit, and the government let it happen?