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To: Roebear who wrote (85204)	1/24/2001 10:32:14 AM
From: kodiak_bull	Read Replies (1) \| Respond to of 95453

I'm sorry, these people are idiots. Liz Clayman, talking with Hecht (ceo of PPL): Hecht: We've reserved in earnings against $17 million owed [from the California utilities] in 2000. So, any payments on those amounts will flow straight through to the bottom line in 2001. Liz (sounding reportorial): What does that mean? Hecht: We've reserved against earnings. Liz (pressing the issue, like a good reporter) : Does that mean you've hedged against those losses or have a plan? Hecht: Well, we reserved against 2000 earnings, so if the money comes in, it will be earnings in 2001. Liz (clearly befuddled) : Okay. Next . . . Some days I regret ever connecting the cable and mini TV to my office here.