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Pastimes : The California Energy Crisis - Information & Forum -- Ignore unavailable to you. Want to Upgrade?

To: Daniel G. DeBusschere who wrote (792)	8/2/2001 5:01:11 PM
From: Raymond Duray	Read Replies (1) \| Respond to of 1715

Hi Daniel, Re: corporate management must maximize profits for the shareholders otherwise they are not doing their job. When I look at the cold hard facts surrounding the bankruptcy of PG&E and the near-bankruptcy of SCE, it is becoming abundantly clear that the corporate managements have only one constituency that they are taking care of. Themselves. They are destroying the value of the stocks in their subsidiary corporations, and taking down a lot of pension fund and mutual fund investors with their chicanery. I find your homily about maximizing profits for shareholder values to be quaint and naive in regard to these two rogue corporations. It is abundantly clear to me that shareholders are just as much to be made victims in the manipulations that you now accede to, as have been the consumers of electrical power and the State treasury. The only winners in this whole tawdry affair are the vulgar greedsters in the executive suites who've insulated themselves from all accountability for maintaining plant and equipment, force account and loyal shareholders and bondholders. They've stolen from everyone, just to line their own greedy fat asses. I don't see how you could see it otherwise. Re: = left wing radical ecowacko statement you should be ashamed of yourself!! Shame? Daniel, that is a bit of a powder puff witticism and hardly damaging to anyone or anything. I'm amazed you can be so snooty about a little fun and so sanctimonious about the major reaming that Drill & Spill's friends are giving to the state of California. Your response seems extraordinarily disproportionate to the facts. Cordially, Ray :)