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Gold/Mining/Energy : Enron - Natural Gas Industry -- Ignore unavailable to you. Want to Upgrade?

To: buffaloha who wrote (1237)	12/21/2001 1:42:11 PM
From: James Calladine	Respond to of 1433

ENE ARISING FROM ITS ASHES? Just as a matter of gut feel, I expect that when the TRUTH about ENE's trading operations becomes known it will be found that it was NOT the money-spinner that it was projected to be, but rather a highly leverage betting game that produced good results on the run up of energy prices, and catastrophic results on the way down. So I think your "house of cards" characterization is probably a good one. Once "card-houses" fall down it is hard to re-erect them, because their existence in the first place is based on trust, and once that is gone, it is GONE. Namaste! Jim

To: buffaloha who wrote (1237)	12/26/2001 3:24:55 PM
From: buffaloha	Read Replies (1) \| Respond to of 1433

Is C ready to buy ENE...? Or possibly a consortium of banks plus ENE? Truth is: only way a lot of these guys get their money back is to make ENE survive in some manner. Trust and good credit lines are the only real commodities in this business. If that is solved by the banks, watch out! marketwatch.com Could be a lot of action before the current Jan. 10 auction date. Plus, the 30 day rule for many sellers washes out by 12/31. While most bankruptcies result in zero for the stockholder, this could be an exception, and it is in reorganization not liquidation (yet). It certainly has happened before... Could be interesting....