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Gold/Mining/Energy : Mirant Corporation (MIR) -- Ignore unavailable to you. Want to Upgrade?

To: Braincramp who wrote (738)	9/7/2002 12:21:07 AM
From: RCMac	Read Replies (1) \| Respond to of 903

Merchant Energy May Have Already Hit Bottom Message 17964335 If merchants manage to sell some of their contracts at something close to their net present value, that would be the clearest signal that the worst is over for the industry. It would demonstrate the industry isn't going away and that some of these companies did take advantage of the boom part of the cycle. And if forward prices make a final push to the level necessary to cover fixed costs, banks could renew debt facilities. That is their business, after all - lending to going concerns. Maybe not all of the companies will get to that end point, but most now look like they will. Mirant and Calpine seem to get the most votes of confidence.

To: Braincramp who wrote (738)	9/11/2002 8:06:04 AM
From: Oeconomicus	Read Replies (2) \| Respond to of 903

Just a thought, but would everyone agree that the lack of a sustained recovery in MIR at this point is likely due to concerns over whether the asset sales are cutting too deep into profitable businesses? OK, the 10-Q delay doesn't help, but the local press in Atlanta ran a big article last weekend on MIR's asset sales and noting the contribution to profits of several such as WPD. Analysts are now reducing future profit estimates to account for these sales, though I don't think any of the estimate cuts would push us even to a PE of 3. Anyway, it was nice to see news of some growth, hiring even, in one area: Mirant Boosts Weather-Risk Trade Despite Energy Pullback Tuesday September 10, 11:28 am ET By Mark Golden, Of DOW JONES NEWSWIRES biz.yahoo.com Bob PS: Has anyone heard when they expect to file the 10-Q?