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Gold/Mining/Energy : Big Dog's Boom Boom Room -- Ignore unavailable to you. Want to Upgrade?

To: grinder965 who wrote (26518)	10/21/2003 6:33:57 AM
From: quehubo	Respond to of 206085

I think the term underfunded pension liabilities is well understood here. Do investors here know how to evaluate underfunded major maintenance liabilities for distressed owners the new technology gas turbine units? The maintenance costs are stupendous on 3 year cycles for units that are operating. I know of desperate players operating units with frequent starts and stops just trying to find a place in this market to generate some cash. Combined cycles starting and stopping daily when the proforma expected something much different. If I was betting my equity heavily on CPN RRI DUK etc I would make sure I got a good feel for how these future expenses are being accrued and where the cash will come from. This may be very hard to do because some of the costs are covered through service agreements that leave owners with varying degrees of cost exposure.