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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: ild who wrote (46269)	11/29/2005 9:12:59 PM
From: Elroy Jetson	Respond to of 110194

Ken Derr, former Chevron CEO, is a cost-cutting "expert". After oil prices declined in 1983, Chevron bought Gulf Oil a few years later just after Derr became CEO. Derr combined the roughly equal number of employees from Gulf and Chevron and ended up with only 10% more employees than Chevron previously employed -- say a 40% reduction in employment. Based on his past performance, look for big cut-backs and perhaps a bankruptcy for Calpine. Calpine may be sold off in pieces, sold as a unit to another company, or emerge as a much smaller but profitable company. Expect no mercy for current shareholders or employees. .