Problem: BODY: PW, HPL's spot and base purchases by zone for April 2000 are reported in the attached file. Let me know if you have any questions. D
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A: SUBJECT: April 2000 spot supply

Problem: BODY: FYI - I wanted you to know that, despite all appearances, we are working on finalizing Shari's move to Portland. Shari is looking for a "relocation" package. HR has been tied up in PRC and is now searching for a package that works. HR has promised me a response today and then I can discuss w Mark H and then present to Shari. End of Feb is still the target date. Hope all well (despite the press).
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A: SUBJECT: Shari's relocation

Problem: BODY: Stamos, I don't think many buying opportunities out there. The economy is going to get crushed this year. There's only one place to put one's money now, and that is in cash. The manufacturing sector is in dire straits and you will continue to see an increase in plant shutdowns and company layoffs. The Fed could continue to lower rates but there'll be little capital investment if consumer spending dries up. I feel we've just seen the beginning. I think the Dow will be trading under 8000 by the end of April. Psychologically, the California crisis will add to consumer fear. The crisis is not a short term problem. As a result, barring any Federal bailout, you could kiss that state's economy goodbye. Let me ask you a question; if you were paying (1) the highest real estate prices in the country, and (2) the highest energy prices for the least reliable power, in (3) the midst of a hi-tech meltdown, what would keep you or your company from closing shop and moving to a different state?? If you own any CA real estate, sell. The only way to solve the CA energy crisis is to reduce demand or increase supply. Since CA doesn't want any power plants in its backyard, the supply issue likely won't be solved anytime soon. So, how do impact demand?? You have to price energy(power/gas) so high that the discretionary user (household, manufacturer, commercial store) conserves by closing its plant, cutting back on the thermastat or running the commercial operation during off-peak hours. California will see this reduction in demand over time. If the blackouts subside it's because so many businesses have closed their doors for good or moved to another state. Without this, the blackouts will get much worse. If the state tries to get into the business of buying and selling electricity and gas, I would bet it will go bankrupt within 2-3 yrs. Could you imagine the impact on the national economy from the bankruptcy of the U.S.'s most prosperous state. Obviously this is only my opinion, but I would keep my eyes on the energy markets - that's where the key to the turnaround lies. Take Care and thanks for the email. Kevin
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SUBJECT: Good Buying Opportunity????