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
Answer: Good Buying Opportunity????
The only problem I can see with this is that paragraph 4 could be construed to encourage NMNG to request amendment not only to increase the MAXDTQ but also to decrease it (if the MAXDTQ has been increased by a previous amendment). I worry that this might mislead NMNG that the parties can decrease the MAXDTQ by agreement rather than NMNG using capacity release procedures. However, the paragraph does not obligate TW to do anything & doesn't give NMNG any rights, since any change in the MAXDTQ must be by mutual agreement (and it's subject to available capacity). Since it does not seem to give either party anything they do not already get under the tariff, I think I would recommend we omit it. However, NMNG might insist on this or similar language to reflect the "deal" --- or at least the conversations of
Answer: Transwestern Contract Approval Request
RBoyle@nyiso.com writes to the NYISO_TECH_EXCHANGE Discussion List: The rescheduling of the October Reconfiguration Auction of TCCs due to the events of September 11th has produced some unanticipated consequences. The NYISO will not be able to post the results of Round 3 of the Initial Autumn 2001 TCC Auction as scheduled. The results of Round 3 will be posted by noon on Monday, September 24, 2001. The Bidding Period for Round 4 of the auction will commence on Tuesday, September 25, 2001 at 8:00 AM and continue to 9:00 PM Eastern Standard Time. The Bidding Period has been extended to provide auction participants additional time to assess their Bidding strategy. The remainder of the schedule for the Initial Autumn 2001 TCC Auction is unchanged.
Answer: Announcement - Initial Autumn 2001 TCC Auction Round #3
I am still waiting for my Brazilian visa (another single entry, unfortunately). It should arrive next week. I was hoping to spend the week of Sept. 5-11 in Sao Paolo but that is impossible to plan without the visa. Maybe the latter part of that week or the next week will work. If I arrive on a Sat. or Sun., what do you think about the two of us meeting over the weekend to work out a plan? I can then devote all of my time to dealing with Tozzini on the physical and financial issues and working with originators to explain financial trading procedures. I will need to determine if Jose Emilio (on the physical issues) and Antonio Felix and Renato (on the financial issues) will be available to meet during my trip. I have sent them e-mails to at least pose the question. I know that you are very busy. Please let me know what you think about my proposal. Also, I apologize for asking you to give up any of your weekend time. Maybe you have another suggestion that will work better for you. I look forward to hearing from you. Sara
Answer:
trip to Sao Paulo