California: Perot Systems defends itself

The Orange County Register ^ | June 22, 2002 | JOHN HOWARD

[Ernest_at_the_Beach]

Company denies it showed others how to 'game' energy market. New memo surfaces in scandal.

SACRAMENTO

[Ernest_at_the_Beach]

Calpowercrisis:

To find all articles tagged or indexed using Calpowercrisis, click below:
	click here >>>	Calpowercrisis	<<< click here
(To view all FR Bump Lists, click here)

[Free the USA]

I thought about racing to post a reply to see if I could beat your ping but then I decided to read first. Thanks

[Ernest_at_the_Beach]

SACRAMENTO – Perot Systems adamantly defended itself Friday against allegations that it showed others how to "game" California's energy market, even as another memo surfaced that outlined Perot's options to help Southern California Edison manipulate the market and complimented two Perot employees for their "devious" minds.

The DEVIOUS minds are mostly in Sacramento accusing others of what in fact they are so guilty of!

[Ernest_at_the_Beach]

What?

I am slow in the mornings!

[NormsRevenge]

U.S. Sen. Barbara Boxer, D-Calif., is reviewing the documents and will decide whether Perot Systems should be required to appear before Congress.

What crap!
DUMP DAVI$ & the Den of Socialists



GO SIMON

[Ernest_at_the_Beach]

Technical question.

Are you seeing anyone else posting articles where the HTML seems to over ride the ability to add topics and add keywords like seems to have happened here?

[Free the USA]

I started reading this article before you attached the ping list, early enough that I thought it might be possible to make the first reply before your ping.

[Ernest_at_the_Beach]

Yes!

Hey thanks for the help in posting all the articles to the California threads.

[Free the USA]

I have seen a few banners and other thing cover the topics or keywords but generally you can find the links and click them even if you can't see or read.

[Ernest_at_the_Beach]

See post #7.

Have you had trouble with articles you have posted ?

[Ernest_at_the_Beach]

Well here all the links below the "News/Current Evensts" are not working!

Help John!

[Rightwing Conspiratr1]

Memos written in May 1997 and released Thursday had showed that executives of Perot or a consultant who worked for Perot met with Edison executives who responded positively to proposals about learning to game the market.

Why socialism doesn't work - 101
Government controlled markets are gameable.

[meyer]

I'd really like it if they described exactly what "gaming the market" was. I mean, if its buying low and selling high, then everyone (almost) who has owned and sold a home has gamed the market. Old saying: a product is worth whatever someone is willing to pay for it.

The California system was ripe for gaming. Had I had the finances, I probably would have bought a few megawatthours and resold them as well. When you artificially cap end prices, make long-term contracts illegal, required utilities to meet demand, prevented new plant construction, and let short-term markets dictate price, you have created massive profit opportunities and little else. You have also imposed extreme restrictions on supply and demand market forces that would have solved the "power crisis" with NO government intervention.

[Ernest_at_the_Beach]

gaming the market

It is whatever they say it is, but they are not ready to define it yet!

It really is an "Alice in Wonderland" scenario.

[NormsRevenge]

Just a bit of a lag when posting sometimes but other then that No.

[Robert357]

"It's very bizarre. At the moment, I'm trying to figure out who gained from this thing," said Assemblyman John Campbell, R-Irvine. "Enron's bankrupt. Edison's (nearly) bankrupt; the state is nearly bankrupt. Dynegy and other companies are going to have to merge because they're not doing well. Everybody paid a lot more money and nobody seemed to make any."

Except the attorneys, the politicians who were given money by generous power marketers, environmental groups, and the employees of the company who were paid handsomely.

[Ernest_at_the_Beach]

I guess a few billion dollars just doesn't go as far as it use too!