Posted on 09/11/2002 9:45:50 AM PDT by Ernest_at_the_Beach
Edited on 04/13/2004 2:40:57 AM PDT by Jim Robinson. [history]
The struggling energy firm Calpine updated investors on its strategy for returning to health Tuesday, and detailed its continuing plans to sell an array of assets for $260 million.
The company's shares, already battered during the past year, suffered their fourth consecutive day of big losses Tuesday on fears that the San Jose firm's future is dimming.
(Excerpt) Read more at sfgate.com ...
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Sucking up to him sure paid off, didn't it?
Obviously, they are going to be one of the "victims" of the power crisis as well.
Present, but unaccounted for, Sir!!! (grin)
Despite all the gloating over this company's growing gloomy scenario due to their once "sucking up" to the GRAY MONEY GRUBBER, to me, it's not good news for the economic future of this State to start dancing on their grave!
It seems to me that this is another opportunity for a STRONG SIMONIZING of the GRAY MONEY GRUBBER!!! And here's why:
With the "Evil Axis" of EnvironMental/Labor/Litigators blocking all new generation, companies like Calpine in particular with their specialty being gas-powered "peaker plants" are about the only thing left to solve the return of the next CA energy crisis. Without turbines turned by nuke, water, or anything else that's "dirty," clean burning natural gas was about our only hope LEFT!!!
Even though I join all of your scorn for trying to capitalize on the political fortunes of the GRAY MONEY GRUBBING GOVERNOR with his huge "war chest," it sure seemed like a shrewed move at the time. Try to imagine what would have happened if Enron, et al hadn't blown up in EVERYONE'S face!!! Calpine could have been in the "Catbird Seat!"
Guilt by association is a very real thing as I always taught my sons. There are a lot of kids in CA State penitentaries today that hung around with the wrong kids and got caught up in the "Joy-Riding" bust!
Just like with Enron, Dynergy, Williams, et al, some good conservative folks are gonna be out of a job and CA is again gonna be outa juice when it needs it most! Standby!!!
Thanks for your excellent comments on the thread!
Wull, dats probly cuz yew din't git any pings frum peephole hew dinged up the hole sistum with sooper-wide replies dat thro everthing off kilther, don'tcha know gud buddy?
The more user friendly software seems to have attracted some html challenged posters.
We have Sticker Artwork and film.
I plan to pick them up on Saturday.
I will have 1200 sets of 11" X 17" stickers, or 200 of each of the following:
1. Need a Job?
Dump Davis!
2. Stuck in Traffic?
Dump Davis!
3. Lousy Schools?
Dump Davis!
4. Taxes High?
Dump Davis!
5. Power Out?
Dump Davis!
6. Sick of Crooks?
Dump Davis!
Please FReepmail me your requirements for each type, along with a mailing address. Remember, that they are intended for large trucks (preferably dump trucks) that are on the road at all times or on prominent locations targeted to the politics in that area (such as a dumpster across from the exit driveway of a school heheheh). We need maximum exposure.
If we run out, we'll print more.
In 1972, I silk-screened about 100 bumper stickers which read "Pull the Dick out in '72" (blue letters on white background). I slapped one on the bumper of my Datsun pickup, and people would flag me down at intersections to ask where I got it. I would hand them one.
But now I realize that what I did was nothing. You have gone W-a-a-a-a-a-y-y-y-y beyond my humble enterprise, and set the standard for guerilla politics.
Maviglio Bought Calpine Stock! [CALPOWERGATE], posted on 07/31/2001
LOS ANGELES (Dow Jones)--A spokesman for Gov. Gray Davis purchased shares of Calpine Corp on June 20, 2001, he said Monday, but declined to say how many shares he purchased.This is the first time an official in Davis' office has admitted to purchasing shares in energy companies since the state took on the job of buying power in January in lieu of the utilities.
As reported, the U.S. Securities and Exchange Commission has been investigating Davis administration officials for more than a month to see if they purchased stock in energy companies using information that was unavailable to the public.
Was there any follow-up on this?
You are most kind.
Let's get some pingsters over here and get them to flag it:
Ladies and gentlemen,
We have targeted Dump Davis! sticker artwork and film.
I plan to have 1200 sets of 11" X 17" stickers by Saturday, or 200 of each of the following:
This one is intended for rural areas and inner cities.
1. Need a Job?
Dump Davis!
How about LA, Silicon Valley, Marin, etc. Think of it, 20 car lengths ahead at six miles-an-hour on the 405...
2. Stuck in Traffic?
Dump Davis!
Soccer moms... on a dumpster across from the exit driveway of a school... (heheheh)
3. Lousy Schools?
Dump Davis!
Wherever they handle their paychecks. On a garbage can outside a bank? LOL!
4. Taxes High?
Dump Davis!
Near a factory threatened with shut-down over power costs. Grrrrrr!
5. Power Out?
Dump Davis!
This one is universal.
6. Sick of Crooks?
Dump Davis!
The stickers were designed for large trucks on the road at all times, effectively moving signs (preferably dump trucks :-),
OR on prominent locations targeted to the politics in that area.
Contact your local friends in business. We need maximum exposure.
Please FReepmail me your requirements for each type, along with a mailing address.
If we run out, we'll print more.
Simon for Governor!
| Construction begins on S.J. power plant (CalPine) |
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| Posted by NormsRevenge On Jun 22 8:14 PM with 6 comments Mercury News ^ | 6/22/02 | Frank Sweeney After three years of fiery debates, rolling electrical blackouts and shifting political positions, Calpine Corp. is beginning construction of a controversial 600-megawatt power plant in San Jose's Coyote Valley.So far, the 14-acre site on the west side of Monterey Highway just north of the community of Coyote has been cleared of derelict vehicles, dilapidated sheds and other junk and scraped bare of vegetation. The real work has yet to begin.On Friday, government and company officials, politicians and other dignitaries gathered under a big, white tent for 90 minutes of speeches and the traditional groundbreaking ceremony for the $500 million Metcalf... |
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| California: Coalition sues to halt Calpine plant - The Fourmile Hill a spiritual site |
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| Posted by Ernest_at_the_Beach On Jun 19 4:04 AM with 14 comments The Contra Costa Times ^ | Tuesday, Jun 18, 2002 | JENNIFER COLEMAN The Associated Press The Fourmile Hill project would desecrate a spiritual site important to several tribes. .. SACRAMENTO - A coalition of environmentalists and Indian tribes sued several federal government agencies Monday in an attempt to stop San Jose's Calpine Corp. from building a 49-megawatt geothermal power plant in a remote corner of Northern California.The Fourmile Hill project would desecrate a spiritual site important to several tribes, according to the lawsuit filed by the Pit River Nation, one of the tribes suing to overturn the Bureau of Land Management's approval of the power plant.The lawsuit filed Monday in U.S. District Court in... |
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| California: Fazio finds there's a life out of office (Calpine Lobbyists) |
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| Posted by Ernest_at_the_Beach On Jun 10 5:58 AM with 1 comment The Sacramento Bee ^ | Sunday, June 9, 2002 | David Whitney -- Bee Washington Bureau WASHINGTON -- Last week, when the Glenn-Colusa Irrigation District was dedicating its new fish screen on the Sacramento River at Hamilton City, an old friend showed up for the festivities.The friend was Vic Fazio, the former 3rd District congressman and Democratic powerhouse who retired in 1998 after 10 terms. Now a Washington lobbyist, Fazio was invited to the ceremony so the irrigation district could thank him for making the $80 million project happen.O.L. "Van" Tenney, the district's general manager, credited Fazio with "brokering peace" between federal fisheries agencies and local farmers, who were deeply divided over the idea of... |
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| California pushing to rework power deals :Calpine reportedly near new terms |
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| Posted by Ernest_at_the_Beach On Apr 6 10:47 PM with 7 comments The Oakland Tribune ^ | Saturday, April 06, 2002 - 3:13:39 AM MST | Jennifer Coleman The Associated Press SACRAMENTO -- Through complaints to the federal government and a mobilized cadre of lawyers, the state of California is trying to shed some of the long-term power contracts tying it to much higher than market rates. When he made the deals last year, Gov. Gray Davis called them a force to stabilize the state's volatile energy market. Later, however, the state began trying a variety of tactics to poke holes in those contracts and get a better deal. But that is happening in a tenuous utility environment in which many companies are wallowing in Enron-related accounting problems and trying... |
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| Calpine suffering as building costs rise: San Jose company's stock falls after rating downgraded |
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| Posted by Ernest_at_the_Beach On Mar 28 5:23 AM with 7 comments The San Francisco Chronicle ^ | Wednesday, March 27, 2002 | Carolyn Said, Chronicle Staff Writer Mounting debt for construction of power plants continues to wallop Calpine Corp. The San Jose power company's stock -- already down 73 percent for the year - - tumbled 9 percent yesterday after Standard & Poor's downgraded its credit rating, which was already in junk territory. But Calpine and some analysts asserted that the San Jose company will not feel an immediate impact. Calpine said that the downgrade will not set off any defaults in its existing loans and that it hopes to strengthen its credit rating through such options as joint ventures, outsourcing power sales and repaying debt.... |
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| Calpine Seeks Partner for Energy-Trading Venture (Update1) |
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| Posted by Ernest_at_the_Beach On Feb 15 7:55 AM with 8 comments Bloomberg News ^ | 02/14 14:51 | Jim Polson 02/14 14:51Calpine Seeks Partner for Energy-Trading Venture (Update1)By Jim Polson New York, Feb. 14 (Bloomberg) -- Calpine Corp. is seeking a partner with investment-grade credit to back energy trades after the U.S. electricity producer had its debt rating cut to junk and its shares plunged more than 80 percent. Calpine is negotiating with three companies to combine its trading arm, Calpine Energy Services, with a single partner, Chief Executive Officer Peter Cartwright said at an industry conference in New York. He declined to name the companies. Calpine currently has to post $400 million to $600 million for natural-gas trades ... |
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| Calpine CEO Cut Power Plans, Investors Not Reassured (Impact on California ) |
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| Posted by Ernest_at_the_Beach On Feb 1 5:15 AM with 21 comments Bloomberg News ^ | 01/31 13:45 | Daniel Taub 01/31 13:45Calpine CEO Cut Power Plans, Investors Not Reassured (Update3)By Daniel Taub San Jose, California, Jan. 31 (Bloomberg) -- Calpine Corp. Chief Executive Officer Peter Cartwright has been unable to reassure investors about the power-plant builder's prospects after Enron Corp. collapsed and electricity prices declined. Calpine stock is down 72 percent from a year ago, outpacing declines by rivals Mirant Corp. and Dynegy Inc. as investors soured on companies that buy and sell power. Enron, once the largest energy trader, filed the largest bankruptcy ever Dec. 2, and U.S. electricity demand has slowed with the economy. Cartwright, who told ... |
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| Calpine Puts Projects on Hold, Says Profit Will Fall |
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| Posted by Ernest_at_the_Beach On Jan 17 0:45 AM with 6 comments Bloomberg News ^ | 01/16 10:42 | Jim Polson Calpine Puts Projects on Hold, Says Profit Will Fall (Update5)By Jim Polson San Jose, California, Jan. 16 (Bloomberg) -- Calpine Corp., one of the biggest U.S. power-plant developers, said it will postpone $2 billion of projects because the weak economy hurt energy demand and will lead to a drop in earnings this year. Profit excluding certain expenses was about $1.95 a share last year and will be about $1.70 this year, Calpine said in a statement. The company was expected to earn $2 last year and $2.20 this year, the average estimates of analysts polled by Thomson Financial/First Call. ... |
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| After Enron's Failure, Should Calpine Investors Worry? |
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| Posted by Ernest_at_the_Beach On Dec 10 2001 9:58 PM with 25 comments The New York Times ^ | December 9, 2001 | GRETCHEN MORGENSON December 9, 2001 After Enron's Failure, Should Calpine Investors Worry? By GRETCHEN MORGENSON The Associated PressGov. Gray Davis of California, left, and Peter Cartwright, Calpine's chief executive, at a new power plant in Yuba City last summer. Calpine is a Wall Street favorite, but it shows some similarities to Enron. Get Stock QuotesLook Up Symbols Portfolio | Company ResearchU.S. Markets | Int. MarketsMutual Funds | Bank RatesCommodities & Currencies The New York Times s the Enron Corporation (news/quote) collapsed, filing for bankruptcy protection exactly one week ago, companies that had done business with the fallen giant or that had emulated its ... |
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| Calpine asks state to relax standards: CONCESSIONS SOUGHT ON NOISE, VAPOR RULES for California Plant |
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| Posted by Ernest_at_the_Beach On Sep 2 2001 11:47 PM with 5 comments The San Jose Mercury News ^ | Sept. 2, 2001 | MIKE ZAPLER Calpine asks state to relax standards Published Sunday, Sept. 2, 2001, in the San Jose Mercury News BY MIKE ZAPLER Mercury News As the power plant that plunged San Jose into a yearlong controversy moves toward final approval from regulators, Calpine is trying to ease noise and aesthetic standards for the Coyote Valley project. And the state agency that had proposed tougher rules now appears ready to grant the company's wishes. Ending months of deliberations, the California Energy Commission is expected to give final approval to the Metcalf Energy Center on Sept. 12 in Sacramento. The decision will cap ... |
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| Power plant's benefits touted : Calpine, port sign letter of intent |
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| Posted by Ernest_at_the_Beach On Aug 31 2001 10:38 PM with 1 comment Stockton Record ^ | August 31, 2001 | Reed Fujii Originally Published Friday, August 31, 2001 Power plant's benefits touted Calpine, port sign letter of intent By Reed Fujii Record Staff Writer San Joaquin County political and business leaders sang high praises Thursday for the potential benefits of an 1,100-megawatt electricity plant, proposed at the Port of Stockton. Conspicuous by their absence, however, were any members of the county Board of Supervisors. Two supervisors had voiced opposition to the project in advance of Thursday's news conference. During that event, port officials said they had signed a letter of intent with Calpine Corp., a San Jose-based company with ambitious plans ... |
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| Calpine Benefiting From California Energy Crisis, Official Says |
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| Posted by Ernest_at_the_Beach On Aug 29 2001 3:32 AM with 2 comments Bloomberg Newswire ^ | Aug. 28 | Daniel Taub Calpine Benefiting From California Energy Crisis, Official SaysBy Daniel Taub San Jose, California, Aug. 28 (Bloomberg) -- Calpine Corp., a California power producer, has benefited from the state's energy crisis by locking in ``very favorable margins'' on long-term electricity sales, Senior Vice President James Macias said. About 90 percent of the electricity Calpine is generating this year is being sold under long-term agreements to the state, Macias said on a conference call with analysts. A year ago, about 30 percent of Calpine's power was under contract, he said. Calpine, one of the largest U.S. power-plant builders, has been buying ... |
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| Davis advisers' Calpine links hit, Governor, generator deny special deal |
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| Posted by randita On Aug 1 2001 5:13 PM with 3 comments SJ Mercury-News ^ | 7/31/01 | JOHN WOOLFOLK AND NOAM LEVEY Posted at 11:42 p.m. PDT Tuesday, July 31, 2001 Davis advisers' Calpine links hit Governor, generator deny special deal BY JOHN WOOLFOLK AND NOAM LEVEY Mercury News With Gray Davis' foes heaping criticism on state officials who invested in Calpine, the San Jose company became the focus of questions Tuesday about its warm relationship with the administration during the energy crisis. For months, the governor has singled out Calpine for praise, making a trip to a Calpine-sponsored festival in San Jose, endorsing the company's controversial San Jose project and traveling around the state to turn on new Calpine plants. Perhaps ... |
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| Maviglio Bought Calpine Stock! [CALPOWERGATE] |
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| Posted by snopercod On Jul 31 2001 2:23 PM with 56 comments Dow Jones Newswires ^ | July 30, 2001 | Jessica Berthold and Jason Leopold Calif Gov Spokesman Says He Bought Calpine Stock In June LOS ANGELES (Dow Jones)--A spokesman for Gov. Gray Davis purchased shares of Calpine Corp on June 20, 2001, he said Monday, but declined to say how many shares he purchased. This is the first time an official in Davis' office has admitted to purchasing shares in energy companies since the state took on the job of buying power in January in lieu of the utilities. As reported, the U.S. Securities and Exchange Commission has been investigating Davis administration officials for more than a month to see if they purchased stock ... |
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| Calpine big winner in power deals |
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| Posted by randita On Jul 28 2001 3:10 AM with 3 comments CC Times ^ | 7/27/01 | Rick Jurgens Published Friday, July 27, 2001 Calpine big winner in power deals * 'Forward selling' of electricity contracts locks in high prices as insurance against an energy slump By Rick Jurgens CONTRA COSTA TIMES In business, as in sports, there are winners and losers. On Thursday, Calpine Corp. of San Jose proclaimed itself a big winner with the long-term electricity contracts it signed earlier this year. Calpine's assertions could provide ammunition to critics who claim California paid too much for the long-term deals state officials sought in order to ease the supply crunch that drove spot-market prices skyward in late 2000 ... |
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| Calpine says deal with state close on alleged overcharges |
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| Posted by randita On Jul 11 2001 4:33 PM with 1 comment Sacramento Bee ^ | 7/10/01 | AP Calpine says deal with state close on alleged overcharges Updated: July 10, 2001 - 4:36 p.m. Calpine Corp. said Tuesday it is near agreement with California officials over money the state says the company overcharged for electricity. That would make it the first company to settle a part of the $8.9 billion the state wants in negotiations before the Federal Energy Regulatory Commission. However, San Jose-based Calpine has offered far less than the $236 million the state claims it is owed. "We obviously disagree with that number, because we disagree with some of the assumptions" used for the estimate, ... |
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| PG&E will pay Calpine $265 million |
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| Posted by randita On Jul 7 2001 1:20 AM with 3 comments CC Times ^ | 7/6/01 | Times Staff Posted at 1:42 p.m. PDT Friday, July 6, 2001 PG&E will pay Calpine $265 million TIMES STAFF SAN FRANCISCO -- Bankrupt Pacific Gas & Electric Co. has agreed to pay Calpine Corp. $265 million in outstanding electricity bills under a five-year pact with the San Jose-based power generator. PG&E and Calpine signed an agreement today ensuring the utility a steady supply of power at an average price of 5.37 cents per kilowatt-hour. The deal is expected to be ratified in court next week. Under the agreement, PG&E will renew its 13 contracts with Calpine's alternative-energy plants, known as qualifying ... |
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| new Power Plant Proposed for Riverside County (Calpine) |
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| Posted by randita On Jun 9 2001 5:30 PM with 4 comments LA Times ^ | 6/9/01 | Mitchell Landsberg Saturday, June 9, 2001 New Power Plant Proposed for Riverside County By MITCHELL LANDSBERG, Times Staff Writer Calpine Corp., on a breakneck pace to boost tthe amount of electricity it produces in California, announced plans Friday to build a major power plant in western Riverside County near the terminus of a hotly contested transmission line. The plant, the 10th the company has proposed constructing in California, would be in the unincorporated Romoland area between Hemet and Perris, and would supply enough power for about 450,000 homes. "As a California-based company, we are extremely pleased to, yet again, move forward ... |
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| Turning on a dime -- well, $50 million (concerns subsidies to Calpine) |
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| Posted by randita On Jun 8 2001 4:48 AM with 18 comments SJ Mercury News ^ | 6/7/01 | Editorial Staff Published Thursday, June 7, 2001, in the San Jose Mercury News EDITORIAL The opinion of the Mercury News Turning on a dime -- well, $50 million First mayor was staunchly opposed; now he and council approve Calpine subsidies that seem unnecessary in these times WHERE Calpine's future South San Jose power plant is concerned, Mayor Ron Gonzales is like a toy car that has two gears -- full speed forward and full speed backward. It's odd that nothing in between marks the mayor's reversal from outright opposition to what even some members of the city council see as giving away ... |
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| Calpine Executive Sees California Power Crisis Easing (Update1) |
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| Posted by Ernest_at_the_Beach On Jun 6 2001 10:43 PM with 23 comments bloomberg news ^ | 6/6/01 | By Mark Johnson Calpine Executive Sees California Power Crisis Easing (Update1)By Mark Johnson New York, June 6 (Bloomberg) -- Calpine Corp., a U.S. electricity generator and power-plant developer, said there will be fewer blackouts and lower electricity prices in California than predicted this summer because new power plants are coming on line. ``We're going to be surprised to see the results of the market starting to correct itself,'' Calpine Executive Director James Macias said at a briefing in New York. ``I'm optimistic things are improving.'' Calpine's 540-megawatt South Point Energy Center in Mohave County, Arizona, opened last week. Two new plants in California ... |
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