There are no accounting issues, no trading issues, no reserve issues, no previously unknown problem issues.
Every market is in transition.
They can't do without electricity. They can do with less electricity.
You'd rather have a surplus versus a shortage in your position.
The problems in California have been that it's been very difficult to site and build new power plants.
Well, rates would go up whether you deregulate or not, and of course, the rates that are going up right now on the electricity side are still within the regulated framework.
In the case of Enron, we balance our positions all the time.
There are absolutely no problems that had anything to do with Jeff's departure.
I have to take responsibility for anything that happened within its businesses.
Jeff knew full well what he was walking away from. Again, he needed to deal with this right away.
But certainly I didn't know he was doing anything that was criminal.
But I can't take responsibility for criminal conduct of somebody inside the company.
We use competitive markets to arrange for delivery of our food supply.
