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Gold/Mining/Energy : EIX: Edison International
EIX 66.51-0.1%2:16 PM EDT

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To: sandiegobear who wrote (4)1/21/2001 4:16:34 PM
From: BirdDog   of 8
 
You're extremely wise to hold off. EIX owns too much through it's company "Mission", and other companies it has formed. All this came from profits taken through SoCalEdison. Basically, I think they were trying to legally steal from their ratepayers. Only problem is, they forgot to cover their rear end. Now they are asking for help when they have no intention of relieving themselves of the vast holdings they now have outside of SoCalEdison. I don't think the Government is/can let them get away with this. They have for years operated a safe company where they can go to the PUC for increased rates to make up for their mistakes. The Government will have to hold them accountable for this incompetent mistake. Or the elected Government officials involved will be committing political suicide. The result in bankruptcy court will be EIX selling off most all that which they took from the ratepayers and gave to Mission, and the other companies they formed to tuck away their ill gotten riches. Examples?...How about that small high rise on the 405 FRWY with "Mission" written at the top...yup, owned by EIX. Or that big generating facility in New Zeland...yup...New Zeland. Or all the generating facilities owned outside of Calif. now. Or the 1/2 interest Mission has in most every major co-gen plant on the west coast. Or Westec Security, Valley Burglar and Alarm, and many other small companies they bought up and tucked away from socaledison. And lets not forget the vast amount of Real Estate in Calif. they own that has nothing to do with "future substations". And we can't forget "Edison Field"....

BirdDog
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