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Subj: "Must Read" IR`s response to my E-mail By: docraf2000 Date: 08/08/02 09:31 pm I completely understand your frustration with the stock price. You do hold a substantial amount of Calpine stock and you have every right to be concerned when the price drops like this. Simply stated, the stock price will rebound as the economy rebounds. These are very rocky times for business in general, not just the energy sector. But as industrial demand picks up again, demand for electricity will grow and supply will become increasingly insufficient and electricity prices will rise. Remeber, we already have $6.6 billion locked up in long term contracts and we have an impressive array of assets. Here is the contractual portfolio to give you more detail. And here is the project portfolio to show you when the rest of our projects will be coming online. As the year progresses, plants are being completed, reducing the amount we are spending on capital expenditures. As you can see, we are evolving from being a developer of power plants to being an operator of power plants, the most modern, efficient fleet of plants in the country. Regarding the CEO`s stock sales, as part of this pre-planned arrangement, the SEC does not allow Pete or Ann to do any other buy/sell transactions within 6 months of these transactions, so they cannot turn around and buy the stock right now. However, now that our trading window is open for a few weeks, I would expect to see other executive management buying more stock. Please rest assured that our management is absolutely committed to Calpine and working full time to get through these recessionary times. The planned stock sales are no indication of anything but a logistical solution to a normal schedule of events. Our attorneys have advised that the pre-arranged sales cannot by started and stopped due to changes in stock prices. In other news, within the next day or two, our CEO and CFO will be signing the new SEC certification forms. That should help with investor confidence. We are extremely proud of the way our company has conducted business and we are optimistic about the future. As the American ecomony rebounds, we believe that Calpine will be viewed as a sustainable corporation and regarded as the premier leader in the energy industry in North America. Thank you for your email. Regards, Lisa Poelle Investor Relations Calpine 1-800-359-5115 |
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| aus der Diskussion: | Calpine |
| Autor (Datum des Eintrages): | rg70 (09.08.02 09:36:18) |
| Beitrag: | 142 von 251 (ID:7081932) |
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