Every utility meeting you go to now, they talk about who is going to be taken over. ... I think once the ball has started rolling, it will pick up a lot of snow. |
If you get to a certain point, there's no pulling out of it. |
It became like a religion. |
That's not a level for the faint of heart. |
The death watch continues, with very little hope that it can end in other than a Chapter 11 (bankruptcy) filing. |
The probability of a bankruptcy became more likely after the court ruling in Delaware last week. |
This is going to be a messy bankruptcy, and it is going to take a long time to sort through. We believe that will be a minimum of two years, and given the complexity of this bankruptcy, could very well be longer. |
We're the last industry in the United States to rationalize. It really hurt the United States because we don't have a national grid system where we can transport power easily from many places to other places. |