The industry was in turmoil a couple years ago, involved in marketing and trading energy. About a year ago, that process was finished. Companies just don't sit around and do nothing.

It's the end of Enron, no question about it, ... I don't know who else could step in.

It's the end of Enron, no question about it. I don't know who else could step in.

We wouldn't be surprised if there was interest from some of the large European utilities.

If they can put the hurricane restoration issue behind them, that would be a huge positive for the company.

I think most of the concerns for this industry have been factored into these stocks already as power prices have come down. But as you look longer-term...growth for these companies will be slowing.