TEXAS FLIP

 FOR THE RECORD I CSAUGHT UP WITH THESE BASTARDS
TWO  FLIPS  AGO 

thanx to my pal

PHIL "HIGH LOW " SILVER 


 BUT FOR YOUR HOLIDAY ENJOYMENT ...



NYT :

"The buzz in Houston these days 
is over the $4.9 billion in profit
 that four elite private equity firms 
- the Texas Pacific Group, 
the Blackstone Group, 
Kohlberg Kravis Roberts 
and 
Hellman & Friedman -
 stand to make from selling 
an electricity company for $5.8 billion


==================================

  


" THESE low-profile owners 
have managed to accomplish something rare 
in this swaggering city: 
a deal so ambitious in its scale 
that it has caused jaws to drop 
in Houston's energy circles 
while angering and perplexing people
 who are feeling the sting 
of surging electricity prices"



"Lured by deregulation 
of the electricity industry in Texas"

" the investors acquired 
the electricity company Texas Genco
 which owns several power plants 
in the Houston area
 just last year
 with $900 million in cash"

" Now, they are selling it 
to NRG Energy of Princeton, N.J.
 for a gain of $5 billion " 

"This part of the deregulation process
 has transferred billions 
from ratepayers to investors," 
 Clarence L. Johnson, director of regulatory analysis 
at the Office of Public Utility Counsel
 a state agency in Texas




"Electricity prices in Houston
 the largest city in Texas,
 have climbed about 86 percent 
since the deregulation 
of the state's electricity industry in 2002"

" Electricity cooperatives 
that are not part 
of the state's deregulated market 
have increased their rates only 18 percent
 over the same period"



  GREEN CAUSE ????

YUP 

NATURAL GAS BURNS CLEANER 

AND ....

ATTENDEZ VOUS 

"the dark spread.....
the widening difference 
between coal and natural gas prices
 over the last year"

YUP WATCH EM ALL GO GREEN....
ONCE THEY'RE IN POSITION 



 HERE'S
     a spokesman for NRG
 the company that is buying Texas Genco :

 "This puts NRG 
in an even stronger position
 to thrive on this volatile 
natural gas environment"  


money quote :



"The structure that made this possible 
                      is without shame,"



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