Zeev's Turnips Patch-No Politics (ZEEV)

[Bruce A Thompson]

Marcy Shoots Herself In The Foot...Again

NEW YORK, May 16 (Reuters) - Troubled U.S. power company Mirant Corp. (MIR,Trade) said on Friday it was unable meet a Thursday deadline to file its quarterly report with the Securities and Exchange Commission because of delays caused by a recent reaudit.

The Atlanta company said in a notification of late filing that it was "unable to complete the preparation and review of our 1st quarter 2003 Form 10-Q by the required filing date without unreasonable cost and effort."

It did not say when it expects to file the results.

Mirant, which has struggled with $8.6 billion in debt in the midst of an industrywide cash crunch, delayed reporting its 2002 results and filing its annual report until late last month, when it completed a re-audit of its 2000 and 2001 finances.

The company's stock closed at $3.48 Thursday on the New York Stock Exchange.