Zeev's Turnips Patch-No Politics (ZEEV)

[Zeev Hed]

The whole group is weak, and I believe there are two main concerns, these companies need to roll over short term debt, and it is possible that that may not be possible (many high debt companies are hit hard like TYC and of curse the like of ILA, WMB, DYN, MIR etc), downgrading of the debt of sme of these companies influence all of them, and if they cannot roll over short tem debt they'll be in big trouble. The second thing is possibly the fact that many may have over built (I tried to read MIR financials they have some 22,000 Megawatt on line but another 6000 Megawatt under construction or committed to), and thus the returns on existing facilities may drop if what they sell becomes cheaper than what they plan they can sell for, causing write down of assets (an effect at the roots of WCOM demise). At this time, there is no enough transparency (without extensive study of each situation) to determine who will be a survivor and who not. All, IMTO, of course.

Zeev