Further footnotes on the Democrat and Republican Plan B's.  The key questions 
now are:

1. When will the Democrats announce the Keeley plan?  Will Davis support it?

Best estimate- Davis will support it quietly, but Keeley will take the lead, 
probably announcing an abandonment of the transmission line deal and the new 
plan by the end of the week.

2. How will the generators react to the 70 percent "haircut" proposed by both 
parties?

Best estimate- we will have reports from the generators tomorrow.  An 
argument could be made that the appeal of a quick solution is strong.

3. Will the financial pressure on SoCal force them into b.k. before a deal 
can be put together?

Best estimate- big risk here.  More and more small creditors (QFs, City of 
Long Beach) are going after SoCal assets.  Also, SoCal also warned that if 
the original MOU was altered by the legislature, that they would have to go 
b.k.

We will continue to monitor and update as information comes in.  Until these 
questions are answered, our outlook continues to be for a SoCal b.k. filing.