Seabron - 

Here is an outline of the work product we would like you to consider --

1. How much did the LACK OF POLITICAL LEADERSHIP / LUNACY cost California 
consumers?
 + LUNACY = CPUC did not accept $60/Mwh last year 
 + unwillingness to fix credit problems
 + Bad CDWR buying habits
 + other

2. Analyze key Cal ISO studies dealing with "overearning" and market abuse.
 + Methodological faults
 + Analyze Key Findings
 + Develop appropriate "Enron" responses

3. Develop framework to assist in responding to political "calls" for market 
controls
 + Understand better who "won" from the WEALTH TRANSFER
 + How much was transferred to "Texas generators"?

4. Other fixes still needed
 + A/S markets in California
 + Governance issues
 + other?

I hope this helps frame the work.

Jim