Financial statement information is of very little use in the valuation of Net stocks. There's no significant positive association between bottom-line net income and market prices. In fact, the association is usually negative.
California's new $10 billion energy bailout plan is being greeted with skepticism by both industry experts and consumer groups. That’s not surprising because the state of California, which has already proven itself to be “the gang that couldn’t deregulate”, has rushed to implement an emergency plan that looks increasingly like a band-aid on a severe gut-shot wound.
The coalition of unions, consumer and women's groups who have been fighting the bankruptcy law are just about out of ammo. Both houses of Congress are expected to pass the measure this week, and President Bush has said he's ready to sign it into law.