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This baby's ready to skyrocket through it's 200-ma/50-ma crossing!
Calpine Strengthens Commercial Operations Senior Management Monday July 31, 2:56 pm ET
SAN JOSE, Calif., July 31 /PRNewswire-FirstCall/ -- As part of its program to enhance its Commercial Operations organization, Calpine Corporation (OTC Pink Sheets: CPNLQ - News) today announced two new members of its senior management team. The company has named James D. Brown Senior Vice President-Commodity Structuring & Valuation and Jeffrey Kinneman Senior Vice President-Structured Finance, Strategy & Restructuring. Mr. Kinneman joins the company from Texas Genco, which recently was acquired by NRG Energy. At Texas Genco he was acting Chief Risk Officer and Director of Credit and Risk Management. Mr. Brown returns to Calpine, having previously served as Vice President-Structuring.
ADVERTISEMENT "Commercial Operations remains a key driver to maximizing value from our power generation assets and positioning Calpine for profitable growth," stated Thomas May, Calpine's Executive Vice President-Commercial Operations. "With the addition of Jeff and Jim, we've taken further steps in assembling an experienced leadership team to return maximum value for our key stakeholders by providing customers with customized products and services -- backed by our 26,000-megawatt power plant fleet and disciplined commodity risk management capability."
"Calpine has the right people and assets in place to position the company for future growth," stated Mr. Kinneman. "This is a great time to join Calpine. The company has tremendous opportunities to optimize its power assets and provide new products and services to the changing power industry, especially as non-traditional participants continue to enter the marketplace. I'm excited to be part of a great team and an innovative company."
Mr. Kinneman, age 44, is leading the Commercial Operations group's efforts in supporting Calpine's overall business planning and restructuring, emphasizing enhancements to gross margins and analysis of power markets. Under his leadership, the group will also focus on collateral enhancing structured transactions. Mr. Kinneman brings to Calpine more than 17 years of experience in the energy business, specializing in risk management, credit structuring and new business development, and has served in senior management positions for leading banking and securities firms. Following the acquisition of Texas Genco by NRG Energy, he also focused on collateral-enhancing structured products for NRG Energy. He was Partner for Quint Capital, LP and served as Vice President-Credit for Enron Corp. Mr. Kinneman holds a Bachelor of Arts degree in Economics from Rutgers University and is a Chartered Financial Analyst.
"I'm excited about returning to Calpine and joining the company's new Commercial Operations group," stated Mr. Brown. "Tom May and his team bring a renewed focus on creating value for customers and optimizing Calpine's assets. This is an exciting opportunity to rejoin a team of great people and work with new leadership in creating a new Calpine and positioning our company for future growth."
Mr. Brown, age 40, is responsible for Calpine's Structuring, Portfolio Economics and Fundamentals groups, providing pricing, valuation and analytical support for all commodity-based transactions. Mr. Brown has served in the power industry since 1994, and has in-depth experience in commodity pricing, hedging, risk management and forecasting. He originally joined Calpine in June 1997 and previously headed up Risk Management and Analytics for Seattle-based Washington Natural Gas. Mr. Brown holds a Master of Economics degree from McGill University in Montreal, and a Bachelor of Arts degree in Marketing and Economics from University of Calgary.
Calpine's Commercial Operations also is responsible for the company's power and gas trading, marketing and sales, and merchant services, ensuring Calpine fuels its plants and delivers clean, reliable power to its customers. As an energy management services provider, the Commercial Operations group also assists customers with trading and physical liquidation of power and gas assets, operational services, including scheduling and settlements, and a variety of other customized energy management solutions.
Calpine Corporation is helping meet the needs of an economy that demands more and cleaner sources of electricity. Founded in 1984, Calpine is a major North American power company, capable of delivering more than 26,000 megawatts of clean, reliable and fuel-efficient electricity to customers and communities in 20 U.S. states and three Canadian provinces. The company owns, leases and operates fuel-efficient natural gas-fired and renewable geothermal power plants. Please visit www.calpine.com for more information.
-------------------- Paranoia, fear and greed is good. Posts: 137 | From: Private | Registered: Jul 2006
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It's lower now but I'm looking for CPNLQ to do the same thing.
I actually worked as a temp doing legal work for them and had first hand looks at all their assets. They have pipeline and powerplants all over the place.
And plus California had a major heatwave last week. It's going to pick up here this week.
-------------------- Paranoia, fear and greed is good. Posts: 137 | From: Private | Registered: Jul 2006
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posted
Once they come out of BK they will be listed on the NYSE again. But then they will readjust shares so you need to make sure you sell your OTC shares before the BK is finalized otherwise your shares will become worthless.
-------------------- Paranoia, fear and greed is good. Posts: 137 | From: Private | Registered: Jul 2006
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posted
Btw, they're bashing me because I short some stocks over on the FHAL thread but FYI: I was short Calpine when it crashed into the dust back in November/December.
I am long now!
-------------------- Paranoia, fear and greed is good. Posts: 137 | From: Private | Registered: Jul 2006
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quote:Originally posted by Absolut_Swing: Btw, they're bashing me because I short some stocks over on the FHAL thread but FYI: I was short Calpine when it crashed into the dust back in November/December.
I am long now!
Nice line...but...you can't short OTC.BB stocks
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It's all in the timing... Posts: 4303 | From: DSA | Registered: Dec 2003
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