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I traded this company and made money several years ago, but got out. This headline is the first I have paid attention to since. It was a darling of the Fool, now it looks like you would do better with a methane generator filled with bull crap.


Calpine wants time to make repayments By Ben Berkowitz and Sarah Coffey
30 minutes ago

NEW YORK (Reuters) - Embattled power producer Calpine Corp. (NYSE:CPN - news) has asked a Delaware court to give it at least 90 days to repay millions of dollars it spent to buy fuel for its plants, saying anything less could be "potentially ruinous."
Calpine shares sank, its bonds slid further, and analysts said an adverse ruling could be the trigger that finally sends the company into bankruptcy.

"This could be the catalyst for the (Calpine) board to make a decision at this point," said Daniele Seitz, an analyst at Maxcor Financial. "The market is already having its hunches."

Another analyst pegged the chances of bankruptcy at 50 percent but said the judge in the case had made clear he was not trying to force the company into insolvency.
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