Majority

IntercontinentalExchange, Inc. announced a 42% pre-tax profit of $52.3 million on revenues of $125.5 million for 2002, its second full year of operations.

IntercontinentalExchange, Inc. announced a 42% pre-tax profit of $52.3 million on revenues of $125.5 million for 2002, its second full year of operations.

A solid majority of close to 100 energy leaders meeting behind closed doors in Houston Monday endorsed the proposition that a competing mixture of financial, journalistic and academic institutions and FERC should collect energy price data, while Commission Chairman Pat Wood, acknowledged that current price indexes appear to function well.

Five major energy companies are the majority of the private-sector firms signing a consent decree with California state officials Thursday to clean up a 38-acre toxic waste site in Huntington Beach, CA, that was abandoned nearly 20 years ago and has sat vacant. Gov. Gray Davis announced the agreement, calling it a “significant achievement.”

A vast majority of the cash market apparently decided to take it easy Wednesday and await further developments. Mild softness at a few Northeast points and losses between a nickel and 15 cents in San Juan Basin and the Rockies were the only aberrations in an otherwise basically flat price landscape.

Wall Street analysts told a Senate panel Wednesday that the judgments made by a majority of those covering Enron Corp. to continue recommending the stock as a “buy” through mid-November 2001 were based on publicly available information that ultimately proved to be wrong. And despite supposed conflicts of interests within the analysts’ companies — many of which were lending money to Enron at the same time their analysts were recommending buys — the analysts testified that the “Chinese Wall” maintained by research and investment units prevented their judgment from being swayed.

Wall Street analysts told a Senate panel Wednesday that the judgments made by a majority of those covering Enron Corp. to continue recommending the stock as a “buy” through mid-November 2001 were based on publicly available information that ultimately proved to be wrong. And despite supposed conflicts of interests within the analysts’ companies — many of which were lending money to Enron at the same time their analysts were recommending buys — the analysts testified that the “Chinese Wall” maintained by research and investment units prevented their judgment from being swayed.

Much of the cash market was remarkably consistent in moving lower Friday in trading for the Presidents Day weekend. A majority of points fell within a narrowly defined range of 5-10 cents. A couple of scattered points managed flat showings, while a few others held their declines to less than a nickel.

Senate Majority Leader Tom Daschle (D-SD) said last week that while he would like to take up energy legislation as quickly as the “schedule allows,” it takes a backseat to the other more pressing issues that are facing the Senate.