Calpine Files for Ch. 11 Protection: Financial News - Yahoo! Finance

There it is, a done deal. Calpine finally throws in the towel and makes the filing for bankruptcy. No surprise to most people who have been paying attention to the company. 22 Billion in debt makes it number 9 in the list of the top 10 bankruptcy in US history. Makes me feel good to know we made the top 10. We beat Adelphia and a couple of airlines but still pale in comparison to World Com and Enron.

I am pretty much numb to the whole thing as my plant blazed the trail by going bankrupt over a year ago. "Come on in the water is fine'. The sad part is that a few friends and coworkers have lost a significant amount of money on the stock. I took my lumps a few years ago. My future and the future of my plant is a separate situation and will probably end up the same regardless of what Calpine's future holds.

Calpine is (was) a people orientated company that took care of it's employees. They spent foolishly when money was easy to come by and they put all of their eggs in one basket (natural gas) and now they must pay the price. I hope that Calpine is successful in the plan to reorganize and that it will continue to focus on the people that have made it a great place to work (other than the fact that they went bankrupt).

Calpine 2001 $58/ share
Calpine 2005 0.15/share

Maybe I should buy in.........?