Eric Crampton: >The break-up value shouldn't be less than the value of the assets in the country<
Only if the New Institutionlaists are all wet about asset specificity. Me, I think that the value of individual assets is _embedded_ in specific locations, relations, uses, contracts, plans, etc. Michael Michael E. Etchison Texas Wholesale Power Report MLE Consulting www.mleconsulting.com 1423 Jackson Road Kerrville, TX 78028 (830) 895-4005
