Why is the Los Angeles Business Journal giving space to death penalty deceptions and half-truths about the Graham case? (“Executions: More Murder Than Justice?” July 3). I liked the paper very much because I thought it would print only good, honest writers who give clear and thoughtful reasoning. For me, given the information about all the pain and hurt to people Gary Graham has caused, that’s enough reason to support the death sentence for him.
Mitch Albom writes like a lawyer who gives only one side of the story. What did he leave out about Graham and the type of person he was? What about all the other crimes he did, and all the people whose lives he ruined?
Having him put to death finally did some good for the people he harmed in his life, so that gave his life meaning. What Albom did not do is tell how hard it was to decide to put him to death, and how Gov. George W. Bush and all the judges let it happen. The funny thing is, this writer would most likely not want Graham living next door to him.
SCOTT BARTLEY
Pasadena
Power Prices
The article “L.A. Power Broker” in the June 19 issue provided a thorough, comprehensive review of California’s energy situation as we enter the crucial summer months. However, it painted a very inaccurate picture about price transparency at the California Power Exchange (CalPX.)
Last month, the California Public Utilities Commission voted 3-2 to allow California’s three investor-owned utilities to buy their power outside the CalPX. Business Journal reporter Howard Fine implies that the commissioners voting in favor of this did so because the CalPX does not provide real-time pricing information, hindering an electricity provider’s ability to get power to the grid, making it necessary to allow for alternate exchanges to provide the instantaneous price information that we do not.
Real-time pricing means that transactions are reported as they occur. This takes place, and has always taken place, in the CalPX Day-Of, Day-Ahead and Block Forwards markets. The perception that our markets lack price transparency is completely false and has been put forth by those who have been unsuccessful in entering the California marketplace. In fact, in their decision to allow alternate exchanges, CPUC commissioners Bilas and Neeper noted that any qualified exchange eligible to compete in California must publish its prices for each market at least as often as the CalPX does.
The CalPX operates in a manner designed to keep the market both fair and secure. Market activity is completely transparent, and regulators regard the CalPX price as the per se reasonable price.
The California Power Exchange is a success story, and one of the most important factors responsible for California’s orderly transition to a deregulated market. We will continue to be the valued benchmark for price discovery, encouraging healthy competition and providing stable electric rates for California, the West and beyond.
GEORGE SLADOJE
Chief Executive Officer
California Power Exchange
Barron Hilton’s Stock Trades
Regarding your June 19 story on Hilton Hotels Corp. (“Hilton Insider Trading Leads to Merger Buzz”), you mention, accurately, that Barron Hilton recently bought shares in our company. That purchase, indeed, demonstrated his confidence.
However, in the very next paragraph you describe Mr. Hilton’s 1998 sale of 24 million shares of Hilton stock, giving your readers the mistaken impression that he sold personal shares. That is not the case. Those 24 million shares were held in a charitable remainder unitrust of which Mr. Hilton is trustee, and which were sold to diversify the trust’s portfolio.
I want to clarify and emphasize that Mr. Hilton has sold no personal shares in the company.
MARC A. GROSSMAN
Senior Vice President, Corporate Affairs
Hilton Hotels Corp.
