August 16, 2001

Contact: Gino DiCaro 916-498-3347

Manufacturers Release 2nd Energy Casualty Report
State’s future job base appears to be in jeopardy

Sacramento, CA - The California Manufacturers & Technology Association (CMTA) today released the second edition of what unfortunately looks to be its ongoing Energy Casualty Report.

“Straddled with disproportionate rate increases from 50 to 190 percent, this report shows the state’s manufacturers and large businesses reeling after only one month of the new electricity rates. California’s working families have reason to be very concerned about the state’s job base today, in six months, and beyond,” said CMTA President Jack M. Stewart.

The Casualty Report, which details testimonials from California businesses, lists recent employment casualties as a direct result of the recent rate increase - including four plant closures, four hiring freezes, eight production and cite losses and 10 companies implementing layoffs. It also highlights companies that could potentially scale back operations or send jobs out of California if the state fails to relieve this unfair financial burden.

“This is a truly sad situation for the state’s business community and the millions of hard-working men and women whose jobs depend on a vibrant economy and sound economic decisions by their elected leaders,” added Stewart. “Hopefully, it’s not too late for the Legislature and Public Utilities Commission to stop creating policies based on political motivations and start thinking about the families that depend on a paycheck to pay their electricity bills.”

CMTA will continue to update this document bi-weekly and the report can be retrieved at:

/casualty_report

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