Many months ago I wrote that I was in favor of building the MEC. Since then I've realized that my reasons for thinking so did not check out. So, to make a long story short, I've changed my mind. Bottom line, I fail to see any likely value-add to the neighborhood for building the power plant at Metcalf. And there are plenty of potentially degrading factors. Other people here have detailed those risks quite well.

Next, asked myself: Well, if I were Calpine, why would we want to build it there? Easy in; easy out. Easy natural gas access to fuel the plant + easy connections to distribute the power production = low capital investment and a quicker return on invested capital. Voila! That's what we call a lay-up. As an added benefit, when the securities analysts come to headquarters (downtown), it will make a nice "tour" to take them down to Metcalf and have them ooh and ahh over a good-sized, state-of-the-art power production facility.

For another perspective on this, go to www.quicken.com and build a comparative graphic for the past year of CPN (Calpine) versus say, Cisco (CSCO), DELL, or AOL. Stock prices go up in anticipation of good news. Wall Street LOVES what they see in Calpine's future.

Don't get me wrong. I'm not an anti-capitalist nut case. America works because of free enterprise and an entrepreneurial spirit. Silicon Valley, for better or worse, wouldn't exist without it. But free enterprise isn't free. Someone has to pay. In this case, Calpine is getting off easy, and the "bill" to the neighborhood is potentially very steep.

This is nowhere close to a "win-win." Let City Hall know how you feel. Let the Mercury-News know. Let the CEC know. Let Cisco know. Let's get some "energy" out of the school districts, Kaiser, IBM, homeowner's associations. This won't be won by individuals grousing over their lattes at Starbucks. Big bucks are motivating this project and it's going to take large constituencies, perhaps even litigation, to get it turned around.

No field of dreams here!

Jim Cosgrove