california update 9 19 2001 questions comments regarding report please contact g britt whitman ex 5 4014 kristin walsh ex 3 9510 executive summary weekend developments socal mou socal creditors weigh bankruptcy options california senate adjourns without bailout vote previously reported 9 14 prediction sen john burton discouraging support socal bailout fact play burton last minute vote polls indicated four senate democrats favoring mou extraordinary move burton adjourned senate without bothering let ab 67 xx face floor vote following outline prevailing factors led burton decision reportedly addition virtually republican support coalition least 7 far left democrats pro business democrats convinced legislators vote bailout legislation one point treasurer angelides pulled senator bowen aside told revenue bonds might sell direct access accused angelides lied originally telling bond sale would possible direct access included governor davis treasurer angelides appear damaged relationship senate davis stated would sign burton legislation due ineffectiveness additionally would veto burton bill separating revenue streams bond payment payments power given state relations sacramento senators likely offer little cooperation bailout plan davis calls another emergency session see burton response paraphrased going jury duty going exercise right excused also going ask people come back last saturday 9 15 people business democrat republican side least planning bankruptcy looms socal currently looks bleak socal davis bryson expended political capital effort creditors committee reportedly meeting discuss filing take place edison executives assured davis company file bankruptcy creditors show restraint however unclear whether utility creditors forebear involuntary bankruptcy filing spokespersons several large generators said friday 9 14 afternoon speculate companies would legislature failed act edison rescue bill night davis aides say governor would seek reduced rescue package edison legislature returns meantime davis continues informal negotiations legislators effort stave socal bankruptcy