Question-and-Answer Session
Operator
(Operator Instructions) Our first question comes from Paul Fremont - Jeffries & Co.
Paul Fremont - Jeffries & Co.
Thank you. Yesterday, we heard John Rowe indicate that he was hoping to get a response from the other intervener parties in the negotiations over a period that sounded to be one or two weeks. Can you indicate whether the other parties seem willing to negotiate on an expedited time schedule, or have you been able to gauge any type of reaction to the deadline that was put forward by John Rowe?
Tom O’Flynn
Well, clearly, some of these parties are willing to negotiate on these type of terms because we've made significant progress with certain of them. The group that we just don't know currently where they are and probably the most important single group we have to deal with Paul, is the BPU staff. And at this time, we're continuing to have discussions with them. We just don't know at this time, we can't be certain what their willingness to accommodate that kind of a deadline is.
Paul Fremont - Jeffries & Co.
Thank you.
Operator
Our next question comes from Ed Kressler - Angelo Gordon & Co.
Ed Kressler - Angelo Gordon & Co.
Thank you. Just a quick question on the up offering. What period of time expired between when you actually made the up offer to the BPU staff and the decision to go public? The only thing that was disturbing yesterday about Mr. Rowe's comments and about yours today are that, why are we even hearing this? Why isn't this just going on kind of behind the scenes? Are things that bad at the BPU staff?
Tom O’Flynn
I think that in part, first of all, I don't know how long, I guess ten days or something, a week, something like a week, that has been available. It appeared that -- there are many parties to this proceeding and a lot of people got copies of this material. It appeared to us that this stuff was leaking out from somewhere and the information was finding its way selectively into the financial community. We felt that we had to say something about that. We don't like the situation, but if some of this stuff is getting out, we felt that from a fair disclosure consideration, we had to get the information out. So that's why it came out and the timing was driven largely by when it appeared, elements of this were showing up in the financial community.
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