Ferromagnetic systems described by the double-exchange model are investigat
ed. At temperatures close to the Curie temperature, and for a wide range of
doping levels, the system is unstable toward phase separation. The chemica
l potential decreases upon increasing doping, due to the significant depend
ence of the bandwidth on the number of carriers. The reduction of the elect
ronic bandwidth by spin disorder leads to an enormously enhanced thermopowe
r which peaks near T-C, with a sign opposite to that predicted by a rigid-b
and model.