Several weeks ago a powerline pole was replaced
just south of the intersection of Watters Street and
Vista Road in Pasadena. During the work at this
location, heavy oil of some kind was spilled on the
sidewalk. Someone threw some dirt over to absorb it, but it
is still there. When it was first spilled I walked
trough it in the dark and got oil on my shoes. Since
then I walk in the street to avoid it and this is
dangerous. I called and reported the problem but nothing has
I visited one of the plants in Penn. a couple of
years ago to look at their boiler leak protection
system as Limestone plant was looking at buying one. The
plant was in pretty good shape. They were putting in a
Desulfurization system like the one at limestone. I was impressed
with the plant. If the other plants are in as good
shape then they were well worth the money. Especially
since it allows us to move into a new area.
I must disagree with your
>>REI is sitting on $3.82 billion in
Simple reading of the Yahoo profile tells you about the
$13/share cash ASSET (there are 290 million shares
outstanding), but they do not tell you about the EQUALLY LARGE
LIABILITY for debt payment. But it exists, so it is a
misunderstanding to say REI is "sitting on" any significant amount
Look at the current ratio which is
0.74. That means for each dollar of current
liabilities, REI has $0.74 of current assets. That pretty much
proves there is not a lot of cash available.
might find this unexpected if you are used to thinking
about tech stocks, or other types which sometimes DO
have lots of cash to play with. But the utility
industry manages its cash very closely, which means
keeping no more of it around than is necessary to
Sadly there is no nest egg
which could be used to buy Nipsco. This is a fairly
mature industry and all the easy moves have been taken
already. REI management truly has its hands full deciding
how to use its finite resources to increase
Gee, I sound like I am defending REI management. I
gotta get some rest <g>.
Hope this helps.
P.S. "Avogadro" -- Thanks very much
for posting that detailed info about the recently
purchased plants. I did not know any of that, so please
keep posting if you have anything!
REI is sitting on $3.82 billion in cash. They
just purschase 50% coal generators that are used.
Management is talking about increasing their earnings .02 or
.03 cents this year.At 6% their earning would be per
share before taxes .77 cents. Hello!! They could have
purchased Nipsco flat out and had money left over. I think
Nipsco would have bought the deal. They want to get into
Mid-Atlantic market. Right!! They just wanted to spent the
money it is a old oil field attitude. Drill one well it
comes in and instead of paying off the creditor and
investors they drill another well with the profits which
are not theirs.
anything about expecting a surprise?? I think I
said the only thing that will help us move up is a
positive surprise from the communication
Unfortunately, I haven't seen anything up to this point to make
me believe that the group is doing much of
What kind of surprise are you expecting.
newly formed (CLEC) group "RECI" will not
untold fortunes to the company. (Personally I hope that
I am wrong).
You are expecting this group to
perform miracles in a realm of competition with little or
6 - (CLEC) Companies. (Birch,
Caprock, Aldephia, Frontire, Winstar & Century.)
(PHONE) Companies. (AT&T,MCI,SPRINT, & SWB)
(CABLE) Companies. (Warner & TCI)
The local market is
saturated with companies that have networks in place and
are experinced in doing local & toll
There is only so many ways you can slice/dice and sale
dialtone. Please don't expect any
to be positive and have mentioned immediate
improvement in earnings. Even this bit of good news couldn't
help move us up.
We will have to be very patient
with REI or wait for a surpise from the communications
internal rumor is circulating that in a tragic
accident, one of the BOD sat on and broke the "wheel of
fortune" that management has been using to make decisions
on the future direction of this Company.
Vivendi sells U.S. power units for $2.1
PARIS, Feb 20 (Reuters) - French conglomerate Vivendi
said Sunday that its subsidiary Sithe Energies had
sold 40 independent power-producing units to Reliant
in the United States for $2.1 billion.
Vivendi statement said the power plants had been
purchased in November from GPU (NYSE:GPU - news) and that
the present sale had yielded $450 million in capital
Vivendi said the sale would allow it to immediately
reduce a large part of its debt. The company said it
planned to cut its debt by selling off its
Among the plants sold were 17
units in Pennsylvania, four in New Jersey and one in
Maryland, Vivendi said.
Would it be any different, if REI had to own and
operate each new purchase for 5-10 years
Is it really true that Vivendi bought this group of
plants from GPU in November, then in February turns
around and sells for a $450 million capital gain? As
reported, it would appear there are huge improvements
possible by simply cutting out the
Perhaps the statement on Vivendi's power plant trade is
not the full story. Can anyone help?