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CenterPoint Energy, Inc. Message Board

  • vistaii vistaii Feb 20, 2000 7:31 AM Flag

    Oil on Sidewalk

    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
    been done.

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    • 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
      of cash.

      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
      continue operations.

      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.
      -- C44

      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
      no experience.
      6 - (CLEC) Companies. (Birch,
      Caprock, Aldephia, Frontire, Winstar & Century.)
      4 -
      (PHONE) Companies. (AT&T,MCI,SPRINT, & SWB)
      2 -
      (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

    • Good time to buy more....bf2m2

    • 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.

    • Vistaii, I forwarded your comment to someone at REI who might actually be in a position to address it. Hope the mess gets cleaned up soon.

    • 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
      power-generating businesses.

      Among the plants sold were 17
      units in Pennsylvania, four in New Jersey and one in
      Maryland, Vivendi said.

      • 1 Reply to ragman_too
      • 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?

        -- C44

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