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The Empire District Electric Company Message Board

  • Faux_GTX Faux_GTX Dec 29, 2000 8:45 AM Flag

    matt,tapped

    I have freinds who work for EDE too. They went
    through restructuring a few years ago. There is not a
    whole lot of fat. I understand about 270 jobs were to
    be lost to the merger from duplicate jobs, personel,
    accounting, rates, customer services, etc. The rest are
    support for production and transmision and distribution.
    They only have about 150 linemen. I live in this area
    and fear my service will never be what it has been. I
    invest in companies I like and support. Deregulation of
    the phone system has left a nasty taste in my mouth.
    It looks like something worse is coming to the
    electric industry.

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • Has there been a response from EDE with the announcement by UtiliCorp to pull from the proposed merger/acquisition? What was EDE's backup plan, business as usual?

      • 2 Replies to AirChop
      • I have been told its business as usual. I guess there won't be any future formers now either. Have a good day!!!!!

      • Haven't heard what will happen yet. The employees
        that I know are still grinning quite loudly. I would
        say they have incured some costs in this
        merger/acquisition but I don't know what the plan is. It seems some
        of the costs of buying the bonds, etc. could have
        been spent anyway and are sort of a wash. There has to
        be some costs that will just have to be swallowed.
        They still have to go through with their rate hike to
        keep things above water. I would like to see them open
        up the stock re-investment program again.

    • While telco deregulation may seem wild and wooly
      at times, that is the price and the benefits of a
      free market. For proof, I only need to point to the
      internet. In regulated days, you think you could hang
      on-line, 24 hours a day for 20 bucks a month?? FAT
      CHANCE.

      Furthermore, do NOT assume that electric deregulation is a
      failure based on California's mess. They NEVER
      deregulated. They let generation float to wholesale prices
      while keeping consumer prices fixed. They forced the
      utes to buy at spot prices by forbidding hedging. It's
      kinda like being a little bit pregnant.

    • I couldn't agree more with your post. The
      interesting thing the PSC approved the merger, but denied
      UCU's regulatory plan to recover cost of the merger.The
      head of UCU Rick Green testified before the Missouri
      PSC if they did not agree to let them have their own
      regulatory plan then it didn't make sense to go forward with
      the merger. Now we will see if he is a man of his
      word. The other rather odd thing is the fact UCU hasn't
      made any comment about the decision that I have been
      able to find. Sunday night at midnight either party
      can walk away with no penalties. Should be an
      interesting weekend for employees and investors a like. Happy
      Investing!!!!!

 
EDE
25.24+0.10(+0.40%)Jul 22 4:00 PMEDT

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