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Northwestern Corporation Message Board

harley842 116 posts  |  Last Activity: Aug 19, 2008 8:53 PM Member since: Nov 1, 2000
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  • Reply to

    BYE BYE Mike

    by exjaded Aug 15, 2008 5:05 PM
    harley842 harley842 Aug 19, 2008 8:53 PM Flag

    Yes, I remember Paul. He was one of those good employees who was dedicated, with lots of talent...the kind of people Mike wanted to get rid of...because they knew more about running a utility than he or any of his cronies.

  • harley842 by harley842 Aug 19, 2008 8:42 PM Flag

    Mike Hanson's departure is what I would call a good start for the Company to get back on the right track. I wonder how some of the cronies are sleeping? They have reason to be nervous. I am predicting a few more heads to roll and the Sioux Falls office will be non existent after the three year commitment with the SD PUC is up. It's too bad so much good talent was driven away by Mike's group.

  • harley842 by harley842 Aug 19, 2008 8:42 PM Flag

    Mike Hanson's departure is what I would call a good start for the Company to get back on the right track. I wonder how some of the cronies are sleeping? They have reason to be nervous. I am predicting a few more heads to roll and the Sioux Falls office will be non existent after the three year commitment with the SD PUC is up. It's too bad so much good talent was driven away by Mike's group.

  • Reply to

    Aussie's

    by sshitmen1977 Jun 1, 2007 10:24 PM
    harley842 harley842 Jun 1, 2007 11:37 PM Flag

    The Aussie deal is done. Not saying that they won't fight it, but it would be throwing money down the drain. Northwestern may do, this, as they have shown they are not afraid to throw millions down the toilet. Remember 1st megawatts? The price hasn't tanked because the shares are in the hands of a few and they know if the start dumping on the market the price will drop. IF I remember correctly, BHP was offering $35, so they may feel they can still get something in that neighborhood from another buyer. NWE is still going to be sold, I just don't think it will be to BBI.

  • harley842 by harley842 Feb 13, 2007 10:02 PM Flag

    Saw an Aussie article that says BBI debt may be headed in the junk direction? Lot's of bullets flying from the company and opposition to the sale. Also talked to some people with NW connections and they said operations are not going well after BK. Not much upside at the current price, but lots of downside if MT throws up a road block. Should know in a couple of months where the chips will fall.

  • Reply to

    This Duck ain't outa da water just yet!

    by reallyoldfart1 May 20, 2006 3:05 PM
    harley842 harley842 May 21, 2006 10:54 PM Flag

    Good info old fart. You have great insight to this company, present and past. What do you think about this one? Let's say for speculation, could this be a strategy set up by some of the cronies? What if they had reason to believe that the PSC would not likely approve such a deal as proposed? The stock jumps, Harbert bails at $35. Stock is now in quite a few more hands than before? The deal fails and Harbert isn't around to push the buttons? Of course if this was orchestrated, it would be highly illegal and I surely am not accusing anyone here.

  • Reply to

    What if?

    by harley842 Apr 26, 2006 6:32 PM
    harley842 harley842 Apr 26, 2006 10:23 PM Flag

    Thanks for your perspective. The $35 is more than I expected too. I think I will sell for $35 and some change. This think looks like it could go through pretty easy, with the Montana PSC being the wildcard. Everthing BBI is saying they will do for the Company and Montana is what NW said when buying Montana Power. I believe that is still very fresh in the minds of some Montanans. BBI may have the best of intentions, but they are following a trail that still has some burnt paths.

  • harley842 by harley842 Apr 26, 2006 6:32 PM Flag

    What are the chances of this thing getting approved? This is a chance for those who want out to get out at a good price. If approval fails, NWEC is not at fault and the deal is off. Was BBI picked because it was the best deal for all parties, or some parties?

  • Reply to

    Strategic Alternatives

    by harley842 Feb 8, 2006 8:16 PM
    harley842 harley842 Feb 23, 2006 6:45 PM Flag

    Greetings to exjaded and reef. It was good to here from both of you.

    Merle and Dick destroyed this company. It may have had a chance to recover if the stockholders wanted to own a utility. The company will no doubt be sold soon. For those who worked and still work for the company, it will be bitter sweet. It will be sad to see the company go, but, it is probably best for all in the long run. Hopefully a good company ends up with it. I believe investigations are still ongoing. There still may be some justice.

  • Reply to

    Strategic Alternatives

    by harley842 Feb 8, 2006 8:16 PM
    harley842 harley842 Feb 9, 2006 7:39 PM Flag

    If Mid America wants it bad enough, they will get it. They have what the shareholders want......CASH. BKH doesn't have the cash. One thing is, Warren Buffet usually doesn't buy anything unless he sees it as a value. I think BKH does want this bad enought that they may be willing to overpay. This may get them in the same fix NWE was in. It is interesting to watch this play out.

  • Ok, the press release said the due diligence could take several weeks. Does this seem like pretty fast due diligence for a billion + transaction? Is the deal already done? No news yet about an annual meeting. I bet they are trying to get a deal done before then. My bet is it won't be with BKH.

  • Reply to

    CSFB FINDING A BUYER

    by harley842 Jan 14, 2006 7:36 PM
    harley842 harley842 Jan 15, 2006 6:09 PM Flag

    My point is: Will CSFB try and find the best buyer for the shareholders? Will they recommend someone like Warren Buffet? Or will they recommend someone in financial trouble and of course offer to finance them like they did NW? It's my opinion that CFSB played a big part in NW shareholders getting screwed over the 1st time. Who's interests are they going to cover in this deal?

  • harley842 by harley842 Jan 14, 2006 7:36 PM Flag

    Am I correct that CSFB is in charge of evaluating strategic alternatives (finding a buyer)?

    If I am correct, CSFB was the bank that borrowed NW the money to buy Montana Power. I believe that CSFB knew very well that NW could not pay off all the debt. With much of the debt unsecured, I believe CSFB stood at the front of the line to make out like a bandit. Anyone, correct me if I am wrong.

    Is CFSB going to do the same thing again? Are they going to find a buyer who can't afford the purchase?

    A very interesting situation going on here.

  • Reply to

    Feet to the fire!

    by reallyoldfart1 Dec 16, 2005 10:41 PM
    harley842 harley842 Jan 6, 2006 8:13 PM Flag

    You are right. He was hand picked by Merle! The next couple of months are going to be very interesting watching NWE. The company is going to be sold. I just wonder if the execs are going to go down kicking and screaming or will they go quietly? Yes, it all depends on what color their parachutes are.

  • Reply to

    Feet to the fire!

    by reallyoldfart1 Dec 16, 2005 10:41 PM
    harley842 harley842 Dec 18, 2005 2:03 PM Flag

    It will take a while for a deal to be finalized (1 Yr minimum). I think we will have a good idea in the 1st qtr of 2006 of what is likely to happen and what price. I think $35 is a pretty good premium for this company. Remember, the shareholders were urging the BOD to look at the Montana Public Power deal at $32.50. The Black Hills deal is for the most part, a swap for stock and some cash. There is no doubt there are other companies interested, who may become known soon. If Warren Buffet (Mid American Energy) came with an offer of $32 cash, and I were a major stockholder, I think I would push for the deal. I believe in the end it will sell for between $30-$33. I my opinion this company is going to be sold, it is just a matter of who buys it and for what price.

  • Reply to

    Feet to the fire!

    by reallyoldfart1 Dec 16, 2005 10:41 PM
    harley842 harley842 Dec 17, 2005 3:22 PM Flag

    I have been quite surprised by th BOD action, or lack there of. Are these guys that arrogant that they forget who they work for.... the stockholders? This Company is going to be sold. The BOD should do their job and do whats best for the stockholders, the customers and the employees, find a good solid company that is willing to make the investment and take out the trash.

  • harley842 by harley842 Nov 11, 2005 12:55 PM Flag

    I wonder if the company is dissapointed at the market's response to the stock buy back and 2006 guidance? I still believe a sale is coming soon.

  • harley842 by harley842 Aug 9, 2005 9:46 PM Flag

    Can you believe it!!!

    NW paid Drook $1.13 million to leave!

    They are paying his cell phone bill for 2 years!

    They are paying his internet service for 2 years!

    They are paying his medical, dental and vision insurance for 2 years!

    They are funding a $1 million life insurance policy for him!

    They are going to buy his house in Sioux Falls if he can't sell it!

    This was all reported in the Sioux Falls Argus Leader newspaper today.

    The guy was on the board of directors when this company was run into the ground. It is my opinion that he neglected his fiduciary duties as a board member. He should not have been rewarded for trying to fix something that he was involved in when it got broken!!

    Shame on you, new BOD! For God's sake, can't the man afford his own cell phone and internet after the money he has taken out of this company?

  • Reply to

    Breach of Fiduciary Duties

    by wtchdg1 Jul 2, 2005 11:39 AM
    harley842 harley842 Jul 2, 2005 11:03 PM Flag

    Could there be a deal in the works for more money? I still think there is a deal that will be done before too long.

  • Reply to

    public power authority

    by itshoe May 1, 2005 12:09 PM
    harley842 harley842 May 1, 2005 3:50 PM Flag

    It is interesting that the authorities have combined their efforts. I don't think they will be successful. I believe there are 2-3 companies interested in the assets. I think one of them are more likely to pick this one off.

NWE
46.56-0.40(-0.85%)3:22 PMEDT

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