Still. it would appear that the commissions don't care about operating expenses. They're very high at FE, it looks like it's easier to ask for rate increases than to manage expenses. #$%$ deal for rate payers, pretty good for executives and investors.
I don't know, to the extent that vulgar, profanity laced speeches make one a good leader, I suspect he's got plenty of vulgar narcissistic speeches left in him.
Just look at the comparison of SG&A, capex ( depreciation) is not included in SG&A. Maybe it's easier to get rate increases than to manage expenses?
So, yes, all of those are expense issues. THe CEO needs to simply state, "I want two data centers, period, unless you can provide overwhelming evidence that that's not the right thing to do.
I have 1 acre of prime ocean front property lcoated just east of Phoenix I'd like to sell you, cheap!
Compare the number of new officers AEP recruited from outside and the tenure of the board members to the tenure of both the officers and board at FE. There might be a hitn here, it's very difficult to disagree with associates of twenty years duration. Nothing truly stupid gets approved nor anything truly brilliant, just the average wrong answer!
FE has $400 MILLION MORE REV. THAN AEP AND $1.5 BILLION MORE SG&A. SHOULDN'T THAT TELL US SOMETHING ABOUT MANAGEMENT. AEP'S STOCK IS $50 AND FE'S IS $30. What more is there to say.
FE has almost exactly the same numbers as AEP, the gross profits are within $300 million of each other, yet FE's SG&A is $1.5 billion higher. Hmmmm? Could a little attention to costs be in order?
Yes Unions did create the middle class and they made sure that no one succeeds to the upper middle class through harder work and that none end up in the lower middle class for refusing to work. Nothing truly brilliant nor truly stupid comes from a Union, just an average performance for maximum pay.
Staff cuts would have shown up in SG&A, $300 million would be about 3000 employees and would have been noticed, the charge to earnings for separation expenses that large would have been significant. Gotta be somewhere else.
Can anyone tell me where the $300 million announced expense reduction occurred? SG&A is up $246 million for the 9 months ending Sept. Take out the $1.9 billion securities gain and things don't look all that good. What am I missing?