Conectiv to restructure with layoffs, plant sale

Article Abstract:

Conectiv (Wilmington, DE) announced on May 11, 1999, plans for a major restructuring as a way to better position itself for growth in a deregulated energy market. The proposed plan calls for trimming almost 7% of its workforce and selling interests in at least 7 nuclear and coal-fired electricity plants, repurchasing as much as 14% of its outstanding shares and cutting its stock dividend by 43%. In addition to adding open-market electricity and gas customers to its base of customers where it is the incumbent local utility, Conectiv seeks to add 100,000 local and long-distance phone lines a year to its fledgling telecommunications business over the next five years.

Comment:

Conectiv announces plans for major restructuring as a way to better position itself for growth in a deregulated energy market

Organizational history, Electric Power Generating, Electric Power Generation, Delaware, Conectiv

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No. 1 trash firm picks up a Mt. Laurel competitor

Article Abstract:

Waste Management Inc. of Oak Brook, IL, has purchased Eastern Environment Services Inc. of Mount Laurel, NJ, in a deal worth $1.19 billion in stock. The deal, which is labeled by both Waste Management and Eastern Environment as a merger, marks the most recent in a series of consolidations in the waste-hauling industry. Analyst William S. Brennan stated that Eastern Environment's biggest benefit to Waste Management may be the location of its market share. Brennan added that the purchase also gives Waste Management more ability to increase prices in markets.

Comment:

Purchases Eastern Environment Services Inc of Mount Laurel, NJ, in a deal worth $1.19 bil in stock

Asset sales & divestitures, Acquisitions & mergers, New Jersey, Refuse Systems, Waste Collection, Illinois, Waste management industry, Waste Management Inc. (Houston, Texas), Article, Eastern Environmental Services Inc.

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A bird in the hand is worth a skeptical look

Article Abstract:

The reason why a person will get $97 million, not $177 million if one demands instant cash for today's jackpot which is a bad deal is presented. A risk including a guesstimate of inflation is what justifies one getting less than face value.

Forecasts, trends, outlooks, Financial management, New York, Amusement and recreation, not elsewhere classified, Finance, Forecasts and trends, Inflation (Finance), Market trend/market analysis, Gambling industry, Company financing, Inflation (Economics)

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