I just spoke to Brent and he still cannot get into the website. Can you get with TradeSpark and figure out what the problem is and how can we get our people access. Thanks.
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answer: TradeSpark Website
Lorraine, I've been studying the El Paso/Dynegy reservation reduction mechanism (RRM). Basically the deal was that Dynegy's minimum-pay obligation would be reduced by the amount of the fixed cost component of IT revenues generated by El Paso's transportation of IT volumes above a historical threshold. (The parties based the threshold on El Paso's monthly IT volumes for the 12 months ended 9/30/97.) The volumes in excess of the threshold were calculated and a ratio of the volumes in excess of the threshold to the total volumes was determined; the ratio would then be applied to the fixed cost component of all IT revenues and the resulting dollar value applied to Dynegy's monthly reservation charge, to the extent Dynegy had not met its minimum pay obligation for a particular month. This provision of course met with heavy opposition; however, FERC allowed it. FERC stated that while the RRM had anticompetitive effects because it created a disincentive for El Paso to discount IT, it was not unduly discriminatory. The "unduly discriminatory" conclusion was based on an analysis on the potential effect on the Cal. gas transportation market -- the
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answer: Duke
FPL, Entergy Merge in $7 Billion Deal NEW YORK (Reuters) - FPL Group Inc., the parent of Florida Power & Light Co., said on Monday it would merge with Entergy Corp. in a stock deal worth $7 billion to create the largest U.S. power generating company. The combined company would have a total enterprise value of more than $27 billion, consisting of $16.4 billion in equity market capitalization and $10.7 billion in debt and preferred stock, the companies said. The merger is expected to immediately boost earnings for both companies. Under the terms of the agreement, FPL shareholders would receive one share of a new holding company for each FPL share held. Entergy shareholders would get 0.585 of a share of the new holding company for each Entergy share. Based on the companies' closing stock prices, the deal would value Entergy at its market value of $7 billion, or about $30.89 per share. FPL shares closed Friday at 52-13/16, off a year high of 56-5/8 but up from a low of 36-3/8. Entergy stock ended at 30-5/16, off a high of 31-3/16 but up from a low of 15-15/16. SHAREHOLDERS' APPROVAL REQUIRED The combination must be cleared by shareholders as well as federal regulators. FPL and Entergy said they hope to complete the transaction within 15 months. ''The merger combines two strategically aligned, financially healthy companies into an organization that has no equal in the industry,'' said J. Wayne Leonard, Entergy chief executive. Leonard will serve as president and chief executive of the combined company while FPL's chief executive, James Broadhead, will serve as chairman. The deal was billed as a merger of equals but gives FPL shareholders 57 percent of the combined company and eight of 15 seats on the board of directors, the companies said. Once combined, the new company is expected to see annual cost savings of $110 million to $150 million in its regulated businesses derived from eliminating duplicate corporate and administrative positions and programs. Competitive businesses should see annual cost savings and revenue enhancements of $40 million to $125 million and capital expenditure savings of $50 million to $100 million, the companies said. FPL and Entergy said they will seek to ''minimize workforce effects of the merger'' through a variety of unidentified efforts. In addition, both FPL and Entergy have authorized stock buyback plans, together worth $1 billion. FPL plans to repurchase $570 million shares while Entergy is looking to buy back $430 million in stock, the companies said.
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answer: FPL/Entergy merger news article
Hi Al, My suggestion is that you capture the change order with change order #1 for PSCO's break out contract. If it needs to be paid before year end (which it probably does) you can put a payment date of December 20th, and it will be paid out of TurboPark. This approach has been discussed with Lee Johnson at GE, and he is fine with it. Thanks,
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answer:
Change order to GE contract for PSCO changes