wgroup

Hurricane Katrina Impact on Entergy (ETR)

"Entergy's financial reserves for storm damage have been depleted by previous storms and are currently at a deficit of $80 million."

(biz.yahoo.com/ap/05090...)

"The timing of remaining share repurchases under our $1.5 billion buyback program may be more heavily weighted toward the end of 2006 as infrastructure investments take center stage over the next few months,"

Entergy is tapping nearly every state and federal office to consider "long term commitments" and to help the utility and Gulf states recover from the storm, Denault said.

"Our goal in all of these efforts is to help policy makers recognize and consider the longer term issues that must be addressed," Denault said, referring to coastal restoration, infrastructure upgrades, and federal funding to help customers pay energy bills.

(CBS MarketWatch Story)



Um, isn't the CFO in effect implying that ETR is seeking public money and/or taxpayer-funded assistance so it can resume its share buyback program in a year or so?

Isn't that in effect getting taxpayers to subsidize the share buyback?