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  • Investors approved of the proposed settlement with the N.C. Utilities Commission that effectively forces Jim Rogers out of any leadership role at Duke Energy (DUK +2.3%). The regulators clearly were out to get Rogers; adding insult to injury, the CEO search committee and DUK’s board are not permitted to appoint anyone who has served as DUK’s CEO, chairman or president - the titles Rogers holds. [View news story]
    It is very possible that you are correct about Bill Johnson (former CEO @ Progress) with the Fla. and NC PSC. Only has the PSC's had an input as to Duke's next CEO of the combined company, is due to the fiasco of the 'immediate' dismissal of Bill Johnson. Duke, James Rogers (CEO) and the Board of Directors (BOD) are all under investigation by the NC Attorney General's Office. The 'Commissions' will only 'oversee' the appointment of the next CEO to prevent another occurrence that happened after the Merger Approval. The Commission(s), FERC, SEC, NCAG, etc. were all 'blindsided' by Duke (Jim Rogers-CEO & BOD) actions, and are determined to see that Duke will appoint the most qualified and honorable CEO successor. If the NC PSC does 'appoint a CEO, it will only be an interim CEO, until Duke (BOD & stockholders) can appoint a person to best serve the company, customers and stockholders.

    Unfortunately, the CR#3 costs will continue to be partially on backs of the customers, even if it is abandoned or decommissioned. I don't expect Duke to attempt any repairs due to the extreme costs involved. The age of the plant vs. newer technology also make it cost(s) prohibitive.
    Dec 3 11:59 AM | Likes Like |Link to Comment
  • Energy sector CFOs lobby for low dividend tax rates, but they're resigned to at least a small increase. Southern (SO) CFO Art Beattie's top concern is that the tax on dividends not be delinked from the tax on capital gains: “If you delink them, you are penalizing dividend-paying companies as opposed to companies like Apple, which is a growth company and doesn’t pay out much in dividends.” [View news story]
    Agreed ~! Now what can we do about ObamyCare?
    Dec 3 09:58 AM | Likes Like |Link to Comment
  • Duke Energy: A Low-Risk, High-Return Utility Stock To Buy [View article]
    <metal27> & <gators>All large Electric Utilities', including Duke, are 'self insured' so no real break from insurance coverage, just a transfer of funds within the company. Still very costly to Duke, indirectly.

    Let's generalize and re-cap the events: There obviously was a period of potential-merger negotiations before Progress agreed (1-2 years, est.) with the basic understanding that Bill Johnson would be CEO of the 'merged companies'. Some of the existing Progress Exec.'s and Directors would also become part of the merged company.

    Another eighteen (18) months to get the appropriate commission(s)' and other authorities' Final Merger Approval. Again, with the understanding that Johnson would be the CEO and James Rogers would be appointed to head the Board of Directors, with other guidelines. Immediately (?) upon receipt of the approval, it was 'decided' by James Rogers (to remain CEO of Duke) and Duke's Board of Directors, that Bill Johnson (quote) "was not a good fit" for the merged companies and cannot be the CEO as previously agreed. Rogers also stated that Duke was (quote) "mislead" concerning CR#3. What an excuse/comment !

    SUMMARY: By the Duke agreement of Bill Johnson as CEO, Progress Executives and BOD appointments, this was seen as a positive by the authorities and definitely influenced their approval decision. The Commissioners (including other authorities) were 'blindsided' when Duke made the announcement about Johnson, which had to be determined (planned ?) far in advance of the final merger approval.

    With reference to CR#3: There was adequate time for Duke to have independent consultants to investigate the status of CR#3 and cost options, and not rely on any 'hearsay' (?) from Progress. Surely they must be better managed than that.

    Resultant: Unhappy Commissions (all states), Stockholders (institutional), Employees and Customers.

    The NCUC has begun their sanctions on Duke, and the NC Attorney General's Office continues their investigation. However, I predict that it will be years before this is forgotten by ALL commissioners in ALL the states served by Duke with reference to rate increases (NC, SC, Fla., Ohio, Kentucky, Indiana, etc). My money is on a better managed company.
    Dec 2 01:57 PM | Likes Like |Link to Comment
  • Union Troubles Could Hurt Verizon [View article]
    <squig>Sorry, I must have confused you.

    1) I spoke of official strikes (or walkout, as you stated) in general, not specific to Verizon, WalMart, Restaurants or anyone else. Only specific to UNIONS. It appears that we have meandered off of the Article's Subject anyway.

    2) I refuse to connect to any link from anyone considered "unknown". Rather risky don't you think ? I presume that it has something to do to enforce your opinion.

    3) I am well versed in Labor Laws (and Acts), both civil (private) and governmental. I merely wanted to point out that sometimes a Strike is not productive, albeit, counterproductive.

    4) Yes, I'm aware of the current, as well as the past (historical), labor events that you stated. How can I not be ?

    5) Grammatical errors : Please accept my most humble apology (your vs. you're). I've reviewed my ?'s and all seem appropriate as intended.

    I believe that we have now adequately expressed our differences and entertained the other commentators. I respect your opinions, but to continue would be of no value via this site. It's been a joy. Any response will be ignored. Nuf Said.
    Dec 1 07:29 PM | Likes Like |Link to Comment
  • Duke Energy (DUK) CEO Jim Rogers says he intends to retire by the end of 2013, consistent with the expiration of his contract. A special board committee will oversee the recommendation of a successor, as stipulated in DUK's just-announced settlement with North Carolina regulators regarding the management succession following the merger with Progress Energy. [View news story]
    I didn't intend it to be an "indictment", just my opinion from personal exposure about one man, specifically. No, two dots do not paint a picture, unfortunately, but the undisclosed character is rather dismal. BTW have you heard about the possibility of Rogers becoming Secretary of Energy ? At this point Rogers says he is not interested(?). We'll see................

    Thanks.
    Dec 1 06:04 PM | Likes Like |Link to Comment
  • Duke Energy: A Low-Risk, High-Return Utility Stock To Buy [View article]
    I sincerely wish you well with your DUK investment.
    Dec 1 04:19 PM | Likes Like |Link to Comment
  • Duke Energy: A Low-Risk, High-Return Utility Stock To Buy [View article]
    I completely agree with your comment........well put. CR3 will be 10's of $Billions even if they abandon or decommission. Can't believe they would even attempt to repair.

    Great Comment !
    Dec 1 04:14 PM | Likes Like |Link to Comment
  • Union Troubles Could Hurt Verizon [View article]
    <squig>........G... you've forgotten what President Reagan did to the ATC union.
    Dec 1 04:00 PM | Likes Like |Link to Comment
  • Union Troubles Could Hurt Verizon [View article]
    <squig> You are so, so correct ! However, you should do a little more opened-minded 'research'. Has there ever been an 'official' (and I emphasize 'OFFICIAL') Strike against an employer (Company or Corporation) except by an Organized Workers' Group (ie: Organized Union that is "represented" and financed by an identified and unified specific group of 'skilled' (?) workers) ?

    Sure, any dissatisfied non-union worker(s) can proclaim a "Strike", but the immediate result is called..... FIRED.

    You're (not 'your') welcome, too.
    Dec 1 03:53 PM | Likes Like |Link to Comment
  • Union Troubles Could Hurt Verizon [View article]
    But isn't it all relative to the original intent and subject ? Verizon and the Unions.
    Dec 1 03:18 PM | 2 Likes Like |Link to Comment
  • Union Troubles Could Hurt Verizon [View article]
    But not STRIKE or even to threaten. Thanks for your useless information.
    Nov 30 10:04 PM | Likes Like |Link to Comment
  • Union Troubles Could Hurt Verizon [View article]
    <onlyapps> "employed" ? By who? Answer: Paying Union Card Holders. Thanks, my point exactly. Not really employed when you're a 'Member' of an Organized Group........... Was Hoffa "employed" ?...... "Benefits and Pensions" ? You must not have read my previous Comment (above). Again, "I've been on both sides of the issue" skilled worker-electronics (Union) and Corporate Management (Non-union), have you ? How can you remain un-bias when Union(s) is your only exposure ? ?

    You're welcomed to try again, for I've intentionally left you an opportunity for rebuttal.
    Nov 30 05:46 PM | Likes Like |Link to Comment
  • Union Troubles Could Hurt Verizon [View article]
    As well as the prices for their services ! !
    Nov 30 04:52 PM | 1 Like Like |Link to Comment
  • Union Troubles Could Hurt Verizon [View article]
    NAME ONE...............
    Nov 30 02:15 PM | Likes Like |Link to Comment
  • Duke Energy: A Low-Risk, High-Return Utility Stock To Buy [View article]
    Most of Rogers' Exec's also should be fired, as well, as the original Duke Board of Directors. Duke has been mis-managed for too, too long. Greed, Dishonest, and Unethical CROOKS at the dedicated employees and stockholders' expense. Another top Executive should be removed is the CFO, for incorrect financial reporting. Their 'severence pay'/retirement will be enormous. They all deserve jail-time and no exit pay. Does Madoff come to mind ? ? Total recovery will years off. Limited or no "rate increases" in the near future.
    Nov 30 02:00 PM | Likes Like |Link to Comment
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