Wall Street's sweetheart deals

Article Abstract:

The year 1998 witnessed several astonishing stock offerings brokered by creative treasurers and finance managers. Amazon.com Inc clinched a $326 million bond deal with Morgan Stanley Dean Witter. This was accomplished despite the growing margin between Amazon's stock price and earnings. Donaldson, Lufkin & Jenrette's bond sale for Niagara Mohawk Power Corp freed an estimated $700 million in cash flow for the electric firm. Niagara even obtained a BB- rating from Standard & Poor's. These and other deals clearly show how inventive treasurers can save companies from bankruptcy.

Other Financial Vehicles, All Other Nondepository Credit Intermediation, Mail Order Houses, Electronic Shopping and Mail-Order Houses, Electric Utilities, Private, Finance Leasing, Catalog and mail-order houses, Misc. business credit institutions, Financial Services NEC, Financial services industry, Financial services, Investments, Mail order business, Information services, Private electric utilities, Lease financing, Amazon.com Inc., Investment advisers, Going public (Securities), Initial public offerings, Information services industry, Niagara Mohawk Power Corp., NMK, Associates Corporation of North America

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Short-circuit

Article Abstract:

The power outages experienced by major corporations in Midwestern states, such as Ford Motor, UtiliCorp United, and Steel Dynamics, should prompt managers to seriously consider having electricity risk management methods. Large demands by industry and insufficient supply cause tremendous increases in energy with prices ballooning to as much as $7,000 per megawatt-hour. The new trend towards deregulation has also complicated the issue further since prices of electricity are dependent on market factors which make them more expensive.

Electric Utilities, Industrial, Energy use, Midwestern States, Deregulation, Energy consumption, Industrial electric utilities

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Powering up for change

Article Abstract:

Nova Scotia Power Inc. (NSPI) decided to reengineer its operations in 1992 after realizing that its customers were no longer willing to shoulder annual rate increases. NSPI's senior management formed a special task force that will consider the best approach to the reengineering process. The task force determined that NSPI should avoid laying off employees and focus, instead, on retraining them for new functions. It also recommended changes in NSPI's corporate culture to emphasize customer satisfaction and quality.

Electric Utilities, Nova Scotia Power Inc.

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