California utility suspends dividend for shareholders

Article Abstract:

Pacific Gas and Electric (PG&E) announced that it will not give dividends for 4th qtr 2000 and has told the SEC that it needs to come up with a bailout plan soon or it might go bankrupt. PG&E said that has $500 million in cash but has to pay $2.2 billion in debt by Mar 2, 2001, including $583 million on Feb 1, 2001. Its stock closed at $13.56 per share on Jan 10, 2001, slightly less than half its $27.63 price on Nov 29, 2000.

Electric Utilities, Electric Power Generation, Transmission and Distribution, Sales, profits & dividends, Pacific Gas and Electric Co.

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2 energy mergers land as gas prices hit record

Article Abstract:

Two mergers in the energy industry were announced the day the average nationwide price of unleaded regular gasoline hit an all-time high of $1.68 per gallon in the US. Valero Energy is acquiring rival Ultramar Diamond Shamrock for $4 billion in cash and stock, assuming $2.1 billion in debt. Williams Cos will purchase Barrett Resources for $2.5 billion in cash and stock and the assumption of $300 million of debt.

Acquisitions & mergers, Utilities, Energy

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Ford alters worker evaluation process

Article Abstract:

Ford Motor Co. said that it is changing its employee evaluation system as it has resulted in numerous age-discrimination lawsuits.

Motor Vehicles & Parts, Transportation Equipment Manufacturing, Personnel administration, Motor Vehicles and Equipment, Brief Article, Ford Motor Co., F

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