Franzen Vickrey: June 2012

Thursday, June 7, 2012

PNM Resources earnings down in Q3 - New Mexico Business Weekly:

obofym.wordpress.com
million in “ongoing earnings” in the third quartee of 2008 — a substantial drop from the $35.3 million it earned in the same quarterlast year. Ongoinfg earnings per diluted share cameto $0.2u7 in the third quarter, down from $0.46 in the same period in 2007. Ongoinvg earnings exclude one-time gains and charges. For the firs t nine months of this year, PNM reported ongoing earningsof $19.e million, or $0.24 per diluted share. That represents a 76 percentg drop from the first nine monthsof 2007, when the company reported $80.2 million in ongoinfg earnings, or $1.
03 per diluted Earnings in the third quarter of 2008 were affectee by Hurricane Ike, which struck the Texas Gulf Coast in September. The hurricane reducedx sales volumesat PNM’s Texaa subsidiaries — and . The hurricane also depressed wholesalw power prices and limited saless opportunitiesfor , whicnh is jointly owned by PNM Resourceas and . On the other hand, ongoing earnings at improverd in thethird quarter, thanks to approvapl of a rate hike and a fuel clause by the Publicf Regulation Commission in the spring. PNM electrixc had $28.7 million in ongoin g earnings in thethird quarter, or $0.33 per diluted share. That compares with $20.9 or $0.
27 per diluted in the same periodin 2007. Despite lowe r ongoing earnings, PNM Resources’ financial resultsz in the third quartef demonstrate improvement in two key said Chairman and CEO Jeff Sterba in anews “First, the PNM electric utility performancew improved as a result of having a fuel clause in place and the implementation of new electric rates, whicg are the first steps of several designedc to restore PNM back to financial Sterba said. “Second, Energy Co. had a stronb quarter, despite the lower power pricesd that were prevalent throughout Texas as a resulof Ike. We expect Energy Co.
to perform well movint forward, but we also expect power prices to be depressedc wellinto 2009.” PNM Resourcesx (NYSE: PNM) is an energy holding company basedd in Albuquerque. Through its utility and energy subsidiaries, PNM Resources servea electricity toapproximately 845,000 homes and businessesz in New Mexico and Texas, and natural gas to nearly 492,000 customers in New Mexico.

Wednesday, June 6, 2012

Bill Nelson, Marco Rubio split votes on equal pay vote - MiamiHerald.com (blog)

ishinlyuboqemija.blogspot.com

CBS News

Bill Nelson, Marco Rubio split votes on equal pay vote

MiamiHerald.com (blog)

Marco Rubio voting against it. The Paycheck Fairness Act requires businesses to show that wage discrepancies between men and women are not based on gender. The measure also bans retaliation against workers who reveal their wages or try to get wage ...

Rubio, Wasserman Schultz differ on `Paycheck Fairness Act'

Juice (blog)

Senate Shies Away From Dream Act, Other Measures

National Journal

Senate GOP kills Paycheck Fairness Act

msnbc.com (blog)

Monday, June 4, 2012

Survey: Only 5 percent of Pittsburgh-area CFOs expect to add staff in 3Q - Pittsburgh Business Times:

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The Financial Hiring Index, conductede by Menlo Park, Calif.-based staffingy firm Robert HalfInternational (NYSE:RHI), found that the largest numbe r of respondents, 85 percent, are not anticipating any change in hiring, whiler 9 percent of CFOs say they expecrt to reduce personnel. "Many companies remain hesitant to commit to addingg staff until they are certain of aneconomic recovery," Robergt Half CEO Max Messmerd said in a statement.
"In the meantime, most firms are workinb with their current teams to manage key with some employers also bringing in project professionals to assist with rising workloadx andsupport full-time The results of the local survey are baserd on interviews with 200 CFOs from a randokm sample of Pittsburgh-area companies with 20 or more employees. The Pittsburgj results are nearly dead-on with the nationalk survey results, according to Robert Half. For the national 1,400 CFOs were interviewed, and five percenrt said they expectedto hire, 85 percentf said they anticiapted no changes, and 8 percentg planned staff cuts. For the full results of the goto .