A Gruesome Chapter Closes at Duke
State regulators just forced Duke Energy (DUK) to remove their CEO and two other senior executives. Regulators also forced Duke Energy's board of directors to restructure, pay fines and keep 1,000 employees in Raleigh, N.C. But, even though this has all meant the heavy hand of government reaching deep into a private company's operations, it now seems there is some good news in all this: Control of the new Duke Energy will be returned to shareholders, including former Progress Energy shareholders.
With these decisions agreed upon, Duke Energy is now free to become the company shareholders had expected when they approved the Duke-Progress merger about a year ago. The combined company will have a new CEO and a new management team that regulators, employees and shareholders can trust. With major obstacles removed, Duke is now in a position to grow and prosper....643 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
There’s no substitute for a trading floor to get great ideas, so Jim Cramer created a better one at Real Money and blogs there exclusively. We then added legendary hedge fund manager, Doug Kass, with his exclusive Daily Diary and best investing ideas. Staffed with more than 4 dozen investing pros, money managers, journalists and analysts, Real Money Pro gives you a flood of opinions, analysis and actionable trading advice found nowhere else, and allows you to interact directly with each expert.
Already a Subscriber? Please login.