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BUSINESS
September 11, 2001 | Bloomberg News
Los Angeles-based Capital Research & Management Co., parent of the American Funds group of mutual funds, has upped its stake in beleaguered Edison International Inc. Capital, known for investing in "value" stocks, raised its stake in Edison to 11.2% at Aug. 31 from 7.7% at June 30, as the owner of California's No. 2 electric utility struggled to stay out of bankruptcy, the fund firm said in an SEC filing. Edison, parent of Southern California Edison, has racked up more than $5.
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BUSINESS
September 11, 2001 | Bloomberg News
Los Angeles-based Capital Research & Management Co., parent of the American Funds group of mutual funds, has upped its stake in beleaguered Edison International Inc. Capital, known for investing in "value" stocks, raised its stake in Edison to 11.2% at Aug. 31 from 7.7% at June 30, as the owner of California's No. 2 electric utility struggled to stay out of bankruptcy, the fund firm said in an SEC filing. Edison, parent of Southern California Edison, has racked up more than $5.
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BUSINESS
January 10, 2003
* EchoStar Communications Corp. said its Dish Network satellite TV service will increase basic rates by $2 a month effective Feb. 1. The increase is to cover rising programming costs and the introduction of new channels, the company said. * A federal judge ruled that OpenTV Corp. may pursue patent infringement allegations against Liberate Technologies and said OpenTV didn't cause consumers to infringe a Liberate patent related to interactive television.
BUSINESS
July 2, 1999
* Strouds Inc. reported a net loss of $1.2 million, or 15 cents a share, for its fiscal first quarter ended May 29. That compares with a loss of $596,000, or 7 cents, last year. The Industry-based retailer of home textile products reported a dip in sales, to $53.6 million, down from $55.0 million a year ago. Strouds shares fell 25 cents to close at $1.38 on Nasdaq. * * WD-40 Co., the San Diego-based maker of lubricants and soap, reported fiscal third-quarter net income of $4.
BUSINESS
December 24, 1998 | Bloomberg News
Edison International Inc. said its power plant unit agreed to buy a 50% stake in a Puerto Rico plant project from Kenetech Corp. for $245 million. The Edison Mission unit plans to enter a partnership with a unit of Enron Corp. to build a 540-megawatt plant fueled with liquid made from natural gas. The partnership also would build a storage terminal for the fuel and a desalinization plant to service the power plant.
BUSINESS
December 30, 2005 | From Reuters
Three of the biggest players in the California energy market have filed papers with the U.S. Bankruptcy Court in New York seeking to block Calpine Corp. from using its insolvency to get out of long-term power supply contracts. Southern California Edison, a unit of Rosemead-based Edison International Inc.
BUSINESS
August 21, 1998 | From Bloomberg News
Edison International Inc., the fifth-largest U.S. utility, on Thursday said it plans to sell electricity in Pennsylvania next year to further its effort to compete in the northeastern U.S. electricity market. Edison said its Edison Source subsidiary signed a three-year agreement to sell electricity to Philadelphia Gas Works, Philadelphia's municipally owned natural-gas utility, which would resell it to its customers.
BUSINESS
February 26, 2004 | Elizabeth Douglass, Times Staff Writer
Moving to resolve lingering price-manipulation allegations in California, Williams Cos. agreed Wednesday to forgive up to $140 million in unpaid power bills racked up by Southern California Edison, Pacific Gas & Electric Co. and other utilities during the state's energy crisis. The deal, which must be approved by regulators, is expected to result in refunds for some utility customers, who experienced steep rate hikes during the crisis.
BUSINESS
April 3, 2001 | From Times Wires Services
Edison Mission Energy, the power plant development arm of cash-strapped Edison International Inc., sold $600 million worth of debt securities Monday, overcoming substantial concerns about its exposure to the troubled California utility market. Investors viewed Edison Mission, based in Irvine, as sufficiently removed from the fray to buy the notes, which mature in 10 years. But the company paid for the funding: The yield is 9.88%.
BUSINESS
August 23, 2001 | JERRY HIRSCH, TIMES STAFF WRITER
As the framework for a scaled-down plan to make Southern California Edison solvent emerged in Sacramento this week, analysts said the fate of the state's second-largest utility will be decided by politicians rather than the power generators, bondholders and other creditors that have waited months to collect what's owed them.
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