May 11, 2005 |
Mirant Corp., a U.S. power producer that is under bankruptcy protection, said first-quarter profit fell 63% on higher costs for coal and oil used to generate electricity. Profit dropped to $11 million, or 3 cents a share, from $30 million, or 7 cents, a year earlier, Atlanta-based Mirant said in a Securities and Exchange filing. Sales fell 29%.
January 1, 2003 |
Mirant Corp., an electricity producer and trader trying to raise cash to reduce debt, completed the sale of its stake in a Chinese power plant for $300 million to a unit of the Chinese Foreign Ministry. Mirant's share of the Shajiao C plant near Hong Kong, the largest coal-burning plant in Guangdong province, was sold to China Resources Power Holding Co., the company said.
May 1, 2003 |
Mirant Corp., owner of power plants in 14 states, completed an audit that showed the company had a $2.44-billion net loss last year and that profit for 2000 and 2001 was inflated by $188 million. The per-share loss was $6.06 and included expenses to shed workers, quit businesses and write down the value of energy ventures in the U.S. and overseas, the company said. Restated profit for the previous year was $409 million, or $1.19 a share.
September 17, 2004 |
Mirant Corp., an Atlanta-based power producer that is in bankruptcy protection, said its board of directors was searching for a new chief executive who might replace Marce Fuller. The search began early this year and was confidential until Thursday, a Mirant spokesman said. He declined to say whether the board decided to fire Fuller, 44, or whether she planned to step down. The board is looking at internal and external candidates.
August 6, 2002 |
Mirant Corp. said that the Securities and Exchange Commission has started looking into its accounting and energy trading after the company disclosed last week that it may have misreported $253 million in assets and liabilities. The SEC asked for details on transactions with other companies, as well as shareholder lawsuits and energy sales in the West during California's power shortage, Mirant said.
November 10, 2007 |
Mirant Corp. stock plunged 11% after the owner of power plants in six U.S. states said it had abandoned efforts to sell the company and would instead return $4.6 billion to investors through buybacks. Mirant shares fell $4.89 to $37.51, their biggest one-day drop since they began trading in December 2005 as the company emerged from bankruptcy. Mirant amassed more than $6 billion in cash after selling plants in the U.S. and assets in the Caribbean and the Philippines.