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BUSINESS
December 16, 1999
* Edison International completed its acquisition of 16 Illinois power plants from Unicom Corp. for $4.8 billion in cash to expand into the Midwest. The acquisition gives Rosemead-based Edison access to the fast-growing Midwest electricity market, where there's a shortage of power at times of peak demand.
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BUSINESS
December 16, 1999
* Edison International completed its acquisition of 16 Illinois power plants from Unicom Corp. for $4.8 billion in cash to expand into the Midwest. The acquisition gives Rosemead-based Edison access to the fast-growing Midwest electricity market, where there's a shortage of power at times of peak demand.
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BUSINESS
September 24, 1999 | Associated Press
Unicom Corp., parent of Commonwealth Edison Co., is merging with Peco Energy Co. of Pennsylvania in an $8.2-billion deal that would create the nation's largest electric utility. The new company would also be one of the nation's largest nuclear power generators. The companies said the merger could result in the loss of about 1,100 jobs, or about 5% of the combined work force of 22,500 people.
BUSINESS
September 24, 1999 | Associated Press
Unicom Corp., parent of Commonwealth Edison Co., is merging with Peco Energy Co. of Pennsylvania in an $8.2-billion deal that would create the nation's largest electric utility. The new company would also be one of the nation's largest nuclear power generators. The companies said the merger could result in the loss of about 1,100 jobs, or about 5% of the combined work force of 22,500 people.
CALIFORNIA | LOCAL
October 24, 2000 | BARBARA MURPHY
Power-One Inc. in Camarillo, a maker of power conversion products, has been added to the S&P 500 Index. The company replaced Unicom Corp. on the index. "We believe that this will raise our visibility within the investment community," said Steve Goldman, Power-One's chief executive. "In addition, we believe that our selection is recognition that Power-One is an industry leader." Power-One manufactures products primarily for the communications industry.
BUSINESS
March 30, 2000 | From Times wire reports
Fifteen major U.S. utilities--including California utilities Edison International, Sempra Energy and PG&E Corp.--said Wednesday that they are plugging into the hot online trend of forming an Internet-based business-to-business marketplace. The utilities said they are teaming to form a procurement exchange that is expected to cut purchasing costs while providing the owners with a profit.
BUSINESS
March 24, 1999 | From Bloomberg News
Edison International, California's second-largest utility, agreed Tuesday to buy 16 Illinois power plants for $4.8 billion in cash to expand into the Midwest. The purchase from Unicom Corp., owner of Chicago's dominant utility, would give Edison's generating unit plants that can produce enough power to light 9.8 million homes. Edison's Southern California Edison unit has 4.3 million customers. Unicom is selling the plants to prepare for deregulation in Illinois.
BUSINESS
August 16, 1997 | From Times Wire Services
Delta Air Lines on Friday stepped outside its own family to name Midwest utility executive Leo F. Mullin as its new president and chief executive. Mullin, 54, was introduced at a news conference in Atlanta along with Gerald Grinstein, a Delta director and former Western Airlines chief executive who was named non-executive chairman of the board, and Maurice Worth, a longtime Delta executive who was named chief operating officer. Mullin and Grinstein will succeed Ronald W.
NEWS
August 14, 1999 | From Times Wire Services
Commonwealth Edison had restored electricity to Chicago's central business district by Friday, but small outages continued to plague the city as Mayor Richard M. Daley considered what action to take against the utility for Thursday's major blackout. The company responded to the latest outage by announcing the resignation of its executive in charge of distribution and hiring an outside contractor to examine its system.
NEWS
February 18, 1996 | RICHARD LORANT, ASSOCIATED PRESS
Back around the turn of the century, they air-conditioned theaters by fanning air across giant blocks of winter ice that had been stored underground until the summer. Now ice conditioning--the high-tech variety--is back, and its promoters say it will save energy and help phase out ozone-depleting chemicals. Office buildings in Chicago's Loop already are cooled by a central plant filled with 5 million pounds of giant ice cubes. Boston is next.
BUSINESS
November 18, 1999 | NANCY RIVERA BROOKS, TIMES STAFF WRITER
Southern California Edison said Wednesday that it is auctioning its majority interest in the giant Mohave Generating Station in Laughlin, Nev., which serves about one in seven of its household customers. The Rosemead-based utility, a subsidiary of Edison International, is accepting bids on the coal-fired power plant as part of the continuing overhaul of the California electricity industry.
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