CenterPoint Energy to sell natural gas retail business for $400m

first_imgCenterPoint Energy will use the net proceeds of the deal to repay a portion of its debt CenterPoint Energy to sell CenterPoint Energy Services to Energy Capital Partners. (Credit: Pixabay/Gerd Altmann) US-based electric and natural gas utility company, CenterPoint Energy has agreed to sell CenterPoint Energy Services (CES), a natural gas retail business to Energy Capital Partners (ECP) for about $400m.Headquartered in Houston, CES has around 300 employees. The company provides natural gas sales, storage, supply, and other energy-related solutions to about 30,000 commercial and industrial customers, utilities and cities in more than 30 states.As part of the deal, CES will sign a structured long-term Preferred Supply agreement, where Shell Energy North America (SENA) will deliver gas supply, collateral support and receive equity warrants.CenterPoint Energy interim president and CEO John W. Somerhalder II said: “The sale of our gas retail business further positions CenterPoint Energy to focus on the long-term performance of our core electric and natural gas utility businesses.“At the same time, this sale will strengthen our balance sheet and improve our business risk profile.“When combined with our recent agreement to sell Miller Pipeline and Minnesota Limited, two businesses that comprised our infrastructure services segment, we expect our utility earnings contribution to approach 90% over the next several years.”CenterPoint Energy to use sale proceeds to reduce debtCenterPoint Energy said that it will use the net proceeds of the deal to repay a portion of its debt.Subjected to the satisfaction of closing conditions, which include the expiration or termination of the Hart-Scott-Rodino waiting period, the deal is expected to be completed in the second quarter of this year.For the deal, Goldman Sachs & Co is acting as exclusive financial advisor to CenterPoint Energy, while Akin Gump Strauss Hauer & Feld is serving as its legal counsel.Earlier this month, CenterPoint Energy has agreed to sell Miller Pipeline and Minnesota to PowerTeam Services for $850m.The Miller Pipeline and Minnesota are claimed to be the two of the premier natural gas distribution and transmission pipeline contractors in the US and provide services to customers in 35 states.last_img read more

Oteil, T-Ham, Melvin Seals, Duane Trucks, More Announce Two-Night Jerry Garcia Birthday Celebration

first_imgJerry Garcia would be turning 76 years old on August 1st. His birthday is more worthy of celebration than ever, so, on August 17th and 18th, the Jerry Garcia Birthday Band will get together for two nights in Vail. Following last year’s 75th birthday celebration at Red Rocks, the tradition will continue with longtime Jerry Garcia Band members Melvin Seals, Jacklyn LaBranch, and Gloria Jones with their musical co-conspirators and friends, Oteil Burbridge (Dead & Company), Tom Hamilton (Joe Russo’s Almost Dead), and Duane Trucks (Widespread Panic).Returning to under the stars in Colorado, the Jerry Garcia Birthday celebration will take place at the Gerald R. Ford Amphitheater, a spectacular outdoor venue with stunning views of the Rocky Mountains. The special two-night birthday run also coincides with the annual Colorado Classic, a circuit race for elite cyclists.A limited number of two-day and single day tickets will be available via the Jerry Garcia Fan Ticketing page beginning at 8 a.m. MT on Monday, June 4th. An Enhanced Experience option, which includes a pre-show gathering, photo with members of the Garcia Family, and a limited-edition screen print by Status Serigraph, will also be available. General on-sale begins at 10 a.m. MT on Friday, June 8th, via AXS.com. For more information, head to the event’s website.last_img read more

Harsh Penalties for both Greece and BiH for Incidents on the Match

first_imgThe match between BiH and Greece, which was played in Athens, was marked by a dramatic draw 1: 1 and the loss of two points and a series of incidents, and the peak of the night was the banner: “Knife, Wire, Srebrenica”. A little later was raised the flag of Serbia as well.Representatives of the Football Association of BiH intervened immediately at the break where they drew attention to the nationalist and racist writings of Greek fans.The penalty, which will follow for the Greek Football Association will not be small because the main motto that UEFA propagated for years is “No to racism.”A source from the Football Association of BiH said that Greek politicians who attended the match tried to explain to our representatives that there were people from Serbia, but they received a clear answer:“You from Europe should not remind us on our wounds that hurt us, because just when the situation in BiH calms down, someone from Europe reminds us again.Besides the great failure of the organizers who allowed a large number of pyrotechnic means and because of the irresponsibility of individuals, BiH will also pay a penalty which shall not be less than 50,000 CHF.Fans ignited the torches followed after the goal by Miralem Pjanic, and the match was stopped for several minutes.Although many people will say that it is the failure of the organizers and that they should bear the blame, it is well known that UEFA has no mercy and that BiH will also pay the price of burning the torches in the stadium.(Source: nap.ba)last_img read more

Auditor states Hamlin has done nothing wrong except with healthcare payment withholdings

first_img Close Forgot password? Please put in your email: Send me my password! Close message Login This blog post All blog posts Subscribe to this blog post’s comments through… RSS Feed Subscribe via email Subscribe Subscribe to this blog’s comments through… RSS Feed Subscribe via email Subscribe Follow the discussion Comments (18) Logging you in… Close Login to IntenseDebate Or create an account Username or Email: Password: Forgot login? Cancel Login Close WordPress.com Username or Email: Password: Lost your password? Cancel Login Dashboard | Edit profile | Logout Logged in as Admin Options Disable comments for this page Save Settings Sort by: Date Rating Last Activity Loading comments… Commenting Disabled Further commenting on this page has been disabled by the blog admin. You are about to flag this comment as being inappropriate. Please explain why you are flagging this comment in the text box below and submit your report. The blog admin will be notified. Thank you for your input. +6 Vote up Vote down WellMom · 274 weeks ago Hopefully this puts an end to this whole debacle that has been going on down there and everyone can move forward. I agree, after reading just what was being said in the comments section here, Hamlin should receive an apology. Report Reply 0 replies · active 274 weeks ago -6 Vote up Vote down Mel · 274 weeks ago Why should the Board apologize to Hamlin? The auditor confirmed yesterday that $6,788 in US Federal Funds were spent on health Insurance for employee spouses of the Wheat Capitol Manor that was not authorized by WHA Board. Hamlin and her supporters consistently stated for the last 6 months that she did NOTHING WRONG and that the WHA Audit would find NO financial problems at the Wheat Capitol Manor. Report Reply 0 replies · active 274 weeks ago +1 Vote up Vote down SuCo Pride · 274 weeks ago I think Schalk is wrong. Correct me if I’m wrong, but the board at no time issued any sort of public statement, or comment, stating that Hamlin had done anything wrong. That was a result of the rumor mill, and the Jim Valentine side-show. At most, the board should issue a Press Release with the findings of the auditor, addressing how the issue related to the cost of insurance will be corrected. Nothing more is necessary in my opinion. Report Reply 0 replies · active 274 weeks ago +7 Vote up Vote down resident2014 85p · 274 weeks ago Public apology? I don’t think so. Almost a $7,000 “mistake”, questions concerning nepotism and whether or not a chairman of a board can sign a Housing Authority contract; the financial polices concerning Hamlin’s use of internet, K-Tags, cell phones and excessive mileage; and whether payroll taxes were properly withheld from a contract employee in 2012 and 2013. I believe these were issues the previous board was attempting to address when the residents of the manor were either purposely or inadvertently used to rally support for the Administrator. Most businesses will fire or discipline an employee for excessive mileage, unapproved internet use and company provided cell phone abuse. Are taxpayers providing a personal cell phone and a K-Tag? I hope the new Board Members are not reluctant to ask the hard questions in the future and change the suspect “policies” noted above after the treatment given to previous board members. It sounds to me like the previous board was just doing the job they were there to do. Also, I believe failure to withhold taxes is unlawful. None of this means that she needs to be fired, but it looks to me like the previous board was again, doing their job in questioning these issues. Maybe the previous board members who were attempting to do what they were asked to do (oversee) need to receive an apology? (The Manor is well-kept, the residents seem to be very happy with their administrator, it just appears policies need to be reviewed and updated. I am glad to see the air cleared on this subject so the Administrator and Staff can continue to perform their jobs and we can move on. And let us hope all the silly talk about lawsuits can stop right here. I don’t like it that a threat of a lawsuit can have board members removed for asking the hard questions.) Let’s move forward with improved policies and put this behind us. Report Reply 0 replies · active 274 weeks ago +2 Vote up Vote down Candy · 274 weeks ago Warren clearly stated it was NOT a violation on Federal Nepotism policies for Tim Nance the spouse of a Wheat Capitol Manor Employee to do contractual work at the Wheat Capitol Manor. I was at the meeting yesterday and I was shocked to learn what Hamlin authorized Mr Nance be paid to remove a bush and tear down a fence in 2014. It was still unethical to hire an employees spouse to do this contractual work at the Wheat Capital Manor even if it was not a violation of any Federal Policy. Report Reply 2 replies · active 274 weeks ago +2 Vote up Vote down Candy · 274 weeks ago I understand that no Federal Policies were being violated by Hamlin for the following items paid for her by the Wheat Capitol Manor. I just challenge anyone to name any government employee that has government funds used to pay for their internet at home, pay for their Personal Cell Phone and pay for their Kansas Turnpike Fes to commute from home and back to work Report Reply 2 replies · active 274 weeks ago +4 Vote up Vote down tooooofunny · 274 weeks ago So where is Kelly McComb and her comments now? Bluesfield? Anyone want to talk about how “crooked” mileage is? Anyone want to throw Tim Nance, who happens to be the nicest man EVER, under the bus anymore? Come on maybe Gary wants to speak up about something? I personally believe that there needs to be an apology letter written to Hamlin, Tim Nance, the staff and the tenants for all the nonsense they were put through. Report Reply 3 replies · active 274 weeks ago -1 Vote up Vote down wheat · 274 weeks ago The only apology should be from council members Jim Valentine and Jan Korte to the WHA Board Members. The city council meeting and work session minutes confirm many comments by Korte and Valentine in the last 6 months in which they state an audit of Wheat capital Manor finances haved confirmed NOTHING is wrong with the finances at the Wheat Capitol Manor and it is just a personality conflict. I consider $7K Missing as wrong! Report Reply 1 reply · active 274 weeks ago +13 Vote up Vote down Guest · 274 weeks ago Let the new board do their job and review and update the policies in question. Time to move on. Report Reply 0 replies · active 274 weeks ago +11 Vote up Vote down CueballSumnernewscow 94p · 274 weeks ago I thought for being a Wellington Housing Authority discussion, this was very civil. However, the there’s a hint of it digressing into something worse, so I’m going to shut off the discussion now. As always if you have something new to bring to the table or respond to something that was said above, e-mail me at [email protected] and I’ll put it on. Report Reply 0 replies · active 274 weeks ago Post a new comment Enter text right here! Comment as a Guest, or login: Login to IntenseDebate Login to WordPress.com Login to Twitter Go back Tweet this comment Connected as (Logout) Email (optional) Not displayed publicly. Name Email Website (optional) Displayed next to your comments. Not displayed publicly. If you have a website, link to it here. Posting anonymously. Tweet this comment Submit Comment Subscribe to None Replies All new comments Comments by IntenseDebate Enter text right here! Reply as a Guest, or login: Login to IntenseDebate Login to WordPress.com Login to Twitter Go back Tweet this comment Connected as (Logout) Email (optional) Not displayed publicly. Name Email Website (optional) Displayed next to your comments. Not displayed publicly. If you have a website, link to it here. Posting anonymously. Tweet this comment Cancel Submit Comment Subscribe to None Replies All new comments by Tracy McCue, Sumner Newscow — In a special meeting held at the Wheat Capital Manor, an auditor told the Wellington Housing Authority board that administrator Melissa Hamlin has done nothing wrong except fail to withhold $6,766 from the 2014 health insurance premiums for the spouses of herself and a former employee.Cynthia Warren, a U.S. Housing and Urban Development auditor from Eufala, Okla., was on hand to answer a list of five questions submitted to her by the board during a special public meeting held at the Manor Thursday afternoon. Warren is currently in the process of doing the WHA’s annual audit and has been doing so for a number of years.Warren stated in 2014, after the authority switched insurance plans from Preferred/Coventry to a State of Kansas Blue Cross Blue Shield insurance policy, Hamlin failed to take out $282.33 a month for the health premiums of her and former maintenance supervisor Gary Irey’s spouses, who are on the WHA company plan. As a benefit since 2010, the authority pays for 100 percent of health insurance premiums of the four full-time employees working at the Manor, but does not do so for spouses or family members, who choose to be part of the company plan. Warren said Hamlin, who is in charge of payroll, should have taken out $3,338 in 2014 from the paychecks of herself and Irey. As a result, Warren said, the WHA has three options to rectify the mistake: 1) collect $3,338 in lost revenue from the two employees; 2) terminate Hamlin; 3) or retroactively approve back to Jan. 1, 2014 100 percent payment of health insurance premiums for the employees of the WHS and their spouses.Warren said whatever the board decides it must treat both employees equally, even though Irey no longer works at the Manor.Warren then said, the withholding issue has been rectified as of Jan. 1, 2015 and the withdrawal is now reflected in recent checks to Hamlin.In 2014, the WHA changed insurance companies from Coventry to Blue Cross after learning the Manor could save $50,000 a year.Hamlin said a misunderstanding occurred during the changeover between her and some members of the board. She thought during a work session, the housing authority told her it would pay 100 percent of the cost of health insurance premium in 2014 since it would still be financially ahead from money paid out in the old insurance plan.Hamlin said, however, part of the board, misinterpreted what she meant and thought the policy should have remained intact where 100 percent of the employees insurance would be paid but spouse insurance would be partially paid.“I would have done nothing on purpose,” Hamlin said.Aside from the health insurance premium issue, Warren said she could not find anything wrong with what Hamlin has done.The board submitted five questions to the board. Aside from the health insurance policy, Warren addressed questions concerning nepotism; whether or not a chairman of a board can sign a Housing Authority contract; the financial polices concerning Hamlin’s use of internet, K-Tags, cell phones and excessive mileage; and whether payroll taxes were properly withheld from a contract employee in 2012 and 2013.In all other cases, Warren said Hamlin operated within WHA and HUD policy guidelines and she could not find any violations.She did urge the board to revisit some of its current policies and perhaps update them in the future.Warren opened the meeting by reaffirming a report by HUD that gave WHA a very positive rating in its last assessment. The authority received a 98 out of a 100.“That is a very, very good score,” Warren said. “That means Wheat Capital Manor is well managed and you are doing a lot of things right. There are many housing authorities that I work with that are receiving scores in the 80s.”She defined the housing authority as a group that is doing things very well but has some kinks it needs to work out.WHA board member Larry Schalk said after the report was given that the board should draft a letter publicly apologizing to Hamlin for the controversial past few months.The WHA will be meeting later this month. No action was taken at Thursday’s meeting.Follow us on Twitter.last_img read more