Cent to electric purgatory: Debt cuts woman’s power
Flint, Mich. – It was just a penny, but to Consumers Energy it was enough to cut off power in a local home.
Jacqueline Williams, 41, had an electricity bill of $1,662.08 and paid all of it, except for one cent. That wasn’t enough for the power company, which blacked her out for seven hours Wednesday.
The CMS Energy Corp. subsidiary told Williams the power would not be turned on until the penny was received.
“I went down there, paid my penny and got a receipt,” Williams said. Shortly after, the electricity was turned back on.
“All of this for one penny,” said Williams, who went to the state Department of Human Services for help in April and was told the agency would pay most of the bill.
But she was still short more than $500. Williams, a Social Security recipient, went to the Salvation Army, where she received $430.67, and Consumers agreed to match $430.66 toward the bill.
However, she was still one cent short.
Consumers Energy spokesman Terry DeDoes said the utility had no choice in the matter, though he was not aware of any similar incidents where service was stopped for one cent. The company has many programs to help people who fall behind in their utility bills, he said.
DENVER
ProLogis gets partner for 2 industrial parks
ProLogis is taking on a joint-venture partner to help with development of two Denver industrial parks.
New Jersey-based Prudential Real Estate Investors has purchased a 50 percent interest in ProLogis Park 70, a 159-acre industrial park at Interstate 70 and E-470 in Aurora. Prudential also acquired a 50 percent interest in the 290-acre EastGate property at the same intersection.
Prudential is investing $40 million in the venture, under which the companies will jointly develop buildings at the two sites over the next 10 years.
LAKEWOOD
Casinos’ revenues
in April up over 2005
Colorado’s mountain casinos posted a 5.8 percent increase in revenues in April, according to data released Wednesday.
The state’s 46 casinos reported adjusted gross proceeds – which is total wagers minus payouts – of $65.8 million in April, up from $62.2 million in April 2005. Black Hawk’s 21 casinos posted AGP of $47.9 million, Cripple Creek’s 19 casinos had $12.3 million, and Central City’s six casinos had $5.6 million.
DENVER
Latina Chamber seeks executive director
The Latina Chamber in Denver is searching for an executive director, the first to hold that position. Founded in August 2004, the group has been run by its board of directors.
“We’re ready to hire an executive director to take on the day-to-day operations and help increase our membership,” said founder and board chair Monica Pleiman. Applications are due May 31.
DOUGLAS COUNTY
Starz signs deal with Hollywood film fest
Starz Entertainment Group announced Wednesday that it has signed a multiyear sponsorship with the Hollywood Film Festival, which includes being the presenting sponsor of this year’s festival.
Starz has been associated with the festival since 2004 and will host the festival’s closing party after the Hollywood Awards ceremony. This year’s festival runs Oct. 17-23.
WASHINGTON
Sports network frets over Adelphia sale
A regional sports network owned by Baltimore Orioles owner Peter Angelos urged federal regulators to reject or place conditions on the sale of Greenwood Village-based Adelphia Communications Corp. to Comcast Corp. and Time Warner Inc.
Angelos’ new Mid-Atlantic Sports Network said Comcast’s refusal to air Washington Nationals baseball games shows the No. 1 U.S. cable-television company would use Adelphia’s assets to harm competitors.
WASHINGTON
With rising gasoline supply, oil prices fall
Oil prices fell below $69 a barrel Wednesday after government data showed the domestic supply of gasoline rising for the third straight week amid stagnating demand.
Lending to the weakness in oil prices was a monthly report from the Organization of Petroleum Exporting Countries, which slightly reduced its demand forecast for 2006 and predicted that the world’s crude-oil supply cushion would rise significantly by the end of the year.
KANSAS CITY, Kan.
Saturn displays new sleek, midsize Aura
Saturn showed off its sleek new mid-size Aura on Wednesday, with company officials saying they hope its European-inspired design will entice customers back to the brand for General Motors Corp., which has been fighting slumping sales in the U.S.
The Aura sedan is being built at GM’s Fairfax plant in Kansas City, Kan., and Saturn hopes to have the cars on sales lots by July 24. Prices have not yet been announced.
PALO ALTO, Calif.
HP to close 84 data centers worldwide
Hewlett-Packard Co., the world’s second-largest personal-computer maker, will close 84 data centers worldwide as part of a plan by chief executive Mark Hurd to save $1 billion.
The company will expand an existing center in Houston and build five larger offices in the U.S. to manage and store Hewlett-Packard’s information such as e-mails and business records, Palo Alto, Calif.-based Hewlett-Packard said Wednesday. A spokesman wouldn’t say how many jobs will be cut.
ZUG, Switzerland
Xstrata initiates bid for Falconbridge Ltd.
Mining company Xstrata PLC launched a $14.5 billion bid Wednesday to take over Falconbridge Ltd., topping an offer for the company from Canadian nickel miner Inco Ltd.
Xstrata proposed to pay $47.19 per Falconbridge share for the 80.2 percent stake in the Canadian mining company that it doesn’t already own.
The bid values Falconbridge at $18 billion.
MIAMI
Burger King prices first IPO at high end
Burger King’s parent company priced its initial public offering at $17 per share Wednesday, the day before the No. 2 hamburger chain’s stock was set to trade for the first time.
Burger King Holdings Inc. said the company plans to offer 25 million shares, and its expected stock price was at the high end of the $15 to $17 range it had estimated earlier this month. The company expects to receive approximately $393 million from the offering.
