The Tennessee Valley Authority said it will cut its use of coal-fired electrical generation by about half of current levels, shuttering some units and converting others to burn natural gas to meet tighter emission-control regulations.
Potash Corp. of Saskatchewan Inc. has the best chance in seven years of taking over Soc. Quimica & Minera de Chile SA as a stock slump and trading probe threaten to loosen the chairman’s grip on the fertilizer maker.
Bill Johnson, the man who was chief executive officer of Duke Energy Corp. for hours after its $17.8 billion takeover of Progress Energy Inc., said he was fired after Duke had “buyer’s remorse” about the deal.
HJ Heinz Co.’s longtime leader Bill Johnson stood in the Veranda ballroom at the Four Seasons Hotel San Francisco, addressing the ketchup maker’s top 50 executives for the last time. Around the corner in a smaller room, his successor as chief executive officer, Bernardo Hees, waited to tell some of the same managers whether they still had jobs.
H.J. Heinz Co. Chief Executive Officer Bill Johnson could receive more than $200 million should he exit after Warren Buffett’s Berkshire Hathaway Inc. and Jorge Paulo Lemann’s 3G Capital Inc. buy the ketchup maker.
Duke Energy Corp.’s ousted Chief Executive Officer Bill Johnson offered rare insight into the strains that can occur in multibillion-dollar takeovers in testimony at a hearing before North Carolina regulators yesterday.
The port of Miami, the world’s largest cruise-ship hub, is selling a record $389 million of debt to boost its cargo business as the Panama Canal expands. Investors are balking, as the plan would triple the facility’s bond load in four years.
Progress Energy Inc. Chief Executive Officer Bill Johnson was a ‘terrific communicator’ and not the autocrat Duke Energy Corp. CEO James Rogers described in a hearing on why Johnson was ousted from the combined company’s leadership, former Progress Energy director John Mullin III said.