Pedernales to Seek $8.8 Million in Restitution from Bennie Fuelberg
Posted on Jan 18, 2011 in Corporate Governance, Litigation | Comments Off on Pedernales to Seek $8.8 Million in Restitution from Bennie Fuelberg
The Statesman reports that Pedernales Electric Cooperative will seek to recover $8.8 million from Bennie Fuelberg, its former general manager who was recently convicted of felony theft and money laundering.
Atlanta Journal-Constitution Reports on Challenges to Georgia Coops
Posted on Jan 16, 2011 in Corporate Governance, Litigation | Comments Off on Atlanta Journal-Constitution Reports on Challenges to Georgia Coops
The Atlanta Journal-Constitution reports on the fall-out from the indictment of Cobb EMC head Dwight Brown, and efforts by advocacy groups to clarify access to Georgia cooperatives’ records and member lists during elections, among other proposals.
Kansas Coop Considers Office Closings in Bid to Save $1 Million Annually
Posted on Jan 13, 2011 in Corporate Governance, Financing, Legislative & Politics | Comments Off on Kansas Coop Considers Office Closings in Bid to Save $1 Million Annually
Rolling Hills Electric Cooperative (Kansas) has proposed closing offices in three towns, and building a central office in another town, in order to save $1 million annually. The Salina Journal has the details.
Atlanta Journal-Constitution: Cobb EMC CEO Dwight Brown Indicted on 31 Counts of Racketeering and Theft
Posted on Jan 7, 2011 in Corporate Governance, Litigation | Comments Off on Atlanta Journal-Constitution: Cobb EMC CEO Dwight Brown Indicted on 31 Counts of Racketeering and Theft
Dwight Brown’s attorney, Craig Gillen, states that he is innocent of all charges. The article is here.
Proposal to Convert Montana Utility Into a Cooperative
Posted on Jan 4, 2011 in Corporate Governance, Financing, Legislative & Politics | Comments Off on Proposal to Convert Montana Utility Into a Cooperative
The Great Falls Tribune reports on the proposal by Southern Montana Electric G&T to convert Electric City Power, Great Fall’s money-losing utility, into a customer-owned cooperative.
The Weekly Observer Has Details on Santee Electric Lawsuit
Posted on Jan 3, 2011 in Corporate Governance, Derivative Suits, Litigation, Patronage Capital | Comments Off on The Weekly Observer Has Details on Santee Electric Lawsuit
The Weekly Observer (South Carolina) has a report on the origins of the lawsuit against Santee Electric Cooperative, including the role of an IRS form made available on the internet. The lawsuit against Santee by its members involves allegations of corporate mismanagement and a failure to return capital credits.
New Electric Coop Forming in Alaska
Posted on Jan 3, 2011 in Corporate Governance, Mergers/Acquisitions | Comments Off on New Electric Coop Forming in Alaska
The new electric coop will be called the Alaska Railbelt Cooperative Transmission and Energy Company. It is a combination of five utilities: Chugach, Matanuska, Homer, Seward, and Golden Valley electric associations. Additional details are here.
Kit Carson Electric Cooperative Seeks to Invalidate Most Rate Protests
Posted on Dec 29, 2010 in Corporate Governance, Rates, Regulation & Policy | Comments Off on Kit Carson Electric Cooperative Seeks to Invalidate Most Rate Protests
The Taos News reports on efforts by Kit Carson Electric Cooperative to invalidate all but 12 protests against a proposed $4.3 million rate hike. A formal review of the rate increase by the New Mexico commission requires at least 25 valid protests.
Pedernales Board Adopts Policy to Distribute Capital Credits; Members React
Posted on Dec 28, 2010 in Corporate Governance, Patronage Capital | Comments Off on Pedernales Board Adopts Policy to Distribute Capital Credits; Members React
Highland Lakes Newspaper has a short article on member reaction to Pedernales’ recent decision to distribute capital credits.
Pedernales Board and Members React to Fuelberg’s Conviction
Posted on Dec 21, 2010 in Corporate Governance, Litigation | Comments Off on Pedernales Board and Members React to Fuelberg’s Conviction
The Statesman and San Antonio Express-News have separate reports on the reactions to the recent conviction of Pedernales’ former General Manager Bennie Fuelberg.
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