International Business News - WR http://www.ibtimes.com All articles are copyrighted by IBTimes.com 400 100 http://www.ibtimes.com/ http://www.ibtimes.com/images/top_logo_ibt2_3.gif The number of Americans whose electricity or gas has been shut off for nonpayment of their bills is up sharply in many parts of the country as people struggle to cope with higher prices and a shaky economy. http://www.ibtimes.com/data/articleimgs/146222-utility-shut-offs.jpg http://www.ibtimes.com/articles/20081006/ap-enterprise-in-bad-economy-power-cutoffs-soar.htm http://www.ibtimes.com/articles/20081006/ap-enterprise-in-bad-economy-power-cutoffs-soar.htm Mon, 06 Oct 2008 14:36:02 EDT Two of Westar Energy Inc.'s adversaries agree the electric company needs to raise its rates significantly, but they are proposing smaller increases than the utility wants. http://www.ibtimes.com/articles/20080930/westar-faces-rival-rate-proposals-from-adversaries.htm Tue, 30 Sep 2008 17:51:46 EDT Former Westar Energy CEO David Wittig loses another round in his fight to avoid returning to prison over a 2003 bank fraud conviction. In June, a three-judge panel of the 10th U.S. Court of Appeals in Denver upheld a 24-month sentence for Wittig. http://www.ibtimes.com/articles/20080918/kan-court-rejects-review-of-wittig-sentence.htm Thu, 18 Sep 2008 15:58:14 EDT Regulated utilities remain an attractive investment in a low-interest rate environment given expected net income growth of up to 9 percent, a Goldman Sachs analyst said Tuesday. http://www.ibtimes.com/articles/20080916/ahead-of-the-bell-regulated-utilities.htm Tue, 16 Sep 2008 08:31:02 EDT Residents say that a rate increase request by Westar Energy Inc. would be a burden on poor customers who already are struggling to pay their bills. The Kansas Corporation Commission heard concerns Wednesday night from around 100 people about Westar's request for $178 million in electricity rate increases. The utility says the increase is needed to cover investments in power plants and the cost of repairs to its infrastructure after the December 2007 ice storm. http://www.ibtimes.com/articles/20080904/kansas-panel-hears-residents-on-westar-rates.htm Thu, 04 Sep 2008 14:32:09 EDT The third federal criminal trial of two former Westar Energy Inc. executives, set to begin Sept. 9, will likely be postponed as court officials await the outcome of a pending appeal. http://www.ibtimes.com/articles/20080819/trial-of-former-westar-energy-execs-likely-delayed.htm Tue, 19 Aug 2008 07:54:07 EDT Among the earnings stories for Friday, Aug. 8, from AP Financial News: WASHINGTON (AP)--Gold-mining company Iamgold Corp. said Friday it swung to a profit in the second quarter, on stronger production and higher selling prices. http://www.ibtimes.com/articles/20080808/earnings-roundup-iamgold-public-storage.htm Fri, 08 Aug 2008 15:11:11 EDT Among the earnings projection stories for Friday, Aug. 8, from AP Financial News: LOUISVILLE, Ky. (AP)--ResCare Inc., which provides residential, training and support services to people with physical and mental disabilities, forecast a profit for the second half of 2008 that was below analyst expectations. http://www.ibtimes.com/articles/20080808/outlook-roundup-rescare-westar-energy.htm Fri, 08 Aug 2008 14:51:47 EDT Electric utility Westar Energy Inc. reaffirmed its 2008 earnings guidance Friday to a range that includes Wall Street's expectation. For fiscal 2008, Westar expects to earn $1.50 to $1.65 per share "with a bias toward the low end of the range." The guidance excludes a one-time tax benefit from the first quarter. http://www.ibtimes.com/articles/20080808/westar-energy-reaffirms-2008-earnings-guidance.htm Fri, 08 Aug 2008 10:46:17 EDT Westar Energy Inc. said Friday its second-quarter profit dropped 83 percent due primarily to maintenance outages at lower-cost power plants. For the period ended June 30, the electric utility reported $5.6 million in earnings available for common stockholders, or 6 cents per share, compared with $32.5 million, or 36 cents per share, in the year-ago period. http://www.ibtimes.com/articles/20080808/westar-energy-2q-earnings-sink-83-percent.htm Fri, 08 Aug 2008 10:45:00 EDT A unit of W. R. Grace & Co. said Friday it will raise its prices on several products to offset higher raw material and energy costs. Grace Construction Products said effective Aug. 15 it will increase prices up to 10 percent on its concrete and masonry admixture products, and will raise the prices on some specialty products even more. http://www.ibtimes.com/articles/20080801/grace-construction-to-raise-prices-to-offset-costs.htm Fri, 01 Aug 2008 09:42:50 EDT W.R. Berkley Corp. Tuesday announced that its board of directors has authorized a buyback of up to 10 million shares of common stock. A repurchase of that size represents about 6 percent of the company's outstanding shares as of June 30. http://www.ibtimes.com/articles/20080729/w-r-berkley-corp-approves-stock-buyback-plan.htm Tue, 29 Jul 2008 17:22:19 EDT Lawyers for two former Westar Energy Inc. executives asked a federal judge to dismiss the remaining criminal counts against their clients. The defense attorneys for former Chief Executive David Wittig and former chief strategy officer Douglas Lake on Monday argued before U.S. District Judge Julie Robinson that an appellate court ruling last year effectively prohibited prosecutors from using evidence necessary to charge the two men. http://www.ibtimes.com/articles/20080722/ex-westar-execs-seek-dismissal-of-remaining-counts.htm Tue, 22 Jul 2008 11:18:01 EDT Kansas regulators have scheduled hearings on a proposal from Westar Energy Inc. for a 15 percent increase in electric rates. The Kansas Corporation Commission has scheduled hearings for Sept. 2-4 in Salina, Topeka and Wichita to take public testimony. http://www.ibtimes.com/articles/20080716/kansas-hearings-set-on-westar-rate-proposal.htm Wed, 16 Jul 2008 15:16:11 EDT OGE Energy Corp.'s Oklahoma Gas and Electric said Tuesday it will work with a joint-venture of American Electric Power Company Inc. and MidAmerican Energy Holdings Co. to build a 765-kilovolt transmission system in western Oklahoma. http://www.ibtimes.com/articles/20080716/oge-energy-joins-venture-to-build-power-network.htm Wed, 16 Jul 2008 08:20:54 EDT A Shawnee County judge on Tuesday agreed that Westar Energy Inc. must reimburse former Chief Executive David Wittig for legal fees in his ongoing criminal case, but awarded much less than what Wittig was seeking. http://www.ibtimes.com/articles/20080715/judge-westar-must-pay-former-ceo-wittig-1-67m.htm Tue, 15 Jul 2008 18:22:11 EDT A former Westar Energy Inc. executive is trying to invalidate an appeals court decision that could send him back to prison. Attorneys for David Wittig, the Topeka-based utility's former chief executive officer, this week asked the 10th U.S. Circuit Court of Appeals to rehear his appeal of a 24-month prison sentence for bank fraud. http://www.ibtimes.com/articles/20080703/ex-westar-ceo-appeals-decision-upholding-sentence.htm Thu, 03 Jul 2008 13:16:23 EDT Westar Energy, Inc. will break ground Tuesday on a new wind farm project in Barber County, south of Wichita. The Flat Ridge Wind Farm is a 100-megawatt project being developed by BP Alternative Energy North. Westar will own half of the wind farm and purchase energy from the remaining half. The project is expected to be operational by the end of 2008. http://www.ibtimes.com/articles/20080623/westar-bp-affiliate-to-build-kan-wind-farm.htm Mon, 23 Jun 2008 14:12:57 EDT The Supreme Court on Monday rejected an appeal by W.R. Grace & Co. in a criminal case brought by the government over the company's alleged release of asbestos from a Montana mine. http://www.ibtimes.com/articles/20080623/supreme-court-rejects-w-r-grace-asbestos-appeal.htm Mon, 23 Jun 2008 15:42:04 EDT A federal appeals court on Tuesday upheld a 24-month prison sentence for a former Westar Energy Inc. executive convicted in 2003 of bank fraud. It was the third time the 10th U.S. Circuit Court of Appeals had considered the sentence against David Wittig, former chief executive of the Topeka-based utility. The three-judge panel based in Denver had earlier rejected sentences of 51 and 60 months as too harsh. http://www.ibtimes.com/articles/20080617/appeals-court-upholds-prison-sentence-for-wittig.htm Tue, 17 Jun 2008 19:15:40 EDT