President's Corner
Remember the fable about the grasshopper and the ant. The ant works
hard storing grain for the winter. The grasshopper fiddles away the day and does not plan
for the future. When winter arrives, the grasshopper, shivering with cold, comes to the
steps of the ant's home, begging for food. The fable's message is clear. Work and thrift
are superior values to enjoyment and living for the moment. A modern cynic's alternative
ending might be that because the workaholic ant spends so little time relaxing, he ends up
in the hospital having a quadruple bypass. The profligate grasshopper benefits from a
combination of global warming and a lucky pull at the boats, and lives a long and happy
life.
Talk about mixed signals. December blares out messages to spend,
spend, and spend some more. The newspapers, television, and radio tempt our eyes and
jingle our ears. Some of us are listening. Credit card debt in this country is at all-time
record levels. According to The Kansas City Star, the average adult visits a mall 3.1
times per month, staying an average of 73 minutes. As a nation we will spend 1.16 trillion
dollars shopping this year. That's $1,160,000,000,000 give or take a few. That's not
necessarily bad news. Our businesses are ultimately dependent upon the health of the
consumer economy. Clearly, those of us in the residential business thrive when housing
starts are up and commercial construction is largely about new schools, new shopping
centers, and new offices that come with the residential development. Even the industrial
segment is ultimately tied to what the consumer spends. Without question things like cars
and agriculture processing have direct customer links and industrial support businesses
such as machine tools and process controls swing with the industries that they support. So
let's hear it for the grasshoppers.
At the same time, December is for many of us a time for planning and
budgeting. We assess the year that is ending and make preparations for the ensuing year.
Next year feels like it will be another strong one on balance, but not an unambiguous
barnburner. As the economy tightens, businesses that are well-prepared will thrive. If the
signs of storm clouds in the economy are accurate, the ants among us will be ready.
I suppose the lesson is that we each need to strike a balance. As the
year winds down, take a few minutes to reflect on what you want to accomplish in your
career. Remember to keep in mind some `grasshopper time' enjoying life. Setting aside time
for yourself and your family and your community can be as enriching as closing the next
deal. However you choose to strike the balance, stay active and involved.
My tenure as President of our Electric League is coming to a close. I
thank you all for your support. We have a great industry in a great community. A special
thanks goes to the staff here. Olivia, Cindy, Mike and the others at the Western
Association, work hard to get all the details right. From the publication of this
newsletter to the timely preparation of the monthly financial statements to the
organization of the golf tournaments, the education classes, the Lighting Awards Banquet
and Holiday Luncheon, they are the infrastructure that makes it all happen.
Best wishes to you and your families for a healthy and prosperous
2001.
Tom Isenberg
President
December 14th Set for Holiday Luncheon
The Electric League will observe its traditional Holiday Luncheon on
Dec. 14th at Harrah's North Kansas City Conference Center. As in the past, the event will
include year-end League business as well as the election of members to the Board of
Directors and the presentation of the Industry Achievement Award. In addition to the
year-end business, an exciting part of the Luncheon is the prize raffle to benefit the
Electric League Foundation. The raffle has been a big success in the past and the Holiday
Luncheon Committee is looking forward to another great event.
The League is asking members to be a part of this year's event by
donating raffle gifts. The donation of company promotional items is discouraged. If you
are able to donate a gift, please contact Olivia or Cindy at the Electric League office.
The Luncheon will also feature a canned and nonperishable food and
household supplies drive. Again this year, the food and household supplies drive will
benefit the Ronald McDonald House. The Ronald McDonald House has indicated their need for
the following food items: baking supplies, boxed dinners (pasta, rice), cake mixes and
frosting, canned meals (Spaghetti-O's, etc), canned soup, cereal, fresh fruit, fruit
juices, mayonnaise/Miracle Whip, salad dressing, and snacks. Canned vegetables are not
needed. Ronald McDonald House also needs household supplies such as paper towels,
dishwasher soap, sponges and SOS pads, trash bags and bleach. Please remember to bring
your items to the Luncheon and be eligible to win a valuable prize.
A Holiday Luncheon reservation form is enclosed; please complete this
form and return it to the Electric League by Dec. 11th.
Nominees
for 2001 Electric League Board of Directors
Executive Committee:
President: Jim Lacy, Electrical Corp. of America
President-Elect: Peter Kurtz, MWE, Inc.
Secretary-Treasurer: Joe Privitera, Mark One Electric
Immediate Past President: Tom Isenberg, Western Extralite Co.
Vice Presidents:
Utilities: Vernon Skripsky, Kansas City Power &
Light
Contractors: Paul Kemp, Midland Electric Co.
Distributors: Terri Seyl, Western Extralite Co
Agents: Bob Lagerstrom, Johnson Electric Sales Co.
Engineers: Tim Scott, Gibbens, Drake & Scott
Manufacturers: John Guerdan, Square D Co.
At Large: John Kelble, Associated Air Products
Board of Directors:
Rick Boswell, Missouri Valley Electric Co.
Doug Carlson, C&O Electric Sales Co.
Fred Denney, Foley Group, Inc.
Joe Dick, Board of Public Utilities
Duff Greenwood, Cleaves-Bessmer-Marietti, Inc.
Chris Hedges, Christopher C. Hedges Co.
Bob Herzig, Bob Herzig & Assoc., Inc.
Gary Hickox, Premier Lighting Co.
Steve Holland, Kornis Electric Supply, Inc.
Mark Hood, Graybar Electric Co.
Ted Horning, CED Rensenhouse Electric
Mark Peterson, Cutler-Hammer, Inc.
George Powell, Board of Public Utilities
Jay Rains, Rains Electrical Sales Co.
Deanna Rudd, Rains Electrical Sales Co.
Mike Scott, Milbank Manufacturing Co.
Steve Tiesing, UtiliCorp United
32nd Annual Lighting
Awards - Recap
The 32nd Annual Lighting Awards Banquet was held November 13 at the
Doubletree Hotel in downtown Kansas City, Missouri. As is the tradition of this event,
some of the finest lighting projects in the metropolitan Kansas City area were recognized
with awards. The top floor of the Doubletree Hotel offered a panoramic view of the
downtown Kansas City skyline and served as a perfect backdrop for the awards presentation.
Lighting Awards Committee Chairperson, Terri Seyl, welcomed guests to
this longest-running Electric League event. Following dinner, awards were presented to the
following projects:
Commercial General Category -
Stowers Institute for Medical Research, entered by Yarnell
Associates
Outdoor Building Category –
Douglas County Jail, entered by W.L. Cassell
& Associates
Commercial Office Category –
Arts Council of Metropolitan Kansas City,
entered by Derek Porter Studio
Institutional Category –
Sacred Heart Parish, entered by Devine deFlon
Yaeger, Inc.
Commercial Merchandise –
Baron BMW, entered by Henderson Engineers
Chairperson Seyl and Lighting Awards Committee Member Mark Hershman
commented on each winning project as slides of the project were shown to the audience.
The Electric League thanks all the judges for this year's awards:
- First and
Second Round - Mark Hershman, Mike Williams, Gary Hickox, Ron Scott, Andria Odrowski,
Dustin Shaw, Vince Migliazzo, Kate Chell, Terri Seyl, Chris Lacy, Julie Pierce, Jim
Withrow, and Dan Sander
- Final Round -
David Boucher, Wachter Electric; John Coulter, Larson-Binkley Associates, Inc.; and Norman
Friedman, HOK Architects.
Thanks to These Lighting Awards Sponsors
Each year the Lighting Awards competition is made possible through
generous sponsorship by Electric League member firms. This year's sponsors include:
Major Benefactor:
- Broadway
Electrical Const., Inc.
Benefactors:
- Bill Scaletty
Associates
- Capital Electric
Co.
- Cleaves-Bessmer-Marietti,
Inc.
- Electrical Corp.
of America
- Kansas City Power
& Light
- NECA
Shaw Electric Co.
- SKC Electric Inc.
Associates:
- Board of Public
Utilities
- Cutler-Hammer,
Inc.
- Foley Group, Inc.
- French Gerleman
- George Butler
Associates, Inc.
- Gibbens Drake
Scott, Inc.
- Henderson
Engineers, Inc.
- Key Lighting
- Mercer-Zimmerman,
Inc.
- Missouri Valley
Electric Co.
- Philips Lighting
- R.F. Fisher
Electric
- Rensenhouse
Electric Supply
- UtiliCorp United
- Western Extralite
Company
- Yarnell Associates
Patrons:
- B.A. Electric
- Bill Andrews
Company
- Bredson &
Associates, Inc.
- Coopersmith
Lighting Agency
- Dean Machinery
- Jay Consulting
Engineers, Inc.
- Johnson Electric
Sales Co.
- Kriz-Davis Co.
- MOK Lighting
Associates, Inc.
- Power Equipment
Sales Co.
- Premier Lighting
RA Sales
- Rains Electrical
Sales, Inc.
Friends:
- C&O Electric
Sales Co.
- Holophane Corp.
- K.C. Electrical
Const. Co.
- MWE, Inc.
- Superior
Electrical Construction
PNM Buys Utility Operations of Western Resources for $1.5 Billion
Public Service Company of New Mexico (PNM) and Western Resources
announced recently that PNM will acquire the Western Resources electric utility operations
in a tax-free, stock-for-stock transaction.
Under the terms of the agreement, PNM and Western Resources, whose
utility operations consist of its KPL division and KGE subsidiary, will both become
subsidiaries of a new holding company to be named at a future date. Prior to the
consummation of this combination, Western Resources will reorganize all of its non-utility
assets, including its 85 percent stake in Protection One and its 45 percent investment in
ONEOK into Westar Industries, which will be spun off to its shareholders.
The new holding company will issue 55 million of its shares, subject
to adjustment, to Western Resources' shareholders and Westar Industries. Before any
adjustments, the new company will have approximately 95 million shares outstanding, of
which approximately 42.1 percent will be owned by former PNM shareholders and 57.9 percent
will be owned by former Western Resources shareholders and Westar Industries. Westar
Industries will receive a portion of such shares in repayment of a $234 million obligation
currently owed by Western Resources to Westar Industries.
Based on PNM's average closing price over the last 10 days of $27.325
per share, the indicated equity value of the transaction is approximately $1.503 billion,
including conversion of the Westar Industries obligation. In addition,the new holding
company will assume approximately $2.939 billion of existing Western Resources' debt,
giving the transaction an aggregate enterprise value of approximately $4.442 billion. The
new holding company will have a total enterprise value of approximately $6.5 billion ($2.6
billion in equity; $3.9 billion in debt and preferred stock). The transaction will be
accounted for as a purchase and is anticipated to be immediately accretive to PNM's
earnings per share and cash flow.
The companies expect the transaction to be completed within the next
12 to 15 months. The new holding company will serve over one million retail electric
customers and 400,000 retail gas customers in New Mexico and Kansas and will have
generating capacity of more than 7,000 megawatts. The transaction also will make the new
company a leading energy supplier in the Western and Midwestern wholesale markets.
The People Column
Nice picture of Paul and Molly Sauder (Milbank) in the November 12th
KC Star's coverage of the BOTAR ball. He sure looks good in a tux! And, retired (R.F.
Fisher) electrician John Cianciolo and his wife, Lottie's picture appeared in the FYI page
on Sunday, November 26th announcing the celebration of their 50th wedding anniversary.
Congratulations!
New faces at new places: Brenda Danner, late of Rains Electrical
Sales, now in Customer Service at Wesco; Chris Ziegler, formerly with Carlton-Bates, now
in Inside Sales at Rains Electrical Sales.
That's all we have for this time.....looking forward to seeing
everyone at the Holiday Luncheon at Harrah's. Best wishes for a happy and healthy holiday
season to all...see you next year.
That's about all for this issue, keep those faxes and e-mails coming
and we'll be glad to print your news.
The
People Column
Fax: 913-383-3003
E-mail: jefer@micro.com
