Word: electricizers
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For the first time in 11 years and 400 deals, the European Union's trustbusters have slammed the gates shut on a merger of two American companies approved by American regulators, vetoing a proposed $43 billion purchase of Honeywell by General Electric by a unanimous 20-0 vote.
Weird, huh? Not in the age of globalization--for that, in effect, is what the General Electric Co., United Technologies Corp. and Honeywell International Inc. have just done. Last year GE outbid UTC for Honeywell; American antitrust authorities approved the merger. But--though the game isn't over--the deal...
DIED. JOHN LEE HOOKER, 83, Mississippi Delta bluesman whose impassioned, resonant voice and urgent electric-guitar riffs influenced modern rock 'n' roll and inspired such musicians as Van Morrison, the Rolling Stones and Eric Clapton; in Los Altos, Calif. The son of a sharecropper and one of 11 children, Hooker...
Such stopgaps are needed because the aging transmission lines that link U.S. regions make it difficult to move power swiftly to where it is needed. "If energy is the lifeblood [of the economy], transmission is the arteries and the veins," says Thomas Kuhn, president of the Edison Electric Institute, which...
That could be particularly hard on California, where consumers and companies are bracing for a summer of blackouts, thanks to the Golden State's famously botched deregulation plan. California produces 13% of the U.S. GDP and could become a national crisis all by itself if energy woes drag it into...