Frontlines
Frontlines
Wall Street wants utilities to return to basics, but the CEOs worry it won't be enough.
One can certainly understand why so many utility chiefs steered their companies back to basics over the past two years. They read the newspapers. They knew what the financial community was saying. Investors and debt-rating agencies might have overreacted, I suppose. Some on Wall Street seem to think so. Not all utilities should have been downgraded or downsized, they argue. Not all business plans were suspect.