Progress Energy.
RALEIGH Raleigh (rôl`ē, räl`ē), city (1990 pop. 207,951), state capital, and seat of Wake co., central N.C.; the site was selected for the capital in 1788, and the city was laid out and inc. 1792. -- Progress Energy agreed to sell its Progress Rail
Services subsidiary for $405 million to J.P. Morgan Morgan, American family of financiers and philanthropists.
Junius Spencer Morgan, 1813–90, b. West Springfield, Mass., prospered at investment banking. Chase. Proceeds will
be used to pay debt. The deal is expected to reduce earnings per
share--$3.13 in 2004--by 19 cents in 2005 and 12 cents in the years that
follow.
COPYRIGHT 2005 Business North Carolina
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2005 Gale, Cengage Learning. All rights reserved.
|
Printer friendly
Cite/link
Email
Feedback
Reader Opinion