| Meet John Bitove
It is 9:15 on a snowy Monday night and John Bitove has spent the entire day in meetings. Now liberated, he arrives in the hotel lounge full of vigour. But his mood quickly deflates. "Ohhhh," he groans as he scans the room. "Should've gone to Hoops." He is standing in the bar of the Fairmont Ch�teau Laurier, a polished staging ground for Old Ottawa power, a haunt of ministers and mandarins. Which is to say, it's as comfortable as an old shoe to Bitove. But he wants none of it tonight. The only prime ministers at Hoops are stuffed inside the cash register, but the place is guaranteed to be showing the basketball game. The two TVs behind the bar here at the Ch�teau look as though they haven't seen action since Trudeau. "This is fine," Bitove decides regretfully, as he settles himself at a table with his back to the bar.
Fitch Affirms PPL s IDR at BBB ; Lowers Electric Utilities Preferred (3º)
Stock to BBB 20/03/2008 14:43:00 Business Wire costs.
The inability to fully recover power supply costs would, in all likelihood, have an adverse affect on ratings.
Current ratings assume the cost of procuring power to meet PPLEU s POLR obligations after 2009 will be passed through to customers.
Holders of PPLEU s senior secured bonds also benefit from a package of structural enhancements and bond covenants that further reduce financial risk.
The bond covenants restrict dividend payments to the parent if cash from operations interest coverage falls below 1.5 times (x), and limits the issuance of new debt or a merger if either would result in a ratings downgrade.
Other structural enhancements include amendments to the Articles of Incorporation and By-Laws that effectively separate the accounts and assets of PPLEU from its parent PPL Corp.
world revolution or war: China, India, US, Russia: global competition, finance, law, jobs
The sudden surge of China, India, Africa and Latin America! Whose 21st century is it? Is a new global war coming? What is the next in world finance, outsourcing, labor, trade, politics, leadership? 3 global educators George Zhibin Gu, Chalmers Johnson, and Andre Gunder Frank talk about global development in the next stage. The China and India Factor and the Overstretch of the US Hegemony in the 21st century: opportunities, challenges, conflicts and development 4 books that can change your mind in 2007 about the geo-politic and geo-economic dynamics going on Interviews by Jorge Nascimento Rodrigues, editor of Gurus online. tv George Zhibin Gu, author of 2 new books, "China's Global Reach", and "China and the new world order" Chalmers Johnson, author of "The Sorrows of Empire" Andr� Gunder Frank, author of the forthcoming "ReOrient the Nineteenth Century" (a sequel of his 1998's "ReOrient") FIRST STORY A view from an insider George Zhibin Gu CHINA IS BECOMING A GLOBAL THEATER "A new power balance will emerge gradually and most likely indirectly" INTERVIEW First idea: "Today, most Chinese would prefer to be the one just following the leader.
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