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Showing 3 articles from March 19, 2009.

FrontPage News

When I received a response from Larry Schumacher, president of Utility Inc. this morning to the AIG story this morning, I posted it verbatim on our homepage right under the account that he disputed. 
Now I am confused. A savvy reader sent me a press release dated May 18, 2005 bearing the headline "AIG HIGHSTAR CAPITAL ANNOUNCES THE ACQUISITION OF UTILITIES, INC. FROM NUON".  The press release sure sounds like AIG thought it bought Utilities, Inc.  
I await Mr. Schumacher's response with breathless anticipation and I welcome his clarification.   
To see a scan of the press release, read on.
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Utilities Inc. Responds to Rate Increase Story
I got a response from Larry Schumacher of Utilities, Inc. about the AIG connection to his company:

 In response to your article "AIG comes to Clinton" I must point out a glaring error. Utilities, Inc. the parent of Water Services of Kentucky, Inc. is NOT a subsidary of AIG. The investor in Utilities, Inc. is Highstar Capital. Yes AIG did make an investment in Highstar Capital and so did approximately 70 other entities. Our investor, Highstar Capital is an independent private equity partnership, of which AIG (and 70 others) has invested money in. Highstar has benefited from an affiliation with AIG and in the earlier days of the fund Highstar even used the AIG name in markeing since they were a fund sponser. Obviously this is when AIG had a better public reputation. If you go to the Highstar Capital website (www.highstarcapital.com) you can get more information about the investor in Utilities, Inc. and see that we are in fact not a subidary of AIG. I would appreciate it if you could correct this error in your prior report. In addition, if you have any questions about the ownership of the water utility or anything else please do not hesitate to contact my office. Larry Schumacher President & CEO

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Beshear and House Dems at Odds Over Energy Policy
Caleb Smith over at KY Wordsmith has an exclusive look at Governor Beshear and Floor Leader Rocky Adkins division over nuclear power in the energy bill. Beshear at odds with Dem lawmakers The Kentucky Senate added the language to the bill after the House passed it and Adkins is not pleased.
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