The MM power company was acquired by a famous local tycoon with practically nothing of his own money. The DP was borrowed from a bank (which he partially controls) and paid immediately after an IPO of a holding company. The balance of the purchase price was paid for by the cash flow of the company. Smart eh. (Classical case of smart acquisition taught by Finance Professor who heads a big insurance company) Therefore he has to pamper his linemen
But the DUI has been bought by a smart guy and now does not do that. He practices attrition and now outsources most of its line work through the line companies established by retired linemen (mostly supervisors) In our town, there at least 3 such companies. They hire linemen at much lower pay, (no health or retirement pay?) and executes JO for every line installation or trouble. Part of retirement pay went into installment sales of old vehicles and equipment - smart way of disposing old assets.
Real smart guy at the top
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