This Article evaluates the regulatory treatment of windfall proceeds from a utility's purchase and subsequent sale of important assets. For service to be sustained, regulatory treatment of proceeds from all jurisdictional activities is such that expected returns to equity investment will equal...

Our working hypothesis is that a professional board which is independent of management should tip the scales in favor of higher returns to investors. Although this hypothesis is amply supported by observation and reasonable assumptions, no detailed analysis of corporate relative performance has...

Northeast Utilities System, an electricity generating and distribution company in Southern New England, adopted the low-cost dominant strategy fashionable in the management consulting companies in the mid-1980s and carried through with that strategy in the face of extreme employee, regulatory,...

The Tennessee Valley Authority, as a federal corporation governed independently by a three-person board, undertook excessive investments in the 1980s based on erroneous projections of technology and demand growth for electricity. These capital outlays have been financed to pay back loans on...

After nearly six years of telecommunications "deregulation" in the United States, centering on the Telecommunications Act of 1996, there is little to which regulatory officials in charge of such deregulation can point in terms of benefits in the form of lower prices or innovative services. It is...