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Naturally they spent it. That's what it was raised for. The only unexpected expense was the 110 million caused by the enron collapse. NPW broke the one million customer mark over a week ago and I haven't heard where they are today. Not that it matters, as long as they are busy with business. The criticisms I've read have no basis. No numbers, no negative facts, only inferences. I can name many energy companies that are having the same difficulties ( I have named some previously) and are long time established companies. Because of the history of regulation in this industry there are literally hundreds of gas and electric providers. Most you can not buy stocks in; either they are wholly owned subsidiaries or community owned utilities (such as mine). They just do business and don't have to deal with people speculating over their stocks. I've read speculation that Xcel may buy up the remaining NRG stock and make it a subsidiary again because NRG has dropped in the same way NPW has, yet NRG is an international money making machine. A lot of bargains out there and NPW is one.
With the low credit rating of the energy sector in general and the advantage of not carrying debt in a heavily indebted industry, I'd rather not see us borrow money. The price of NPWs stock is irrelevant to day to day operations. It IS important if money will be borrowed or new issues of stock are to be sold, but neither we nor most any other energy company is in the position to take on debt. The terms would not be as favorable as desired and the amount may not be sufficient to make the difference we would want.
It would be better for NPW to slowly buy back some of the stock at these prices and borrow money when the stock price gives us a better advantage.

< What companies won't want to contract with them? And why? >

They pay their bills and have cash on hand, they make money and are a growing company, reinvesting everything they bring in.
Why speculate on problems that don't exist? How about this one? The moon may degrade it's orbit and crash into Texas? How will this effect NPWs stock? Speculating on nonexistent problems sounds as silly as the ridiculous example I just gave.
Buy the way, everyone, I think AOL is out of the picture. Can't find reference anywhere to them anymore and AOL is having all sorts of internal problems. NPW has gone on with "Coactive Networks" and "Internet Home Alliance" and has left AOL in the dust to deal with it's own problems.
NPW is also using some of the marketing strategies developed during the AT&T long distance carrier breakup.
A lot of great stuff is happening at NPW, but you wouldn't know it by reading the uninformed postings on some boards.
Take a close look at those who are posting against NPW? They have made it a full-time occupation. Ten to twenty postings throughout a day. Posting negative news that has nothing to do with NPW, but is posted to 'infer' that NPW is guilty by association. In my world, I prefer reality. Real business, Real numbers, productivity, growth, and if I want gossip, I'll buy the Enquirer.
One note to consider, short interest has been consistently below 1.0. An indication that the smart short sellers aren't stupid enough to bet against this company.
Another is that institutions hold 50% of NPWs stock and they aren't letting it go either. Once the disposition of Enrons 44% has been decided, this stock can perform on its own merits, where at the moment that is a very important external influence upon its price. And it has not one bit of relevance to NPWs day to day operations.
NPW is doing good business, its stock is undervalued as a result of an external influence and the present energy sector cycle. That's the kind of circumstances that make for good bargains.
Add to this, the message board attacks (not this one so far) that have all the earmarks of a dedicated war of words. Why would anyone devote their life to bashing any stock unless:
1) They are being paid to do it.
2) Getting back at a spouse (usually that wears out)
3) A sick individual needing professional help.
4) Sold short and trying to bring down the price.
5) Bought too high and didn't anticipate the fall and now wants everyone to share in their misery.
Since I don't know everything, I read a lot. Here are some notes from an investing book I read once. The reference is to chat room and message boards.
"Chat Rooms/Message Boards - Offered by Web sites as a feature to draw viewers. Not the best prospecting tool. Very unreliable and used sometimes to influence other investors. Internet Scams Stocks praised or bashed in chat rooms and on message boards should be treated with skepticism. These are not the only media for scams. "
For me, these boards are primarily for entertainment. I do enjoy sharing ideas with others that share my interest in the occasional following of a stock. Since I am not a speculator or day trader, I don't fall for the 'shock news alarms'. And I don't expect my postings to influence anyone else. I do it for fun and many of the posters on this board are pleasant everyday folks like me. I'm more interested in hearing about how they mowed the lawn today than about how the stock will be at $12.00 in a month.
Well, enough for today. I have to get to the post office and stop off at the local college on errands. Have a good day.
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