NRG Energy to buy GenON in stock deal

Published: Mon, July 23, 2012 @ 12:00 a.m.

NRG Energy to buy GenON in stock deal

princeton, n.j.

NRG Energy said Sunday that it reached an agreement to buy wholesale power provider GenOn Energy in an all-stock deal worth about $1.7 billion.

Under terms of the deal, GenOn Energy Inc. shareholders will get 0.1216 of a NRG Energy Inc. share for each of their GenOn shares.

US poverty on track to reach 46-year high

washington

The ranks of America?s poor are on track to climb to levels unseen in nearly half a century, erasing gains from the war on poverty in the 1960s amid a weak economy and fraying government safety net.

Census figures for 2011 will be released this fall in the critical weeks ahead of the November elections.

The Associated Press surveyed more than a dozen economists, think tanks and academics, both nonpartisan and those with known liberal or conservative leanings, and found a broad consensus: The official poverty rate will rise from 15.1 percent in 2010, climbing as high as 15.7 percent. Several predicted a more modest gain, but even a 0.1 percentage point increase would put poverty at the highest level since 1965.

Poverty is spreading at record levels across many groups, from underemployed workers and suburban families to the poorest poor. More discouraged workers are giving up on the job market, leaving them vulnerable as unemployment aid begins to run out. Suburbs are seeing increases in poverty, including in such political battlegrounds as Colorado, Florida and Nevada, where voters are coping with a new norm of living hand-to-mouth.

Possible cover-up at nuclear plant

tokyo

Japanese authorities are investigating subcontractors on suspicion that they forced workers at the tsunami-hit nuclear plant to underreport the amount of radiation they were exposed to so they could stay on the job longer.

Labor officials said Sunday that an investigation had begun over the weekend after media reports of a cover-up at the Fukushima Dai-ichi plant, which suffered multiple meltdowns after the March 2011 earthquake and tsunami disasters.

A subcontractor of plant operator Tokyo Electric Power Co., or TEPCO, acknowledged having nine workers cover their dosimeters with lead plates late last year so the instrument would indicate a lower level of radiation exposure.

Vindicator wire reports

Selected local stocks

STOCK, DIVIDENDCLOSECHANGE

Aqua America, .66, 26.66 .26

Avalon Holdings,4.12.00

Clear Channel, .73 65.14 ?.28

Cortland Bancorp, 9.60.00

Farmers Nat., .125.66 ?.30

First Energy, 2.20, 50.36.10

FirstMerit Corp., .64,16.32 ?.21

First Niles Financial, .32,8.05.00

First Place Fin., .80.00

FNB Corp., .48,11.13?.15

General Motors,19.36?.77

General Electric, .68,19.86.06

Motors Liquidation, .0422.00

Huntington Bank, .16, 6.34?.205

JP Morgan Chase, 1.20,33.91?.55

Key Corp, .20,7.89?.02

LaFarge, 10.72 ?.37

Macy?s, .80, 35.61.12

Parker Hannifin, 1.64, 76.94?.89

PNC, 1.60,59.17?2.15

RTI Intl. Metals,22.27?.41

Simon Prop. Grp.,4.00,157.07?1.06

Stoneridge 6.14 ?.26

United Community Fin. 2.84?.1458

Selected prices at 4 p.m. Friday. Provided by Stifel Nicolaus. Not to be construed as an offer or recommendation to buy or sell any security.

Source: http://www.vindy.com/news/2012/jul/23/nrg-energy-to-buy-genon-in-stock-deal/

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