Here’s what industry professionals are saying about the Twin Cities apartment market
Image via Creative Commons 1.0/Groveland Media
A year after the pandemic led to widespread closures and a seismic shift in the workplace, we’ve reached out to local Twin Cities real estate industry professionals to highlight some of the key themes from this past year, as well as a look ahead at what’s in store for the coming months. Despite the hardship many faced in 2020, the outlook remains optimistic for the next couple of years as vaccinations increase and cities begin to slowly, but surely, open back up for business.
PNM, Avangrid win over some critics, reach initial agreement
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The Four Corners Generating Station operating west of Farmington Monday November 25, 2019. (Eddie Moore/ Albuquerque Journal)
ALBUQUERQUE, N.M. Public Service Co. of New Mexico must provide more information about its investments in the Four Corners Generating Station and its plan for the Navajo Nation to buy its share of the coal plant before state regulators will evaluate its request to abandon the facility in 2024.
Public Regulation Commission hearing examiner Anthony Medeiros ordered PNM on Friday to re-file its abandonment application by March 15 before hearings proceed. PNM filed in January for PRC approval to relinquish its 13% stake in the plant in December 2024 – nearly seven years ahead of schedule – to comply with the state’s Energy Transition Act.
Operator
Ladies and gentlemen, thank you for standing by and welcome to the Q4 2020 UFP Industries Earnings Conference Call. [Operator Instructions] I would now like to hand the conference over to your speaker, Mr. Dick Gauthier, Vice President of Business Outreach.
Dick Gauthier
Vice President Business Outreach
Welcome to the fourth quarter 2020 Conference Call for UFP Industries. Hosting the call today are CEO Matt Missad and CFO, Mike Cole. Matt and Mike will offer prepared remarks and then the call will be opened for questions. This conference call is available simultaneously in its entirety, to all interested investors and news media through our webcast at UFPI.com. A replay will also be available at that website through February 26, 2021. Before I turn the call over to Matt Missad, let me remind you that the February 24 press release, yesterday s quarterly filing and today s presentation include forward-looking statements as defined in the Private Securities Litigation R
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PNM Resources’ top six executives could receive a combined $38 million in executive compensation if shareholders approve the company’s proposed merger with Connecticut-based energy giant Avangrid.
About $12.5 million of that would go to three departing execs as a “golden parachute.” The rest is earnings and benefits the six are entitled to under their employment contracts because of goals they have achieved and is compensation they would receive regardless of the merger.
PNM will pull out of the coal-fired San Juan Generating Station, near Farmington, in 2022 (Eddie Moore/Albuquerque Journal)
The company has scheduled a special shareholder meeting for Feb. 12 to vote on both the merger and executive compensation. If the deal is approved, the investment banking firm Evercore will also earn a $36.5 million fee for brokering the deal.
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