AT Washington Water Power, Bobby Schmidt was appointed director of the company, and Paul A. Redmond announced his retirement as chair and CEO. Redmond started with the company in 1965. Previously...
10 Innovators to Watch in 1999
Finding good deals, does not come easily, however.
His firm reviews hundreds of deals annually. "The most troubling thing is to discover after you put your money in that some major disaster has occurred in the marketplace," he says. "And something that you thought was going to propel the company to success is not going to happen.
"Occasionally, we get blinded by the optimism of the entrepreneur and don't put enough rationality into the decision-making about the price or the price of the deal or the rate of growth, and we live to regret that."
David L. Sokol, chairman and CEO, CalEnergy Co. Inc.
Everything about David L. Sokol's numbers add up to success.
CalEnergy's 1990 revenues were just under $100 million. They'll top $2.5 billion this year. Assets were $150 million in 1990. With its proposed $4-billion merger with MidAmerican Energy Holding Co., set to close in early 1999, assets will register $13 billion. Share price was $5.50 cents in 1990 (em it's more than four times that today. In 1990, CalEnergy had one customer. With the MidAmerican merger, it will have 3.5 million
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