{"id":1343,"date":"2006-07-27T09:47:47","date_gmt":"2006-07-27T17:47:47","guid":{"rendered":"https:\/\/www.bridgeandtunnelclub.com\/wordpress\/archives\/2006\/07\/low-hanging_wires_er_fruit.html"},"modified":"2008-01-24T18:52:36","modified_gmt":"2008-01-24T23:52:36","slug":"lowhanging_wire","status":"publish","type":"post","link":"https:\/\/www.bridgeandtunnelclub.com\/blog\/archives\/2006\/07\/lowhanging_wire.html","title":{"rendered":"Low-Hanging Wires, Er, Fruit"},"content":{"rendered":"<p>The Post piles on Con Ed chairman Kevin Burke, noting that the recent blackout <a href=\"http:\/\/www.nypost.com\/news\/regionalnews\/erious_juice_for_con_eds_bonehead_regionalnews_hasani_gittens.htm\">may lead to an Enron-esque boost for his stock options<\/a>:<\/p>\n<blockquote><p><em>Kevin Burke, the embattled Con Ed chairman who relocated Queens into the Third World, could make a bundle off his company&#8217;s stocks, thanks to the blackout.<\/p>\n<p>Con Ed&#8217;s stock closed at $45.21 on Friday, July 14, the last trading day before the electricity went out for more than 100,000 people in the borough on the following Monday.<\/p>\n<p>Yesterday, the stock finished at $47.19 &#8212; up 4.4 percent from July 14.<\/p>\n<p>Power broker Burke owns 272,625 shares and options of Consolidated Edison, according to regulatory filings.<\/p>\n<p>This means that while northwest Queens was sweating in the sweltering darkness, the total value of Burke&#8217;s paper holdings surged $560,000.<\/p>\n<p>Experts say that utility stocks are generally very stable &#8212; Con Ed&#8217;s hasn&#8217;t moved more than a few percentage points all year &#8212; but crisis situations where supply is limited can boost trader speculation and investor interest.<\/p>\n<p>Burke&#8217;s windfall is in addition to his $1.5 million salary and bonus.<\/em><\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>The Post piles on Con Ed chairman Kevin Burke, noting that the recent blackout may lead to an Enron-esque boost for his stock options: Kevin Burke, the embattled Con Ed chairman who relocated Queens into the Third World, could make a bundle off his company&#8217;s stocks, thanks to the blackout. Con Ed&#8217;s stock closed at [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[55],"tags":[],"class_list":["post-1343","post","type-post","status-publish","format-standard","hentry","category-thats_an_outrage"],"_links":{"self":[{"href":"https:\/\/www.bridgeandtunnelclub.com\/blog\/wp-json\/wp\/v2\/posts\/1343","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bridgeandtunnelclub.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bridgeandtunnelclub.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bridgeandtunnelclub.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bridgeandtunnelclub.com\/blog\/wp-json\/wp\/v2\/comments?post=1343"}],"version-history":[{"count":0,"href":"https:\/\/www.bridgeandtunnelclub.com\/blog\/wp-json\/wp\/v2\/posts\/1343\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.bridgeandtunnelclub.com\/blog\/wp-json\/wp\/v2\/media?parent=1343"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bridgeandtunnelclub.com\/blog\/wp-json\/wp\/v2\/categories?post=1343"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bridgeandtunnelclub.com\/blog\/wp-json\/wp\/v2\/tags?post=1343"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}