Is Progress interested in growing its regulated utility business through further acquisitions?
Right now we’re in debt reduction (mode). We’re not looking right now, we certainly don’t have any (acquisition) plans right now, we’re not talking to anybody right now. But we are a company that will keep our options open. If something were to come along that would be a strong strategic fit with our company and help it in the long run, we’re not going to be blind to those kinds of things. Would Progress ever consider buying out TECO Energy, or would that company’s heavy debt burden rule out such a deal? I can’t think of anybody who would say (about any prospective acquisition), “Absolutely that would just not work.” (We would only consider it) to the extent that it was strategic for us and a fit for us. We have debt now; they certainly have debt. Those would not mesh well together. But there are certainly advantages, too. You, Bill Cavanaugh and Progress Energy Florida chief executive Bill Habermeyer are all veterans of the U.S. Navy nuclear submarine program and are strong advocates
