Business Services Industry
Dissident Investors Withhold Support for Sierra Pacific Resources' Directors.
Knight Ridder/Tribune Business News, May, 2004
By John G. Edwards, Las Vegas Review-Journal Knight Ridder/Tribune Business News
May 4--RENO, Nev. -- Dissident stockholders controlling almost 30 percent of Sierra Pacific Resources' stock voted Monday to withhold support for directors at an annual meeting.
That result fell short of the 50 percent that dissident investors said they hoped to see withhold support for directors of the utility holding company for Las Vegas-based Nevada Power Co.
"Most politicians would be delighted with the results of our election," Walt Higgins, chairman and chief executive officer of Sierra, said after the meeting.
"Having said that, there are a couple of shareholders who control a lot of shares that were not happy with certain things. We're...
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