History
In 2000, Carolina Power & Light bought Florida Progress Corporation and changed its name to Progress Energy. The company built a new headquarters in downtown Raleigh in 2004.
On January 10, 2011, Duke Energy announced plans to take over Progress Energy in a $26 billion deal resulting in the country's largest electric utility with 7.1 million customers. Although the headquarters will be in Charlotte, North Carolina, Duke Energy plans to "maintain substantial operations in Raleigh." When the merger was completed on July 3, 2012, Duke Chairman James E. (Jim) Rogers became Chairman and CEO of the new combined company, while Progress CEO Bill Johnson resigned.
Read more about this topic: Progress Energy Inc
Famous quotes containing the word history:
“Throughout the history of commercial life nobody has ever quite liked the commission man. His function is too vague, his presence always seems one too many, his profit looks too easy, and even when you admit that he has a necessary function, you feel that this function is, as it were, a personification of something that in an ethical society would not need to exist. If people could deal with one another honestly, they would not need agents.”
—Raymond Chandler (1888–1959)
“... that there is no other way,
That the history of creation proceeds according to
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—John Ashbery (b. 1927)
“The history of any nation follows an undulatory course. In the trough of the wave we find more or less complete anarchy; but the crest is not more or less complete Utopia, but only, at best, a tolerably humane, partially free and fairly just society that invariably carries within itself the seeds of its own decadence.”
—Aldous Huxley (1894–1963)