Asking for a Trend host Josh Lipton takes a look at the top stories for investors to watch on Tuesday, Mar. 10. Kohl's (KSS), Oracle (ORCL), and AeroVironment (AVAV) will all be reporting quarterly earnings results. Existing home sales data for February will be out in the morning, with economists expecting a slight decrease from the prior month. The Small Business Administration's (SBA's) National...
Asking for a Trend host Josh Lipton takes a look at the top stories for investors to watch on Tuesday, Mar. 10. Kohl's (KSS), Oracle (ORCL), and AeroVironment (AVAV) will all be reporting quarterly earnings results. Existing home sales data for February will be out in the morning, with economists expecting a slight decrease from the prior month. The Small Business Administration's (SBA's) National Federation of Independent Business (NFIB) Small Business Optimism Index will also be released in the morning. To watch more expert insights and analysis on the latest market action, check out more Asking for a Trend.
Editor's note: On Monday afternoon, Blue Origin chief executive Dave Limp sent employees an email announcing a "new stock option" plan that would allow all employees to participate in and eventually convert vested options. This article explains why this is so important for the company in the competitive space industry. Two years after he founded his space company in the summer of 2004, Jeff Bezos ...
Editor's note: On Monday afternoon, Blue Origin chief executive Dave Limp sent employees an email announcing a "new stock option" plan that would allow all employees to participate in and eventually convert vested options. This article explains why this is so important for the company in the competitive space industry. Two years after he founded his space company in the summer of 2004, Jeff Bezos penned a letter that greeted new employees with the message, "Welcome to Blue Origin!" A copy of this letter was subsequently given to new employees for nearly two decades. At one point in the letter, Bezos questioned whether Blue Origin was a good investment. "I accept that Blue Origin will not meet a reasonable investor's expectations for return on investment over a typical investing horizon," Bezos wrote. "It's important to the peace of mind of those at Blue to know I won't be surprised or disappointed when this prediction comes true. On the other hand, I do expect that over a very long-term horizon—perhaps even decades from now—Blue will be self-sustaining and operationally profitable, and will yield returns." Read full article Comments
China’s semiconductor entrepreneurs – including artificial intelligence chipmaker Cambricon Technologies and testing-and-packaging leader Tongfu Microelectronics – have voiced support for the country’s 15th five-year plan, which places renewed emphasis on the chip industry as a cornerstone of Beijing’s technology ambitions. “National policy direction and planning are very well designed,” said Chen...
China’s semiconductor entrepreneurs – including artificial intelligence chipmaker Cambricon Technologies and testing-and-packaging leader Tongfu Microelectronics – have voiced support for the country’s 15th five-year plan, which places renewed emphasis on the chip industry as a cornerstone of Beijing’s technology ambitions. “National policy direction and planning are very well designed,” said Chen Tianshi, founder and CEO of Beijing-based Cambricon. Speaking on the sidelines of the opening of China’s annual parliamentary meetings last Thursday at the Great Hall of the People, Chen – a member of the Chinese People’s Political Consultative Conference – told the South China Morning Post that “for companies like ours, the key is to focus on doing our jobs well”. Advertisement China’s 15th five-year plan, currently under review during the “two sessions” annual political gathering, makes multiple references to “integrated circuits” and “chips”. The draft calls for efforts to “refine and strengthen mature-node, enhance capabilities in advanced process technologies, accelerate development of key equipment, materials and components, and advance high-performance processors and high-density memory”. Advertisement It singles out the wide-bandgap semiconductor industry – based on materials such as silicon carbide and gallium nitride – as well as high-performance AI chips. The blueprint calls for breakthroughs in critical technologies across the entire semiconductor value chain, as well as stronger academic programmes and talent training.
Jack Draper will continue his Indian Wells title defence against Novak Djokovic after an impressive win on Monday - while Cameron Norrie claimed a major third-round scalp. British number one Draper beat Argentina's world number 20 Francisco Cerundolo 6-1 7-5 to set up a last-16 meeting with 24-time Grand Slam champion Djokovic. Djokovic, the world number three, overcame American Aleksandar Kovacev...
Jack Draper will continue his Indian Wells title defence against Novak Djokovic after an impressive win on Monday - while Cameron Norrie claimed a major third-round scalp. British number one Draper beat Argentina's world number 20 Francisco Cerundolo 6-1 7-5 to set up a last-16 meeting with 24-time Grand Slam champion Djokovic. Djokovic, the world number three, overcame American Aleksandar Kovacevic 6-4 1-6 6-4 to keep his own campaign going. British number two Norrie also reached the fourth round by upsetting the sixth seed, Australia's Alex de Minaur, 6-4 6-4. World number 14 Draper produced a more commanding performance against Cerundolo than he delivered during his second-round win over Spain's Roberto Bautista Agut. The 24-year-old, playing just his second singles event since last year's US Open after recovering from an arm injury, claimed the first set inside 32 minutes after breaking Cerundolo three times. Cerundolo provided a sterner test in the second set as he broke Draper's serve in the opening game. A further break meant Cerundolo had the chance to serve for the set at 5-4 up, but Draper resisted and took the next three games to clinch victory on his first match point. The victories for Norrie and Draper came a day on from fellow Briton Emma Raducanu being well beaten by American Amanda Anisimova, winning only two games and being ousted in 52 minutes. Norrie is the 27th seed in the men's draw but played above that status as he earned three breaks en route to victory over De Minaur. His next opponent will be Australian qualifier Rinky Hijikata, who beat Kazakhstan's 10th seed Alexander Bublik in three sets.
Hong Kong’s legislature will consider establishing a dedicated mechanism to scrutinise the implementation of approved bills and funding, drawing inspiration from mainland China’s law enforcement inspection system, according to its president. Legislative Council president Starry Lee Wai-king also dismissed concerns that the city’s first five-year plan would undermine the “one country, two systems” ...
Hong Kong’s legislature will consider establishing a dedicated mechanism to scrutinise the implementation of approved bills and funding, drawing inspiration from mainland China’s law enforcement inspection system, according to its president. Legislative Council president Starry Lee Wai-king also dismissed concerns that the city’s first five-year plan would undermine the “one country, two systems” governing principle, emphasising the blueprint would be consistent with the capitalist system and free market principles. Lee – also the city’s sole representative to the National People’s Congress (NPC) Standing Committee, the nation’s top legislative body – said on Monday that Legco could take a leaf out of the NPC’s book in adopting new tools to supervise the government. Advertisement “In the past, after bills and funding are approved, Hong Kong’s model has relied on lawmakers raising questions to follow up,” Lee said on the sidelines of the annual “two sessions” in Beijing. “Is it possible for us to conduct law enforcement inspections to examine the actual implementation and usage after bills and funding have been approved? I think this is something worth exploring.” Advertisement Lee was referring to the NPC’s law enforcement inspection system, which would identify problems arising from implementation and propose improvements, including amendments to the law.
It has been more than four years since fast-casual restaurant chain Sweetgreen (SG +6.94%) went public in November 2021. While the company looked to be a promising investment at the time, by focusing on green and healthy meals, it didn't take long for it to fall out of favor with investors. Since going public, Sweetgreen's stock has lost close to 90% of its value. While the stock did experience a ...
It has been more than four years since fast-casual restaurant chain Sweetgreen (SG +6.94%) went public in November 2021. While the company looked to be a promising investment at the time, by focusing on green and healthy meals, it didn't take long for it to fall out of favor with investors. Since going public, Sweetgreen's stock has lost close to 90% of its value. While the stock did experience a resurgence in 2024, it has found its way back into the abyss, with investors feeling more bearish than ever about the business. Sweetgreen is coming off a tough year, and unfortunately, it expects more challenges ahead. Is there so much bearishness priced into its valuation that it can arguably make for a good contrarian buy, or is this simply a risky growth stock you should avoid? Sweetgreen is struggling to grow sales Last month, Sweetgreen reported its latest quarterly earnings numbers, which were troubling. And its guidance wasn't encouraging, either. For the three-month period ending Dec. 28, 2025, the company's revenue declined by roughly 4%, to $155.2 million. Its same-store sales, which include only stores that were open a year ago, were down by nearly 12% as traffic was down significantly. To make matters worse, Sweetgreen anticipates a further decline in same-store sales this year, projecting a 2% to 4% decline in 2026. The company is, however, working on ways to try to reenergize its growth by testing out the success of wrap sandwiches, and it plans to improve checkout times. Expand NYSE : SG Sweetgreen Today's Change ( 6.94 %) $ 0.39 Current Price $ 6.01 Key Data Points Market Cap $665M Day's Range $ 5.28 - $ 6.01 52wk Range $ 5.00 - $ 27.15 Volume 146K Avg Vol 4.4M Gross Margin 4.71 % Is the stock too risky to buy? Sweetgreen has positioned itself as a healthy food option for consumers, but the problem is that the company's salads are proving to be far too expensive. There's no shortage of social media posts complaining about the company's high-priced salads, w...
Walmart (WMT +0.53%) is a solid stock to invest in, as its business is diverse and robust. The company is able to generate steady growth, regardless of economic conditions, as its big-box stores offer something for everyone. In the past five years, shares of Walmart have risen by around 190%. However, amid those impressive gains, its stock has reached elevated levels. Buying a stock that trades at...
Walmart (WMT +0.53%) is a solid stock to invest in, as its business is diverse and robust. The company is able to generate steady growth, regardless of economic conditions, as its big-box stores offer something for everyone. In the past five years, shares of Walmart have risen by around 190%. However, amid those impressive gains, its stock has reached elevated levels. Buying a stock that trades at a high premium comes with risk, regardless of how good the business may appear to be. And so while Walmart may be a quality long-term stock to own, there's one stock that may be an even better buy right now, and that's Ross Stores (ROST +0.22%). Ross Stores delivers strong growth in Q4 Retail company Ross Stores released its fourth-quarter numbers last week, which exceeded its guidance. The business had a terrific quarter for the holiday season with sales for the three-month period ending Jan. 31 totaling $6.6 billion, rising by 12% year over year. The company's comparable store sales rose by 9%. The comparable number is key as it only factors in stores that were open a year ago, and thus, excludes the effect of stores being closed and opened within that time frame. It was a terrific performance for the company that enabled it to generate a per-share profit of $2.00, which was well above its guidance range of $1.77 to $1.85. Ross Stores says it is seeing a "strong start" for the current quarter and projects its comparable store sales to be up between 7% and 8%. It is a bit more modest in its full-year growth, however, projecting just 3% to 4% same-store growth over the 12-month period. Expand NASDAQ : ROST Ross Stores Today's Change ( 0.22 %) $ 0.47 Current Price $ 212.22 Key Data Points Market Cap $68B Day's Range $ 204.20 - $ 212.26 52wk Range $ 122.36 - $ 216.80 Volume 132K Avg Vol 2.6M Gross Margin 29.35 % Dividend Yield 0.77 % Why Ross Stores looks like an underrated buy today Ross Stores' stock spiked on the strong earnings numbers, and it's now up around 18% for the...
Toltek/iStock via Getty Images U.S. grain futures finished lower Monday as traders appeared to lock in some profits after wheat rose to its highest level in nearly two years, with the Middle East war lifting energy and fertilizer costs while threatening to tighten supplies across agricultural markets. Iran's appointment of Mojtaba Khamenei, son of the slain Ayatollah Ali Khamenei, as the supreme l...
Toltek/iStock via Getty Images U.S. grain futures finished lower Monday as traders appeared to lock in some profits after wheat rose to its highest level in nearly two years, with the Middle East war lifting energy and fertilizer costs while threatening to tighten supplies across agricultural markets. Iran's appointment of Mojtaba Khamenei, son of the slain Ayatollah Ali Khamenei, as the supreme leader helped push crude oil higher, and grains reportedly caught support because of their usage as feedstock for renewable fuels, but the gains eventually gave way to profit-taking that sent grains lower and trimmed considerable gains in energy futures. "Wheat was up sharply to start the night session but fell off hard on profit-taking and bad gamma trading," Marex.com analyst Charlie Sernatinger said in a note, adding that export demand is being affected by the gridlock in the Strait of Hormuz, while rainfall is expected in the U.S. Plains this week, which is beneficial for the winter wheat crop. American Farm Bureau Federation head Zippy Duvall said Monday there were several steps the Trump administration could take to help ease the growing burden for farmers needing to procure fertilizer ahead of the start of the Corn Belt's planting season next month. Duvall said "utilizing the U.S. Navy to provide and maintain safe and reliable maritime transit for fertilizer shipments through the Strait of Hormuz" would help ensure steady supply and called for easing duties that put barriers on fertilizer imports. Wheat ( W_1:COM ) for May delivery on the Chicago Board of Trade closed -2.3% to $6.012 1/2 per bushel, corn ( C_1:COM ) for May delivery finished -1.6% to $4.53 1/4 per bushel, and soybeans ( S_1:COM ) for May delivery ended -0.4% at $11.96 1/4 per bushel. ETFs: ( WEAT ), ( CORN ), ( SOYB ), ( DBA ), ( MOO ) More on U.S. grain futures Corn: Runner Up In Oil Spike Commodities: Persian Gulf Disruptions Hitting Upstream Oil Production Commodities: Oil Softens Ahead Of Further ...
Blackstone Inc. -owned data center operator AirTrunk Pte has secured one of the largest financings in the artificial-intelligence infrastructure sector in Japan as part of an expansion plan. The company secured a ¥191.6 billion ($1.2 billion) green loan to refinance existing debt and fund an expansion of a data center in Tokyo, according to a company announcement Tuesday. The loan was led by Sumit...
Blackstone Inc. -owned data center operator AirTrunk Pte has secured one of the largest financings in the artificial-intelligence infrastructure sector in Japan as part of an expansion plan. The company secured a ¥191.6 billion ($1.2 billion) green loan to refinance existing debt and fund an expansion of a data center in Tokyo, according to a company announcement Tuesday. The loan was led by Sumitomo Mitsui Banking Corp , Mitsubishi UFJ Financial Group Inc , Credit Agricole CIB and Societe Generale as global coordinators. Investment in AI-related infrastructure such as data centers is projected to surpass $3 trillion over the next five years, according to Moody’s Ratings, with much of the spending to be financed through debt. Companies such as AirTrunk continue to grow, notwithstanding concerns on Wall Street about the scale of the investments and how much of the capital spent will generate sustainable returns. Australia-based AirTrunk recently announced plans to develop a second hyperscale data center in Osaka and a new Japan headquarters.
As one of the leading forces in artificial intelligence (AI), Nvidia (NVDA +2.71%) tends to attract a lot of attention. Investors scrutinize each and every move, looking for insight into the state of the industry or for ideas regarding investment opportunities. Just last week, the chipmaker announced strategic partnerships with Lumentum Holdings (LITE +14.59%) and Coherent (COHR +6.34%), along wit...
As one of the leading forces in artificial intelligence (AI), Nvidia (NVDA +2.71%) tends to attract a lot of attention. Investors scrutinize each and every move, looking for insight into the state of the industry or for ideas regarding investment opportunities. Just last week, the chipmaker announced strategic partnerships with Lumentum Holdings (LITE +14.59%) and Coherent (COHR +6.34%), along with plans to invest $2 billion in each of the optics technology companies. It appears the forces that be have taken notice. Late last week, the newest additions to the S&P 500 (^GSPC +0.83%) were announced -- and Lumentum and Coherent made the grade. The big leagues The S&P 500 is widely recognized as the most dependable benchmark of U.S. stock market performance, comprised of the 500 leading publicly traded companies in the country. To be considered for admission to the index, a company must meet the following criteria: Be a U.S.-based company Have a market cap of at least $22.7 billion Be highly liquid At least 50% of outstanding shares must be available for trading Be profitable on a generally accepted accounting principles (GAAP) basis in the most recent quarter Be profitable during the preceding four quarters in aggregate Expand NASDAQ : LITE Lumentum Today's Change ( 14.59 %) $ 81.46 Current Price $ 639.90 Key Data Points Market Cap $40B Day's Range $ 575.01 - $ 640.45 52wk Range $ 45.65 - $ 783.80 Volume 327K Avg Vol 4.9M Gross Margin 30.62 % In a press release that dropped after the market close on Friday, Lumentum and Coherent -- along with data center infrastructure provider Vertiv Holdings and pay-TV operator EchoStar -- would be joining the index before the market opens on Monday, March 23. Admittance to the S&P 500 is a major milestone that offers a measure of credibility and prestige, helping to boost a company's reputation. Moreover, inclusion in the index forces index-tracking funds to buy shares, boosting the company's short-term stock price. This development...
Union Corner was home to many independent businesses that have been left with nowhere to work after the building next to Glasgow Central Station collapsed.
Union Corner was home to many independent businesses that have been left with nowhere to work after the building next to Glasgow Central Station collapsed.
Earnings Call Insights: Fluent, Inc. (FLNT) Q4 2025 Management View CEO Donald Patrick announced, "Commerce Media Solutions contributed 56% of total Q4 revenue, more than doubling from 26% in Q4 2024. Building on this success, we entered 2026 with strong momentum that is accelerating." He emphasized reaching a "transformative inflection point" with a strategic pivot to the high-growth commerce med...
Earnings Call Insights: Fluent, Inc. (FLNT) Q4 2025 Management View CEO Donald Patrick announced, "Commerce Media Solutions contributed 56% of total Q4 revenue, more than doubling from 26% in Q4 2024. Building on this success, we entered 2026 with strong momentum that is accelerating." He emphasized reaching a "transformative inflection point" with a strategic pivot to the high-growth commerce media industry, and highlighted that Fluent is now being recognized as a market leader. Patrick stated, "Commerce Media Solutions delivered nearly 2x revenue growth over 2024," and underscored validation by way of financial results and expanding partnerships, including new relationships with Authentic Brands Group, DICK's Sporting Goods, and Michaels. Management discussed the launch of Rebuy Monetize powered by Fluent for Shopify merchants, and additions to its leadership like Adrian Stack as Chief Product Officer and Virginia Marc as Head of Data and Agencies. Patrick detailed a revised focus for owned and operated businesses, positioning them as "a gross profit generator" and a "test-and-learn engine" to strengthen Commerce Media. CFO Ryan Perfit reported, "Commerce Media Solutions delivered strong results. Revenue of $34.7 million represents 101% growth when compared with the fourth quarter of 2024... CMS revenue contributed 56% of total consolidated revenue in the quarter, representing more than half of total consolidated revenue for the first time." Outlook Patrick stated, "We believe 2026 marks the year over financial trend line will begin to shift, marked by double-digit growth on an aggregate continuing businesses." Management expects consolidated revenue from continuing businesses to be relatively flat in Q1 2026, followed by acceleration to double-digit year-over-year growth in the second half, with aggregate revenue from continuing businesses achieving double-digit revenue growth for the full year. Patrick indicated, "We are revising our adjusted EBITDA target for t...
Earnings Call Insights: RideNow Group, Inc. (RDNW) Q4 2025 Management View CEO Michael Quartieri opened by emphasizing RideNow's "tremendous progress in our turnaround" and detailed a continued focus on execution and operational improvement, stating, "This momentum has been building in our business throughout the year. In Q2, we generated year-over-year improvement in adjusted EBITDA. In Q3 and no...
Earnings Call Insights: RideNow Group, Inc. (RDNW) Q4 2025 Management View CEO Michael Quartieri opened by emphasizing RideNow's "tremendous progress in our turnaround" and detailed a continued focus on execution and operational improvement, stating, "This momentum has been building in our business throughout the year. In Q2, we generated year-over-year improvement in adjusted EBITDA. In Q3 and now again in Q4, we delivered year-over-year improvement in gross profit and adjusted EBITDA. All of this was achieved despite the nearly complete loss of our transportation business, Wholesale Express. Effective as of the end of December, we've shut down all operations at Wholesale Express to focus all of our attention and effort on the powersports segment." He announced that the company is "poised to build from our momentum to deliver even more adjusted EBITDA and increased free cash flow, which we intend to deploy with a discipline of an owner-oriented company." He also signaled a return to growth through acquisition in 2026. Quartieri highlighted portfolio actions in Q4: "We sold our two locations in Southern California. In Tucson, we consolidated our Indian store into our neighboring RideNow location, and consolidated our two Harley-Davidson locations to under one roof. As a result of the disposition of our two Southern California locations, coupled with the closures of our stores and Sturgis, Cincinnati and our used only store in Houston earlier in the year, we have enhanced our financial disclosures to provide same-store sales data." CFO Joshua Barsetti stated, "During the quarter, we generated total revenue of $256.9 million compared to $269.6 million in the prior year quarter. This decrease was driven by the expected reduction of our Wholesale Express business... Excluding Wholesale Express, our revenue was flat year-over-year. I'm also happy to report that our adjusted EBITDA increased 341% to $9.7 million up from $2.2 million in last year's fourth quarter." Outlook...
Kendall will also have the option to limit access to "specific features that are harmful or addictive" on social media, as well as the ability to "restrict or limit children's Virtual Private Network (VPN) use and change the age of digital consent in the UK".
Kendall will also have the option to limit access to "specific features that are harmful or addictive" on social media, as well as the ability to "restrict or limit children's Virtual Private Network (VPN) use and change the age of digital consent in the UK".
The S&P 500 (SNPINDEX:^GSPC) rose 0.81% to 6,794.34, the Nasdaq Composite (NASDAQINDEX:^IXIC) jumped 1.38% to 22,695.95, and the Dow Jones Industrial Average (DJINDICES:^DJI) added 0.50% to 47,740.79 as the market reversed course from sharp early losses tied to the Iran war–driven oil spike. Market movers Nvidia gained about 2.7% after a Morgan Stanley upgrade and growing AI optimism, helping lead...
The S&P 500 (SNPINDEX:^GSPC) rose 0.81% to 6,794.34, the Nasdaq Composite (NASDAQINDEX:^IXIC) jumped 1.38% to 22,695.95, and the Dow Jones Industrial Average (DJINDICES:^DJI) added 0.50% to 47,740.79 as the market reversed course from sharp early losses tied to the Iran war–driven oil spike. Market movers Nvidia gained about 2.7% after a Morgan Stanley upgrade and growing AI optimism, helping lead tech’s rebound. Meanwhile, Live Nation Entertainment jumped nearly 6% after a Department of Justice settlement and supportive commentary from Goldman Sachs underscored the appetite for select event-driven winners. What this means for investors This morning, the S&P 500 opened down roughly 1.5% as crude oil futures skyrocketed toward $120 a barrel amid ongoing tensions in the Middle East. However, towards the end of the day, President Trump told a reporter that “the war is very complete, pretty much,” prompting the markets to spike and close up on the day. Crude oil futures reversed their course on the news and plummeted back down to the $80s per barrel. This seems to be positive news, but it’s worth keeping in mind that none of it is “official” just yet. Furthermore, the delays in shipping across the Strait of Hormuz could have a number of knock-on effects farther downstream that are yet to be fully realized. While higher prices at the pump may not singlehandedly break the bank for consumers, it could be the tipping point for U.S. shoppers facing sticky inflation, higher home prices, potential tariff effects, and what seems to be a K-shaped recovery. That said, this seems to be the perfect opportunity to just keep holding and not do anything dramatic, one way or the other. In years where the U.S. has faced a geopolitical or major historical event, the market has been higher one year later two-thirds of the time, so let’s not worry too much just yet. Should you buy stock in S&P 500 Index right now? Before you buy stock in S&P 500 Index, consider this: The Motley Fool Stock ...
Solar And Storage Could Reshape Rural Electricity Markets Authored by Leonard Hyman & William Tilles via OilPrice.com, Rural electric cooperatives may face disruption from cheaper on-site renewables. Co-ops serve about 12% of the U.S. population but operate over 40% of the nation’s power lines. Financial pressure could grow across the system, as co-ops remain tied to long-term fossil power contrac...
Solar And Storage Could Reshape Rural Electricity Markets Authored by Leonard Hyman & William Tilles via OilPrice.com, Rural electric cooperatives may face disruption from cheaper on-site renewables. Co-ops serve about 12% of the U.S. population but operate over 40% of the nation’s power lines. Financial pressure could grow across the system, as co-ops remain tied to long-term fossil power contracts with generation providers while renewable alternatives become cheaper for rural customers. Rural electric cooperatives may be next in line for meaningful disruption from lower-cost, renewable power generation technologies such as wind and solar. The co-operative movement, a creation of FDR's New Deal, has survived the past ninety six years with a simple mandate: provide low-cost, reliable electricity in under-served rural areas. From a business perspective rural electrification always seemed like a terrible idea. The electric utility has to spend prodigiously on poles and wires for a sparsely populated area with a few customers per mile who provide an insignificant amount of steady revenues on that enormous investment. And to make it worse from a business perspective, all the farmers wanted in 1935 was mostly electric light and maybe power for a radio. Urban utilities, on the other hand, had over 20,000 customers per mile of distribution line, making for a proper business. The investor owned utilities at the time looked at the outsized capital expenditures for a rural power distribution network and its dismal revenue prospects and said, in effect, “no thanks”. This rural-urban divide in the electric utility industry generated a bitter conflict within the industry, now long gone from the public’s imagination. But it still manifests itself plainly on a utility’s balance sheet. Rural utilities, not surprisingly, have a relatively large percentage of assets devoted to power transmission and distribution activities, especially on a per customer basis—all those miles of poles,...