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When did Long Island lighting start?
On June 1, 1911, the New York Public Service Commission (PSC) allowed Long Island Lighting to begin to function. Five directors--including Phillips, Olmsted, and Dean--were authorized to issue $300,000 of common stock and sell $295,000 in bonds.
What was the original power utility for Long Island?
LILCO was the original power utility for Long Island from 1911 until 1998. It was founded by Ellis Laurimore Phillips, an engineer, and a group of New York City investors, including George W. Olmsted, when they purchased four small electric companies in Amityville, Islip, Northport and Sayville.
What is the history of the LILCO logo?
LILCO Logo of the 1960s and 1990s Industry Electric utility Founded Long Island, New York (1911) by Ellis La ... Defunct 1998 Fate Electrical transmission network acquired ... 5 more rows ...
Is LSI Industries a large cap stock?
LSI Industries Inc. ( NASDAQ:LYTS ), might not be a large cap stock, but it received a lot of attention from a...
When was Long Island Lighting Company organized?
What county is Long Island Lighting Company in?
On the last day of 1910, the Long Island Lighting Company was organized. The new company merged four small Suffolk County utilities: the Amityville Electric Light Company, the Islip Electric Light Company, the Northport Electric Light Company, and the Sayville Electric Company. On June 1, 1911, the New York Public Service Commission (PSC) ...
When did Lilco power go out?
Statistics: Long Island Lighting Company (LILCO) supplies electric and gas service in Nassau and Suffolk counties and the Rockaway Peninsula in Queens County, all on Long Island, New York. The company serves approximately 2.8 million people in an area of 1,230 square miles.
When did the fuel rods come off the Shoreham reactor?
In September 1944 another hurricane knocked out 91% of LILCO's system. Most power was restored in about 12 days, aided considerably by LILCO's use of Nassau County's police radio network. In the wake of this storm LILCO installed its own radio system. There were other changes in the 1940s, too.
When did the Long Island Railroad move against LILCO?
The fuel rods were removed from Shoreham's reactor vessel in August 1989, and the plant stood idle. The cost of absorbing the Shoreham debt pushed LILCO's rates to the highest of any utility in the country. LILCO seemed to recover some fiscal stability in the wake of the settlement.
Where is Long Island Lighting located?
A group of consumers who had first organized to oppose a rate increase by the Long Island Railroad moved against LILCO in 1927. They presented a petition for a rate decrease to the Public Service Commission. The petition failed, but the PSC initiated comprehensive audits of LILCO and all other utilities in New York.
When did the peak load electric use pass?
Phillips and Company, located in 1910 on the 16th floor of a new skyscraper at 50 Church Street, New York City . Ellis Phillips, born in 1873 in western New York, held degrees in both mechanical and electrical engineering. He had worked for Westinghouse, Church & Kerr, one ...
Who bought JSI lighting?
Peak load electric use passed one million kilowatts in 1960, the same year that saw the number of customers using gas heat jump to six times what it had been just a decade before. President John J. Tuohy announced LILCO's intention to build a nuclear power plant on Long Island at a stockholders' meeting in April 1965.
Where is Lsi located?
Commercial lighting and graphics solutions provider LSI Industries (LYTS) has acquired JSI Store Fixtures for $90 million from RFE Investment Partners. JSI provides retail commercial display solutions. Its solutions have seen growth on the back of demand from major supermarket, convenience, and specialty store chains. LSI President and CEO James A. Clark said, “This acquisition will significantly increase LSI’s total addressable markets within the grocery and convenience store verticals while driving meaningful revenue synergies across our combined product portfolio, consistent with our long-term strategic focus.” Clark added, “At a commercial level, the combination of LSI’s graphics signage and JSI’s display fixtures businesses, together with our deep portfolio of lighting and program management solutions, will provide a compelling, one-stop value proposition for both new and existing customers.” (See LSI Industries stock analysis on TipRanks) During the calendar year 2020, JSI generated revenue of $70 million and adjusted EBITDA of $10 million. LSI expects this acquisition to be accretive to its adjusted earnings. Significantly, this acquisition creates a diversified business of scale, provides a strong platform for growth, and enables the company to capitalize on a multi-year investment cycle in the grocery industry. Last month, H.C. Wainwright analyst Amit Dayal reiterated a Buy rating on the stock with a $14 price target (70.1% upside potential). Dayal sees multiple catalysts driving LSI’s future growth. These include nationwide deployment opportunities for the Graphics segment in retail and pharmacy verticals, reorganization of the sales process in the Lighting segment, and an improvement in margins. The other analyst covering the stock, Roth Capital’s Craig Irwin, also has a Buy rating on the stock with a $11 price target (33.7% upside potential). The two ratings add up to a Moderate Buy consensus rating alongside a $12.50 price target (51.9% upside potential). Shares have gained about 38.8% over the past year. Related News: Tesla Considering Opening a Factory in Russia – Report Snap to Acquire WaveOptics for over $500M – Report Oasis Petroleum to Sell Permian Basin Assets for $481M More recent articles from Smarter Analyst: KKR Snaps Up Three-Building Portfolio In Phoenix StoneCo Signs $471M Investment Agreement With Banco Inter Hydrofarm To Acquire House & Garden For $125M; Shares Rise 5% After-Market Beam Global Posts Smaller-Than-Feared Quarterly Loss; Revenue Misses Estimates
What are the LSI awards 2021?
About LSI Industries Inc. Headquartered in Blue Ash, Ohio (Greater Cincinnati), LSI Industries is a leading producer of high-performance, American-made lighting solutions. The Company’s strength in outdoor lighting applications creates opportunities for it to introduce additional solutions to its valued customers.
How much cash does Lsi have in 2021?
(NASDAQ: LYTS) today announced the grant of inducement awards as follows: 146,029 performance stock unit awards and 36,506 restricted stock unit awards. The awards were made to six new employees formerly of JSI Holding Corp., a company LSI announced it acquired on May 24, 2021, and are subject to the terms and conditions of LSI’s 2019 Omnibus Award Plan. The awards were granted as an inducement material to the new employees becoming employees of LSI in accordance with Nasdaq Listing Rule 5635 (c) (4) and have been approved by LSI’s Compensation Committee. The PSUs vest in three years subject to the satisfaction of cumulative EBITDA and revenue performance goals. The RSUs cliff vest after three years. About LSI Industries Inc. Headquartered in Blue Ash, Ohio (Greater Cincinnati), LSI Industries is a leading producer of high-performance, American-made lighting solutions. The Company’s strength in outdoor lighting applications creates opportunities for it to introduce additional solutions to its valued customers. LSI’s indoor and outdoor products and services, including its digital and print graphics capabilities, are valued by architects, engineers, distributors and contractors for their quality, reliability and innovation. The Company’s products are used extensively in automotive dealerships, petroleum stations, quick service restaurants, grocery stores and pharmacies, retail establishments, sports complexes, parking lots and garages, and commercial and industrial buildings. LSI has approximately 1,100 employees at seven manufacturing plants in the United States, including its corporate headquarters. Additional information about LSI is available at www.lsicorp.com. Forward-Looking Statements For details on the uncertainties that may cause our actual results to be materially different than those expressed in our forward-looking statements, visit http://www.lsi-industries.com/fls as well as our Annual Reports on Form 10-K and Quarterly Reports on Form 10-Q which contain risk factors. INVESTOR CONTACT Noel Ryan, [email protected] MEDIA CONTACT Mike WallnerSenior Manager, [email protected]
What is Long Island Lighting Company?
LSI generated free cash flow of $10.6 million for the quarter, increasing its total cash and equivalents to $23.5 million as of March 31, 2021. On March 30, 2021, LSI extended the maturity of its revolving credit facility from March 2022 to March 2026 and increased total availability by $25 million to $100 million.
When did Hurricane Gloria hit Long Island?
The Long Island Lighting Company, or LILCO [ "lil-co" ], was an electrical power company and natural gas utility for the communities of Long Island, New York, serving 2.7 million people in Nassau, Suffolk and Queens Counties.
What is a LILCO?
Hurricane Gloria hit Long Island on September 27, 1985, but power was not fully restored until October 8. The utility's poor response to the storm further eroded public confidence in LILCO's ability to handle an emergency and placed increased pressure to shutter the LILCO built Shoreham Nuclear Power Plant.
