THE VIRGINIAN-PILOT
Copyright (c) 1995, Landmark Communications, Inc.
DATE: Wednesday, December 20, 1995 TAG: 9512200509
SECTION: LOCAL PAGE: B2 EDITION: NORTH CAROLINA
DATELINE: HATTERAS LENGTH: Short : 33 lines
The boards of Cape Hatteras Electric Cooperative and Tideland Electric Membership have had preliminary discussions concerning the possible benefits of merging the two electric co-ops.
While the process is in the early stages, both boards agree that the potential benefits of merger warrant further review. Cape Hatteras Electric Cooperative and Tideland EMC have agreed to form a joint steering committee, made up of board members and the managers of the two cooperatives, to study the issue further and report back to the boards with recommendations, officials of the Hatteras group said.
The Hatteras steering committee includes Dale Burrus, president; Walton Fulcher, vice president; John Robert Hooper, secretary-treasurer; Elvin Hooper, board member and Jim Sherfey, interim manager. The joint committee has heard and accepted a proposal from McGladdrey and Pullen, certified public accountants and consultants to assist them in a study to determine the advantages and disadvantages and the ultimate feasibility of merging Tideland and Cape Hatteras EMC as one cooperative. When this report is complete and given to the boards of the two cooperatives they will share the report's information with the membership and recommendations if any action needs to be considered by the membership for the future. It is anticipated that the report will be completed in 90 days. by CNB