Boston, MA 05\/27\/2014 (wallstreetpr) \u2013 Energy provider NiSource Inc. (NYSE:NI)<\/b> has announced plans to invest on various capital projects this year as it seeks to enhance the capacity and improve financial performance. The company recently held a shareholder meeting in which the management received backing for various resolutions.<\/p>\n
The $12 billion market capped company intends to invest $1.8 billion in 2014. The money will go into various capital and investment projects that will see the company improve its infrastructure to modern status. NiSource announced that some of the investment spending will go to NIPSCO, its subsidiary that boasts about 821,000 natural gas customers and 468,000 electric customers.<\/p>\n
The spending earmarked for 2014 will in overall help NiSource Inc. (NYSE:NI) to bring efficiency into its operations, thereby supporting higher earnings.<\/p>\n
Energy companies are looking into ways to better serve their customers while also scaling back on the impact on the environment. Those are some of the areas that NiSource would be seeking to address going forward.<\/p>\n
Seven Year Contract With IBM<\/b><\/p>\n
NiSource Inc. (NYSE:NI) announced reaching a deal with \u00a0\u00a0\u00a0\u00a0 International Business Machines Corp. (NYSE:IBM) <\/b>to provide it with a broad range of IT solutions. The deal valued at $600 million will see IBM offer the power distributor with IT services that include hybrid cloud-computing solutions.<\/p>\n
The two companies already have a warm business relationship that dates back to 2005. As such, the newly signed contract should not only unfold smoothly but also lead to reliable and efficient operations at NiSource.<\/b><\/p>\n
Shareholder Support<\/b><\/p>\n
At a recent shareholder meeting, shareholders voted favorably on almost all important issues that the management sought approval. The shareholders backed the executive package that saw the Chief Executive Officer, Robert Skaggs Jr., taking home $5.18 million in total compensation last year. The compensation was almost 11 percent above the amount paid to the CEO in 2012.<\/p>\n
Shareholders also in favor of the management frustrated a move that would have resulted in sweeping changes on how NiSource Inc. (NYSE:NI) discloses its political contribution.<\/p>\n","protected":false},"excerpt":{"rendered":"
Boston, MA 05\/27\/2014 (wallstreetpr) \u2013 Energy provider NiSource Inc. (NYSE:NI) has announced plans to invest on various capital projects this year as it seeks to […]<\/p>\n","protected":false},"author":3,"featured_media":23616,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"twitter_2902945987_2902945987":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[2236],"tags":[1053,1797,3112,6908,6907,6909],"stock_ticker":[],"class_list":["post-23611","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-nyseibm","tag-international-business-machines-corp-nyseibm","tag-international-business-machines-corp","tag-nisource-inc","tag-nisource-inc-nyseni","tag-nyseni","entry"],"acf":[],"yoast_head":"\n