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Off The Record: CEO Downes' job called 'excellent' Full article published: 02/25/2000     Money Managers, Analysts, Buysiders and Executives

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"Laurence M. Downes, Chairman, President & CEO of New Jersey Resources, has done an excellent job."

“Going back two years, New Jersey Resources (NYSE:NJR) was growing at 65, but Downes is doing better and has raised his target. He just reported his 17th consecutive quarter of higher earnings, which is almost unheard of in the industry. He's done a very good job of just concentrating on the company, on cost, on almost anything. If you read Downes' annual report, it's kind of amazing - his is one of the only CEO letters that has an e-mail address with a note saying, “Let me know how we're doing, any comments.” That's pretty amazing. And he's so young! Keep in mind, the natural gas industry has been an elders' industry where a lot of CEOs are older."

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This interview is a small excerpt from a comprehensive management survey published in The Wall Street Transcript on 02/21/00. For more information call (212) 952 7400. The Wall Street Transcript does not endorse any of the comments made by interviewees, and does not make stock recommendations.

Copyright 2000, Wall Street Transcript Corp.

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