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July 25, 2007

TOMORROW'S INSIGHTS TODAY

TXU chief to leave if sale goes through


John Wilder
FILE/DMN
The buyout group didn't say who they would hire to replace CEO John Wilder, if the buyout closes late this year.
By ELIZABETH SOUDER / The Dallas Morning News

TXU Corp. chief executive John Wilder announced on Wednesday he will leave the company if TXU sells itself to private investors.

Also, vice chairman Tom Baker will retire if the $45 billion offer by Kohlberg Kravis Roberts & Co. and TPG to buy the Dallas power company closes.

TXU issued a lengthy press release detailing Mr. Wilder's contributions to the company. He improved TXU's financial performance and boosted the share price substantially, making him popular on Wall Street.

But he failed to connect with some key politicians and community leaders, and his idea to build 11 coal-fired power plants put TXU in the crosshairs of environmental and consumer advocates.

Read more in tomorrow's Dallas Morning News or online at dallasnews.com/business
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TOMORROW'S INSIGHTS TODAY: Scott Burns

Lump-sum or dollar-cost average?

Question: Say I have a lump sum to invest – $100,000.

I've decided to put it into a fund like the Vanguard Wellington fund. Would you recommend putting it into the fund at one shot, or dollar-cost average it into the fund over a period of time?

My concern is that if you choose one day to put all the money in, you may have picked the wrong day and the market may be overpriced at that time.

S.N., by e-mail from Spring, Texas

Answer: Repeated research has shown that the best time to invest is immediately, in a lump sum, because the market rises more than it falls. Basically, the odds favor investing today over investing tomorrow.

Column

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