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Profile: Ira F. Engelhardt
Ira F. Engelhardt was a participant or observer in the following events:
Peabody Energy logo. [Source: BNet (.com)]Ira F. Engelhardt and Fred Palmer, the CEO and vice president of Peabody Energy, meet with Andrew Lundquist, the director of Vice President Cheney’s energy task force (the National Energy Policy Development Group—see May 16, 2001). Also at the meeting are Energy Secretary Spencer Abraham and Bush economic adviser Lawrence Lindsey. Peabody, the world’s largest coal company, is preparing a stock offering. The task force’s coal policy recommendations will directly impact the stock market’s response to Peabody’s IPO. The task force releases its recommendations (see May 16, 2001) less than a week before Peabody releases its stock offering on May 21. In part because the energy policy strongly emphasizes the use of coal, Peabody raises $420 million by going public—$60 million more than stock analysts predicted. Authors Lou Dubose and Jake Bernstein will write, “The task force was, in effect, flogging a stock offering.” [Dubose and Bernstein, 2006, pp. 17-18]
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