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Fly Charts: Gadfly Deal Grades and Utility Self-Gifting

From electric-car hiccups to Steinhoff's long road down, here are four charts that tell you what you need to know in business today.
Photographer: Chip Somodevilla/Getty Images

Good morning! This is Fly Charts, the daily charts-only newsletter from Gadfly; sign up here. From electric-car hiccups to Steinhoff's long road down, here are four charts that tell you what you need to know in business today.

Work to Do

The merger that created Willis Towers Watson gets a "polite clap" from the Gadfly deal graders.

Source: Bloomberg

*Data as of 12/19/2017

 

The Long and Winding Road

Chinese carmakers have bold electric ambitions, but few results to show so far. It may be time for a dose of reality.

Source: Bloomberg New Energy Finance, Bloomberg Intelligence, company reports and websites

Deep Cuts

There might be some worth in Steinhoff's retail chains. But debt investors already assume no value for shareholders and deep losses for credit investors.

Source: Bloomberg

Dimmer

Texas power generators just gave themselves a Christmas gift. Too bad it won't last.

Source: Electric Reliability Council of Texas

Note: Spare generating capacity as a share of summer peak demand.

And don't miss Chris Bryant on why Elon Musk can be a bad role model: "For utility investors, boring is beautiful. Dividends tend to be the priority, while visionary cash-consuming projects are best left to Silicon Valley. Peter Terium's removal as chief executive of German utility Innogy SE seems to have been prompted by his breaching this golden rule. But rather than ending the unwanted drama, his departure could prompt more of it -- by putting the company in play."

This column does not necessarily reflect the opinion of Bloomberg LP and its owners.

    To contact the author of this story:
    Max Nisen in New York at mnisen@bloomberg.net

    To contact the editor responsible for this story:
    Mark Gongloff at mgongloff1@bloomberg.net

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