What does "lean" really mean

[sandy_perle@email.fpl.com]

     This article was published in Public Utilities Fortnightly, 2/1/96, 
     page 54. I found it to be interesting, and, is presented here for 
     information only.
     
     ---------------------------------------
     According to Mercer Management Consulting's 1995 utility Staffing 
     Survey, being the leanest utility around doesn't necessarily guarantee 
     success. All survey information was based on 1995 participants in the 
     survey:
     
     The leanest utilities did not achieve superior growth rates in 
     operating profit. The survey found there was very little correlation 
     between staffing levels and growth rate in operating profit between 
     1990 and 1994.
     
     Lean utilities generally did not enjoy superior stock market 
     performance. In fact, the highest growth rates in market value of 
     common stock occurred with utilities having the largest relative 
     staffs.
     
     Large staffing decreases do not always translate into increasing 
     common stock prices. The survey found that the market value increased 
     the most during the 1990s for companies that increased staffing.
     
     Utilities with staff increases experienced the highest rate of 
     operating growth.
     
     This report also featured bar graph depiction's of the survey results, 
     showing the percentages growth in terms of staffing changes  
     throughout each year's quarters.
     --------------------------------------- 
     
     I do not have any information regarding how many utilities are 
     nuclear, or the mix. I will try and get a full copy of the article.
     
     
     Sandy Perle        
     Supervisor Health Physics
     Florida Power and Light Company
     Nuclear Division
     Juno Beach, FL
     
     (407) 694-4219 Office
     (407) 694-3706 Fax
     
     sandy_perle@email.fpl.com
     
     homepage: http://www.lookup.com/homepages/54398/home.html
     
     DISCLAIMER: The comments and opinions are mine alone and do not        
                 necessarily reflect those of my employer