Short term it is bad for the shareholders. Medium - long term it is a good announcement.
Look at it this way. New CEO only onboard for the last 2 weeks and has already come out and extended the timeline / costs due to obvious concerns about previous announcements by his predecessor. If he doesn't make this date his whole tenure as CEO is up in flames so be assured that he won't want to miss it.
Research on the new CEO shows he has a habit of under promising and over delivering which is the opposite of what WPL had.
pluto update sinking sp, page-11
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