ALLETE, Inc.

Type: Public
On the web: http://www.allete.com/
Employees: 1,500
Employee growth: 0.0%

ALLETE, formerly Minnesota Power, has lost its drive but none of its power. After having spun off ADESA, one of North America's largest vehicle auctioneers and a dealership creditor (Automotive Finance Corporation), the company now has three primary operating units: regulated utilities (electric, gas, and water located in northeastern Minnesota and northwestern Wisconsin), nonregulated utilities (coal mining and wholesale power marketing), and real estate (large land tracts in Florida). Subsidiary BNI Coal operates a mine in North Dakota that supplies, primarily, two generating co-ops, Minnkota Power and Square Butte. ALLETE also has interests in emerging technologies related to electric utilities.

Key numbers for fiscal year ending December, 2007:
Sales: $841.7M
One year growth: 9.7%
Net income: $87.6M
Income growth: 14.7%

Officers:
Chairman, President, and CEO: Donald J. (Don) Shippar
SVP and CFO: Mark A. Schober
SVP Marketing, Regulatory and Public Affairs; EVP, Minnesota Power: David J. McMillan

Competitors:
Alliant Energy
Otter Tail
Xcel Energy