Entergy Corporation is a Fortune 500 integrated energy company engaged primarily in electric power production and retail distribution operations in the Deep South of the United States. Entergy is headquartered in New Orleans, Louisiana, and generates and distributes electric power to 3 million customers in Arkansas, Louisiana, Mississippi and Texas. Entergy has annual revenues of $11 billion and employs more than 13,000 people. History Entergy traces its history to November 13, 1913, with the formation of Arkansas Power Company. Founder Harvey C. Couch used sawdust from a lumber company to bring electricity to rural Arkansas. In the 1920s, Couch set his sights on buying electric companies in other states. In 1923, he merged four independent companies in Mississippi into Mississippi Power and Light. Two years later, he formed Louisiana Power and Light to provide power to his Mississippi customers from northern Louisiana's natural gas fields. Meanwhile, in 1922, the Electric Bond and Share Company (EBASCO, a subsidiary of General Electric) under Sidney Z. Mitchell merged several competing streetcar and electric utilities into New Orleans Public Service. Mitchell began turning his attention to other territories, and eventually began competing with Couch. The two men ultimately decided to merge their resources. In 1925, Electric Power and Light Corporation was formed, an EBASCO subsidiary headquartered in New Orleans, with Couch as its president. It was the parent company for Mississippi Power and Light, Louisiana Power and Light, New Orleans Public Service, and Arkansas Power and Light. EBASCO fought the constitutionality of the Public Utility Holding Company Act of 1935, losing a Supreme Court case in 1938, and was ordered dissolved under the provisions of that act in 1949. Mississippi Power and Light, Louisiana Power and Light, New Orleans Public Service and Arkansas Power and Light were deemed to be an integrated system, and were reorganized under the control of a new holding company, Middle South Utilities. It changed its name to Entergy in 1989, and merged/bought Gulf States Utilities, based in Beaumont, Texas, as of 12:00 midnight, January 1, 1994. In the late 1990s, Entergy pursued a strategy of global expansion into unregulated markets, acquiring substantial facilities in Australia, Argentina, and the United Kingdom. Shareholder dissatisfaction with the results of this strategy led to a shakeup of management, culminating with the ouster of longtime CEO Ed Lupberger in 1998. Lupberger was replaced by Wayne Leonard, formerly of Cinergy, who supervised the company's disinvestment