First Energy
Public Statements Risk
Current CEO is relatively new and unknown. However, FirstEnergy is still facing backlash from its prior CEO. The company allegedly bribed state officials with "dark money" for bailouts of two failed nuclear plants. For this, FirstEnergy has been dubbed the "poster child of failing to oversee and monitor political spending."

Political Contributions Risk
Contributes to Republicans at a 3:1 ratio. While the Utilities sector does broadly lean right, First Energy's ratio is stronger than most others in the sector. Its total contributions place it in the middle of the sector in terms of contribution magnitude. In 2021, FirstEnergy was part of a highly public scandal in which it donated millions to the former Ohio House speaker in exchange for a state bailout. The company pled guilty and has remained quiet since.

Political Dichotomy Risk
Contributes overwhelmingly to Republicans. FirstEnergy serves a well-defined area comprising parts of Ohio, Pennsylvania, West Virginia, Maryland, New Jersey, and New York. As an electric utility company, it faces little to no competition, insulating it from product boycotts. Stock boycotts or divestment, is possible, however. The company's 10-K mentions DEI, carbon neutrality, and climate change. Reputational damage is mentioned as a risk factor, as well as unfavorable regulatory conditions from state and local governments. FE's service areas are largely red-leaning.

Associational Risk
Association with former CEO Chuck Jones is risky, given the bribery scandal with former Ohio House Speaker Larry Householder. The company has also supported former President Trump by giving to a dark money group, and there are headlines regarding the company encouraging Trump's former campaign manager Corey Lewandowski to lobby Trump for an energy/powerplant bailout in 2017-18.

Brand Visibility Risk
They have an extremely low search volume compared to other S&P 500 companies. Significant legal controversy could cause issues, but outside of something disastrous, they are likely not exposed.
