Category Archives: Georgia

Nuclear’s “bet-the-farm” risk —Moody’s

Wonder why Southern Company couldn’t get private financing for its new nukes at Plant Vogtle? Because back in June 2009 bond-rater Moody’s said this:

But from a credit perspective, the risks of building new nuclear generation are hard to ignore, entailing significantly higher business and operating risk profiles, with construction risk, huge capital costs, and continual shifts in national energy policy.

In case that wasn’t clear enough, they spelled it out further.

Nuclear’s “bet-the-farm” risk

The NRC says about 14 companies to date have submitted COL applications, proposing numerous new nuclear reactors for power generation. The first of these COL’s is expected to be approved beginning in mid-2011. Many of the COL license applications include partners, but the next table lists the primary holding company entity behind each project, and our view of the activity level associated with the endeavor.

From a credit perspective, companies that pursue new nuclear generation will take on a higher business and operating risk profile, pressuring credit ratings over the intermediate- to long-term.

Moody’s wraps up with some reassuring words for financiers, but maybe not so reassuring to we the taxpayers:

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Where is SGMC in state hospital summit?

AP wrote yesterday, Hospital CEOs to discuss state of care in Ga.,

The chief executives of three major Georgia hospitals are getting together to discuss the future of health care in the state.

Probably a good idea. Which hospitals?

CEOs scheduled to sit on the panel are Tim Stack of Piedmont Hospital in Atlanta, Don Faulk of Central Georgia Health System in Macon and Maggie Gill of Memorial Health University Medical Center in Savannah.

Where is SGMC CEO Randy Sauls? What about what he described on 5 April 2012:

“…the vast array of services offered at SGMC. We are a progressive hospital with many services that are unique to South Georgia.”

So who organized the hospital CEO discussions?

The Executive Forum, an outreach program of Mercer University’s business school, will host the hospital CEOs….

Hm, maybe VSU could host some hospital CEOs. Maybe unlike Mercer’s Forum, they could make the discussion open to the public. Maybe even invite questions from the public.

-jsq

 

New nukes increasingly bad business bet for Southern Company and Georgia Power

Harvey Wasserman wrote for HuffPost 9 April 2012, America’s 2 New Nukes Are on the Brink of Death,

The only two U.S. reactor projects now technically under construction are on the brink of death for financial reasons.

If they go under, there will almost certainly be no new reactors built here.

The much mythologized “nuclear renaissance” will be officially buried, and the U.S. can take a definitive leap toward a green-powered future that will actually work and that won’t threaten the continent with radioactive contamination.

Those are the stakes. And in that high-stakes poker game, it seems Southern Company is doing a little bluffing.

In Southern Company’s (SO) Q1 2012 Earnings Call 25 April 2012, its CEO Thomas Fanning revealed another little flaw in the project:

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Fixing the illusion of certainty in Georgia Power’s decision-making

Why is it so hard to get a company like Georgia Power or The Southern Company to get on with solar and wind power for clean energy, for national energy independence, and, most importantly to such corporations, for their own profit? Why instead do they keep investing in coal and natural gas and wasting our tax and customer dollars on nuclear financial boondoggles? Why did Cobb EMC back new coal plants until they had their nose rubbed in national shame about corruption and do nothing about solar until their shareholders revolted and changed a majority of their board? We don’t even need to wait for that forensic audit the new Cobb EMC board wants to get the big picture. Such companies consider what they’re used to to be low risk, and anything new to be risky. Why are they so stodgy, and how do we change that?

These companies have many decades of experience with coal and natural gas, so they consider them less financially risky. (Details like neighbors dying disproportionately from cancer cost a little bit to buy up property, but that’s nothing compared to readily predictable profits.) Even nuclear such companies consider not risky to them, since they’ve got the federal government and their own customers guaranteeing all the financial risk through Construction Work in Progress charges on their bills for power they’re not even receiving from the new nukes and agreement from Georgia PSC that cost overruns like those caused by concrete sinking into the dirt can be passed on to the customers.

Neal Stephenson wrote for World Policy Journal September 2011, Innovation Starvation,

The illusion of eliminating uncertainty from corporate decision-making is not merely a question of management style or personal preference. In the legal environment that has developed around publicly traded corporations, managers are strongly discouraged from shouldering any risks that they know about—or, in the opinion of some future jury, should have known about—even if they have a hunch that the gamble might pay off in the long run. There is no such thing as “long run” in industries driven by the next quarterly report. The possibility of some innovation making money is just that—a mere possibility that will not have time to materialize before the subpoenas from minority shareholder lawsuits begin to roll in.

But if the old ways turn out to be suddenly risky, change can come. Funny how Cobb EMC changed its tune after subpeonas started raining down for its former CEO Dwight Brown. Sure, he got off on a technicality, but it turns out Cobb EMC shareholders didn’t like Continue reading →

Glynn County live video streaming

Local governments around here seem reluctant to post videos of their own meetings, or even to post board packet items on the web. We’ve seen examples of how to do it from Travis County, Texas and Leon County, Florida, but those are other states; maybe our Georgia local governments don’t want to look at such examples. How about Glynn County, Georgia?

Found on Glynn County’s facebook page:

Did you know…Glynn County now offers live streaming and archived videos of BOC meetings ONLINE! No cable? No problem! Join us tonight at 6:00 p.m. Glynn County, GA — Official Website — Media Center

Looks like their 24 April 2012 Work Session lasted more than two hours.

And they live-stream and archive videos of their planning commission, as well. It’s 18 April 2012 meeting lasted about 24 minutes.

Back on the Glynn County web pages, they have their proposed budget online more than a week before their budget public hearing which is a special called meeting that they will put on cable channel 99 and live stream online.

Meanwhile, they have Board of Commissioners minutes online that include Continue reading →

“Break it down in common VOICE”. —Fannie Jackson

Received today on History should reward all research. -jsq

I like to read LAKE because it allows people with opposing views to voice an opinion. For example, I no longer feel the need to read my hometown paper, the little advertiser, the DC Caller and various other right wing promoters. Another example, George and I disagree on many issues and Ms. Stratton and I disagree on many issues.. Citizens with the same rights as everyone being bullied.. intimidated.. feels familiar. Koch brothers, ALEC, local DA, local BOE, etc… Take your pick. Ms. Stratton, I respect your VOICE. But, I have been too busy getting myself and others CERTIFIED to REGISTER voters and per Ken Collins ANYONE can vote ABSENTEE for ANY reason AND, I can pick up as many ABSENTEE APPLICATIONS as I wish and TAKE them to my family which includes practically EVERYBODY in BROOKS.. Not to DISRESPECT your VOICE, but your previous comment about "anyone NOT capable of getting ID.." basically STUPID. In 2012, there are souls in my community who STILL need all the Fannies and Georges to "Break it down in common VOICE". I can just see Deal, Olens, Carter, Golden and ALL the others huddling NOW to change this little VOTER PERK! I wish someone would please tell this to the guys on 105.9. And George, I have NEVER listened to them.. Do not feel the NEED. I got too many people asking me to come explain some WORDS to them..And, I thank my late father, Mr. Charlie Milton (Bud) Jackson, Sr.. Brooks counties' GREATEST TROJAN for this.. Daddy never learned to read and write, but he was so PROUD EVERYTIME he marked that X on his ballot..

-Fannie Jackson

And all posts (and comments) on the LAKE blog are the posters' opinion, except in the rare cases where a post is clearly labelled "for LAKE". I congratulate everyone for keeping it civil. Please remember to discuss the ideas without attacking the person.

-jsq

Georgia Legislators with ALEC Ties —Thomas Kirkpatrick

Received 25 April 2012 on ALEC covers the spectrum in terms of bad policy for people. -jsq

To answer your closing question, which you most likely asked rhetorically, I offer the following list:

Georgia Legislators with ALEC Ties

House of Representatives

  • Rep. Calvin Hill, Jr. (R-21), State Chairman,[19][21] Telecommunications and Information Technology Task Force and International Relations Task Force member[28] and recipient of ALEC’s 2011 State Chair of the Year Award[1]
  • Rep. Don L. Parsons (R-42); Telecommunications and Information Technology Task Force
  • Rep. David S. Casas (R-103); Education Task Force
  • Rep. Doug Collins (R-27); Civil Justice Task Force
  • Rep. Edward H. Lindsey, Jr. (R-54); Civil Justice Task Force
  • Rep. Ed Setzler (R-35); Tax and Fiscal Policy Task Force
  • Rep. Larry E. O’Neal (R-146); Tax and Fiscal Policy Task Force
  • Rep. Sharon Cooper (R-41)[19]; Health and Human Services Task Force
  • Rep. Ben L. Harbin (R-118); International Relations Task Force
  • Rep. Gerald E. Greene (R-149); International Relations Task Force
  • Rep. Josh S. Clark (R-98); International Relations Task Force
  • Rep. Jack Murphy (R-27); Public Safety and Elections Task Force
  • Rep. Mark D. Hamilton (R-23); Public Safety and Elections Task Force
  • Rep. Tom R. Rice (R-51)[19]; Public Safety and Elections Task Force
  • Rep. Donna Sheldon (R-105)[19]; Health and Human Services Task Force
  • Rep. Judy Manning (R-32); Health and Human Services Task Force
  • Rep. Lynn Smith (R-70); Energy, Environment and Agriculture Task Force
  • Rep. Michael Harden (R-28); Energy, Environment and Agriculture Task Force
  • Rep. Charlice Byrd (R-20)[19]; Health and Human Services Task Force
  • Rep. Howard R. Maxwell (R-17); Education Task Force
  • Rep. Jan Jones (R-46); Education Task Force
  • Rep. Charles E. Martin, Jr. (R-47); Commerce, Insurance and Economic Development Task Force
  • Rep. Kip Smith (R-129); Commerce, Insurance and Economic Development Task Force
  • Rep. James W. Mills (R-25)[19]; Commerce, Insurance and Economic Development Task Force
  • Rep. Mike Dudgeon (R-24); Education Task Force
  • Rep. Carl Rogers (R-26); Energy, Environment and Agriculture Task Force
  • Rep. Terry England (R-108); Energy, Environment and Agriculture Task Force
  • Rep. Paulette Rakestraw-Braddock (R-19); International Relations Task Force
  • Rep. Billy S. Horne (R-71); Public Safety and Elections Task Force
  • Rep. Kevin Cooke (R-18); Public Safety and Elections Task Force
  • Rep. Lynne Riley (R-50); Tax and Fiscal Policy Task Force
  • Rep. Buzz Brockway (R-101); Telecommunications and Information Technology Task Force
  • Rep. Barry D. Loudermilk (R-14); Telecommunications and Information Technology Task Force
  • Rep. Amos Amerson (R-9)[19]
  • Rep. John Meadows (R-5)[19]
  • Rep. James Mills (R-25)[19]

Senate

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History should reward all research —George Boston Rhynes

Received yesterday on Georgia Governor Nathan concerning this alleged suicide. -jsq

Ms Barbara Stratton!

Thanks for the info along the lines of

"getting beyond racial bias and discussing issues honestly as friends, respect each other's opinons and not be afraid of reprisal from racial antogonists?"

History should reward all all research and to better understand or overstand the racial bias in America one only need to study what happened in our world before todays religious belief systems infected hate under the name of religion and the elites.

-George Boston Rhynes

Doing what I do because its all about us; collectively as we travel the righteous path in and among those that does not want for their neighbor; the same things that they want for themselves and their own families. It is what it is…

Surely a thorough investigation should be conducted to determine the facts. —Barbara Stratton

Received Thursday on Georgia Governor Nathan concerning this alleged suicide. -jsq

With all due respect to Mr. Rhynes, who I consider a friend, no one knows all the facts in this hanging death of an inmate and yes all prisoners should be protected even against themselves for liability and ethical reasons. However, if I had just committed and confessed a murder I personally might prefer suicide, probably because I would think I did not deserve to live if the shooting was not in self defense. Perhaps Mr. Rizer was of that opinion, and if so he should have the freedom to make his own choices. Yes, I know about the Baker Act, know all the correct answers to pass suicide prevention training, and I have the Wingman card with rules for suicide prevention in my wallet. However, I am still a believer in free will including suicide. If there were any circumstances that contributed to his ending of his life against his will then surely a thorough investigation should be conducted to determine the facts.

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Someplace worse than here

Eric Stirgus wrote for the AJC 25 April 2012, PolitiFact: For the record, it’s OK to record council meetings,

Meetings of the Cumming City Council rarely make the evening news, but that changed last week with video of a woman being tossed out of the public gathering.

The woman, Nydia Tisdale, was attempting to film the council’s meeting April 17, but she was told that was not going to happen.

“We don’t allow filming inside of the City Hall here,” Mayor H. Ford Gravitt said, “unless there is a specific reason.”

Hm, what does state law say?

Title 50, Section 14 of the Georgia Open Meetings Act:

“[v]isual, sound, and visual and sound recording during open meetings shall be permitted”

Stirgus notes some irony:

In a strange bit of timing, Tisdale was tossed from the council meeting on the same day Gov. Nathan Deal signed House Bill 397, a revised state law on open meetings and records aimed at providing greater access to documents and public meetings.

The Georgia Attorney General’s Office is investigating, as well it should. The investigation shouldn’t take long, since the entire incident is on video. Meanwhile, the mayor keeps digging:

Gravitt also explained that he had concerns that allowing one camera and tripod in would embolden multiple people to bring in cameras and tripods into a meeting.

Then people might know what’s going on!

Here’s the video:

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