Tag Archives: Ethics

Southern Company movie Big Bets at the Fox in Atlanta this afternoon

If you happen to be in Atlanta, there's a movie premiere this afternoon! Southern Company has made a movie out of its corporate biography, Big Bets, and is showing it today.

1:30 PM 16 July 2012
The Fox Theatre Atlanta
660 Peachtree Street NE
Atlanta, Georgia 30308

Oh, sorry, SO didn't send you a ticket? Well, I hear there will be people standing outside with signs starting around 1:30 PM. Maybe you'd like to join them. And if you're not in Atlanta, maybe you'd like to do something where you are.

Here's a preview of the movie, starring FDR: as the villain!

This appears to be the entire book online as a PDF. It starts in on FDR on page 100:

FDR had become known in utility circles as a “dangerous man” for advocating state ownership of power projects and denouncing the “sins of wildcat public-utility operators” and the “Insull monstrosity” with insinuations that all utilities were guilty of betraying the public's trust. He also proclaimed the rights of any community unhappy with its service to take over private utility operations and develop their own power sites—a “birch rod in the cupboard” to be used when good service was not provided by private companies.

Imagine that, generating your own community power! Imagine it, but you can't do it. Southern Company and Georgia Power fixed that in the 1973 Georgia Territorial Electric Service Act.

What you won't see in the movie or read about in the book, Big Bets, is much about the bet-the-farm risk of nuclear power (bond-rater Moody's phrase), or how much water nuclear uses, or the profit opportunity of renewable energy such as solar and wind power. You can see some shareholders ask SO CEO Thomas A. Fanning about some of those things in these videos from the shareholder meeting back in May. If you run into him at the movie premiere, maybe you can check in with him on whether any of his answers have evolved, for example, does he still think SO won't get to solar or wind power this decade? Or maybe you’d like to ask Southern Company some questions online.

-jsq

Insurer won’t cover fracking losses

Does your insurance policy explicitly list fracking damages among the things it covers? If not, you’re probably not covered, and especially if your insurer is Nationwide. And if your drinking water catches on fire, that’s probably not even considered damage to your property. Remember, natural gas through fracking (plus nuclear) is what Southern Company and Georgia Power (and therefore all the smaller electric utilities in Georgia) are moving to instead of coal.

The River Reporter reported Wednesday, Nationwide insurance: no fracking way

National Casualty (Insurance) Company, part of the Nationwide group of insurance companies, has announced that hydraulic fracturing operations are prohibited in relation to properties it insures.

The company has determined that the exposures presented by hydraulic fracturing are too great to ignore. Risks involved with hydraulic fracturing are now prohibited for General Liability, Commercial Auto, Motor Truck Cargo, Auto Physical Damage and Public Auto (insurance) coverage. The company said it would not bind risks with this exposure, and any policies currently written with the exposure would be non-renewed (following state requirements).

Among the prohibited risks involved in fracking operations listed by the company are contractors involved in fracking operations, landowners whose land has been leased to lessees with fracking operations, frack sand and frack liquid haulers and site prep (dump trucks, bulldozers) or leasing of tanks.

On Thursday they posted (part of) Nationwide’s response:

Continue reading →

Wikileaks wins against VISA

Kim Zetter wrote today for Wired Threat Level, WikiLeaks Wins Icelandic Court Battle Against Visa for Blocking Donations

The Icelandic partner of Visa and MasterCard violated contract laws when it imposed a block against credit card donations to the secret-spilling site WikiLeaks, a district court there has ruled.

The Reykjavík District Court ruled that Valitor, which handles Visa and MasterCard payments in Iceland, was in the wrong when it prevented card holders from donating funds to the site. The court ruled that the block should be removed within 14 days or Valitor will be fined the equivalent of about $6,000 a day.

WikiLeaks spokesman Kristinn Hrafnsson told the Associated Press that it was “a small but very important step in fighting back against these powerful banks.” He said other lawsuits are ongoing in Denmark and Belgium.

The fine isn’t nearly big enough, and of course Valitor is appealing.

“This is a significant victory against Washington’s attempt to silence WikiLeaks,” WikiLeaks founder Julian Assange said in a statement about the win in Iceland. “We will not be silenced. Economic censorship is censorship. It is wrong. When it’s done outside of the rule of law it’s doubly wrong. One by one those involved in the attempted censorship of WikiLeaks will find themselves on the wrong side of history.”

They tried to silence Ben Franklin, too, for distributing some government communications that he got from an anonymous source.

“Those who would give up Essential Liberty
to purchase a little Temporary Safety,
deserve neither Liberty nor Safety.”
—Benjamin Franklin, An Historical Review of the Constitution and Government of Pennsylvania, 1759

History found old Ben to be on the right side. It will find the same about Julian Assange. Which side are you on?

-jsq

Southern Co. nuclear cost overruns expected? Let’s build solar and wind on time and on budget!

So if Southern Company expected cost overruns at Plant Vogtle, why didn’t they make a better estimate in the first place? What incentive do they have not to continue running up the cost and delaying completion, since they get to keep charging Georgia Power customers for construction, including for cost overruns, while floating $8.3 billion in federally guaranteed loans? Where is the financial integrity in all that?

AP reported yesterday, and even Fox News carried it, Building costs increase at US nuclear sites. They’re not talking about housing prices near the sites, either.

America’s first new nuclear plants in more than a decade are costing billions more to build and sometimes taking longer to deliver than planned, problems that could chill the industry’s hopes for a jumpstart to the nation’s new nuclear age.

Licensing delay charges, soaring construction expenses and installation glitches as mundane as misshapen metal bars have driven up the costs of three plants in Georgia, Tennessee and South Carolina, from hundreds of millions to as much as $2 billion, according to an Associated Press analysis of public records and regulatory filings.

Those problems, along with jangled nerves from last year’s meltdown in Japan and the lure of cheap natural gas, could discourage utilities from sinking cash into new reactors, experts said. The building slowdown would be another blow to the so-called nuclear renaissance, a drive over the past decade to build 30 new reactors to meet the country’s growing power needs. Industry watchers now say that only a handful will be built this decade.

“People are looking at these things very carefully,” said Richard Lester, head of the department of nuclear science and engineering at the Massachusetts Institute of Technology. Inexpensive gas alone, he said, “is casting a pretty long shadow over the prospects” for construction of new nuclear plants.

AP continues with a list of late and over-budget nuke projects, including Southern Company’s Plant Vogtle $800 million over and seven months late, TVA’s Watts Bar plant $2 billion over and 3 years late, Duke’s Plant Summer SCANA and Santee Cooper’s Summer Station $670 million over and a year late.

Southern Co. and others in the nuclear business say cost overruns are expected in projects this complex…

So why are they wasting our money on nukes when they could be deploying a lot more solar and wind on time and on budget?

…and that they are balanced out by other savings over the life of the plant. Southern Co. expects Plant Vogtle will cost $2 billion less to operate over its 60-year lifetime than initially projected because of anticipated tax breaks and historically low interest rates.

Get that? “anticipated tax breaks” that leave we the taxpayers Continue reading →

One Japanese nuclear reactor back online

Not surprising, but quite possibly not a good idea. Mari Yamaguchi wrote for AP yesterday, Japan powered by nuclear energy again, blamed anew,

Nuclear power returned to Japan’s energy mix for the first time in two months Thursday, hours before a parliamentary panel blamed the government’s cozy relations with the industry for the meltdowns that prompted the mass shutdown of the nation’s reactors.

Though the report echoes other investigations into last year’s disaster at the Fukushima Dai-ichi plant, it could fuel complaints that Japan is trying to restart nuclear reactors without doing enough to avoid a repeat. Thursday’s resumption of operations at a reactor in Ohi, in western Japan, already had been hotly contested.

Government officials and the utility that runs the Ohi plant announced last month that the No. 3 reactor had passed stringent safety checks and needed to be brought back online to ward off blackouts during the high-demand summer months. Another Ohi reactor, No. 4, is set to restart later this month and the government hopes to restart more of Japan’s 50 working reactors as soon as possible.

“We have finally taken this first step,” said Hideki Toyomatsu, vice president of Kansai Electric Power Co., which operates the Ohi plant. “But it is just a first step.”

Maybe they’re like Southern Company (SO) CEO Thomas A. Fanning,who said he’d Continue reading →

Strategies for Lowndes County? —John S. Quarterman

My op-ed in the VDT today. -jsq

Our high schools and college graduates mostly have to go somewhere else, because jobs here are few and many of them don’t pay enough for a decent living. Should we not care enough about our families and our community to come up with strategies that grow existing businesses and attract new ones that will employ local people?

We need discussions and strategies that involve the whole community, going beyond just the usual planning professionals, to include all groups and individuals with information or opinions, whether they got here generations ago or last week: for fairness and for freedom.

Sometimes we see local strategy. Winn Roberson organized Drive Away CCA. Ashley Paulk verified there was no business case for a biomass plant in Lowndes County after many people successfully opposed it. School “unification” opponents, out-financed 10 to 1, still defeated that referendum 4 to 1.

How do we go beyond opposing things and move on to sustainable strategies that build clean industry?

The Industrial Authority focus group meeting I attended Wednesday was refreshing, because their consultants asked the opinions of people some of whom previously had to picket outside. The previous day, VLCIA Chairman Roy Copeland said this strategic planning process was a long time coming. I agree, and while nobody can say what will come of it at this point, I hope it does produce a real Economic Development Strategy.

Building on the Valdosta City Council’s annual consideration of affordable housing,

Continue reading →

TEPCO shareholders revolt about Fukushima

Southern Company might want to pay attention to this story about shareholders protesting the owner of the radiation-leaking Fukushima nuclear plants complaining in record numbers. Or SO shareholders might want to pay attention.

Mark Willacy wrote for Australia Network News, Fukushima report prompts anger at TEPCO meeting,

Anger against the company has intensified, after it released an in-house report into the disaster, in which it denies ever hiding information and blames the Japanese Government for confusion and delays.

In its 352-page report, TEPCO also claims that on March 13, less than 48 hours after a massive tsunami slammed into the Fukushima nuclear plant, it dispatched employees to the village of Namie, just a few kilometres north-west of the plant, and right in the path of the approaching radioactive plume.

But Tamotsu Baba, the mayor of Namie, has told the ABC’s AM that claim is a lie.

“TEPCO’s report says that on the 13th of March their employees visited our offices to explain the situation,” he said.

“We were never visited by anyone from TEPCO. Nor was the situation explained to us.

“I feel they are liars. TEPCO’s report makes me angry.”

TEPCO of course says it didn’t lie, however:

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ALEC loses 8 more, including Wal-Mart

Even Wal-Mart ditches ALEC! What about the Southern Company?

ALEC Exposed is keeping a list of Corporations Which Have Cut Ties to ALEC, and since the ten we last counted, eight more have jumped the sinking lobbying ship: Blue Cross Blue Shield, YUM! Brands, Procter & Gamble, Kaplan, Scantron, Amazon, Medtronic, and Wal-Mart. That’s right, even Wal-Mart. Jason Easley wrote for Politicus USA yesterday, Wal-Mart Dumps ALEC and Outs Them as Un-American,

In a statement, Wal-Mart representative Maggie Sans wrote, “Previously, we expressed our concerns about ALEC’s decision to weigh in on issues that stray from its core mission ‘to advance the Jeffersonian principles of free markets…We feel that the divide between these activities and our purpose as a business has become too wide. To that end, we are suspending our membership in ALEC.”

Wal-Mart claimed that ALEC was no longer as interested in Jeffersonian free market principles as they were other partisan political issues. Two of those unnamed political issues are most certainly voter ID and stand your ground laws.

When even Wal-Mart complains that ALEC isn’t “free market” enough, Wal-Mart, which Continue reading →

Coal ash and political spending transparency shareholder resolutions defeated @ SO 2012-05-23

Defeated, but with increased shareholder support this year, two shareholder transparency resolutions have been introduced year after year at Southern Company (SO), one on coal ash and the other on political spending. Here’s video of the political spending resolution being presented at the meeting, and here’s the text of the resolution. This year as usual the SO board opposed both resolutions, and as you can hear SO CEO Thomas A. Fanning announce in this video, both were voted down, with these percentages:

The reasons the board gave for opposing the political spending transparency resolution include that SO claims it is already disclosing everything it needs to. Much of that disclosure started in 2006 due to shareholder and outside pressure to do so. Center for Political Accountability press release 5 April 2006,

McDonald’s (NYSE: MCD) and Southern Co. (NYSE:SO) agreed to disclose and have their directors oversee soft money political contributions made with corporate funds, shareholder activists announced today. The groups, Washington-based Center for Political Accountability (CPA), socially responsible investment firm Trillium Asset Management Corp., and the Central Laborers’ Pension Fund, are part of a nationwide campaign to bring transparency and accountability to company political spending.

In its own 2012 statement of opposition, the SO board noted shareholder pressure is having an effect on transparency:

Continue reading →

Southern Company Rated Worst of Seven Major U.S. Utilities

Southern Company, Number One! In failing grades, that is. Room for improvement in renewable energy.

Green America press release dated 24 May 2011, Southern Company Rated Worst of Seven Major U.S. Utilities: Southern Gets Straight “F”s in Grading of “The Dirty Seven” Utilities, Also Home to Three of 10 Worst-Polluting Power Plants in U.S.,

On the eve of Southern Company (NYSE: SO) holding its annual meeting of stockholders in Pine Mountain, GA., the nonprofit Green America released a report today ranking the major U.S. power producer as “the United States’ most irresponsible utility.”

Titled “Leadership We Can Live Without: The Real Corporate Social Responsibility Report for Southern Company,” the Green America analysis assigns letter grades to seven major U.S. utilities on four fronts: reliance on coal; pollution; reliance on and expansion of nuclear power; and lobbying expenditures. Southern came in dead last with straight “F” grades in all four of the categories.

The PR and the report have a lot more detail, such as this:

Clean Air Task Force data shows that Southern Company’s coal-fired power plants cause 1,224 deaths, 1,710 heart attacks, 20,770 asthma attacks, and 752 cases of chronic bronchitis per year. The total annual cost of all of this damage is over $9 billion.

Hey, that’s more than the original projected cost of the new nukes! Georgians, do you like trading your health for SO’s coal plants and its nuclear boondoggle?

Or would you rather Southern Company and Georgia Power spend less for more electricity by following Austin Energy and Cobb EMC into solar power, plus wind off the coast, for jobs, for energy independence, for health, and for profit?

-jsq