Parents and grandparents buy 529 college savings plans as safe investments,
so VA529 chose poorly in Spectra Energy,
1-804-371-0766
Toll-Free: 1-888-567-0540
9001 Arboretum Parkway
North Chesterfield, VA 23236
Spectra is so risky it just sold itself so Enbridge would take on about $22 billion of Spectra debt. Debt especially racked up since Continue reading
SO CEO Tom Fanning didn’t budge from nuclear and coal, but he did announce a tiger team to get on top of distributed solar and wind through a smart grid, headed by SO’s COO, at the 22 May 2013 Southern Company Stockholder Meeting.
Mr. John S. Quarterman from Lowndes County, Georgia, and he holds 220 shares of Southern Company.
TF: Hello, John. Good to see you again this year.
jsq: Hi. I’ve come to compliment Tom Fanning and Paul Bowers. Last year, Tom Fanning was so persuasive I ran out and bought $10,000 worth of stock.
TF: Bless you. [Applause]
However,
apparently because of
SO’s admission a few minutes before in that same meeting
that it was going to have to eat Kemper Coal cost overruns,
SO stock tanked that same day,
causing my stock to stop out,
and Standard & Poor’s downgraded SO the following day
because of Kemper Coal, noting that if the same thing happened
with SO’s nuclear project at Plant Vogtle, S&P’s would probably Continue reading
It’s not like they weren’t warned,
about coal
and
about nukes.
It’s not Standard & Poor’s this time,
but that could happen soon, too.
SO’s biggest part, Georgia Power, is neck-deep in nukes,
as
Edison Electric Institute’s warning
about
the disruptive challenge of distributed solar
starts to affect its parent’s stock price.
Zacks.com wrote 21 June 2013, Southern Company Slips to Sell – Analyst Blog
On Jun 20, Zacks Investment Research downgraded electric utility firm, Southern Company ( SO ), to a Zacks Rank #4 (Sell).
Why the Downgrade?
Continue reading
The hydropower assets of the Tennessee Valley Authority
would give Southern Company a way to avoid doing distributed solar for a while.
Will SO CEO Tom Fanning and Georgia Power CEO Paul Bowers
bit the bullet and go straight for distributed solar instead of
helping Duke privatize TVA for a short-term stopgap that would
set both of them farther behind the disruptive solar curve?
Blue line: SCTY; red line: SO, chart by
Google Finance.
May 16th:
Goldman Sachs invested $500 million in SCTY.
May 22nd:
SO stockholder meeting.
May 24th:
S&P downgrades SO.
Wes Patoka wrote for Motley Fool 24 May 2013, Who Benefits the Most if the TVA Is Privatized,
Continue readingWhen Goldman Sachs gets in, you know there’s money in solar. They’re certainly not investing half a billion dollars for your health. Of course, if you’re in Georgia, you won’t be getting any of this 110 MW of SolarCity solar on your roof, because of that antique 1973 Territorial Electric Service Act that Georgia Power and Southern Company keep propping up. Maybe we should do something about that. -jsq
Continue reading
SAN MATEO, Calif., and NEW YORK, May 16, 2013—SolarCity (Nasdaq: SCTY), a leading provider of clean energy, today announced a lease financing agreement with Goldman Sachs (NYSE: GS) to fund more than $500 million in solar power projects; an estimated 110 megawatts in generation capacity for homeowners and businesses.
The financing makes it possible for homeowners, businesses, government and other non-profit organizations to install solar panels with no upfront cost and pay less for clean electricity than they currently pay for utility bills. The agreement was initiated in 2012 and expanded per
