Friday, August 12, 2016

PS: Andy Played Hard Ball to Cut Exelon Deal

     The Post Standard reports the State of New York threatened to seize the FitzPatrick Nuclear Plant through eminent domain as a means of bringing Entergy to its knees and settle on a deal to sell the plant to energy giant Exelon.
      The politics of  over six hundred jobs made it essential for Governor Cuomo to act, much as he did with Alcoa.
       A sagging industrial economy upstate and jobs programs that produce little doesn't leave room for large black eyes.
      If I owned a tavern in Scriba, I'd be in favor of whatever it takes.....but are such deals good for all ? Who knows , but it makes for a good press conference.
http://www.syracuse.com/politics/index.ssf/2016/08/nys_threat_to_seize_fitzpatrick_nuclear_plant_sparked_deal_to_save_615_jobs.html#incart_river_home

3 comments:

Anonymous said...

it is good to see someone anyone fight to keep jobs safe in this area. even if it is Cuomo...

Anonymous said...

This story is ridiculous. Over fifteen years ago, the company bought those billion dollar nuclear plants for a few hundred million, knowing that some day they would have to pay hundreds of millions in decommissioning expenses. They walk away with essentially what they paid for the plant, plus have no decommissioning expenses to worry about. And that is someone Andy playing hard ball??? I sure would hate to see how bad the rate payers got screwed if Andy had played softball!

Also, you can bet the company was fully aware of the possibility of the state seizing the plant. You can also bet that they would have fought and won if the state tried to take the plant for a dollar.

Anonymous said...

If Benito hadn't threatened the company from the beginning, his solution would have been much cheaper for taxpayers.