Front page article about all the people losing their jobs because of the plant closing. At least Allegheny Energy cared about it's employees, they added 5 years to it's employees time when they had to down size. Is First Energy going after the older workers ? Just wondering , just my opinion of course.
The industry has decided with all the bad press on coal coupled with the threat of tougher restrictions, and low profit margins; lets shut the plants down and create a scarcity. Gee, I'll bet that will increase profit margins. They'll get the government monkey off their back, save money, and have one great excuse to create the scarcity.
Yup, that is apparently what utes have decided to do. Shut down coal. Heck shut down nuclear too. Create an electricity crunch to highlight weak energy policy decisions by government... and reap the benefits from merchant operations when power prices spike.
@@@@@Nuclear reactors that light New York City and Chicago with carbon-free electricity face possible extinction before they can reap the benefits of President Barack Obama’s proposed climate rules Entergy Corp. (ETR)’s Indian Point power plant in New York and Exelon Corp. (EXC)’s Clinton facility in Illinois are among nuclear generators that may be shut down from either political or financial pressure on an industry that generates as much as $50 billion in U.S. electricity sales each year.
Gotta go with the times. When plants were said to be closing, you gotta put 2 & 2 together. You can't expect Fe to keep on giving people checks after they shut the coal plants down. If they do, you might as well change the ticker symbol to MC which would be short for mini congress
So I get a thumbs down for saying it's just bussiness. How many people out there are willing to give a check to somebody just to do nothing for 5 years? For those that say they would, where do I sign up?