Representative Edward Markey says (EIX) may have failed to fully inform investors about problems at SONGS.
So, let me ask anyone who worked at SCE or EIX - when did you start hearing about problems at SONGS..... I know I started hearing about them YEARS ago - back when HR was still running the joint. There was the bad NOPR rating and all kinds of bad stuff happening. How many guys have run SONGS over the past 5 or 6 years. I can think of at least 4 counting HR. Markey is on to something that could be DEVASTATING to EIX. Crater and his merry band of yes men were seen wandering around SONGS years ago in their yellow "space suits" because they were gonna see first hand what all the fuss was about. They have know they were sitting on a time bomb for at least 5 years.
So, the beat goes on. We seen demoralization (layoffs and a terrible culture), death, destruction (of companies - EME - and assets - SONGS) and a decay of shareholder value (stock is still below where Crater inherited it).
Can't wait to see the proxy and see how much the knuckleheads on the Board paid Crater and Lurch - PATHETIC!!!
Edison International (EIX), owner of California’s second-largest electric utility, may have failed to fully inform investors about problems at its shuttered San Onofre nuclear power plant, Representative Edward Markey said.
The company didn’t disclose an alleged decision to reject recommended safety modifications at the plant in Southern California because they would require a new license process, the Massachusetts Democrat wrote in a letter to the Securities and Exchange Commission today.