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  • TheParallaxView TheParallaxView Sep 16, 1998 1:30 PM Flag

    Ralph Nader slams USU...

    Nader's slam on USU on alleged under-reporting of
    safety data at the two plants will weigh on this stock
    in the short term, but it sounds bogus as far as
    affecting earnings.
    I expect the uncertainty about a
    poss. justice dept. probe will limit the upside
    potential, at least until USU starts churning out those
    quality earnings reports and people wake up to the 7.55
    pct. dividend...If it drops to $14 a share, I'm in.

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    • The two enrichment plants are two of the safest
      plants in the US.

      There is problem reporting to
      solve any safety/engineering incidents and work out a
      fix.

      This was not always the case....
      When DOE?DOD had
      the plants there was no NRC/OSHA/EPA.
      Today, all
      the eyes of the community/OSHA/EPA/NRC.
      The NRC
      inspectors stated, "follow procedures or get shut
      down,
      for we dont care if this place runs or
      not."

      ERSE

    • The Privatization Act has provision to allocate
      the liabilities between the Company and the US
      Government. Liabilities attributable to the Company's
      operations prior to the Privatization remain with the
      Government. Even if Nadar could prove the plants unsafe,
      chances are that the condition was inherited by the
      Company prior to the Privatization. It should n't cost
      the Company's future earning. The controversy may
      have a temperorary effect on the stock price - which
      will be good for us to accumulate more shares. Yes,
      the dividend is very attractive - I would have to buy
      some bank stocks from Chile to get that kind of
      return.

    • the DOJ, SEC, and NRC can be found on the Public Citizen homepage:

      www.citizen.org/Press/pr-cmep1.htm

      • 1 Reply to bk4JC
      • This is a great buying opportunity. Ralph Nader
        whines about nuclear power all the time. His accusations
        are primarily against the NRC for mishandling a
        problem which would not be solved until September, 1998.
        Hey! We made it! The only accusation against USEC he
        has made is that the prospectus didn't warn stock
        buyers about the dangerous conditions in the plants. The
        issue of whether or not there were genuinely dangerous
        conditions is a matter of opinion. Apparently, the NRC's
        opinion was that there was no signifigant danger. Unless
        he has bought shares and lost money because of this
        failure to disclose, he has no standing to complain to
        the SEC.
        Any stock which has held up in the market
        today (Dow down 200) is a good stock to own in this
        volitile market. This is a six year stock. To buy it with
        the idea of selling it sooner is to miss a great
        opportunity. Anyone who cuts and runs at the first whimper
        from Nader doesn't deserve the massive profits this
        stock will yield. The biggest problem will be paying
        the taxes on the fat dividends. The solution is to
        own it in and IRA or 401(k) so the dividends can
        build in a tax-free environment.

 
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