« Tony Snowjob: Bush Knew About It Before He Didn't Know About It | Main | You need some ugly in your life »

February 21, 2007

Nationalize TXU?

I am so sick of whiny ass corporations it's starting to make me sick. The problem is, we have a corporate welfare system in this country where we coddle corporations and shareholders and yet these people still complain about how horrible any regulation is. Tell you what, if you think having to go before a regulatory agency is such a horrible circumstance, imagine how much less you'd like it if the state legislated the dissolution of the company. I'm serious about this y'all. Why is it that TXU, with nothing but advantages, can't manage to outperform Austin Energy, a small municipal utility?

Maybe it's time we nationalized the power companies and brought them fully under the control of the state. Having a publicly owned utility has certainly worked to the benefit of consumers in Austin. Why shouldn't everyone in Texas enjoy that? It's clear from all of Kim Morgan's whining that they just can't cut it...

TXU spokeswoman Kim Morgan said the company is "disappointed" in the decision.

"Every day that a solution is delayed leaves older, less efficient power plants online too long — affecting prices and clean air," Morgan said. "And it brings us one day closer to the potential of widespread blackouts.

Kim, your employer damages public health as part of it's business providing power to people in Texas. Naturally, those people want to know their health is protected and TXU cleans up it's act going forward. That's why regulation exists, to restrict corporations from going too far in search of profit. Keep in mind, corporations exist only to make it easier for people to pool capital and operate a business. They aren't, in and of themselves, something that has more rights than any individual. The existence of TXU is TOLERATED by individuals who authorize the state to charter them. That can change quickly and your bitching is making that more and more likely. If I were you, I'd rethink my attitude, thank Judge Yelenosky, and talk about how happy TXU is to be allowed to operate in Texas.

The thing that consistently amazes me is that more shareholders aren't pissed as hell about the job being done by Kim and her fellow employees. These shareholders stand to lose substantial capital if these companies go too far in their efforts to control the regulatory environment. Further, the greed of management in charging dramatically higher prices than companies like Austin Energy could well backfire and trigger the nationalization of the company. I'd also like to know exactly what the pollution footprint of TXU REALLY is. Trust me, Kim, there are some questions you don't want asked so I like I said it's really best to keep your mouth shut. Thank God Judge Yelenosky decided to override 39%'s fast track EO because 39% doesn't give a shit about public health unless it's being effected by HPV.

State District Judge Stephen Yelenosky ruled that four environmental groups "are likely to prevail on their argument that the governor lacks the authority" to issue an executive order telling a state agency to hold hearings and reach a decision by a specific deadline.

Yelenosky ordered the State Office of Administrative Hearings to ignore Perry's demand that hearings on new power plants be limited to six months.

He did not specifically halt a hearing scheduled for today on TXU Corp.'s request for permits for six coal-fired plants, but he told the state's administrative law judge to reconsider requests for a delay from environmental groups.

While Yelenosky's order did not specifically relate to the controversy over the human papillomavirus vaccine, HPV, it was the first judicial ruling that indicated a governor does not have the power to direct state agency operations by executive order.

Kim doesn't understand that if TXU can't deliver power under the regulations established by the state of Texas then there is little point for TXU to exist as a public company. Given the comparison between electricity prices in Austin and Dallas, one has to wonder if there is any case for the continued existence of TXU. At the very least, the shareholders should be moving to rid themselves of the management team rapidly.

Posted by mcblogger at February 21, 2007 02:22 PM

Trackback Pings

TrackBack URL for this entry:
http://www.mcblogger.com/movabletype/mt-tb.cgi/1629

Comments

AMEN brother!!!!!

If the free market gives me higher rates, then fuck them!

Posted by: johncoby at February 21, 2007 05:42 PM

I have a question. The pr person talked about how not approving the plants delayed getting cleaner plants on line. The clean air act came into being in 1972. Probably TXU had existing plants grandfathered in at that time. Have they built new plants since 1972? Have they done anything to bring their older plants into compliance?

MKC

Posted by: Deja Vu at February 21, 2007 09:04 PM

Post a comment