An unauthorized collection of the records of Alternate Energy Holdings, inc., its principals and subsidiaries, and their antics, trials, and tribulations

Former AEHI CEO Don Gillispie

Former AEHI CEO Don Gillispie
OK, everyone, I've got to step out for just a minute. I'll be right back, I promise!

Monday, October 25, 2010

"There's No Downside to Investing in a Nuclear Power Plant"- WhooPPSS!

A few posts back, we got a chance to read chief fantasy correspondent Dan Burgundy Hamilton's explanation of the intricacies of nuclear financing, and how safe a bet investing in nuclear power plants is, especially when led by a guy with 45 years experience in the nuclear industry:

"These are the reasons investors continue supporting AEHI, because they’ve learned there is no downside to investing in a nuclear power plant."

 Hmm.  Try this Time Magazine article from 1983:

"[Washington Public Power Supply System] could not repay $2.25 billion in bonds used to finance partial construction of two now abandoned nuclear power plants in Washington State. It is by far the largest municipal bond default in U.S. history, and the damage is incalculable. The fiasco has robbed thousands of investors of their savings, shaken confidence in the municipal bond market, angered and humiliated the people of the Northwest, tarnished the reputations of some of Wall Street's leading institutions and provoked at least 70 lawsuits that will be clogging the courts for years to come."  (emphasis added)

Maybe Dan doesn't consider the experience of these bondholders a "downside"?

Question two- Why didn't AEHI and Don Gillispie head up to Washington and finish these little projects up with their star-studded winning management turnaround team already in place?

No comments:

Post a Comment