O'Malley, other Md. leaders hail Shattuck's CEG deal

Full story: Baltimore Sun

Two years ago, then-Baltimore Mayor Martin O'Malley and Constellation Energy Group chief executive Mayo A. Shattuck III were trading barbs in public and through advertising campaigns over a proposed 72 percent ...

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Not a political post

Bel Air, MD

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#1
Sep 19, 2008
 
OWE'malley6 has no right to comment on the merger one way or the other. After all, he's the one that effed up the FLP deal in the first place.
Dave

Ellicott City, MD

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#2
Sep 19, 2008
 
Here is O'Malley again, in the spot light when he sees it beneficial to his personal career and agenda. Just a cheap politician in a nice suit. Lets see how he tries to push W.B. around? Bet the boy wonder will meet his match there. And, I am sure Mr. and Mrs. Shattuck are just devastated over the possibility of getting multi-million dollar settlement. Of course he should get at least 20 million after all the CEG was sold for 1/2 of its last week value. How did that happen? You can put suits on dishonest people but they are still dishonest.
LawHoo

Nokesville, VA

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#3
Sep 19, 2008
 
Here we go again.....

This is going to be a real test for the politicians .... can they leave things well enough alone? Or, are they going to screw it up? I've got my money on the latter.

Maryland is good for business... what an oxymoron.
Dave

United States

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#4
Sep 19, 2008
 
To give away a company when you are running scared takes little skill. Shattuck is a coward or maybe worse. This is a stockholder ripoff.
Paul from Rosedale

Baldwin, MD

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#5
Sep 19, 2008
 
Let's be realistic.
If the people of MD want the utility to be socialized, come up with the $4.7 billion. The State can then own the utility and Martin can be its CEO. Mike Miller and Mike Bush can be the Co-Chairs. And little Mr. Pipkin can be the utility bulldog.
I had a large position in CEG stock when these guys killed the $13 billion deal with FPL. I still own a small position now -- and will get $26.50 per share instead of $70 per share thanks to these guys. I know people who have been hurt -- widows and employees of CEG that have significant holdings. It's a tragedy.
It's not a republic vs democrat thing. I was a democrat all my life. In January of this year, I switched. When I was a democrat what they were doing was wrong, now that I'm a republican it's still wrong.
realist

Washington, DC

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#6
Sep 19, 2008
 
What a crock!!! The Unpaper tries to make O'malley AND Shattuck the heros here! Ask the share holders that lost BIG TIME how happy they are with the mayo man. Maybe his trophy/cheerleader wife can shake her pom-poms and make everyone happy. How much is this Master of the Universe going to pocket after killing the company?
Joe

Baltimore, MD

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#7
Sep 19, 2008
 
Yep, MOM trying to get in on the spotlight again. How much money is Mayo Shittake standing to make out of this deal?
Steve Huttle

Towson, MD

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#8
Sep 19, 2008
 
If O'Malley had a conscience he would resign, apologize to everyone whose retirement plan has CEG stock and offer his own personal wealth to ease their pain. He won't. I said it yesterday that the Sun would put a positive spin on CEG being de-valued almost 3 to 1. How quickly they forget that because of O'Malley and the State Legislature's arrogance towards the CEG-FPL that CEG's value declined by $7.9 Billion.

Also, had the original deal gone through customers of CEG would have received $1.62 Billion payout. So Marty can take his $170 check game along with higher rates and realize why 2010 is going to be a bad year for him.
Lynn

Baltimore, MD

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#9
Sep 19, 2008
 
Steve Huttle wrote:
If O'Malley had a conscience he would resign, apologize to everyone whose retirement plan has CEG stock and offer his own personal wealth to ease their pain. He won't. I said it yesterday that the Sun would put a positive spin on CEG being de-valued almost 3 to 1. How quickly they forget that because of O'Malley and the State Legislature's arrogance towards the CEG-FPL that CEG's value declined by $7.9 Billion.
Also, had the original deal gone through customers of CEG would have received $1.62 Billion payout. So Marty can take his $170 check game along with higher rates and realize why 2010 is going to be a bad year for him.
Right, no Baltimore citizen in their right mind would want Constellation to go bankrupt or take it's operations out of Baltimore. If the company survives, they would have to consider going to a state who's legislation is more supportive. Reality is that conpanies merge all the time and i'm sure this isnt the last time this will become an issue so when CEG employees leave and the city dries up, then we can all realize what we've known all along, Omalley has done us a disservice by not supporting businesses.

And O'Malley didn't let the FPL merger go through that that was all to "save you on your utility bills". How is that going? HE SHOULD RESIGN.
Surf52

Baltimore, MD

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#10
Sep 19, 2008
 
Why is it every vacuum seems to s u c k O'Malley into the situation?
Taxed Broke

Columbia, MD

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#11
Sep 19, 2008
 
Hopefully Mayo along with all his Enron friends will finally get the 'bonus' they truly deserve. My advice is to get out of town fast and try and figure out what part of the country to stick it to next. You can take all of our corrupt politicians along with you being very few will be missed. Maybe then this area will return to the “land of pleasant living’ instead of the ‘land of peasant living’.
Dave

Ellicott City, MD

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#12
Sep 19, 2008
 
I guess O'Malley causes himself to be s u c k into every vacuum. O'Malley lied to the undeducated voters who elected him saying that Erhlich and the Republicans caused the 72% rate increase, and he was going to stop it. Which he knew he could not do. He and the cronies in Annapolis caused the Fla. merger to full apart. Now the stockholdres stock value is in the dump. Shattuck and his cronies ran CEG into the ground and will leave with multi-million dollar parachutes. O'Malley will allow this so W.B. can take over CEG. I am sure O'Malley is thinking, "gee if I let WB take over, he will straighten things out and I can get re-elected." And, I need the job because my buddy Hillary didn't get the Presidential nomination, so my chance of being her VP went out the window. O'Malley is for O'Malley, period and that is why he is always involved in controversy.
jimmy

United States

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#13
Sep 19, 2008
 
O'Malley is a clown. He had the company sold in the 60'2 a couple of years ago and it was a stock deal. Therefore no cap gains tax owed on the part of shareholders who are now forced to sell at 26.5 and pay the tax. An absolute clown.
realist

Littlestown, PA

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#14
Sep 19, 2008
 
Well, this happened under the watch of the politicians being quoted. I'm shocked they would be tripping all over themselves to say what a great thing this is. Please.
Fast Eddie

Englewood Cliffs, NJ

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#15
Sep 19, 2008
 
Shattuck is getting a 47 MILLION dollar package. I gues Boy Wonder is happy with that too.
yes

Baltimore, MD

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#17
Sep 19, 2008
 
I saw this comment on another page and i was like, "constellation fan" you said it so well I will just cut and paste it:
Credit ratings ABSOLUTELY caused what happened to Constellation's stock, not executives. Look at Lehman, this is a co that survived the great depression and just went under. AIG, Goldman, Morgan Stanley, you have to realize what is going on in fianace! Do you think Mayo is running all of those companies into the ground too? I dont understand all the hostility toward Mayo, you too can distribute your paycheck to Baltimore every week, why dont you do that? You can become the CEO of a fortune 100 company, its a free country, go ahead. I agree with "Employee", it boils down to jealousy. All i see are comments about mayo and molly and pom poms, its embarrassing that these are the points that the citizens of Baltimore are coming up with on this topic, Pathetic. If you want everyone to distribute their wealth equally then move to a communist country.
Fred

Fredericksburg, VA

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#18
Sep 19, 2008
 
Has not the state learned its lesson? Stay out of it and let the deal go through.

O'malley is quite the business man. Cry foul when it was to be sold for 12 billion, but heap praise when it sells for 4.7 billion. He cost the shareholders allot of money. What a tool he is!!
Fed Up

Sykesville, MD

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#19
Sep 19, 2008
 
You must be kidding. Mayo runs a perfectly good company into the ground and is now a hero because he cuts a deal that will net him 10s of millions? Both him and O'Malley should be taken out and ... oh better careful or MSP will come after me here in the Peoples Republic of Maryland.
Joe

Baltimore, MD

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#20
Sep 19, 2008
 
Fed Up wrote:
You must be kidding. Mayo runs a perfectly good company into the ground and is now a hero because he cuts a deal that will net him 10s of millions? Both him and O'Malley should be taken out and ... oh better careful or MSP will come after me here in the Peoples Republic of Maryland.
His name is Mayo Shittake. As in what he has taken on us.
Mutt

Columbia, MD

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#21
Sep 19, 2008
 
Dave wrote:
To give away a company when you are running scared takes little skill. Shattuck is a coward or maybe worse. This is a stockholder ripoff.
He is anything but a coward. He was the #1 guy at Alex. Brown and was instrumental in making $millions for his company, its shareholders and the companies A.Brown underwrote and took public. What smells like week old foeces is the real dramatic plunge in the Constellation En. share prices followed by its purchase by the one of the shrewdest money men on the planet. He and his Gstaat cronies including Soros have the wherewithal to manipulate markets and drive prices of commodities and financial assets including stocks up or down. This deal smells contrived and Mayo is smart enough to have planned for a profitable exit before he took the helm.

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