MidAmerican Energy Holdings Co. to bu...

MidAmerican Energy Holdings Co. to buy Constellation Energy

There are 40 comments on the Baltimore Sun story from Sep 18, 2008, titled MidAmerican Energy Holdings Co. to buy Constellation Energy. In it, Baltimore Sun reports that:

Iowa-based MidAmerican Energy Holdings Company has reached a tentative agreement with Constellation Energy to purchase outstanding shares of Constellation for $4.7 billion, or $26.50 per share, Constellation ...

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Rusty Chompers

Baltimore, MD

#1 Sep 18, 2008
Hey, if we can nationalize AIG, why not nationalize Constellation Energy. At least this way we'd get affordable power rates to go along with our new failing insurance company.
Club Member

Pasadena, MD

#2 Sep 18, 2008
Just an FYI, the FP&L deal that was rejected by our legislature was valued at $12.4 billion.
MikeA

Glen Burnie, MD

#3 Sep 18, 2008
Amazing! A decent American like Warren Buffett running Constellation instead of a skunk like Mayo III. Maybe there's hope after all.
FireTrembley

United States

#4 Sep 18, 2008
Buffett is genius. Bought this company for half the price today that he would have paid on Friday last week. Said he'll be letting the business run in tact and autonomously. Good news for the morons over at CEG.
Eddiebees

Stroudsburg, PA

#5 Sep 18, 2008
Hey Club, do you think shareholders have a course of actions against the legislature?
Club Member

Pasadena, MD

#6 Sep 18, 2008
It's called Sovereign Immunity; with very few exceptions you can't sue the government.
Eddiebees

Stroudsburg, PA

#7 Sep 18, 2008
Hey FireTrembley. I might just join you at Mothers if Mayo sells Constellation at $ 26.5 a share. Without the liquidity issues it is still earning $ 5 a share. BTW, I'd argue that Buffet just has plain common sense.
Eddiebees

Stroudsburg, PA

#8 Sep 18, 2008
Club Member wrote:
It's called Sovereign Immunity; with very few exceptions you can't sue the government.
Agreed, it was more rhetorical than anything.
Art

Nottingham, MD

#9 Sep 18, 2008
And so ends the sorry saga of CEG. Less than 10 years old, front loaded with staff, equipment and over a million customers, and it STILL ended up failing.

It was a paper tiger for years. There are no winners in this transaction - except Warren. Shareholders got hosed, and company employees with 401K's will have to postpone that retirement, or settle for a lower standard of living.
Pelham21093

Abingdon, MD

#10 Sep 18, 2008
typical fish wrap reporter. You disagree and your post gets deleted. Gee, I wonder what happened. It was there a half hour ago. Posted between Mike A and Firetrembley. I guess Jay deems innappropiate posts as any post that disagrees with his point of view. Far be it for the readers to exchange points a view
FireTrembley

United States

#11 Sep 18, 2008
Eddiebees wrote:
Hey FireTrembley. I might just join you at Mothers if Mayo sells Constellation at $ 26.5 a share. Without the liquidity issues it is still earning $ 5 a share. BTW, I'd argue that Buffet just has plain common sense.
Common sense with such large issues and dollar amounts equals genius.
chowsearch

Owings Mills, MD

#12 Sep 18, 2008
Um, the reporting did not include any of the speckled history of how non-utility stockbroker management took a local institution to disaster as a trading company, how the ratepayers and employees have suffered, doings by the PSC formerly controlled by anti-consumer Erlich appointees, what the governor has been trying to do and what he might do. So basically, this is a press release, and a pro-Buffett one at that, by a young reporter with non-existent editing at a joint now lacking any institutional memory. And a byline typo. Get with it Sun, or you'll see more employees walking out with their belongings.
Alex

Miami, FL

#13 Sep 18, 2008
Congratulations to the "Small Pond" Baltimore crowd. Don't sell to FPL for $13 Billion - lets break up BGE & BGE Home from Constellation Energy....tell the MaryPIRG crowd, I hope you enjoy having your gas, electric & home repair service managed from Nebraska. See if they care about Baltimore.

Hey Gov. O'Malley...you won't have to worry about Maryland PSC appointments, there's a NEW SHERIFF in town.
Jeff

Baltimore, MD

#14 Sep 18, 2008
Chowsearch, this all falls on Miller's lap. He's the one who shoved deregulation down Glendenning's throat, by the false promise of lower rates through competition. One snag though, they capped the rates that the power companies could charge at below market value. What company in it's right mind would enter a market where they were forced to charge undermarket value rates? Once that 7 year cap came off, WALLA, he we are and there was nothing Ehrlich's PSC could've done, as proven by the nothing the O'Malley's PSC could do. Miller is to blame
Justin

Warren, NJ

#15 Sep 18, 2008
This deal will take so long to work, theoretically the shareholders could vote it down after this immediate credit crunch has subsided and sell assets, leaving Buffet with the fee for backing out and the $1bn in preferred stock. This one is far from over.
Jerrard

Towson, MD

#16 Sep 18, 2008
It won't be long before the Sun spins this whole merger as a victory for O'Malley. I am sure the L.S. is working on that right now.
Surf52

Baltimore, MD

#17 Sep 18, 2008
FireTrembley wrote:
Buffett is genius. Bought this company for half the price today that he would have paid on Friday last week. Said he'll be letting the business run in tact and autonomously. Good news for the morons over at CEG.
That doesn't mean he won't appoint his own CEO and top staff to cut the dead wood. Maybe not such good news.
Nic

Baltimore, MD

#18 Sep 18, 2008
does this affect the bge customers at all? i just purchased a home, and am curious?
Surf52

Baltimore, MD

#19 Sep 18, 2008
Nic wrote:
does this affect the bge customers at all? i just purchased a home, and am curious?
Just empty your pockets and try not to draw any undue attention to yourself.
Big Al

Bethpage, NY

#20 Sep 18, 2008
Thank you Mr. Shattuck for destroying another great Baltimore Company, gouging the consumers, the poor and senior citizens upsetting the balance sheet, wise investments and displacing employees.

May God have mercy on your soul.

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