BGE parent in play

BGE parent in play

There are 16 comments on the Baltimore Sun story from Sep 18, 2008, titled BGE parent in play. In it, Baltimore Sun reports that:

Constellation Energy Group, one of only two Fortune 500 companies in the region, said yesterday that it is in active discussions with "potential strategic partners," a process that could include the sale of the ...

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SOUTHERN MD JOE

AOL

#1 Sep 18, 2008
another greedy bunchhhhhh. they hibernate here in maryland
Northern MD Joe

Belcamp, MD

#2 Sep 18, 2008
SOUTHERN MD JOE wrote:
another greedy bunchhhhhh. they hibernate here in maryland
Yes, the democrat politicians, so greedy for power. It was erroneously reported on WJZ this morning that the MD public service commssion opposed a merger with Florida Power & Light 3 years ago but it was actually the MD legislature and Martin O'Malley that opposed it for political reasons. Now we may be getting our electricity from a French company.
MikeA

Glen Burnie, MD

#3 Sep 18, 2008
Mayo III & his greedy pals are the culprits here. They took a good company & ran into the ground. They'll get their comfortable golden parachutes, land jobs with other corporate pirates, & we'll get the bill.
Barbara

Silver Spring, MD

#4 Sep 18, 2008
Talk about irony -- I'm sitting here reading this article about Constellation's demise, and just now on TV a commercial played for the Constellation Energy Classic. I don't know whether to laugh or cry.
afmca

United States

#5 Sep 18, 2008
I see the Ehrlich kool-aid group is out early today with the MD Joes ... first why would you think merging with Florida Power would have made CEG more responsive to their customer base. if you would have actually followed the planned merger back then you would have noticed that Fla. Power had worse customer relations, a weaker balance sheet, exists in a hurricane zone wirh potential huge loses, and the merger would have done great things to enhance CEG management's bonuses, but nothing positive would have occured for the customers.

CEG is in the position it is in because it is another in a long string of American corporations run by greedy, incompetent management that cannot exist in a competitive environment. They, like Enron, can only exist if the can covertly manipulate the market; once exposed they start to fail.

As long as they had their rubber stamp PSC commission under Ehrlich they were fine in overcharging customers, but under scrutiny of the new administration their ability to rip off the consumers weakened.

I hope they do get the ability to add to Calvert Cliffs - MD needs the power and this would enhance their balance sheet; but what MD really needs is a truely competitive environment where well run, customer focused companies compete.
Old Fan

Parkville, MD

#6 Sep 18, 2008
Just what we need, our energy company being run by a bunch of " liberal frogs" from Europe. Mayo Shadduck (who in the hell would give a kid that name, his parents didn't like him much and now the public doesn't either)and the rest of his blood sucking leach cronie friends might have to get real jobs. Oh! Too damned bad. The public gets the shaft again.
FireTrembley

United States

#7 Sep 18, 2008
Stupid CEG. Good riddance. Whoever survives the purge can enjoy working for their new French bosses.
IntheNews

Houston, TX

#8 Sep 18, 2008
Warren Buffet just bought Constellation
FireTrembley

United States

#9 Sep 18, 2008
WOW Buffett...good news for CEG...or is it?

Since: Aug 07

B'More, MD and Lake County, FL

#10 Sep 18, 2008
afmca wrote:
I see the Ehrlich kool-aid group is out early today with the MD Joes ... first why would you think merging with Florida Power would have made CEG more responsive to their customer base. if you would have actually followed the planned merger back then you would have noticed that Fla. Power had worse customer relations, a weaker balance sheet, exists in a hurricane zone wirh potential huge loses, and the merger would have done great things to enhance CEG management's bonuses, but nothing positive would have occured for the customers.
CEG is in the position it is in because it is another in a long string of American corporations run by greedy, incompetent management that cannot exist in a competitive environment. They, like Enron, can only exist if the can covertly manipulate the market; once exposed they start to fail.
As long as they had their rubber stamp PSC commission under Ehrlich they were fine in overcharging customers, but under scrutiny of the new administration their ability to rip off the consumers weakened.
I hope they do get the ability to add to Calvert Cliffs - MD needs the power and this would enhance their balance sheet; but what MD really needs is a truely competitive environment where well run, customer focused companies compete.
How is the PSC under St. Martin any different than the PSC under the previous administration? Oh, I know the PSC under MOM is far better paid than under Erlich.

Can you give any examples of this increased scrutiny you reference in your post? BGE and Constellation have been ripping Marylanders off for years thanks to Paris Glendenning. Nothing has changed under MOM's administration.

I see that you have been sipping the blue kool aid.
Jane

Joliet, IL

#11 Sep 18, 2008
Do any of you understand the ripple effect a huge corporation like CE going bankrupt & 5 thousand plus taxpayers leaving baltimore will have on this city?? The real estate market, local businesses, restaurants. Think about that before you comment and wish ill will on people for the simple fact that they are smart and successful. Maybe go back to school and get better jobs for yourselves, instead of whining
FireTrembley

United States

#12 Sep 18, 2008
Jane wrote:
Do any of you understand the ripple effect a huge corporation like CE going bankrupt & 5 thousand plus taxpayers leaving baltimore will have on this city?? The real estate market, local businesses, restaurants. Think about that before you comment and wish ill will on people for the simple fact that they are smart and successful. Maybe go back to school and get better jobs for yourselves, instead of whining
Hey Stupid Jane,

I understand quite well. I have an education and a job that lets me use it. I also work for a company that has responsible leadership and not some pea-in-shell man at the helm. As for restaurants and businesses closing that hardly effects me...I'll just eat at home. The housing market dropping is great for me as well...I rent and was planning to buy next year so this is very timely...I was actually disappointed that Buffett swooped in to bail out this crappy company. I'm still holding out hope that he liquidates the place.
Jane

Joliet, IL

#13 Sep 18, 2008
thats a good solution to the lose of state revenue - live like a hermit, brilliant

Since: Aug 07

B'More, MD and Lake County, FL

#14 Sep 18, 2008
Jane wrote:
Do any of you understand the ripple effect a huge corporation like CE going bankrupt & 5 thousand plus taxpayers leaving baltimore will have on this city?? The real estate market, local businesses, restaurants. Think about that before you comment and wish ill will on people for the simple fact that they are smart and successful. Maybe go back to school and get better jobs for yourselves, instead of whining
The 5,000 taxpayers you talk about still may be leaving the area. We do not know what Buffett is going to do with CE once he gains control. If I was him, I would consolidate many of the functions of CE with its new parent company. This does not look good for Baltimore.
Jane

Joliet, IL

#15 Sep 18, 2008
Rocko the Magnificent wrote:
<quoted text>
The 5,000 taxpayers you talk about still may be leaving the area. We do not know what Buffett is going to do with CE once he gains control. If I was him, I would consolidate many of the functions of CE with its new parent company. This does not look good for Baltimore.
Right - you can thank O'Malley for not letting the FPL merger go through and not supporting big business. It's about the most ignorant thing you can do to your state. History reflects that Buffet normally leaves companies where they are though. I hope CE makes it, they do a lot for our community. You can also read about that in the Sun.

Since: Aug 07

B'More, MD and Lake County, FL

#16 Sep 19, 2008
Jane wrote:
<quoted text>
Right - you can thank O'Malley for not letting the FPL merger go through and not supporting big business. It's about the most ignorant thing you can do to your state. History reflects that Buffet normally leaves companies where they are though. I hope CE makes it, they do a lot for our community. You can also read about that in the Sun.
Buffett has a history of leaving good companies with good management intact to be run mostly independent of Berkshire Hathaway. Hopefully, Mr. Buffett will see through Mayo Shattuck's vapid character and can him. Although once canned, Mayo will be able to jump off the ship well secured by his $50M golden parachute. Sick!

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