Outbidding Buffett

Outbidding Buffett

There are 43 comments on the Baltimore Sun story from Sep 23, 2008, titled Outbidding Buffett. In it, Baltimore Sun reports that:

One of Constellation Energy Group 's largest shareholders formally protested the company's $4.7 billion sale to Warren E. Buffett 's MidAmerican Energy yesterday, saying it had offered a substantially higher ...

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Rages

Parkville, MD

#1 Sep 23, 2008
Shareholders should sue if Shattuck pushes an inferior offer.
baltomoreon

Odenton, MD

#2 Sep 23, 2008
I wouldn't trust the cheerleaders husband to park my car, let alone negotiate the sale of my power company. I want the French to buy it. They build nuclear power plants better than the US and that's where we need to go. Expand nukes, regulate the new plants that we encourage to be built in MD and send Mayo back to San Francisco where he came from. I bet there's at least 500mil buried in the Buffet deal for him. Also, remember Buffett is the one who forced the Busch family to give up Budwiser to an overseas firm to help prop up Berkshires shares at a great expense to US workers(Berkshire owned 15% of Bud). This guy is no saint, which is why he and Mayo are so tight.
Southern MD Joe

AOL

#3 Sep 23, 2008
yes let's just sell out to all these Out side Countries.
Don't forget to reward Shattuck.
Whitewater

Chantilly, VA

#4 Sep 23, 2008
Should anyone be surprised with the final outcome for Constellation. The executive leadership team changed this once stable utility into an investment house piggy bank. Now unfortunately, the market went down and they were too leveraged to cope.

Its a shame over the years Constellation dumped valued employees, it mission to provide quality electric service to Central Maryland and to run power plants.

Anyone who worked there in the past knew this scheme couldn't last, financing its brokerage business on the backs of hard working employees who gave the company creditability in financial markets.

Mayo and his team said bad performers should not be tolerated. Well Mayo and his team led by his CAO Perlman, who came from a company known as Enron, showed their true leadership skills and took this company to the brink of a 2nd Enron. As Mayo and his team used to say, you pay for results and not efforts. Well lets hope they don't let Mayo and his executive team be rewarded for their poor efforts and face jail time for their ruining of the average employee's at Constellation 401K.
Marie

Smithsburg, MD

#5 Sep 23, 2008
Pray tell, what will happen to Bushie son-in-law.
Debt Society

Washington, DC

#6 Sep 23, 2008
Mayo Shattuck and all of his CEO buddies running their companies into the ground should only be paid in stock, with the value of it being determined when the company is sold. Only then might they have an incentive to ensure that the company performs well.
FireTrembley

United States

#7 Sep 23, 2008
Mayo is going to have some explaining to do. You'd think a man of his supposed intelligence would know better than to try and keep a $6.2B offer from his shareholders. I'm sure EDF wasn't offering him the same golden parachute Buffett was so he tried to bury the deal. This guy should never be allowed to run any sort of publicly held company again. If this deal falls through with Buffett he should have to pay the $175M breach of contract penalty out of his pocket.
Shore Nuff

Gwynn Oak, MD

#8 Sep 23, 2008
Marie, I too wonder if Mr. and Mrs. Newlywed Bush will soon be leaving Federal Hill.

The sooner the better, please.
name not important

United States

#9 Sep 23, 2008
Debt Society wrote:
Mayo Shattuck and all of his CEO buddies running their companies into the ground should only be paid in stock, with the value of it being determined when the company is sold. Only then might they have an incentive to ensure that the company performs well.
An excellent idea, what could be more fair? You'll never see it cause they're rigging the game their way, to heck with the shareholders (all they get really is a few crumbs now and then).
Sandtown

Baltimore, MD

#10 Sep 23, 2008
Shattuck and his cronies need to go to jail. All their wealth should be redistributed to the employees they have screwed. Put their families out on the street and just maybe these Robber Barons will think twice before doing this again.
Get n Real

AOL

#11 Sep 23, 2008
Lawn signs on Statue of Liberty Island:
For Sale
No Offer Refused Relocation Not An Issue
Sold As Is
FireTrembley

United States

#12 Sep 23, 2008
Shore Nuff wrote:
Marie, I too wonder if Mr. and Mrs. Newlywed Bush will soon be leaving Federal Hill.
The sooner the better, please.
They'll take a bath on that house they just bought if they do. No way they are going to be able to sell it for what they paid for it if CEG lays a bunch of people off.
FireTrembley

United States

#13 Sep 23, 2008
Sandtown wrote:
Shattuck and his cronies need to go to jail. All their wealth should be redistributed to the employees they have screwed. Put their families out on the street and just maybe these Robber Barons will think twice before doing this again.
There is something wrong with the system when someone can run a company into the ground, sell it for half of what it was worth a year ago and walk away with nearly $50M.
Pearl

Hunt Valley, MD

#14 Sep 23, 2008
I JUST KNEW THEY WOULD SELL OUT TO A EUROPEAN COUNTRY!!!! I wonder how long it will be before we need to start learning French, German or Chinese in order to call any of our utility companies?
AVC

Towson, MD

#17 Sep 23, 2008
I heard on local radio about EDF being the buyer of CEG a day or two before the Buffett purchase was announced and then there was no mention of EDF. My initial thought once I heard that Warren B. was the buyer was that I didn't know he owned EDF, and of course, he doesn't.
Barbara

Silver Spring, MD

#18 Sep 23, 2008
Get n Real wrote:
Lawn signs on Statue of Liberty Island:
For Sale
No Offer Refused Relocation Not An Issue
Sold As Is
Your comment makes no sense.
Joe

Gwynn Oak, MD

#19 Sep 23, 2008
Pearl wrote:
I JUST KNEW THEY WOULD SELL OUT TO A EUROPEAN COUNTRY!!!! I wonder how long it will be before we need to start learning French, German or Chinese in order to call any of our utility companies?
They sold it to an American. The French company already owned 10% of CEG.
huh

Baltimore, MD

#20 Sep 23, 2008
Pearl wrote:
I JUST KNEW THEY WOULD SELL OUT TO A EUROPEAN COUNTRY!!!! I wonder how long it will be before we need to start learning French, German or Chinese in order to call any of our utility companies?
It's already happened..credit car companies, Dell Computers, you name it..we are owned by the Chinese..think of all the items at Target and WalMart...
Surf52

Baltimore, MD

#21 Sep 23, 2008
Shore Nuff wrote:
Marie, I too wonder if Mr. and Mrs. Newlywed Bush will soon be leaving Federal Hill.
The sooner the better, please.
What does that matter to you? Get a life.
Surf52

Baltimore, MD

#22 Sep 23, 2008
Marie wrote:
Pray tell, what will happen to Bushie son-in-law.
Who really cares?

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