Constellation to evaluate strategic a...

Constellation to evaluate strategic alternatives

There are 69 comments on the Baltimore Sun story from Sep 17, 2008, titled Constellation to evaluate strategic alternatives. In it, Baltimore Sun reports that:

Constellation Energy Group, the parent of Baltimore Gas & Electric, said this morning that it is in active discussions with "potential strategic partners." Constellation said in a new release that it has ...

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get serious

Glen Burnie, MD

#63 Sep 17, 2008
Surf52 wrote:
I think they should move to another state. H e l l comes to mind.
That would be an improvement on Maryland.

Manchester, MD

#64 Sep 17, 2008
Meanwhile, guess who was out partying & getting drunk while Rome was burning this past week?

Yep, O'Malleys March recently performed at the preview of a new downtown Baltimore bar, according to another Baltimore Sun article.

Obviously, the governor has been very concerned about this growing Maryland energy crisis! HAHA!
stevefromellicot tcity

Ellicott City, MD

#65 Sep 18, 2008
pgp wrote:
Perhaps Mr. Shattuck can tap into the millions from his past years' salary and bonuses to help out his ailing company.
Nice suggestion, but not likely. He's too busy walking across the water, and trumpeting how he adheres to the highest ethical standards.
Club Member

Pasadena, MD

#66 Sep 18, 2008
I don't think Molly Shattuck has been a member of the Raven's cheerleader squad since either the 2005 or 2006 season; so there's not going to be any firing going on there.

For the record, I'm neither an investor nor an employee of CEG, just a guy who lives in Baltimore and would like to see some employer base stay in town.

BTW, look at the performance of Legg Mason's Value Trust fund (down 38% this year vs.-15% for the S&P 500 and it's stock down 50% and you have to wonder how long they'll be around as a standalone entity too.

Glen Burnie, MD

#67 Sep 18, 2008
CLM wrote:
In all the usual tacky name-calling and standard partisan hate-mongering, how exactly were the questionable accounting practices of Constellation the fault of any politician or political party? This implosion began with the discovery that Constellations books were not exactly in order, and has spiralled downward from there.(In case you've forgotten in a mere month:
O'Malley & Ehrlich- haters need to get a grip on reality. The problem is Mayo III & his cronies.

Since: Sep 08

Pasadena, MD

#68 Sep 18, 2008
MikeA wrote:
<quoted text>
O'Malley & Ehrlich- haters need to get a grip on reality. The problem is Mayo III & his cronies.
and a rotten chort-term credit market. Not trying to let Mr. Shattuck off the hook, but there were some external events here that upset the apple cart.
Yu Gotabe Jo King

Baldwin, MD

#69 Sep 18, 2008
(Before it became Enronized into Constellation Energy an energy trading company) Baltimore Gas and Electric was and could still become a major revenue source and cheaper power and energy for the People of Central Maryland if the consumers owned it as shareholders (earning dividends) and ran it as a regulated power company (and God-willing will soon be again). And by the way, the people living in the BGE zone could have purchased Constellation with the rebate money plus a few dollars more. But I guess you have enjoyed having Mr. Shattuck and his cronies blackmailing us with exhorbitant profits at our expense--and threatening us with rolling blackouts just like Enron did to California.
CygnusA81 wrote:
I hope all the communists posting here are happy that a company that was a major revenue source for the city of Baltimore and the state of Maryland is disappearing and all its money will probably go to France.
How about this for tax revenue replacement: lets increase the booze and cigarette tax.
Yu Gotabe Jo King

Baldwin, MD

#70 Sep 18, 2008
Energy consumers of Central Maryland Unite!
We the People of Central Maryland should buy BGE. Let's make Mid-America and Warren Buffett an offer.

"United we stand, Divided we fall"

We don't need Enron.
Do you want a company like that controlling your energy?

"One analyst compared Constellation's credit concerns to Enron, the Houston energy company that quickly sank into oblivion...Constellation has a large, risky and opaque trading book, which debt agencies cited recently as having insufficient control and transparency," Justice, the Morningstar analyst, said in an interview, noting the company functions more like an investment bank than a traditional utility...It trades in electricity, natural gas, coal and other energy products all over the world. Part of that business takes large positions in electricity markets, placing bets on where prices will go."
Eddiebees wrote:
Rich, BGE is still s small little utility. It is owned by a national company called Constellation Energy Group. Your rates aren't impacted by the national concern. Greed is a great populist concept, but unfortunately not true in this case. However, keep writing, you're bound to get a concept right soon.
Yu Gotabe Jo King

Baldwin, MD

#71 Sep 18, 2008
So, Mr. Anti-Democrat,

I take it that you would rather have a massive deregulated interstate and international MONOPOLY that "has a large, risky and opaque trading book, which debt agencies cited recently as having insufficient control and transparency" own your access to heat and electricity and charge you for your consumption of said electricity whatever "the market dictates" (out the wazoo) rather than have the CONSUMERS be shareholders earning reasonable dividends from profits of a highly regulated municipal power company that operates locally using AMERICAN coal, wind, hydro, and nuclear power?

Explain how Constellation has worked better for us and how poor Mayo is and how much he has suffered? Please explain why Constellation's credit was lower and the State of Maryland has a AAA bond rating if it is so poorly managed and so anti-business? Please explain.
Eddiebees wrote:
At the time of the proposed FPL merger it was explicitly stated that such a merger would make Constellation a stronger company and it would insure the strength of BGE. OMalley and fellow democrats in spite of facts and statements to the contrary thought they knew better and killed the merger. How in Gods name can you blame Mayo and give OMalley and the dems a free pass? Wake up!

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