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#22 Sep 18, 2008
Mayo Shattuck is a disaster. He took a conventional electric utility, Baltimore Gas & Electric, and tried to turn it into an energy trading company like Enron. It was Constellation's trading activities that destroyed the company. He was also a disaster at one of his former employers Alex Brown & Sons in Baltimore. He was part of the team that sold AB to Bankers Trust, whose high-flying corporate culture ruined the 200-year-old investment bank. Shattuck should know all about fire sales. Alex Brown was taken over by Deutsche Bank in a fire sale after Bankers Trust neared collapse. NO Surprise here. Good Riddance. Anybody who lets this guy run a company deserves the same fate. Nothing like selling at a 60% discount to its stock price only three days ago. Way to build shareholder value, loser. I'm sure, as in the case of Alex Brown, Shattuck will walk away with a fat golden parachute. All I can say to Constellation's hapless shareholders is Suckers!
#23 Sep 19, 2008
Steven fron Lejune -- 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.
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