In propping up Constellation, don't l...

In propping up Constellation, don't let BGE customers fall

There are 22 comments on the Baltimore Sun story from Sep 18, 2008, titled In propping up Constellation, don't let BGE customers fall. In it, Baltimore Sun reports that:

Just as Merrill Lynch sought solace in the arms of Bank of America over the weekend, just as Lehman Brothers looked in vain for a stable partner, Shattuck knew even back then he might need to tether his own ...

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Roger Bedford

East Hampton, CT

#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!
Paul from Rosedale

Rosedale, MD

#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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