Constellation seals deal for its sale

Constellation seals deal for its sale

There are 6 comments on the Baltimore Sun story from Sep 20, 2008, titled Constellation seals deal for its sale. In it, Baltimore Sun reports that:

Constellation Energy Group sealed an agreement yesterday allowing Warren Buffett 's MidAmerican Energy Holdings to buy the company for $4.7 billion, even as the Baltimore firm's largest shareholder was reported ...

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Bel Air, MD

#1 Sep 20, 2008
glad I bought more shares yesterday...can't wait until Monday....go

Bel Air, MD

#2 Sep 20, 2008
Although I'm almost positive a more substantial deal will materialize (depending on the breach penalty agreed to with Buffet's sub), no mater what, Marty O'Malley and his band of idiotic thieves have let Baltimore's Fortune 500 Companies be cut in half. This will result in job loss, corporate sponsorship/charity loss, prestige loss and ill generally destabilize the Baltimore economy. No mater how this is spun, it is not good news for Baltimore or MD. I'm no Shattuck fan, that (expletive not typed) "person" took unnecessary and irregular risks with an energy company. I sure hope that Marty prosecutes his rear end for securities fraud and general irresponsible behavior. There is no good reason that an energy company has gotten caught up in this credit mess. Absolutely none!

Woodstock, MD

#3 Sep 21, 2008
Maryland's Democrat legislature monopoly & governors created today's free-market energy crisis mess in Maryland and turned down 2 better merger proposals for BGE/Constellation over the past decade, 1 with FPL, and 1 with DC based PEPCO. They have no one to blame but themselves. I'm not taking Shattuck's side, mind you, that man has been kicking the tires of golden parachutes for a decade now, but the political grandstanding and anti-business hatred in Maryland ultimately cost Maryland jobs and hurt its citizens, and mostly the poor too.

I'm sure Gov. O'Malley will grandstand on this issue as usual as a friend of the poor and make all kinds of phony threats to prosecute Shattuck, but in the end, nothing will happen, business as usual in Maryland, as in LESS BUSINESS and jobs as jobs will be lost here for certain. Maryland will also lose another Fortune 500 company while other states gain, attract, and dare I say it, ummm, support them and the jobs they create in a state.

Gov. O'Malley is a proven defender of the poor.
Unfortunately, that's only because he keeps creating MORE POOR PEOPLE to DEFEND!

Woodstock, MD

#4 Sep 21, 2008
Oh, and The Baltimore Sun reported that O'Malley's March played a concert at a new bar that opened downtown recently, so I'm sure the Gov is very concerned about this whole mess, so much so that he got drunk, played some rock and roll, and partied like its 1999! LOL

Woodbridge, VA

#5 Sep 21, 2008
Everyone, please send a message to MidAmerican with the recommendation that they fire the currently executives of Constellation as soon as the purchase is complete. Also, inquire about their ability to lower our rates since they are acquiring Constellation at a great price.

MidAmerican sounds like a great company! Let's welcome them to Maryland and let them know what we have been suffering through!

Here is the online form:

Woodbridge, VA

#6 Sep 21, 2008
I just pulled up the MidAmerican residential rates for Illinois.

In the summer, the rate is only $0.0784 per KW and in winter, it is just $0.06068 per KW.

I know MD electricity is no longer regulated, but let's hope that MidAmerican will respect the difference between earning shareholders a buck and greed.

I am hoping this deal goes through. From what I understand, Constellation will be staying in Maryland. They may cut some "fat," but otherwise, things are going to pretty much remain the same.

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