Southern Co. taking $450M charge for Miss. plant
Southern Co. shareholders will absorb $450 million in losses incurred while building a new coal-fired power plant in Mississippi, raising the total write-offs on the construction project to nearly $1 billion, utility officials said Tuesday.
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#1 Jul 31, 2013
This is all about poor management (i.e they redid the books and found $450M in costs they hadn't accounted for??). The technology is certainly not 'bleeding edge' but they probably don't have the experts in their company as they have never done anything LIKE this before.
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