Monday, February 25, 2008

NY Sells its Infrastructure

National Grid (English/Wales) merged with Niagara Mohawk in 2000. National Grid merged with KeySpan in 2007 http://www.nationalgridus.com/information/index.asp Now Energy East may merge with Iberdrola (Spain) http://www.dps.state.ny.us/Case_07-M-0906.html. There's speculation that Iberdrola may be subject to a hostile takeover from a French company before they even complete their merger w/ Energy East http://www.dps.state.ny.us/07M0906/07M0906MotPstpn2-5.pdf.

Remember Energy East is the company that still lists Walter Rich on their board of directors even though he has been dead for 6 months. http://phx.corporate-ir.net/phoenix.zhtml?c=104038&p=irol-govmanage Being alive must not be a prerequisite for the job.

It wasn't too long ago that there was a boycott on "French" fries, and terrorist talk is never-ending, but no one seems to be too worried that foreign companies essentially have control of our electrical infrastructure.

When I talked to a NYSPSC person about this issue, s/he said "would you rather have all those rich NIMO executives spending massive amounts of money on food/wine/lodging?" I said, "well now all those rich English/Wales executives will be spending massive amounts of money on food/wine/lodging ---but not in the US."

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