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I've got nothing funny or even chatty to say today, Lord. Instead, this is just a quick note to let you know that Entergy needs blessings because:
- Entergy expects to show an 8 percent drop in fourth-quarter 2008 earnings.
- Entergy shares closed at $77.37. That is way, way down from the company's 52-week peak of $123.27.
Praying this "quick note" way, Lord, not with my usual obsequious tidings but with unprecedented efficiency, I realize to my dismay that almost two weeks ago I knew things were looking bad for Entergy financially, but I FORGOT TO PRAY FOR ENTERGY in any manner at all!
On January 9 I knew that Deutsche Bank had downgraded Entergy stock to "Sell" status from "Hold." On January 9 I also knew that Reuters had reported that Entergy had suspended applications to build two new nuclear plants, one in Mississippi and one in Louisiana.
I knew. I even posted about these matters on iBrattleboro and emailed a few members of the press. But I didn't pray.
My bad(s).
Lord, to be clear about how dire things are looking right now, these tidbits of bad news about Entergy do not seem to reflect an industry-wide slump. Nor do they seem to be attributable to the recession. Indeed, according to Reuters, Exelon, the nation's largest nuclear power operator, is doing just fine.
I pray now, today, at last, for Entergy's financial health. Hear me, Lord, and do not let these several financial disappointments belie an underlying, critical weakness that could forever change the energy, tax, and business landscape here in Vermont. Do not let an Entergy collapse leave Vermonters with no privileged power deal and a billion-dollar toxic mess to clean up. For that would leave me without an employer, an employee cafeteria, or a health plan. I pray for Entergy, Lord, and as I do I pray, too, for J. Wayne Leonard. He is CEO of Entergy, and he and his minions have done a swell job of convincing many people--and, indeed, many legislators--that Entergy is financially hearty AND that it is ready to step up to the plate on all sorts of matters about which it has not actually agreed to step up to the plate. Would you give Mr. Leonard my personal regards, Lord? Golly, I admire him. Why, I think he is just about one of the smartest guys in the room.
Amen,
Fake-Rob
1 comment:
RE: the Caymay Islands connection: here's what another smart guy has to say about it. "AMY GOODMAN: Can you talk about—well, in Mother Jones, “Fiscal Therapy” is the title—“Getting the economy back on its feet, giving taxpayers a break, saving your retirement fund and your kid’s college tuition? Done. And it won’t cost you a penny.” What is it that you are laying that you feel could save the economy?
DAVID CAY JOHNSTON: Well, fundamentally, several key pieces. One is, you and I are allowed to save, if we have a 401(k) plan, up to $22,000 a year without paying taxes; if we don’t have one, up to six, if you’re an older American. But executives, movie stars, athletes are allowed to save unlimited amounts of money. Hedge fund managers, unlimited amounts of money, without paying taxes. We should end those deferrals. It will bring in hundreds of billions of dollars.
Secondly, the Cayman Islands and other little parasitic operations like it are causing enormous damage to the state of our government’s finances. In 1990, about ten percent of corporate profits were taken in tax havens like the Cayman Islands. Today, it’s roughly one-quarter of all corporate profits. The only purpose served by these operations is to reduce the financial viability of the United States of America government. There’s no reason for us to continue allowing these rules. And the ways that individuals use the Cayman Islands are the same devices that are used by terrorist organizations and narcotics dealers to hide their money, as well as spouses trying to cheat the other spouse in a divorce. " Read the whole interview here at http://www.democracynow.org/2009/2/2/david_cay_johnston_more_corporate_tax
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