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F*O*A*D

On 3/21/14, 11:57 PM, wrote:
On Fri, 21 Mar 2014 21:24:16 -0400, F*O*A*D wrote:

Duke Energy is in hot water again over coal ash. Earlier this month,
local environmentalists noticed Duke was pumping down coal ash lagoons
at a retired power plant. That triggered an investigation that ended
yesterday, when the state Department of Environment and Natural
Resources announced that Duke had illegally pumped 61 million gallons of
coal ash-tainted wastewater into the Cape Fear River.

- - -

Duke Energy, I've read, is the largest power plant company in the
country, and it has created a large number of serious environmental
disasters, some through accident and carelessness and some, as this
newest one, deliberately.

The company should lose its licenses and the plants taken over by
companies who will have the public's interest in mind. Fining Duke
Energy isn't the answer...it just will pass those fines along to those
who have to buy power from it. It's too bad shareholder liability is so
limited in this country, even when a corporation knowingly does the
wrong thing, as in this latest dump of pollution. Sticking shareholders
with the bill for the cleanup might help, and so would jail time for the
corporate execs.

I have no problem going after the actual people who thought it was a
good idea to break the law but that probably was not anyone in the
CEO's office or any stock holder and it certainly wasn't the
customer's fault.
Maybe some plant manager or engineer should do some time.

I am happy that you recognize that anything you do along the lines of
charging corporations more money is passed on to the customer or taken
away from the stock holder.
The corporation itself may actually end up making more money. You just
have to look at the tobacco companies to see that.

The problem with fines is that they do not punish the corporation
enough, and they're just another cost of doing business. Taking money
from the shareholders might help, as with Duke losing its licenses and
senior execs being prosecuted. Shareholders own the company. Perhaps it
is time to end their ability to distance themselves from the disasters
their investments cause.

--
Rand Paul & Ted Cruz…your 2016 GOP nominees, because ‘Mericans deserve
crazy!