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Letter: Best business for bad decisions

Posted: January 11, 2018 3:11 p.m.
Updated: January 12, 2018 1:00 a.m.

I now know what business one needs to be in to have your captured customers pay for some of the company’s bad decisions, bad management, bad judgment and bad investments. Since the South Carolina legislature deflected the financial impact and outcome of such problems from the company and its stockholders to the customers, it is obvious that it is very advantageous to be in the electrical power generation and distribution business. What is going on with SCANA and Santee Cooper regarding the failed nuclear expansion project is very shameful – and maybe even criminal.

The legislature itself is very guilty of poor foresight and inaction at critical points, but the involved companies behaved unbelievably. The negative financial results of such should fall completely on the assets and stockholders of these companies. For both companies, the entire boards should resign and the executive staffs should be immediately fired without severance benefits.


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