Thursday, September 22, 2005

JPS & the Z factor

The JPS' CEO says that Mirant made a bad investment in Jamaica. they got $500 million last quarter which was just enough to help Mirant get out of short term bankruptcy trouble (read it in the paper, read for yourself. observer). If that's bad investment, then what is good? What is this Z factor? Why should we pay for their equipment loss? Didn't they know that the tropics are hurricane prone before they bought the company? Didn't they hear of caveat emptor? I think someone was "influenced" to give them this deal. It's too ridiculous otherwise. They still haven't stopped the powercuts. No extra capacity has been consistently maintained. They are taking us for fools? Just because we live int he tropics. I fel insulted. Added to this is the fact that I have to be paying for stolen electricity. Anyway, more on that later.OUR slashed their settlement though. CEO is upset. Said that this will spell disaster for JPS. What a joke! More on JPS Later.

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