Alcoa responds to Gov. Bev Perdue's request to Federal Energy Regulatory Commission to 'recapture' Yadkin River projects in this news release from a spokesman:
APRIL 1, 2009 – Alcoa Power Generating Inc. issued the following statement in response to a motion filed by N.C. Gov. Bev Perdue today to intervene in the federal relicensing of the Yadkin Hydroelectric Project in central North Carolina:
The State of North Carolina took an unprecedented step today by pursuing the takeover of a privately-owned business that has roots in North Carolina dating back to 1915. It’s a move that could ultimately cost North Carolina taxpayers more than $500 million.
Alcoa does business in 34 countries around the world and it’s extremely rare to be faced with a situation where a state government wants to seize one of our businesses and operate it for its own benefit. Every other business owner in North Carolina should be concerned about the dangerous precedent this action sets.
Gov. Perdue’s motion to intervene in the federal relicensing of the Yadkin Hydroelectric Project comes more than six years after the federal relicensing process began. Throughout this process, agencies representing the State of North Carolina have been actively involved and the State’s interests have been well protected.
Alcoa has invested heavily in the Yadkin Project and will fight to ensure that it receives full value for its property if the State of North Carolina moves forward with this ill-conceived policy.
Wednesday, April 01, 2009
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5 comments:
Alcoa needs to read their application to see the price that they acknowledged was proper for recapture of our water.
Its not a takeover of a privately owned business so much as a landlord kicking out an undesirable tenant. Don't they have a mess to clean up out there?
Alcoa should take down those dams and restore the river to the way it was. If God had wanted Stanly County to have lakes he would have made them. I might buy me a lot on the river in front of all those former lake houses. I'm sure the government will be more efficient than private industry at making power.
The government should take over all business.Government elected officials have proven they are better at running business than anyone else.
"The government should take over all business.Government elected officials have proven they are better at running business than anyone else." What kind of drugs are you doing??? The purpose of a business is to MAKE a profit! The government is running its "business" at TRILLION dollar loses (Read: DEFICIT!) If the government ran a lemonade stand in my nieghborhood, they would pay 5 x the market price for lemons and sugar, subsidize the farmers who produced it, offer full benefits to the ILLEGALS working on the farms because of the subsistence wages they allow the agricultural conglomerates to pay. They would then sell it at less than market prices to everyone who "could not afford" to buy it because it is "their right" to have lemonade. At the end of the day, they would force everyone in the neighborhood to pay a tax to cover the losses the incurred and the useless studies that would waste MORE money to determine why they are losing money! Oh, and by the way, if you don't like lemonade - too bad, you have to pay anyway. And if you complain about any of it, you are branded "Un-Patriotic!!"
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