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TEPCO says spin-off an option only for the future

15 Comments
By Mari Saito and Kentaro Hamada

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"Spinning off the clean-up project at Japan’s wrecked Fukushima nuclear plant from the rest of operator Tokyo Electric Power Co’s business could be an option in the future if the decommissioning runs smoothly, the company’s president said."

Then how about trying to make it run smoothly, Hirose? This guy is such an ass, and the only reason he doesn't want to spin it off now is because he couldn't hold the government hostage for more hand-outs to try and get back in the black. You want better safety for employees? Stop sub-contracting to yakuza! Stop buying storage tanks and rock-bottom prices to save money!

"Hirose said TEPCO does not permit workers’ pay to be skimmed by the various companies in the chain of contractors operating at Fukushima..."

Obviously you DO allow it by turning a blind-eye.

"of course we want the money to reach the correct place"

That's like going to a shrine and saying this year you are praying for health while you pull out a pack of smokes and the bottle of gin.

2 ( +3 / -1 )

Spinning off? Palming off is more like it! They only want to separate it so they can turn a profit in their electricity business and cry poor on the clean up. If they are serious about 'palming it off' the clean up should go to a single company and do away with this multi-level employment agency BS. All they are ding at present is scamming the gov out if public funds that is going into the coffers of the Yaks and unscrupulous employment agencies. How about a bit of transparency and some government control? Ha bloody ha! Like that would ever happen!

1 ( +1 / -0 )

Total BS... they don't want to spin it off because they would have to reduce rates and not get the "funding" ... but they do want to spin it off to increase the stock price....

Call a spade a spade Tepco you are so transparent!

1 ( +1 / -0 )

I hope TEPCO is not spun off. It is too important to the national economic infrastructure, and the government is certainly not capable of managing it. TEPCO has done the best job possible given the circumstances, aside from a few hiccups that really could be attributed to bad design in the original product. If the government would only get out of the way and let the free market sort this out, we would see the problem resolved and energy prices would be lower for us all.

-5 ( +0 / -5 )

"TEPCO’s plan does not hold shareholders and banks accountable." They don't hold even themselves accountable, for anything! Why they are allowed to continue to run independently is completely incomprehensible.

0 ( +0 / -0 )

Magnet, how is TEPCO responsible for an earthquake and tsunami?

-5 ( +0 / -5 )

TEPCO controls the Japanese government, and TEPCO, like all other crony organizations is going to MILK THIS cash cow for all it's worth.

This is PURE MONEY. Taxpayers would willingly let the govt raise taxes, go further into debt, etc, to "help' TEPCO clean up it's mess, and TEPCO knows this.

How many hundreds of thousands will DIE or GET CANCER so the TEPCO FAT CATS can earn EASY MONEY for the next couple decades????

Of course they didn't CAUSE this horrible disaster, but they are certainly going to take full advantage of it.

0 ( +1 / -1 )

homleand: "Magnet, how is TEPCO responsible for an earthquake and tsunami?"

They are responsible for running the reactors past their safety date. They are responsible for knowingly building on a fault line despite saying they did not know (with Niigata as well). They are responsible for the poor building and upkeep of the structures (including having backup power UNDERGROUND, which makes no sense for either earthquake or tsunami!). They are responsible for ignoring repeated warnings that such catastrophic quakes and tsunamis have happened before and will again. They are responsible for hiring amakudari who fled when they realized it could not be contained (ie. Shimizu, now a consultant on energy elsewhere). They are responsible for not allowing water to be dropped onto the reactors in a timely fashion because they wanted to save them (they are still fighting the government to not scrap #5 and #6, despite Abe's orders!) as sea water would render them unrepairable, and then two of them exploded. They are responsible for countless radiation leaks since the disaster, and the shoddy containers the water is held in. They are responsible for countless suicides by people who were STILL at the time in shelters because they prefer to use government grants to get back into the black instead of paying out compensation. They are responsible for making 60 paged, convoluted request forms for said compensation. They are responsible for hiring groups that use yakuza to recruit 'nuclear gypsies', then claim they cannot control and have no idea whom they are hiring.

I could go on, homleand, but there are fewer and fewer apologists that don't already know that in short: TEPCO is completely IRresponsible and should not only be shut down, but many former and current execs put in prison.

1 ( +2 / -1 )

The radiation from this Nuclear plant is only getting higher. If not for most of the radiation going into the ocean radiation in Japan would be worse. This is a very serious issue that is only getting worse.

http://www.bloomberg.co.jp/news/123-MSF7FN6KLVR801.html

http://uk.reuters.com/article/2013/09/01/japan-fukushima-idUKL4N0GX04J20130901

When this leak was discovered almost two weeks ago, Tepco reported that the radiation level was 100-millisieverts. It now transpires that 100-millisieverts was the highest reading that the measuring equipment in use was capable of displaying. The latest readings (with upgraded equipment) are registering 1800-millisieverts which, according to both news sources, could prove fatal to anyone exposed to it for four hours.

0 ( +1 / -1 )

TEPCO will do whatever they want.

Too big to fail, Too many voided interests.

Even the biggest ever earthquake and tsunami could not change this classic course of the affairs.

Done deal!

-2 ( +0 / -2 )

TEPCO lied through its teeth on Fukushima They cannot be trusted with whatever they say.

0 ( +0 / -0 )

TEPCO is bankrupt because of its incompetence and avidity of profit. They have nothing to say.

3 ( +3 / -0 )

@smithinjapan

Well said!

0 ( +0 / -0 )

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