Is what the power companies did to California wrong?

[AaronP]

People are really upset about what the power companies have done with relation to California. This is not proven, but if its true, the general complain is that the companies cut back production in order to raise prices and make more money.

OK, I am no expert, but I am a finance major hehe, and one of the things that we learn very early is that the PRIME goal of any public corporation is to increase shareholder wealth. The main way of increasing wealth is to make the stock price go up.

If I were a shareholder, I would be angry if the company didn't cut production and jack up prices!

Now Californian politicians are talking of suing the power companies over this. I say to hell with them, they deregulated it in such a way that the companies did this, and I may be wrong, but I don't think the companies did anything illegal per se, so to California, I say tough! Maybe if the left nut job liberal enviro whackos hadn't been so anti nuclear (or as Homer Simpson calls is nukuler) then they wouldn't be in this bind.

 

[Tauren]

NO. What the LIBERAL tree-huggers did to the Californians is wrong!!

 

[Helpless]

...corporations are always the scapegoats in America. Now, however, prepare for the 100s of replies telling us about the "moral responsibility."

 

[LemonHead]

I agree...I think that deregulation was a complete screw-up. But the power generators totally saw a chance to rape and pillage California and that is just wrong. Sure, go ahead and make a profit, but to blatantly screw California over and over and over again is like a wealthy man taking a breadstick away from a starving kid just because he can.

 

[pulse8]

Why not screw us when they can make us pay to fix it, too?