Japan insider: Breakup is only a matter of time as Tepco runs out of cash — “We’re basically waiting for the natural death of Tepco”

Published: July 8th, 2011 at 3:41 pm ET
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Japan Examines Future of Tepco, Wall Street Journal by MITSURU OBE And KANA INAGAKI, July 8, 2011:

A government-led panel looking into the future of Tokyo Electric Power Co. is keen to wrest monopoly power away from Japan’s largest utility, but it has for now put aside more radical proposals to break up the company and sell off [...] its transmission networks, which are estimated to be worth as much as ¥5 trillion ($62 billion), enough to handle the likely compensation claims from the nation’s worst-ever nuclear accident.

A person close to a senior government official who favors such a plan said the government won’t push for it at present as it doesn’t want to panic the markets but that a breakup is only a matter of time as the company runs out of cash under the weight of compensation payments and other costs.

“We’re basically waiting for the natural death of Tepco,” the person said, a move that would likely wipe out shareholders and force banks to accept debt waivers. [...]

Published: July 8th, 2011 at 3:41 pm ET
By
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44 comments

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44 comments to Japan insider: Breakup is only a matter of time as Tepco runs out of cash — “We’re basically waiting for the natural death of Tepco”

  • BreadAndButter BreadAndButter

    I can’t wait


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  • farawayfan farawayfan

    Same will be said of the government of Japan in about a year.


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  • CB CB

    We’ll anybody want to work for free to save the plant?


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    • cossack55

      There is a word for that….slavery. The scum will prefer you die before they lose a dollar. You may wish to save the planet, they will stop you by any means possible. They are death merchants. BTW, “they” are the TBTF banks.


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  • cossack55

    Screw the “natural death” Behead the MoFos.


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  • StPaulScout StPaulScout

    I think once number 3′s SFP went up, it realy is a moot point. Tons of MOX.


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  • Misitu

    Again, WAITING.

    Is that all they ever do?

    Probably time for a rare rogar al dios, if enough sincere folks already in the queue it might just work.. now what might we want? something that would not violate the laws of nature…

    let’s play with this picture

    Mental paralysis of the government and economy in Japan, followed shortly by an invasion from a China desperate to save its own skin from nuclear fallout, followed shortly by a Russian led clean up directorate, followed shortly by a medically managed Japanese diaspora… followed by total loss of reputation and trust in the nuclear power industry and a concerted global clean up effort.

    How does that suit you?

    Non denominational.

    Sincerely,
    Misitu, Peru.


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    • alasanon

      I hear you! Is going in slow-motion a side effect of radiation??

      What more does it take to get them moving? Do they even have emergency services there with any degree of urgency?? This would be a 10 alarm fire!!

      TEPCO is tepid. The World is waiting @4 months running!


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      • charlie3

        TEPCO doesn’t want to spend any money fixing Fukushima’s reactors.
        THAT is why they have done nothing to fix the disaster – it would cost them money.


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        • alasanon

          But, I think it comes down to basic survival instincts…this is their whole lives, their pride in their business, their culture, their home, their families, their friends, and their health at stake, too.

          To get moving should be an AUTOMATIC. Money is a cop-out excuse. Russia did far more with far less money and FAST!! All money is ineffectual if you just sit on it.


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    • charlie3

      I agree that your picture of the future of Japan is the probable truth.


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    • StPaulScout StPaulScout

      If you pulled the plug on all reactors today, how long would you need to keep cooling it until it was ‘cold’? Anyone know? It would be interesting to know that number I would think……


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  • gerryhiles

    I’ll go out on a limb here.

    It is a given that TEPCO is finished, but so too Japan I think.

    Considering that Japan is the world’s largest economy, it follows that the world economy cannot survive the collapse of Japan; therefore look for global collapse … which appears to happening anyway.

    This involves staggering for billions of people – no one can possibly be immune, rich or poor – but could be seen as “good news” from the point of view of ceasing to rape this planet, except that radio-active contamination may extinguish all species of animals and plants.

    I was never a pessimistic person, but I cannot avoid thinking that my prognosis is probably correct.

    Answer: just eat, drink and be merry in the present, like in “On the Beach” … the movie which essentially predicted this scenario a few decades ago.

    Especially apt for myself in Australia and the South generally, because it will take longer for contamination to arrive here.


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    • charlie3

      I rented OTB the other day, and that old film just like today does, the same mood.


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    • WindorSolarPlease

      Hi gerryhiles,

      I don’t think you are far out on that limb.

      Tepco may well be finished. However I believe, the people behind tepco will be just fine. I also think those people will keep pushing for more Nuclear Power else where, “as long as it is profitable”, because that is their business.

      There was a time in the very beginning that I thought BP was done for, and look at them now. I think BP is still in business and making a profit.


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    • StPaulScout StPaulScout

      Jerry – So do I, your prognosis, I agree. If things that people like Arne have said is true, I’m pretty sure most if not ALL will be killed off. Via cancers and birth deffects. Remember all those times you said, ‘If we don’t kill ourselves off first’ while talking about something else? Well, the ‘kill ourselves off’ won…….


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    • Sickputer

      gerryhiles writes: “Considering that Japan is the world’s largest economy, it follows that the world economy cannot survive the collapse of Japan; therefore look for global collapse”

      A little correction…Fourth largest economy behind China (3), USA (2) and EU (1). But I think likewise that if Japan has a cataclysmic fall then there will be a worldwide major depression. Some countries have great wealth like Russia, Germany, and the US so they have a lot farther to fall. But it may be a repeat of the 1929 collapse and depression of the 1930s. Or worse.


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      • WindorSolarPlease

        A global collapse could very well happen.
        Most people would be affected by this, a few that are wealthy would not feel it as the other people would.
        If this happens, I think it would be worse than the Great Depression.
        I really hope that I am wrong.

        I’m to old to live in a cardboard box.
        I think I would be happier to have the radiation get to me first, than to have that happen.


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      • gerryhiles

        Yes puter … actually I meant to type “third largest”.

        Still wrong I suppose, but I would have editted if I could.

        One writes stuff, has a quick re-read, misses some errors, posts and ….


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    • milk and cheese milk and cheese

      Agreed,except that it is in the Southern Hemisphere. Sea creatures are eating radioactive plankton and their wastes bring it into the Southern Ocean. In addition, people travel. I have an Australian guest here this week. Shall I not feed her local food and tell her to avoid going to Vancouver next week? It’s not possible to avoid this, so we are just going to have an innocent good time. I am very sorry for the young people whose futures have been stolen from them or at least, horribly changed.


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      • WindorSolarPlease

        Hi Milk and Cheese,

        I believe eventually the Southern Hemisphere will get this also. I don’t know if the concentrations will be less?

        It has drifted into Canada, US, Mexico first and possibly the hardest. (Besides Japan and that area)

        All the oceans may get contaminated, if they aren’t all ready. Once the oceans go, we are all in trouble.

        Enjoy your time with your friend.


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  • gerryhiles

    “staggering suffering” (wish there was an edit function).


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    • WindorSolarPlease

      Like the idea of an edit button function


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    • milk and cheese milk and cheese

      Me too. I mistakenly hit the wrong button and ‘reported’ one of your comments. My apologies. Your comments are some of the best on this board. Thank you .


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      • WindorSolarPlease

        That would be another nice thing to change..the reply and report button is to close.
        I’m old and my eyes aren’t as good as they use to be..lol..
        Wonder how many times I hit, that report button by mistake?


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  • StPaulScout StPaulScout

    Then the government gets stuck with it and sells off it’s holdings of U.S. Treasury Notes in an atempt to raise cash for the job ahead. Heh, heh,heh, bonds are about to get kicked in the groin…….


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  • CB CB

    Wierd new creature found in Sri Lanka. Is it a related insect or mammal mutation already from you know what? Is it natural or from Fukushima…….you be the judge..lol, I always wanted to say that
    http://www.youtube.com/watch?v=kAWbzx7lBD0
    Avatar


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    • CB CB

      If this is from radiaton, come fall the world will see the true extent of the meltdown when babies with mutations this extreme start popping out.


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    • WindorSolarPlease

      Hi CB

      At first I thought it was from the plant, until I noticed it moving.

      It looks like a large white fuzzy spider.
      Wonder if it’s a New Species?
      Test tube made maybe?? Who knows??


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  • charlie3

    we will see some terrible things by Christmas, I expect. Maybe then the sheep will start to pay attention to fukushima..


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  • milk and cheese milk and cheese

    TEPCO will die? Along with all the rest of us.

    The one optimistic note I can find is this: If they are concerned about money, they must believe, themselves, that the nuclear crisis is not a fatal blow to their country and the planet.

    They could be right.

    Or they could be completely delusional.

    I am voting for the second option.


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  • SteveMT

    They are awaiting the natural death of TEPCO by radiation? That sounds oxymoronic, but in our present upside-down world, it makes perfect sense. Natural death by radiation.


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