Published: June 2nd, 2011 at 7:47 am ET
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Tepco debt swaps facing 53% chance of defaulting, Bloomberg, June 2, 2011:
The cost of protecting Tokyo Electric Power Co.’s debt shows the likelihood of a default increased to 53 percent after the utility’s credit rating was cut to junk status by Standard & Poor’s. [...]
53 percent chance of default by 2016, according to data compiled by Bloomberg. [...]
The debt downgrade came as the government is attempting to prevent Tepco from going bankrupt [...]
Reuters: Shares of Fukushima plant operator TEPCO hit record low
Published: June 2nd, 2011 at 7:47 am ET
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i think this is good news. if they do default and become bankrupt maybe somebody else will finally take over and handle the situation accordingly.
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I really don’t think they will find new people to take it over with the risk there, most likely will keep the same people on the jobs already there !
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Im feeling some Seppuku in the near future for some of these folk.
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Wouldn’t erecting some big tents over the reactor buildings be a morale booster?
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sell popcorn and balloons… they can call it a circus
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Yup, and I heard TEPCO has now published their architect’s drawing:
http://img850.imageshack.us/img850/6552/fukyoutent.jpg
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bwahahahaha…. picture stolen, great job
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Chance of default = 53%? Ho ho ho ho he he he he ha ha ha ha, now that’s funny, I guess the pols haven’t unloaded all their shares yet.
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Factory orders fell in April after parts shortage
Businesses demanded fewer machines, computers and autos in April; parts shortage a factor
Martin Crutsinger, AP Economics Writer, On Thursday June 2, 2011, 10:39 am
WASHINGTON (AP) — Businesses cut back on their orders for heavy machinery, computers and autos in April, partly because the March earthquake in Japan has made components parts harder to come by.
Orders to U.S. factories fell 1.2 percent in April and a measure that signals business investment dropped 2.3 percent, the Commerce Department reported Thursday.
Orders to factories totaled $440.4 billion in April on a seasonally adjusted basis. That’s 31.1 percent…
http://finance.yahoo.com/news/Factory-orders-fell-in-April-apf-789575131.html?x=0
If there are parts needed to fix or repair a product, it may not be available, say if one needed a windshield for a car and the plant is no longer functioning, and there are none in local junk yards ! What to do ?
Appliances are the same, we do mot know what parts of the supply chains are not producing from waters or radiation evac zones, but we CAN count on these things affecting the out put and stock dividends soon enough !
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It’s only $.
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with the amount of radiation from no.1, I think sacrifices have to be made to entomb the plant. Just like those people from Chernobyl.
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Japan Update 5/31a: TEPCO Being Destroyed by Dai-ichi Nuclear Plant
May 31, 2011 05:45 PM EDT
http://news.gather.com/viewArticle.action?articleId=281474979391426
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Now here is a perfect case of I rather be dead then broke. Only they are taking a lot of innocent people with them.
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State, not internal veteran exec, should run Tepco: critics
By TSUYOSHI INAJIMA
Bloomberg Friday, June 3, 2011
Tokyo Electric Power Co.’s choice of a 36-year company veteran to resolve the worst nuclear crisis since Chernobyl and avert bankruptcy prompted calls for the government to take a more direct role in managing the utility.
http://search.japantimes.co.jp/cgi-bin/nn20110603n1.html
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