Word: commedity
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The CommEd proxy battle includes charges of water pollution as well. The company is now preparing to build a large unclear generating plant-its third-at a spot named Zion on the shore of Lake Michigan.
Low sulfur fuel would be more costly, the groups admit. But at a time when CommEd's profits are rising, its critics claim that the company can afford to make the change.
To draw off the intense heat of the Zion generators. CommEd will use the lake water in a cooling system. Cool water will flow in from the lake and the hot water will be dumped directly back at temperatures 18-20 degrees above normal.
What the proxy challengers are asking is that CommEd take action on both these fronts, using low-sulfur fuel and finding a different way to cool Zion.
Harvard-which owns $2.759.907 worth of CommEd stock and another $4.525.000 worth of bonds-has received a similar request. At Tuesday's meeting, however. Bennett indicated that Harvard would almost certainly stay away from the proxy fight.