Word: edisonizing
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...plant that was worth the fight. And even though many of the medical-related institutions had to be convinced beforehand that they were going to get a better deal by building their own oil-burning plant than they could get by sticking with the local utility, Boston Edison...
...other side of Huntington Ave., the non-RTH side. He represents the Residents United to Stop Harvard, the most vocal opposition to the power plant's construction and to Harvard expansion in Mission Hill. Murphy wants to stop the plant too, but for a different reason. He's Edison's man on the project, an employee assigned almost fulltime to figure out ways to beat the power plant...
Murphy's game is different. He knows that Edison could stand to lose the same millions that MASCO hopes to gain if the institutions are allowed to drop their accounts and build their own power plant. And Edison, having tax problems itself with the city, is infuriated by the tax package that the non-profit institutions are negotiating in which MASCO would make in-lieu-of-tax payments of about $1.5 million annually to Boston. Edison claims it would have to pay at least three times that to the city just to deliver the same power...
...that will be left behind is human beings-the unemployed who won't find jobs on the gentle slopes of recovery." The threat of renewed inflation is only one reason for this worry. Interest rates are rising, discouraging business borrowing. Last week New Jersey Bell Telephone and Con Edison put off bond offerings totaling $155 million and Manhattan's First National City Bank raised its prime rate on business loans a quarter point, to 7¾%. Also, the stimulus of the $18 billion of 1975 tax cuts and rebates will be largely exhausted by next year...
...plans feasible. But in a city which has the highest tax rate in the entire country it seems reckless and ill-advised to lose large sums of tax revenue. The proposed total energy plant alone represents an annual tax loss of almost three million dollars a year. If Boston Edison were to provide the power, taxes on that would bring in about four million a year, but Harvard will pay only $1.1 million annually into public coffers...