Word: edisonizing
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...planning to build on Missions Hill in Boston. The eleven institutions, collectively known as the Medical Area Service Corporation known as the Medical Area Service Corporation (MASCO), claim that because of modern design a private oil-burning power plant can produce cheaper electricity more reliably than the competition Boston Edison...
These two interest groups declared war on Harvard and the whole project. Both groups are well-organized. Edison has spent most of its time since the release of the environmental impact statement trying to discredit it, using all the muscle and "experts" it can muster to its cause. The residents, also concerned about the environmental impact, have chosen the power plant as the focal point for all their wrath against institutions they claim are out to turn their predominantly working class neighborhood into an upper class research center. And they feel that the plans will cut to the very heart...
However, residents in the Mission Hill area, including the Mission Hill planning commission, and Boston Edison, which stands to lose the electric accounts of the institutions if the plant is built, have come out against the plant, and disagree with the assessment that the housing and the plant are inseparable...
...which normally increases 7% annually, showed no growth at all last year. Fuel costs for many utilities rose faster than state regulatory agencies would let the power companies boost their rates. New issues of stock in utility companies became almost impossible to sell after New York's Consolidated Edison omitted its 45?-per-share dividend for the second quarter of 1974. To raise the capital that it constantly needs to maintain and expand power grids, the industry had to borrow at interest rates as high as 12% on bond issues and bank loans...
...barest glimmer of the nation's power needs. Over the next 15 years, according to some estimates, utilities ought to invest a staggering $750 billion in new plants. No one seems to have much idea how they can raise the money. W. Donham Crawford, president of the Edison Institute, notes that most utility stocks are still selling for less than book value, a situation that scarcely tempts investors...