Word: plants
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Dates: during 1980-1989
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...very elementary," said Massachussetts Public Interest Research Group (MASSPIRG) Consumer Program Director Laura Barrett. "If you create a large plant, you will employ many new people, and thus increase the demand for childcare, so you have to help meet that demand...
More and more, home is where the office is. -- The Seabrook plant may bankrupt a utility. -- Argentina talks austerity -- again...
...utility has a 30-day grace period, which ends in mid-November, to correct its default. If it fails to do so, creditors could push Public Service into bankruptcy and reorganization. The company would then become the first U.S. utility to succumb financially to the nuclear-plant cost overruns and environmental battles that have plagued dozens of plants across the country. Even the $2.25 billion default of the Washington Public Power Supply System in 1983 failed to knock out any utilities, largely because WPPSS was a consortium in which the financial burden was shared by 16 companies. But the weight...
...Seabrook project has been troubled from the day its plans were announced in 1972. The plant was originally budgeted at $973 million and scheduled to operate by 1979, but Seabrook's cost has reached $5.5 billion, and the opening has been repeatedly postponed because of construction delays and environmental protests. Seabrook came within a few months of being started up last year, when it suffered another setback: Chernobyl. The meltdown at the Soviet nuclear plant in April 1986 prompted Democratic Governor Michael Dukakis of Massachusetts to block the opening by refusing to participate in an evacuation plan for the area...
...York City Investor Martin Whitman is proposing to spin off Public Service's share in Seabrook into a separate company, thus leaving the utility less encumbered by debt. Losing Seabrook, however, is anathema to the utility, which still hopes to reap the hefty return that an operating nuclear plant can deliver. Public Service's Harrison proposes to restructure the debt, slash the utility's costs and raise electric rates by 15%. Rather than adopt the dissident plan as it stands now, Harrison claims, he would accept bankruptcy. Under court protection, he says, the utility might be able to carry...