Albany Contract Cancelled, page-4

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Teddyward

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12/03/19

16:29

Post #: 37735540
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Originally posted by Chimpbpoy: ↑

This was the only outcome that was going to happen. The question now will be if CCE ever comes out of the trading halt.

This whole episode was such a bad idea. Carnegie through the last 10-15 years has enjoyed support from both liberal and labor governments. Ceto 6 was already funded to be built at Garden Island. Companies like Carnegie depend on having a good relationship with the government of the time. Why then they decided to make themselves into a partisan political football by standing up with the opposition during a state election and roping themselves into an election promise is a mystery to me.

Also, turning the fairly simple planned and funded deployment of Ceto 6 at Garden Island into a much bigger and more expensive project in Albany also seemed a really bad idea. But like I said at the time, it was less of a mystery because what it gave Carnegie was an extra 3 or so years of delay before they "had" to get Ceto 6 in the water. Time they needed to work on the design due to the problems they found after Ceto 5 testing. Still stupid, not something they ever really admitted, but yeah not a mystery.

And here we are. It didn't help. It and EMC have basically killed the company.

In a few years time, hopefully after the regulators have caught up with MO, someone should write a book about the whole mess. I'd read it. I'd probably throw it across the room a few times while reading it, but I'd still pick it up and finish it. "Waves of Avarice" would be a good title I think.

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Just call it "trough"

It is at the bottom of a wave
They troughed all they could
Shareholders are in the trough

The Italian for trough is depressione

Could give some chapter titles as well. Maybe it is too soon?

CCE Price at posting: 0.4¢ Sentiment: None Disclosure: Not Held
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Albany Contract Cancelled, page-4

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