Tag Archives: negative

Kemper Coal Crashes Southern Company Rating and Stock Price

Standard & Poor’s lowered Southern Company’s rating from stable to negative because of the risks of Kemper Coal in Mississippi, and SO’s stock price plummetted. This was immediately after activists grilled SO on that and other topics at the SO stockholder meeting. Wait ’till S&P catches on to the risks of SO’s 19-months-late and $1 billion-over-budget nukes at Plant Vogtle in Georgia! Or SO’s non-action so far on the challenge of distributed solar.

Kristin Jones wrote for WSJ 24 May 2013, S&P Lowers Outlook on Southern Co., Noting Project Risks,

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VDT picks up private prison national article: the news is not good for CCA

The VDT, after following the local private prison story, picked up a national story about CCA’s offer to 48 state governors to buy their prisons. CCA is not getting any takers.

AP wrote 10 March 2012, Firm offers states cash for prisons,

Despite a need for cash, several states immediately slammed the door on the offer, a sign that privatizing prisons might not be as popular as it once was.
Doesn’t seem very popular around here. Most people still don’t seem to have heard about the proposed local private prison, but once they do, by far most say they are against it.
Prison departments in California, Texas and Georgia all dismissed the idea. Florida’s prison system said it doesn’t have the authority to make that kind of decision and officials in CCA’s home state of Tennessee said they aren’t reviewing the proposal. The states refused to say why they were rejecting the offer.
Good for Georgia and the other states! Georgia, where the prison population is already plummeting.
“Knowing the state government, it has to have something to do with the potential political backlash,” said Jeanne Stinchcomb, a criminal justice professor at Florida Atlantic University who has written two books on the corrections industry. “Privatization has reaped some negative publicity, so I can only assume that despite the possible benefits, there would be a price to pay for supporting it.”
Do tell….