{"id":860,"date":"2012-05-03T10:36:43","date_gmt":"2012-05-03T14:36:43","guid":{"rendered":"http:\/\/www.l-a-k-e.org\/blog\/2012\/05\/if-southern-companys-nukes-are-a-good-deal-why-so-many-insider-stock-sales.html"},"modified":"2012-05-03T10:36:43","modified_gmt":"2012-05-03T14:36:43","slug":"if-southern-companys-nukes-are-a-good-deal-why-so-many-insider-stock-sales","status":"publish","type":"post","link":"http:\/\/www.l-a-k-e.org\/blog\/2012\/05\/if-southern-companys-nukes-are-a-good-deal-why-so-many-insider-stock-sales.html","title":{"rendered":"If Southern Company’s nukes are a good deal, why so many insider stock sales?"},"content":{"rendered":"

If the Southern Company’s slick nuclear financing deal<\/a> and its ongoing operation of three of the country’s dirtiest coal plants<\/a> (two of them in Georgia) is such a good deal, why are so many insiders selling so much stock?<\/p>\n

<\/a><\/p>\n

Maybe SO CEO Thomas A. Fanning needed that $12.4 million he got back in January<\/a> by selling 275,617 shares at $45.0693 per share for a new yacht, <\/a> or a new wing on his house, or something. A brief scan of nearby energy companies (Duke and Progress) indicates it’s not unusual for an energy company CEO to sell shares, although mostly not for this much dollar amount. $12.4 million is more than twice Fanning’s 2010 salary of $6.02 million, and well more than his 62% raised 2011 salary of $9.75 million<\/a> that Georgia Power customers get to help pay for through Construction Work in Progress (CWIP)<\/a> charges for the new nukes at Plant Vogtle that won’t be built for years, if ever.\n<\/p>\n

<\/a> But what’s with two SO subsidiary company CEOs, Mark A. Crosswhite, President and CEO of Gulf Power ( #206 on the Forbes Global 2000 in 2010<\/a>) and Edward Day VI, President and CEO of Mississippi Power Company ( former engineering group supervisor at the Hatch Nuclear Project<\/a>) <\/a> selling a bunch of stock in April?<\/a> Also there have been only a couple of puny little purchases, each of less than $30,000, in the past year. Why so much selling and so little buying by insiders?<\/p>\n

\n<\/a>\nMaybe new nukes are an increasingly bad business risk for Southern Company and Georgia Power.<\/a> Perhaps some economic expert can help with this question;\nhow about\nMoody’s<\/a>?\nMaybe\n\nGeorgia Power customers<\/a> and Georgia and U.S. taxpayers and voters have an opinion?\n<\/p>\n

I wonder what will happen to SO’s insider trading patterns when SO’s illusion of certainty of profit from nuclear and coal<\/a> <\/a> eventually becomes obvious even to their board and shareholders as actually a big risk, and when SO realizes Cobb EMC made the right choice for profit by ditching coal plant plans and building solar plants instead;<\/a> when SO finally suddenly switches to solar like Cobb EMC and Austin Energy already did.<\/a> Will insiders decide SO’s stock has become a good buy when SO builds solar and wind plants?<\/p>\n

-jsq<\/p>\n","protected":false},"excerpt":{"rendered":"If the Southern Company’s slick nuclear financing deal and its ongoing operation of three of the country’s dirtiest coal plants (two of them in Georgia) is such a good deal, why are so many insiders selling so much stock? Maybe SO CEO Thomas A. Fanning needed that $12.4 million he got back in January by […]","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"_links_to":"","_links_to_target":""},"categories":[97,216,142,14,18,104,23,24,36],"tags":[8753,8704,2533,8701,8708,2531,8737,8713,1110,1523,108,2532,8716],"class_list":["post-860","post","type-post","status-publish","format-standard","hentry","category-activism","category-coal","category-cwip","category-economy","category-georgia-power","category-nuclear","category-renewable-energy","category-solar","category-wind","tag-coal","tag-economy","tag-etrade","tag-georgia","tag-georgia-power","tag-insider","tag-nuclear","tag-renewable-energy","tag-sales","tag-so","tag-southern-company","tag-stock","tag-wind"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p585fK-dS","jetpack_sharing_enabled":true,"jetpack-related-posts":[],"_links":{"self":[{"href":"http:\/\/www.l-a-k-e.org\/blog\/wp-json\/wp\/v2\/posts\/860","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/www.l-a-k-e.org\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.l-a-k-e.org\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.l-a-k-e.org\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/www.l-a-k-e.org\/blog\/wp-json\/wp\/v2\/comments?post=860"}],"version-history":[{"count":0,"href":"http:\/\/www.l-a-k-e.org\/blog\/wp-json\/wp\/v2\/posts\/860\/revisions"}],"wp:attachment":[{"href":"http:\/\/www.l-a-k-e.org\/blog\/wp-json\/wp\/v2\/media?parent=860"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.l-a-k-e.org\/blog\/wp-json\/wp\/v2\/categories?post=860"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.l-a-k-e.org\/blog\/wp-json\/wp\/v2\/tags?post=860"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}