Cap Rock Profits
I guess all those folks who complain about Cap Rock Electric's prices may have a point. Caprock apparently has the where with all to shell out $352 Million in cash and assume $515 Million in debt to acquire Semco, a natural gas utility company with customers in Michigan and Alaska.
I guess this means Cap Rock is all about pleasing its investors, not providing reliable and affordable power to its customers.
2 Comments
Why is it that some people make so much service but no money...
while others make so much money but no service?
GDP should metamorphosise into two terms: GDP for Gross Domestic Product and GDM for Gross Domestic Money.
Yeah, it's too bad that the folks that were blamed for all of Cap Rock's spending are now gone...
The company that owns Cap Rock now has very deep pockets. The people that the ignorant masses were griping about are gone from Cap Rock. The customers of Cap Rock that took the stock options when Cap Rock went public made quite a sum of money when Cap Rock sold to it's current owners.
Those short sighted folks that took the short term bandaid of lower bills are kicking themselves about now...