In today's Tribune, we find an article informing us that a Texas utility is going to sue the federal government's suspension of loans to coal-fired power plants. If you remember, in February SME found out that RUS (Rural Utilities Service) said no to anymore new loans for coal plants.
In March, the vice-president of the SME board, John Prinkle said, "I think we have a very solid project and we're on very solid ground."
In today's story, Mr. Prinkle is quoted as saying, "it cost us (SME) millions and millions of dollars because of that delay".
I have a few questions:
1. How much of the city's money went down the tubes over this loss?
2. Did SME report this "millions and millions dollars of loss" to its members, which includes the city? If so, when did they divulge it?
3. And if this loss was reported, did the executive director of ECP, Coleen Balzarini, report it to the ECP board? Oops, that's right. She wouldn't have, because I'm sure SME classified this as being confidential information. And we certainly have learned who controls the flow of information.
It comes as no surprise that Gregori's rhetoric continues. In today's article, he says "that SME is close to securing financing for the first phase of Highwood Generating Station and we continue to make good progress on total project financing".
Of course, he wouldn't say who is dumb enough to back such a loss cause. That's confidential, don't ya know.