Tuesday, October 25, 2011

SME Files Bankruptcy

For most folks, this is already old news. There remains though a serious concern that this is a valid filing, considering that a quorum of the SME board was not available to vote on the decision. To top it off, SME refused to seat new Beartooth Co-op board member, Arlene Boyd. After filing for bankruptcy, the board also voted to increase wholesale power rates by 20%. Beartooth is going to fight. Good for them.

1 comment:

Publius II said...

It just shows there's NO honor or any integrity at all at Southern, particularly the chair, controlled
by the GM completely.