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06 Jun 2011 08:30

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World: After huge losses, Tepco’s future leads its stock to nosedive

  • No one knows what will happen to Tepco in the future. We don’t even know whether the company will remain a private company or will the government take it over.
  • Fujimaki Japan’s Takeshi Fujimaki • Explaining why Tepco’s stock went down significantly today — at one point as far as 28 percent — after a financial report that suggested the company was in very bad shape. Simply put, many investors don’t think Tepco is long for this world as a private company and will need significant help from Japan to survive. The company could face $7 billion in losses for the current fiscal year — already on top of $15 billion lost in the prior fiscal year, which ended in March. That’s before any compensation costs are taken into account, by the way. Investors are betting on bankruptcy and/or public-sector takeover. source
Posted by Ernie Smith • 0 Comments • Permalink

19 May 2011 23:47

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Biz, World: TEPCO’s fiscal year could be one of Japan’s worst ever

  • ¥1.5 trillion yearly loss possible thanks to Fukushima source
  • » That’s $18 billion dollars, guys: While many parts of Japan struggle to recover from March’s earthquake, TEPCO’s financial loss — part of the reason the company’s president, Masataka Shimizum, likely plans to step down —would be downright dramatic. When it announces earnings today, the loss could be absolutely insane. But it wouldn’t be a record. That dubious honor goes to Mizuho Financial Group, which lost ¥2.38 trillion ($20.3 billion) in a single fiscal year back in 2003. Meanwhile, TEPCO struggles with power outages, a nuclear meltdown, and huge radiation-related claims that could top ¥11 trillion ($134 billion). These factors combined — which won’t be one-time payments — may force Japan to take the power company over.
Posted by Ernie Smith • 0 Comments • Permalink

13 Mar 2011 11:53

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World: Laymen’s terms: Fukushima withstood the quake, not the tsunami

  • Reactors have been designed with such [earthquake] concerns in mind, but preliminary assessments of the Fukushima Daiichi accidents suggested that too little attention was paid to the threat of tsunami. It appeared that the reactors withstood the powerful earthquake, but the ocean waves damaged generators and backup systems, harming the ability to cool the reactors.
  • A piece from the New York Times • Explaining what appears to have happened, calmly and simply, with the current nuclear crisis. Overall, the effect is that Japan’s precautionary methods for nuclear plants were successful in what they were designed to do. The problem is, the design of the Fukushima Daiichi nuclear plant didn’t anticipate something far different. Which is why the current situation has escalated. source
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12 Mar 2011 18:37

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U.S.: Fukushima: Dozens of people could’ve been exposed to radiation

  • 160 people are at risk of radiation according to the Japan Nuclear and Industrial Safety Agency
  • nine people have shown signs of radiation so far, based on early tests by multiple authorities source
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12 Mar 2011 15:22

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World: Fukushima update: Some people have tested positive for radiation

  • 50k number of people who officials evacuated to prevent further radiation exposure
  • 90 residents near the Fukushima reactor site tested randomly for radiation exposure
  • three of those people tested positive for very high levels – this could be bad, guys source
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12 Mar 2011 08:34

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World: Fukushima blast: Sea water the coolant of choice for reactor

  • We’ve decided to fill the reactor container with sea water. Trade minister Kaieda has instructed us to do so. By doing this, we will use boric acid to prevent criticality.
  • Japanese Chief Cabinet Secretary Yukio Edano • Explaining what will happen next in the wake of the Fukushima blast in Japan. For what its worth, Edano says that, although there was an explosion, it didn’t affect the core reactor. “The nuclear reactor is surrounded by a steel reactor container, which is then surrounded by a concrete building,” he said. “The concrete building collapsed. We found out that the reactor container inside didn’t explode.” Sea water, eh? Interesting coolant choice. source
Posted by Ernie Smith • 0 Comments • Permalink

12 Mar 2011 00:28

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World: Japan quake: Nuclear energy could fall out of favor again, maybe

  • then After a period where nuclear power gained popularity, Three Mile Island, green groups and the movie “The China Syndrome” helped hurt the reputation of the power source.
  • now With a higher focus on safety, the risk of danger is much lower and growth has returned – but trouble in Japan could once again turn popular favor against it. source
  • » Two sides, two arguments: Green groups AND nuclear advocates have their talking points here – groups in favor of nuclear energy say the precaution prevented a much worse situation with the Fukushima reactors. Green groups say any leak of radioactive gas proves the dangers are too high. Of course, if this happens, it kinda throws everything out the window.
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