Sunday May 27, 2012

JAPAN NEWS AND DISCUSSION

Government approves Y900 bil aid to TEPCO

National Nov. 04, 2011 - 04:30PM JST ( 31 )

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Tens of thousands of people remain evacuated from homes and businesses in a 20 kilometre no-go zone around Fukushima

Japan's government has agreed to give the operator of the stricken Fukushima nuclear power plant $11.5 billion in aid

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31 Comments

8

CrickyNov. 04, 2011 - 12:51PM JST

So as a private company, who disregarded consistently Government regulations and have proven their lack of forward planning or regard and care for workers and citizens now needs Tax payers money to remain profitable. This is wrong! 30 years to contain the mess, People living in school Gyms 8 months after the disaster... Poor TEPCO. I am going to work harder to pay more tax so I can help TEPCO...

seriously this is wrong
5

GurukunNov. 04, 2011 - 01:06PM JST

great!...let's help the liars (roll eyes)
4

escape_artistNov. 04, 2011 - 01:14PM JST

The Japanese version of the "bailout". Tepco must be too big to fail too.
2

marcelitoNov. 04, 2011 - 01:31PM JST

Agree with Cricky...damn TEPCO management
5

cactusJackNov. 04, 2011 - 01:37PM JST

Let the GOVT handle the payouts then. Why go thru TEPCO???
1

yildirayNov. 04, 2011 - 01:56PM JST

I am not an expert in business by any means, but wouldn't TEPCO declaring bankruptcy be even worse?
0

Tigerta9Nov. 04, 2011 - 02:07PM JST

No because they could still operate as a nationalized entity.

Now they get the protection of nationalization while maintaining the spoils of a private corporation including stock options, rich pensions, highly competitive executive wages and compensation packages, etc.
-8

Hide SuzukiNov. 04, 2011 - 02:11PM JST

To those who are complaining as always, what are your suggestions ? Let them go out of business ? Do you realize that's not an option ? Maybe you guys should think before you post
1

Tigerta9Nov. 04, 2011 - 02:19PM JST

They need a panel of outside experts like General Motors had that aren't hidebound to a corporate culture that works best off a status quo playbook. This is a once in a lifetime chance to remake themselves into a world leading organization (OK - a maybe just a better organization).
5

SasorizaNov. 04, 2011 - 02:27PM JST

The government shouldn't bail out TEPCO. The government must BUY TEPCO.
4

Elbuda MexicanoNov. 04, 2011 - 02:29PM JST

Beautiful! The corruption of the Japanese government giving the green light to TEPCO to do as they please, with our TAXES!!
4

some14someNov. 04, 2011 - 02:37PM JST

aid? why not loan ?
-7

rainman1Nov. 04, 2011 - 02:38PM JST

@Hide Suzuki, Massive thumbs up to you. Was about to start typing but then saw your comment. You are correct, there is no option. For all the mistakes they have made, they supply power to such a large block of Japan that they have a monopoly on, there simply isn't an alternative. Yes, sure, they could operate as a nationalised entity but to what end? TigetTa9 also suggests that this is chance for TEPCO to become a better, world leading company.We have had a disaster in Fukushima-ken that was beyond our imagination a year ago. We have not been told the whole truth and never will be. Deal with it. As it stands, other than Thermal power stations going back online, there isn't (yet) a feasible alternative for Japans power needs. If you object to paying tax here (and don't get me wrong, I'm not happy about it either) to support TEPCO's bailout and you have no family ties here, then leave. Simple as that. Once again as Hide Suzuki as asked above. Any suggestions?
-2

rainman1Nov. 04, 2011 - 02:42PM JST

also, @Sasoriza, can you defibe what you mean by 'BUY TEPCO', buy what exactly?
3

gaijinTechieNov. 04, 2011 - 03:20PM JST

He means buy the assets and can the losers. Open the generators and transfer nets for real capitalistic competition, in order to cut price of electricity and improve services.

Monopoly is dictatorial communism. Period.
0

SquidBertNov. 04, 2011 - 03:40PM JST

@H Suzuki and raiman1

As you say, TEPCO is to big to fail right now in the sense that they have to many customers that would be out of power without them. But my sugestion isthat:

Step1: The goverment (or the public if you like) get stock in exchange for all this money. In effect nationalizing the company.

Then in step 2 complete restructure and replacement of corrupt managemnet. Then in step 3 Use TEPCO as a tool for building the future modern electricity generation distribution grid.
1

Brandon ReidNov. 04, 2011 - 04:05PM JST

Are there any plans as to making the disaster zone into a gigantic field of solar panels?
1

bookowlsNov. 04, 2011 - 07:13PM JST

Unbelievable! TEPCO loses over ¥600 Billion in the last six months and the government bails them out, while raising OUR taxes!! Who is more corrupt?
-1

bookowlsNov. 04, 2011 - 07:14PM JST

To those who are complaining as always, what are your suggestions ? Let them go out of business ? Do you realize that's not an option ? Maybe you guys should think before you post

Maybe you should realize there are plenty of other non-corrupt businesses waiting in the wings!! Not letting them go out of business? It's the best option they have right now!!
0

KabukiloverNov. 04, 2011 - 09:06PM JST

My suggestion is put TEPCO out of business with no compensation and turn it into a public utility.
-2

Tigerta9Nov. 04, 2011 - 11:48PM JST

@rainman1 massive thumbs down to you. they could model the company to start getting money back through a re-listing on the TSE (some of which could actually make it to making Fukushima whole again), after all the amakudari guys from the bureaucracy have been cleansed focus on an energy platform that puts Japan at the forefront of the green initiative and also find get someone in a decision making capacity to read and heed the crisis prevention manuals. Without the pressure to make fat profits for shareholders, etc (for now) they might focus on making the investments that were to needed to make the nuclear facilities more secure.

Also massive thumbs down for the "just deal with it" baloney. Try selling that to the guy who lost his job not to mention his life in Fukushima.
0

SerranoNov. 04, 2011 - 11:52PM JST

Does the government actually have Y900 bil to give to TEPCO?
-4

rainman1Nov. 04, 2011 - 11:53PM JST

So - to the last four people who posted...you are all dreaming and effectively advocating Communism. Get Real. TEPCO is here to stay whether you and me like it or not. Get used to the idea..or leave. Simple.
-3

rainman1Nov. 05, 2011 - 12:01AM JST

@Serrano. No, they do not. they will issue more JGB's. typically oversubscribed 2.5-3.2 times each issue. No problem with that...safe haven. @tiger.: Stop dreaming. Your idea is something from a 1950's economic textbook. Shareholders want value noe. Not in 2040/.
1

Tigerta9Nov. 05, 2011 - 12:02AM JST

@rainman1 - you need to Google the definition of "Communism." so peeps who wanna make it better here should pick up and leave? that's wrong - again.
-3

rainman1Nov. 05, 2011 - 12:05AM JST

Yep - Its' not going to get any better. Haven't you realised that?
1

Tigerta9Nov. 05, 2011 - 12:29AM JST

Agree it'll get worse before it gets better.
2

gelendestrasseNov. 05, 2011 - 01:27AM JST

If the government is going to keep TEPCO afloat they should insist on the firing, without pensions, of all the senior management. Remember that TEPCO was in hot water back in 2002 for falsifying test results at their plants. They've learned nothing. Time to go.
2

amerijapNov. 05, 2011 - 02:08AM JST

"Government approves Y900 bil aid to TEPCO"

The title is misleading. This is a bail-out plan for disaster recovery--not for economic recovery of a corrupted company. There is every reason to suspect TEPCO's motives for inappropriate use of funds regarding that they have a history of repetitive failure to maintain the ethics of corporate governance.
0

YuriOtaniNov. 05, 2011 - 02:29AM JST

Brandon Reid. solar panels only cost money not poison our environment. Really the management of TEPCO needs to go to jail. Professional Negligence resulting in death and injury. People were writing Malaysia has the right to kill the female drug mule, the management of TEPCO deserves the same.
0

tmarieNov. 05, 2011 - 01:04PM JST

I ;like the idea of turning contaminated areas in Fukushima into solar panel zones. Shame it will never happen because you can't make tons of cash of solar like you can with other sources so.... no company or government will bother.