Sunday May 27, 2012

Gov't OKs further Y690 bil for TEPCO, but wants say in running utility

National ( 25 )

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The Japanese government approved a fresh 620 billion yen in aid for TEPCO on Monday. AFP

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25 Comments

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  • 4

    sillygirl

    the inmates running the asylum??? they all need someone to watch over them.

  • 4

    zichi

    Were is the "taxpayers seat on the board?"

    Last year TEPCO imported slightly less gas, oil and coal than in 2010?

  • 3

    NetNinja

    @sillygirl That would be very accurate. Best part of all is you get to pay for it through your tax money. You can think about that next month as you are filling out your forms.

  • 3

    sillygirl

    @NetNinja - and that is why i get so angry this time of year. what with taxation without representation.

  • 3

    combinibento

    sillygirl is right. gov running tepco = blind leading blind.

  • 3

    namabiru4me

    no one is "running" TEPCO. They are just reacting to one incident after another.

  • 1

    Elvensilvan

    What happened to the plan of government takeover? Since TEPCO will be continued to be funded by the government, just a "say in running the company" wouldn't be enough, considering TEPCO needs trillions more in the coming years.

    Also, TEPCO hasn't mentioned anything about the costs for plant maintenance for the troubled NPPs, or is that included in the decommissioning costs? Like the current state of number 2 plant, which needs equipment to monitor the temperature, and the additional costs for cooling and piping repairs.

  • 0

    cactusJack

    Good chance for some of those TEPCO folks to hide some of this free dough. It is raining money at TEPCO!

  • 1

    marcelito

    I wonder by how much they really cut their salaries and bonuses...have not heard of Shimizu offering to give back some of his 500 million golden parachute money either...greedy corrupt Tepco oyajis ..

  • 1

    smithinjapan

    Anywhere but where the money's actually needed, I guess. Seems to be the priority of the J-government. And in exchange the corrupt politicians, who helped lead the situation to where it is (meltdown), want more say in running the company?

  • 2

    tmarie

    Why can't the government release a budget for TEPCO so we can see where OUR money is going. Why are WE paying for this mess?! Why is this money not a loan?! Pathetic. The whole thing stinks. TEPCO continues to pay bonuses, the government guys get their cushy jobs after retiring and we're left with the cost and worry over our food, environment... Sick and twisted. I want TEPCO budgets made public.

  • -4

    kazetsukai

    Opinions again without substantiated facts....?

    If government takes part... in aid or in management using taxpayer money.... it makes sense to show exactly where the money is going. None of the governments in the world do that... even in the USA, so can't expect that to happen yet.

    However, if you are complaining... it is those who put the politicians in their offices that must also take responsibility. And that is the taxpayers themselves... Did you VOTE?

    Take part in the elections and ELECT the persons needed in the respective posts. If they are appointed then find a way to express your concerns to them directly with qualified and substantiated proposals that they can actually consider and if found meaningful.... act upon.

    Don't sit on the sidelines and rant....

    Why don't all of you get together and form a meaningful research and development group to find solutions to suggest to the government instead....?

  • -5

    Sarcasm321

    Leave TEPCO alone guys...don't you know how stressfull it is when a sinecure suddenly comes under threat?

  • -6

    kazetsukai

    For those who want private company finances to be made public.... The stockholders get them along with the public at least one a year.

    Most of you have expressed that they are not accurate and not reliable and have "hidden" data. But then, if you were in their shoes, how much would you reveal to the public? That is especially if you are being competitive?

    Many of you have expressed the same opinions with Olympus.

    Easy to know little and evaluate the results.... but when you are in the mess.... how would you decide? What would you do?

    Now find the best actions that one may take then "suggest" it rather than get emotional and get emotional support.

    But make sure you have all the facts and all options considered.... you can end up in a worse mess than before....

  • 2

    Yubaru

    kazetsukai woah seeing quadruple here.....

  • 0

    DoLittleBeLate

    Now find the best actions that one may take then "suggest" it rather than get emotional and get emotional support.

    Kazetsukai, there is no way that the Japanese government is going to take suggestions or advice from people that have not been accepted into the "inner circle", no matter how educated, how skillful nor experienced they are. Even Japanese experts are excluded because they graduated "from the wrong university" or some other convenient excuse. Now, humiliating is a valid (albeit not preferred as first) technique for teaching. And much more fun!

  • 0

    Elvensilvan

    @kazetsukai

    About TEPCO being made public, the Japanese government itself has announced several months ago that they are considering taking TEPCO under government control for several years, since the government itself is funding TEPCO for the compensation and NPP decommissioning.

  • 1

    electric2004

    It looks to me like TEPCO is extorting money from the government.

    How about coining a new expression:

    Tepcorists.

  • 3

    zichi

    What we all need from TEPCO, is full accountability.

    The estimated costs, at today's prices for the eventual nuclear up and decommissioning of the plant will be in excess of 30 trillion yen. That cost be beared by future generations of taxpayers. That does not include the cost of storing nuclear waste for 10,000 years!

    Such an expensive, stupid way to boil a kettle!

    TEPCO should be forced to sell its Niigata nuclear plant, and banned from ever running another one.

  • -1

    Disillusioned

    It doesn't matter who runs TEPCO. inevitably every resident in Japan will end up footing the bill in either taxes or increased electricity costs.

  • -1

    herefornow

    The business plan needs approval from Edano, who has demanded TEPCO be drastically reformed, cutting costs and changing its corporate culture, which has often been criticised as secretive and complacent

    Could just about describe every major company and institution in Japan. The word transparent is just thrown around there, never really implemented. And proactive does not even enter into the vocabulary. As a result, the citizens are going to have to foot over $20.0 billion in government payments to solve all the problems caused by this culture. Which, if my math is right, is about $155.00 in extra taxes for every person in Japan. All because TEPCO, like so much else of Japan, is stuck in a business model that broke over two decades ago, but cannot change because it knows know other way to operate. Years of isolation, and arrogance, are catching up with Japan in a big, big way.

  • 0

    ushosh123

    This is all wrong, everything is so messed up, the government should be concerned with holding tepco responsible, facilitating the payout to the eligible victims, not how Tepco is ran. I mean anyone in the government with sufficient knowledge and credentials in nuclear physics would be actually working in that field and not for the government.

    I mean if I burn down someone's house "by accident", would I be the only one involved in assessing the amount of conpensation I should be reimbursing them for? Would they file a request with me, and i could deny their claim? If I was poor, would I just compensate them less? Crazy!

  • 0

    Thomas Smith

    @kazetsukai

    Opinions again without substantiated facts....? You may be confused as to how Japantoday works, it's almost all opinions. Why so much interest in defending TEPCO? You may be the only one who's missed the fact they have poison the soil, sky, water, and food of a large area in Japan. The cesium has a half life of 30 years, which means if you eat tainted food, you take on high level radiation and depending how much you ingest of course, likely shouldn't eat anything else tainted for roughly... 30 years! That means no rice, seafood, dairy, produce, eggs, meat, etc. Some say the radiation won't fall to trace levels for 300 years! They definitely deserve some of our ire. Many of us are pregnant or have small children. This is horrifying and we still cant get straight, reliable data. There is no easy defense for them in my OPINION.

  • 0

    pamelot

    Why isn't this sum a loan, instead of booty stolen from the taxpayers?

  • -1

    Scrote

    Still the government is weak. It should nationalise TEPCO and set the share price to zero. It should appoint new managers and take responsibility for reforming the company, paying compensation and cleaning up the mess. It should have done this ten months ago, instead of weakly pleading to be allowed a vote or two in exchange for trillions of Yen.

    At the moment it seems like TEPCO is calling the shots when it should be the other way around.

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