Sunday May 27, 2012

JAPAN NEWS AND DISCUSSION

TEPCO reports Y571.8 bil loss

National Aug. 09, 2011 - 05:15PM JST ( 17 )

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17 Comments

2

BlueWitchAug. 09, 2011 - 01:43PM JST

The Diet last week passed a law to create a state-backed entity that would pool funds from TEPCO and other nuclear power companies as well as the government to guarantee that compensation can be paid out.

to guarantee what exactly?....that these corrupted/dirty bureaucrats don't STEAL the compensation as they have been doing for months now...?
1

TrappedAug. 09, 2011 - 02:23PM JST

While I don't doubt such theft, BW, is there any news of such in the mass media?
9

smithinjapanAug. 09, 2011 - 03:13PM JST

Awww... poor TEPCO! See what you get when you skimp on safety measures? It's not enough that they lose all their earnings -- the heads of the company need to be jailed.
1

some14someAug. 09, 2011 - 03:20PM JST

Public funds/pension funds available in good times and bad times as well...TEPCO must be at ease !
3

SmorkianAug. 09, 2011 - 04:31PM JST

I have no sympathy whatsoever for TEPCO management but I really worry about the 95% of TEPCO employees who are good men and women just doing their jobs. They're going to to suffer so much - probably a career stigma as well when they try to find another job after they inevitably lose the one they have now.

This is not to mention all the shareholders who are losing their savings.......

There's nothing but bad coming from this situation, that's for sure.
3

UtrackAug. 09, 2011 - 05:43PM JST

Tokyo Electric Power Company (TEPCO), is expected to announce more than 500 billion yen in quarterly losses

That's the price for a couple new state of the art reactors that would have been far safer then the 50 year old heap they were plucking along with.
2

The Munya TimesAug. 09, 2011 - 06:49PM JST

See what you get when you skimp on safety measures?

No they can't, see, they continue skimping on demolition, rescue and decontamination costs. That is what their all life is about, that is how their mind works.

A parasite is never thinking on how to keep the host body alive but how to find a new one.
1

Christina O'NeillAug. 09, 2011 - 07:19PM JST

Does this mean the directors of Tepco will not be paid thier annual bonus?
-2

BlueWitchAug. 09, 2011 - 07:31PM JST

A parasite is never thinking on how to keep the host body alive but how to find a new one.

Exactly!! There you go~~~
1

smithinjapanAug. 09, 2011 - 07:34PM JST

Smorkian: "I have no sympathy whatsoever for TEPCO management but I really worry about the 95% of TEPCO employees who are good men and women just doing their jobs."

I kind of agree with you, and do feel sorry for the people, but they chose to work and stay on with a company known for it's scandals and cover-ups, and probably know full well about the cost-cutting, so in a way it's their own fault. Again, still feel sorry for them, but I feel sorrier for all the farmers and people who have lost their livelihoods due to TEPCO's mismanagement and complete ineptitude.
1

saru_auAug. 09, 2011 - 07:57PM JST

Does this mean the directors of Tepco will not be paid their annual bonus?

likely the directors will get paid more than usual to compensate their sad feelings

and next year tepco will probably announce an operating profit of 60 billion yen again.
0

Christina O'NeillAug. 09, 2011 - 07:57PM JST

I dont think the frontline employees who are still battling to bring the situation under control have much of a choice consencieince wise, if they decide to abandon the reactors to seek employment elsewhere what would be the consequence? They and thier families are definately not remaining at thier posts for the financial renumeration.
1

the_harperAug. 09, 2011 - 08:42PM JST

I'm not defending TEPCO, but maybe everyone is forgetting that the region was hit by a record earthquake and tsunami. Presumably the government will have to take over the company when it becomes financially impossible for it to continue to operate.
0

SmorkianAug. 09, 2011 - 08:45PM JST

I kind of agree with you, and do feel sorry for the people, but they chose to work and stay on with a company known for it's scandals and cover-ups, and probably know full well about the cost-cutting, so in a way it's their own fault.

I don't know, does the guy running cable or the lady processing bills know about all this? Job market is tough. I've worked for crappy companies before and you don't really expect them to be really, really crappy like TEPCO has turned out to be.
0

herefornowAug. 09, 2011 - 11:33PM JST

This is not to mention all the shareholders who are losing their savings.......

Smorkian -- why feel sorry for the shareholders? They got paid dividends for years out of profits that were made by TEPCO deliberately short-cutting safety measures. (TEPCO's annual profits for the last decade far exceeds this loss.) And now the taxpayers are footing the bill for the disaster this caused. I shed no tears at all for them.
0

globalwatcherAug. 10, 2011 - 01:41AM JST

Japan’s parliament last week passed a law to create a state-backed entity that would pool funds from TEPCO and other nuclear power companies as well as the government to guarantee that compensation can be paid out.

This is a key on this article. Very good.
0

ModeratorAug. 10, 2011 - 06:47AM JST

All readers back on topic please.