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Westinghouse faces Chapter 11 -- or 7

1312 Views 19 Replies 11 Participants Last post by  MikeFL
http://www.zerohedge.com/news/2017-03-28/what-westinghouse-bankruptcy-could-mean-us-utilities

International news services now report that Japan’s Toshiba Corporation (9502.T) is preparing to make a chapter 11 bankruptcy filing for its Westinghouse Electric subsidiary as soon as today. For most of our readers this news evokes little surprise. This is merely another chapter of a slow moving financial and accounting train wreck involving nuclear design and construction firm Westinghouse and its troubled Japanese parent, Toshiba. But like an old, leaky garbage scow there is much to clean up in its wake.

The two U.S. utilities with the most at risk are Southern Company and SCANA Corp.

Westinghouse is presently constructing two unit, AP 1000 nuclear power stations for each utility. These projects are over-budget and behind schedule. It appears that Westinghouse offered both utilities a fixed price contract for these new nuclear plants.

Our best guess is that this fixed price construction guarantee has doomed Westinghouse and prevented other potentially willing buyers from stepping in. No one it seems is willing to take on this seemingly open-ended nuclear construction liability.

What does this mean for the two domestic utilities embroiled in this international financial quagmire?
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BTW, I've LONG solved the design for atomic plants:

1) Mass produced -- up in Puget Sound -- one needs the sound for the design.

2) Concrete super buckets -- a la the super-scale structures used in the North Sea.

3) The reactors -- in these immense buckets -- rest BELOW sea level -- along the coast.

4) They transmit DC power to the shore. ( ASEA technology )

5) If things really, really go wrong, the bucket is flooded -- entirely. You can never run out of cooling water.

6) These atomic buckets can be towed to every coastal site that has enough of a sub-sea footing to permit it to sink and rest on the bottom -- being both floating and supported (anchored) at the same time.

7) Said buckets will be far enough away from the shore to be invulnerable to tsunami effects. The tsunami would merely pass on by, never cresting, never reversing.

8) The floatation of the bucket would mean that the ground pressure would be modest. Almost as light as a feather.

9) The buckets would be protected by the USMC and the USN as strategic assets.

10) Their immense scale would generate neutron efficiencies not otherwise possible, perhaps even becoming a 'breeder.'

11) The ocean would be quite a moat, the bucket, quite a 'keep.'
 

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BTW, I've LONG solved the design for atomic plants:

1) Mass produced -- up in Puget Sound -- one needs the sound for the design.

2) Concrete super buckets -- a la the super-scale structures used in the North Sea.

3) The reactors -- in these immense buckets -- rest BELOW sea level -- along the coast.

4) They transmit DC power to the shore. ( ASEA technology )

5) If things really, really go wrong, the bucket is flooded -- entirely. You can never run out of cooling water.

6) These atomic buckets can be towed to every coastal site that has enough of a sub-sea footing to permit it to sink and rest on the bottom -- being both floating and supported (anchored) at the same time.

7) Said buckets will be far enough away from the shore to be invulnerable to tsunami effects. The tsunami would merely pass on by, never cresting, never reversing.

8) The floatation of the bucket would mean that the ground pressure would be modest. Almost as light as a feather.

9) The buckets would be protected by the USMC and the USN as strategic assets.

10) Their immense scale would generate neutron efficiencies not otherwise possible, perhaps even becoming a 'breeder.'

11) The ocean would be quite a moat, the bucket, quite a 'keep.'
But can you time travel in a Delorean?
 

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AP 1000 nuclear power stations were designed to make the UoCS happy.

The UoCS is pathologically opposed to atomic power.

'Tis a fact.
If that stands for Union of Concerned Scientists, is that another group that needs to either stay in their safe space or learn to deal with facts & reality? I mean how unscientific can you be? :vs_lol:
 
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Has there ever been a nuke plant that was completed on time or on budget?

Limerick Generating Station near me has two units, and through much hippie protest and many delays it still took over twenty years to complete (from approval to commercially generating power).

Even though it's a testament to the engineering that went into it, it is unnerving to realize it's a 1950's design with 1960's & 1970's technology.
 

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BTW, I've LONG solved the design for atomic plants:

1) Mass produced -- up in Puget Sound -- one needs the sound for the design.

2) Concrete super buckets -- a la the super-scale structures used in the North Sea.

3) The reactors -- in these immense buckets -- rest BELOW sea level -- along the coast.

4) They transmit DC power to the shore. ( ASEA technology )

5) If things really, really go wrong, the bucket is flooded -- entirely. You can never run out of cooling water.

6) These atomic buckets can be towed to every coastal site that has enough of a sub-sea footing to permit it to sink and rest on the bottom -- being both floating and supported (anchored) at the same time.

7) Said buckets will be far enough away from the shore to be invulnerable to tsunami effects. The tsunami would merely pass on by, never cresting, never reversing.

8) The floatation of the bucket would mean that the ground pressure would be modest. Almost as light as a feather.

9) The buckets would be protected by the USMC and the USN as strategic assets.

10) Their immense scale would generate neutron efficiencies not otherwise possible, perhaps even becoming a 'breeder.'

11) The ocean would be quite a moat, the bucket, quite a 'keep.'
What happens when the Red Chinese come sniffing?
 

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A big welcome mat out front, but the door locks behind them and we just sink the damn thing with them in it. Send a message to everyone else, we have no problem cutting off our nose in spite of our face.


Edit: shoulda quoted Hax to keep clear where I was going.
 

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What happens when the Red Chinese come sniffing?
nancy pelosi, harry reid, and paul ryan sell them the technology based on how hillary and bill clinton did and got away with it. Seems there is big money in being a traitor.
 

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nancy pelosi, harry reid, and paul ryan sell them the technology based on how hillary and bill clinton did and got away with it. Seems there is big money in being a traitor.
Sure is, rumor has it you can enter the WH with barely a million in your total net worth account and walk out 8 years later a very rich man with a good portion of the country swearing your chit doesn't stink.
 
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Understand that Westinghouse was broken up. The component of the company that this thread talks about is the nuclear power plant arm of the company. There are still other segments out there including licensing of the brand name for anyone who wants to pay for it under their terms. Unfortunately for them it's no longer a favored brand. The White company had bought the consumer appliances division but even that didn't survive as far as I know. "You can be sure if it's Westinghouse". I previously worked for the defense manufacturing segment of the company in the early 1980's. We did mainly Navy & Air Force contracts. Pretty cool stuff.
 

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Understand that Westinghouse was broken up. The component of the company that this thread talks about is the nuclear power plant arm of the company. There are still other segments out there including licensing of the brand name for anyone who wants to pay for it under their terms. Unfortunately for them it's no longer a favored brand. The White company had bought the consumer appliances division but even that didn't survive as far as I know. "You can be sure if it's Westinghouse". I previously worked for the defense manufacturing segment of the company in the early 1980's. We did mainly Navy & Air Force contracts. Pretty cool stuff.
Is that what happened with the TV's? I remember Westinghouse was a great brand name, until they started selling flat screen TVs under their name, which were cheap garbage. It ruined the whole company name.
 

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Is that what happened with the TV's? I remember Westinghouse was a great brand name, until they started selling flat screen TVs under their name, which were cheap garbage. It ruined the whole company name.
Kind of like Milwaukee or Klein meters..........

Trying to hard to get more of the market share.
 

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Is that what happened with the TV's? I remember Westinghouse was a great brand name, until they started selling flat screen TVs under their name, which were cheap garbage. It ruined the whole company name.
The consumer appliances were spun off long before I worked for them. It was the White company that bought it and traded under the brand White-Westinghouse. After that fell, someone acquired the trademark and has licensed it since. You can brand your products under their name today if you want but I don't know anyone who would want to. The last thing I recall seeing with the name on it was computer monitors. I'm sure it was Chinese trash branded under their name. Nobody has been able to get it going anywhere close to where it used to be in the '60's & before.
 
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