TMI - Bargain or future liability

["Sandy Perle" <sandyfl@earthlink.net>]

GPU recently sold the TMI unit to PECO for a mere $100M. Some 
have stated that this was a shrewd business decision, since it 
would cost considerably more than that to purchase an equivalent 
amount of electrical output. Was it an excellent business decision, 
or, one that will cost PECO considerably more in the future? The 
answer to that will have to wait. In the interim, one can consider 
this: If the unit is worth considerably more, and could have brought 
in the initial estimated $600M, then why would GPU sell it for only 
$100M? It's not like GPU was cash poor, and had to take an 
inferior offer. Could it just be that GPU knew that unloading TMI at 
this point in time would be an action that just had to be done, to 
prevent further cash outlays? Again, time will tell.

I only know that last week I expended a lot of time and money to 
FedEx an auto Title transfer back and forth between Calif. and FL, 
just to unload a 1989 Mercury Cougar LS, for a total of $150. Why, 
because I knew that it was time to unload it, NOW, to prevent 
future costs and liability. I feel a lot better right now, knowing that it 
is NOT still sitting in my FL driveway, while I write this post. 
Perhaps GPU feels the same way. PECO should be asking 
themselves, why was the purchase so cheap!
------------------
Sandy Perle
Technical Director
ICN Dosimetry Division
Costa Mesa, CA 92626
Office: (800) 548-5100 x2306 
Fax:    (714) 668-3149
  
sandyfl@earthlink.net
sperle@icnpharm.com

Personal Website: http://www.geocities.com/CapeCanaveral/1205
        
ICN Dosimetry Website: http://www.dosimetry.com

"The object of opening the mind, as of opening 
the mouth, is to close it again on something solid"
              - G. K. Chesterton -

The opinions expressed are solely, absolutely, positively, definitely those of the author, and NOT my employer