Greece's biggest power utility Public Power Corporation, one of the assets earmarked for part-privatisation under the country's third bailout, is toiling under 2.6 billion euros of unpaid bills as poverty-stricken Greeks struggle to get by in Greece's eight-year economic crisis. Laura Frykberg reports Subscribe: http://smarturl.it/reuterssubscribe More updates and breaking news: http://smarturl.it/BreakingNews Reuters tells the world's stories like no one else. As the largest international multimedia news provider, Reuters provides coverage around the globe and across topics including business, financial, national, and international news. For over 160 years, Reuters has maintained its reputation for speed, accuracy, and impact while providing exclusives, incisive commentary and forward-looking analysis. http://reuters.com/ https://www.facebook.com/Reuters https://plus.google.com/u/0/s/reuters https://twitter.com/Reuters
Греция достигла соглашения с кредиторами о ключевых реформах в сфере труда, сокращении расходов и энергетики, приблизившись к заключению сделки перед встречей министров финансов еврозоны, которая пройдет 7 апреля, сообщает Reuters со ссылкой на источники.
Греция достигла соглашения с кредиторами о ключевых реформах в сфере труда, сокращения расходов и энергетики, приблизившись к заключению сделки перед встречей министров финансов еврозоны, которая пройдет 7 апреля, сообщает Reuters со ссылкой на источники.
WESCO (WCC) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.
Via Charles Hugh-Smith of OfTwoMinds blog, Virtue-signaling doesn't signal virtue--it signals decline and collapse. There are many reasons why Imperial Rome declined, but two primary causes that get relatively little attention are moral decay and soaring wealth inequality. The two are of course intimately connected: once the morals of the ruling Elites degrade, the status quo seeks to mask its self-serving rot behind high-minded "virtue-signaling" appeals to past glories and cost-free idealism. Virtue signaling is defined as "the conspicuous expression of moral values by an individual done primarily with the intent of enhancing that person's standing within a social group," "the practice of publicly expressing opinions or sentiments intended to demonstrate one's good character or the moral correctness of one's position on a particular issue" and "Saying you love or hate something to show off what a virtuous person you are, instead of actually trying to fix the problem." Yes, yes and yes. "Virtue-signaling" expresses two other key characteristics of an empire in terminal decline: complacency and intellectual sclerosis. Michael Grant described these manifestations of decline in his excellent account The Fall of the Roman Empire, a short book I have been recommending since 2009: There was no room at all, in these ways of thinking, for the novel, apocalyptic situation which had now arisen, a situation which needed solutions as radical as itself. (The Status Quo) attitude is a complacent acceptance of things as they are, without a single new idea. This acceptance was accompanied by greatly excessive optimism about the present and future. Even when the end was only sixty years away, and the Empire was already crumbling fast, Rutilius continued to address the spirit of Rome with the same supreme assurance. This blind adherence to the ideas of the past ranks high among the principal causes of the downfall of Rome. If you were sufficiently lulled by these traditional fictions, there was no call to take any practical first-aid measures at all. What are those "resisting Trump" proposing as solutions to the profound structural ills afflicting the empire? Gender-neutral bathrooms? A continuation of a dysfunctional immigration policy? Blaming Russia to mask the catastrophic failure of the past 25 years of neocon imperial over-reach? Cost-free "virtue-signaling" proclamations in support of diversity? "Safe places" on college campuses paid for by student loans crushing a vast indentured class of debt-serfs? These status quo policies and cost-free diversions are the acme of a profound complacency and intellectual sclerosis that serve to defend a self-serving, morally corrupt political and financial elite. Virtue-signaling pronouncements lack any recognition of the moral, political, social and financial crises facing the American empire, and are devoid of any practical, politically/financially painful first-aid measures to staunch the decline. Glenn Stehle, commenting on 9/16/15 on a thread in the excellent website peakoilbarrel.com (operated by the estimable Ron Patterson) made a number of excellent points that I am taking the liberty of excerpting: (with thanks to correspondent Paul S.) The set of values developed by the early Romans called mos maiorum, Peter Turchin explains in War and Peace and War: The Rise and Fall of Empires, was gradually replaced by one of personal greed and pursuit of self-interest. “Probably the most important value was virtus (virtue), which derived from the word vir (man) and embodied all the qualities of a true man as a member of society,” explains Turchin. “Virtus included the ability to distinguish between good and evil and to act in ways that promoted good, and especially the common good. Unlike Greeks, Romans did not stress individual prowess, as exhibited by Homeric heroes or Olympic champions. The ideal of hero was one whose courage, wisdom, and self-sacrifice saved his country in time of peril,” Turchin adds. And as Turchin goes on to explain: "Unlike the selfish elites of the later periods, the aristocracy of the early Republic did not spare its blood or treasure in the service of the common interest. When 50,000 Romans, a staggering one fifth of Rome’s total manpower, perished in the battle of Cannae, as mentioned previously, the senate lost almost one third of its membership. This suggests that the senatorial aristocracy was more likely to be killed in wars than the average citizen…. The wealthy classes were also the first to volunteer extra taxes when they were needed… A graduated scale was used in which the senators paid the most, followed by the knights, and then other citizens. In addition, officers and centurions (but not common soldiers!) served without pay, saving the state 20 percent of the legion’s payroll…. The richest 1 percent of the Romans during the early Republic was only 10 to 20 times as wealthy as an average Roman citizen." Now compare that to the situation in Late Antiquity when "an average Roman noble of senatorial class had property valued in the neighborhood of 20,000 Roman pounds of gold. There was no “middle class” comparable to the small landholders of the third century B.C.; the huge majority of the population was made up of landless peasants working land that belonged to nobles. These peasants had hardly any property at all, but if we estimate it (very generously) at one tenth of a pound of gold, the wealth differential would be 200,000! Inequality grew both as a result of the rich getting richer (late imperial senators were 100 times wealthier than their Republican predecessors) and those of the middling wealth becoming poor." Do you see any similarities with the present-day realities depicted in these charts? A self-serving class of Technocrats and bureaucratic Nomenklatura have garnered all the gains, while the bottom 90% have lost ground in wages, wealth and financial security. This Technocrat/Nomenklatura class controls both private and public powers (media, finance, trade, industry, governance and institutions) which serve its own interests. What we have now is a self-serving "virtue-signaling" technocrat class that works for a self-serving political/financial elite that avoids the imperial burdens of military service and taxes while imposing what amounts to an economic military conscription on the working class. This Imperial elite sends these military conscripts around the globe to defend their Imperial interests. Virtue-signaling doesn't signal virtue--it signals decline and collapse. Just as in 5th century Rome--an empire careening toward collapse--those reaping the gains are complacently confident in their moral superiority while their hubris-soaked intellectual sclerosis blinds them to the systemic banquet of consequences that will soon choke their precious self-serving status quo.
WESCO International, Inc.'s (WCC) fourth-quarter 2016 adjusted earnings per share (EPS) of 96 cents beat the Zacks Consensus Estimate by 2.1% or 2 cents.
Акционеры Государственной энергетической корпорации Греции (Public Power Corp., PPC) одобрили вчера, 17 января с.г., передачу 51% акций сетевого оператора ADMIE в рамках схемы "спин-офф", что является важнейшим условием в программе финансовой помощи Греции. В соответствии с законодательно утвержденной схемой, направленной на удержание ADMIE под контролем государства, РРС продаст 24% акций Китайской State Grid за 320 миллионов евро и создаст специальный инструмент для безвозмездной передачи 51% акций государству и существующим частным акционерам. "Внеочередное собрание акционеров РРС утвердило процедуру спин-офф ADMIE," - говорится в заявлении Министерства энергетики. 16 комментариев
The president-elect's control over conventional economic policy could be worth more money than any conflict of interest.
As America enters the Age of Trump, it is important to recognize that what's happening is not just about Trump, and not just about America. Forces kindred to Trump have lately been ascendant around the world. We see different manifestations of this same ascendant force that has borne Trump into the presidency in Putin's Russia, in Erdogan's Turkey, in Britain's Brexit movement, in right-wing ethno-nationalist parties across Europe (France, the Netherlands, Austria, Poland, etc.), in Netanyahu's Israel, and in Duterte's Philippines. Trump himself recognizes this kinship. And one can see a degree of de facto alliance forming among the leaders who embody this dark spirit.* [NOTE below] The global nature of this rising spirit has important implications for how it can be defeated. Although each nation faces its own challenges and its own unique circumstances, a dangerous global phenomenon like this calls for an effective global response. Those who face a common threat always do better to coordinate their resistance. "Stronger together" may not have prevailed in the American elections, but the principle is valid nonetheless. Of course, it is also true that, in each nation, the forces of resistance must do the political work of organizing to win elections within their boundaries. An essential part of the battle, therefore, is at the level of electoral politics within sovereign entities. But clearly, the very fact of the global nature of the ascendancy of this dark force shows that national politics is not the only level involved. When electorates in very different nations are empowering such a dark force, something has been percolating in today's civilization at the level of ideas and passions. Accordingly, it is at that level that part of the battle against this force must be conducted. What is needed, in other words, is a transnational movement to win over the "hearts and minds" of the citizenry of the democratic (or once democratic) nations whose future is threatened by that rising dark force. A global movement at the level of the spirit --dedicated to the values that uplift the human world -- can provide fuel to power the partisan political combat against those in each nation who are channeling this ascendant, dark. transnational force. To envision the nature of what is required of such a movement, we can begin by asking: What is it that this battle is being fought over? And to answer that, we can start with the question: What is the nature of the force (or spirit) that Trump and these others represent. Not all the manifestations - Russia, Turkey, Europe, Israel, Trump's America etc. - are identical. But they all have a common set of directions: Erdogan in Turkey has locked up thousands whom he sees as opposed to him. (Putin, too, has used the force of the state to crush his opposition.) With Trump, there are at this point only hints and threats pointing in such a direction. Across Europe, hatreds against the outsiders have been stirred up. Trump's signature issue, of course, was the demonization of Muslims and immigrants from Mexico. Duterte in the Philippines - with his encouragement of vilgilantism -- has discarded the rule of law. With Trump, once again, who has not yet even come to power, we see signs pointing ominously in that direction, what with his continuous display of disregard for what the law, or even the Constitution, says. In Putin's Russia - and now also in Trump's appointments to his Cabinet - we see a melding of the forces of private wealth with the institutions of public power. The government for and by the people becomes a government of the people but for and by the wealthy and the corporate system. And in most of these regimes, truth is if not the first then at least an early casualty. The killing of journalists in Russia connects with Trump's continual stream of falsehoods, and his evident intention to intimidate the press. (Though each of the different nations show their own mix and degree of such pathologies, the question for all our democracies - most definitely including the United States - is how far in the direction of darkness will they evolve in the years to come if the current battle against this rising force is not won. **) What do these pathologies add up to? One might call it "The Rule of the Thug." I would suggest that the best single designation for this dark thing we see ascendant around the globe is "The Rise of Fascism." Or "The Rise of the Fascistic Spirit." (A similar mix of ethno-nationalism, economic distress and insecurity, and an overweening lust for power gave rise to a similar transnational dark force in the 1930s.) All of which points toward what might be an effective strategy a global movement to help counter the global rise of this dark spirit. For starters, what is needed in such a movement is that it awakens the peoples of the democratic nations to the nature of this battle. People need to see the forest, and not just the trees. People should be helped to see the various political struggles in their own nation (and in others around the world) in a unified, coherent way. They should be helped to see how (almost) every issue (arising in the political sphere) fits into the general rubric of fascistic vs. democratic values. The many specific political battles, in other words, are manifestations of one larger, deeper battle. Whether it is fomenting intergroup hostilities versus a spirit of inclusion; the rule of the few over the many versus the democratic spirit of equality; taking money from those with less to give to those with more versus a concern for the well-being of all; conflict versus cooperation; the use of law to serve power versus using law to serve justice; trashing our planet for short-term corporate profits versus preserving it for the good of all; cruelty vs. kindness and compassion; the subordination of the good of the nation to the ego needs of the ruler versus government for the people; the domination of discourse by the rulers' propagandists versus the free flow of information and ideas; the pursuit of power as the overriding value versus a respect for the demands of justice; all of them are manifestations of the same fundamental choice --between two fundamentally opposed spirits-- with which human civilization is now (again) being confronted. That should lay the foundation for achieving the second purpose of such a transnational movement: to inspire the peoples of the nations to rise to the defense of those values under threat from this fascistic spirit. For too long, those basic values of freedom and of human decency have been taken for granted, and thus have lost their power. Part of the vulnerability of Western democracies to the rise of the fascistic spirit - and this certainly includes the United States - is a result of an attenuation of the passion for the deep values that underlay the emergence of decent democratic societies in the first place. A global movement should work to rekindle those passions, employing all the tools (writings, speeches, rallies, advertisements, etc.) generally useful to social movements: mobilizing the motivated, motivating the tepid, and calling as many as possible of those now aligned with the spirit of fascism to the better angels of their nature. Two fundamentally different visions of the human world are now competing. One of them is now ascendant. It is time for the other, better vision to present itself more powerfully in order to advance those human possibilities that are eminently worth fighting for. More to come about why a global movement can constitute a vital part of an overall anti-fascist political battle, and about how this proposed global movement might work to inspire the people to stand up for civilization's best values. ******************* NOTES: * Trump has shown that he recognizes this kinship in his widely noted bromance with Putin. But he's also shown it in other ways: in his endorsement - at least as claimed by the Philippine leader - of Duterte's handling of the drug problem (with several thousand extra-judicial killings); in Trump's making his first meeting with a British official with ..., the leader of the Brexit movement (and requesting that he be made the U.K.'s ambassador to the U.S.); with his unprecedented meddling in the foreign policy of the man who is still president, in order to support the worst tendencies of Netanyahu's government in Israel (the accelerated expansion of Israeli settlements in the territories that would become Palestianian in any two-state solution). ** For example: Israel is still a vibrant democracy in a way that Putin's Russia is not. One has a free press and independent courts, while in the other these have been brought under the control of an authoritarian regime. But if this force continues to rise, who can say where things may end up? So also in America, unlike in Russia, we have a free press. But with Trump's assault on the media - even before taking power - we are already on unfamiliar territory. How far down that path might we go? In those nations with long-standing and therefore well-established democratic institutions, the process of dismantling them takes longer than in nations - like Russia - in which their venture into democracy was still new when Putin undertook to take it down. But the condition of our American democracy has already been considerably eroded over the past generation, even before Trump managed to win the power of the presidency. As the election of Trump makes clear, it is wise to heed the warnings of distant thunder before they become a storm raging around us. We should not have ever come to this point, and now, having come to this point, we should not make any assumptions about how this is as far down the path toward darkness that things could possibly go. -- This feed and its contents are the property of The Huffington Post, and use is subject to our terms. It may be used for personal consumption, but may not be distributed on a website.
Ormat Technologies, Inc. (ORA) announced that one of its affiliate has signed a 25-year power purchase agreement (PPA) with Southern California Public Power Authority (SCPPA)
FT Calhoun Station Entry Sign - Photo by Rod Adams Omaha Public Power District (OPPD) completed the final requirements for permanently withdrawing Ft. Calhoun Station's electricity generation from the Southwest Power Pool. According to an email from Kim Tracy, the Corporate Secretary Executive Division OPPD, the board of directors pressed forward [...]
Constance Douris Security, Greece has honored it promises to its creditors by implementing economic reforms Greece has implemented financial reforms, and now it is time to restructure Athens’ debt to allow its struggling economy to grow. Sustainable debt would increase investor confidence, improve the country’s credit rating, and play a significant role as to whether Athens reaches its 2017 budget targets. President Barack Obama will emphasize Greece’s need for debt relief during his visit to the country today. The Greek government has demonstrated that it is committed to implementing reforms by revamping its pension system, setting fixed social security contributions and increasing tax rates. Privatization of state assets has also occurred. The Public Power Corporation, Inc. (PPC), Greece’s state controlled power company, sold 24% of the country’s electricity grid operator to China for €320 million. China Cosco Holdings Co. purchased 51% of Greece’s largest port, Piraeus, earlier this year, and an agreement with PPC and China Machinery Engineering Corporation to build a €1 billion power plant in Greece has been signed. Greece has transferred the control of public utilities, the state-run power and water companies, to an asset fund created by international creditors, called the Hellenic Company of Assets and Participations. The fund is also taking control of the state-owned subway operator in Athens, a military vehicle maker and a public property management fund. The Hellenic Company of Assets and Participations is led by an official chosen by creditors and Greece’s Finance Ministry will retain overall control. The fund will control public utilities and other assets for 99 years. Creditors believe that consolidating Athens’ assets under one umbrella will encourage privatization and speed up asset sales. Read full article
YES, THIS IS A POINT I MADE IN MY LAST USA TODAY COLUMN: Holman Jenkins: Hillary, Once Peddled As The Safe Choice, Is Now The High-Risk Candidate. Donald Trump (or any candidate) may not be a solution in himself, but an outsider at least can be an instrument to dislodge an elite and replace it, […]
WESCO International Inc.'s (WCC) adjusted earnings per share (EPS) of 1.05 lagged the Zacks Consensus Estimate by 5.7% or 6 cents. Revenues of $1.86 billion also missed the consensus mark of $1.91 billion.
Президент китайской машиностроительной инжиниринговой корпорации CMEC Чжан Чунь (?hang Chun) во главе делегации высшего руководства компании приедет в понедельник в Грецию для обсуждения и подписания с руководством государственной энергетической компании DEI (Public Power Corporation, PPC) соглашения о стратегическом сотрудничестве в стране и регионе, сообщила греческая корпорация. Подробнее читайте на нашем сайте www.oilru.com
From across the nation an army of men, and a few women, is on the move. They are deployed with tools and gauges, maps and their own know-how in a critical battle. They are shock troops fighting the flooding in North and South Carolina. They are electricity linemen. When disaster strikes, the nation's electric utilities spring into action, sending equipment -- which can range from temporary lighting to the familiar bucket trucks -- hundreds and thousands of miles to the battle. When these first responders reach the site of disaster, they go to work down manholes and up poles, struggle with knotted wires and fallen trees. The work is hard and the conditions are dangerous, but there is a camaraderie that binds linemen from different localities in a common purpose and danger. Those who more usually might rely on a bucket truck, in fine conditions, take out their climbing gear and up the pole they go. The constant danger is electricity itself: the threat of electrocution. Up the pole, there are many other dangers. The pole may be weakened and critters seeking safety may be up there, from raccoons to venomous snakes. When the lights go off, life as most of us know stops. It does not grind to a slow halt, it stops. Elevators, air conditioners, heating systems, ovens, refrigerators, televisions and computers are stranded. Even the pumps for removing water from a flooded basement need electricity. Everyone knows that in an emergency, it is vital to restore the juice. The linemen, often several sleeping in a single motel room or in their trucks, are the heroes who work as many as 19 hours straight to do that. It is rewarding, exacting and well-paid work. A spokesman for the American Public Power Association explains that pay varies, depending on the part of the country, but $100,000 a year is common and earnings shoot up with overtime, as in emergencies. The association represents more than 2,000 publicly owned utilities, serving about 14 percent of the nation's electricity consumers. So it is astounding that for a number of years both the publicly owned and the large, investor-owned utilities, which the Edison Electric Institute represents and account for 80 percent of the power supply, have been having a devil of a time finding workers prepared for a very secure life that has its moments of high drama -- as is the case right now with the crews restoring power to areas devastated by Hurricane Matthew. The problem is that even the most enthusiastic young person cannot just go up a pole without a lot of training: four years of training. In the world of labor, electric utilities are not the only ones gasping for help. There is an artisan labor shortage and it is worsening. One truck operator reckons there are vacancies for at least 50,000 truck drivers. Similar shortages exist for electricians, pipe-fitters, sheet metal workers, stone masons, welders and many other skilled artisans. If all the manufacturing jobs that politicians say they would like to bring back to the United States were to arrive next year, there would be no workers to build the factories, nor a trained workforce to make the goods. The unemployment crisis -- so emphasized in this election year -- is with the unskilled. Part of the artisan problem may be that too many young men and women are being herded into colleges without any knowledge of alternatives for which they might have more aptitude and interest. More college is always seen as a virtue. But who needs four years of college to become an Uber driver? When the APPA tried recruiting in high schools with a video, they found teachers trashed the video. Schools are rated on how many graduates go on to college, not on to training in trades offering job security and satisfaction. There is a future up the pole. -- For InsideSources -- This feed and its contents are the property of The Huffington Post, and use is subject to our terms. It may be used for personal consumption, but may not be distributed on a website.
8point3 Energy Partners LP (CAFD) declared a hike in the quarterly distribution for Class A shares for the third quarter of 2016, bringing the annualized payout to 96.24 cents from 93 cents per share