CreamyLady
Uncompromising Visionary
- Joined
- Apr 20, 2000
- Posts
- 2,685
I predicted the current power difficulties in California. I really did.
Actually, I predicted, to WitchsKat, the current fiscal mess that Southern California Edison is in some months ago.
I would love to say that I saw it in the cards, or my crystal ball, or even in a vision. To be honest, I saw it when I had forgotten, yet again, to write the check and they slammed off my power in less than the usual time.
I paid the bill, was reconnected, and went merrily along for one month, when they did it again. And, the following month, again.
I'll admit I'm slow on the uptake, but I finally gathered together the bills from the four corners of the house, and not only caught up, but paid in advance. I realized that their rather polite policy of waiting until there really was no option but to turn of the power, and then after a telephoned warning, was no more. They meant business. They were really serious about this shit.
Aha, I thought. Cash flow. I pondered, in a leisurely way, why this sudden, no-nonsense approach to keeping the cash flowing.
Duh. They have to PAY for something.
Then I thought further back, to the days when I worked for public finance attorneys. I began to visualize the various documents I had worked on, including subordinated debentures for the various power projects -- subordinated debentures in the "J" series, last I recall.
The holders of those bonds will be waiting for that cold day in hell before they realize a dime. I thought so at the time, too, but figured they bought them for the loss.
The PUC has given SoCal Edison and PG&E a 9% increase in rates for the next 90 days. They had asked for a 30% increase. Standard & Poor's has downgraded their securities to junk status. Both are at the brink, nay, toes over the edge of Chapter 11.
In the meantime, I have checked my supply of long-burning candles and matches and stable holders. I've pulled the ice chest and barbecue from the garage, and cleaned them out.
I have only one question. Any ideas on running a computer without electricity? I'd really, really like to know.
Actually, I predicted, to WitchsKat, the current fiscal mess that Southern California Edison is in some months ago.
I would love to say that I saw it in the cards, or my crystal ball, or even in a vision. To be honest, I saw it when I had forgotten, yet again, to write the check and they slammed off my power in less than the usual time.
I paid the bill, was reconnected, and went merrily along for one month, when they did it again. And, the following month, again.
I'll admit I'm slow on the uptake, but I finally gathered together the bills from the four corners of the house, and not only caught up, but paid in advance. I realized that their rather polite policy of waiting until there really was no option but to turn of the power, and then after a telephoned warning, was no more. They meant business. They were really serious about this shit.
Aha, I thought. Cash flow. I pondered, in a leisurely way, why this sudden, no-nonsense approach to keeping the cash flowing.
Duh. They have to PAY for something.
Then I thought further back, to the days when I worked for public finance attorneys. I began to visualize the various documents I had worked on, including subordinated debentures for the various power projects -- subordinated debentures in the "J" series, last I recall.
The holders of those bonds will be waiting for that cold day in hell before they realize a dime. I thought so at the time, too, but figured they bought them for the loss.
The PUC has given SoCal Edison and PG&E a 9% increase in rates for the next 90 days. They had asked for a 30% increase. Standard & Poor's has downgraded their securities to junk status. Both are at the brink, nay, toes over the edge of Chapter 11.
In the meantime, I have checked my supply of long-burning candles and matches and stable holders. I've pulled the ice chest and barbecue from the garage, and cleaned them out.
I have only one question. Any ideas on running a computer without electricity? I'd really, really like to know.