Investors Of Japan’s Most Hated Corporation, TEPCO, To Be Bailed Out Forever

testosteronepit.com TEPCO, the mega-utility with about 49,000 employees that owns the Fukushima Daiichi nuclear powerplant where three reactors have melted down, and whose lackadaisical handling of the fiasco has been a fiasco in itself, has already been bailed out with taxpayer money shortly after the disaster. And it’s getting more open-ended taxpayer support as the government decided to step in and deal itself with the problem of highly radioactive groundwater that is leaking into the ocean at a rate of 300 tons per day, according to the latest estimates. But now the government said: let’s not hurt the investors! The technologies for dealing with the groundwater contamination have yet to be invented. One of the measures bandied about is to install giant refrigeration equipment to freeze the soil around the reactor and turbine buildings; it would stop the oncoming groundwater from surging into the buildings. Realistic or not, the costs are enormous and mounting. So the government decided last month that the taxpayer will pick up the tab. Now the question is being debated if TEPCO, in return, should go into bankruptcy and be liquidated. In such a scenario, the operating company might be taken over by the government. Stockholders and bondholders would get to fight over their then mostly worthless scraps in court. to read more click here: testosteronepit.com