Solar_Saves

Solar_Saves t1_jcbmx4j wrote

My final word is that the writers of this initiative have given nothing to go on, for us to trust. But say “trust us to do this”… We’ll put company management out to bid… they aren’t even saying that it will save customers money.

Who are they, what’s their experience doing this, how much money will they make if this passes? How can one trust in an unknown entity and undefined process, with unknown costs and outcomes? Co-ops can be as badly managed as any corporate entity, and they don’t tell us who or how they will manage a CMP Co-op, or how much it will cost us.

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Solar_Saves t1_jcbdw2f wrote

No. My healthcare is taken care of, thank you very much and that’s how it should be for everyone in the country.

Just saying that the proposal gives no guarantees, no cost estimates, no savings estimates, no info on who will run it, or who might have the expertise to improve CMPs customer service.

Tell us how this takeover will improve life for Maine and CMP’s customers and how much it will cost. A little estimation and analysis would go far. As an Analyst I want to see their analysis of the proposed buyout. Would you buy any business without knowing total cost, loan or bond payments and payoff, estimated profits, and so much more that should be considered for a buyout.

Right now it seems like the people organizing this endeavor want blank checks to do whatever they want, without supplying any estimates of money or time.

You, and they, say things will improve. Then I am looking forward to their commercials with information showing us all how things will improve. Until then it is all hot air! Prove it- give us examples of previous takeovers, their costs and timelines and how they relate to this proposal.

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Solar_Saves t1_jcapgrt wrote

But this over $15 billion buyout is nothing like any single SC co-op has ever done. The fees alone for this buyout would probably dwarf the revenue of most of SC’s co-ops. Then there is securing the $15 billion of securities to pay for it, and right now the cost of borrowing is up. If Revenue Bonds are used, any profits would be payments for the bonds, not otherwise available for the state of Maine’s coffers until bonds get paid off.

There are no guarantees of anything improving, the who, what, why and when of the purchase and any improvements aren’t known.

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Solar_Saves t1_jcamo2c wrote

“The 20 distribution electric cooperatives in South Carolina deliver dependable electric power to 800,000 accounts in South Carolina” As well as 3rd in the country nuclear power supply.

Looks like South Carolina’s electricity business is a lot different than Maine’s, so the economics would be different as well. I doubt if any SC co-op had to takeover and buyout over $15 billion of assets to be created. That should not be a hard concept to understand.

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Solar_Saves t1_jcah9bm wrote

How much did it cost to purchase the assets that made up the co-op? Or was the co-op created to install and service the electricity delivery hardware from the get go?

Did the co-op also produce the electricity? CMP doesn’t produce the electricity so there would be no savings on the electricity itself. Nor do we know if there would be any savings…

It would most likely take several years and millions of dollars spent (paid to lawyers, not Maine’s citizens) to make the purchase. And since they are going to farm out the running of the resultant quasi-governmental entity to some currently unknown bidder, there are no guarantees that customer service and/or servicing their grid assets will remain the same or improve or if there would ever be profits!

To succeed this project should state

  1. who will run it,
  2. how they will improve the customer service experience,
  3. what profits, if any, should the State of Maine expect?

Otherwise this issue is too open ended to approve.

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Solar_Saves t1_jca4v55 wrote

The only people that will save (make!) money off of this buyout are the banks which finance it and lawyers that write the paperwork.

We the people that purchase electricity won’t save a penny in delivery costs, remember that CMP just owns and cares for the hardware that delivers electricity, they don’t make electricity.

Those who created this initiative did so because of CMP’s customer service ratings, but have not released any plans on how they would improve CS ratings. I believe that if this purchase goes through, they will hire some bidder to run the company…

No guarantees of any improvements, just a whole lot of bullsh!t procedures that will make lawyers rich as they process the changeover and some currently unknown entity (low bidder) will be hired to run the corporation.

Better the devil you know than the devil you have no idea about, wasting millions of dollars to process the change of ownership…

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Solar_Saves t1_iudu9xy wrote

A good sturdy pressure treated wooden structure that is secured usually works. That way it can only be uncovered with power tools, in case you might need the water at some point in the future. You could dress it up with an old fashioned wishing well type structure over the secured cover… Beyond that, how much are you willing to spend?

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Solar_Saves t1_iuax58w wrote

I like how when asked about Social Security and Medicare, he says “my 94 year old mother depends on Social Security and Medicare… Why would I cut a program that my own mother depends on?” A quick google and you find out Poliquin is worth “Bruce Poliquin's estimated net worth for 2017 is $14,223,507”… A millionaire that makes his mother depend on Social Security? And Medicare ? Really? Sounds like an ungrateful son to not help his own mother out with a few million in some family holding company…

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Solar_Saves t1_iqu4k9o wrote

The original Maine Hunting Shoe/Bean Boot is built for comfort and dry feet when walking on trails. There are also thinsulate lined and pack boots which keep your feet warmer in winter. Best thing to do is get a seasonal job with Beans- they hire plenty temporaries to handle the Christmas rush. You get a discount on new clothes and can find amazing bargains for returned items at the employee store.

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