How To Get Rejected From A Job You Don’t Want – Forbes
How To Get Rejected From A Job You Don’t Want Forbes
There’s a significant risk in receiving an offer for the wrong job: You may end up taking it. Here’s five tips to stop that from happening.
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POWER’s Top 10 Most-Read Stories from 2018
There’s never a dull moment in the power industry, and like most years, 2018 was filled with many interesting developments. As it has been for more than 135 years, POWER was there to break the news. The following 10 articles were the most-read online stories of the year.
#10: New York Denies Air Permit for New Gas-Fired Power Plant (8/7/2018)
Competitive Power Ventures’ (CPV’s) Valley Energy Center—a natural gas-fired power plant in Wawayanda, New York—had planned to ramp up to full operations in August, but the state’s Department of Environmental Conservation (DEC) denied the plant’s request for renewal of its air state facility permit because it lacked a federal Title V air permit. CPV sued DEC and asked for a hearing on the matter, seeking an injunction that would allow the plant to operate. The state Supreme Court in mid-August said the plant could resume startup tests pending a decision on the federal air permit. The facility achieved commercial operation on October 1, but questions remain regarding the permit situation.…
Increasingly Debt-Laden, Regulated Utility Sector Outlook Veers from ‘Stable’ to ‘Negative’
For the first time since it began conducting sector outlooks, Moody’s Investors Service has downgraded the regulated utility sector from stable to negative. The new outlook reflects a surge in financial risks in the sector as more individual companies in the regulated space funnel funds to debt.
Using an analysis of 42 of the largest U.S. utility and power holding companies and 102 utility operating companies with at least 10 years of financial data, Moody’s concluded in a June 18 report that the outlook clearly points to a “declining financial trend” in the sector. The trend is a function of “higher holding company debt levels incurred in the last few years” as a result of lower cash flows, and “a lower deferred tax contribution to cash flow going forward due to tax reform.”
The credit rating agency’s downgrade is mostly rooted in “degradation” of key financial credit ratios. These include the ratio of cash flow from operations to debt; funds from operations (FFO) to debt and retained cash flow to debt; as well as certain book leverage ratios.…
From the Pages of POWER Magazine: #TBT #ThrowbackThursdays
In early 1882, U.S. industry was still heavily dependent on the water wheel, and many housewives cooked on wood-burning stoves. Power was made where it was used because there was no effective means of transmitting energy long distances. But 1882 was a year of dramatic changes. The world was just beginning to grasp the implications of a new, incredibly versatile form of energy—electricity.
POWER magazine was launched that year, not too long after introduction of the first practical steam engine by James Watt in England. The steam engine enabled development of industries based on mechanical—rather than human or animal—energy. Soon, just about every manufacturing plant had its own steam-engine power plant. During this paradigm-shifting period, POWER participated in the development of the engines that powered the Industrial Revolution.
From the beginning, POWER had to keep editorial pace with a fast-developing technology and a market strongly influenced by the fantastic economic growth of the post–Civil War period. New products and scientific advances proliferated, and the magazine’s pages reflected the changing world around it.…
SCANA Hit with New Subpoena From SEC
SCANA Corp., already under federal and state scrutiny for how it handled the now-abandoned V.C. Summer nuclear expansion, has been served with a document subpoena by the U.S. Securities and Exchange Commission (SEC).
SCANA said in a news release that it intends to fully cooperate with the investigation of the nuclear project. The development follows a drastic drop in the company’s share price in late September.
SCANA and project partner Santee Cooper in mid-September received federal subpoenas for documents associated with a much-guarded February 2016 assessment report conducted by Bechtel, documentation of meetings with the construction and civil engineering firm, and documentation of site walkdowns and real-time observations at the half-built project.
South Carolina lawmakers on September 26 urged state law enforcement to conduct a criminal investigation into how the project was handled. The measure came after several legislative committee hearings, many focused on the Bechtel audit. At one point, state lawmakers threatened to subpoena if the utilities didn’t release it.…
Court Dismisses Westinghouse Claim for $2B Recovery from CB&I
More grim news emerged for financially strapped Westinghouse after the Delaware Supreme Court reversed a chancery court decision that the company was counting on to recoup $ 2 billion from an acquisition dispute with Chicago Bridge & Iron (CB&I).
The court rejected Westinghouse’s contention of CB&I’s calculations of its final purchase price—even though it paid nothing for the company up front. In favor of CB&I’s pleading, the court also ruled that nearly all of Westinghouse’s claims would not be presented to an independent auditor.
A Contentious Relationship
Westinghouse took the desperate step of filing for bankruptcy protection in March 29, crippled by financial setbacks stemming from half-built AP1000 reactor projects in Georgia and South Carolina. In documents associated with the filing, Westinghouse pointed to compounding delays associated with federally mandated design changes to the Vogtle and V.C. Summer projects, as well construction challenges, all of which played into the exorbitant cost increases that ultimately caused its financial debacle (for more, see How Westinghouse, Symbol of U.S.…