Japanese Government Backtracks Again: Edano Says No Plan To Nationalize TEPCO

Tyler Durden's picture

If there is one thing the Japanese authorities are consistent in, it is their complete lack of consistency. First the government leaks information that it will nationalize TEPCO, sending the market panicking and the stock (9501.JP) triggering circuit breakers after it goes bidless, and a few hours later after seeing the devastation this is doing on the market (Nikkei down 1.5%), it backtracks and says it was only kidding. From Reuters: "Japan's government is not considering nationalising Tokyo Electric Power Co , the operator of the stricken nuclear plant, Chief Cabinet Secretary Yukio Edano said on Tuesday." See, they were only kidding. Or, a very clever Japan has decided to not "nationalize" TEPCO in the same AIG was not nationalized, with a whopping 2% of the outstanding stock remaining in private hands following an infinity to one dilution.

The rest of the story is known by all at this point:

The Yomiuri newspaper, citing unidentified government sources, reported that the government would temporarily nationalise TEPCO, taking a majority stake, and would help manage it and help it pay compensation for damage caused by its Fukushima nuclear power plant after it was knocked out by a massive earthquake and tsunami on March 11.

That said, would one expect anything less from an administration that does not know the difference btween 10 million and 100K...

 

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LostWages's picture

So sorry for confusion.  JK, LOL ;-)

Only glowing reports for TEPCO.

SwingForce's picture

Gawdamm assholez.....

Atomizer's picture

If I had a dollar hedged for everytime I heard this.

The Power of Nightmares - 3 of 3 - The Rise of the Politics of Fear - The Shadows in the Cave

http://www.youtube.com/watch?v=qATc5jRbVOA

Lord Welligton's picture

It works every time.

Fear. Of what?

Your own ignorance.

We are all ignorant and "they" who also are ignorant know it.

So "they" use it.

The thing being that "they" know that "they" are ignorant and know the "we" think "we" are not.

So they offer "us" ignorant choices.

And "we" make decisions based on ignorance.

 

Atomizer's picture

Lord Wellington,

Your comment made my head spin. It looks like Google nicked this sometime this weekend. Have another read

http://webcache.googleusercontent.com/search?q=cache:pGw5abVSwv0J:www.ctc.usma.edu/sentinel/+combatting+terrorism+at+west+point&cd=3&hl=en&ct=clnk&gl=us&source=www.google.com

This weekend post

http://docs.google.com/viewer?a=v&q=cache:NSHgHmk3Dy0J:www.ctc.usma.edu/harmony/pdf/CTCForeignFighter.19.Dec07.pdf+combatting+terrorism+at+west+point&hl=en&gl=us&pid=bl&srcid=ADGEEShfLZ7kK48_Xx_L58YLILGVdZefkxDoVFbhHVjkwbAzKDO8RlxVleZXZpKAJeT9iZv8mNLmUYGNDs1wRQDfvWP3-JyPJZSqka18yFueEq5ZFYah1nGsEPWnMqFYMgQ8uLu6U1Sk&sig=AHIEtbR9ISS-Be4R9exG2Iilti1b4vZXog

I can't tell you how long Obama will remain POTUS. I can tell you, he is breaking laws.

Obama, if your reading this. Your being set up as a low class Muslim/Negro stealing from the US peasants. Your very own PC agenda will backfire on you. It's all by design. One day in the near future, you're going to be made a mockery by your own boss... Georgy. In the meantime, take another vacation cuz your days are tits up.

Congress is not going to be kind to you. Your lie on TV tonight didn't fool anyone. You've broke too many US laws to avoid legal consequences. Do you think you have the courage to tell the public the truth or are you going to be silent during removal from office?

This is no longer about front/back seat drivers. You have a fork in the road; Mr. Obama, what is your path?

Lord Welligton's picture

"Your comment made my head spin."

Quite.

I had to spin my head to make it.

f16hoser's picture

Apparently Buffet had something to say. "Turn those machines back on"

JohnnieWalker's picture

This is the only bit of good news TEPCO has heard lately. The situation is going from bad to worse:

http://www.bbc.co.uk/news/world-asia-pacific-12881015

 

espirit's picture

After reading the article, I wonder what levels of plutonium are considered hazardous to human health?

Duh-oh!

Matte_Black's picture

"...bad to worse."

I guess it's just semantics, but it seems to me like it's going from catastrophic to apocalyptic.

If the Japan gov can move this quickly in order to calm market turbulence, why can't it seem to do so with the the Daiichi plant?

Depressing.

Careless Whisper's picture

gov sez that plutonium can't hurt you, but marijuana can.

Matte_Black's picture

There's a punchline in there somewhere. I just cant decide if it's about 'gateway' drugs to apocalypse, or transfats, or childhood obesity.

Otoh, maybe I'm wrong and the punchline was the word 'government'.

Oligarchs Gone Wild's picture

It looks like the Japanese have also restored the major transit infrastructure - claiming 90% up and running now?  I believe I also heard today that Sendai was also handling traffic today, but this article says it's not...

TOKYO (Nikkei)--Almost 90% of major land, sea and air transportation networks disrupted by the March 11 earthquake have been restored, according to Transport Ministry data.

Save for Sendai's tsunami-swamped airport, all 12 airports in the region are back in operation, including for public use. The Hanamaki, Yamagata, Fukushima and other airports are open around the clock to handle Self-Defense Forces and U.S. military transport planes.

http://e.nikkei.com/e/fr/tnks/Nni20110328D28JFF01.htm

 

Oligarchs Gone Wild's picture

This article claims that Sendai airport is actually open and moving goods.  Perhaps it's only open for relief efforts and not public use.

http://www.pacaf.af.mil/news/story.asp?id=123248914

 

 

espirit's picture

I smell a meltdown.

ZackAttack's picture

And all these reactors were supposed to be either idle or in cold shutdown.

Arch Duke Ferdinand's picture

27 Signs That The Nuclear Crisis In Japan Is Much Worse Than Either The Mainstream Media Or The Japanese Government Have Been Telling Us

http://seenoevilspeaknoevilhearnoevil.blogspot.com/2011/03/27-signs-that-nuclear-crisis-in-japan.html

buzzsaw99's picture

TOKYO (Nikkei)--Nikkei Inc. will reconfigure the stocks used to calculate the Nikkei 500 index on March 29 and April 1. A total of 13 issues will be removed, and the same number will be added.

The components of the index are reshuffled every year based on turnover, trading value and market capitalization. In addition, some shares are set to be delisted due to the establishment of a holding company and other reasons.

Stocks to be removed on March 29:

Sanyo Electric Co. (6764)

Panasonic Electric Works Co. (6991)

Sumitomo Trust & Banking Co. (8403)

Stocks to be removed on April 1

Culture Convenience Club Co. (4756)

Godo Steel Ltd. (5410)

Nippon Metal Industry Co. (5479)

Tadano Ltd. (6395)

Star Micronics Co. (7718)

Cedyna Financial Corp. (8258)

Daiei Inc. (8263)

Kiyo Holdings Inc. (8415)

Okasan Securities Group Inc. (8609)

Fuji Fire & Marine Insurance Co. (8763)

Stocks to be added on March 29:

Fuji Oil Co. (2607)

Saizeriya Co. (7581)

Senshu Ikeda Holdings Inc. 8714

 

Stocks to be added on April 1:

Itoham Foods Inc. (2284)

Kyorin Co. (4569)

Nihon Kohden Corp. (6849)

Shin-Kobe Electric Machinery Co. (6934)

Nichicon Corp. (6996)

Toyota Auto Body Co. (7221)

Nipro Corp. (8086)

Ogaki Kyoritsu Bank (8361)

Sotetsu Holdings Inc. (9003)

Hitachi Transport System Ltd. (9086)

http://e.nikkei.com/e/fr/tnks/Nni20110323D23SS727.htm

TEPCO not on list (YET)

Nobody special's picture

Kinda suggests where they expect to see gains, don't you think?

Matte_Black's picture

I agree, and also where they expect to see losses. The one-two punch for market prosperity, I guess.

It's an interesting list, in any case.

max2205's picture

Damn it!!!! BTFD. arrrrgggg

Jim in MN's picture

Clearly, we need to split it into 'Good TEPCO' and 'Bad TEPCO'

 

"Buy Bad TEPCO Liberty Flibbertygibbety Bonds: 'Cuz when we say toxic assets, we mean TOXIC!"

buzzsaw99's picture

That is the best idea I have heard all day.

Id fight Gandhi's picture

wow, this should make the markets rally. sounds like they got all the problems solved.

 

 

etudiant's picture

This sterling performance by the Japanese political leadership helps explain their success in dealing decisively with the Fukushima accident.  Poor Japan.

Teamtc321's picture

wtf...And just to think, the people of Japan and half the earth's health are in these 3rd stringer's hand's.

It's time to call in the gun's. Get some help over there asap.

"Sarc on" 

Where is the sierra club or green piece's of shit? Put some trash can boot's wrapped with 100 mile an hour tape on there berkanstock's and drop em in the zone.

Grab a mop and a suction hose bitcheeez.

===========

This is starting to be unreal.....

 

 

 

Crummy's picture

Before this disaster, I would have put Japan as one of the top five countries least likely to revolt.

Now I give it five years till it does.

 

Judge Judy Scheinlok's picture

They only thing they're going to revolt about is the high cost of cemetery condos.

5 years!? Do you know what is going on over there? The makeshift force fed cooling systems are clogging up with salt. I give it 2 days till you hear about fireworks, and then 12 hours till you start to feel the effects.

Nobody special's picture

Let's not forget that the Fukushima 50 have been without sleep for two friggin weeks!  How much longer do you really think they can keep a lid on this?

Judge Judy Scheinlok's picture

As SwingForce says; "I wish they'd stop monkeying around!".

It's all a game of desensitization.

Eireann go Brach's picture

Either way it is bullish

Bubbles...bubbles everywhere's picture

"You dropped nuclear bombs on us, how do you like our radiation now round eye?

djsmps's picture

Don't worry about a tsunami, we will study....Warning Warning Tsunami Coming!

Radiation-san is 10 million times normal....We don't know about that, we will study

We are nationalizing TEPCO....you press-san very funny people, not true, we will study

Oligarchs Gone Wild's picture

Smoke rising today from NH USA Nuclear plant

Meanwhile,  back in "facts-are-too-much-for-you-to-comprehend-WEST" we see that an "unusual event" has occurred at a NH nuclear power plant a few hours ago.  Apparently this is only the 2nd or 3rd of these "unusual events" in 30 years, so we need not fret about said details.

Van Dongen said only two or three such "unusual events" have been reported since the plant began operating in 1990.

http://www.reuters.com/article/2011/03/28/us-newhampshire-nuclear-idUSTR...

Matte_Black's picture

From the article:

"Smoke was detected in a transformer attached to a service elevator in a support building at Seabrook Station in Seabrook, said Jim Van Dongen, spokesman for the state's department of safety.

Oligarchs Gone Wild's picture

Agreed.  I read the article too fast.  Transformers do blow, they are in service elevators and that can certainly cause smoke such as reported.   Because my redacting abilities are now disabled, I want to be on record as concurring, thanks for the correction.

Matte_Black's picture

No worries, brother. I wasn't criticizing you.

From what we've seen in the past two weeks, the place could be well on its way to a level 4 accident, and this is just the later-to-be-corrected bullshit part of the spin cycle.

It has become clear that the plant operators aren't always being honest. Right?

whoopsing's picture

Ahh,I would'nt worry too much about that one Matte,that shit can fry anytime.it does'nt sound that bad

Matte_Black's picture

Yeah, thnaks. I know.

I just wanted to archive what they were saying in case we hear another story later. Probably just feeling paranoid about the issue of corporate/gov. disclosure lately... a little.

: )

Jim in MN's picture

That's a nice plant.  $6.5 billion to build, and $1.2 more for the unfinished pile of concrete and rebar next to it (unit 2).  A happy tale all around.

When I first toured it they had a little yellow rope around the turbine block as they had accidently allowed the cooling water to mix with the steam cycle and irradiated the entire thing.  The little rope was where you couldn't go, a month or so later.

No biggie in the biz...but be sure to wear your ear protection!  WHAT????

Matte_Black's picture

Some of these anecdotes you hear are very disturbing. I seriously wonder how often things go wrong with nuclear fission in the US, and we never hear about it.

Ahmeexnal's picture

Relax, it was just a couple of dudes charbroiling their tacos on the plant's premises.

 

bob_dabolina's picture

You want to see trav7777 at his finest?

Starting here at this comment:

http://www.zerohedge.com/comment/reply/344127/1110976

He says "Do you want the facts or dont you?"

I respond "I want the facts"

He says " I won't speculate without the facts"

What the fuck is that?

From this thread:

http://www.zerohedge.com/article/updated-local-fallout-forecast

This is the bullshit I'm sick of.

Little fuckin' bitch pretending to be an expert.

i-dog's picture

I'm sick of you bitching about Trav! Do you spend your whole life telling tales? Do we look like your mom?

bob_dabolina's picture

Did I ask you a question?.... bitch

If not STFU

Nobody special's picture

If you're gonna complain, you'll get flack for it.  Accept that some would prefer you shut the gap in your face.  I'm with 'the bitch.'

Seriously dude, you need a time out.