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Bill Gates' Energy Co. Files For Bankruptcy

Tyler Durden's picture




 

Submitted by Charles Kennedy via OilPrice.com,

Bill Gates’ Texas energy company has filed for bankruptcy protection as the depressed power market results in untenable financial losses.

The company, Optim Energy (EnergyCo LLC), owned by a Gates investment fund, filed Chapter 11 Bankruptcy papers on Wednesday for its three power plants in eastern Texas, citing their inability to counter growing losses in the current market.

"The current depressed economic environment of the electric power industry – particularly with respect to coal-fired plants – and the debtors' liquidity constraints have resulted in continuing losses that, simply put, have left the debtors without alternatives," media quoted Optim CEO Nick Rahn as saying in court documents.

According to the documents, Optim has $713 million outstanding under a credit agreement with Wells Fargo, while its total estimated assets are worth less than $500 million. For 2013, Optim recorded revenues of $236 million.

According to the Wall Street Journal, Optim said its executives had failed to obtain consent to borrow more money under a credit facility.

Optim is reportedly planning to sell its coal-fired Twin Oaks plant during the bankruptcy, while the other two plants natural-gas fired.

Optim was founded in 2007, and electricity prices began to fall shortly afterwards, hindering the company’s ability to repay borrowed money.

Reductions in natural gas prices have hit power companies hard over the past several years, and Optim is the third to file for bankruptcy recently, following Dynegy Inc and Edison Mission Energy.

Optim notes in its court filings that the price of electricity in the company’s market area has fallen roughly 40% in the past five years, from around $63.24 per megawatt hour in 2008 to around $38 per megawatt hour by December 2013.

Optim’s owner, ECJV Holdings LLC, is owned by Cascade Investment LLC, an investment vehicle for Gates, the Microsoft Corp. co-founder and the world’s richest person, according to Bloomberg.

 

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Fri, 02/14/2014 - 14:02 | 4436903 Croesus
Croesus's picture

Too bad Bill Gates isn't filing for bankruptcy...

Fri, 02/14/2014 - 14:02 | 4436917 VD
VD's picture

so much for peak oil lulz...

Fri, 02/14/2014 - 14:08 | 4436937 Oh regional Indian
Oh regional Indian's picture

Don't Cascades usually flow downwards?

The guy is a freak. 

Energy winter cometh. Tottering house of cards.

ori

Fri, 02/14/2014 - 14:14 | 4436952 NotApplicable
NotApplicable's picture

WAT??? Electric rates have never decreased in my entire life.

Fri, 02/14/2014 - 14:15 | 4436961 Oh regional Indian
Oh regional Indian's picture

Watthour you saying????!?!?!?!???

Fri, 02/14/2014 - 14:17 | 4436980 kliguy38
kliguy38's picture

vaccinate his azz and put him on GMO ...that'll finish that putz off

Fri, 02/14/2014 - 14:59 | 4437135 gmrpeabody
gmrpeabody's picture

"Reductions in natural gas prices have hit power companies hard over the past several years"

What am I missing here...?

Falling jet-fuel prices are causing airlines to cancel flights and layoff workers...<sarc>

Fri, 02/14/2014 - 15:05 | 4437171 firstdivision
firstdivision's picture

Only the spot price has hit rediculous levels.  FWDs are saying NG not going to go very high.  These d-bags probably locked in massive long-term contracts in the summer of '08.

Fri, 02/14/2014 - 15:30 | 4437277 Flakmeister
Flakmeister's picture

If you are burning coal, low NG prices allowing your competitors to squeeze your margins certainly does...

Fri, 02/14/2014 - 17:38 | 4437717 Lumberjack
Lumberjack's picture

Wind, which is intermittent,is the problem here being allowed special preferential access to the grid. The gas plants need to be kept 'hot' and burn fuel inefficiently (and increase costs) so they can ramp up and generate electricity (within 15 minutes) when wind goes offline (same with solar). They cannot be cold started in that 15 minute window. Same goes for coal/oil/biomass.

 

 

Fri, 02/14/2014 - 18:38 | 4437895 americanspirit
americanspirit's picture

You nailed it Lumberjack - 100+.  except for biomass. A properly designed biomass-to-biogas generating plant will never go offline. However, it will also never be profitable - unless the designers are able to understand that generating power is only one leg of the revenue stool for AD. And unless they are using something as biomass that is FAR higher yield than what the industry currently uses.

 

Fri, 02/14/2014 - 18:56 | 4437955 Flakmeister
Flakmeister's picture

That flies in the face of every thing I have heard about NG fired plants, but I may be short on some details...

Sounds like your beef with wind and solar. I'll give you a hint, either we figure out how to make wind and solar work or it is game over...And even if we do get them to work, it may still be game over...

Fri, 02/14/2014 - 19:41 | 4438074 Lumberjack
Lumberjack's picture

The push for more wind requires about an equal amount of firm up/back up power.

Fri, 02/14/2014 - 14:20 | 4437000 krispkritter
krispkritter's picture

 'losses in the current market' Shocking. Rofl...

Fri, 02/14/2014 - 14:25 | 4437008 max2205
max2205's picture

Cntl alt del

Fri, 02/14/2014 - 15:04 | 4437181 Okienomics
Okienomics's picture

"WAT??? Electric rates have never decreased in my entire life."

 

If that's the case, then you live in a state with a soviet-style monopoly utility regime.  This is a topic with which Okie has more than a little experience.  When natgas prices collapsed in 2008, states with competitive ('deregulated') electricity markets saw prices fall hard.  This is one of the reasons TX is doing well, because so much of the state's power is natgas fueled and the electricity market is fiercely competitive.  But it isn't just TX.  We've helped industrials negotiate power deals across the U.S., and have seen substantial savings for our clients in IL, OH (big savings in OH), MA, MD, NJ, NY, PA.  But we may be turning a corner.  Natgas storage numbers are extremely low and there is much upward pressure on prices.  I've said before, will say again, low natgas prices have been one of the few non-FRB sources of strength for the U.S. economy.  I don't think most people appreciate the impact except in their personal fuel bills, but industrials, petrochemicals, commercial real estate, and utilities are major natgas buyers, and those costs flow through every bit of the economy.  If we see one more cold snap in March and natgas futures hold over $5/Dth, the Fed will get it's inflation.

Fri, 02/14/2014 - 15:13 | 4437216 NotApplicable
NotApplicable's picture

Deregulated??? Fuck, service areas are set "in law" by the state legislature, and that's not even getting into the PSC.

Won't anyone think of the poor bureaucrats?

 

Fri, 02/14/2014 - 15:16 | 4437238 firstdivision
firstdivision's picture

There's a difference between the wires side and supply side of the electricity markets.  The name on the top of your bill isn't your electricty supplier all the time. 

Fri, 02/14/2014 - 15:18 | 4437246 Okienomics
Okienomics's picture

That's why I put the word ('dergulated') in quotations in my post.  That said, I really don't want multiple sets of competing power lines criscrossing the landscape.  There is something to be said for the concept of "natural monopolies."  Vertically integrated electric utilities is arguably a case in point, but since the Okie makes a good living helping negotiate power deals in competitive areas, he won't argue the point, much.

Fri, 02/14/2014 - 16:00 | 4437375 LMAOLORI
LMAOLORI's picture

 

Everyone should think about this when they see the common man filing for bankruptcy - people like Gates the WORLD'S RICHEST MAN who also avoids taxes by hiding his wealth in the Gates Foundation could easily afford to pay these bills but files bankruptcy.

Fri, 02/14/2014 - 14:18 | 4436969 Thorny Xi
Thorny Xi's picture

Maroon ... oil has nothing to do with electric power generation, other than in mining and transport of coal and to some degree, natgas.  In that regard, it raises the costs of coal. The wholesale electricity market's been nuked by the hype of shale gas, which slashed those prices, making coal plants untenable - for now.  Since natgas has already more than doubled from recent artificial lows, and shale gas depletion rates are over 60% falloff year one, 30% year two and 10% thereafter, coal plants will become viable again.  Right after Uncle Warren repo's these.

Fri, 02/14/2014 - 15:14 | 4437218 Okienomics
Okienomics's picture

Bill's friend Warren is also in a good position to end up with a piece of the soon-bankrupt "Energy Futures Hodling Company" which was at the time the largest leveraged buyout in history in teh $50B range.  EFH (also known as TXU) will file and Buffet is a creditor.  He also owns generation via MidAmerican Energy. 

Fri, 02/14/2014 - 14:19 | 4436975 Stoploss
Stoploss's picture

Here is how they arrive at the recovery...

https://www.youtube.com/watch?v=DW0VxxoCrNo

Fri, 02/14/2014 - 14:17 | 4436984 Harbanger
Harbanger's picture

They are coal plants, Obama promised to bankrupt the coal industry, what's the surprise.

Fri, 02/14/2014 - 14:46 | 4437087 bluskyes
bluskyes's picture

What's the surprise? How about that he's keeping his promise.

Fri, 02/14/2014 - 15:05 | 4437192 gmrpeabody
gmrpeabody's picture

Well played, sir!

Fri, 02/14/2014 - 15:09 | 4437190 firstdivision
firstdivision's picture

The surprise will be when he reverses that statement due to massive capacity shortfalls with generators shutting down their coal fired plants.  PJM found out first hand last month what relying on NG generation can do.

Dominion is out of the retail energy business, Exelon announced that expected earnings this year to be way down.

Fri, 02/14/2014 - 14:05 | 4436920 viahj
viahj's picture

"The current depressed economic environment of the electric power industry – particularly with respect to coal-fired plants – and the debtors' liquidity constraints have resulted in continuing losses that, simply put, have left the debtors without alternatives,"

he should have bought a railroad instead like Uncle Warren

Fri, 02/14/2014 - 17:31 | 4437698 LMAOLORI
LMAOLORI's picture

 

 

Scumbag Warren just bought into the pipeline business (I call him a scumbag not for this pipeline purchase but his other CRONY CRAP!)

snip...

 

Other oil deals

It also will be expanding its stake in ExxonMobil, the world's biggest oil company, by $3.5 billion. 

Buffett put money into the Alberta oilsands earlier this year, investing $500 million in a stake in Calgary’s Suncor Energy Inc.

He has expressed a lot of faith in energy stocks, paying $5.6 billion to buy utility NV Energy within the past year and investing in exploration company National Oilwell Varco,

He also has publicly endorsed the Keystone XL pipeline, which would carry oil from Alberta to refineries in the southern U.S.

Fri, 02/14/2014 - 14:11 | 4436942 whatsinaname
whatsinaname's picture

Did he invest in Weight Watchers and Crumbs bake shop too ? Weight Watchers "shedding some serious weight" today and Crumbs bake shop has been "crumbling like cookies" lately. Maybe the debt burdens are too high ?

Fri, 02/14/2014 - 14:15 | 4436962 James_Cole
James_Cole's picture

You ought to write for bloomberg. 

Fri, 02/14/2014 - 14:17 | 4436981 Matt
Matt's picture

Maybe compounding interest during economic contraction is bad.

Fri, 02/14/2014 - 14:02 | 4436904 Croesus
Croesus's picture

double-post

Fri, 02/14/2014 - 14:19 | 4436976 Levadiakos
Levadiakos's picture

It should be illegal to wear bangs past the age of 50. I mean really! Why not just wear denim pants paired with a denim shirt and denim jacket! Top it off with some knd of denim hat whay don't cha?

Fri, 02/14/2014 - 14:27 | 4437019 HamRove
HamRove's picture

Thas what they call a Canadian Tuxedo. ;)

Fri, 02/14/2014 - 14:02 | 4436908 Son of Loki
Son of Loki's picture

Forward!

Fri, 02/14/2014 - 14:02 | 4436916 JLee2027
JLee2027's picture

If Gates owns it, he should personally cover the debts.

Unless he wants to shaft his Wells Fargo bro.

Fri, 02/14/2014 - 14:05 | 4436921 Cult of Criminality
Cult of Criminality's picture

Hey Gates

We here you use vaccines to murder.Is this true?

Fri, 02/14/2014 - 14:07 | 4436923 Bunga Bunga
Bunga Bunga's picture

Can't they upgrade their coal plants to Vista? BTW 95% of all ATMs run on XP.

Fri, 02/14/2014 - 14:17 | 4436959 NotApplicable
NotApplicable's picture

I know of Pentium II, Win98 PCs running critical systems in our local power plant

Fri, 02/14/2014 - 14:06 | 4436924 MsCreant
MsCreant's picture

Step right up, step right up, get your coal fired power plant. Do I hear a bid of $1? $1? $1? Anyone?

Fri, 02/14/2014 - 14:06 | 4436929 Bokkenrijder
Bokkenrijder's picture

CTL+ALT+DEL

Fri, 02/14/2014 - 14:11 | 4436930 ThroxxOfVron
ThroxxOfVron's picture

Gates skates and Warren's Fargo either takes a write-off or dumps the defaulted debt onto the FED at face value.

These fuckers are employing the same tired old bullshit: if they make a profit on an investment they keep it for themselves and if they make a loss they pass it off to the taxpayers or get bailed out.

Fri, 02/14/2014 - 14:11 | 4436936 RacerX
RacerX's picture

he must be long[er] windmills and alternative power. One way to squash the competition--buy it out, suck it dry, then push it overboard.

But that's just my paranoia. I'm sure stuff like this doesn't happen for real.

Fri, 02/14/2014 - 14:15 | 4436964 Emergency Ward
Emergency Ward's picture

You are probably onto something there.  The taxpayer subsidies for the windmills would more than offset any losses suffered by the coal plants.  Bill Gates is not stupid.  Too bad he turned out to be a crony-corporatist spy-state prick.

Fri, 02/14/2014 - 15:15 | 4437224 NotApplicable
NotApplicable's picture

Kinda like how Tesla is nothing but a carbon-credit company.

Oh, and BillG is definitely stupid. He left that idiot Balmer with the keys to his castle.

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

 

Fri, 02/14/2014 - 14:09 | 4436940 Unknown Poster
Unknown Poster's picture

Didn't Biden promise to bankrupt coal users?

Fri, 02/14/2014 - 14:11 | 4436951 Fight-Club
Fight-Club's picture

And watch out for more American cities to file for bankruptcy soon:

http://canadafreepress.com/index.php/article/61048

Fri, 02/14/2014 - 14:15 | 4436954 Spungo
Spungo's picture

Blue flame of death?

Fri, 02/14/2014 - 14:18 | 4436967 Chief_Illiniwek
Chief_Illiniwek's picture

Has the fad to blame the weather for anything undesirable passed already?

Fri, 02/14/2014 - 14:18 | 4436973 smacker
smacker's picture

"Bill Gates’ Texas energy company has filed for bankruptcy protection..."

 

My heart bleeds. As a person, Bill Gates was bankrupt years ago.

Fri, 02/14/2014 - 14:17 | 4436986 Atomizer
Atomizer's picture

Oh noes Bill Gates. You cannot play with mother nature.

C(lie)mate #4 (HD)

Sun, 02/16/2014 - 21:53 | 4443642 Mike in GA
Mike in GA's picture

Way, way, way cool link!  Phenomenal! 

Fri, 02/14/2014 - 14:21 | 4436993 williambanzai7
williambanzai7's picture

Which means he will have to disclose it in the MS Proxy Statement.

Fri, 02/14/2014 - 14:20 | 4436994 Spungo
Spungo's picture

I'll never understand the drive people have to start their own company. I'm way too lazy for that. I would rather look for a successful company that already exists then buy shares of it.

Fri, 02/14/2014 - 15:33 | 4437289 dontknowcrapabo...
dontknowcrapabouteconomy's picture

I used to work for the man, but I had a hard time sleeping at night, worried if I would still have my job tomorrow. So I opened my own business and now I don't sleep at all. 

Fri, 02/14/2014 - 14:22 | 4436995 fijisailor
fijisailor's picture

Anyone know what's going on in that region's energy market?  That seems like a huge revenue loss for an area that probably did not see residential rates go down by that much.

Fri, 02/14/2014 - 14:27 | 4437030 Catullus
Catullus's picture

I know a lot.

The marginal price in ERCOT is set by natural gas. Gas is so cheap that the dark spreads (spread between coal and gas) have collapsed. Coal even set the margins a couple of times in Texas meaning that a coal plant was the next marginal unit to be called into service.

It's going on in a lot of places. It's a great time to be a gas generator and a bad time to be a coal or nuclear provider. The nuke guys are getting crushed not just in Texas but in PJM, NE ISO, MISO. Fixed costs, margin positive, high maintenance capex, topline hits hurt.

Retail is a different story. Different dynamic in Texas. Depends on how they manage the portfolio. Sort of agnostic to topline for that business

Fri, 02/14/2014 - 15:28 | 4437273 Parafuso
Parafuso's picture

The dynamic of ERCOT is that it is an island immune from real competition. He said recalling being forced to pay almost twice per Mwh my competitors pay in OK. Worse, it is administered by former executives of the somewhat ex monopoly utility..... Afff....stopping here. Fuck the intrinsically corrupt ERCOT. There.. Said it

Fri, 02/14/2014 - 15:32 | 4437291 Flakmeister
Flakmeister's picture

Further to what you say ERCOT does not have pricing system that encourages building out capacity...

I can't sum it up any better than this:

https://rbnenergy.com/the-night-the-lights-almost-went-out-in-texas-pola...

Fri, 02/14/2014 - 18:04 | 4437802 Catullus
Catullus's picture

I know that event very well. It was a very temporary situation on the coldest morning of the year. That plant lost a lot of money not being available for those handful of hours.

But the capacity market would not have mattered. It's not like they were shutting down a plant because they aren't profitable. the plant is profitable and operates mostly according to plan. The capacity construct is being sold by the Harvard Economics department as some sort of great way to encourage new build. That's just not the case in any market it's been adopted from MISO, PJM, NYISO or NEISO. And the reason is simple, the seperately cleared capacity market causes gen to stay on the grid that should have otherwise shutdown years ago. The supply is higher than what it otherwise should be and the energy price falls. When the energy price falls, the heat rates don't support new build. Now you're stuck with an old, dirty fleet that should have shut down years ago that operates unprofitably and looks for RMR payments to keep running. It's a mess. And what the harvard economics department failed to understand is that the energy price is perfectly capable of allocating resources.

Alberta works just fine as an energy-only market and they arguably have bigger challenges than Texas managing the grid.

Fri, 02/14/2014 - 14:28 | 4437024 Pumpkin
Pumpkin's picture

Who the fuck thought is was a good idea to loan Bill Gates money??  That loan officer should be swinging from a tree!

Fri, 02/14/2014 - 14:31 | 4437048 Atomizer
Atomizer's picture

He was a Wells Fargo subprime lender.

Fri, 02/14/2014 - 14:32 | 4437050 thamnosma
thamnosma's picture

Bill Gates was investing in coal?  Shame, shame on such an Obamabot.

Fri, 02/14/2014 - 14:59 | 4437138 Blano
Blano's picture

Does "do as say, not as I do" ring a bell?

Fri, 02/14/2014 - 15:38 | 4437308 SmittyinLA
SmittyinLA's picture

He invested in Egyption Agribusiness while bombs were flying with US F16 aircover

Fri, 02/14/2014 - 14:38 | 4437060 Ignatius
Ignatius's picture

I'd like to see him do for Monsanto what he's accomplished in energy.

Fri, 02/14/2014 - 14:41 | 4437072 homiegot
homiegot's picture

Because Obama.

Fri, 02/14/2014 - 14:41 | 4437077 Life of Illusion
Life of Illusion's picture

 

He should of purchased oil leases in Eagle Ford,,DF

 

Fri, 02/14/2014 - 14:45 | 4437082 pipes
pipes's picture

Cue: the grid attack...

Fri, 02/14/2014 - 15:06 | 4437172 buzzsaw99
buzzsaw99's picture

if he actually lost money it's a tax writeoff somewhere else. taxpayers, ratepayers, pension fund holders of msft common, always foot the bill for maggots like gates.

Fri, 02/14/2014 - 15:38 | 4437304 SmittyinLA
SmittyinLA's picture

Optim notes in its court filings that the price of electricity in the company’s market area has fallen roughly 40% in the past five years

I bet consumer retail prices have risen 20% or more over the last 5 years

Fri, 02/14/2014 - 15:51 | 4437344 gwar5
gwar5's picture

Just ten months from now...

Meteorologist Joe Bastardi: "89% of coal fired plants that are operating now by supplying electricity will be forced off line on Jan. 1, 2015 by EPA regulations."

In 2011 42% of US electricity as from coal.

In 2015 37% of electricity in the USA will go off line or be switched to expensive alternatives, like gas if the EPA continues to follow through.

Noone's going to be able to can afford skyrocketing energy rates coming.

Obamazuela.

Fri, 02/14/2014 - 16:00 | 4437377 Element
Element's picture

Isn't the lack of energy demand a sort of leading indicator sign-thingy, of advanced economic collapse whoopsies, or something like that?

Fri, 02/14/2014 - 16:16 | 4437439 WTFisThat
WTFisThat's picture

Is this has anything to do with the bankruptcy?

 

http://www.huffingtonpost.com/2014/02/13/ivanpah-solar-plant-opens_n_478...

Fri, 02/14/2014 - 16:42 | 4437513 Flakmeister
Flakmeister's picture

No...

Fri, 02/14/2014 - 16:16 | 4437440 WTFisThat
WTFisThat's picture

Is this has anything to do with the bankruptcy?

 

http://www.huffingtonpost.com/2014/02/13/ivanpah-solar-plant-opens_n_478...

Fri, 02/14/2014 - 16:17 | 4437442 SilverFish
SilverFish's picture

This is why I despise Corp status so much. A guy can run up shittons of debt and just be let off the hook even if he's worth billions, just because the legal status of his get rich quick scheme puts the liability on the back of a nameless and faceless entity and the credit holders have to take the hit.

 

I say, if you start a business, you personally take the hit when shit goes wonky.

Fri, 02/14/2014 - 16:39 | 4437507 NoWayJose
NoWayJose's picture

Someone is not telling the truth -- and it sure looks like this is just a cover-up to allow a graceful exit for Gates from the coal fired plants.  Spot electricity is no where near the cheap price they say:

Electricity Prices Jump From Texas to New York as Demand Rises

By Harry R. Weber - Feb 11, 2014

Spot wholesale electricity prices rose across the eastern half of the U.S. as lower-than-normal temperatures lifted demand above expectations. The low temperature today in Washington may drop to 17 degrees Fahrenheit (minus 8 Celsius), 13 below normal, while in Boston the low may fall to 12 degrees, 12 lower than average, according to AccuWeather Inc. in State College, Pennsylvania. In Houston, the low may reach 31 degrees, 17 below normal.

Spot power at PJM’s benchmark Western hub, which includes Washington, advanced $49.40, or 50 percent, to average $148.77 a megawatt-hour for the hour ended at 10 a.m. from the same time yesterday, grid data compiled by Bloomberg show. Prices at the Eastern hub, which includes New Jersey, rose $55.44, or 53 percent, to average $159.38.

PJM West on-peak power traded $19.92 below the Eastern hub, compared with a discount of $9.22 yesterday and a three-month average discount of $11.55 for PJM West.

In Texas, spot prices at the North hub, which includes Dallas, advanced $31.21, or 51 percent, to average $92.41 a megawatt-hour for the hour ended at 9 a.m. local time from the same time yesterday, while Houston hub prices jumped $13.72, or 22 percent, to average $74.86. North hub on-peak power traded $19.01 above the Houston hub, compared with a premium of $13.60 yesterday and a three-month average premium of $2.36 for the North hub.

Cold weather is expected to continue later this week in parts of the U.S. as another winter storm hits. Ice, sleet and snow falling across the South today will sweep through the Northeast later this week, forecasts show.

To contact the reporter on this story: Harry R. Weber in Houston at hweber14@bloomberg.net

 

 

Fri, 02/14/2014 - 20:26 | 4438202 Catullus
Catullus's picture

Those were spot hourly prices. The forwards don't look like that.

Fri, 02/14/2014 - 16:45 | 4437523 thamnosma
thamnosma's picture

Is it right that Steve Jobs is dead and Bill Gates breathes on?

Fri, 02/14/2014 - 16:47 | 4437525 NoWayJose
NoWayJose's picture

Let me guess - it's the WEATHER!  All those ice storms knocked down the power lines, reducing the demand for electricity????

Fri, 02/14/2014 - 17:26 | 4437687 chistletoe
chistletoe's picture

yessirree bob....

 

spot prices at henry hub have collapsed from $2.6o a couple of years ago, all the way down to $5.37 for the March contracts today ....

 

but the REAL story is being played out at the NY and Boston hubs, where during the middle of some of these colder nights the local utilities have paid as much as $120.00 (yes, I got the decimal in the right place) for the same gas ... and exactly who is it buying these utility stocks thinking that they are making money when their rates are all regulated and controlled by local govenrments???????

Fri, 02/14/2014 - 20:39 | 4438233 Catullus
Catullus's picture

The local utilities did not pay have not paid that much.

Fri, 02/14/2014 - 17:52 | 4437756 tony wilson
tony wilson's picture

nose this

bill gates dad wanted you dead.

like father like son.

you are useless goy take your gmo,everytime you are told to take the vaccine take it.

drink pepsi and coke eat and drink corn syrup sucralose  make corn your friend.

avoid organic dirty ugly foods just buy plastic wrapped stuff.

help out rothschild,rockerfella skank,soros and bill gates.

how can you help them?

by killing yourselves or at the least earting the foods they want you to eat.

Fri, 02/14/2014 - 17:57 | 4437762 lakecity55
lakecity55's picture

Great News!

Maybe it will put a crimp in his plans to eliminate the rest of us. He needs every dime he can get to buy whatever sophisticated death plague he wants to unleash.

If I had the choice, I would actually rather fight the four-eyed fucker in a cage match over Bath House.

Fri, 02/14/2014 - 18:02 | 4437784 Lumberjack
Lumberjack's picture
Car-B-Que alert: Another Tesla Model-S Caught On Fire While Sitting In A Toronto Garage This Month

 

http://business.financialpost.com/2014/02/14/tesla-catches-fire-while-si...

Fri, 02/14/2014 - 21:33 | 4438405 flyingcaveman
flyingcaveman's picture

Has he tried turning it off and then on again?

Sat, 02/15/2014 - 11:31 | 4439315 Vin
Vin's picture

Bill's not really a very good businessman.  He had one good idea, which was to take advantage of IBM when the opportunity presented itself.  That's it.  It netted him billions but that doesn't make him "smart". 

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