Yesterday, I wrote about TXU trying to blackmail its customers and the public by saying it would close down plants if it had to pay the fine recommended by the PUC of Texas. Today, they have a different view on things after legislators and the private equity firms trying to buy TXU had something to say about it.
Can you imagine what it would feel like if you were part of a firm trying to pay $45 billion for a company only to have them come out and basically flip the bird to its customers, its regulators and to you? I bet there were some heated conversations yesterday with one Mike McCall, head of the TXU wholesale section where he didn’t do much talking. Serves him right for being a dumbass if you ask me.
I have the feeling KKR and Texas Pacific Group will be in close touch with TXU and all their public relations from here on out. I have no idea whether taking TXU private is a good thing or not (my inclination tells me it’s a cautious positive) but if for no other reason than getting TXU to straighten up and fly right, I’m happy.
One good thing about living in the sticks is that you get your power from a cooperative which means the company has a tendency to want to keep its customers happy given the fact that they own it too.