Toshiba decides on Westinghouse bankruptcy

[Ksheed]

http://www.reuters.com/article/us-toshiba-accounting-idUSKBN16V04G

[techtoolong]

Unreal news.

[atomicarcheologist]

This has been on the horizon for awhile. Corporate Toshiba has not been pleased with the W approach to business. They were leaning on George's legacy in 2010 when I was doing a project at Madison. I am not surprised with this story.

[techtoolong]

I am not surprised either. Just at the direction they have taken. They used to have their stuff together until AP1000 & CB&I

[Ksheed]

IMHO, the problems date back to Shaw's over-commitment on contracts that they secured prior to being bought out by CB&I. They aggressively secured big contracts at pennies on the dollar to increase their backlog, even though it was obvious that they wouldn't be able to successfully fulfill all of them. Their backlog looked great on paper and CB&I bought them. Then they struggled mightily on the contracts and lost quite a few sites; SONGS, Palo Verde, Wolf Creek, Callaway.

[techtoolong]

Filed early today

[HeavyD]

Our public statement.

https://www.scana.com/docs/librariesprovider15/pdfs/press-releases/03292017-scana-corporation-to-discuss-plans-to-continue-work-on-the-new-nuclear-project-during-a-transition-and-evaluation-period-v7.pdf?sfvrsn=0

[SloGlo]

probly the problem is westinghouse getting inn two construction with s&w/cbi at the domestic sites. westinghouse has never bin a builder, butt a designer. getting in a deal with constructors looked good on paper, knot see much inn practice. plus s&w hadn't bilt new clear plants four decades. blind leeding the mute.

[Ksheed]

Big news continues to be reported: http://abcnews.go.com/Business/wireStory/westinghouse-troubles-loom-sc-georgia-nuke-projects-46454248

Meanwhile, Toshiba reiterated its view that at the root of the problem was the acquisition of U.S. nuclear construction company CB&I Stone and Webster. It declined comment on possible future partners in the rehabilitation of Westinghouse.

Auditors questioned Toshiba's latest reporting on the acquisition of CB&I Stone & Webster after a whistleblower, an employee at Westinghouse, wrote a letter to the Westinghouse president.

[SloGlo]

Big news continues to be reported: http://abcnews.go.com/Business/wireStory/westinghouse-troubles-loom-sc-georgia-nuke-projects-46454248

whale, that shirley is the encyclopedia version of watt aye said...

[GLW]

..............plus s&w hadn't bilt new clear plants four decades......

who has?!?!?!?!?!

[SloGlo]

China Guangdong Nuclear Power Group
China Guangdong Nuclear Power Group
National Thermal Power Corporation
KEPCO E&C
Alpiq

the short list..........

[GLW]

China Guangdong Nuclear Power Group
China Guangdong Nuclear Power Group
National Thermal Power Corporation
KEPCO E&C
Alpiq

the short list..........

they do not build here,...

[Ksheed]

Are you telling me that nuclear construction in PROC is different then in USA???




edit:

GLW,
My apologies, I was on my phone earlier and didn't feel like fumbling around for the sarcasm button.


Here ya go, 

[GLW]

Are you telling me that nuclear construction in PROC is different then in USA???

yes, they build them and put them on the grid,....

....In China, now with 36 operating reactors on the mainland, the country is well into the growth phase of its nuclear power program. There were eight new grid connections in 2015, and five in 2016. Over 20 more reactors are under construction, including the world's first Westinghouse AP1000 units, and a demonstration high-temperature gas-cooled reactor plant. Many more units are planned, including two largely indigenous designs – the Hualong One and CAP1400. China aims to have more nuclear capacity than any country except the USA and France by 2020......

http://www.world-nuclear.org/information-library/current-and-future-generation/plans-for-new-reactors-worldwide.aspx

[SloGlo]

they do not build here,...

eye nebber sayed hear, their, nor any ware...

[GLW]

eye nebber sayed hear, their, nor any ware...

okay,...

who has?!?!?!?!,.....here,....