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Exelon buys Constellation

Started by HydroDave63, Apr 28, 2011, 10:32

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HydroDave63

Apr 28, 2011, 10:32
Resistance is futile!


http://finance.yahoo.com/news/Exelon-to-buy-Constellation-apf-2308513652.html?x=0&sec=topStories&pos=5&asset=&ccode=

Exelon to buy Constellation in $7.9B deal

Jonathan Fahey, AP Energy Writer, On Thursday April 28, 2011, 6:52 am EDT

NEW YORK (AP) -- Exelon Corp. agreed to buy Constellation Energy Group Inc. in a $7.9 billion stock deal Thursday, the latest in a string of acquisitions in the electric power industry.

HousePuke

#1
Apr 28, 2011, 12:51
IMHO, not good news for current Constellation Nuclear employees.
Irish diplomacy is the ability to tell a man to go to hell such that he looks forward to making the trip.

Inspite of inflation, a penny is still a fair price for most peoples thoughts.

HydroDave63

#2
Apr 28, 2011, 03:11
The nuclear Anschluss marches on!

cincinnatinuke

#3
Apr 28, 2011, 03:24
Quote from: HousePuke on Apr 28, 2011, 12:51
IMHO, not good news for current Constellation Nuclear employees.

Care to elaborate?  I am currently a Constellation Employee.

daveyj308846

#4
Apr 28, 2011, 03:31
Hopefully some positions will start opening up at the plant that I've been trying to get into. ;D

HydroDave63

#5
Apr 28, 2011, 03:49
Quote from: daveyj308846 on Apr 28, 2011, 03:31
Hopefully some positions will start opening up at the plant that I've been trying to get into. ;D

Ummm, usually mergers & acquisitions are done with the idea of reducing bodies to maximize profits. Hope you can hold your breath for a few more years...

a|F

#6
Apr 28, 2011, 03:53
More opportunities and locations for some of us... hurry up and retire folks!   ;)

HousePuke

#7
Apr 28, 2011, 05:14
Quote from: cincinnatinuke on Apr 28, 2011, 03:24
Care to elaborate?  I am currently a Constellation Employee.
Exelon has a history of cutting staffing to the bare bones and pushing those that are left to the breaking point.  Once they break they're just replaced and the machine keeps on.
Irish diplomacy is the ability to tell a man to go to hell such that he looks forward to making the trip.

Inspite of inflation, a penny is still a fair price for most peoples thoughts.

RDTroja

#8
Apr 28, 2011, 06:21
Quote from: HousePuke on Apr 28, 2011, 05:14
Exelon has a history of cutting staffing to the bare bones and pushing those that are left to the breaking point.  Once they break they're just replaced and the machine keeps on.

True. I lost a job at Calvert Cliffs just because their new VP Nuclear was an ex-Exelon manager. I had worked there for 13 years, left and was invited to interview to come back. I was told I had the job, but the new VP stepped in and cancelled all new hiring. I was not the only one stopped by the decree, either. If Exelon buys the whole company (remember, two Constellation deals have already fallen through because of interference from the State of Maryland) you can expect a lot of cutting and doing more with less. daveyj, your only hope is if everyone quits on the news.

Too bad.
"I won't eat anything that has intelligent life, but I'd gladly eat a network executive or a politician."

                                  -Marty Feldman

"Politics is supposed to be the second-oldest profession. I have come to understand that it bears a very close resemblance to the first."
                                  -Ronald Reagan

I have never made but one prayer to God, a very short one: 'O Lord, make my enemies ridiculous.' And God granted it.

                                  - Voltaire

HousePuke

#9
Apr 28, 2011, 07:44
While I was with Entergy there was quite a bit of effort going into following the Exelon model.  I've also talked with several ex-Exelon employees and their stories are remarkably similar...not good.
Irish diplomacy is the ability to tell a man to go to hell such that he looks forward to making the trip.

Inspite of inflation, a penny is still a fair price for most peoples thoughts.

HydroDave63

#10
Apr 28, 2011, 07:56
Rhymes with "Axe-A-Lot" ?  :D

caerbannog

#11
Apr 28, 2011, 09:52
Quote from: HousePuke on Apr 28, 2011, 12:51
IMHO, not good news for current Constellation Nuclear employees.

Part 26 is going to hamstring the thinning efforts.

RDTroja

#12
Apr 28, 2011, 10:16
Quote from: Sun Dog on Apr 28, 2011, 09:42
No.  You lost a job at Calvert Cliffs because you were not needed.

And you believed them?   [dowave]  

[OT]  You're making a liar out of yourself. With comments like that the only band you are old enough to have seen is the Wiggles.
"I won't eat anything that has intelligent life, but I'd gladly eat a network executive or a politician."

                                  -Marty Feldman

"Politics is supposed to be the second-oldest profession. I have come to understand that it bears a very close resemblance to the first."
                                  -Ronald Reagan

I have never made but one prayer to God, a very short one: 'O Lord, make my enemies ridiculous.' And God granted it.

                                  - Voltaire

OldHP

#13
Apr 28, 2011, 10:22
Perhaps they are veiwing the Duke (mergers) and rumored buyouts and want to stay ahead.  However, you have to keep in mind the state (MD) will have a say in the final outcome.
Humor is a wonderful way to prevent hardening of the attitudes! unknown
The government is like a baby's alimentary canal, with a happy appetite at one end and no responsibility at the other. Regan

RAD-GHOST

#14
Apr 29, 2011, 02:04
I'm thinking this one seems appropriate!

Welcome my son, welcome to the machine.
Where have you been?
It's alright we know where you've been.
You've been in the pipeline, filling in time,
Provided with toys and 'Scouting for Boys'.
You bought a guitar to punish your ma,
And you didn't like school, and you
know you're nobody's fool,
So welcome to the machine.

Welcome my son, welcome to the machine.
What did you dream?
It's alright we told you what to dream.
You dreamed of a big star,
He played a mean guitar,
He always ate in the Steak Bar.
He loved to drive in his Jaguar.
So welcome to the Machine.


Pink Floyd, 1975....RG.... ;)

Smooth Operator

#15
Apr 29, 2011, 12:08
I am pretty much going to assume craft jobs will not be affected, especially OPs. WHRs and tech spec staffing cannot be circumvented.

I am sure there will be some union issues to deal with as applicable.

CincNuke, I think you will be just fine.

I think the biggest affect on nuclear will be implementing the Exelon HU/Administrative way of doing things.

Enjoy!

Frankie Love

#16
Apr 29, 2011, 12:18
QuoteI'm thinking this one seems appropriate!

[OT]

Wasn't that song about something other than your reference?

cincinnatinuke

#17
Apr 29, 2011, 12:42
Quote from: Smooth Operator on Apr 29, 2011, 12:08
I am pretty much going to assume craft jobs will not be affected, especially OPs. WHRs and tech spec staffing cannot be circumvented.

I am sure there will be some union issues to deal with as applicable.

CincNuke, I think you will be just fine.

I think the biggest affect on nuclear will be implementing the Exelon HU/Administrative way of doing things.

Enjoy!


I wasnt too worried about my job specifically, but rather what the poster meant.  We got an email from the CEO(Mayo) that no jobs at Calvert, Ginna, nor NMP would be affected.

It still seems a little murky just how we (Constellation Nuclear) will fit in.  Remember EDF is still half owner of our Nuclear generation assets.  From what I gatherwe are to be a "subsidiary" in that respect but I imagine the fleet model will be ever present.

On another note, it would give you an opportunity to come back at a later date. :)



RAD-GHOST

#18
Apr 29, 2011, 02:41
Frankie,

Considering the fact that it was written twenty five years before Exelon's conception, you would be correct!

Actually the joke I heard this morning was; this is Exelon's response to Dukes Energy's effort to be number one!

50 million to change the marquee, or nine billion to keep it?

They went with option "B"!

RG.... ;)

Fermi2

#19
Apr 29, 2011, 06:45
Czechoslovakia is next!

ski2313

#20
Apr 29, 2011, 07:39
Kewaunee just went on the market.. Couple interested buyers visiting in the next few days (incl Exelon)...

wokrdan

#21
Apr 29, 2011, 11:37
Is this why I can't access the job postings on Constellation.com? This is kinda sh***y because the two places I was interested in applying to were CCNP and Ginna for Ops or an I&C tech position next year. Does anyone know if this merger is going to bring unions in with them, as these two plants are non-union?

daveyj308846

#22
May 02, 2011, 08:42
A friend of mine works at the Coal Plant at Brandon Shores in Md and said that The big Ex wasnt taking his plant

RDTroja

#23
May 02, 2011, 09:17
Quote from: daveyj308846 on May 02, 2011, 08:42
A friend of mine works at the Coal Plant at Brandon Shores in Md and said that The big Ex wasnt taking his plant

Every cloud has its silver lining. Brandon Shores is a big facility. I helped clear the land for it when I was about 19 years old. Maybe Exelon is only interested in Constellation's Nukes..
"I won't eat anything that has intelligent life, but I'd gladly eat a network executive or a politician."

                                  -Marty Feldman

"Politics is supposed to be the second-oldest profession. I have come to understand that it bears a very close resemblance to the first."
                                  -Ronald Reagan

I have never made but one prayer to God, a very short one: 'O Lord, make my enemies ridiculous.' And God granted it.

                                  - Voltaire

TEX-INSP

#24
May 02, 2011, 11:57
Quote from: RAD-GHOST on Apr 29, 2011, 02:41
Frankie,

Considering the fact that it was written twenty five years before Exelon's conception, you would be correct!

Actually the joke I heard this morning was; this is Exelon's response to Dukes Energy's effort to be number one!

50 million to change the marquee, or nine billion to keep it?

They went with option "B"!

RG.... ;)

THE FACTS

NEW EXELON
20 Nuclear Reactors
Total Generation Capacity 34,401 MW
Assests 72.2 Billion
Revenue 32.9 Billion

NEW DUKE
12 Nuclear Reactors
Total Generation Capacity 57,200 MW
Assests 90.6 Billion
Revenue 22.7 Billion

DUKE FOR THE WIN!! AS LARGEST , GOOD TRY EXELON
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