Summary:
More than 20 major shareholders have formed a coalition and petitioned Duke Energy's board of directors to answer some serious questions about their handling of February's coal ash spill into North Carolina's Dan River that made international headlines. A major component of the growing distrust between North Carolina citizens/investors and Duke Energy is the fact that NC Governor Pat McCrory worked for Duke Energy for 28 years, and inspectors from North Carolina's Department of Environmental and Natural Resources conveniently overlooked several major violations that lead to the spill. As a result of this bad business, Duke Energy is facing the loss of the millions of dollars it will cost for the company to clean up their mess, not to mention the growing citizen coalitions demanding that Duke move the remaining 33 coal ash ponds to "safer" locations.
Analysis:
Even the shareholders at Duke Energy have enough of a conscience to realize that this is bad business. Though they are undoubtedly worried about losing profits due to their worsening reputation among North Carolina citizens, it still speaks volumes to the fact that the communities in which Duke operates are turning on the company. This type of accident is not just an eyesore, it affects virtually all the animals residing in the river; it affects the people who depend on the river for subsistence fishing or commercial fishing; it affects farmers who use the river as a source of irrigation; and it affects the health and economy of North Carolina in general. There has to be serious punishments for this type of deadly and irresponsible behavior. Pat McCrory and Duke Energy should be run out of North Carolina immediately by citizens with torches.
Link:
http://www.huffingtonpost.com/2014/03/28/duke-shareholders-investigation_n_5048988.html?utm_hp_ref=green
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