Electric utility managers run in herds so to speak. Decades ago they decided to build nuclear-generating stations and almost every utility company that could did it. Financial meltdown followed— caused by runaway cost escalations made even worse by rampant inflation. (Most of the plants eventually operated but the builders’ finances tanked and both equity and fixed income investors suffered.
) Then the “herd” decided to diversify into varied industries: real estate, mining, paper, lending, and one company even processed spent…U.S. Utilities Embark On Huge Spending Spree, But There’s A Catch
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