ElectriCities will not refinance power plant debt
July 7, 2009
The way ElectriCities went about working the debt ratio and the options they used to project refinancing of the debt was a no win situation. The only way to ever get out from under this debt is to approach our Congressional leaders and get a very low interest loan from Washington.
From AIG to GM, ERON to WorldCom, the Government has handed out cash for the asking. We don’t propose a bailout or a handout. We are simply asking for all parties to seriously look at the the feasibility of flexible Government intervention in an effort to support the citizens of eastern North Carolina.
So far, the only Congressman that will even listen to us is G. K Butterfield. He hasn’t acted on anything, and was supportive of the Cap & Trade Bill. But, at least he’ll pick up the phone and listen to our concerns.