Disasters

Private Equity Firms Make Bad TXU Investment, Get $528 Million Anyway

The Texas-based energy company TXU was, under the Bush administration, supposed to be the cutting edge of a coal resurgence. The 2007 leveraged buyout of TXU is widely regarded to be one of the worst deals in private equity history. But the firms that led it -- KKR, TPG, and Goldman Sachs -- made money with big fees even as the company tumbled toward financial ruin.

Source: New York, 10/23/2012

NRC Hid Meltdown Threats to Nuke Plants from Dam Failures: Watchdogs

"An un-redacted version of a recently released Nuclear Regulatory Commission report highlights the threat that flooding poses to nuclear power plants located near large dams -- and suggests that the NRC has misled the public for years about the severity of the threat, according to engineers and nuclear safety advocates."

Source: Huffington Post, 10/22/2012

Oiled Material From Deepwater Horizon Stirred Up By Hurricane Isaac

"BATON ROUGE -- About 565,000 pounds of oiled material from the Deepwater Horizon spill was brought to the surface by Hurricane Isaac, more than had been collected in eight months before the storm, the state's coastal protection agency said Wednesday. The post-storm figures were announced as members of the state's Coastal Protection and Restoration Authority sharply criticized continuing clean-up efforts by BP and the U.S. Coast Guard and called for more resources to deal with oil that is still below the surface of the gulf, an amount believed to be equal to about 1 million barrels."

Source: Nola.com, 10/19/2012

Pages

Subscribe to RSS - Disasters