ML20062K382

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Requests Startup Due to Hardship on Stockholders
ML20062K382
Person / Time
Site: Crane Constellation icon.png
Issue date: 12/14/1980
From: Schwartz H
AFFILIATION NOT ASSIGNED
To: Ahearne J
NRC COMMISSION (OCM)
Shared Package
ML20062K380 List:
References
NUDOCS 8012170613
Download: ML20062K382 (2)


Text

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Ecnry and Dorothy Schwart:

DOCKETNUMBG [$ d 1062 Oakridge ?.

h PROD. & UTIL FAC.... <.v'"

Deerfield Beach Florida 33441

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e Dec.

14, 1980

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Nuclear Regulatory Commission

'57 9,:,,7,"I5 i~.3 Washington D.C.

20555 C

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Att. John ?. Ahern; Chairperson Gentlemen; N

As a shareholder in General Public Utilities, I feel kur Commission, and your members, have little or no concern for us.

An article in the Wall Street Journal, written by John R. Emsh=

willer, well illustrates this.

At the time of the acciden't at Three Mile Island,your man, in charge os safety and safe operation for Nuclear Plants, your Mr.

Harold Denton, was just as responsible for the accident as anyone of the plant operators,and-since he was under your supervision-this makes you equally responsible. Yet Mr. Denton was recently named a "distinguised executive" and was the recepient of a 310,000.00 reward, and received a pat on the back by "back to Plains Ga. boy" Jimmy Carter.

I wrote your commission aletter on November 13, 1979. At that time TM1-1 had made all the changes, alter:'ations to comply with your safety. standards, and they expected permission to start the plant.

As you well know, even though 13 months have passed, the plant has not been started, GPU has stopped construction on a plant in process of being built, and you are still holding hearings-in between awards-with the nearby populace.

Imight say the unbiased populace.

This makes as much sense as the Supreme Court Judges holding hearings with the inmates of Death Row as to whether or not they are in favor of Capital Punishment. They would hear a different version if they held hearings with the victims's relative. You too would hear a different version if your committee held hearings with the people who invested their money in GPU=not to get rich-to3have a retire =

ment income because most of us shareholders are retired. That's an idea; Why don't you try it?. Or do you have some more 319,000.00 checks to pass out?.

l I'll tell you this. You as head of the Nuclear Regulatory Commission have a duty to perform. If TM1-1 has been modified to meet the conditions laid down by your commission, then it is your duty to allow the startup and return to operation on this plan,.You leave the hearings, as to the mood of the people, to the Stam and local authorities. These are not your concern. If you are just stalling for time = afraid to make a decision-then you are not doing your job.-

You are inefficient-as evidenced by Three Mile Island-and as an investor in utilities I have no faith in your commission, and -judging by the number of plants that are not being completed-niether are a lot of other investors ifo /et /76 6 / 23

Etnry abd Dorothy Schwarts

-20 It has been 21 months since the shutdown of TM1-1. The shareholders of GPU have taken a terrible beating as a reward for investing in this company in order that the populace of that part of Penn. might have low cost electricity.

You and your commission pass out rewa-ds to people who tae.e no risk, while we, the investors, pay the bills.

Think this over; At the time of the accident the market price of GPU was over One Billion Dollars.

Today it is worth $260 Million.

Thanks a lot

/ f N.

w

> ' & p'M ' '. L'i,..

'N Henry H. Schwart::

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