ML20154J952
| ML20154J952 | |
| Person / Time | |
|---|---|
| Site: | Seabrook |
| Issue date: | 04/07/1988 |
| From: | Hefley J HOUSE OF REP. |
| To: | NRC OFFICE OF GOVERNMENTAL & PUBLIC AFFAIRS (GPA) |
| Shared Package | |
| ML20154J938 | List: |
| References | |
| NUDOCS 8805270193 | |
| Download: ML20154J952 (12) | |
Text
B soo camo., e - - so
' JOEL HEFLEy
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Svets 1o4 Niasfjington, BC 20515
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April 7, 1988 Nuclear Regulatory Commission Congrecsional Affairs 1717 'I Street NW Washington, D.C.
20555
Dear Congressional Liaison:
Enclosed please find a copy of a letter and attached newspaper articles that I received from a constituent concerned with the Seabrook nuclear power facility.
Please review Mr. Steele's comments and reply to me at my Washington office at your earliest convenience.
Thank you for your attention to this matter.
Sinc rely, Joel y
mber of Congress l
JH/sr Enclosure
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I-s 3 March 1987 Congressman Joel Hefley 2190 Vickers Drive Colorado Springs, CO
Dear Congressman Hefley:
First I apologize to Steve Runyan for being rather rude during our last phone conversation. I really appreciate the fine work he has done in drawing your attention to the Seabrook situation.
Now to inform you of the latest with regard to Seabrook.
On January 29, 1988 Public Services of New Hampshire declared chapter 11 bankruptcy. It was a
direct result of the Supreme I
Court of New Hampshire's decision not to_ overturn _the Anti-
/
Construction While in Progress rule.
In essence the company cannot charge ratepayers for Seabrook until it produces power.
(See Attachment 1)
Of, course Governor Dukakis' response to the news was PS.',H ' s imprudent spending on Seabrook finally caught up to it! (See ) To add insult to injury, his attorney general, Mr Shannon, stated now that the company is bankrupt how could the NRC possibly license a
plant whose majority owner could not properly maintain the facility.
(See Attachment
- 3) And who was really responsible for the company's demise?
Governor Dukakis.
I (See Attachment 4) l l
i By now it should be quite clear to anyone who gives a damn, there is a group of Northeastern democrats, who are conspiring to ensure Seabrook never produces power. At attachments 5 and 6 are
+
'l Congressman "Markey and Senator Kennedy's latest attempts to thwart the Seabrook operation.
4 Did my tax dollar pay for the foolish 300 page study published for the congressman asserting that the Seabrook plant is unsafe because the contruction workers were drinking or on drugs? In that same ve.n, is it my tax dollar which Senator Kennedy wants spent on a National Institute of Health St'idy relative to cancer tsulting from Nuclear Power plant locations?
I protest such frivolous expenditures and wonder why the Congress and the Presient need a blue ribbon panel to figure out why the budget deficit is so large. Spending!
Sir, I have also included a clipping of the Wall Street Journal's stock quotes for the year 1987.
(See Attachment
- 7) Notice the
-. - ef fect -Governor - Dukakis' decision not to sign evacuation plans had on PSNH investors.
6 e
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In recent weeks I have called the NRC to find out when a public hearing would be conducted to render a final decision on.the Seabrook test license. Once again all I
get is "there is no schedule at this t irne. "
When I asked Mr Ingrarn if he could call rne when he had a date, he said, C No, you will have to keep checking with rne each week!" Frankly, Cong ressroan, I arn t ired of spending rny rnoney chasing bureaucrats for answers. Please request the NRC schedule a date for the PSNH hearings.
Finally, I arn at the l i rai t of ray patience with the bureaucracy and the irresponsible politicians who I believe are libel for the darnage wrought on PSNH and nuclear power cornpanies in general.
Perhaps it is t i rne to conduct ray business the American Way, in the courts. Isn' t it sad that reasonable rnen have lost control of the regulatory process. In the Seabrook case "Justice delayed, has been justice denied."
Sincerely, hlY & h O2 y, :a w as 21 -+- 4 sup.es a d
y,_k % - f t'ie af l
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1 DISTRIBUTION:
Docket File NRC & Local PDR ED0 #003651 EDO r/f T. Murley/J. Sniezek F. Miraglia PDI-3 r/f (w/cy of incoming)
S. Yarga B. Boger OGC Y. Stello D. Mossburg, PMAS (ED0 #003651)
B. Clayton D. Brinkmar.
V. Nerses PDI-3 Green Ticket T. Martin F. Gillespie SECY (88-333) l i
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.88 Pages s 25 cent [
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iSeabrook costs take toll 4
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By Charles Stein Glotr Staff P sbile Service Co. of New Hampshire. crushed by the t
f t
weight of its $2 billion investment in the stalled Sea-brook nuclear power plant, yesterday filed for bankrupt.
, ey protection. becoming the first najor electric uttitty 'to l
)
take that step since the Depreselon.
i i
At 4 05 p m. yesterday the company delivered a pett-tion for Chapter il bankruptcy to US Bankruptcy Court in Manchester N 11.
Our crisis has drep-ened.** Robert Itarrison.
7g g[ g3ggpgi,.
Pubhc Service president.
told a news ecnference at
- AT A GIANCE the cornpa ny's headquar-What impact will ters. Harrison aafd that by seeking rehef from its Public Servict's ba,nk-g creditors. the company ruptey have?
would be able to work out CUSTOME R S.
its financtd problems in Service and ratet a t.nore rational fashlon.
should not be aficeted.-
"We will do every-EM PI,9Y EES:
thing possible to ensure' 2000 0( ti.e utility's,.
that nothing changes in.
employees wlit not get.,
{
i the dally lives of custom-a paycheck today. The' t
ers." said Itarrison. Pub-company thinks they, lic Serykt p ovides elee-wtli be paid by next.'
j I
trletty to most of New week. Executives with l
fla mpshire, keep their Jr>bs.
- O i
SEAdROOK Oh l
The utility's bank.
I ruptcy is not likely to The company beQ l
have much immediate lleves it will not huff.-
1 impact. according to la w.
the nuclear plant /A C chance of winning alR I
yers who speelaltre in bankruptcy law. The cense.
-Q lights will stay on. new IMVESTOE8::,.y I
cubomers will be hooked Stockholders ar$
up. rates will not change somt bond holde f a' ;
I and the company's man.
ha ve already lost masc -
agement wiu keep their of their investment 60.
Pubile Service. MobQ Jobs.
's e
8 "If anything this is a analysts may the accu,*-
positive step ' eatd rttles probably won't I James Bennett of R D.
Jose too much moreQ l
Smith, a New York in.
value.
al-vestment firm that owns REQUt.ATOR8f.
Public Service bonds. It Lawyers said the
- i 1
New Itampehtre Pub 1
+
shouki giu the con:paa some breathing room.7' Itc Utilities Commis--
)
i ston, not the bankt-Smith predicted it would '
l f ske at least 18 moathe '
- ruptcy court, will stilP i,
for the company to.
have the power to set
! PSNil. Page 27 electric rates.
emergt from bankruptcy.
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taxes next ye'erhenson aald.' WL bagni Uw comp 3ny deeper
)
2nd deeper Ints debt. As Sia-In Seabrook.' where the Sea-
- t brook Nuclear Power Station t2 lo-r a costs soand - from cn
" cated, former selectman James C.; piginal esumate of $1 blulon for Falconer eski that the bankruptcy "two plants t: $5 billion for e single f
i Plant - Pubhc Service was fcceed filing "portenda some bad things for the town of Seabrook/4M.v.y' t borrow more' money at ever g
higher interest re:es.
Falconet'said local expendi-A Ne* He hire law passed tures could be affected by the fil-In 1979 be the utility from Ing. because PSNH pays taxes (59 billing consumers for Seabrook's
!. times a year to the town. ~ ' '.,, costs until the plant was finished.
j
- Robert Williams, spokesman. Imt #1mmer. Wall Street finab
- ,for New HampshPe Yankee, aald ly said enough. Investors, who PSNH's announcement should not bought 82 billion worth of Pubhc have an impact on Seabrook Sta. { Service accurntles, sometimes at i
tion because "we a.t beyond the interest rates of up to 2C percent /
l
[ major expense here at Seabrook.". Itfused to advana the conipany
' Construction costs have alo any more anoney Like a home-ready been covered.Wlutams said.' :. owner unable to meet mortgage
.and starting operation of the nu. tpayments the utility was then i
clear plant involves only minor forted ta go to its creditors to esk costs. "We feel the Pubhc Service for help.
I Co. and its announcement should For the past several months not have an impact here at the the cornpeny has been negotiating plant. If the trustee appointed or, with its stockholders and bond-Pubhc Service of New Hampshire holders. hoping to work out a plan has control, we feel It's likely they that would avoid bankruptcy. In g will preserve their largest invest. the meantime it mtsmed neverat In-ment." he said.
terest payments to boneniders.
l}
Seabrook is owned by PSNH The rescue efforts =
+ alt a 69
- T.
.I and 11 other utilities. "The major fatal blow Monday when me New Hampshire Supreme Court re-ownere have Indicated that they fused to grant the company a 15 are committed to seetng this pro.
ject through the operauon regard-Pertent emergmey rate hike. The less if PSNH should go into bank. Increase was critical to the com-
- ruptcy," Williams said.
' pany's ballout plan.
New Hampshire Gov. John H.
. Harrison said yesterday that if Sununu said. "While it's unfortu. the company did not file for bank-nate that PSNH has entered into ruptcy voluntartly, one of its credi-bankruptcy, as I underMand it.
lors would have forced the utility the company chone this route to to take the step.
avoid involuntary bankruptcy, investors have been the big los-which would have put control of ers at Pubhe Servke. The com-PSNH into the hands of Individ-pany's common stock, which
.uals outskie New Hampshire."
traded at about $20 per share in 1
In a prepared statement. Sun. the early 1980s, clomed yesterday unu said. l regret that the attua. at 2% The bankruptcy announce-tion has ceeurred, but as I under. ment came after the market was stand it. there are a host of alter. closed nor the day. A-8425 milhon natives, which can be explored to junk bond package issued in 1984 protect both the rate payers of
' New Hampshire and the state en-N ergy supply " '
The state's attorney y-*al's
- E offlee is watching the ba.epey
~
groet41r is closely. The smng rec tly as not totally unexpected
.._s and of cwise (Monda.v's) Suprenw Court deColon (denytng the com-pany a 15 percent emergency rate w
, hike) made it more Itbely that it P
would happen." said deffrey How-ard, ateociate attorney general in charge of the division of legal counsel.
"We wouk; anticipate that we would sc h to intervene into the j esse to:try to assert those post-tions that would assure the role of
! f the state's Pubbe Utility Commis-slon in rate atittn?,. and take oth-er posttions as need te to ensure that New Hampshire consumers i
continue to pay the bw rs'es that they now enjoy." he mand.
"The important thing about to-day's news is this: Now they can fcrus on monaging a utility In-8 stead of doing what they did so poorly L that is dealing with high t
finance, on the cuff / said Paul f8 McEachern, a longtimMSeabrook 8p opponent, ti d.
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JnrN.H.M.jSeabrook takes t'oH, filing-
'bankruotino utility
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Cdntinued from Page 1 2
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' The decision to file for bank-
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%.W,. ruptcy will be felt today by 2.000 o
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By Steve Bennett' d g'N,. - of the utility's employees who will
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. K and t.aurie J. Storey _v -[l...z.
( checks. New Hampshire towns not receive their regular pay-4..
q
-ti that rely heavily on Pubhe Scrykt b
3 Special to the Globe,
.. '.. for property taxes. including Sea-C..
MANCHESTER. N.H. - total h ~
t brook and Dow. could also feel the
]
j c4Tietala expressed no surprise last g
night at Pubhc Servke of New ' pinch, according to lawyers M
r E..
4 t.
For the time being, the bank-I ' * ' '
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,i Hampshire's bankruptcy ft!!ng/ ruptcy probably will not have any I,,.a j %.,.w. A I
'and some even expressed optl 'significant effect on the Seabrook W
mistn about the utluty company's nuclear plant. Public Service,
!ht
..'i
] future." f which owns 35 pertent of Sea-
- f. d,.
'f. i l t
. Yet there was concern arnong brook has pledged to keep up tts lo I
, munletpal officials over the filing $4 milhon monthly payments to -
of Chapter 11 bankr9ptcy action.- the plant, which is finished but.
because the cornpany pays such a still has no beense to operate. The ROBERT HARRISON 1
large share of the real estate taz other New England utthtles that
- Our crisis has deepened" billin some communttless own shares af Seabrook yesterday Pubbe Service of New Hamp-said they expected Pubuc Servkt shire paid $24 million in real est to honor its commitment to the ' closad yesterday at 26%. down tate tases to some 200 hew Hamp ' "plant.
from 100 when it was first sold.
shire eftles and towns last year.
"Idon't think thu will be a fac-
"I don't think this is good news for in the plant's bcensing." eald by the 1 a k for cities and towrts, treause ft ' Jol.n Ekhorn, chairman of East-Fice. Dut in more rettnt years the makes the whole quesuon of cost-ern UtlHtles Associates, a Maas-P*"
nk d
e' effective poner to communities achusetts uttuty with a major in 4 rnost exclustrely by institutional very uncertain." said Rochester vestment in Seabrook.
Mayor Rkhard P. Green, prest-That view is certain to be chat- ' mm)estors. Including rnost of the Inv dent of the New Hampshire Mu,
lenged by Seabroolle critks. in-2r mutual fund companies in
' plcipal Association. '
Doston ciuding Massachusetts AHorney Green aald that in Chapter !I CenerelJarnes Shannon. 'I would b Who W fa in reorganizations, the first btils that think the Nuclear Regulatory bankruptcy court is an open ques-must be paid under state law are O.mmission would think twice be-
!!on. Those holding secured
{ered that if there is a long delay fore they would Ikense a plant.
gg roperty taxes. But he said he whose main owner was going. will almost certaInly get all their in the reorganization. "then alt through bankruptcy." aald Shan-
[. e ording to Wall Street debts. Including taxes, will be. nun.
. Investors holding unse-withheld utdll the debts of the Oppostuon to Seabrook by Oov. cured bonds or stock couki come company are deterentrv i."
Dukakis has prevented the plant a wsI with i'#I little' "I feel if they were guing to file from ynbg. Nkakis beheves, for bankruptcy, this is probably that in the event 4 an entdent.
- g-the trst tir..e iney could file, be.. the New Hampshire and Mass-
{p
' cause theyjust paid their taxn.a achuwtts beaches near the plant i
sald Sara 11. Svenson, chairwo. could not te safety nowatn!
R j
f r0'"
b yeo. the campaign tra.! fn man of the board of selectmen in b-Dow. where PSNH's coalpered erday Dukake ce P r+-w announcement inevitable.,lled the generating plant te located. PSNil A dec-uq pad 02S million in taxes to Bow ade of imprudent invest ment deet-
{g stons has final last year, half of the town's 65.2. Public Serykt.,1y caught up with milhon tax revenue.
he said.
"It will give them a chance to Conced to W early N as reorganize. and possibly there Public Servke a great hope for the g, '
won't be any delay in receiving that dragged the company deeper l'
future.Seabrook teame s burden l
taxes next year, Swenson aski.
in Seabrook. where tne Sca* and deeper into deb.. As Sea-1 brook Nuclear Power Stabon is I - brook's costs soared - from an
)
r*
j ctted, former seleciman James C.
ertgtnat estimate of $1 bilhon for Fskoner acid that the bankruptcy two planta to $5 billion for a singie
) flHng
- portends some bed things plant - Pubhe Servke was forced for the town of Seabrook." '
to borrow more money at ever higher interest rates.
- ' *mdi-A New Hampshire l.a.w...pasw;t.
frorn
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10t'RNAL 81DAL JANUARY 29,1988. e
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PS Ke#Hampshaire Fi, es"BanxruptcyiP< ea
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fri
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'n "$m ah"5 =d" chas" u. -
' M,$e, Tied to S.,ea.b, rook, is-Public Service Co, uneenunues an aratng became the fun
' h,Among Biggest iriU.S.:
Of New Ilampshire9%'
ti a uunty.
r7 r
court's noie on nates
?iPlant's Future' Clouded EmAnn i
12 For one Geg Ks udlear to what es-N l h h *..
Reeldential eustomers 816.674 tent the bankr ptcytourt judge wHi be me' i} ' i *!.@By La'dmcs INGMsalA - h Industrial customers
'970 ;,
e' abk to set rates. Cnditon and stockhold-
+
ers are boping that the )Udge can increase n
e J. *d 1
- And CHalstorHEs J. CHirTito Commerelal, wholetale rates, which would ralSe the va)Ut of the ul8 w'
Ja-w usm' e Jovum and other customers 44.712
company's assets. And htr. Harrison aaM saa/f na mms e/Tus r
' f Pebuc Service Co. of New Hampshire' that a rate increase will "surely" have to Ju<
of any anNuon to the company's
{
ant n e
1 81 8522.4 million Seabrook nue su
. for praeedon from creditors under Oa?
Net income 12 months But consumer g70ups and the state are
..ter 11 of the lederal Bankruptcy Coh. '
ended Sept 80,1981 8144 4 million inety to eppose any increases impsed by the bankruptcy court. Mark W. Vaughn, an m wid$ expected Mng makes Man-etal assets 8295 bulion chester-based PS of New Hamphire the outside counsel for the state, said, we P'
i Ia'
' - Drst major utility to file for bankruptcy-Totalliabnities 81.70 bmion wtII fight tooth ard nait to uphold the regu-N law prdection in nearty 50 years, and is tatory process of the state.The tstate) stut d
one of the largest bankru%cylaw RDngs of mum of three years. "We are in uncharted hat juttsdicuon."
any ktJ to the U.S.
waters," he added.
Another prot 4em with raising rates is The proceedings cottid inenase me"*
pasb6es Harrisomstso sam. that-bringtag that PS of New Hamgehlre's electrietty C l
tainty cret tlw start-up of Seabrook, the Seabrook into operation remains a prior rates already are arams the higtest in the
~
leg 4elayed 55 N1!1on plant in which PS of sty,but the filing was greeted with eladon
} country. If rates to too high, commercial New Hampshin owns a 35.6% stake, by Seabrook's opponents. Massachusetts
.! customers could seek alternative sources, Though completed, the Seabrook plant Goe, hilchael Dukanis, a presMential Nie-
- 'such as generating their own powet A suty hasnt started operauons because of con" fu!. sa)d, "A decade of imprudent inveo /
stanualloss d custorners couM worsee the troversy over evacuation planning, and op-ment decMons has finally caught up with J company's cond)Uon.
gwents plan to argue that the plant WW}e Service. Ut) now has an opports-t
[fef[
shouldn't be beensed because of PS of New.
nny to set responsibly and Invesugate '
E ut M
ways to, enerate power uCg non oude own a stake in the long4elayed plant. in-Hamphi s troubt l
g file for bankruptcy <ourt protectke; with h ' bankruptcy law petitiodTas fWed g,
hefty interest payments on 51.5 bullon in at 4 p.m. EST, and the news wu an-thstan based Eastera l't1 Dues Assectates.
debt, it is running out of cash. It already nounced ther the stock market eksed The
- O has missed interest payments and de-pdce of the cornpany a common stock, PS of New Hampshire's bankruptcy las faulted on more than 5800 multon in unse-long depressed, closed unchantad at g1625. flitre tsa t enrected to have an immediate curee debt-a share in comp; site trading on the New or direct effect on the Lt.cr Seabrwk PS of New Hampshire had hoped te get York St rk Exchange. Its bellwether e*fS. but N co.d ban an inh Mect a 15% emergency rate increase to shore up 17%% debentures, due 2004, closed yester-at sorne potnt.
its nnantes. But the New Hampshire so-day at g25.25 per $100 prtnetpal amount, The tronthly cost of keeping Seabrook geme Court earlier this weet upheld a down 51.
ready to run is about lit milbon, for exam-state law prohibiting the utility from get-p,,3.uaj gI pie, and PS of New Hampshire's share of
' ting increases for Seabrook-related costs With assets of g2.95 bl! Don exceeding l' that is atxmt $3.5 mitinna. The utilityT Mr.
~
.until the plant begins producing power.
abultks of $1Mlon. Se badn%cylaw Hantson sa)d the compar; intends to ete-
. PS of New Hampshire's president and g by W utinty is unsual W com-unue paying its shan of Seabrtrk's chief executiveofDcer RobertJ.Harrisce,, p>any hss1 han mud W to Pcc,t,,
sa)d the "Ditng a111 belp Insure the stabu ice its debt because J the timit on its W Mru%ey court hewever, has n-I lty of the company and its opera.u,ons shue.
rates. Moreover, its assets are calculated sal say over what engenditures are and u entad solution is pursued st book ealue, and their market etlue is, arent made. If the court orders PS of New fayCMCb MyM -
probably much lower, bacause searly 79%
Ham;sMre to stop paying its share of Sea-Under Chaper it, the company will of the assets are t)ed up in Seabrook.
brook costs, the other uttunes would have continue its c5eranens while seeking a D-The compa,y is never enreeted to be
.to decide whether to pick up the added nancial reorganizauon. Electric service to allowed by state regulators to charge rates wMch Wy ban sud they don't customers, for example, sbculdn't be af-high enough to earn a normal rate of M-sant to, i
lected. However, Mr. Harrisce said some turn on its entire Seatwook investment.
Other Seabrook owners argue that it's i
j-
.1.000 employees scheduled to get pay-More broadly, the tuttty's fuln3 sat unnkely that a judge would make such an t
' checks today wont receive them, though engected ;o have any major effect on uull-wder. '"Everytxxty wouH nnd it strarge the company hopes workers will be paM ties naucewide, tress *ry engerts sam. EW-for a judge to do that, tecause 79% of FPS next week.
cause the company's pmblems ne so of New Ham; shire's) assets are sitting tn Because interest payments on debt usu-closely related to Seabnre. "I don 1 ea' that unit." said DmaM Pardus, president
' alty are suspended dursg bankru%cylaw pect (the filing) to have reverberauons t>
d Easten Mues.
proceedters, PS of New Hampshire viu yond tPS of New Hampshire) and ouer Stu! there are ramtheations. For exam-Settet joint owners," said Peter Brad-Flhse Tars 10 Pope fl. Colme t
. save seu oyer $100 mulloe a year in later*'
I Pflfited g
'*d'ce Cornrnisske. "'" M< ' -
ca""" d
- ARDS
' Without Seabrook and the related deM.
=
Servi The stock of other utiliues with
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PS of New Ham shire's as:ets constitute lems related to nuclear plan;.s cuund dreis y
as attractive uunty, because of the state's tempradly, but shouM recover, stM Paul
/
pnspeMty. An electric uunty of some Mnd will emerge from reorganizauce proceed-Par Mey, an aneJyst at Dm IMla i
Ings, but its share-and bow img it will
& Jenrette..
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' talg to ernerge-ts unclear, However, the nnng ts like te be
.i
. Mr. Harrtsrei esumate1 that hammer.
cesety fonowed because, as the nrst by a abaWp Was. M M gsrr%.
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ig,g og a r,ogy 3tramag
.fa) a nna-precedent ser art such futuse
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, %1 tile la some wayt the flung vtaldif-
['MM $ to atne months and > ma.ti-
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- p s-st,eq 'FDA Urges'NutzaSt t Co. to Submit 4l New FatSub.stitut o.r Retiewby Agency
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' agency) act requiring FVA spproraf* In T f such cases. said hierrul T%m
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nw.f ein we ensw' #***"a Me.
' MtnN Rs fiew fat subsutvle turned p tr W WW % was WW W a m hMweet Cn/s wideh trWM58ted y slet. He sam problems rnay have detti-I ]D d
IN All Dtl' A' that teded **6ersasad ~ the
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as the U.S Fond and Drug Admbd,strah st m w e
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stwgh urged W mMany 2 n,,,n uie a my." Added The@rf 12bura. a pro MTNNH i
,,,,wed'* N prodwet for rees. a denW nat gg lesent of food amenee at the Univentry of a
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I I ' eMwft certals to 6 play tta N-
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Safety,. solvency at Seabidok
','This bankruptcy ctrengthens the argumenta
, tve are going to inake'
'. i-MASS. ATTORNEY GENERAL JAMES SitANNON By Larry Tye argumenta we are going to make" to G)obe Staff keep Seabrook shut, said Massachusetts
' Public Service Co. of New Hamp. Attorney General James Shannon.
shire's bankruptcy already has rede. "This certainly distinguishes Seabrcok fined the debate over the Seabrook nu. efrom ever clear plant, with critics inetsting the.'tever built.g other nuclear power plant, plant cannot be run safely tf its major ' ' But Public ServW officials said open-owner cpnot pay its bths. '
l$g Seabrook would automaticany makg "This bankruptcy strengthens the ABROOK. Page 23 i
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$'afety and s,olvency aire Seabro'ok issues
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Wl.EABROOK Court affirmed the law last week, hcense - passibly for months - be-Co tinued from Page 1 Public Service eJecutIves said cause of the bankruptcy,the Asso-D they had no choice but to declare ciated Press reported.
t 'dtiuty solvent'by lettin it bankruptcy.
But Public Service Co. Prest-charge e tomers for most Ita Now "It) going to look mighty dent W1 Diam Harrison aald a fed-42.1 bilhon investment in the re-strange if the NRC does not at eral bankruptcy judge probably actor. "They force us into bank-least order an inquiry" into arill free the utility from enough of ruptcy because of delays, then ar whether Seacrook's ownes on its debts to ensure that it can sus-a hcense shouldn't be taeued afford to run a safe plant, sand tain its biggest asset: a 36 percent
. use of the bankruptcy." said Robert Backus, an attorney for ' share of Scabrook. Pubhc Service utility spokesman Nicholas plant opponenta. An NRC hcens-now spends about $3.5 m!! bon a Ashooh.
Ing panellast year said such a re-month to maintain the reactor.
j view is not needed, and the issue which is complet!d and has the i
"It's like a child murdering his to now before an NRC bcensing first of three brenses it needs to j
parents and then asking for mer-
' because he's an orphan.** aPPe81s board.
produce power.
cy&oh added.
Public Citizen, a consumer Harrison Mknowledged at a As group founded by Ralph Nader. news confenae Thursday that The Nuclear Regulatory Com-maid yesterday it will petition the Pubhc Service some day may be mission ultimately wtU decide who NRC to regularly ieview the finan-forced to sellits share c4 Seabrcok.
ts right. and the keer almost cer-etal quantications of all nuclear But even then. NRC and utility of-talniy will challenge th&t dectston utilities before and after plants ficials said, anyone who could in federal court.
are licensed.
spend bOhons of douart to buy Peter Bradford, a former NRC Public Serv 6ce's share certainly Yet even now. Just two days commissioner, said such a change could afford to pay the much after Pubhc Service announced it is long overdue in tight of the smaller operating bills-is broke, the bankruptcy has worsening financial shape of -
The main issue holding up h-pinedthe controversy over evacu" many uttuties nationwide. When cenalng of Seabrook has been lack ation planning as the two major the NRC stopped mnducting fl-d an approved evacuation plan.
lasues that wiu determine the fate nancial reviews It "didn't take Gov. Dukakis and others say of the $5.2 bubon ructor.
Into account that some uttittles' pisns proposed by Seabrook are The NRC traditionally required imprudent pract6ces would result unworkable; the NRC is reviewing utiuties to prove they had enough in disallowances bf rate in-the state of New Hamphire's mone/ to bu!L1 and run a safe re. cresses) so large tMt the ut!1itles plans and win review plans plant actor.jn 1982. however... stopped would be under severe con-owners drafted for six communi-makthg for such proof on tha the 'straints" ties in Massachusetts that are cry that state regulators would en.
'"The NRC really has had no within the 10-mile evacuation sure that utilities had high basis for finding Pubhc Service In-none.
rates to run shhly, nancially qualtfled for several Supporters and opponents In Pubbe Service's case. a New, years now." added Bradford. who agreed however, that finan is now serves as chairman of New sues twy are likely to assume Harapshire law prevented that York's Public Service Comials-equal importance While Public state's Pubhc tJtthtles Commis-anon.
Service's problems are most pro-stortfrom letting the utiltty retae And Sen. Gordon Humphrey nounced, ar ersi othere among Ita rates to pay off Ita Seabrook (R-N.HJ yesterday asked the NRC the 12 utilitiek that own Seabrook debl.,When the state Supreme to hold up Seabrook's low-power could te in trouble econ.
- *. e.a.gm. e.g O'sieuw** * * *W#W*
~Dslialds bnE@iis6i&QlRi[Schice IshlEul ty e i
'[Your coverage of the bankruptcy filing byh k' secure'aupply of electricity b rit:
~
1 to the file Service Company of N.H. missed the most isnt pconomy of New England. Its eight nuclear plante parent point: Inns b a uttHty brought to Ita knees avoid the burning of more than 50 mitilon barrels,,
by the ubitrary.actiori of a governor of anotp2 of oil every year and supply New England with f
er tate MicpaelDukakis ofMassachusetts t
one third of Ita electricity. Nuclear planta have' 4
'20 months. it has not received a 11 fP lt'Is distressing that an elected ofDelal - one
~
m praat has been been operattnp safely there stact 1960.
cornplet t
' cense largely'because Dukakis has' refused to al.- whois presenting himself as a presidential cands-low Massachusetta to take part in the emerge 4 date - would not only drtve a company into Chap,,
ter i t, but more important.take such a dangerous, i planning required by federal regulatora.'.%,.
' f If Dukakte had cooperated, the plant would be, attitude toward our need for ergergy and economic '
operating todayilt,woukt be reducing out oil im-/ securHy. ' W
(
e ports by 10 milltori barrels a yeart the cost of the Washington' '? p j,, y q, c,,hDIXY[EE RAY k.y c*
' plant would be millions of dollars less: and PubilM Dr) Dtry Lee Ray uns governor of Eashtng., {
Service of New flampshire would be solvent,if noty ton ar"f chatrman,of the Atornic Energy Com, i 6., J U. M,k. Peg 4,; h,,,
',,dtrN b b f N 'I R Prceperous, h (g, s-misalong
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Y ' 28NtE BC Ob)Bfl 'rVrSDAh FEBRUARY 16.19A8 o
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ua THE Boston clone FRfDAY. JANUARY 29.19M 27 T.
Markey challenges candidates a
Asks impefuli to demaml if safety was sacrificed at Sealmok By Ray Richard O
brook construcHon workers, was ed Markey's report, saying it is and Larry Tye covered up by plant owners and based on "unsubstantiated allega-
. T, Globe Staff was ignored by the Nuclear Regu-tions by some 35 workers out of Rep. FAward Markey (D Mass ) latory Commission.
the 35.000 people who have Q w
at Sea yesterday asked Democratic and McKinnon offered graphic 11-past 12 years.,y stauon in tM g
Republican presidential candi-lustration of the alleged troubles While he acknowl-
. yesterday: In one case, a schedule edged some drug and alcohol /P
- dates tojoin him in demandtng an (invesegation into whether alleged of his supposedly secret inspec, abuse had been detected. Brow
/ dr.g and alcohol abu.se among, tions was posted on a plant bulle-p g
construction workers compro / tin board. And when he and his system would have caught any de-.g
' mised sa'ety at the Seabrook nu-f drug-sniffing dog named Zig Zag lects that might have resulted.
cacar plant.
,i were scouring the plant, workers Every btt of wnrk is checked.'* U broadcast their comings and go-e m
and techM again. :W The appeal came at a Doston iings over loudspeakers in time to he said, because people make eg press conference Markey held Y alert anyone who wan drinking or with a forrner Seabrook security '.using drugs.
mWa Brown sad Seam
, ofDetal, who recounted his tales of -
ts ready to begin operauons once,. p;
- plant managers' allegert lack of I.
McKinnon. who resigned in It receives NRC approval of its 'U concern about drug and alcohol j Protest last year after five yests at evacuatpn plans. which has been d ['
violations. The problems were so ? the plant. charged that Brnwn held up by opposttlon from Gov. *;ll bad, said Peter McKinnon. "that ti ; and other Seabrook o[Detals with-Dukakis who calls the plans ure g it go.es online F,m going to Flor held from Markey for six months workable.
g,'.
6 word that $10.000 worth of co-
- M' i
. catne had been seized at the plant.
Markey insisted the only way But Edward Brown, president to ensure Seabrook is safe is to a p.
d 8
of New Hampshire Yankee whose CK
"[I g potnt a n independent, blue-ribbon {*
a company runs Seabrook. yester..NRC inspectors, but never heard panel to review plant records and day held a press conference of his back from them.
- check plant work. The NRC could . 'l f
own to deny that drug or alcohol not be trusted for the task, he ex ' ; ;
problemsjeopardized safety at the 5 -Brown offered a different ver. plained. because it had proven re-
, $5.2 billion reactor. Allegations in ; alon of events, saying McKinnon pestedly that it is a "lapdog not a.
,s a 300page report by Markey are '4"wasin charge of a drugdetection watchdog."
C,.' t "nothing new." Brown aald, and,' dog" and was let go from See Aware that New flampshire. - -
he accused the congressman of at. brock because he wanted to work tempting "to win now in the press i as a free-lancer tnyond the control Presidentletepr'maries are lesss., L.
' the anti-Seabrook argument he of plant executives. As for McKin. than two steks away. Markey.
' lost'last summer on the floor of. non's charges that plant officials called on Republican and Congress."
were tax. Brown said. **Mr. McKin. cratic candidates to use his re-
- l port as a catalyst to force he NRC
,g The exchange was generated ^ non is sadly mistaken" and had to app Int a blue-rtbbon-1 "praised Se a broo k's drug m candidates clatm to t @ en
,; y
, by Markey*a report, prepared over program" at a hearing in Wash-the lest 15 months which ington in December 1986.
o(acuon and oubstance.
q
. c' U charged that drug and alcohol oric, he added. here I h
abuse was rampant among Sea-. ) The Seabrook boss also disput-chance to prove it."
0 1
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LargeRetailChains_
. _AbL 6 s
4 ReportJanuarySales
' U.S. studies cancerDeaths t
n
'(( y..
- ad A'tlanta e Onlu Slichtlv ~
o Near Nucic2w Reactors l
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2rns it may ContinuedFrom Page J a
scale evaluation of cancer deaths occur dLimg and in store operations helpedjumped 25%. Improve ttion. Bell-e-
, ring among persons living near the over-l t object to States," said the agency's director 100 re j/
' T&T, d
Ames said. In composite trading on th
'New York Stock Exchange yesterday '
GSA's mo.
James Wyngaarden, in a lett.
jl e
Ames shares closed at 314.375, up 31375Same store sale Sen. Edward Kennedy (D., Mass ) er to a. g *:j yesterday
{
' gnificance i
the study was prompted by "desenpti based May Department Stores Co
.,said k an AT&"r j
Pilgnm nuclear ' power plant in Plystudie
+
at New York based Mercantile Stores Co ve len
., 4.1%
-}
Car!
count Department Stores, a division ofand 13% at Boston bas eshonsthle l
mouth, Mass., and around severa! power-
,3 before the plants in J)e United Kingdom.
Stop & Shop Cos. Bradlees said severe wi i to reduce
'l cancer, Dr. Wyngaarden said, "but theit
]
ter storms affected its January 1956 tten to the n-Chicago-based Mont
- sales, "was stat.
yblological effects of quite low levels are i
umt of Mobil Corp.gomery Ward & Co., a said' ra sub (jture. ject of current scientific conjec-open at least a year,were about even withsaid sales of stores last year.
f an against ter, praised NIH for investigating "thSen. K f,
j Ohio based IJmited Inc. and 0 5% at ISame-store sa ncies that
=
1 olden for t
f.3
/g cet and radiktion from nuclear powerstron Angeles based Carter Hawley Hale Stor
.ot in the e ( -
i As Inc.
astomer "
plants."
es ued the weak trend that starteWomen's specialty apparel sales contin she added
!Health and Human Services,1 NIH is part
-'4; rned f.ev-
- y s pncmg ago, said Stacy Ruchlamer, dsix months.
analyst at Shearson IBJnan Hutton Inc ked.
a secunties ent of Leo Shapiro, merchandise in specialty apparel invento-And she said January execuggygNe?ut Harold E. Sej!s, chairplan aod chief m
worth Co., was m$' Tor 68 F.W. Wool-nes." She expects apparel sales to con-tmue the same sluggd) pace until the E company's s ore optimistic, noting the
'rnmental and Januarytrong results from December ter shopping season begms in March ith. But a as-will go down," he said. citing higher em"We see i that Ms.
Burnham Lambert Inc., said he expectsJeffrey Edelman, an analy (r. Sonfs ployment and an absence ofinflation "All-o
- I d was too the basic conditions are strong for 1988 retail sales to continue to "soften for the s2..m mot ww next severaj months with improvement ex-I pected by midyear."
120 Shapiro Associates, a Chicago con
"... :uu t% *m 7
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!!Ej l dj consumer su,rvey of 450 households showedsulting firm saJd its o
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!O 3C i
a strengthem STEEL gj jg
- ty f
purchases. "ng reluctance to make major tem coro Wh22e nothin wage in-C 4 m included happened in the economy,g bad yet has um+Tj"_8.,,; lQ jg ly 1-s.xu
+ in i
xpects to to see a great deal of cautionwe're starting Z"g_o tsmo~,- $. @wo o o
rt. A pre-est proportion of consumers.. the high-g,o,gn_-y gj
+y
+ no I
wdl hold back on making ma]or pur-seen in a year and a half are s that we ve
!N rase had aram
,g**',u s g
- 2. m chases," said George Rosenbaum, presi-um ggs y
. wo ue: e enws um trem a oeon sa,y gow Z.d*,"',,C m,n M M@7 8 * *"m sar. -
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JEAR END REVIEW OF MARKETS AND FINANCE 4
A N.Y. STOCK EXCHANGE COMPOSITE TRANSACTION
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