Skip to main content

Giving credit to the Antis

It was a cold day in February, 2005, during the NRC public meeting for North Anna's Early Site Permit.

One antinuclear sage in attendance had the proverbial "good news" and "bad news" for the shareholders of Dominion. The good news was that the Dominion would never build a new nuclear power plant at North Anna, the bad news was that it was going to cost the shareholders a lot of money in the process. Another antinuclear prognosticator added,

"Dominion does not even know the reactor design it wants to build. Why? Because the minute they mention that they have a reactor design, Wall Street will think it's an intent to construct, and they will short your stock."

And, as if these antis were descended from old Nostradamus himself, a strange thing happened today, November 20, 2007. Just take a gander at this headline:

Dominion Hails Approval of Early Site Permit for North Anna Power Station

And sure enough, as I write this, Dominion shares (NYSE: D) are trading at about $46 dollars per share, when yesterday they were trading in the low $90s.

Coincidence?

Thankfully, Dominion gave everyone two shares for every one they had before to offset this change in stock price. Who would have known these two events would happen on the same day? Was this a strange coincidence or are we witnessing a miracle?

Thanks to Delbert Horn for pointing out this sagely wisdom of antis. He also adds the following information:

Dominion Stock price on 2/17/05: $72.01
(date of predictions made at NRC public meeting)

Stock Price on 10/17/07: $89.19
(Announcement date of GE large parts order)

Stock price on 11/19/07: $91.03

Stock price on 11/20/07: $46.03
(Day of stock split and ESP approval)

Comments

Ruth Sponsler said…
Fissioning stocks! Wish I'd had my Bets On visions of fissioning Dom Pwr stock!
Anonymous said…
Dominion announced their reactor design at the point of large GE part order.

Not much change in stock price occurred. I.e.; the Anti's were wrong...

Stock split and the stock value was cut almost in half. Is anyone surprised by that?

The fact that the NRC announced the ESP on the same day as the stock split was coincidence.
bryfry said…
My own take on this is published here.

Please feel free to stop by and comment.

Thanks Mike.
Michael Stuart said…
bryfry, thanks for the support!

I tried to comment, but it looks like the discussion was closed.

And, I had some exciting news to share with ya. Don't be surprised if you see some interesting Dominion news on Wednesday, November 28...
Michael Stuart said…
Anonymous,

À certains, le sarcasme est plutôt comme une langue étrangère.

Popular posts from this blog

A Design Team Pictures the Future of Nuclear Energy

For more than 100 years, the shape and location of human settlements has been defined in large part by energy and water. Cities grew up near natural resources like hydropower, and near water for agricultural, industrial and household use.

So what would the world look like with a new generation of small nuclear reactors that could provide abundant, clean energy for electricity, water pumping and desalination and industrial processes?

Hard to say with precision, but Third Way, the non-partisan think tank, asked the design team at the Washington, D.C. office of Gensler & Associates, an architecture and interior design firm that specializes in sustainable projects like a complex that houses the NFL’s Dallas Cowboys. The talented designers saw a blooming desert and a cozy arctic village, an old urban mill re-purposed as an energy producer, a data center that integrates solar panels on its sprawling flat roofs, a naval base and a humming transit hub.

In the converted mill, high temperat…

New Home for Our Blog: Join Us on NEI.org

On February 27, NEI launched the new NEI.org. We overhauled the public site, framing all of our content around the National Nuclear Energy Strategy.

So, what's changed?

Our top priority was to put you, the user, first. Now you can quickly get the information you need. You'll enjoy visiting the site with its intuitive navigation, social media integration and compelling and shareable visuals. We've added a feature called Nuclear Now, which showcases the latest industry news and resources like fact sheets and reports. It's one of the first sections you'll see on our home page and it can be accessed anywhere throughout the site by clicking on the atom symbol in the top right corner of the page.
Most importantly for you, our loyal NEI Nuclear Notes readers, is that we've migrated the blog to the new site. Moving forward, all blog posts will be published in the News section, along with our press releases, Nuclear Energy Overview stories and more. Just look for the &qu…

Hurricane Harvey Couldn't Stop the South Texas Project

As Hurricane Harvey battered southeast Texas over the past week, the devastation and loss of life in its wake have kept our attention and been a cause of grief.

Through the tragedy, many stories of heroics and sacrifice have emerged. Among those who have sacrificed are nearly 250 workers who have been hunkered down at the South Texas Project (STP) nuclear plant in Matagorda County, Texas.

STP’s priorities were always the safety of their employees and the communities they serve. We are proud that STP continued to operate at full power throughout the storm. It is a true testament to the reliability and resiliency of not only the operators but of our industry.

The world is starting to notice what a feat it is to have maintained operations through the catastrophic event. Forbes’ Rod Adams did an excellent job describing the contribution of these men and women:

“STP storm crew members deserve to be proud of the work that they are doing. Their families should take comfort in the fact that…