Try though I did to resist gawking at the train wreck that is FirstEnergy these days simply because it's a giant distraction, I simply couldn't resist the belly laugh I got from this article that suggested renaming the Cleveland stadium "Company A Stadium."
That's right... Cleveland gets to be embarrassed for another 10 years by having its football stadium named for a company mired in dirty deals. Renaming the stadium gives me the giggles (and endless opportunities). However, instead of focusing on the company, and creative names for it (WorstEnergy, Perpetual Estimate, or the ever popular FirstInfluence) might I suggest we focus on its victims? Because that's who's thoroughly enjoying the schadenfreude oozing out of this spectacle... Schadenfreude Stadium. It even has that kicky alliterative punch. And who doesn't enjoy watching the Browns get their butt kicked on their home turf? If only football could be influenced by corporate cash, lobbyists and front groups...
The schadenfreude is already thick at the stadium. The "deal" to put FirstEnergy's name on the stadium was mired in muck from the very beginning. Fired FirstEnergy CEO Chuck Jones (at the time merely a CEO in waiting) demonstrated for everyone who would listen that FirstEnergy's influence was vast... and he seemed rather proud of it. Was this the beginning of the end for FirstEnergy? While FirstEnergy's Empire of Influence had been going strong for decades, previous CEOs like "Tony the Trickster" Alexander didn't parade that stuff out in public like Chatty Chuck. Chatty Chuck seemed to prefer the transparency of everyone knowing just how powerful he was. Was it arrogance? Or mere stupidity? We may never know, but one thing's for sure.... First Energy's influencing days seem to be over for now. Or else they're just going to have to get a little more cloak and dagger in carrying it out.
There are several audits of the company and its affiliates going on in two different states, in addition to the federal investigation that was made public last year. Ohio regulators are looking into FirstEnergy's political and charitable expenditures. The New Jersey BPU recently decided to open an audit of FirstEnergy's subsidiary in that state after its credit was downgraded.
Pardon the sickening simile, but FirstEnergy is like a giant boil that just got lanced... and all kinds of unspeakable things are leaking out of it. One might be surprised if they didn't know better. But for those who have been victims of FirstEnergy's Empire of Influence, its a schadenfreude shindig!
A new report claims that FirstEnergy funded a front group that attacked Cleveland Public Power last year. The group, Consumers Against Deceptive Fees, claimed to be an "advocate" for CPP customers, although it was funded by FirstEnergy. What reason would FirstEnergy have to spend money "advocating" for the customers of another utility? Competitive ones, perhaps, but not "advocacy" ones. Just another expensive front group funded by FirstEnergy, pretending to be an organic "grassroots" uprising of the people, although it is unlikely any unaffiliated "consumers" were involved.
FirstEnergy should stop with the front groups. They rarely succeed... and they're quite expensive. Who's paying for all this? That's what the Ohio Consumers Council wanted to know in the Ohio case... did any of FirstEnergy's influencing costs end up in consumer electric bills? Of course, FirstEnergy objected to answering.
How long can FirstEnergy continue to pretend the company had no idea how much influence was being purchased to support its money-making schemes? And when will state regulators in the other states FirstEnergy serves launch their own canoes into FirstEnergy's river of filth? Sounds like it may soon be time for a hostile takeover of certain FirstEnergy fiefdoms, either piecemeal, or swallowed whole by one of its fiercest competitors who may want to increase its own utility empire.
If Cleveland renames its football stadium Schadenfreude Stadium, I might even be tempted to visit. Not to watch a game, however, but to soak up the schadenfreude. I probably won't be alone.
The schadenfreude is already thick at the stadium. The "deal" to put FirstEnergy's name on the stadium was mired in muck from the very beginning. Fired FirstEnergy CEO Chuck Jones (at the time merely a CEO in waiting) demonstrated for everyone who would listen that FirstEnergy's influence was vast... and he seemed rather proud of it. Was this the beginning of the end for FirstEnergy? While FirstEnergy's Empire of Influence had been going strong for decades, previous CEOs like "Tony the Trickster" Alexander didn't parade that stuff out in public like Chatty Chuck. Chatty Chuck seemed to prefer the transparency of everyone knowing just how powerful he was. Was it arrogance? Or mere stupidity? We may never know, but one thing's for sure.... First Energy's influencing days seem to be over for now. Or else they're just going to have to get a little more cloak and dagger in carrying it out.
There are several audits of the company and its affiliates going on in two different states, in addition to the federal investigation that was made public last year. Ohio regulators are looking into FirstEnergy's political and charitable expenditures. The New Jersey BPU recently decided to open an audit of FirstEnergy's subsidiary in that state after its credit was downgraded.
Pardon the sickening simile, but FirstEnergy is like a giant boil that just got lanced... and all kinds of unspeakable things are leaking out of it. One might be surprised if they didn't know better. But for those who have been victims of FirstEnergy's Empire of Influence, its a schadenfreude shindig!
A new report claims that FirstEnergy funded a front group that attacked Cleveland Public Power last year. The group, Consumers Against Deceptive Fees, claimed to be an "advocate" for CPP customers, although it was funded by FirstEnergy. What reason would FirstEnergy have to spend money "advocating" for the customers of another utility? Competitive ones, perhaps, but not "advocacy" ones. Just another expensive front group funded by FirstEnergy, pretending to be an organic "grassroots" uprising of the people, although it is unlikely any unaffiliated "consumers" were involved.
FirstEnergy should stop with the front groups. They rarely succeed... and they're quite expensive. Who's paying for all this? That's what the Ohio Consumers Council wanted to know in the Ohio case... did any of FirstEnergy's influencing costs end up in consumer electric bills? Of course, FirstEnergy objected to answering.
How long can FirstEnergy continue to pretend the company had no idea how much influence was being purchased to support its money-making schemes? And when will state regulators in the other states FirstEnergy serves launch their own canoes into FirstEnergy's river of filth? Sounds like it may soon be time for a hostile takeover of certain FirstEnergy fiefdoms, either piecemeal, or swallowed whole by one of its fiercest competitors who may want to increase its own utility empire.
If Cleveland renames its football stadium Schadenfreude Stadium, I might even be tempted to visit. Not to watch a game, however, but to soak up the schadenfreude. I probably won't be alone.
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