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Miz Tootie Sugarbush's Review of AEP's 2Q 2018 Earnings Call

7/25/2018

4 Comments

 
Well, goodness, y'all.  Miz Tootie had to rise and shine quite early this morning to listen in on American Electric Power's 2nd Quarter Earnings Call.  Good heavens!  All those acronyms and numbers Mr. Brian was gushing, just a mile a minute, a gal could upset her delicate digestion just trying to keep up!  Miz Tootie has no idea what he was talking about, and can we be frank here... Miz Tootie simply doesn't care about those things.  Miz Tootie only wanted to hear about AEP's Wind Catcher project.

That nice Mr. Nick just talked a blue streak about Wind Catcher to start things off.  I thought he was never going to stop to take a breath, or even to make a reference to an old rock song, and was simply going to pitch forward onto the conference table and gasp for air.  But he persevered in the spirit of the old South.  You're such a trooper, Mr. Nick!

Miz Tootie thinks he said that he had worked a deal with his lovely suppliers to get a 4-week delay in his next notice to proceed on the project.  Hot as it's been, that's probably a good idea.  A body just can't move too fast in the summertime or it's liable to get all red in the face and begin to perspire.  We have to keep our cool.  Miz Tootie thought she heard Mr. Nick say August 31 was the newest deadline for a decision on the project.  He reasoned that would take them past the primary elections in Oklahoma so that they could wrap up "contemplating" an order without distraction.  Miz Tootie just can't imagine what distractions he meant, unless maybe it's gathering campaign contributions.  He just couldn't have been insinuating that the Commissioners weren't paying full attention to their stately duties at this time.

Miz Tootie's head was positively spinning when Mr. Nick launched into a football analogy.  "We're deep in the red zone... blah.... blah.... blah."  He was talking lickety-split just like those sports announcers on TV.  Miz Tootie is sure he practiced that in front of a mirror.  What a great performance!  Miz Tootie doesn't dabble in football so the analogy was lost on her.  How many better ways are there to spend your time when the weather becomes cool and crisp and mother nature puts on her party dress for the Fall Cotillion than sitting in front of a television set?  Miz Tootie simply wouldn't be caught dead indulging in such a grotesque and classless pursuit.

But then he mentioned beer and chicken wings.  Miz Tootie has been known to enjoy a beer or two during a harvest festival, but chicken wings are ghastly things!  The only civilized way to eat chicken is in a cool, creamy chicken salad with pecans and apples, served in a luminous globe on a bed of delicate baby lettuces with a tall, icy glass of sweet tea.  Miz Tootie simply must invite Mr. Nick over to learn about the finer things in life.  Chicken wings, indeed!

Mr. Nick said that his company "gave it our best shot" on Wind Catcher.  Miz Tootie imagines it was quite like the effort she recently made to save her petunias from the Japanese Beetle swarm.  Luckily, petunias are on sale down at the garden center, so she simply tossed the raggedy old things in the compost pile and bought some new ones.  Just like AEP, Miz Tootie's garden is still strong, even though she chucked out those once lovely petunias.

Miz Tootie was positively delighted with Mr. Nick's choice of song reference for today's earnings call.  It's a lovely song, isn't it?
Yes, and how many times can a man turn his head, And pretend that he just doesn't see?

The answer, my friend, is blowin' in the wind...

Yes, Mr. Nick, how is it that you just don't see how your project would ruin the future hopes and dreams of hundreds of Oklahoma landowners?  Miz Tootie hopes there's nothing wrong with his vision!  It seems a bit myopic.

Miz Tootie got the distinct impression that the answer Mr. Nick expects to be blowing in the wind in Texas and Oklahoma is a resounding NO.  What other reason would he have to refer to Wind Catcher in the past tense in response to the first question from Ms. Claire?

Wind Catcher was incremental...
 Who else caught that unseemly slip?  Miz Tootie dearly hopes all those earnings call analysts had their lie detector machines plugged in and set to "high" this morning.

Miz Tootie thought Mr. Nick would just about exhaust himself trying to talk fast enough to answer Mr. Ali's probing question.  Mr. Ali wanted to know why Mr. Nick's project decision deadlines were just about as slippery as a fat garden slug, and when Mr. Nick would make the call to walk away from Wind Catcher because it was pressuring his company stock.  Mr. Nick had a very long story to stutter through, and honestly Miz Tootie was getting sort of bored.  But when Mr. Nick mentioned a 60% off sale, Miz Tootie's ears pricked right up!  But she didn't quite catch the location.  Miz Tootie hopes it's Belk's, she could use some refreshing of her modern, southern style!   Mr. Nick said something about a deadline of August 31, so Miz Tootie is looking forward to a late summer shopping trip!

Mr. Paul wanted to know what Mr. Nick thought was likely to happen in Texas on Thursday.  Miz Tootie thinks it's going to be dreadfully HOT in Texas on Thursday, but Mr. Nick is nothing if not optimistic.  He thinks it's more likely that he'll just have to answer a few questions.  As if those lovely people in Texas have nothing better to do than play 20 Questions with Mr. Nick and his friends.

Miz Tootie thinks she heard Mr. Nick making plans for neutralizing his company's loss on Wind Catcher by reducing his O&M in 2019.  Miz Tootie finds it quite distressing to contemplate the electric service needs of customers like herself being run like a 60% off sale at Belk's next year.  Miz Tootie hopes Mr. Nick's O&M cuts won't do anything drastic that affects customer service but will instead focus on cutting the fat overload in AEP's transmission planning department.  Wouldn't that be just desserts?  Who doesn't love a delicious plate of Strawberry Schadenfreude... err, Miz Tootie meant to say shortcake.  Strawberry Shortcake.

And finally, Miz Tootie never delves into unkindness, and she believes it was quite unkind of Mr. Nick to say that Mr. Hunter is "way off base."  Miz Tootie's mama always said, "Tallulah," (Mama never was fond of endearing nicknames and insisted on calling Miz Tootie by her full name).  "Tallulah," she said, "If you don't have something nice to say about someone, you should say nothing at all."  I'm not sure where Mr. Nick was raised to speak ill of that lovely Mr. Hunter that way, and in such a public venue, too, but maybe he wasn't as fortunate as Miz Tootie to be raised in one of the best Southern families.  Bless his heart!

And now that Miz Tootie has had her curiosity about Wind Catcher satisfied, it's time to move onto more fruitful pursuits (and couldn't we all benefit from moving on), like supervising the pool boy and planning entertainment for the upcoming Southern Heritage cotillion.  It's just going to take your breath away, y'all!
4 Comments
Bob Dylan's Ghost
7/25/2018 11:43:38 am

What a self centered boob you are, Nick Akins! You must be one of those white bread garage band punks who only know the chorus to my songs. There's a much deeper message in that song, one of self awareness and grace, one you need to learn. Stop thinking about your stock bonus and start thinking about your effect on the greater world. And now and then think about those less fortunate. You've been locked in that soot-stained concrete tower much too long. Free yourself before it's too late.

Reply
Dr. Freud
7/25/2018 12:36:55 pm

Verrrrrry interesting.

Mr. Akins was so overwrought that he had a Me slip on the first question he was asked.

Who's your momma?

Reply
Jackson
7/26/2018 08:20:33 am

alleluia !!!
haha, Bob Braddish, yep he was brought up thrice .. that's the half-wit planning dept goof under Lisa's finger. See ya, Pudge!! (not)

Reply
Bean Counter
7/26/2018 08:53:41 am

Do you suppose the combined salaries of the rotund Mr. Bradish and the illiterate Ms. Barton would equal the "tens of millions of dollars" wasted on Wind Catcher? Heaven forbid it affects the bonuses of bigger fish.

Reply



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    About the Author

    Keryn Newman blogs here at StopPATH WV about energy issues, transmission policy, misguided regulation, our greedy energy companies and their corporate spin.
    In 2008, AEP & Allegheny Energy's PATH joint venture used their transmission line routing etch-a-sketch to draw a 765kV line across the street from her house. Oooops! And the rest is history.

    About
    StopPATH Blog

    StopPATH Blog began as a forum for information and opinion about the PATH transmission project.  The PATH project was abandoned in 2012, however, this blog was not.

    StopPATH Blog continues to bring you energy policy news and opinion from a consumer's point of view.  If it's sometimes snarky and oftentimes irreverent, just remember that the truth isn't pretty.  People come here because they want the truth, instead of the usual dreadful lies this industry continues to tell itself.  If you keep reading, I'll keep writing.


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