A Close Look at TVA Debt by the Experts.

Can you spell T-R-O-U-B-L-E for the TVA. The following are articles explaining the seriousness of the financial situation of the TVA.

The first article is from the Journal of Strategic Management Education. http://home.earthlink.net/~roubidoux/TVA_9-17-03.pdf A very striking point is the financial forecasting by the TVA concerning their debt. The TVA debt in 1997 was $27 billion. TVA's forecast in 1997 stated their debt would be reduced to $14 billion by 2007. Remarkably, TVA has not met their debt forecast, their debt is $22.6 billion as of December 31, 2007 according to the TVA's Form 10Q, December 31, 2007. In short the article states the TVA is in serious trouble. "There is a long history of inefficient management, poor forecasting performances and...[a] real threat of bankruptcy if it were not for the implicit guarantee of outstanding debt by the Federal Financing Bank." However, "...since the guarantee is implicit not explicit in the bond agreement, there is no assurance that bond holders will obtain the full value of their debt holdings should the TVA's financial situation deteriorate." The article goes on to recommend privatization in stages before a financial collapse occurs.

In the next article, http://www.rsmenergy.com/AugustReport.PDF a similar concern is expressed. It describes the TVA as: "The TVA-Taxpayers ENRON...The Bush administration has criticized TVA for its excessive debt and lack of plans to reduce it. TVA has now announced a plan to avoid going further into debt by having its distributors issue tax-free bonds, and then prepay TVA for future power deliveries." To top off TVA problems there is this: "If TVA’s near useless assets were written down to value, TVA would be insolvent (liabilities exceed assets)." TVA's leaseback and prepay plans are also problematic. "Both these leaseback and prepay plans have substantially the same impact as debt on TVA’ s financial condition. In fact, this is very costly debt at that. Further, the distributors will become more financially leveraged. So rather than developing and implementing a plan to work itself out of debt, TVA is digging itself and its distributors deeper into financial trouble."

Moves to privatize the TVA are described in these articles: http://www.knoxnews.com/news/2008/may/11/bill-calls-federal-oversight-tva/ and http://www.nemw.org/tvareport.htm Private utility companies have seen the TVA as unacceptable competition backed by the Federal Financing Bank. Due to new construction of new nuclear plants by the TVA it appears the competition surrounding the Tennessee Valley Region may get their wish, financial insolvency of the TVA. Of course, Nu-Start is waiting in the wings to purchase the assets of a financial insolvent TVA.

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Addition: Financial Reports link http://www.tva.gov/finance/reports/forwardlooking_sec.htm

Click on the accept button and it will take you to the Financial Reports of the TVA. The 10Q reports are the quarterly filings, the May 12, 2008 is the last 10Q quarterly filing. On page 32 of that report you will find the total debt and debt interest for the TVA.

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The question remains, how will the TVA pay for their proposed reactors at Bellefonte?

 

Our Great Nation

One of the reasons we are a great nation are the freedoms which we enjoy. The freedom of responsible speech and comments in media. Another, is due to the freedoms we enjoy as a result of the work of our scientists, technicians professional and lay people alike working hard at overcoming the problems of our nation and world. The freedoms spelled out in our Constitution and guarded by our many military service members, civilian government service workers in national, state and local political sub-divisions.

We are at a crisis juncture in our nations history. We have some very difficult decisions to make now and in the near future. One of those decisions is the direction we will take as a nation in "Wining our Energy Independence."

The decisions will not be easy ones, they will be difficult and there will be those that will say we must continue to strip our environment of its resources and continue the pollution trends by utilizing current and old technology, such as nuclear and fossil fuels.

We can not depend on fuel assets of other nations. This has brought us into a crisis of war and continued instability in the world and within our nation. We must take the lead in development of Sustainable Energy Resources such as solar and hydrogen power. New technologies need to be improved on and implemented.

We have a tremendous National Debt. Federal funding is getting scarcer and scarcer in resolving our energy problems. We must immediately begin solving any and all problems related to solar and hydrogen energy production. Nuclear and fossil fuel resources must serve our immediate needs until the implementation of a hydrogen/solar economy. The great minds involved in solving the problems of nuclear physics and tapping secondary oil reserves must be put to use in solving the remaining difficulties of a hydrogen/solar economy and Sustainable Energy solutions. Our very lives depend on it and our continued national sovereignty depends on moving from a fossil fuel based economy to a hydrogen/solar economy. The new technologies are present and available. It is a matter of national resolve to implement Sustainable Energy and of course money.

Citizens it will be your choice and the choice of our great national corporations. Do we move forward into the future with Sustainable Energy Solutions or do we move backwards and continue along our current trend of wars, fuels crisis and pollution? Part of the great national debate and decision making will be made in Scottsboro, Alabama.

Members of the "arklite group" ask each of you to weigh the alternatives, study, think and Pray to God that we will make the right decisions for our future

National Security Warning or How Local Politicians Must Not Placate the TVA

Global Warming declared of peek importance concerning our National Security. This announced on tonights NBC News. http://www.msnbc.msn.com/id/25372743/ However it seems this news is actually 4 years old: http://www.commondreams.org/views04/0225-13.htm (I wonder if Arianna will say, "I toldz vou so, Herr Boosh.") More from Common Dreams on this subject: http://www.commondreams.org/headlines04/0222-01.htm also http://www.commondreams.org/headlines04/0219-02.htm

Folks we need Alternative Energy and Energy Efficiency measures now. Fossil fuels and existing nuclear power (No new nuke plants. The mining of uranium and the processing contributes to global warming. There is also the radiation contamination risk.) is only a stop gap for a hydrogen/solar economy. We must immediately take action. The TVA must set a leadership role for Alternative Energy, not nuclear.

TVA, Improve the Dam Fleet Now! That includes the power generation systems. Some parts of the power generation system are over 75 years old. (They don't make e'm like that anymore.)
The TVA must utilize wind and solar energy solutions. Citizens, have been "all out" lied to concerning the viability of solar-voltaics and wind power applicability in this area. The TVA identifies peak wind production areas on the Cumberland Plateau. You do not have to have full sunshine to produce power. New technologies have surfaced and are ready for application. The more solar voltaic plastic sheeting produced the less expense involved. These new industries will grow in vast numbers.

Jackson County needs to concentrate in bringing these industries into this area. Hope you get this message Ron Bailey and Dus Rogers, members of the Chamber of Commerce and the citizens EDA, bring alternative energy producers into our vacant industrial parks. Work with the TVA to invest into Alternative Energy. Do it now before someone else makes the move and beats you to the draw.(This was a message that was attempted to be delivered in the BEST/BREDL meeting a couple of months ago at the Rec-Com where no local politicians showed up.) Besides, it will benefit all of us that you not sit on your collective posteriors and do the job you were hired to perform instead of placating the TVA concerning Nuclear Energy!

Cancer Risks and Factors for Jackson County, Alabama or "Assuming the Risks for Bellefonte."

Cancer Photos: Cancer of the Face; Cancer of the Rectum. Gross realities of poisons mutating cells within our body. Fair use for non-profit news reporting, photo credit Jeffrey Melton, MD

 

The following is relative to cancer risks and factors for Jackson County, Alabama. Risks for cancer increase as more and more carcinogenic poisons enter our environment, a pair of nuclear reactors at Bellefonte compound the risks for our community.

Updates, July 29,2012: link- http://statecancerprofiles.cancer.gov/map/map.withimage.php?01&001&001&00&0&02&0&1&6&0#map Jackson County ranks 10th in Alabama for overall cancer mortality- The death rate is 220.9 with a 95% confidence interval from 204.7 to 238.0 and 141 average annual deaths. North Alabama, as a region, has a high incidence of cancer.

Jackson County (2008 stats) ranks #1 in Alabama for ovarian cancer and #2 for brain cancer, (2012 update-see above stat map, this statistic has changed, although when this article was prepared it was reflected as high. Currently, July 2012, Marshall County leads the state in incidences of brain cancer; ovarian cancer rate is also reflected as a change with Marshall County depicted as 4th in state) http://statecancerprofiles.cancer.gov/incidencerates/index.php?stateFIPS=01&cancer=061&race=00&age=001&type=incd&sortVariableName=rate&sortOrder=default Jackson County ranks high in other cancers.

Compounding risks and factors. In the Cumberland Plateau and surrounding geological area we have a Radon health risk. Radon is a proven carcinogen. We have other environmental pollution problems. Radionuclide's have been present in our drinking and surface water, these reports may be found here, local reports:(Oct 19, 2011, unfortunately the EPA site is broken, the old links are not working. I have requested an active link to the Jackson County, Alabama water quality reports.) However, here is one link that seems to be working: http://water.epa.gov/lawsregs/rulesregs/sdwa/currentregulations.cfm These are the substances reflected in the reports found in Scottsboro's water supply in the past 10 years: Tritium, iodine 131, Strontium 90, Titanium dioxide208. Those substances were also found in Scottsboro's surface water supply, Tennessee River at Scottsboro along with Lead212. (Info on Tritium: http://www.nirs.org/factsheets/tritiumnaturalbackground.pdf Tritium levels frequently exceeded 200 pCi/L in Scottsboro as listed in the NAREL Report linked. Remember, a permissible level does not mean a safe level, ionizing radiation is cumulative. (As the body continues to receive radiation your risk increases for cellular mutations, cancer.)

Stevenson's water supply has been contaminated with known carcinogens, http://oaspub.epa.gov/enviro/sdw_report_v2.first_table?pws_id=AL0000732&state=AL&source=Groundwater&population=4110&sys_num=0 Risk continues to compound.

This German Report reflects problems for children who live near nuclear reactors. http://politicsnpoetry.wordpress.com/2008/01/25/child-cancer-risk-higher-near-nuclear-plants-study/ The translated study: http://www.bfs.de/en/kerntechnik/kinderkrebs/kikk.html

Adding the additional risk of a nuclear power plant compounds the risk of cellular mutations resulting in cancers, radioactive releases do occur. Citizens must realize there are no safe levels of ionizing radiation, permissible levels are not safe levels. Ionizing radiation is cumulative in the body as well as in nature. The more poison you add to your body the higher risk you assume for cancer, radiation is just one poison. Radiation Facts:http://www.nirs.org/radiation/radiationhome.htm Other fact sheets: http://www.nirs.org/factsheets/fctsht.htm

Important, once radiation is introduced into the food chain, radiation is compounded, dosage is increased as the radiation progresses up the food chain. Once the other poisons enter into the equation, before you know it you lead the state in cancers. Do citizens want the additional risk of cancer from a nuclear power plant? Please note the location of Scottsboro's east side water intake from the Bellefonte proposed twin reactors. (Top of page: Art of Bellefonte Units 3&4, map of Scottsboro water  by TVA, fair use rights for non-profit news reporting. Photo of Stop sign with Bellefonte cooling tower G. Morgan)

 

Scottsboro City Council Meeting

Old Business: 1) Rezoning Hearing concerning property belonging to Mr. Barnes, Mr. Ayers and Mr. Lackey near Driftwood Shores and along River Ridge. The land owners have received approval from the Planning Commission to rezone the property from a combination of zones, R1, R2, M1, AG to P1 for the purpose of a planned community. Mr. Barnes made a presentation for the rezoning and a spokesperson for the residents of Driftwood Shores made a presentation against the rezoning to include comments that parts of the City Zoning Ordinance are ambiguous. This issue will be decided at the next Regular council Meeting. 2) Rezoning Hearing concerning property in Driftwood Shores that is zoned M1 to R2. No objections were made. Rules were set aside, an ordinance was passed to rezone the area.

New Business: 1) Bid opening for Taxiway and Thresh-hold improvements for airport were accepted and approved. 2) Airport Board Appointment by Mr. Hodges, Mr Don Croft was named. The Mayor also made an appointment to the Airport Board, Mr. Mike Cousins. 3) Computer System approved for purchase for the City Courts. 4) City Election Resolution Notice approved. 5) Voting machine resolution approved. 5) Leave of Absence approved for Fire Chief Melton Potter while he runs for Mayor. 6) Bid opening for Tire Labor costs. League of Municipalities Attorneys stated the method for tire bidding devised and suggested by city council members was not legal. The bids were rejected and it was stated bidding must be accomplished in accordance with state law. 7) Declaration of Surplus Property for Fire Department. 8) Tabled Capital Improvement Funds usage of $250K out of $500K in Federal Streets Improvements funds. 9) Animal Control Shelter report was given by Prison Labor Site Supervisor.

Jackson County Commission Meeting

Meeting with the Commission: Darren Prince, Revenue Office; Carl Overton, Telecom Audit Group, Telecommunications Tariff Auditors; Todd Shrader, North Sand Mt. Park Board.


2 items on the Consent Agenda were approved.


Old Business: 1) Minutes approval from last meeting. 2) Increase for Northeast Alabama Water, Sewer and Fire Protection District Board member compensation, tabled. 3) Animal Control Officer Job Description Discussion, tabled. 4) Motion for Resolution Requesting local legislation by Legislative Delegation to establish Staggered Terms and District Voting for County Commission elected positions. Mr. Blizzard made a motion to remove the Agenda Item, the motion died due to lack of a second. A discussion ended with the County Attorney being assigned to draw up a resolution reflecting the issues as 2 separate entities on a ballot. Resolution will be decided at next meeting.


New Business: 1) Motion approved to pay Air Evac Life Team for County Employee coverage for job site flight coverage. 2) Perk testing approval for Jackson County Park and North Sand Mountain Park for County Engineer to perform perk tests at those sites. 3) Approval of Resolution of Agreement with the State DOT involving a Rail/Highway Crossing for CSXT Railroad and Co. Rd. 70, Federal funds for improvement. County must maintain stripping after improvements.