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Toshiba Shares Plummet After Warning of 'Billions' in Losses (cnn.com)
Toshiba's troubles keep piling up. From a report on CNN Money: The Japanese firm's shares plunged 20% on Wednesday, after the company warned it is expecting billions of dollars in losses from its takeover of a U.S. nuclear construction business last year. "We're still figuring out the exact numbers, but it could reach up to several hundred billion yen," CEO Satoshi Tsunakawa told reporters Tuesday. Toshiba's U.S. nuclear-power subsidiary Westinghouse acquired CB&I Stone & Webster late last year, when Toshiba was still struggling to recover from a $1.2 billion accounting scandal. Toshiba's shares dived in the months following that scandal, which led to a major management reshuffle after the Japanese conglomerate admitted it had doctored financial results for years. The company reported a loss of 460 billion yen ($3.9 billion) for 2015.
And Uber is projected to lose 2.6 billion next year.
Funny how that works.
How I was able to afford to buy shares of Toshiba with this one weird trick.
It seems to me they'll always have that to fall back on. I assume they have all sorts of patent money coming in from that. But yeah, nuclear construction sounds expensive.
Link about Toshiba:
https://en.wikipedia.org/wiki/...
I like nuke reactors. I think much can be done with them to reduce reliance on fossil fuels. However, due to the regulatory red tape and NIMBY/enviro freakout factions in the US, investing in reactor construction in the US seems like a very expensive and extremely risky proposition. I wouldn't put a large portion of my eggs in that basket.
Silence is a state of mime.
I had a Satellite for many years. Now I have a 2013 Qosmio that was one of the most powerful gaming laptops in 2013 and one of the cheapest. They stopped with consumer laptops last year. Now they are going down. Sad face...
Media just likes to blow things out of proportion as usual. Toshiba is doing fine, and will keep doing fine.
See what happens when you fsck with the alt-f4 keyboard mapping?
Have you fscked your local propeller head today?
They just need to go bankrupt a few times and start bragging about groping women without their consent. They could be the next emperor of Japan.
shale gas based power plants and renewables have absolutely crushed industries like nuclear in the last 10 years. Toshiba was utterly foolish to make this purchase without considering the fact that nuclear power plants are inexorably more expensive to build, maintain, and operate than other energy systems. nuclear plants spend months offline for maintenance and reconditioning, and take months more to fully go online. Not to mention the fact that a failure at a gas power plant is generally not going to render the surrounding states uninhabitable for a thousand years.
Good people go to bed earlier.
Bleep the whole bleeping company. Absolutely the worst customer service for retail products I've ever run across. If only I'd read some of the forum columns about their refusal to honor warranties before I'd bought a TV set, I could have saved myself a lot of pain.
https://app.box.com/WitthoftResume Code: https://github.com/cellocgw
N/M.
Whatever happened to their semiconductor business? I recall a time they used to fab MIPS R4600 CPUs
Wow. OK, And you're modded "insightful" Toshiba (Westinghouse) has decades of experience in the nuclear industry. Their Westinghouse division is one of the oldest players. I'm certain they understand the costs quite well. What you're seeing here is something else (accounting or engineering controls issues at the company they purchased, perhaps) Reactors only go down for months at a time when something major needs to be replaced. Steam generators. Turbines. entire cooling towers. Same is true of any coal, petroleum, gas, or biomass fired steam boiler. So, to be clear, if you have to overhaul the turbine(s) on your gas fired plant, it's going to be down for a couple of months. Refueling a reactor takes a couple of weeks, a significant chunk of which is waiting for the core to cool off due to decay heat, and bringing the core safely back up to operating temperature afterwards. Uh, uninhabitable for thousands of years? I think you're exaggerating a bit.
These are bargain prices, Mortimer!
Toshiba is still in business? What business are they in? I've not seen a Toshiba product in the past decade.
but once built the plant can run for 80 to 100 years and pay for itself many times over
In the context of the price of Solar consistently continuing to drop (17% in 2016, alone), your statement is testament to why nuclear power is failing. . .
Proponents of nuclear power are fucking retarded when it comes to finance. . . Power generation is like the computer industry now. Who the fuck would buy a computer to recoup the cost over 80~100 fucking years!!!?? Power generation is going from a resource driven activity to a manufacturing driven one. Manufacturing technology improves exponentially. Fucking wake up, already. It is no longer about grid parity but god parity (so RIP centralized generation).
At this point, it is clear the nuclear power industry is doomed. My main concern is what to do with all the fanboy dumb asses who will not be able to support themselves due to retarded investment decisions. The only thing this industry will leave behind is waste, both the radioactive kind and the human kind. . .
They stopped their entire direct resale and direct consumer sales program and their C50-55 satellite computers are absolute garbage. Like on par with HP garbage. Those are the real 2 reasons they're tanking right now.
Let me help you with these parts.
The reactors that were in service there all suffered from design flaws, referred to as a 'Design Basis Issues'. They work around these issues by have operational and implementation processes so that suffering an accident from that flaw can be avoided. This requires strict adherence to the manufactuer and implementing the support systems the reactor requires.
In the case of the Fukushima reactors the American Society of Mechanical Engineers found two flaws, the pressure vessel itself leaked above 70psi and the gate pair seal for the spent fuel cooling pools would start to leak.
The reactor was rated to the ground acceleration it experienced. At issue was that TEPCO did not adhere to the recommendations for operating these reactors that *must* always have power supplied to them so as not to expose these issues.
Loss of power to the backup cooling would initiate these events because a loss of cooling (Accident) would cause the reactor core to heat and begin to produce hydrogen. The pressure would build and thus the reactor start to leak hydrogen above 70 psi. The same thing would happen in the cooling pool because of the leaking gate pair seals, with less water to cool the spent fuel, they too started heat, boil and produce hydrogen outside of the reactor.
When the moderator is gone and the fuel rods get thermally and radioactively hot it initiates a thing called a 'plutonium fire'. This was the main motivation for emptying the unit 4 pool as it was unstable and its foundations had sunk an additional 30 inches into the ground. Fortunately this has recently been completed.
Let us call this what it is: a 'meltdown'.
We should be concerning ourselves how to ensure improvements to the existing Nuclear Industry are implemented. We have seen examples of the professionals in organizations like the NRC who can indentify and design improvements that manifest in regulation however, as we can see in the official report, TEPCO colluded to *prevent* these improvements from occurring.
Some of TEPCO's board has been charged with negligence because of the criminal negligence of the board of TEPCO. They colluded with the regulator and put everyone's safety at risk. It makes me think of that story about the guy putting the cruise control on the Winnebago and then stepping into the back to make himself a coffee just before the vehicle drove itself off an embankment. It's a close analogy the only difference is that TEPCO understood what the risks were. They read the owners manual, so to speak, they didn't want to spend the money because they believed it wasn't required.
At issue is if human beings are able to operate them safely. Chernobyl and Fukushima both failed because of how they were being managed and it is these types of organizational failures that have caused these disasters. The hubris of the operators caused the destruction of the communities that surround them.
No matter what reactor technology is being used it seems we haven't been able to avoid this characteristic of human nature as Fukushima shows that the nuclear industry learned nothing from Chernobyl.
My ism, it's full of beliefs.