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PostPosted: Feb 23, 2017 4:12 am 
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The Nuclear Industry Must Change, Or Die


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PostPosted: Feb 23, 2017 10:15 pm 
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Where did Toshiba go wrong, and where does it go now?

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Poor management has lead to Toshiba's other major risk factor -- a balance sheet ravaged by massive losses. It looks increasingly likely that the company will become technically insolvent at the end of March and be demoted to the second section of the Tokyo Stock Exchange. Toshiba is scrambling to avoid this, revealing on Feb. 14 a drastically revised plan to spin off or sell its flagship memory chip business.

"We must be ready to sell off 100% of our memory operations. Without that commitment, the company's not going to make it," said Yasuo Naruke, a senior executive vice president, at the board meeting on Feb. 14. That Naruke is willing to part with a business so dear to him speaks volumes about Toshiba's crisis.


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PostPosted: Feb 24, 2017 12:19 am 
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Kirk Sorensen wrote:

It appears to be changing within reasonable cost in Russia and China/Asia. Toshiba and Areva seem to be going to the other extreme.
I hope the Terrestrial points to a lead to a change in the original nuclear lands.


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PostPosted: Feb 24, 2017 5:56 pm 
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Kirk Sorensen wrote:


Is Nuclear Too Innovative?

No. It's not innovative enough.


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PostPosted: Mar 01, 2017 1:53 pm 
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Toshiba asks law firm to advise on potential Westinghouse bankruptcy cost: sources

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Analysts and sources with knowledge of the matter have previously said that even under a Chapter 11 filing, Toshiba could still be on the hook for up to $7 billion in contingent liabilities as it has guaranteed Westinghouse's contractual commitments - an arrangement typical for the nuclear industry. Toshiba dispatched a group of experts, including lawyers, to Westinghouse in mid-February to assess the U.S. unit's assets, the two sources said. Preliminary estimates from that group show a Westinghouse bankruptcy filing would result in Toshiba having to take a fresh charge of at least 300 billion yen ($2.6 billion), the sources said. That figure is narrower in scope than the $7 billion Toshiba has in contingent liabilities, as it does not include damages that Westinghouse's customers may seek from Toshiba, including damages that the owners of the two projects could claim if they were not completed. A Chapter 11 filing would still yield benefits, however, as Westinghouse would come off Toshiba's consolidated accounts. That could offset some of the charge, the sources said.


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PostPosted: Mar 05, 2017 2:32 pm 
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Kepco seen as potential buyer for Toshiba’s ailing nuclear unit


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PostPosted: Mar 08, 2017 7:00 am 
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High cost nuclear technology from the US, Japan and West Europe is getting a financial beating. US designs go to China for prototypes and trials. IAEA and the NSG should mentor safe and economical development not getting bound by politics.
It may have been a good aim to avoid nuclear weapon proliferation but it has failed. Now nuclear power expansion should be supported. There are nearly thirty takers for nuclear power which could easily double and provide electricity or reactors to all interested. Treat Toshiba and Westinghouse as commercial failure which is inevitable in competition.


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PostPosted: Mar 09, 2017 11:02 am 
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Toshiba's Westinghouse calls in U.S. bankruptcy lawyers

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The move comes after a $6.3 billion writedown at Westinghouse last month wiped out Toshiba's shareholder equity and caused it to seek divestments to create a buffer for any fresh financial problems. A Chapter 11 bankruptcy filing by Westinghouse in the United States could help limit Toshiba's losses, two people said, cautioning that the retainment of the debt restructuring lawyers from Weil is just an exploratory step, and that no decision about a bankruptcy filing had yet been taken.


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PostPosted: Mar 09, 2017 7:01 pm 
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Toshiba looks to unload most of Westinghouse

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Toshiba plans to turn Westinghouse Electric into a nonconsolidated subsidiary, aiming to minimize exposure to the risky nuclear business, though the troubled conglomerate will likely have trouble finding takers for the shares. Toshiba shelled out $4.15 billion for 77% of Westinghouse in 2006 to accelerate expansion in overseas nuclear markets. But an expected 712.5 billion yen ($6.2 billion) write-down this fiscal year stemming mainly from the American unit has thrown Toshiba into crisis.


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PostPosted: Mar 14, 2017 8:38 am 
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Troubled Nuclear Builder Seen Best Fit for Asian Ambitions

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Westinghouse would be a strategic fit in China or South Korea, which are developing their own reactors for export, according to analysts and academics. The region is also home to about half the world’s nuclear units under construction, while China is forecast to have the largest fleet fleet of reactors by the middle of next decade.


Toshiba pushes sale of nuclear unit Westinghouse as crisis deepens

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A sale would represent the latest in a series of drastic steps as Toshiba grapples with a multibillion dollar financial maelstrom stemming from Westinghouse's ill-fated purchase of a U.S. nuclear power plant construction company in 2015. It has already put up most or even all of its prized memory chip business for sale to cope with an upcoming $6.3 billion writedown for the nuclear business and to create a buffer for potential losses down the road. Westinghouse has been plagued by huge cost overruns at two U.S. projects in Georgia and South Carolina and liabilities related to those projects mean it is unlikely to be an easy asset to sell, despite attractive technology. Tsunakawa emphasized that the projects were only a small part of Westinghouse's business. "Around 80 percent of Westinghouse's revenues come from stable businesses in services and fuel-related businesses so I think that will be taken into consideration too," he told a news conference.


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PostPosted: Mar 20, 2017 6:02 am 
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Toshiba turnaround hopes, planned sale of Westinghouse find skeptics


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PostPosted: Mar 20, 2017 5:27 pm 
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Toshiba's Westinghouse seeks U.S. bankruptcy financing - sources

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Toshiba is reviewing proposals from financial institutions and investment firms about a so-called debtor-in-possession loan, which would carry the company through a potential bankruptcy, said two people familiar with the situation. The size of this financing package is expected to exceed $500 million, the people added.

Should it file for bankruptcy, the money would allow Westinghouse to continue to pay employees and build four nuclear power plants in Georgia and South Carolina, commissioned by local utility companies. These would be the first nuclear power plants built in the United States in more than 30 years.

The sources cautioned that the move is preparatory and that no decision has yet been made for Westinghouse to file for bankruptcy. They asked not to be identified because the deliberations are confidential.


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PostPosted: Mar 21, 2017 10:54 am 
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Toshiba Nuclear Woes Has Moody's Warning of Scana Credit Risks

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Moody’s lowered Scana’s outlook to “negative” because of the “uncertain future” of Westinghouse, which is building the two nuclear units at Scana’s V.C. Summer plant in South Carolina.


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PostPosted: Mar 23, 2017 2:50 am 
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The US NRC is cold enough to 'cold burn' Japanese fingers.


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PostPosted: Mar 24, 2017 6:47 am 
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Toshiba plans Westinghouse Chapter 11 filing, expects $9 billion in charges - sources


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