It looks like they got away with it. SCANA executives made millions on the unfinished nuclear reactors fiasco, sold the company and now argue that shareholders can’t sue for the loss of share value. Now that we’re tired of hearing about it, time will pass, the dust will settle and these “professionals” will enjoy a wonderful retirement somewhere, playing golf and counting their (our) money. Well played.
Many of us, however, are anxiously waiting for the FBI and Securities Exchange Commission to weigh in. The pressure is on to make this right. Really, it comes down to one word: prudent.
These executives used the Base Load Review Act to execute this fiasco. The BLRA requires management to act in a “prudent” manner. Did they act in a prudent manner? That’s easy: no.
The real question is whether the execs were incompetent or any laws were broken. If incompetent, they don’t deserve their bonuses and must return them to help pay for their ineptitude. If criminal, they must turn in their golden parachutes for orange jumpsuits.
On behalf of the public, the FBI and SEC need to make this right. It’s too bad these execs didn’t manage the nuclear project as well as they managed their bonuses.
Royal Trace Lane