MOBILE NOT RESPONDING TO CUC CREDIT REQUEST...CUC's ROAD ONLY A CHAIN OF BRIDGES...
IN THE NEWS:
CUC asks Mobil for 60-day credit term: Story Here..
The Commonwealth Utilities Corp. has asked its fuel supplier for an arrangement that will allow CUC to delay payment for fuel for 60 days. Muña argued that a 60-day credit term would benefit not only CUC, but also Mobil. “Both CUC and Mobil have something to gain by immediately implementing credit terms for fuel purchases, which will stabilize CUC working capital needs to address not only fuel purchases but non-fuel costs as well.
One reason Mobile hasn't responded is they still are looking to find just what the advantage would be to them to extend credit to CUC. It seems that CUC is running on a road of bridges. Every time there is a problem they scrape and scratch to cross that bridge only to run into another one every time they turn around. It appears that is what they are doing with asking Mobile for credit.
As of Friday, CUC had yet to receive a response from Mobil about the proposal.
Another reason they haven't responded is..... They can't stop laughing! Imagine asking for credit with CUC's credit rating, which is a big fat ZERO! As a fellow blogger recently put it, it is like a druggie looking for his next fix. Everything will be A-OK if he can just get the next fix. Then it is start all over again, getting the next fix, crossing the next bridge. A never ending downward spiral.
Wanna bet on the credit request? I'll say... Never happen, how about you?
.....GED.....
7 comments:
Lol! Mobil has nothing to gain from it. It's all smoke and mirrors and this administration is just trying to spin more lies instead of dealing with the real issue at hand: incompetence.
And now the Fitial administration is looking at borrowing $350 million from a Rhode Island bank? Geez, I'm scared to even think about Fitial having $350 million to spend. I wonder how many more DCM contracts we will be seeing!
God help us, because this Fitial administration won't!
Mobil executives are probably yukking it up big time over CUC's request for an extension of credit! Why do we have the highest power rates in the United Sates and its Insular Areas? Where is the money that CUC collects from its customers really going? The Ben Tan Administration's energy policy/strategy is pretty simple: get control of CUC's revenues so it can give lucrative contracts to friends of Ben and Tim! Oops...Tim's defection just means more contracts for Ben's buddies. Anyone who doubts this theory should ask himself or herself why one of the first acts of this administration was to issue an Executive Order to take over CUC. They now realize that they won't get reelected and want to cash out while they can. They probably know that the MPLT loan will be challenged! The Retirement Fund won't loan them money for the same reasons. The money boys from Rhode Island should be very careful as Ben and his cronies have no scrupples and will stiff them in a Marianas minute!
There could be a benefit to Mobil.. in that, CUC would not need to turn the power off, if they knew they had the fuel capacity to keep it on, hence, they would burn more Mobil fuel.
The catch would be paying for it.
I can imagine that many of our past "brownouts" were due in part, to the need to conserve fuel.
You guys are bent on hitting the Fitial Administration to the ground. I think it will take a deluge before you can succeed. People are not sold to your devious ideas.
Have you asked the "man on the street" lately? I think you're hiding under a rock if you don't think these sentiments are expressed by the great majority of people here.
You guys are bent on hitting the Fitial Administration to the ground.
Anon, Don't you think they are doing a helluva job of it all by themselves? They don't need us to help them run themselves into the ground!
Lol! Glen, apparently you have a lot of Fitial loyalists/employees who visit your site.
Now if only they could learn something....
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