UI had its annual conference call last week February 2008. To sum things up they whined that the economy was slow, you could not pay your bill and their losses on bogus xcelecom were disappointing.
On the party side their profit jumped 288% from 9 cents a share to 35 Cents a share! This profit was achieved by those of you who are paying your bills. They are anxiously waiting to fire up their pollution factories formerly known as the "filthy Five" and the "Sooty Seven" to increase their profits even more perversely.
As they increase their mega profits, the Connecticut Post today noted that Milford's pre-forclosures are up from 50 last month to 166 this month. The front page of the finance section bears concern of stagflation. But don't worry UI's Executives are also concerned about the economy, it has held their profits back to only 288% when they should have been more than that. The awful truth, if I may add a little sarcasm, is that purchasing candles has become a much cheaper lighting source than electric. This may now become even more relevant as the 2009 future prediction by UI's executives greedily boast double digit profit projections. I predict more people will be "breaking a sweat" flipping a light switch and/or acting out against family members who do not shut off lights.
I am absolutely baffled by the quote of Rich who said "Continuing operations for the fourth quarter are up nicely 35 Cents a share compared to 9 cents a share in 2006." I am absolutely speechless that this company was allowed to conduct itself in the economically oppressive manner that it has. This is an outrage and I am appalled that the DPUC has no control over the menacing profit of a public utility company.
Amazingly, they even succeeded in bilking the IRS out of 21 Million Dollars! Listen to the entire conference call because I am disappointed that in spite of the fact that this company has been given a new power grid, overcharged us with fraudulent meters, was given a 90% increase in just 7 years, killed parakeets, razed the landscape, devalued homes, and is now planning to poison our air in Milford come 2009, that DPUC continues to ignore the fact that people are losing their homes and need a break!
The conference call speaks for itself! Also the beginning of the broadcast is blank air time scroll to the middle of the feed for the conference call to begin.
Listen by clicking here.