When people invest in the common stock of a public company, they are accepting risk. One of those risks is the management of the company making poor decisions that result in losses. When that happens, the managers should suffer, the employees suffer, and the investors suffer.
If you don’t believe me, take a look at General Electric, whose stock is now worth half of what it was and its dividend has been halved as well.
I find it astonishing that in the face of the nuclear debacle, the board of SCANA, in its continued arrogance, just declared its regular dividend as if it were business as usual.
Well, it is not, and our legislators and all residents of South Carolina affected by this mess should rise up and demand that SCANA stop charging us for its mistakes and directing those funds to its stockholders.
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The State publishes a cross section of the letters we receive from South Carolinians in order to provide a forum for our community and also to allow our community to get a good look at itself, for good or bad. The letters represent the views of the letter writers, not necessarily of The State.