British Buyout of Power Infrastructure
Here we have Keyspan's Hyundai transformer at the Shore Rd. substation in Long Island.
National Grid Plc, the British owner of electric utilities in New York and Massachusetts, agreed to buy KeySpan Corp for $7.3 billion in cash (1), an acquisition that almost doubles the number of U.S. customers it serves. How long before UAE du-buys this British company and controls most of the electric power in the North East?
Here is some Keyspan trivia:
On July 29, 2002 Keyspan Energy Corp. ran an ad in Newsday in which it used this picture [below] of Long Island fishmongers to express its commitment to the people of Long Island. But astute readers soon noticed that the fishmongers were holding up King Salmon, a species found only in the Pacific. The fishmongers, it turned out, were standing in Seattle's Pike Place Market. The words "Mid-Island Fish" had been digitally inserted onto their aprons [From museum of hoaxes].
The original image, courtesy of Getty Images is here.
Which goes to show that in the Internet age you just can't photoshop a picture and get away with it.
ENDNOTES
(1):
Bloomberg News, National Grid of U.K. to Buy KeySpan for $7.3 Bln, People Say
The takeover at $42 a share will be announced as soon as today, said people briefed on the matter who asked not to be identified because the negotiations were private. London-based National Grid, manager of the power and natural-gas systems in the U.K., will also assume more than $4 billion in debt.
