What's good for Constellation isn't necessarily good for the rest of us

November 06, 2011

When asked by the head of the Public Service Commission what would happen if the Exelon-Constellation merger didn't go through, Constellation CEO Mayo A. Shattuck III said it would be bad for shareholders and hurt Constellation's reputation in the world.

What he didn't mention was that he would forfeit the enormous bonus he is to get as a result of the merger. Think how devastated he must have been about losing his $20 million bonus when the last merger didn't go through.

Of course, the hundreds of regular people who will lose their jobs in the merger, and thus won't be able to pay taxes or contribute to the economy, are only a tiny glitch for Mr. Shattuck.

Sure, these newly unemployed will probably have to rely on government services to get by at taxpayer expense. But what is more important than huge executive bonuses, higher stock prices and bigger corporate profits that benefit most of the population only marginally, if not at all?

The public perceives the Public Service Commission as being in the pocket of big business. We're still waiting for them to prove us wrong.

Laurin Motsay, Baltimore

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