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The Company is evolved into a diverse engineering, technology, construction, fabrication, environmental and industrial services organization.
This is really a short on the US media. The hype over the weekend and today reached John-the-Baptist proportions, as the media, led by CNN, found its latest proof that we are teteering on the edge of extinction. Our media loves disasters, and - I hope this is not news to anyone reading this - they use them to make lots of money. The earthquake in Japan was an awful natural disaster, and my heartfelt sympathies go out to all of those who have been affected by it. But folks, this does not hail the end of the Nuclear Energy industry any more than it portends the end of people choosing to live near the oceans. Today's sillyness makes for a good entry point for what I believe will be a quick recovery, or a good long term holding - much like BP when it got whacked last fall. I only wish I were a day trader and had picked it up when it was down 20% this morning...alot of investors have already taken advantage of this sell-off.In real news (you have to actually search for this stuff because it won't make headlines):“At this time, we do not believe there will be an impact on Shaw’s nuclear projects currently under construction in the United States and China,” CEO J.M. Bernhard Jr. said in a statement. “Our customers have indicated they intend to move forward.”In the quarter ended Nov. 30, Shaw reported a third of its $1.5 billion in sales came from the power unit, which includes its nuclear business. The shares had gained 12 percent this year before today.The company said in November it was named as contractor to develop a 2,700-megawatt nuclear power project in Texas, and is the construction contractor on Southern Co. (SO)’s Vogtle Units 3 and 4 in Georgia, which may be the first to get a Nuclear Regulatory Commission construction permit since 1979.Shaw also has a 20 percent stake in Westinghouse Electric Co., a nuclear-power technology provider controlled by Tokyo- based Toshiba Corp.
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