Economics
Southern CEO Flew to Tokyo to Look Toshiba CEO in the Eye
- Southern, Scana both say they want to finish nuclear projects
- Contractor Westinghouse has filed for bankruptcy protection
Southern, Scana to Continue Construction on 2 Projects
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The head of U.S. utility-owner Southern Co. says he flew to Tokyo for one primary reason: “To look the CEO of Toshiba in the eye” and remind him of the company’s “moral commitment” to getting a nuclear project in Georgia done.
In a Bloomberg Television interview, Southern CEO Thomas Fanning said he crossed an ocean to meet Toshiba Corp. CEO Satoshi Tsunakawa “business person-to-business person” to hammer out a plan on getting two nuclear reactors finished at its Vogtle plant after years of delays and billions in cost overruns. Fanning’s remarks came less than 24 hours after Toshiba’s Westinghouse Electric unit, which is contracted to build the reactors, filed for bankruptcy.