Skip to comments.Toshiba takes over Westinghouse Electric
Posted on 10/17/2006 3:15:07 PM PDT by RS_Rider
Ownership of Westinghouse Electric Co. was transferred from British to Japanese hands yesterday as Toshiba Corp. completed the purchase of the Monroeville-based nuclear power plant company from British Nuclear Fuels PLC for $5.4 billion. An official announcement of the deal was expected this morning. Top officials of Toshiba, who are expected to be in town Friday to speak to Westinghouse employees, have said they intend to keep the company headquartered in Monroeville and retain current management and staff, which number about 3,000 locally and 9,000 worldwide.
(Excerpt) Read more at post-gazette.com ...
Sorry for the double post, machine running slow.
Yep. Of course, you know the story of why the electric chair is based on AC (think Edison propaganda)? And the one about Twain visiting Tesla and finding out about what affects experiencing high frequency electricity safely has on the GI tract (it was a bad thing that he always wore a white suit)?
Think of the mini-series!
Did you ever see the brief TV series that Richard Dean Anderson did after MacGyver? It was called Legend and he was a writer who created a bogus hero, supposedly based on himself. He tied up with an obvious Tesla character (during his sojourn in the wilderness working on wireless transmission of electricity) played by John de lancie (Q from Star Trek: TNG). It was great casting and, for those who knew who Tesla was, absolutely a treat. Lasted about 6 episodes.
Hey, we're just about the same vintage, I got a couple on you. I'm a mechanical designer and have had the opportunity to work in and visit some of the industrial sites around the area. It gives me the chills to walk through these places. They're going to tear down the atom smasher at the Chalfant Westinghouse facility someday soon and I'm going to hate to see that landmark go away.
Most important question, yet to be answered: how will this affect jobs in the Pittsburgh area?
You Can Be Sure If It's Westinghouse that the Japanese think this is a good deal.
I remember the days when the CEO of Westinghouse was known as a Penn State grad who liked to hire other Penn State grads. Those were the company's heydays.
Short term, its the status quo (with the Energy Center being 'moved' to the Waltz Mill site in Westmoreland County--or so the rumor mill says). Long term; if new plants are sold (primarily in the southern states--but NC being the most talked about) then there would be an exodus southward. But again just rumor (hubby works there too!)
Rumor heard recently is westinghouse to open facility/office in charlotte, nc.
Nice opportunity to diversify for a duke or areva employee here...
Here's hoping your husband's job is preserved.
Kids in college and kids approachign (quickly)!!!
FWIW, I believe that UPMC now owns the Energy Center property (UPMC uses one the office towers) and that is the impetus for the move to Waltz Mill.
I keep thinking that it's going to be easier for Toshiba/Westinghouse to gather talent in the Carolinas than in Cranberry or Monroeville. Pittsburgh has a knack of loosing young talent. Maybe if we get on the ball and build a couple more stadiums, tunnels and casinos that will all change.
Greyhound owns the energy center and Westinghouse is unhappy with the lease arrangement.
Jordan was a lot more interested in CBS than he was in Westinghouse - he started carving off chunks of the company so he could afford to spin around in the chairman's chair at CBS.
There was a great series of articles in one of the Pittsburgh papers years ago called "Who Killed Westinghouse?" - looked at each of the last several CEO's and the mistakes they made that killed what was once a great company.
Whatever happens, Pittsburghers are flexible in the face of change.
Yes...hubby just corrected me too...I really did think it was UPMC.
UPMC occupies a big chunk of the R&D center at Churchill. Seems that they are consuming everything around here. Wonder if that has anything to do with health care going from a not for profit busisness to a highly lucrative one?
My daughter will be graduating college this year...she switched majors (several times) after starting out as an Educuation Major (but has enough credits to still seek certification...its more complicated than it needs to be)...but she recently attended a conference at the David L. Lawrence Convention Center. Gov. Rendell was one of the keynote speakers...he spoke to the college kids and (proudly!?!) announced that as Gov. of PA he constantly gets 'thanked' by other Govs. for all of the Ed. majors (and other talent) our universities disperse nationwide. She told me because she just knows how much I like Fast Eddie...
That is so true. Each year it seems we note that 'flexibility' with more and more friends/relatives out of state when we send out our Christmas cards.
Westinghouse as well as PPG Industries used to offer a job to any graduate of CMU. I think that Pittsburgh looses more than 90 percent of CMU graduates now. Over 25 percent vacancy rate in downtown Pittsburgh!