Dennis Kucinich, back and rested after his re-election defeat in the March 6 primary, is again taking on the owner of Davis-Besse nuclear power plant.
Kucinich's high-profile criticism of the FirstEnergy-owned electrical generating station and his opposition to it having its 20-year license renewed probably didn't help his appeal for votes in the plant's home county of Ottawa. He came in third (162) in that county, behind Marcy Kaptur (1,684) and political newcomer Graham Veysey (217).
Kucinich lost the primary election, in which redistricting had put him and Kaptur, a Toledo Democrat, together in the same newly mapped 9th Congressional District. Kaptur now goes on to face Republican Samuel "Joe the Plumber" Wurzelbacher on Nov. 6.
He sent out a "thank you" to supporters Thursday saying that, compared to those who have lost a job or a home, his political loss was "inconsequential."
The ranking Democrat on the Regulatory Affairs Subcommittee, Kucinich requested that Securities and Exchange Commission Chairman Mary Shapiro investigate whether FirstEnergy violated federal securities law by providing “material misrepresentations” to investors in a letter dated October 31, 2011.
FirstEnergy sent the letter to reassure investors about damage to the shield wall of the Davis-Besse nuclear power plant, but understated the extent and location of the damage as well as the importance of the shield wall to the overall safety of the plant.
“Davis-Besse is a major asset of FirstEnergy, and any reduction of the value of Davis-Besse would have a significant impact on the price of FirstEnergy stock,” wrote Kucinich.
See a copy of Kucinich’s letter and analysis of FirstEnergy’s misrepresentations here.
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