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King I am impressed. It certainly does sound like your sources are well informed. I can see why you have been invested here for so long. This news could certainly lead to another well-worded MB PR. The only other obstacles are all the ones that Laidlaw has yet to answer. Do your sources know if Laidlaw plans to answer those questions for the committee also? I believe they are waiting for answers. As are many others. TIA
Thanks Sage, I believe I will have it my way. Especially since I live here. Perhaps when Laidlaw finally admits they cannot make Berlin work because of the many obstacles that face them, you will come visit Berlin to watch the last stack come down. I will personally greet you and buy the first round. It will be a fitting end and a joyous day when the both of us can watch as the last remaining detriment to it’s brilliant future hits the ground. What do you say Sage? Do we have a date?
Unfortunately for you Sage it appears to me that your information is once again completely inaccurate IMO. This is obvious to me given the amount of PR’s Laidlaw has released over the last several years which have never come to fruition. As many have tried to explain there are just to many obstacles preventing Laidlaw from making biomass in Berlin a reality IMO. The more time that passes the more obvious it is becoming that Laidlaw will be unable to address all the issues that this committee will confirm through their research. As much as it may aggravate you Laidlaw in Berlin is looking more like an uncertainty with every passing day. Even Brungy has been drinking the kool aid and is under the spell of “easy money”. Sad really.
Once the committee starts looking for the answers to the hard questions that many have been asking for years now, Laidlaw supporters will have no choice but to acknowledge what others have been saying for several years. Laidlaw simply can’t answer the questions because they never had the answers. This committee will unwittingly prove that it was all just pipe dreams in someone’s mind before this is all over. IMO. So if you believe Laidlaw is waiting for this committee to be done before filing, then you better be prepared to sit around indefinitely IMO.
Thanks Sage, it is good to know someone here knows MB as intimately as you do. That is great information. THANKS!
Thanks for sharing your understanding of corporate and project finance Sage. Unfortunately it sounds like you may not completely understand how that truly works. I am more then happy to explain it to you in private email if you like. I rather not take up to much space here trying to explain it since I suspect it is quite basic knowledge in the investment world.
Just let me know.
To bad Laidlaw doesn't actually own the site huh?
Once it final becomes clear to everyone that Laidlaw will not be building in Berlin, (soon I believe) come visit and I will be happy to explain everything to you in person. You will get quite an education on how things came to be the way they are. But more importantly you will see first hand why a majority of residents voted to elect officials who want something other then biomass on the mill site. It will be quite an eye opener. My guess is that this falls coming election will yield the same results as the last.
The EPA does not agree with you.
"Matt Robbie of E2 Inc. stated that the cell house property is abandoned property and in an area zoned industrial business. The committee reviewing the site for possible re-use set the following reasonable goals: industrial/commercial, residential, office, community facilities, recreation space, heritage corridor, trails, and river access. The most supported use was commercial and least supported was residential."
"Mayor Bertrand theorized that this piece of land is the worse culprit as far as pollution and if it can be remediated, the rest of the mill property parcel could be developed for mixed use."
http://www.berlinnh.gov/Pages/BerlinNH_CouncilMinutes/I02411425
Care to take a stab at any of these?
- Their first was Ellicottville, which they operated for around 3 years, till they drove it bankrupt.
- in 2004 they announced that they would restart that Ellicottville project with financing from Greystone. That same PR announced a joint venture with Cousineau Forest Products to develop a venture to chip used pallets.
- Dec. 2004 they announced their $1 million NYSERDA grant. Of which they've actually received $199,000.
- 2006 they announced the start of two new projects
~ a 20 MW greenfield project to burn construction and demolition debris, which would be located at the New Bedford Business Park in Dartmouth, MA.
~ The restart/refurbishment of a 20 MW plant in central NH. (Alexandria)
- June 2006 they announced that they were working to restart the NY project (this time for sure) with funding from Basic Energy. They also announced that they were ready to acquire the Alexandria plant.
- Jan. 2007 they announced that they had "raised a fair amount of capital" and were forming an agricultural division that would buy 1,000 acres of land to grow hybrid willows for fuel.
- Apr. 2007 LLEG announced the Berlin project with financing coming from Basic Energy
- June 2007 LLEG announced that financing of the Berlin project would be done by Triangle Equities of Whitestone, NY
- August 2007 they announced that the Berlin project would be financed through Greystone CDE
- Nov. 2007 Bartoszek announced that LLEG was well capitalized and had partners with very deep pockets and that LLEG had a number of very good projects in pipeline including a couple in MA.
- Dec. 2007 LLEG announced that they had engaged a firm to audit the company in preparation for listing on the Over-The-Counter Board during the first quarter of 2008.
- April 2008 it is announced that HH Capital Advisors would provide financing for the Berlin project.
- January 2009 Laidlaw announced that they had the requisite financing for the project. Though no company or individual was named, just a statement that they had it.
Oh will you look at that. Yes it must be if you read it in the BDS. Well, I was only asking because when it’s all said and done it will be interesting to go back and point out how some individual investors could be so easily manipulated by everything they read.
I do hope we can all stay in touch. You will find me in Laidlaw free Berlin.
;)
How do you get that they are working with the city from that article?
I base my guess on information that I have gathered in the last 20 plus years. And knowing who the players are.
That’s not the way it works here in NH when it comes to electricity. We’ll just have to wait and see what comes of the CPD complaint to the PUC against PSNH. My guess is it will have to offer the same deal to CPD as it did to Laidlaw, or scrap it. Which by the way has yet to be approved by the PUC. So while there may be a deal in theory between PSNH and Laidlaw, it still needs the PUC’s blessing before it is official. My guess is it won’t be approved.
Actually CPD told PSNH they would sell it to them for the same rate PSNH agreed to buy it from Laidlaw.
So are you saying the “bashers” know what is going to happen more then the pumpers? And therefore the pumpers should base their buying strategy on that? Hey whatever works for you Sage.
Why is that Matt?
I would say good guess Brungy, but based on the history of this company and all the obstacles Laidlaw still has facing them, highly unlikely we will ever see an application filed IMO.
It is interesting to read some of the more recent posts here though. After being here a couple years now I would say the names change, but the posts remain the same.
“Getting closer”
“News coming soon”
“Big things coming here”
“Bright future here”
and one of my favorites “I am buying now while still cheap”
But the best advice I have seen here so far is to only invest with money you can afford to lose.
"Jon, Rich, any take on this?"
Yeah Matt, I will believe it when I see it.
Surely this did not come as a surprise to anyone. If it was, then you are in for more surprises IMO. There is a big difference between having an agreement to purchase power and a PUC approved contract to purchase power. Which is something Laidlaw does not appear to have and as a result of this, is unlikely to get IMO. And without a PUC approved contract to sell power to PSNH, it makes the odds of Laidlaw submitting an application to SEC about as good as the likelihood of the pulp mill returning to Berlin. IMO.
Would you have a link to that story by chance? TIA
I don’t believe you will see the application any time at all IMO. This company has yet to do anything since it’s beginning as the record clearly shows. Unless you count frivolous lawsuits, unpaid bills, endless PR’s and taking lots of money from “investors” who seem to come and go faster then you can say dilution. If you truly do your due diligence you have to ask why anyone would want to buy this stock. All I can say to that is it must be the lure of easy money; it's got a very strong appeal.
I agree.
To bad it's not really owned by Laidlaw.
Do you know the reason why they refused to attend?
When it is clear that Laidlaw will not be operating in Berlin, it will also be obvious to everyone that it is because of their own undoing, and had nothing to do with outside forces.
It appears to me you lack understanding of the procedures public officials are required to follow by NH State law to hold non-public meetings.
Perhaps you want to look at the laws governing them?
http://www.gencourt.state.nh.us/RSA/html/NHTOC/NHTOC-VI-91-A.htm
And if you were suggesting that a lawyer, banker, real estate agent and several local prominent business people would be doing anything illegal for self gain, you obviously don’t know these people, and have your own agenda IMO.
It will be interesting to see who is incompetent as time goes on. I will be anxiously waiting to hear deLaidlaw’s excuse for not filing the application.
The company that is proposing the Berlin casino has a track record of running casinos.
http://www.harveystahoe.com/casinos/harveys-lake-tahoe/hotel-casino/property-home.shtml
They must see something more in Berlin then a mill town. More then you can say about Laidlaw. Who offers nothing new for Berlin except more of the same old thinking that got it in the trouble it is today.
So Matt, when Laidlaw fails to file their application this year, how much longer will you continue your dream that Laidlaw will someday carry out just one of their PR’s?
It appears downtown Berlin may not be out of the question for a casino and tourism.
A much better fit for an area with so much natural beauty and tourism potential then a stinky, noisy, ugly 66 mw biomass plant in the middle of the city. IMO
Proposal calls for casino at Albert Theater
http://www.laconiadailysun.com/BerlinPDF/2009/6/10B.pdf
This is how people get misinformation. Read the article again. That was not in Berlin. Not even this State.
Gmen, I believe the master plan is in the finally stages of being completed. If I am not mistaken it will address that very question. If you are unable or unwilling to make some inquiries to satisfy your own questions, then I suggest you wait to see what the people involved in that process have to say about it.
Meanwhile it appears Mayor and Council are not alone in their belief that a 66MW biomass plant does not belong in the middle of Berlin NH.
To the editor:
I’m concerned with commissioner’s decision to file as interveners for Laidlaw.
I would like to voice my concern regarding the Commissioners’ decision to file as interveners for Laidlaw Berlin Biopower. I live in Berlin and own a home here. I, along with all of my neighbors and friends, do not want Laidlaw here in the middle of our beautiful city. Your position is not supported by the large majority of the citizens here. I wonder if you and your citizens would like this green monster in the middle of your beautiful Pittsburg or the picturesque Jefferson? Our own mayor and city council have made it clear that they support the will of the people. Our vote was clear when our last Mayor lost his position largely to his support of this Laidlaw project. I have researched this company and the communities in which they do business and have come to oppose this shortsighted band aid based on these communities discontent. Please reconsider your position. Lisa Tilton Berlin
ftp://www.laconiadailysun.com/Berlinpdf/2009/5/21B.pdf
Gem, I believe may be confusing my pro-Berlin stance as being anti-Laidlaw. I support the city’s effort to make sure Laidlaw’s PR’s are everything they claim. And so should all investors. If they can withstand the scrutiny of the EFSEC process and attain a permit then they will earn the right to operate. I may not like it, but at least I will sleep better knowing that the city has done everything required to protect what is in it's best interest. Which is more then it has done in the past with companies who came to cash in at Berlin’s expense under the guise of being Berlin’s savior. No one should expect the city to do any less. And thankfully this Mayor and Council have not forgotten mistakes made by prior administrations, which is in large part the reason why Berlin is where it is today economically.
Gmen, you seemed to be obsessed with the idea that the Mayor has some secret grand vision. Perhaps you can put some of that excellent dd you used to justify your investment in LLEG to work finding that answer. May I suggest you ask the Mayor directly? He is a very approachable individual. I am sure with your dd skills you won’t have any problem finding his contact information.
As for your statement that they “are seeking to reap some sort of benefit”, how about you provide proof to back that up?
TIA
Yes Tom, I look forward to the EFSEC process now that the city has attained legal counsel to represent its best interest. For the sake of investors let’s hope Laidlaw can withstand the scrutiny their prior press releases are about to get.
Welcome Laidlaw to the City that refuses to be victimized yet again by greed cloaked in the guise of being Berlin’s “savior”.
Casa, your statement that Laidlaw is a “sure shot investment” leads me to agree with you that you may indeed need to do more dd. I base this on your statement “the wind power company that you support”
May I suggest you begin with some very basic dd, like:
Where have I ever stated I support any wind company?
Where have I ever stated I was anti LLEG?
GLTY in your “investment”.
I could not say it any better.
Today's The Berlin Daily Sun's front page article "Council hires legal counsel to fight Laidlaw plant" I believe is a bit misleading. Yes, the City did hire legal counsel, but I'm not sure it's to "fight" Laidlaw as much as it is to make sure that the various issues that would impact the City if the Laidlaw project moves forward, receives the attention it deserves. When the State in its infinite wisdom decided to take the right of self determination away from communities if a power plant was over 30MW, it put in place a committee and a process (Site Evaluation Committee) to scrutinize the developers and their large projects. The lawyer hired by the City will be the person representing Berlin during this permitting process/hearings. I'm of the opinion that the decision to seek professional representation was the responsible thing to do and that the choice of lawyer was the result of a long debate by Mayor & Council. If Berlin really wanted to "fight" Laidlaw it could have followed a very different path, including taking the property by eminent domain. Of course, we could have avoided all of these unpleasant and costly actions if the previous administration had become involved early on when Fraser announced the sale or, when NADC purchased the mill property with no intention of doing anything with it, except demolition. But no, City Hall sat on its collective hands and ignorantly pronounced that, it was "private property". I hope that the citizens of Berlin remember this fact come November, when some members of the former administration make a grand move to be elected to office in the name of "saving Berlin" by supporting Laidlaw. ...Another action that didn't receive as much headline as the lawyer hire by the City but that might have an equally sobering impact on Laidlaw was the announcement by Clean Power Development that it had retained the services of the Dupont Group. The Dupont Group is one of New Hampshire's premiere government affairs and business consulting firms. The Dupont Group has a proven track record representing energy companies and of having considerable political clout in Concord. If push comes to shove between the Laidlaw and Clean Power projects, I see the Dupont Group neutralizing whatever political advantage Laidlaw may have with Charlie Bass as a "has been politician". Both the move by the City and by Clean Power puts even more doubt in my mind that the Laidlaw project will ever become reality. For the first time in a long time I feel optimistic that the best interest of Berlin may be served after all.
My thanks to the author.
http://2much2do4now.typepad.com/
Why all the name calling and attacks on Mayor and Council for their decision to work with Laidlaw? I thought that is what you wanted? Now you are upset? Geez you’re a finky bunch. I bet if you ask Bartoszek he will tell you he is ecstatic that everyone is now working together. ;)
http://www.drm.com/attorney/bio/n%3A_jonathanPeress
http://www.drm.com/
Council hires legal counsel to fight Laidlaw plant.
By Barbara Tetreault The Berlin daily Sun.
Berlin-The city council Monday Night voted to hire Attorney N. Jonathon Peress of the Lebanon law firm Down’s, Rachlin, Martin to represent the city when Laidlaw Biopower goes before the state Energy Facilities Site Evaluation Committee for approval to construct and operate a 66-megawatt biomass plant on the former mill site.
A majority of the council opposes Laidlaw’s plan to convert the former chemical recovery boiler into a biomass plant because of the site’s location in the heart of the downtown. The council Monday first formally voted to file as an intervener if and when Laidlaw submits an application to the committee. The body then discussed whether to go with the city’s law firm, Donahue, Tucker & Ciandella to represent it or hire Peress. Councilor Tom McCue made a motion to hire Peress. Peress quoted the city an hourly rate of $295. His legal services proposal said he would expect one associate to also be involved at an hourly rate between $195 and $225 an hour. Councilor Mark Evans urged the council to hire the city’s legal firm at an hourly rate of $150 per hour for attorney time and $90 an hour for paralegal time. Councilor Ron Goudreau, however noted the quote from the city’s firm contained stipulations that it would be paid a bonus amount per hour if the firm were to successful in defeating the application or achieved specific objectives. Goudreau said that would make the two quotes close in cost. The council has increased the legal line in its proposed 2010 city budget to cover the anticipated cost of hiring legal counsel for the SEC process. McCue stressed the decision to go with Peress did not indicate any dissatisfaction with the city’s legal firm. He said the Site Evaluation Committee is a specialty area and noted Peress is very experienced in that field of expertise.
Androscoggin Valley Economic Development Director Max Makaitis offered to form a local committee with representatives from the city and Laidlaw to come up with a set of draft stipulations on issues such as traffic, noise, and visual impact that could serve as a framework for the lawyers. He said it was a way to reduce costs. Mayor David Bertrand said he thought the idea had some merit but said he thought the process precluded it.
According to the firm’s web page, Peress was formerly the attorney for air quality issues, and later the chief counsel for administrative litigation in Vermont’s Agency of Natural Resources. He is described as having extensive experience representing electric generation and industrial facilities on environmental permitting and compliance matters. He has counseled electric generating facilities, renewable energy providers and industry trade groups regarding climate change initiatives and opportunities for monetizing greenhouse gas reductions. Laidlaw is expected to file an application with the site evaluation committee before the end of the year. Under statute, the committee has nine months to render its decision. Last week, the Coos County commissioners revealed the commission is considering intervening in support of the Laidlaw proposal.
http://www.laconiadailysun.com/BerlinPDF/2009/5/20B.pdf
That’s your call Bad. Surely you also advocate that we make decisions based on our own dd. The function of this forum is to bring all information to light and let individuals form their own opinion. I do believe ignorance spreads lies. I can appreciate that some who are loaded may not like to hear a different perspective. But don’t shoot the messenger. One side of this story has remained constant IMO.