Consumers Power, writing off part of its...
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Consumers Power, writing off part of its incomplete Midland nuclear- power plant, reported a $364.1-million loss for the fourth quarter of 1985. “Accepting the fact that we could not reasonably expect to recover this portion of our investment in the Midland facilities, writing it off at this time was a prudent financial decision,” said William T. McCormick Jr., Consumers Power chairman and chief executive.
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