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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED -- Ignore unavailable to you. Want to Upgrade?

To: Dealer who wrote (22377)	12/6/2000 12:12:13 PM
From: Dealer	Read Replies (4) \| Respond to of 65232

GE---Just In--Ordered to pay 490 Mil for the following: GE to Fight Any EPA Order to Clean Up Hudson River NEW YORK (Reuters) - General Electric Co. (NYSE:GE - news) on Wednesday said it would fight any order from the U.S. Environmental Protection Agency that the company clean up toxic chemicals embedded in the mud beneath the upper Hudson River. The New York Times reported that the EPA was expected to announce on Wednesday an order for GE to spend $490 million to remove PCBs (polychlorinated biphenyls) by dredging the river bed. GE factories north of Albany dumped the chemicals into the river over a period of three decades. Until 1977, PCBs were used in the manufacture of transformers, adhesives, high- and low-voltage capacitors, liquid-cooled electric motors and heat-transfer systems. The chemicals are thought to accumulate in fatty tissues of humans and animals exposed to them. GE said it would join with others who believe dredging would devastate the ecosystem of the river and increase the levels of PCBs in the waterway by churning up the chemicals from the river bed. Under the proposed EPA plan, about 2.65 million cubic yards of river-bottom mud, containing an estimated 100,000 pounds of PCBs, would be dredged from the river, the New York Times said.