Download e-book for kindle: From Edison to Enron: The Business of Power and What It by Richard Munson

By Richard Munson

ISBN-10: 027598740X

ISBN-13: 9780275987404

Munson (director, Northeast-Midwest Institute, a non-partisan examine middle) provides a historical past of the improvement of the U.S. electrical energy undefined, tracing its improvement from the founding of the Edison electrical Illuminating corporation to the present country of the electrical zone, characterised in Munson's view via a centralized and monopolized paradigm that limits innovation, entrepreneurship, and potency. In telling the economic restructurings, technological suggestions, company actions, and political battles that experience characterised the facility industry's a hundred yr improvement, it appears Munson's basic target is to attract classes acceptable to the legislation and constitution of contemporary strength undefined, which he believes is short of ''innovation-based restructuring.''

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Extra resources for From Edison to Enron: The Business of Power and What It Means for the Future of Electricity

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Villard, however, favored a consolidation in order to eliminate the sixty patent battles then in the courts and to obtain access to Thornson-Houston's AC lighting systems. Although Thomson-Houston's EARLY COMPETITION 27 -. Charles Coffin was wllling to negotiate, such a merger would not occur without the support of Wall Street's major banker, J. ' Morgan, who in February 1891 could see no gain from a consolidation. A year later, however, Morgan changed his mind. While Edison thrived on competition, Morgan felt too much battling among companies was "ruinous" and resulted in low profits.

The effect was staggering-on wide-eyed exposition participants as well as skeptical engineers-when President Grover Cleveland pushed a button and caused the fairgrounds to burst into light. Cannons blared, an orchestra and choir performed Handel's "Hallelujah Chorus," and elaborate fountains shot water a hundred feet into the air. Noting that electricity powered far more than lamps, the fair's chief electrician boasted, "The Columbian Exposition is a magnificent triumph of the age of electricity .

Louis post office, the New York State Capitol building, and the Pennsylvania Railroad's eight Hudson River ferries. Samuel Insull developed a different vision. Edison's personal assistant had spent several years convincing communities around the- country to build centralized power plants that employed Edison equipment. Before J. F? Morgan grabbed control of Edison's company, Insull lined up contracts in Harrisburg, Pennsylvania; Newburgh, New York; Tiffin, Ohio; and two . dozen other towns. He recognized a marketing potential.

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From Edison to Enron: The Business of Power and What It Means for the Future of Electricity by Richard Munson

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