AECL bidder backs out

[bananas]

Source: CBC

The Conservative government’s efforts to sell off Canada’s nuclear power agency secretly collapsed this week after the most likely buyer walked away from the negotiating table.

The government has spent almost two years trying to sell the commercial divisions of Atomic Energy of Canada Ltd. (AECL) that build and maintain nuclear power reactors.

But the agency hasn’t made a reactor sale in more than a decade and the breakdown of talks to sell off AECL leaves taxpayers on the hook for the Crown corporation that last year ran up more than $800 million in red ink.

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Finally, AECL earned an international black eye from the roughly $600 million it wasted building two new medical-isotope reactors that don't work, and likely will never be put into operation.

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Read more: http://www.cbc.ca/canada/story/2011/01/14/can-aecl-sale-bruce.html