Public Relations

1. Local, Local, Local
     Indianapolis had its very own electric power utility for decades, and people liked Indianapolis Power & Light.  Rates were low; while the other large utilities in the state served mostly rural customers, IPL's customer base was the dense Indianapolis metro, and they leveraged efficiencies of scale and Hoosier frugality to deliver reliable power at low rates.  They put one of the city's first radio stations on the air, and followed it up in the late 1950s with the first or second commercial TV station*

     By 1957, IPL was out of the broadcasting business -- and very firmly in the Power & Light business.  They made money for their investors and kept on delivering power to customers at some of the lowest rates in the state, while maintaining and expanding their generating stations.  In 2000 or 2001 (sources differ), international power giant AES bought IPL, and in 2021, they retired the IPL branding in favor of their own name.

     Now AES itself is being snapped up by "a consortium led by BlackRock subsidiary Global Infrastructure Partners and Swedish private equity firm EQT AB [...] for a total enterprise value of $33.7 billion [...]."

     AES has never been quite as well-liked as IPL; rates have gone up and reliability is not quite what it was, at least in part thanks to a growing population and aging infrastructure.  The sale to the consortium is even less popular; recent announcement of public open houses resulted in what are being described as "credible threats" on social media.  Events were rescheduled, and have now been postponed indefinitely.  The goodwill IPL built by being the all but invisible, affordable suppliers of wall-socket juice is gone, just when the company most needs it.  And the state regulator is feeling the heat.

2. National and International
     Meanwhile, I'm hearing an old familiar tune: "Now the President has finally gone too far!  His supporters will turn on him!"

     Gasoline prices are skyrocketing,and stocks are tumbling as I write this, and the surprise-war against Iran is leaving the usual piles of dead and injured in its wake.  I still wouldn't get too excited about the prospects for a man whose public image has already survived a bungled pandemic response, an attempted and ugly coup, two impeachments, felony convictions, civil sexual assault conviction, an unpopularly harsh ramp-up of immigration enforcement and a sprawling sex-crimes scandal, not to mention his own rambling and semi-coherent speechmaking.  While he's shed supporters here and there, the people who love President Trump really, really love him, and by now they have years of practice rationalizing away any negative.  If the economy tanks hard, Donald Trump may yet succeed in Hoovering himself off the national stage just like Herbert did, but A) I would not count on it and B) a hard crash is a lousy thing to wish on your fellow citizens.

     Unlike nearly all of his predecessors, this President can't be steered much by public opinion, especially in this second term, and to the extent that he is, it's by crowd reaction at his events, which are not a balanced cross-section of the American electorate.  I don't know how we and our country are getting out of this -- if we manage to get out at all -- but expecting a miracle is a recipe for disappointment.
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* Supporters of competing WTTV and WRTV (then WFBM) claims to be first are still duking it out -- in May, 1949 IPL's WFBM was inarguably on the air first, but their transmitter promptly failed, and they were still repairing it that November, when WTTV came on and stayed on.  But the joke's on them: in 1944, experimental W9XMT was the first TV station on the air in town, and the Wm. H. Block Co. department store received a license for WWHB in 1947 and got as far as transmitting test patterns before deciding the television business was too iffy for them.