Thursday, January 30, 2014

And who the $@*! is David Berry? (Rock Island Clean Line Energy Financial & Strategy GURU)

While going through the ICC testimonies looking for key statements, it became apparent just how often answers where avoided and deferred to David Berry, the company's finance guru.  Here are just some of the answers given in order to avoid answering a difficult question that  wasn't in Clean Line's scripted answers.  These responses were given by both Michael Skelly (Clean Line Energy Partners President) and Hans Detweiler (RICL's Director of Development), and engineer Wayne Galli. Far and away the most referals to David Berry was from the company's President, Michael Skelly

It's a bit comical.  Why not say "I don't want to answer this question so I will say say "Ask David Berry" and hope by the time he comes around the list will be so large no one asks these pertinent questions again,"  Now I know the best response to a no-response when asked by the press is "I am not qualified to answer that question because I am not ...a adjuster..." but the "Ask David Berry" approach was an interesting variation on avoidance. 

 Here's a montage of testimonies referring to David Berry.

Q. Okay. And Mr. Berry is who?
1.  A. Dave Berry, who is also here with us today, is the EVP for finance and strategy at Clean Line Energy.

2.  I am not a hundred percent sure; so I will defer to my colleague Dave Berry.

3.  I think it's probably confidential, and David Berry, who will appear later, could give the exact mechanics of that.

4.  Again, Dave Berry can walk you through the exact details and the timing and so on, but are they going to walk in this afternoon and buy it? No.   

5.  Well, let me -- there's a bunch of rules around capacity and energy and so on, and if it's okay with you, Dr. Galli or Dave Berry can give you a complete rundown on how all of those things work.

6.  I'm going to defer to David Berry the exact mechanics of this because I don't – I don't recall exactly the -- that particular piece of it.

7.  These would have been prepared either directly by or supervised by Dave Berry.

8. Mr. Berry will know the answer to that question?

9. I also know the answer to the question, but apparently we're going to wait till another date, but Mr. Berry will know it to a  fine level of detail.

10.  I got to think how it works. I know Dave Berry knows this one too.

11.  Questions of finance are better directed to Mr. Skelly as they already were or to witness Dave Berry.

12.   I think it's probably confidential and David Berry, who will appear later, could give the exact mechanics of that.

13   -- though, as Mr. Berry discusses, it is hard to imagine that there would be sufficient non-wind resources in the project's resource area seeking to transport their output to Northern Illinois to justify building the project -- whatever the resource use" -- "whatever resources use the line will be lower cost resources than current or future resources in PJM or those resources will not use the line."

14.   I'm not intimate with our easement documents and guarantees on those documents, I'm  not a bankruptcy attorney so I think I would defer  to Mr. Berry to answer that question.

15.   I would actually refer to Mr. Berry to talk about how those contractual relationships  would work in general but that could be one possibility.

1 comment:

  1. Looks to me like the wrong person is CEO of Clean Line if Skelly doesn't know CL business dealings. And he, Skelly, has an MBA from Harvard? Has anyone verified Skelly's academic accomplishments?