Cuomo Faces Deep Skepticism After Vow To Gut, Rebuild LIPA
By Pete Brush
Law360, New York (November 14, 2012, 8:19 PM ET) -- New York Gov. Andrew Cuomo's threat to execute a "ground-up redesign" of the Long Island Power Authority, potentially by subjecting the $12 billion utility to market forces or other incentives, was met with doubt Wednesday by sources who said the state is at least partially to blame for the disarray that followed Superstorm Sandy.
Their reservations surfaced after the Democratic governor formed a panel to investigate LIPA and help guide the “massive undertaking” of lowering electricity rates and increasing storm readiness for nearly 3 million people in...