The state report on the Queens blackout of 2006 is set to be released. ^[1]
While Con Ed receives the blame for letting the power grid in Queens grow into disrepair, the report notes that the state let deregulation cause the Public Service Commission to be understaffed and incapable of monitoring for problems such as this.
Con Ed has since increased its budget to repairing the power grid in Queens (and apparently the rest of the boroughs; I was told Manhattan was mostly completed long ago).
How does something like this happen from a Fortune 500 company? How can record profits not translate into maintaining standard – not even exceptional! – quality of service?

(I realize the photo is from the big northeastern blackout from a few years ago…but come on. It’s a neato pic, right?)
[photo from Snopes.com]