It is truly stupid from our point of view, but if they could not use an external power supply that has its own separate UL approval (a hassle faced by another company that specializes in power supplies), they probably would have to charge another hundred dollars for the set. Also, this lets them use the same chassis with different line voltages without having to have an internal supply that can deal with all line voltages. Again, retail pricing is lower as a result.

Cut the power cord and you void the UL approval on the power supply. If there is a problem with the set, or God Forbid, a fire, your ass is then in deep.

I commiserate, though: every plasma I have ever seen has come with an eight foot power cord. Good installers put outlets behind the plasmas. Bad installers run these cords, illegally, through the walls down to outlets. I would bet the plasma manufacturers will be made to share liability some day for supplying such a long power cord, implying that it should be run through the wall...because we are litigious.