pseg/exelon merger...our benefits

[friendingeneration]

looks like unions and our benefits will be dashed by mergers..with a 30 yrs at pseg and pending merger and mitigation of generation we will be out on a limb....no one has any benefit security....WHERE IS THE UNION LEADERSHIP ?

[Racer X]

Soon the PSEG employees will suffer from the wrath of "The Exelon Way"

What chance does a union have against a multi, multi-billion dollar corporate monster. They will exhaust all of the union's resources just for fun. :mad:

http:www.exelonreporter.com

[just say no]

same place our union leadership went at fpl the past 4-5 contracts......m.i.a...

[Dave@PSE&G]

I've been at PS for only seven years, have no traditional pension, no retirement health insurance, union dues rise constantly (seems to be the only time you hear from them) and management has become an extreme pain in the ass. AND IT'S GONNA GET WORSE??? I should've stayed in college!! :confused:
CAN'T ANYONE PLEASE TELL ME 1 GOOD THING ABOUT EXELON??

[liledgy]

they match 6% of your pay including overtime at 80 cents on the dollar. The pension blows , in 1994 the union allowed them to base it on your base pay not your gross income. The rest is history forced overtime everyday, some hands had over 2600 OT hours in a year, most are between 1500 and 1800. The co. is getting away with murder, why should they hire lineman and pay another pension and medical when they don,t have to. Oh, by the way I quit last year after 23 years. Making less money on the outside put I have my life back, priceless!

[hillbilloutcast70]

Municipalities in Tenn look out Elizabethton Electric System which is owned by the city of Elizabethton has refused to honor union contracts,which we have had since 1945. The state of tennessee says its illegal for municipalities to have contracts with labor unions. The TVA says as long as the money is kept seperate there was nothing they could do. Meanwhile no raises in 3 yrs, in one year health insurance for family has gone from $40.00 a month to $600.00 a month. overtime rates changed. They change our retirement. We got a lawyer. the had to give it back . Now they are going to stop it go to a different one, which will leave a lot of old timers in the cold. All the other muncs. in the state are watching to see what happens so get ready for it, because the state nor the union will do anything to help you.

[robnitro]

Any update about the merger? I am looking to get into PSE&G as an apprentice and wonder if its even worth it with the merger with exelon.

[just say no]

any young person who wants to become a lineman these days should get there head examined...............

[CenterPointEX]

It is all about the Utilities being fleeced by corperate raiders who are preying on healthy Companies that were made fat operating under REGULATION by Public Utilities Comissions and the like... The reason they don't staff up to demand is because they are not in it for the long haul. In order to keep the shell game going as long as possible, they must work the existing lineman till they drop... They are not concerned about employee retention... they are not concerned about the future or the company... They are concerned about keeping the cash flow going until every last penny is milked out of they nations electrical infrastructure... They have had fire sales on generating Units... B.S... They sell the undervalued generators to companies in which they have a stake in... They then turn around and sell the Units for what they are worth pocketing the money stolen from rate payers who over the years were forced thru unility bills to invest into the system. Check the recent sale of Texas Genco spilt off from Houston Lighting & Power / Reliant / Center Point Energy to NRG... In this deal alone four billion dollars was stolen from the citizens of south texas... It is not just generators they are selling... They are liquidating properties and equipment also... This ain't no Bull ****... CenterPoint has been in off and on secret negotiations to sell some of their Service Center Properties... Because they have high values... and They have to liquidate the properties in order to move the funds off campus... The Bellaire Service Center Chief among them...

..... .. . We have got to start putting pressure on our elected officials... This message must get out to the public before it is too late... The Public does not know this is going on... all they know is they turn on the lights and walla! But if you do the research you will see that outage times are climbing all across the country... California has gone into shock... The rest of the Nation will soon follow... Until America wakes up and smells the coffee... then begins to get grip on this situation... Lineman working for Utilities will be driven til they drop... cause the corperate raiders know the meat and potatoes of this industry are the Lineman... When those boys no longer answer the phone... the gig is up.. A.K.A Enronanomics 101 In order to plug the Dike, they have been putting contractors in IOU Uniforms... It don't cost anything to fill some shoes with a contractor... And when the gig is up... it don't cost anything to get rid of the contractor...

[robnitro]

any young person who wants to become a lineman these days should get there head examined...............

LOL, I was more looking to get into apprentice substation electrician or apprentice meter tech. The heights thing doesn't scare me, but working up there with that power takes skill AND luck! If it was comm. work, I'd be much less hesitant to climb though.

[Dave@PSE&G]

It is all about the Utilities being fleeced by corperate raiders who are preying on healthy Companies that were made fat operating under REGULATION by Public Utilities Comissions and the like... The reason they don't staff up to demand is because they are not in it for the long haul. In order to keep the shell game going as long as possible, they must work the existing lineman till they drop... They are not concerned about employee retention... they are not concerned about the future or the company... They are concerned about keeping the cash flow going until every last penny is milked out of they nations electrical infrastructure... They have had fire sales on generating Units... B.S... They sell the undervalued generators to companies in which they have a stake in... They then turn around and sell the Units for what they are worth pocketing the money stolen from rate payers who over the years were forced thru unility bills to invest into the system. Check the recent sale of Texas Genco spilt off from Houston Lighting & Power / Reliant / Center Point Energy to NRG... In this deal alone four billion dollars was stolen from the citizens of south texas... It is not just generators they are selling... They are liquidating properties and equipment also... This ain't no Bull ****... CenterPoint has been in off and on secret negotiations to sell some of their Service Center Properties... Because they have high values... and They have to liquidate the properties in order to move the funds off campus... The Bellaire Service Center Chief among them...


CenterPoint,
It's funny that you mention this. A week ago, the Dept of Justice ok'd the merger providing they sell off some generation plants in NJ. Not a tremendous amount of output, but plenty of union jobs just the same. Exelon kicked and screamed about selling off some nukes, and the Feds eventually caved in. I'm sad to say that there is only one last hurdle for the monster to clear: The NJ Board of Public Utilities. There is plenty of opposition from consumer advocate groups here, but I've got a bad feeling about it. I think it's just a matter of time before the BPU caves as well. Jim Ferland should be ashamed of himself for putting PSE&G on the block in the first place. I guess it's not about the consumers, it's all about Rowe and Ferland getting theirs. I can't stand these 2 pompous a-holes!! I'll stop now before I begin to spew serious venom about these 2 pieces of ...!!

[just say no]

these c.e.o's care about one thing and one thing only $$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$ $$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$ $$$$$...they could'nt care less about any working man period......so get out the lube...if there kind enough to let you put it on....

[BULLET]

looks like unions and our benefits will be dashed by mergers..with a 30 yrs at pseg and pending merger and mitigation of generation we will be out on a limb....no one has any benefit security....WHERE IS THE UNION LEADERSHIP ?


YOU GAVE UP YOUR RIGHTS WHEN YOU LET THE UNION AND THE COMPANY GIVE UP THE PENSION FOR THE NEW EMPLOYEES COMING INTO THE COMPANY. :rolleyes:

[Dave@PSE&G]

The 2 companies have put out a joint statement claiming that they've made their "last and best" offer to the NJ Board Of Public Utilities (the last hurdle), threatening to cancel the whole party if they don't get a yes answer within a week or so (actually, Exelon's board will go as far as 8/21/06). My question is: Is this a line of crap? Could this actuall be the end of this nightmare? I am constantly reading posts on this site claiming that Exelon is full of ****, saying 1 thing and doing another, etc. I'd love to see it implode, considering all the horror stories I read about on this site. Anyone have any thoughts on this?

[troubleshooter]

looks like the NJ BPU came up with a counter offer...they finally gave in! well, hold on, looks like we are in for a bumpy ride!

[Dave@PSE&G]

looks like the NJ BPU came up with a counter offer...they finally gave in! well, hold on, looks like we are in for a bumpy ride!

True, but they did ask for MUCH more than Exelon's "last and best offer". They may not bite because they would have to lose more generation. Stay tuned...

[troubleshooter]

hey lets pray this thing doesn't go through!

[Dave@PSE&G]

Have any PS employees heard anything? There has been no reponse to the BPU's counter-offer. I guess we'll just have to watch for massive amounts of stock being dumped to clue us in to an implosion.

[Stanman, at ComEdy Il.]

Doesn't look real good for the merger. But you never can tell?

[shocker]

well hopefully when it doesnt go through and
rowe fails for second time at an acquistion the stock holders will wake up and rid us of this corp. raider for good.hes made plenty im sure he will get by somehow.

[Jerzzee@PSEG]

dropping today. Company is trying to do damage control after the blurb in the Ledger. This acquisition is the worst thing that could happen if it goes through which I don't think it will. I heard a rumor that Ferland dumped some stock last week.

[TIRED OF IT]

keepin our fingers crossed they go away thank god for the bpu.everyone else including our so called union bent over backwords for these scumbags.now were stuck with a six yr contract that we could`ve done better on if our feerless union president wasn`t so scared of excelon. if it goes through you generation boys can thank your good generation buddy chip for putting you on unemployment.some of us wanted to fight, most of us laid down, we get what we get! let excelon take our union back to chicago with them. local 94 should be under a trusteeship

[Racer X]

It gets worse everyday at Exelon. Just when you think it can't it does. I hope for the sake of other employees they don't "aquire" you.

http://www.comedreporter.com/mkportal/modules/gallery/album/a_173.jpg

[Dave@PSE&G]

Man, Exelon sure has a lot of friends on this site. Great cartoons everyone. I print them all and hang them on the bulletin board in our shop right outside the supervisor's office. They don't stay up long,though. I wonder why...

p.s.- Has anyone heard anything yet? It is so quiet it's scary.

[Jerzzee@PSEG]

This was posted on the UWUA web site:

"Health and Safety -

The Health,Safety and Wellness of all members is the most important to us. The Executive Board has asked all Chairpersons and team members not to attend state meetings surrounding Health and Safety, at this time. All Health and Safety programs will continue at the locations. This was a difficult decision for us, as we are aware of H&S, importance. This decision was made due to a Managers threats of discipline or discharge to Local NIC Councils, these actions will not be tolerated!!. Stay safe and healthy, this too shall pass, working together for the same goals of unity for all."

Aside from the fact that ALL the Unions seemed to lay down and play dead for this acquisition, I think that they are slowly losing their toehold with the company.

[Dave@PSE&G]

That's something new. All along, while supervision bought into Exelon's bull**** company line, Health & Safety NEVER took a back seat!! Exactly what union isthat anyway? I'm familiar with the UA and IBEW, but I don't recognize that acronym. Besides, what kind of repercussions can management inflict for working safely? Screw them, call their bluff. If anything happens, grieve it. Jerz, what shop do you work out of? Send me a PM if you don't want to broadcast it. -- Dave

[Jerzzee@PSEG]

Utility Workers Union. It's not the working safely it's attending the State Health & Safety meetings that's being met with threats of discipline and discharge. I suppose because it's on Company time so they are now throwing a fit. This all stinks to me. I've been through takeovers before although not with a company this big. There is definitely something going on. You have to think if the "merger" does not go through, what happens to the nuke plants that exelon is already running?

[Dave@PSE&G]

From what I have heard, Exelon will remain in control of the nuke plants if the merger fails. They were sold to Exelon because there were "operations problems". What the f@#$ does that mean? I can't believe that PS couldn't find capable people to run/operate the plants. I know this is gonna make people cringe, but if the employees in there couldn't do the job, they should have been replaced with people who could. Let them sweep floors or something. It probably isn't in anyone's best interest to let a nuclear power plant to be run by a "Homer Simpson". But in all fairness, I can't say for sure that there were as many problems as we would be led to believe. Maybe it was just an excuse to get Exelon in the picture. So before I get bombed by the guys in the plant, please remember that I am basing my comments solely on what I had heard. No disrespect was intended.

[Jerzzee@PSEG]

that the reason for the "merger" to begin with was the nuke plants. Exelon has the expertise in the nuclear area and wanted those plants but had to take the whole enchilada so to speak. Now, Exelon has been running the plants since January I think, but they don't "own" the plants until (if) the merger closes. So if the merger falls through (keeping fingers crossed), will Exelon continue to run the nuke plants or will they turn them back over to PSEG? I have my sister-in-laws sister working there and she said it is not a comfortable place to be since Exelon came in.

[Dave@PSE&G]

Jerz,I may be wrong about it, but I thought they had already bought them, or at least the operating rights. It is impossible to find anything out around here lately. Maybe a few cigarette burns to Ferland's feet might get a straight answer out of him. I do hope this thing fails, but it is TOO quiet. A lot of money has been spent on their "atta-boy" parades and parties. I would assume that it would be no problem writing the loss off considering that PS wrote off $600million with the Argentina power plant debacle. Who knows? Anyway, let's hope for the best, tell your sister-in-laws sister to hang in there. I understand why she's uncomfortable, especially since I started reading the posts on this site. -- Dave

[Jerzzee@PSEG]

at the BPU yesterday at 10am w/exelon & PS. I was expecting something in the paper today, usually the Ledger, but so far no go. Not even Reuters has anything. You're right about it being way too quiet. Not to mention management is being ****tier than usual. We have jobs that aren't being filled because there is talk about adding a 2nd shift, but the union hasn't signed off on that yet. It's like waiting for a bomb to explode, you know it will, you just don't know when.

[CHICAGO HAND.]

Exelon drops planned $16B takeover of PSEG
(AP) — Exelon Corp. said Thursday it has dropped its planned $16-billion takeover of New Jersey's Public Service Enterprise Group Inc. (PSEG), after the companies couldn't overcome regulatory obstacles.

The deal, agreed to in December 2004, had languished before the New Jersey Board of Public Utilities for more than 19 months.

"We are very disappointed that the merger cannot be completed," said John W. Rowe, chairman, president and chief executive of Chicago-based Exelon.

The deal hit a roadblock in August, when New Jersey regulators raised concerns that the combined company would have too much market power and should provide greater rate relief in New Jersey, where a PSEG subsidiary is the state's largest utility.

Advertisement


Related Article Topics | Related Industry News
Discussions since then among Exelon, Newark, N.J.-based PSEG and the New Jersey Board of Public Utilities did not produce an agreement, said BPU executive director Victor Fortkiewicz.

"A conclusion was reached that that gap could not be bridged," Fortkiewicz said Thursday evening, after the companies announced the merger was off.

Exelon shares closed down 50 cents at $57.77 on the New York Stock Exchange.

Shares of PSEG fell $3.40, or 5.1%, to $62.75 in aftermarket activity, after closing up a penny at $66.15 on the NYSE.

[Jerzzee@PSEG]

Thank you NJ BPU!

[highlineswitcher]

ditto :) :) :D :D

[Dave@PSE&G]

HAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHA HAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHA HAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHA HAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHA HAHAHAHAHAHAHAHAHAHAHAHAHAHAHA!!!! Death to the 800lb gorilla!!

[troubleshooter]

thank you NJBPU...thank you!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

[Orgnizdlbr]

thank you NJBPU...thank you!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!


I dont work for PSE&G, but this is great news for us in Jersey. Dont forget to thank your Union leadership, they have worked hard on this issue....give em some credit...

[Jerzzee@PSEG]

did not "work hard" on this issue at all. They caved early on and backed the merger along with a crappy 6 year contract! I don't know about the other unions within the company but mine really needs to grow a set of you-know-whats and start standing up to the management instead of letting them get away with so much BS.

[Orgnizdlbr]

did not "work hard" on this issue at all. They caved early on and backed the merger along with a crappy 6 year contract! I don't know about the other unions within the company but mine really needs to grow a set of you-know-whats and start standing up to the management instead of letting them get away with so much BS.

Really? When did they cave? Crappy 6 year deal??? Show me a better one at a Utility in the Northeast. You have a six year deal with guaranteed no layoff language, show me a Utility anywhere that has a co. tied up for six years with that kind of language...............

[Jerzzee@PSEG]

only applied if the merger went through. It is not part of the original contract.

They "caved" by supporting the merger in the first place! Exelon is a known Union Buster company and may have taught PSEG a few things about that over the past 20 months.

[Orgnizdlbr]

only applied if the merger went through. It is not part of the original contract.

They "caved" by supporting the merger in the first place! Exelon is a known Union Buster company and may have taught PSEG a few things about that over the past 20 months.

Oh? It's my understanding that the extension is in place whether the merger in consumated or not. Are you telling me that your extension goes away?

[Jerzzee@PSEG]

you mean by extension. There was a "stipulation" agreement between the unions and the company that would go into effect ONLY upon closing of the merger. This stipulation agreement was in return for the unions backing the propsed merger. It was in this stipulation agreement ONLY that there were to be no forced layoffs and since the merger is a dead deal, the stipulation agreement is void.

[highlineswitcher]

you got the part correct about the lay-off clause . but the part about the union youre way off , the union will not publicly endorse or oppose the merger is what the contract read . now Iam not saying it was a great contract but do you really think it was that bad?

[Jerzzee@PSEG]

we STILL don't have our new contract books. As usual, they keep getting delayed. However, this is the stipulation agreement from the union website (remember there are 3 different unions within PS):

The signatory parties agree that the purpose and intent of this stipulation is to protect every covered employee from a forced lay off for any business reason. If the job function of an existing covered employee is eliminated for any reason, the covered employee shall be placed in a comparable job and with the same terms and conditions, including salary, of employment, or provided a voluntary separation.

"Favored nation" status with respect to agreement reached by the Company with IBEW Local 94, U.A. Local 855 and OPEIU Local 153 in which those Unions agree to support the merger.

The Union agrees to support the merger, including filing written testimony with the BPU in support of the merger, providing positive testimony.

There will not be a forced layoff during the term of the current Collective Bargaining Agreement. Every employee represented by the Union who is employed by the Company immediately prior to the merger will retain employment with the merged company, retain a job with the purchaser, or voluntarily leave the Company. It is also understood that the Company and the Union retain their rights to enforce the provisions of the Collective Bargaining Agreement, including rights with respect to discipline, including discharge.

This Agreement as well as all provisions of the Collective Bargaining Agreement shall be binding upon the successors and assigns of PSE&G and Exelon and any purchasers of assets of either, to the extent that such purchases include the transfer of employees to a new employer.

The Company will maintain a minimum number of represented positions (full and part time) within New Jersey as follows:

Present through December 31, 2007: 1250

January 1, 2008 - December 31, 2008: 1200

January 1, 2009 – December 31, 2009: 1150

January 1, 2010 – April 30, 2001: 1050

The foregoing reflects minimum (not Maximum) numbers and shall not apply to reductions that result exclusively from the implementation of automatic meter reading.

Subject to no layoffs or downgrades due to contracting, it is understood that this agreement does not impact the Company's current management rights with regard to contracting. The Company will discuss the matter of contracting with the Local Union in advance of any bids being offered.

Any voluntary separation program offered to bargaining unit employees will be negotiated with the Union prior to being offered to employees. In the event that separation allowance is offered to UWUA represented employees as a result of the merger, the separation allowance offered will be consistent with the provisions of the Collective Bargaining Agreement or that allowance offered at the time by the Company to other similarly situated bargaining unit employee that is greater, if one exits.

Effective upon the date of PSEG/Exelon closing, and for three years, employees permanently transferred more than thirty-five miles due to office consolidations, relocation or closing will have the option of both accepting the transfer or being laid off and receiving separation allowance. No mileage expense will paid for days that employees are absent from work. This does not apply to transfers that result from employees bidding on vacant positions.

In the event of consolidation of two or more existing PSEG work locations directly related to the merger, the new work location will be located within PSE&G’s existing franchise territory.

At the Union's request, the Company will consider the Union's desire to compete to perform new Customer Services related work to be performed within the existing PSE&G service territory.

The company will make a good faith effort to relocate a dual service (customer service and cashiering) customer service center in the City of Elizabeth on commercially reasonable terms.

The Collective Bargaining Agreement will be the source document for any contractual issues.

The Company will increase from $300.00 to $500.00 per year its allocation for each Benefits 2000 participant from the year in which 5 years of service (or is at least age 55) is attained until retirement (at least age 55 with 5 years of service).

The Company will provide a Pension Equity Adjustment as follows:

Present through April 30, 2006: 0%

May 1, 2006 – April 30, 2007 0%

May 1, 2007 - April 30, 2008 7%

May 1, 2008 - April 30, 2009 7%

May 1, 2009 - April 30, 2010 7%

May 1, 2010 - April 30, 2011 0%





Your Executive Board



When a decision to merge with Exelon is made, then and only then will this agreement become affective.

[highlineswitcher]

interesting ............. I wonder if it says anything about about what happens if the merger did not go through. I will try to read through the book .. when we get ours .........

[troubleshooter]

i work out of southern and we got ours contract books.

[highlineswitcher]

yeah got mine too basically had to BEG ON MY HANDS AND KNEES for one shop stewart only had 8 BOXES left .... dont open it all the way so as to crease the binder pages fall out ... did not get chance to read it all yet.

[highlineswitcher]

:eek: NEW YORK — Public Service Enterprise Group Inc. is considering the sale of its regulated utility subsidiary after opposition from New Jersey caused the company to abandon its merger with Exelon Corp., PSEG's chief executive said Wednesday.

Speaking on a conference call with investors and analysts, Chief Executive E. James Ferland said he was giving "serious thought" to separating the businesses.

"A company's strategic direction can't be dictated by regulators," he said.

Ferland said he was fairly certain that New Jersey couldn't prevent PSEG from selling its utility, PSE&G, which is the state's largest with 2.1 million electric customers and 1.7 million gas customers.

PSEG expects nearly all of its earnings growth to come from its non-regulated power generation business, which includes three nuclear plants and several coal-burning located in the mid-Atlantic region. Executives said Wednesday that high power prices in the region will boost the profits of these plants.

Last week, PSEG and Exelon decided to abandon their planned merger after concluding that the concessions sought by the New Jersey Board of Public Utilities were too high. Ferland said that despite the company's clash with New Jersey over the merger, relations with state regulators were still strong.

"We remain hopeful that we're going to get fair treatment over there," he said.

Yet Ferland also acknowledged that high power prices, which are expected to propel PSEG's earnings over the next three years, increase tension with regulators.

"Having an environment of increasing energy prices doesn't help on the regulatory front," he said.

New Jersey holds an auction every year where suppliers bid to provide electricity to the state's utilities at a certain price. Since New Jersey first began holding the auctions in 2003, the winning price has jumped from around $50 for each megawatt generated per hour, to $104.2 per megawatt hour in this year's auction held in February. Customers won't shoulder the full burden of these prices _ at least not immediately _ as the price that consumers will pay starting in June is actually an average of the winning prices from the last three auctions.

It's unclear who would buy PSE&G. Infrastructure funds have recently scoured the U.S. looking to invest in electric utilities, which they view as stable, long-term generators of cash. The largest of these funds, the Australian firm Macquarie Infrastructure Group, recently purchased the utility Duquesne Light Holdings for $1.59 billion.

Wall Street has expressed concern about PSEG's future without Exelon, particularly the performance of its nuclear power plants and how quickly the company can rebuild its work force after over 900 employees left as the merger seemed to loom. Ferland sought to calm these worries Wednesday, saying PSEG was considering several options to keep its nuclear plants running well. He also said the company wouldn't need to rehire all the lost employees.

"While we've got some replacement to do, it's clearly all manageable," he said. "I don't expect us to add anything like 950 employees back to the company payroll."

PSEG's shares fell 10 cents to close at $61.40 Wednesday on the New York Stock Exchange.

[Jerzzee@PSEG]

that there will be MORE job cuts. Specifically, someone supposedly overheard at yesterdays managers meeting that they will eliminate all the part-time positions after the new year.

My opinion, a lot of these managers need to be eliminated/replaced. We've already been doing more with less and people are grumbling all over the place. The fuse has been lit, it's just a question of how short it is.

[Cedar spider]

I was in Camden N.J. sightseeing the Battleship New Jersey a few days before the announcement of the merger not going through when I spotted a PSE&G customer service office. I said to my wife that the workers there won't have a job much longer if the exelon/PSEG merger happens. (Our customer service offices are all closed now, their being one of the first casualties of exelon). What a good deal for all of you that work there that the deal failed. At ComEd the morale is so low that you are constantly stepping on it. And J. Rowe thinks everyone is happy here. Bull****.

[Dave@PSE&G]

Spiderman,
You are 100% right about that!! Now that the deal is off, and the smoke is clearing, we hear all kinds of crazy **** that would have went down. I don't know of anyone losing any sleep over it not coming to be. I read today that the IL House of Representitives passed an electricity rate freeze, and the 2 utilities are talking about bankruptcy and job cut's. How bad is it out there?

[CHICAGO HAND.]

Battle over rate increase heats up
Consumer interest group 'front group for ComEd'
By Chuck Goudie
October 18, 2006 - The battle over the ComEd rate increase is heating up. Two top Illinois officials want some answers from ComEd. State Attorney General Lisa Madigan and Lieutenant Governor Pat Quinn are both trying to short-circuit the big rate increase for the electric power utility.

Related Links
Watch the video
Quinn is asking for emergency hearings into ComEd's relationship with a so-called consumer interest group that is backing the utility. Madigan says the multi-million dollar salaries paid to ComEd executives are a conflict of interest. ABC7 investigative reporter Chuck Goudie has exclusive details in this Intelligence Report.
Edison wants to charge about 25 percent more every time we switch on a light or run appliances. The huge rate increase comes at a time when huge executive paychecks paid to ComEd officials are raising questions about whether higher consumer rates will merely feed even higher salaries.

A TV commercial is featured on the website of an organization called CORE, Consumers Organized for Reliable Electricity. The group's aim is to promote the interest of electricity consumers. But, a spokeswoman for CORE admits, they are joined at the hip with an unlikely partner, ComEd.


"A large portion of it is funded by Commonwealth Edison -- I can't tell you how much," said Avis LaVelle, CORE media liaison.

Not only is CORE funded by ComEd, the I-Team has learned that CORE is actually a registered state of Illinois lobbyist, according to secretary of state records lobbyist registration records, the Consumers Organized for Reliable Electricity has one client, ComEd.

"There is something wrong if we are going to allow this one company with highly paid executives to raise the electric rates," said Quinn.

Over the weekend, Lt. Governor Pat Quinn raised his voice against ComEd compensating its top five executives nearly $47 million a year.

Quinn is raising the stakes in a letter to Illinois Commerce Commission Chairman Charles Box. The lieutenant governor is asking for emergency public hearings on Edison's executive compensation policy and on the so-called consumer interest group, CORE, that Quinn states "is acting solely in the financial interests of ComEd."

Attorney General Madigan said Wednesday that CORE is "a front group for ComEd" and that CORE has not registered with her office as is required by law for a non-profit organization.

Madigan says ComEd executives have a personal financial incentive to buy the most expensive electricity, because the more money ComEd brings in, the higher the stock option from parent company Exelon.

http://abclocal.go.com/wls/story?se...ive&id=4673977#



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Chuck Goudie, Chief Investigative Reporter, ABC 7 News
__________________
While we are always willing to negotiate as equals, the era of union busting, contract trashing, and strike breaking is at an end. Today, we say that when you pick a fight with any of us, you pick a fight with all of us! And that when you push us, we will push back!

[Dave@PSE&G]

Geez, these guys are really ****ed up. I'm certainly glad the merger failed, now that it's obvious that PS would have been stripped clean and left for dead on the side of the road.

[CHICAGO HAND.]

Rowe Wont Leave You Dead On The Side Of The Road He Would Bring You Back To The Office And Put You In His Egyptian Coffin He Had In His Office.