Reply #1: That headline is very misleading [View All]

[stevedeshazer]

Technically, it's true.

The Oregon Public Utilities Commission denied the Texas Pacific Group's bid to purchase PGE.

What's NOT said here is that the deal these Texans proposed ensured them at least $1 billion in profits; their plan involved a leveraged buyout.

All profit-on-paper.

There's a strong movement in Oregon determined to facilitate a public buyout of PGE, either by the City of Portland or the State of Oregon. I think most Oregonians support such a move.

PGE customers pay the highest electricity rates in the region. Numerous small public utility districts around Oregon and Washington deliver power more effectively and cheaper. Even Pacific Power, the next largest private utility here has significantly lower rates.

I've followed PGE's ripoffs for over thirty years. I supported my home town friends who successfully voted to start the Columbia River People's Utility District, and we threw PGE out. Rates are now 15-20% lower than before.

Beware of Texans from Houston with zoot suits and cowboy boots. This deal had Enron stink all over it.

more on Texas Pacific Group: http://www.hoovers.com/texas-pacific-group/--ID__51545--/free-co-factsheet.xhtml