Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

Davis names ex-Edison chief to PUC
Sacramento Bee ^ | Wednesday, March 6, 2002 | Stuart Leavenworth

Posted on 03/06/2002 12:01:47 PM PST by Toidylop

Edited on 04/12/2004 5:33:33 PM PDT by Jim Robinson. [history]

Gov. Gray Davis has appointed a former president of Southern California Edison to a state panel charged with regulating Edison and other public utilities.

Davis said Michael R. Peevey would bring "more than three decades of experience" to the Public Utilities Commission -- experience that immediately came under fire from the state's consumer groups.


(Excerpt) Read more at sacbee.com ...


TOPICS: Breaking News; News/Current Events
KEYWORDS: calpowercrisis; calpowergate
Navigation: use the links below to view more comments.
first 1-2021-26 next last
Just give comrade Davis enough rope... :)
1 posted on 03/06/2002 12:01:47 PM PST by Toidylop
[ Post Reply | Private Reply | View Replies]

To: Ernest_at_the_Beach; *calpowercrisis; *calpowergate
Payoff time. Too bad the compliners here did not have enough money for Davis; they might have been listened to.

Edison certainly contributed well.

2 posted on 03/06/2002 12:10:05 PM PST by flamefront
[ Post Reply | Private Reply | To 1 | View Replies]

To: Toidylop;Calpowercrisis;randita;SierraWasp; Carry_Okie; okie01; socal_parrot; snopercod; quimby...
Thanks for posting this!

Calpowercrisis:

To find all articles tagged or indexed using Calpowercrisis, click below:
  click here >>> Calpowercrisis <<< click here  
(To view all FR Bump Lists, click here)



3 posted on 03/06/2002 12:10:45 PM PST by Ernest_at_the_Beach
[ Post Reply | Private Reply | To 1 | View Replies]

To: Toidylop; ernest at the beach; dog gone
tl, thanks for posting this.

I have a feeling that most of Edison's present and past top officers are all card carrying demonicRats and backers of Davis for decades! My memory seems to recall some appointed to the PUC by MoonBeam, Davis's boss at that time, appointed the current CEO of Edison to ruin/run the PUC back in Moonbeam's time!

4 posted on 03/06/2002 12:12:42 PM PST by Grampa Dave
[ Post Reply | Private Reply | To 1 | View Replies]

To: Grampa Dave
Hired by Davis to negotiate with the utility, Peevey reportedly struck a deal with PG&E Chairman Bob Glynn that would have let PG&E charge ratepayers for all its costs of buying wholesale electricity. But other Davis advisers objected to the deal and the negotiations ultimately fell apart.

Lest anyone forget, Governor Davis did not want to allow this utility to cover its own costs, nor would he allow them to enter into long term contracts for power.

And this guy wants another term?

5 posted on 03/06/2002 12:32:52 PM PST by Dog Gone
[ Post Reply | Private Reply | To 4 | View Replies]

To: Dog Gone
Davis = poster boy on what not to do!
6 posted on 03/06/2002 12:39:29 PM PST by Grampa Dave
[ Post Reply | Private Reply | To 5 | View Replies]

To: Toidylop
I just watched Judy Woodruff interview Gray Davis. Unbelievable!! She asked a question about Simon's policy on energy, and Davis answers by saying Simon is anti-choice. This is going to be ugly!

Then she interviewed Simon, and I was impressed! He challenged everything Davis said, in clear, no uncertain terms.

Davis said, Simon "ran a savings and loan into the ground". He also said Simon had no experience managing anything. Simon jumped on that inconsistency. He said, "Davis can't have it both ways.".

Simon said Davis bragged he grew the CA economy from 7th to 5th. Simon said if he did so it was at the expense of having a 10 billion dollar deficit.

Davis is going to have his hands full. He was mean-spirited, accusatory, and on the full frontal attack. Even in California, that's got to look pretty desperate coming the day after the primary.

7 posted on 03/06/2002 12:42:16 PM PST by YaYa123
[ Post Reply | Private Reply | To 1 | View Replies]

To: Dog Gone
"Lest anyone forget, Governor Davis did not want to allow this utility to cover its own costs, nor would he allow them to enter into long term contracts for power.

And this guy wants another term?"

But...but...but...Davis is a "problem solving democrat". I even heard him say so himself on TV last nite.

BTW, where in the hell do guys with names like "Peevey" come from anyway??

8 posted on 03/06/2002 1:27:58 PM PST by kimosabe31
[ Post Reply | Private Reply | To 5 | View Replies]

To: Toidylop
The obvious prediction: Davis knows he's dead and over the next few months we'll be watching him loot what is left of California's spent coffers in any way shape or form possible.
9 posted on 03/06/2002 2:01:14 PM PST by Caipirabob
[ Post Reply | Private Reply | To 1 | View Replies]

To: Toidylop
This is an outrage beyond belief. Davis should go to jail over this appointment. The nerve!
10 posted on 03/06/2002 2:09:51 PM PST by Saundra Duffy
[ Post Reply | Private Reply | To 1 | View Replies]

Donate Here By Secure Server

Or mail checks to:
FreeRepublic, LLC
PO BOX 9771
FRESNO, CA 93794

Send PayPal direct to JimRob@psnw.com

11 posted on 03/06/2002 2:10:58 PM PST by theophilusscribe
[ Post Reply | Private Reply | To 10 | View Replies]

To: Carry_Okie;Robert357
Since 1985, Geesman has been the managing director of fixed income banking for RBC Dain Rauscher Inc. in San Francisco. He once served on TURN's board.

Let's see, we have Bryson - a co-founder of the NRDC - as the CEO of Edison, and now Geesman, a former TURN director in charge of the Cal-ISO, a supposedly "independent" organization.

Incest? Yes.

I want to remind everyone that under FERC rules, the Cal_ISO [as a Regional Transmission Organization] is required to be independent. But as we have seen, under Bush, FERC only enforces rules that are politically correct.

12 posted on 03/06/2002 2:11:27 PM PST by snopercod
[ Post Reply | Private Reply | To 1 | View Replies]

To: Toidylop
"The husband of Assemblywoman Carol Liu, D-South Pasadena, Peevey"

I guess it was a little too early to appoint Chad Condidit....

13 posted on 03/06/2002 2:16:15 PM PST by eureka!
[ Post Reply | Private Reply | To 1 | View Replies]

To: snopercod;Dog Gone
Let's see, we have Bryson - a co-founder of the NRDC - as the CEO of Edison, and now Geesman, a former TURN director in charge of the Cal-ISO, a supposedly "independent" organization.

LOL! Surprise me sum more!

Well DG?

14 posted on 03/06/2002 2:36:59 PM PST by Carry_Okie
[ Post Reply | Private Reply | To 12 | View Replies]

To: Carry_Okie
Well, to be honest, I don't know what to think about this. Superficially, it looks bad because of all the SCE incest.

But then I read where Peevey was ousted by Bryson, so there's no chance that they are buddies. And then he negotiated the deal with PG&E and was undercut by Davis who hired him.

You're far more conspiratorial than I am, so I'd expect you to say this was all scripted. In order for me to go along with that, I'd have to see where Peevey benefitted financially, since he was making many millions of dollars more as head of SCE than he will be in this silly PUC slot.

But something isn't right, because Davis and Peevey shouldn't be on the same page at all.

Do California rules require that PUC members be split along Party lines like FERC is? Is there a chance that Peevey is actually a good guy?

I don't know.

15 posted on 03/06/2002 3:01:42 PM PST by Dog Gone
[ Post Reply | Private Reply | To 14 | View Replies]

To: Toidylop
Gray Davis makes me sick
16 posted on 03/06/2002 3:03:58 PM PST by Dengar01
[ Post Reply | Private Reply | To 1 | View Replies]

To: Dog Gone
You're far more conspiratorial than I am, so I'd expect you to say this was all scripted.

Scripted? No.
Opportunistic? Yes.
The money loop? The real winners?

You expect that to be transparent?
After what we saw at Enron?

Are there such "winners"?
Davis needs money. Why wouldn't there be?

17 posted on 03/06/2002 3:23:18 PM PST by Carry_Okie
[ Post Reply | Private Reply | To 15 | View Replies]

To: Toidylop; Ernest_at_the_beach
Peevy's appointment was one of two Davis made Tuesday. He also appointed John L. Geesman to the board of the Independent System Operator, which manages most of the state power grid.

Since 1985, Geesman has been the managing director of fixed income banking for RBC Dain Rauscher Inc. in San Francisco. He once served on TURN's board.

OK CPUC gets a former PG&E Executive and ISO gets a investment banker.....I wonder who wants to try to put a good foot forward with the investment banking community on power bonds. I wonder what kind of other appointments are in the works? I wonder if there will even be some statements about California always paying its lawful debts and never trying to avoid that. I think the power bond pressure is on!

18 posted on 03/06/2002 7:13:15 PM PST by Robert357
[ Post Reply | Private Reply | To 1 | View Replies]

To: Carry_Okie;robert357
Carry_Okie Are you thinking that Peevey and Geesman are contributing to Davis campaign heavily and are being rewarded by these appointments?

Or is he responding to pressure from potential Bond buyers and placing people that they suggest on these key boards as I guess Robert357 is suggesting! Obviously there is some kind of political calculus going on!

19 posted on 03/06/2002 8:21:29 PM PST by Ernest_at_the_Beach
[ Post Reply | Private Reply | To 17 | View Replies]

To: Ernest_at_the_Beach
Carry_Okie Are you thinking that Peevey and Geesman are contributing to Davis campaign heavily and are being rewarded by these appointments?

No. That's too obvious even for Grubbinerr Goofblob. I am musing that perhaps someone has something to gain by having Peevey and Geesman there and that whatever substantive compensation these folks derive is probably ensconsed on Grand Cayman.

Or is he responding to pressure from potential Bond buyers and placing people that they suggest on these key boards as I guess Robert357 is suggesting! Obviously there is some kind of political calculus going on!

There never isn't, in the case of Gray Davis. Think of the Third Whirled debt game. Guaranteed debt at high prices. The traders make out. The underwriters make out. Even if there is a default they just roll it over and start again at higher rates, and perhaps flushing some complicit and bag-holding dependent suckers' money while the traders and Wall Street biggies "magically" escape (CalPERS comes to mind as a complicit chump). The underlying premise is that Davis doesn't do anything that isn't for campaign money. He has a LOT of it. Why should such a glaring "incompetent" get that kind of funding if he couldn't deliver, if only by "virtue" of the predictability of his idiotic behavior?

Davis is the total control freak. Everything he has done, without exception (as DG reminded us the other day), has cost us more than if he had just left things alone. It is impossible (in my opinion) for a complete incompetent to screw up that often without being right at least occasionally (constructive errors). That extra money went somewhere and it wasn't the utilities (whose value is in being able to collect the bills at the penalty of cutting the power). It is entirely possible that Wall Street is more than willing to sacrifice SCE for their (Davis & Bryson, et al.) complicit role in making them money in bonds at the expense of unwitting shareholders. That would fit Bryson's historic MO quite nicely. Certainly he is no fool. How much would the necessary sacrificial SCE grub stake cost to get Bryson in there to do his bit compared to the cash made on natural gas sales and debt service on prices inflated by Davis carefully calculated contract trades? How cheap will SCE be to buy and then "reorganize," then to collect on those long-term contracts? Looks like a cheap "loss," doesn't it?

20 posted on 03/06/2002 9:04:04 PM PST by Carry_Okie
[ Post Reply | Private Reply | To 19 | View Replies]


Navigation: use the links below to view more comments.
first 1-2021-26 next last

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson