In the end, the relative stability and autonomy of Portland General Electric (PGE), despite being owned by bankrupt Enron Corp., defeated the proposed $2.35 billion purchase by private investors headed by Texas Pacific Group (TPG), according to background provided by the Oregon Public Utility Commission (PUC) in the wake of its unanimous rejection Thursday of the TPG offer because of its perceived excessive debt and risk.
Autonomy
Articles from Autonomy
Ex-SEC Chairman: ‘Culture of Gamesmanship’ Led to Enron Undoing
The financial nightmare at Enron Corp. underscores the need for increased oversight of auditors, as well as the need for greater autonomy and objectivity by the Financial Accounting Standards Board (FASB), financial analysts, corporate auditing committees and company boards of directors, former Securities and Exchange Commission (SEC) Chairman Arthur Levitt Jr. told a Senate hearing last Thursday.
January 28, 2002
Ex-SEC Chairman: ‘Culture of Gamesmanship’ Led to Enron Undoing
The financial debacle at Enron Corp. underscores the need for increased oversight of auditors, as well as the need for greater autonomy and objectivity by the Financial Accounting Standards Board (FASB), financial analysts, corporate auditing committees and company boards of directors, former Securities and Exchange Commission (SEC) Chairman Arthur Levitt Jr. told a Senate hearing Thursday.
January 25, 2002
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