Treasurer

With action by the California state teachers’ retirement fund Wednesday, state Treasurer Phil Angelides announced that all of the pieces of his so-called “Green Wave” investment strategy are now in place. As a board member of two of the nation’s largest public sector pension funds, Angelides has convinced them to invest in companies producing clean energy technologies and those with acceptable environmental protection records.

A plea bargain that would have sentenced former Enron Corp. Assistant Treasurer Lea Fastow, 42, to federal prison for five months was rejected by a federal judge in Houston Wednesday, but modifications could revive the deal, according to court sources. Meanwhile, a plea bargain agreement that would send her husband, former Enron CFO Andrew Fastow, 42, to federal prison for 10 years, apparently was being negotiated late Wednesday.

PSEG Global announced Wednesday that it has added George P. Schaefer, 50, to the company as senior vice president of finance and treasurer. Schaefer will focus on corporate and structured financing, financial planning, and asset and risk management. In addition, PSEG Global said he will assume responsibility for the asset management of the company’s investment in Texas Independent Energy (TIE), a joint venture established to develop, construct, own, and operate electric generation facilities in Texas. Schaefer formerly worked as an executive for Enron Corp. where he led a team in the structuring, negotiation and closing of electric generation and energy-related transactions. PSEG Global develops, owns and operates electric generation and distribution facilities in the U.S. and select international markets.