Editorial | The Exelon-PSEG Merger
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#1 Aug 4, 2006
Rowe's system of management is "My way or the Highway". He is used to making demands and getting them. Spoiled meglomanic, possibly, but I'm not a doctor. EXELON's major flaw - the relvolving door with their executives. In the last few years they have brought in numerous "executives" attracted from other Corportions (many non-Utility so what do they bring to the dance?) with large stock options and salaries, they stay a couple years, cash in and move on. Corporate stabiliy - I don't see it, and it's a problem. Those in charge don't know or understand the process. PECO is currently having another Chicago innovation rammed down it's throat aganinst strong protest. PECO customers be forwarned, service is going farther down the tube, just wait, you should begin to see it in about 4 - 6 months. Think it's bad now, wait, it's about to change, and not for the better. On the positive side, the merger with PSE&G may provide an alternative to the downward slide. PECO and PSE&G have much in common, and neither have much in common with ComEd. Perhaps unity of the eastern companies can reverse the trend, or perhaps EXELON will also ruin PSE&G. That remains to be seen.
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