What: Protest against Texas Pacific Group purchase of PGE
Where: Arlington Club, 811 SW Salmon
When: 6 - 7:30 p.m.
David Bonderman from the Texas Pacific Group will be down at the Arlington Club at 811 SW Salmon tomorrow night around 6:30 pm. He is in town trying to woo local business owners to support TPG's takeover of Portland General Electric.
The Central Portland PUD campaign is calling for concerned citizens to show up at the Arlington Club with signs to both demonstrate against Texas Pacific and express their support for what they really want - public power. Please call a few friends and show up with signs (some potential slogans are listed below). We need your support tomorrow night to stop these corporate goons from treating ratepayers like a cash cow.
The TPG purchase will provide little public benefit for ratepayers (savings of about $0.10 per month) and lots of potential problems. It's a highly leveraged buyout which might result in a financial collapes and raise rates even more than their current ridiculous level. TPG only plans to own PGE for 5-7 years before selling it off again, and will do everything possible to maximize their profit in that short term period. It's possible that TPG won't turn into another Enron, but it's conceivable that the next private entity that they sell it off to could turn into Enron Part II.
PGE's customers need to end the uncertainty and adverse effects which have accompanied the Enron collapse and private utility ownership in general. We need public power in order to provide long-term stability, lower rates, local control and more investment in renewable energy. Let's shut down PGE's coal-fired power plants and start builidng more wind farms! It's time to provide serious rate reductions to relieve the stress on working families and help struggling small businesses. You can do your part by joining us tomorrow night at 6 pm!
For more information on TPG, check out the links to the following Indymedia stories:
Basic overview of TPG and major players:
Analysis of TPG's filings to acquire PGE:
Potential slogans for signs (feel free to chime in with your own!):
No New Texans
I Want My PUD
Public Power Not Private Profit
No More Enrons
10 Cents Per Month Isn't Rate Relief
PGE - They Screw Us Every Day