The Public Service Enterprise Group, Inc. of today began its life as Public Service Corporation in 1903, by the amalgamation of more than 400 gas, electric and transportation companies in New Jersey. The then Attorney General of New Jersey Thomas McCarter was named the Corporation's first president (his brother Robert McCarter succeeded him as the Attorney General) and held he the position until 1939. The McCarter Highway in Downtown Newark is named after him. In the course of business, Public Service consolidated its gas and electric interests into Public Service Electric and Gas, and its transportation interests into Public Service Coordinated Transport (later Transport of New Jersey), internally. However due to concerns about the concentration of economic power of the utilities companies resulted in federal and state legislative bodies to take action and break them up. In 1943, Public Service once again became a stand-alone company, and was renamed Public Service Electric and Gas Company (PSE&G) in 1948. The Company's involvement in transportation ended in 1980, when PSE&G sold its transportation system to the State of New Jersey. (In 1934, Public Service engineers designed the first diesel-electric bus. And in 1937 went on to operate the first diesel-electric bus fleet (of 27 vehicles) in the world.) In 1985, The Board of Directors created Public Service Enterprise Group (PSEG) as a holding company. In connection with the restructuring of the industry in New Jersey, in 2000, the generation assets of PSE&G were transferred to PSEG Power, an electric generation and wholesale energy trading company. Enterprise Risk Management in PSEG: An Overview Public Service Enterprise Group and its subsidiaries (PSEG) maintain and execute ... ... middle of paper ... ...mitigating risk through supply contracts, and o Ensuring availability of supply of materials and services to meet operation’s needs. Business Interruption Management (BIM) Outsourcing PSEG Business to Companies outside the United States Miscellaneous (Non-Purchase Order) Payment Request Purchasing Card Practices and Procedures Procurement Staff Augmentation Management Security, Mission, Authority and Responsibility Sabotage Recognition, Response and Reporting Security over Financial Information Enterprise Cyber Security Practice Identity Theft Program Standards of Integrity Business Conduct Compliance Program Fraud Detection and Prevention Program PSEG Enterprise Reporting Incoming/Outgoing Guarantee Process Transaction Review Financial Risk Management Practice PSEG Delegation of Authority for Company Transactions PSEG Credit Risk Management Practice
A catch-all category that covers the corporate segment, PEI power (70 MW of generation assets in PJM), and a legacy gas appliance business.
The diesel engine was granted patent in 1898 and after that it spread around the world in the nineteen hundreds.
Special purpose entities, or SPE, were created by the chief financial officer Andy Fastow. The purpose of the partnerships with the newly established entities was the high debt of Enron and to record some profit on the sale of Enron assets to these companies. This kind of company needed to be independent from Enron. To establish independence and to comply with GAAP it had to meet two criteria. A. the existence of independent investor who controls at least 3 % of the entity assets. B. investors should act as the controlling shareholder and in making the entity business decisions. Chewco was one of those entities created by Fastow, they wanted it to be used to cover the loses of another entity called JEDI (which had a partnership with CALPERS). They needed this company so they didn’t have to report this loss on their balance sheet therefore they needed some independent investor to take over the 3% of the entity. The outside investors were aware of Enron business in this kind of entity so they wouldn’t participate in such entity. One Enron executive, Michael Kopper, informed Fastow that he is willing to take over the 3% needed to run the company. Kopper made a lot of profit off his new position and also managed to
du Pont who owned stock became the President of General Motors and developed his “Organization Study” a document that showed how a highly diversified corporation could give division manager adequate freedom and reward to excel, while top management still would have strategic and financial control. The company’s philosophy and strategy from 1910 to late 1920 was a car for every purse and purpose and as demands for automobiles increased, General Motors set the pace for innovation, production, and design for others to follow. Despite high profits, General Motors suffered from a divided management and the war interfered with the company’s ability to solve the problem. During wartime, General Motors showed its commitment and social responsibility by supplying “12 billion dollars worth of materials, such as trucks, tanks, and airplanes, to support the Allied war effort” (General Motors, 2015). The citizens of America had a profound respect for GM’s positive efforts. On the other hand, in 1949 after the purchase of National City Lines of Los Angeles, GM was accused of buying streetcar companies since the 1920’s and replacing them with bus systems (Associate Press, 2008). Consequently, in this Los Angeles case General Motors was convicted of conspiracy, their first major cover up. After the war, GM executives persuaded DuPont’s directors to invest 25 million dollars in GM. DuPont could use their products of plastics, paints, and artificial leather with GM automakers designs and jointly dominated the market. In addition, DuPont developed anti-knock gasoline additive and their Engineering Department helped General Motors build production plants and employee housing. According to Holstein, “General Motors controlled 50.7% of the U.S. automotive market in 1962” (p. 5). DuPont and General Motors had a successful business partnership, but unfortunately, the stock interest DuPont held in General Motors violated the Clayton Antitrust Act according to the
My focus for this report is the “building blocks” of the Management, and how it shapes the organizational functions of the Missouri division of Southern Union Gas. James H. Oglesby is the COO and President of the Missouri division. MGE (Missouri Gas) serves approximately 498,000 natural gas customers in central and western Missouri, including Kansas City, St. Joseph, Joplin and Monett. MGE has about 700 employees to serve its customers in 155 communities throughout Missouri.
General Electric is a state-of-the-art company that specializes in building excellent appliances from lighting fixtures to kitchen appliances along other products. You will find many of these products in millions of homes and offices, factories, and retail facilities around the world work better. GE has a training and development program that employees can use. This program has enabled GE to remain prosperous since 1892. The General Electric was established by J. P. Morgan and Charles Coffin, G. E. has developed a management strategy that has penetrated the complex boundaries between management stages. Not only does GE have training programs available for its managers and employees, but for their customers as well. G.E’s entry-level leadership and experienced leadership programs have allowed this company to excel. G.E. also believes in having a learning culture. Learning is accomplished at G.E.’s John F. Welch Leadership Development Center. These programs and center have greatly contributed to the success and longevity of G.E.
"We're very excited to expand our partnership with Navistar to include both gasoline and propane solutions," said Gary Winemaster, PSI's chairman and CEO. "Bus fleets are continuing to shift away from diesel in order to provide long-term savings for schools and a cleaner environment for the future. As part of this shift, gasoline has become the 'third alternative fuel," Winemaster continued.
The Diesel engine, a compression ignition, internal combustion engine, was invented in 1893 by French inventor Rudolf Diesel. Diesel continued to developed his invention until 1897. “[his]... compression ignition engine could burn any fuel, the prototypes he built would run on peanut or vegetable oil–and needed no ignition system: It ignited by introducing fuel into a cylinder full of air that had been compressed to an extremely high pressure and was, therefore, extremely hot.” The Diesel engine impacted greatly on society in many ways, both good and bad.
These business were all heavily invested in by GM, Standard Oil, Philips Petroleum, and other companies with a heavy stake in the success of the automotive market. By 1946, the conglomerate had gotten, owned, and regulated 46 transit systems in 45 cities and 16 states. Slowly, the trolley systems began to be phased out in favor of buses.
In the 1950 it was a whole new way to travel you could do it by car, boat, bike, ships, and wagons. According to Gunther Toody's, In 1950 there were 25 million registered automobiles, the majority of which were made pre-World War II, and by 1958 there were 67 million registered. In 1955, the National Highway system expanded with multi lane highways for speeds and more vehicles to fit in more than just one lane. The electric trolley was meant for people so that they did not have to depend on horse and foot. For the people that had to walk far to there job the cars had made it a short drive away.
40). Public service motivation is a crucial component in public administration and nonprofits due to the nature and mission of these organizations. In the case study, the King County Library System did foster PSM through hiring the right people dedicated to their jobs, but they failed to promote it throughout the organization by providing further training and education and clarifying goals and empowering
In 1952, Charles E. Wilson resigned as President of GM to become Secretary of Defense. At the confirmation he was asked if he could make a decision in the interest of the nation if it were adverse to GM. "Yes sir, I could," Wilson said. "I cannot conceive of one, because for years I thought what was good for our country was good for General Motors and vice versa. The difference does not exist."1 Yet his GM is accused of undermining the American transportation infrastructure and destroying a viable, superior streetcar network in order to sell more cars. Regardless of the validity of this conspiracy theory, the fact remains that America destroyed vast mass transit networks to make way for private and public automotive transportation. The question of whether the transfer from iron to asphalt was advisable also asks what makes a good transportation network. Both transportation systems are valid, but unique features of American cities and culture made automobiles the better choice. Conspiracies of the powerful in the USA pale compared to the tyranny of the majority. Regardless of economic or social considerations, public demand made the key decisions in building the American transportation network.
Quantitative risk assessment is used for particular purposes. This menthod provides numerical evaluation of risks.
This paper will reflect on the different uses of Project Risk Management and ways in which it can benefit organizations to have the ability to identify potential problems prior to the problem occurring. Risk, this is not something to be taken lightly whilst dealing with matters that include high end projects meeting specific details, deadlines and expectations for the end client. Project risk management teaches one to be aggressive early on in the phases of planning and implementing the tools for a project. This is usually easier as costs are less and the turnaround time to solve the issues at that present moment is beneficial rather than later. The result in a successful project for one’s self and other key people involved in the process is also another requirement. Stakeholder satisfaction is important because the
Public administration formally became a recognized academic and professional field in the late 19th century. Many public administration scholars contend that the start of public administration becoming a field of study was the 1887 Political Science Quarterly article “The Study of Administration” by a young Woodrow Wilson. (Shafritz, Russell, & Borick, 2011, pg. 28) Woodrow Wilson was classified as being a member of the Progressive Movement. The Progressives were a varied group of politicians, academics, advocates and activists who sought to abolish what they saw as the corrupt practices of the patronage system and to reform the new industrialized society that America had become. They objected to the pervasive corruption of government and sought to do away with the political machines that had become the standard of the time.