Quote:
Originally Posted by eldondre
I see it more like what enron did, taking out debt for revenue generating opportunities but leaving it off the books in subsidiary companies. co-signing would be an expllicity guarantee form the city of Philadelphia, not shifting it off the books. I do have a problem with PGW moving its debt onto the taxpayers books, it merely obfuscates the picture. It should act like any other company and reduces expenses it controls, pay down debt. Like I said, according to the Inquirer, PGW has the highest employee to customer ratio in the industry. that's what they need to address, not sticking taxpayers with the debt.
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I just mailed a (mercifully low) gas bill off to Newark, NJ. This is a fairly recent change. Do you think that PGW outsourced its billing, or do you think they have a satellite office in Newark?