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Texas Investors would Keep Veto Power over Oregon Electric Utility's Board.

By Gail Kinsey Hill, The Oregonian, Portland, Ore. Knight Ridder/Tribune Business News

Mar. 28--Texas Pacific Group and three Northwest investors led by Neil Goldschmidt have been beating the drum for local control of Portland General Electric ever since the November unveiling of their plan to buy the utility from bankrupt Enron.

Most notably, they emphasize that former Oregon Gov. Goldschmidt, Portland developer Tom Walsh and Seattle venture capitalist Gerald Grinstein would have 95 percent voting control of Oregon Electric Utility, the holding company

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