Monday, August 25, 2008

Pedernales to Cut Old Ties with Moursund Family [Statesman]

In case you didn't see it, the Statesman ran an article this week about PEC moving to end preferential relationships with family members of the late A.W. Moursund, PEC's former general counsel.
"For more than 50 years, Pedernales Electric Cooperative directors protected a prominent Hill Country family's interests in co-op business with board resolutions and practices that continued even though questions were raised about the ties decades ago."
The article notes that the co-op will end ties with banking and legal firms controlled by Moursund's daughter Mary, son Will and daughter-in-law Ingrid Moursund.
"Whether that split will be amicable remains to be seen. Pedernales General Manager Juan Garza said last week that the Moursund law firm has not yet fulfilled a request to return Pedernales files. For the past two weeks, the Moursunds have not returned American-Statesman phone calls to their Round Mountain law office seeking comment."
Read the full article: Hill Country family had powerful grip on utility.

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