San Diego Gas & Electric’s board, apparently...
San Diego Gas & Electric’s board, apparently trying to make an unwanted takeover bid more expensive, approved a modified severance plan that, under certain circumstances, would double severance pay for employees who lose their jobs after an unsolicited takeover. SDG&E; officials declined to comment on what it would cost to implement the plan. But the board evidently was responding to SCEcorp’s recent $2-billion stock-swap merger offer, which could mean the loss of 1,000 jobs at SDG&E; and Edison, according to SCEcorp Chairman Howard Allen.
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