Today's Public Service Enterprise Group, Inc. began life as a public utility company in 1903, from the merger of more than 400 gas, electric, and transportation companies in New Jersey. Then-New Jersey Attorney General Thomas McCarter was named the Corporation's first president (his brother Robert McCarter succeeded him as attorney general) and held the position until 1939. McCarter Highway in downtown Newark bears his name. business, the utility internally consolidated its gas and electric interests into Electric and Gas Public Service and its transportation interests into Public Service Coordinated Transportation (later New Jersey Transportation). However, due to concerns about the concentration of economic power of utilities, federal and state legislatures have stepped in to break them up. In 1943, Public Service once again became an independent company, and in 1948 it was renamed the Public Service Electric and Gas Company (PSE&G). The Company's involvement in the transportation industry 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 they operated the first diesel-electric bus fleet (of 27 vehicles) in the world.) In 1985, the Board of Directors created the Public Service Group (PSEG) as a holding company. In connection with industry restructuring in New Jersey, in 2000, PSE&G's generating operations were transferred to PSEG Power, an electric generation and wholesale energy company. Enterprise Risk Management at PSEG: An Overview of the Utilities Group and its Subsidiaries (PSEG) Maintain and execute... middle of paper... mitigate risk through supply contracts and or Ensure availability of supply of materials and services to meet operational needs. Business Disruption Management (BIM) Outsourcing of PSEG business to companies outside the United States Miscellaneous (non-purchase orders) Payment Requests Purchasing Card Practices and Procedures Procurement Staff Empowerment Management Security, Mission, Authority, and Accountability Sabotage Recognition, Response, and Reporting Security on Financial InformationCorporate Cybersecurity PracticesIdentity Theft ProgramIntegrity StandardsBusiness Conduct Compliance ProgramFraud Detection and Prevention ProgramPSEG Enterprise Reporting Inbound/Outbound Collateral Process Transaction Review Financial Risk Management Practice PSEG Delegation of Authority for Corporate Transactions PSEG Credit Risk Management Practice