While the intensity of management activity was very high throughout the merger planning process, it was generally well ordered, in large measure because our Corporate/ Utility Transition Team and 16 sub-teams formed an effective vehicle for managing the planning process.
The Transition Team was given less than one year from the July 27, 1994, merger announcement date to plan the implementation of the merger. The plans for implementation were targeted for completion no later than June 1, 1995.
into the Process
It is important to understand that Russ Christiansen and I viewed the merger process in qualitative as well as quantitative terms. In other words, we viewed the merger as an opportunity to achieve something well beyond just an integration to eliminate duplicate functions and reduce costs. As important as that objective was, we wanted to supplement it with a continuing vision for MidAmerican, a vision defined by a set of goals that would not only encompass all functions, but would also be seen by our employees, shareholders, customers, regulators, and the communities we serve as a striving for excellence. Consequently, these six goals became the guideposts for the Transition Team:
1) Realize merger savings and improve utility earnings as soon as possible. In addition:
s Recognize that the preliminary employment, operation, and maintenance targets would establish only the minimum goals
s Identify performance gaps by benchmarking key functions
s Assign targets for performance to transition sub-teams.
2) Maintain key community commitments and economic development initiatives in terms of:
s The relative employment and income levels in key communities served