PG&E Will File For Bankruptcy
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PG&E, the state’s largest utility, said Monday it will file for bankruptcy on January 29, after a 15-day waiting period required by California law. It needs to use the bankruptcy process, which will allow it to shed some of its debt, to pay for damages and stay in business to provide gas and electric service to its customers.
Shares of PG&E (PCG) plunged 48% when the market opened Monday.
I’m glad their stock dropped. They should be out of business as far as I’m concerned. Haven’t forgotten them poisoning people in Hinkly. Do you remember Erin Brockovich?
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January 14, 2019 at 2:51 PM #12221
January 14, 2019 at 4:34 PM #12255Mr. Mickeys MomModerator
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I hope someone makes this even more newsworthy by interviewing Erin Brockovich.
Hell, no... I'm not giving up...
January 14, 2019 at 5:44 PM #12276NV WinoModerator
- Total Posts: 9,539
Actually the 2017 fires in and around the Napa Valley, and the 2018 Camp Fire are the most recent f u c k ups and what is sending them into bankruptcy.
On another note, it looks like SoCal Edison is responsible for the Woolsey fire.
These greedy monopolies need to be broken up and sold to smaller local entities. Their boards of directors need to be thrown in the pokey… for a loooong time.
January 14, 2019 at 5:47 PM #12278
January 14, 2019 at 9:30 PM #12374RexParticipant
- Total Posts: 154
Another neo-libertarian failure. They prattle on about sociali-sm while pretending a corporate nation would run just peachy keen!
I’m old enough to remember when PG&E only f*cked up American elections. Massive incompetence all across the board? The American way!
Forcing people to work without pay is akin to slavery.
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