Right out of Atlas Shrugged

Posted by $ Abaco 4 years, 5 months ago to Government
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This is right out of Atlas Shrugged. I'll flesh out why later. I'm so ticked about this... When you own a chunk of an entity's stock you pay attention to the manipulators. As a guy who spent several years as a registered investment advisor I know crap when I see it. Note the error in the wise mayor's statement in this story...


All Comments

  • Posted by Bill54 4 years, 5 months ago
    Well, it just seems that humankind is doomed to repeat the mistakes of our predecessors. Who is John Galt? Where is individualism today? Perhaps just over the horizon. Perhaps it is under our feet. Be brave.
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  • Posted by LibertyBelle 4 years, 5 months ago
    I wonder about a few things. Did PG&E cause the fire? (I've heard things on the radio news about fires being caused or spread out that way by underbrush that people have been forbidden to get rid of).
    Is PG&E a private, free-enterprise company or a coercive monopoly?
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  • Posted by ycandrea 4 years, 5 months ago in reply to this comment.
    Or maybe PG&E is too corrupt and misuses their money. LIke paying unearned bonuses and such.
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  • Posted by term2 4 years, 5 months ago in reply to this comment.
    Too bad. The faster he destroys calif the sooner it has the chance to resurrect
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  • Posted by term2 4 years, 5 months ago
    I think they should just take it over and let socialism run it’s course there If socialism is so great maybe it can make flammable things inflammable
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  • Posted by $ jdg 4 years, 5 months ago in reply to this comment.
    Because those states are allowing their utilities to charge enough that they can afford to do their jobs.
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  • Posted by bassboat 4 years, 5 months ago
    This is a very good idea. It would shut off power to all customers and the people would have to leave the area and their goal of returning to the past would be accomplished. Only government would be able to come up with this looney tunes idea.
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  • Posted by ycandrea 4 years, 5 months ago
    Those power structures are all over the US. How come they all aren't causing forest fires?
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  • Posted by $ gharkness 4 years, 5 months ago in reply to this comment.
    I've had that as my Facebook cover photo for a couple years now. (The saying, but not on a Tee Shirt). Can't figure out how to post a screenshot, or I would. Probably isn't allowed in this forum. Anyway....yep, my fave saying.
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  • Posted by Lucky 4 years, 5 months ago
    A little aside- if you read down that page you will see,
    ..gusts could blow embers more than a mile

    This is correct. Efforts to stop these fires with firebreaks are as worthless as the other methods that the green/left publicize. Water sprayed from very large aircraft evaporates before reaching tree top level, replacing gasoline in motor vehicles with electricity that cannot be supplied- pure grandstanding, and as the article says even fire breaks need to be a mile or more wide. The fact is these fires can not be stopped, the only approach is to reduce the fuel load by controlled burns in the wet/cool season.
    If PGE were a normal profit seeking company they would know about proper forest management and controlled burning, and lobbied accordingly, but they were too busy on political correctness exercises.

    To think that any kind of customer or government ownership will improve all that is to ignore experience in human behavior.
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  • Posted by $ 25n56il4 4 years, 5 months ago
    I have an 'adopted' son. He works for an employee owned company. Their most recent big contract, according to him, is a disaster!
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  • Posted by $ 25n56il4 4 years, 5 months ago in reply to this comment.
    Just like in Atlas Shrugged! The Pendulum does swing. With the advent of the USMCA Trade Agreement, I have found an ending for my most recent fiction effort.
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  • Posted by $ 25n56il4 4 years, 5 months ago in reply to this comment.
    Ladies don't bother to run. When I ran for re-election, one guy was paying people $40 to vote for my opponent. He was a 23 year old arsonist, drug pusher!
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  • Posted by $ 25n56il4 4 years, 5 months ago in reply to this comment.
    BTW. I was the first lady ever elected to our City Council and the first lady Mayor Pro-Tem. There have been no lady's elected in the past 10 years.
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  • Posted by $ 25n56il4 4 years, 5 months ago in reply to this comment.
    Fasten your seatbelts. I will be in front of the City Council tomorrow night and I will scream until the hair falls out from all seven boys' heads!
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  • Posted by $ 25n56il4 4 years, 5 months ago in reply to this comment.
    My water bill shows something dumb about 'averaging winter bills?' I don't like this average.
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  • Posted by $ 25n56il4 4 years, 5 months ago
    Talk about utility dumbness. I got a water bill last month indicating I used 25,000 gallons of water. Then this month one for 10,100 gallons. Now, I have two water meters. This one has one toilet (no bath or shower) and a dishwasher. Really?
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  • Posted by $ 4 years, 5 months ago in reply to this comment.
    You'll get it at the same time you get your free healthcare, free tuition for your kids, etc.
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  • Posted by Dobrien 4 years, 5 months ago
    The resolution passed by the City Council said that “ratepayers — including businesses and residents — critically need a utility company focused on placing the provision of reliable, safe, and affordable power above the interests of its shareholders.”
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  • Posted by $ jbrenner 4 years, 5 months ago
    John Galt knows how to fix this. I know him. He has been to my house to fix my A/C a couple of times. I also know that he will not work for PG&E.
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  • Posted by exceller 4 years, 5 months ago in reply to this comment.
    Yeah.

    PG&E was supposed to extend credit to ratepayers whose power was cut recently as a "public safety" concern aka incompetence. Or so said Newsom, our erstwhile newly elected governor.

    I have not seen one cent of credit on my bill.
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  • Posted by $ 4 years, 5 months ago in reply to this comment.
    PG&E has offered to pay the victims off. Now...for some reason, it's up to an elected official to approve of that offer by Friday. That same elected official wants to take PG&E over. One scenario offered by this person...get this...is to put a bond measure on the ballot to do it.

    LOL
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  • Posted by AMeador1 4 years, 5 months ago in reply to this comment.
    Ah, that's a shame. I've only heard pieces and parts about their issues. I still don't like government mucking around in things - but it surely doesn't mean they are not on the hook for poor decisions and poor management themselves. If they have run themselves into the ground - bankruptcy is justified. Maybe it would be better if they would file a chapter 7 and just go out of business. Let the creditors sell their assets - hopefully to an operation that can do a better job. But, they need to get rid of the regulatory BS that will be facing the new company. They really should do this as a private for profit company. There is too much movement in this country of businesses being non-profit - which really puts the IRS in a position of fixing what people are allowed to earn based on job titles - an indirect way of our government implementing that "no one is worth that much pay" mentality. The more they do it the more they will push it everywhere. Besides all of the benefits of doing it in a capitalistic manner. I've been seeing retail stored popping up that are getting non-profit, tax exempt status due to the fact that they offer classes on cooking related things here and there and get by with calling themselves educational - all while competing with close by for profit stores that don't get the tax benefits.
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  • Posted by exceller 4 years, 5 months ago in reply to this comment.
    In the case of PG&E, the cost of upgrading the grid has grown to astronomical amounts and the company opted to pay that amount out as bonuses for its executives for a job well done.

    I don't sympathize with PG&E for a second, having been exposed to its "services" for a long time.

    The attitude itself how they handled emergencies merits a bankruptcy.

    They gave explanations when you called them up such as "who would have expected flooding in that area" when it has been well known the area was prone to flooding because of the terrain, every time the rainy season hit.

    Or: "we have been spending millions of dollars cutting trees that present danger to the lines" this when power was cut due to a storm that downed trees in open areas, bringing down power lines with them.
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