PG&E files for bankruptcy
The glory of the left's policies.
What will Newsom do? "California Gov. Gavin Newsom has also expressed worries about the potential cancellation of the contracts, which could affect the state’s ability to meet aggressive goals to cut greenhouse gas emissions and combat climate change."
That is the most important aspect of this disaster for him.
We are bracing for another slate of "rules".
What will Newsom do? "California Gov. Gavin Newsom has also expressed worries about the potential cancellation of the contracts, which could affect the state’s ability to meet aggressive goals to cut greenhouse gas emissions and combat climate change."
That is the most important aspect of this disaster for him.
We are bracing for another slate of "rules".
Did you short it?
Remember from the money speech in Atlas Shrugged...the laws are to protect them from you, not you from them. Sure, after the negligence that was made public became so gross even the looters had to step aside. But, for a while there they followed my model of preparing to let the share holders hold the bag. I pounced in that time. Once they buckled and it was clear how bad things are I was long gone...
They live in gated houses with security and every convenience. They know how to survive.
The people will not know.
To destroy it completely so nothing will work.
What business the gov is able to run successfully?
But businesses are supposed to show a profit...the objective of running the mob is non-monetary.
I got a stupid question: If PG&E is found guilty of criminal charges, who goes to prison?
As large as this utility is, I seriously doubt there would be any way to identify specific individuals who could in any way be responsible.
Good question, who goes to prison.
Obviously nobody. PG&E has been blasted or the screen even before the fires. immortalized in the film "Erin Brockovich" for poisoning drinking water in Southern California and causing cancer for many people who drank it.
Nobody went to prison then, either.
The CEO Geisha Williams disappeared as the company filed for bankruptcy.
"Democrats in California are lambasting PG&E for putting profits over safety, but its failures owe in large part to a misallocation of capital directed by politicians. PG&E exemplifies what is becoming the liberal market paradigm: Government determines the prices that businesses can charge and the return investors can receive, which depend on their fulfilling political objectives.
Recall the Obama Administration’s rescinded “net neutrality” regulations that deemed broadband providers to be public utilities with the goal of imposing more political control over the Internet. ObamaCare limited health insurer profits, though premiums have continued to climb. Liberals are calling for price controls on drugs and want to use the Community Reinvestment Act to direct bank capital.
Senator Warren wants to go even further and establish a federal corporate charter that would require companies to answer to “stakeholders,” not shareholders. She means politicians and progressive interest groups."
California lawmakers last year enacted legislation to allow PG&E to socialize some costs of wildfire damage, so customers will have to pay many times over for its failures. The corporate utility future will be expensive. "
This time...Just one more time...unrelenting faith that their marxist utopia It’s just another final purge away.
So did Hussein when he ran.
They won't name it but do everything to sneak it in. Once it is securely in place, they'll come out and name it.
Did you know that when you go to a bakery or coffee shop in SF to get your morning coffee and maybe some baked goods, you will see a surcharge that pays for the employees' medical insurance?
Gas prices are $2+ in the country on average but they are $4 in CA, due to all kinds of taxes.
Vendors charge you about 10% for goods purchased (state tax)
It is as close to a VAT as possible.
No wonder communist wonder Pelosi is pushing for a VAT tax nationwide.
PG&E received some relief last week when state fire investigators said its equipment wasn’t responsible for the 2017 Tubbs Fire, which burned nearly 37,000 acres and killed 22 people. PG&E’s shares jumped on the news but were still down, through Monday, more than 80% since October.
Even though it was cleared in the Tubbs Fire, California investigators have determined that the utility’s power lines sparked 18 other wildfires in October 2017 that burned nearly 200,000 acres, destroyed 3,256 structures and killed 22 people. California’s legal framework renders utilities liable for damages from wildfires started by their equipment, even if they weren’t negligent."
"Investigators are still working to determine whether PG&E’s equipment played a role in starting last November’s Camp Fire, which killed 86 people, making it the deadliest fire in state history. The company disclosed that one of its high-voltage transmission lines malfunctioned in the area about 15 minutes before the fire started."
The Camp Fire was started when a transformer blew up, by the admission of PG&E. The Camp Fire was orders of magnitude more devastating than the Tubbs.
BTW, no mention of an investigation into the nearly total lack of responsible forest management at the hands of the government and politicians that set this mess up in the first place. The power lines along the roads in my community run through very dense tree branches. But, it looks nice..... There are no adults in charge here.. The massive voting blocks in the large cities don't have to worry about such things. They're more concerned about "free" stuff for everyone, banning plastic straws and making sure you don't offend anyone.