Results 1 to 2 of 2
  1. #1 PG&E, utility tied to wildfires, will file for bankruptcy 
    Senior Member Banacek's Avatar
    Join Date
    Mar 2016
    Location
    Peoples Republic of Connecticut
    Posts
    12,393
    Pacific Gas and Electric, facing billions of dollars in claims over the deadly 2018 Camp Fire, is headed to bankruptcy court

    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.

    The company, in a public filing, cited at least $7 billion in claims from the Camp Fire. The wildfire caused 86 deaths and destroyed 14,000 homes, along with more than 500 businesses and 4,300 other buildings.

    It is believed the fire was started when a PG&E power line came in contact with nearby trees. PG&E reported "an outage" on a transmission line in the area where the blaze began, about 15 minutes before it started. Within the massive burn area, PG&E found power equipment and a fallen power pole riddled with bullet holes, according to a letter it sent to regulators. The company also reported that it found a downed line with tree branches on it.
    I imagine that the bullet holes in the power equipment were fired by various eco-nut groups.

    https://www.cnn.com/2019/01/14/busin...res/index.html
    Unknown philosopher at a St. Patrick's Day celebration 1967

    1 beer between 3 guys is better than no beers between no guys
    Reply With Quote  
     

  2. #2  
    PORCUS STAPHUS ADMIN Rockntractor's Avatar
    Join Date
    Apr 2009
    Location
    oklahoma
    Posts
    53,594
    California has no use for electricity as long as there are sticks to rub together and wind, they are much to smart for the rest of us.

    Sent from my Nexus 6 using Tapatalk
    "If the Bible is true why don't we have any urns or vessels that like say expires 6/15/300 BC on the bottom?"
    Alexandria Ocasio Cortez
    Reply With Quote  
     

Bookmarks
Bookmarks
Posting Permissions
  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •