Posted on 11/02/2019 6:03:06 AM PDT by srmanuel
if you have been paying attention, this was an obvious action by the socialists in California.
First put onerous regulations on the Utility Companies, then when the wildfires happen and burn down hundreds of homes, the legal damages cause the Utility Companies to go bankrupt resulting in Government run Utility Companies....which putting the Government in the business of owning utility companies will solve all the problems.
Really wanna see...?
I want to see them manage and operate, and then decommission, a 2-unit nuclear generating plant.
And then watch them deal with the rolling brown-outs that follow the loss of ~2400 magawatts of clean/reliable round-the-clock baseload power when they shut down Diablo Canyon for political reasons.
Scheduled premature shutdown of that much generation capability makes no operational or financial sense, except in CA.
Let them show us how it is done..Be a good example...
Exactly, that’s why no private company will come forward to buy the assets of PG&E, the current bond holders will get screwed and be paid a few cents on the dollar.
The Unions will get rewarded and the management will be whoever the politicians in California put in charge.
Even with GM and Chrysler after bankruptcy they remained a private company albeit with heavy government influence....
With PG&E I believe the State of California will end up owning everything.....
I agree that California will end up owning everything....but the unionized workers will be protected while all the investors get nothing.
I would personally love to see that.
These people do not know how to run anything or do anything.
Their only skill is lying.
So they want to go to the Venezuelan model?
Would the last person leaving California please turn out the ...oh nevermind.
With a Government owned utility, there really isn’t stock that could be transferred to the unions...
In order to get their support, I think they will be allowed to transfer into the California Pension system which is probably significantly better than any current pension they have...
Employees will probably be given some type of credit in the State Pension system so they aren’t starting over again....
They will also probably brought into the State Healthcare plans, which is again is probably better than they currently have..
And finally they will be given decent raises all of which will cost the taxpayers of California Billions while become a Venezuelan utility company
And the stockholders get diddly squat.
“just maybe enough might see the light to bring Republicans back to power”
There are three ways to deal with a crisis...
Stay and suffer,
Stay and fight, or
Leave
My guess is that most people given the choice between fighting, leaving, or suffering they would leave. Look at Detroit.
$6.43 per share at close yesterday. Threats not a penny stock.
Supposedly Gruesome was trying to talk Warren Buffet into buying PG&E.
Buffet may be a lib (for political convenience) but he ain’t stupid.
“They can’t stop people from leaving like Venezuela can though.”
Five million Venezuelans have vacated the country so far.
I know. There’s a family living in my neighborhood.
SOOOOOOO—
California takes over P G & E
State is no better at maintenance & tree trimming for power lines than it already is for roads.....
Winds continue because STATE CANNOT CONTROL WIND.....
Wildfires continue to destroy homes, outbuildings. crops, animals, etc........
Claims against the STATE for malfeasance are ignored & homeowners never are made whole again.
Do I UNDERSTAND ALL OF THIS CORRECTLY ????
Environmental laws will be abandoned
No lawsuits allowed against state utility
Good luck to all of you Californians. I see more dark days and nights ahead.
It may not be a penny stock as of today, but look at the 52 week high...
52-wk high 49.42
so in 1 year it’s lost $43/share.
Pretty much sums it up
“And California is down around 19.86 (which is double of what you pay in Lou, Id, and Washington state).”
That’s the bottom rate. It quickly goes up to 30 cents from there.
“I can say this...if you had to pay $300 to $400 a month, for undependable electricity, I’d have to put up a solar cell collector or wind-mill...or leave the state.”
Yep, that is the choice we’re faced with. And it’s probably the choice they want to impose on us.
We’ll all have to become utilities of one. Solar with batteries and/or generators, which is not a bad idea, but how many people can afford that.
It’s a butt kicking loss.
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