PG&E bailout deal lands lawyers $227 million

SF Chron ^ | 12/24/03 | Phillip Matier, Andrew Ross

[Tumbleweed_Connection]

Not a lot of "ho-ho-ho's" at Pacific Gas and Electric Co., what with the big blackout and then the earthquake, but one group sure is smiling -- namely, the lawyers who represented the utility in its bankruptcy proceedings.

It turns out that as part of that $8 billion, ratepayer-funded deal to bring PG&E out of bankruptcy, the state Public Utilities Commission signed off on $227 million in attorney fees.

[FormerACLUmember]

$227 million stolen from a state which can ill afford such theft, by the unregulated shyster industry. Money that could have gone "for the children of California."

How about a referendum reforming Trial Lawyer, Inc? You know, massively limiting their fees and placing them under consumer regulation like any othger industry!

[SpaceBar]

Headline should read:

PG&E bailout deal costs California residents $227 million

[Tumbleweed_Connection]

Well stated.