Punish them because they didn’t turn off the power, then punish them when they do.
What could POSSIBLY go wrong?
Too bad we couldn’t move our grid underground when we should have. Thank God I got out early.
Can there be any doubt the left is a cargo cult?
They think electricity just magically appears on the island!
Then when it stops, start praying to the Gods in DC using the magic word:
Bailout!
Bailout!
We need several of those huge planes that dump retards on the fire, those retards... anyhow I don't know what the solution is here its so messed up. I do know those folks at PG&E are terrible at running a power company - I don't think Edison has the record they do. From what I've come to learn PG&E are a bunch of crooks. Yes I know lots of the problems are because of the wack jobs that get elected.
Maybe things will change after it all burns down
Many left wing orgs...public employees will be hurt bigley...YIPEE!
Maybe PG&E should just declare bankruptcy, decommission equipment, gather up the power lines, and sell it all as scrap.
PG&E would no longer be an issue, and everyone would have an incentive to install home solar or other locally renewable energy sources. ... maybe that’s the plan.
So, your average PG&E shareholder could get a letter in the mail telling them they’re holding worthless paper due to expenses incurred from 2017 and 2018 wildfires? While PG&E is in the process of cutting off their power to prevent 2019 wildfires? Somewhere, something in the system broke down with no redundancy in place. New Dark Ages, indeed. Foresight seems to be becoming a more and more precious commodity these days, and interesting days they are. In every respect.
I heard from a buddy of mine who is still stuck in CA that CALPERS is the majority stock holder. That would be a truly ironic twist if true.
CA is a communist republic. It hates private enterprise. Betting this leads to CA “acquiring” PG&E. (You lose, people.)
When I was young, California was seen as a paradise. Great jobs, climate, scenery. Now, it is a human-made disaster.
With no PG&E, there is no California
California is now the equivalent of powerless Venezuela.
Maybe it’s time for PG&E to just Permanently Disconnect the transmission lines and sell them on ebay to the people that want to buy electricity from them
Big deal.
The executives will be handsomely rewarded for returning the company back to profitability...
Not shareholders.
So the left will destroy the company running their grid. OK. I’m sure the company they put in place will be 1000% worse. Idiots.
This is actually one of the standard outcomes for corporate bankruptcies when liabilities exceed assets, and is taught in the standard corporate law course in law schools. If the business can continue even in such an instance, the value of the shareholder's stock is determined to be zero and their claims are wiped out.
The holders of corporate bonds become the new shareholders, with their stocks valued at the amount of the bonds owing.
From what I've heard, PG&E is close to the line of its shareholder values being zero when the value of the wildfire claims is determined. If that happens, the bankruptcy judge will then determine the form of ownership of PG&E after bankruptcy. The holders of its corporate bonds are one of the groups appearing before the bankruptcy court with plans to take over the company's management after bankruptcy.
And, having lived in California all my life, this could not happen to a more deserving company. PG&E really is a direct and immediate threat to the public's health and safety. PG&E's corporate culture is rotten and it badly needs a complete restructuring and mass firings of its management & staff.
Easy answer, Texas.
Calif refuses to allow new needed generating plants,
So they purchase electric power from Texas for lots of money.