Posted on 03/29/2002 1:34:52 AM PST by snopercod
Edited on 04/22/2004 11:46:23 PM PDT by Jim Robinson. [history]
SACRAMENTO, Calif. -- Pacific Gas & Electric Co. has removed a major obstacle from California's plan to sell up to $11.1 billion in electric-revenue bonds, saying it does not intend to challenge key elements of the sale in the state Supreme Court.
(Excerpt) Read more at online.wsj.com ...
If so this is going to require a heroic effort on the part of a lot of state officials during the start of an election year election season.
Dan Aschenbach, a senior vice president of Moody's Investors Service, went further, calling the letter "a huge step forward by PG&E to move ahead with this bond issue." At the same time though, Mr. Aschenbach added, "From a credit perspective, we still have serious reservations about the regulatory uncertainty in California and how that will affect future decisions on rates."
Yes, it should be interesting to watch the process and heroic efforts on California's part to issue power bonds. Thank you again for sharing this article which bring me up to speed on this and the PUC aspects of what is happening.
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It struck me that way, too.
The article was more like a SF Gayrhonicle of SJ Jercury dry cleaned article to make Davis and the rats look good than your typical WSJ article.
Having said that. Post the Monica licking fiasco, I let my subscription to the WSJ expire and didn't renew it because of the hate opeds of Al Hunt and some other leftist reporting during this time. I told the editors/publishers if I wanted left wing hate mantras/publicity, I would buy a NY or LA Slimes or the Gay Rhonicle.
I got back some garbage about fair balance. I replied that Al Hunt was never fair balance. He was a leftist hate monger, and I would not subscribe to a newspaper that paid him to write his articles of leftist hate. I never heard from them, but I continue to get great offers if I re subscribe.
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