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  • State Senator Introduces Plan for California to Take Over PG&E

    02/04/2020 12:09:44 AM PST · by nickcarraway · 44 replies
    KQED ^ | Feb 3 | Marisa Lago
    State Sen. Scott Wiener will unveil legislation today to let the state of California seize control of the embattled utility PG&E. Wiener's bill, which comes one year into PG&E's bankruptcy case, would use eminent domain to force the company's stockholders to sell their shares to the state of California, which would then take over operations. Wiener said the new entity could issue bonds to pay for it. "PG&E is a failed company — it is an irresponsibly run company," Wiener, a San Francisco Democrat, said in an interview. "It has allowed its infrastructure to completely deteriorate to the point that...