Pacific Gas and Electric shares are plunging Monday after California Gov. Gavin Newson rejected the utility's bankruptcy reorganization plan. Newsom, in a five-page letter sent to PG&E CEO William Johnson, said the $13.5 billion settlement that the San Francisco-based utility struck with wildfire victims "falls woefully short" under state law as the proposed changes did not "provide safe, reliable, and affordable services to its customers." The decision to reject the settlement was the latest blow to PG&E, which is hoping to move past its bankruptcy.