They're already trying to figure out how to get away with burning half the state down 😂 https://www.reuters.com/article/us-pg-e-us-bankruptcy-exclusive-idUSKCN1OY225
Isn't this the same company Erin Brokovich famously took to court? Long history of treating people and employees like shit.
Firefighter radio transmissions and PG&E regulatory filings indicate a transmission line near the Poe Dam may have sparked the fire amid heavy winds and tinder-dry conditions. The “root cause” of the blaze, according to the lawsuit, was PG&E’s focus on profits over safety. “Rather than spend the money it obtains for infrastructure maintenance and safety, PG&E funnels this funding to boost its own corporate profits and compensation,” the lawsuit says.
They have damaged a lot in CA. Most fires are PGE equipment issue and CA has no solid option.
So will my bill increase or decrease as a result?
If PGE actually gets out of paying then rest assured that the tax payer will end up footing the bill 💸
PG&E is estimating 5-6% increases per billion dollars of liability and looking at something like $15 billion in liability. They’re trying to get state reps to indemnify them for 2018 fires like they did in 2017. If they declare bankruptcy, they’re claiming rates will also go up since they will have a higher borrowing cost
Why a utility company is publicly traded while also being a monopoly with its own pricing power and with state government backing? They have 0 incentive to be responsible. They never lose. Why isn’t utility part of the government and tax payers would have a say on its decisions?
Welcome to American capitalism
This post makes me feel better about oracle
Why?
there is company worse than oracle
Pathetic company. I have a cousin who works there and he says that employee morale is very low. People are leaving in batches every Friday after the fires started.