As PG&E Implodes, These Hedge Funds Are Getting Destroyed https://www.zerohedge.com/news/2018...the+survival+rate+for+everyone+drops+to+zero)
California wildfire victims sue utility PG&E, alleging negligence A group of three law firms representing multiple victims of California's deadliest wildfire has filed a lawsuit against PG&E Corp alleging negligence and health and safety code violations by the utility company in the blaze that has killed at least 48 people. (Reuters)
PG&E Probe California is expanding a probe of PG&E, the utility whose transmission lines have started wildfires, to examine the possibility of breaking up the company. Regulators want to know more about safety and accountability practices at PG&E. The probe has already been running since 2015 but is intensifying amid concerns over the utility's role in this year's deadly wildfires. Wall Street Journal
Calif. measure introduced to protect PG&E from fire liability, bankruptcy PG&E and other utilities companies could be protected from possible bankruptcy by a measure being introduced in California’s legislature. The measure, which is being introduced by Assemblyman Chris Holden, D-Pasadena, could shield the utilities companies from billions of dollars in liability that are suspected to be linked to 2018’s destructive string of wildfires. Holden chairs the state Assembly Utilities and Energy Committee. (CBS)
I'm sure his pension plan, along with about a million other public sector employees in CA, are heavily weighted with PGC. Just a thought.
Report puts losses from California wildfires at $15B to $19B The report from industry data provider CoreLogic shows total losses from the Camp Fire are estimated to be between $11 billion and $13 billion. Total losses from the Woolsey Fire in Southern California are estimated to be an additional $4 billion to $6 billion. (Insurance Journal)
Federal judge questions PG&E about role in latest California wildfires A federal judge in San Francisco overseeing Pacific Gas and Electric Co.'s (PG&E) probation following its criminal conviction in the fatal September 2010 San Bruno natural gas pipeline explosion, demanded answers this week about the utility's role in the deadly wildfire in Northern California that has killed scores of people. (Natural Gas Intelligence)
Modeler: Insured losses from Camp Wildfire in California at $6B to $9B Catastrophe modeling firm AIR Worldwide estimates that industry insured losses from the Camp Fire in Northern California will be between $6 billion and $9 billion. Taken together with the Woolsey fire in Southern California, AIR estimates industry insured losses to total between $9 billion and $13 billion. (Insurance Journal)
PG&E expanding wildfire prevention, Camp Fire rebuilding efforts Reacting to consecutive years of devastating wildfires, Pacific Gas and Electric Co. (PG&E) has rolled out an expanded program to decrease threats and support rebuilding in the Camp Fire area of Northern California, including the destroyed town of Paradise. (Natural Gas Intelligence)
PG&E falsified gas pipeline records for years after deadly explosion, regulators say Pacific Gas & Electric Co. continued to commit pipeline safety violations in the years after a gas explosion that killed eight people in the Bay Area suburb of San Bruno, regulators said Friday as they launched a new investigation into California’s largest utility. (Los Angeles Times)