PG&E could face murder charges for role in wildfires
PG&E could face murder charges for role in wildfires
PG&E Reportedly Eyeing Breakup, Bankruptcy In Wake Of Multiple Devastating Wildfires
08 January, 2019, 05:27
But the preparations could put pressure on California politicians hoping the company can avoid such an outcome.
Under California law, PG&E is held entirely liable if lawyers can prove the fire is linked to the utility's power lines or other equipment, a fact that sent shares of the company tumbling following the start of the fire.
The San Francisco-based company has lost more than half its market value since the deadliest wildfire in California history broke out in early November.
PG&E declined to comment, saying it doesn't speak about "market rumor or speculation".
State Senator Jerry Hill, an outspoken PG&E critic, said the utility previously raised the possibility of a bankruptcy filing as leverage when seeking state assistance in paying its wildfire liabilities.
PG&E, whose shares have lost almost half of their value since the wildfire, said it is working with a leading search firm to identify new directors and is interviewing several candidates.
PG&E faces potential penalties in the billions from legal action related to 2017 and 2018 California wildfires. The federal judge is overseeing PG&E's probation involving the 2010 San Bruno, California, gas line explosion. "We recognize the need to balance the interests of many stakeholders while maintaining safe, reliable and affordable services for our customers, which is always our top priority", the company said in a statement. Lawmakers were in talks late previous year for legislation to protect the company from liabilities related to the 2018 fires. "We argue bankruptcy may be a substantive solution for several of PCG's woes, and should be considered a credible risk by shareholders".
"While we think that sufficient support for such a bill could eventually be rallied, exploitive tactics and a reticence toward change will not improve PCG's public profile and will not significantly accelerate the process for legislation", the two analysts wrote, referring to the company's ticker.
"We want to tap fresh perspectives and additional expertise to help address the changing nature of PG&E's business and the challenges it faces now and in the future", the board said in a statement.
The lawsuits filed by Allstate, State Farm, USAA and their subsidiaries come on top of several other cases filed by victims of the Camp Fire, which devastated the towns of Paradise, Magalia and Concow north of Sacramento after it started November 8.
PG&E is also exploring selling its gas unit, potentially through a court-supervised auction during bankruptcy proceedings, one of the sources said.
"Without adequate political and regulatory support, we can not rule out a Chapter 11 filing", Christopher Turnure analyst at J.P. Morgan said in a note.
New Orleans Saints defensive coordinator Dennis Allen is the third candidate to interview for the Miami Dolphins' coaching job. Allen went 8-28 as head coach of the Oakland Raiders before he was sacked four games into the 2014 season.
The family of five died in a catastrophic auto accident in Kentucky on route home after a vacation trip to Florida . They had three children, 14-year-old Ali Abbas , 13-year-old Isabella Abbas , and 7-year-old Giselle Abbas .
President Donald Trump is scheduled to be at Camp David for a retreat with White House staff on border security and other topics. Obama in 2005 saying , "We simply can not allow people to pour into the United States undetected, undocumented, unchecked".
A BABY was filmed clinging onto the roof of a vehicle while his mum drove completely unaware for at least ten minutes. The driver stopped the auto after other motorists got their attention and the child was removed from the roof.
Kelly's rise in the industry and the impact of his music, including the Space Jam hit, "I Believe I Can Fly". Kelly as manipulative, violent, and focused on young girls, allegedly demanding they call him "daddy".
The UK's central bank has warned that Britain's gross domestic product could shrink by up to eight percent in such a scenario. When the undecided and those who refused to answer were removed from the sample, the split was 54-46 in favour of remaining.
A single-day ticket for Disneyland or California Adventure park goes from $97 to $104 for so-called low-demand days. Don't expect Disneyland to get less crowded, says Robert Niles, editor of ThemeParkInsider.com .
Brady, now equipped with a beefed-up power running game at his disposal, is rested and still unsafe as a distributor. But the added element of the snow would most certainly make the game more intriguing and aesthetically pleasing.
Appearing in his second Maharashtra Open final-after finishing runners-up last year-Anderson lived up to the occasion in style. With their average serve speed almost touching 200 km/h, the crowd started to get behind Karlovic with the "Ivo".
"It will be announced probably in the not too distant future", Trump said Sunday about the location of the second summit. Officials from the Blue House in Seoul could not immediately be reached for comment by AFP.
Ali Bongo succeeded his father Omar Bongo in 2009 and narrowly won re-election in 2016 amid violence and accusations of fraud . The government in Gabon has said four of the soldiers who attempted to seize power in a coup on Monday, had been arrested.
Now, a biopic on Prime Minister Narendra Modi
We must say that Vivek Oberoi, who would be using his full name for the first time, looks nearly unrecognisable in the poster. We wish the film releases tomorrow but we know it is going to be a very hard process and you will have to take it seriously.
Kevin Spacey in court on groping charge
Spacey did not enter a plea during today's hearing, but he has maintained his innocence and promised he would be vindicated . He's accused of groping the son of a former Boston TV anchor in a crowded bar on the small MA island.