Saturday, 19 January, 2019


PG&E could face murder charges for role in wildfires

Camp Fire: PG&E gets sued by insurance companies PG&E Reportedly Eyeing Breakup, Bankruptcy In Wake Of Multiple Devastating Wildfires
Conrad Doyle | 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.

Recommended

loading...
...
  • Dolphins interview Patriots defensive coordinator Brian Flores

    Dolphins interview Patriots defensive coordinator Brian Flores

    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.
    Michigan Family Of 5 Killed In Kentucky I75 Crash

    Michigan Family Of 5 Killed In Kentucky I75 Crash

    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 .
    Trump could compromise over concrete wall on Mexico border, says top aide

    Trump could compromise over concrete wall on Mexico border, says top aide

    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".
  • Australian mother charged after 4-year-old filmed riding on auto  roof

    Australian mother charged after 4-year-old filmed riding on auto roof

    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.
    R.Kelly’s songs sales increase amidst child abuse accusation

    R.Kelly’s songs sales increase amidst child abuse accusation

    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".
    Brexit: 'Uncharted territory' if United Kingdom  parliament votes no, says May

    Brexit: 'Uncharted territory' if United Kingdom parliament votes no, says May

    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.
  • Disneyland raises prices; cheapest daily ticket more than $100

    Disneyland raises prices; cheapest daily ticket more than $100

    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 .
    NFL Wild Card Sunday guide

    NFL Wild Card Sunday guide

    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.
    Anderson edges past veteran Karlovic to take Pune title

    Anderson edges past veteran Karlovic to take Pune title

    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".
  • Here's where the next Trump-Kim summit may take place

    Here's where the next Trump-Kim summit may take place

    "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.
    HP announces world’s first AMD-based Chromebook

    HP announces world’s first AMD-based Chromebook

    For wider connectivity, the Acer Chromebook 315 is compatible with Wi-Fi 802.11ac standards. It will be available for purchase in North America in February with a price tag of $279.
    Gabonese Military Overthrows President Ali Bongo

    Gabonese Military Overthrows President Ali Bongo

    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.

Hulk Hogan is returning to Monday Night Raw this week Hulk Hogan is returning to Monday Night Raw this week On Wednesday afternoon, he shared a photo of himself and Okerlund from the 1980s, along with a heartfelt tribute. The tribute began with a 10-bell salute before Hogan's music hits.

Ex-Cabinet Secretary General Cho elected head of Taiwan's ruling DPP Ex-Cabinet Secretary General Cho elected head of Taiwan's ruling DPP Taiwan's Democratic Progressive Party is traditionally views China warily and is pro-independence. Voting began Sunday morning, with preliminary results expected to be announced in the evening.

Now, a biopic on Prime Minister Narendra Modi 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.

Apple Updates AirPlay 2 Page with Upcoming TV Features Including Siri Control Apple Updates AirPlay 2 Page with Upcoming TV Features Including Siri Control Up until this week, it seemed as if Apple's upcoming original programming would be locked into its devices, such as the Apple TV. This could be a precursor to Apple's much-talked-about family-friendly video streaming service that's supposed to rival Netflix.

Stunning 312,00 jobs created in December, far above forecasts Stunning 312,00 jobs created in December, far above forecasts Powell said the US central bank was "always prepared to shift the stance of policy and to shift it significantly" if necessary. Average hourly earnings grew 3.2 percent over the past 12 months - topping the 3.1 percent increase in November.

'Yellow vest' boxer on the run after punching French policeman 'Yellow vest' boxer on the run after punching French policeman On Wednesday, a key figure in the yellow vests movement was arrested for allegedly organising an illegal demonstration. There were clashes between police and protesters on what was the first protest of the new year.

The pressure is now on Liverpool, claims City star Fernandinho The pressure is now on Liverpool, claims City star Fernandinho Van Gaal added: "Having said that, I am glad that City beat Liverpool because it has made this title race even more sensational". We were unlucky at times but that's absolutely OK because when City came to Anfield they missed a late penalty .

Robert Griffin III: I’d love to be back as Lamar Jackson’s backup Robert Griffin III: I’d love to be back as Lamar Jackson’s backup Even though his fifth field goal attempt was blocked in the third quarter, Badgley still scored the most points in the game. Chargers: CB Brandon Facyson missed the second half with a concussion.

Isis missile strike injures two SAS soldiers in Syria Isis missile strike injures two SAS soldiers in Syria The SDF reported capturing two Pakistani citizens in addition to the two Americans and the Irish citizen taken into custody. The ISIS fighters were preparing to attack civilians fleeing the area, the SDF said.

FA Cup Third Round Report: Manchester City v Rotherham United 06 FA Cup Third Round Report: Manchester City v Rotherham United 06 Philippe Sandler finally made his Manchester City debut in their comfortable 7-0 FA Cup win over Rotherham United. Guardiola stated this after Real Madrid signed Manchester City midfielder, Brahim Diaz on Sunday .

Nancy Pelosi elected House speaker, reclaims gavel to lead Democrats’ new majority Nancy Pelosi elected House speaker, reclaims gavel to lead Democrats’ new majority McConnell said the Senate would not take up any proposal that did not have a real chance of getting Trump's signature. Democrats now command a chamber of Congress for the first time since President Trump entered the White House in 2017.

Alien: Blackout will try to make you scream on Android this January Isolation , you'll need to "outsmart the ideal hunter by making perilous choices", shepherding the surviving crew to safety. It's coming to iOS and Android and is developed by FoxNext Games , D3 Go!, and Rival Games, as reported by Variety .

U.S. conducts latest South China Sea sail-by amid trade talks U.S.  conducts latest South China Sea sail-by amid trade talks I think the two sides need some kind of agreement for now", Tu said. The two sides plan to continue discussions on Tuesday.

Kevin Spacey in court on groping charge 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.

Apple iPhone XI might have the ugliest triple camera solution so far Apple iPhone XI might have the ugliest triple camera solution so far What's unclear is exactly what extra features we'll get from having an extra camera grafted onto the back of the phone. Forward-looking: 2019 might have just been thrust upon us, but it's never too early to start seeing new iPhone leaks.