PG&E Monday filed a Chapter 11 bankruptcy reorganization plan in another step to, among other efforts, compensate wildfire victims, PG&E officials said.
The San Francisco-based company said the plan filed Monday will not raise or lower customers’ rates while compensating wildfire victims “fairly.”
PG&E’s liability would be limited to $17.9 billion if the court approves the plan.
Wildfire victims and certain public entities would receive no more than $8.4 billion.
PG&E is trying to reorganize before June 30, 2020, so the company can participate in the state’s newly-established wildfire fund.
From Barron’s dot com website page for PG&E Corp.
Revenue Per Employee $698,292
Shares of stock outstanding 529.21M
Institutional ownership 89.81%
Scroll down to Major Holders tab and explore a little.
https://www.barrons.com/quote/stock/us/xnys/pcg?mod=DNH_S
Who are liberal politicians in Sacramento going to take care of first ? ? ?
So they’re going through reorganization not to get rid of incompetence, nepotism, and unmanaged infrastructure that causes wild fires but to get their grubby claws on fed money.
Hey wait a minute now!!! They received the prize for being the most diverse employer. Qualifications no longer matter, Gender & Race over job abilities and skills.
Now you know what happened with Boeing and their diverse built 737MAX.
It’s all about “feeling good about yourself.”
To hell with the shareholders and the customers.
They claim safety and reliability are most important…..BS!
Yep. And, out of the goodness of their hearts, they are proposing to pay the fire victims 50 cents on the dollar for their losses! What a crock! No surprise though. The court will approve it!
I translate corporate speak, compensating someone fairly means f’ing them over so the C suite crew can still get 7 and 8 digit bonuses. You’re welcome.