Fuck PG&E. If they can't protect the public they should sell their business to the state.

[Auggie]

It's capitalism run amok.

Now they want a bankruptcy stress test by California regulators to determine just how big a financial blow the utility can survive if they have to pay restitution to wildfire victims!

Screw them. Let the People of California take over. We can temporarily make a modest enough of a profit to help victims recover, bury undergound power lines in high-risk areas, and update existing infrastructure.

We need a state-owned public utility.

Capitalism and profiteering of this kind cannot meet the challenges of climate change.

https://www.sfchronicle.com/business/article/PG-E-could-get-bankruptcy-stress-test-in-13189313.php

[Pachamama]

1. +1000

Completely Agree

[BeatStanford]

2. Would that it were that easy...but a profitable opportunity presents itself

Policy limits are 800M. Absent trial, the cap won’t be busted. The individual plaintiffs will go away for what they can get, and it isn’t that much. Rather, most governmental claims are apt to be consolidated under the sway and auspices of the AG. We all know that Xavier Becerra does not see himself as AG forever. The time will come when he will announce settlement at “A BIG ASS NUMBER.” His concern will not be the value of the case, merits, etc. Rather, timing. He will need a number before he is out of office and the defendants can easily delay matters until then.

There real life precedent <i>viz</i> Chuck Quackenbush and Credit Suisse and Camel Harris and the mortgage actions. Both settled for pennies, but the public servants got their pressers.

Take a look at the PCG Jan 2020 call at strike price 52.5. Get in now, last month would have been better, but I believe we can find solace in some green therapy.