by Bob Walsh
Pacific Gas and Electric has announced that one half of its board members will NOT be running for reelection this coming may. Possibly even more than that will bail.
PG&E has potential liability of as much as $30 billion for the wild fires that destroyed much of the formerly great state of California over the last few years.
There stock, which had recently been circling the junk drain, is now up to $14.33.
1 comment:
The thing about a long standing utility is that their infrastructure has to remain in place in order to provide the service. They will either be bailed out to continue to provide service or they can be bought when they bottom out. Either way it will survive.
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