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PG&E Corporation (NYSE:PCG) is an industry leader in arson and manslaughter. They also do something with electricity. PCG filed for bankruptcy in January of 2019 after they were unable to pay ...
The Pacific Gas and Electric Company (PG&E) is an American investor-owned utility (IOU). [2] The company is headquartered at Kaiser Center, in Oakland, California.PG&E provides natural gas and electricity to 5.2 million households in the northern two-thirds of California, from Bakersfield and northern Santa Barbara County, almost to the Oregon and Nevada state lines.
In this Bankruptcy Practice column, John J. Rapisardi and Daniel Shamah write: The challenges PG&E has faced since wildfires began consuming large swaths of California are well-known and has ...
Initially, it was unknown whether or not PG&E was at fault for the fire. [39] In a filing with the Securities and Exchange Commission (SEC), PG&E estimated a minimum loss of $600 million before available insurance. [40] On July 16, 2020, which was after PG&E exited bankruptcy, Cal Fire reported that the fire was caused by PG&E transmission lines.
The next day, PG&E announced its plans to file for Chapter 11 bankruptcy. [12] [13] Michael Hiltzik, writing in a column for the Los Angeles Times, criticized Williams' performance as well as PG&E for providing a $10mm+ pay package, which included $2.6mm in severance pay, when Williams left as the company prepared to enter bankruptcy. In 2018 ...
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On April 22, 2020, it was publicly announced that Johnson would be retiring from PG&E. [14] On June 16 2020, PG&E pled guilty in court to 84 felony counts of involuntary manslaughter, as PG&E's equipment was the cause of the 2018 Camp Fire in California. No individual PG&E management person or other employee was held criminally liable.
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