Thursday, January 24, 2019

PG&E Off Hook For Tubbs Fire

PG&E is scheduled to file for Chapter 11 Bankruptcy due to wildfires next week
With billions of dollars in liabilities from home owners and insurance companies to seek
But in the case of Tubbs fire in 2017 billions removed from going after PG&E’s vault
A recent state report stated that a private electrical system not PG&E was at fault
Good news for PG&E bad news for the bankruptcy bar
Millions in fees no longer to be had in the bankruptcy legal fees bazaar
PG&E on the news saw its stock jump up thirty percent
Pure manna from heaven to its stockholders sent
Even with this relief
The company still faces grief
The California PUC has charged that company for five years submitted false pipeline safety and maintenance reports
Which will mean more equipment and personnel to insure that in the future its operations do not come up short
Penny wise pound foolish to on maintenance and safety scrimp
The goal of sustained rising profits such acts will severely crimp   
 © January 24, 2019 Michael P. Ridley aka the Alaskanpoet  

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