A year after PG&E Corp. funded a trust to compensate victims of California wildfires with company stock, most have yet to be paid, and the shares have fallen in value after the utility acknowledged it might have startedAs part of its plan to exit bankruptcy last year, the San Francisco-based company agreed to use cash and stock to fund a $13.5 billion trust to compensate roughly 70,000 individuals who lost homes, businesses and family members in fires sparked by its equipment.
Those concerns so far have proved prescient. PG&E shares are worth approximately the same as when the trust was funded, threatening victims’ ability to receive full compensation. Their value is down roughly 25% this year and fell steeply last month when the company disclosed that its equipment might have ignited
And they still havrennt made use of new technologied to prevent future fires. Compsnies pretend new tech doeent exist too exoensive just download true costs of inaction to public
Can someone explain what I’m missing here? Did all of these people not carry HO insurance? Not trying to be snide here—genuinely curious
Hinkley, CA now this. PG&E I am surprised they are still around. Some brother of some brother in law really has some pull. PG&E needs to be taken over and every upper management needs to live under their powerlines and drink and bath in the water they polluted
Oh well...I guess the liberals and their mismanagement of forests is something they have to deal with.
PG&E is a corrupt entity that needs to be dissolved, period. They are threat to public safety. Did you think Erin Brokovitch was just a fictional movie?
This guy helped orchestrate the settlement.
from the company that brought you san onofre
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good luck
Ah yes, the mismanaged and tinder dry landscape was ravished by a slightly old cable from a utility company. Only they could have caused this.
DSA
Thank the Governor
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