Program Agreement - Csu, Chico: Fill & Download for Free

Well, I’m not sure how your suggestion might become real but yes, PG & E should be restructured.I don’t want to go into a long answer here save to say I’ve followed PG & E as a corporation since graduate business school.Long answer short:PG&E was a “blue chip stock “ since the 1960s and 1970s and before then; Everyones’ retirement account had PG&E stock in it along with Georgia Pacific and GE; as a stock investment - Stable income; Stable stock price; stable dividend; PG&E was managed by civil engineers and electrical engineers;In the 1970s, wall street started to buy PG&E stock for these very reasons; Most utilities - from an investing viewpoint - are sleep[y investments which provide a sure steady dividend income since they are regulated by the FTC as monopolies in their respective communities..Again, steady income - stable return on investment;Wall street ( the investment house shall remain unnamed) started to buy blocks of PG&E stock ( a block of stock is 10,000 shares) and along with those purchases came voting rights on the board of directors;Soon Wall street had the majority of voting rights on the board of directors; Now Wall street had control of who became the CEO and President of PG & E;Now Wall Street controlled PG&E; And Wall street wanted a higher return on investment on the country’s largest utility; How do you do that?By reducing investment in maintenance;So PG&E went on a cost reduction program by reducing expenses in maintenance;Profits went up; the stock price went up; dividends went up; everyone was happy:Riiiiiight!?!?!?Then, eventually came San Bruno. Ca. 2009; 8 People died and some 40+ homes were destroyed in a cataclysmic explosion because of a faulty (48′ diameter) high pressure gas supply line that failed and ignited; PG&E later couldn’t produce maintenance records to account for the supply line; And the ones they did provide were later found to be falsified;The CPUC _ California Public Utility Commission - whose duty is to regulate California’s utilities - was scrutinized over it’s role in the disaster; Turns out the Commission was headed by a former PG&E utility executive who received payments from PG&E while heading the Commission;But wait. It gets better.Now PG&E has gotten away with 8 counts of involuntary manslaughter. No criminal charges were ever brought against any PG&E officers;Fast forward;The 2009 CAMP Fire; Paradise , Ca. This fire is particularly personal for me; I visited Paradise a couple of times as a grad student while attending CSU, Chico.The town of Paradise is 90% destroyed - burnt to the ground - because of faulty PG&E power lines; 80+ lives are lost;Fast forward: PG&E “Confesses IN COURT to killing 84 people in 2018 fire: Families of Wildfire Victims Slam PG&E for Crimes ((The Daily Journal, Thursday, June 18th 2020);’“The families of some of the 85 people killed by a horrific Northern California wildfire ignited by PG&E long neglected equipment vilified the company, Wednesday, as greedy , corrupt and reckless, telling heartbreaking stories of their loss in court. (The Daily Journal, Thursday, June 18th, 2020;)Epilogue:To date. no one in the employ of PG&E has ever been indicted, tried, nor convicted in court and sentenced to prison for their role in the tragedy that is PG&E.There were efforts to break up PG&E into smaller corporate entities because it is the largest utility in the nation; that motion failed;PG&E has since filed for bankruptcy and the State of California has accepted it’s terms to re-emerge and to continue to do business in it’s current corporate configuration.PG&E was ordered to pay $85 billion dollars in restitution as part of it’s bankruptcy agreement.Stay tuned;