Its no secret that to many California consumers, this winters Chapter 11 bankruptcy filing by Pacific Gas & Electric Co. looks as phony as a $3 bill.
Thats because bankruptcy filings are intended to protect companies and individuals whose financial survival is threatened. There is no evidence this states biggest utility is in such deep trouble right now.
Yes, PG&E has other kinds of trouble. It was convicted of criminal negligence in the 2010 San Bruno natural gas pipeline explosion that killed eight persons. A federal judge supervising the companys probation in that case accuses the company of killing people. It faces myriad lawsuits claiming it caused much of the damage done by the massive wildfires of the last two years.
But with a re…
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