California utility PG&E faces billion$ in fines, lawsuits for wildfire death and damages


Click to enlargeDavid Paul Morris/Bloomberg

❝ Late Friday, California confirmed what many across the state’s devastated wine country had suspected for months: Equipment owned by utility giant PG&E Corp. ignited some of the deadliest and most destructive wildfires that tore through their homes in October.

The most unexpected and crucial part of the findings, though, was at the very bottom of California’s end-of-day statement: The state had found evidence of alleged violations of law by PG&E in connection with eight of the blazes…

❝ That evidence — which California’s fire agency has now sent to county prosecutors — could make or break PG&E in the dozens of lawsuits over the Northern California fires that altogether killed 44 people, consumed thousands of homes and racked up an estimated $10 billion in damages. The alleged violations could also expose PG&E to criminal charges only two years after the San Francisco company was convicted of breaking safety rules that led to a deadly gas pipeline explosion in San Bruno, California.

I have no idea what portion of American corporations are dumb enough to think that skipping safety requirements to save a buck or two ever pays off over time. PG&E has to be as short-sighted as derivative investors in 2007 – or Trump voters.

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