Pacific Gas and Electric Company (PCG-PH)

boy o boy

what a wallop to shareholders after hours today from pending legal action, i guess?

driving down a 2 lane paved highway, i actually witnessed one of their old transformers explode into sparks, smoke and flames, on a power pole in the mojave desert near amboy califonia about 2 years ago. broad daylight, no wind, no rain, no lightening.

i immediately phoned 911.

i imagine that it must be an enormous task for a company of pg&e's vast geographical service area, to inspect, maintain, repair and replace hundreds of thousands of pieces of equipment over tens of thousands of miles of overhead and undergound systems.

i wonder, if the rural service areas especially, (paradise fire) may be operating with a certain amount of aged, worn, and possibly obsolete equipment?

if this is in fact the case, and it is proven in court, and if there is knowledge or negligence of the company, its board, or management, i don't think pg&e will be able to survive w/o a major reorganization or government intervention, or receivorship.

there may be HUGE short positions being taken very very soon.

NBC news tonight
Regulators slam PCG
For bidding the truth

PCG news is going to slam the stock tomorrow
Snailbait and Nicky 1 share buys will not help