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PGE Considers Changes in Corporate Structure

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PGE Considers Changes in Corporate Structure

PGE Considers Changes in Corporate Structure

PG&E may file for bankruptcy and/or restructure their corporation due to possible liability from the Camp Fire.


PGE Considers Changes in Corporate Structure

Head out.

Alan alan big changes could be coming to pg&amp;e, which announced today it is conducting a review of its finances and corporate structure.

Lauren lauren and while pg&amp;e did not elaborate, there are news reports tonight that the utility giant is considering breaking up the company, or - perhaps bankruptcy.

Reporter andria borba takes a look.

Pkg two bombshell reports about the potential future of pacific gas and electric.

The first - from npr - saying pg&amp;e is considering selling off it's natural gas division.

That is news to state senator jerry hill.

State sen.

Jerry hill(d) - san mateo "they were doing that at the exact same time they were trying to fool the legislature.

The narrative was, either bankruptcy or bailout.

The legislature gave them a bailout and at the same time, they didn't come forward, weren't honest - weren't showing the best integrity but not telling that they were looking at an alternative way of the liability the other report - from reuters - that the utility giant is preparing for a bankruptcy filing due to mounting liability from the deadly camp fire that destroyed much of paradise.

Amanda riddleattorney if pg&amp;e declares bankruptcy, it is pg&amp;e essentially saying that they care more about saving the behinds of the executives than compensating all the people they victimized.

It sends a message that pg&amp;e is not willing to do the right thing and compensate all of these people it's harmed.

Since the camp fire began - pg&amp;e's stock value has taken a nearly 60 percent nose dive..

To 19 dollars a share tonight.

State senator hill thinks breaking up the utility is the correct move.

By spinning off their gas and electric systems, they will become a size they can manage.

I think what we've seen over the last few years is they've become too big to succeed.

Millbrae attorney amanda riddle represents more than 700 camp fire victims who lost homes - to flames that pg&amp;e equipment is under investigation for sparking.

She says bankruptcy only harms those folks even more - likely leaving many without enough money to rebuild.

The victims would be compensated nowhere near what they should be entitled to in a court of law.

Today - in a statement pacific gas and electric spoke about refreshing their board and looking at structural options.

State senator hill is wary of any decision the utility makes.

Pg&amp;e will do whatever is in their best interests, regardless of anything else.

On cam tag alan alan investigators have not determined the cause of the camp fire, but the company itself has reported major damage to a high voltage line at the spot the fire started near pulga.


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