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Fri Mar 29, 2019, 05:24 PM

'California deserves better.' Gavin Newsom rips PG&E plan that would 'prioritize' profits

Gov. Gavin Newsom accused PG&E Corp.’s top executive Thursday of paying lip service to public safety, saying the troubled utility is planning to stock its board of directors with hedge-fund managers and others interested only in “prioritizing quick profits.”

In a blistering letter to interim Chief Executive Officer John Simon, the governor belittled PG&E’s plan to overhaul its board of directors and said the company is ignoring candidates with experience in wildfire safety.

“I am troubled to learn that PG&E is primed to reconstitute its board with hedge fund financiers, out-of-state executives and others with little or no experience in California and inadequate expertise in utility operations, regulation and safety,” Newsom wrote.

“With this move, PG&E would send a clear message that it is prioritizing quick profits for Wall Street over public safety and reliable and affordable energy service,” Newsom added. “Time and again, PG&E has broken the public trust and its responsibilities to ratepayers, wildfire victims, and employees. This board appears to be more of the same.”

Read more: https://www.sacbee.com/news/state/california/article228542594.html

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Reply 'California deserves better.' Gavin Newsom rips PG&E plan that would 'prioritize' profits (Original post)
TexasTowelie Mar 2019 OP
Control-Z Mar 2019 #1

Response to TexasTowelie (Original post)

Fri Mar 29, 2019, 06:05 PM

1. Thank you Governor Newsom!

Governor Brown did such a great job for California I was worried that it would be difficult for anyone to fill his shoes. I feared we were so spoiled by him we would suffer the same fate as our country after 8 wonderful years of President Obama. That would have added insult to injury for Californians.

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