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California utility company PG&E Corp is exploring filing some or all of its business for bankruptcy protection as it faces billions of dollars in liabilities related to fatal wildfires in 2018 and 2017, people familiar with the matter said on Friday.
The company is considering the move as a contingency, in part because it could soon take a significant financial charge for the fourth quarter of 2018 related to liabilities from the blazes, the sources said.
A bankruptcy filing is not certain, the sources said. The company could receive financial help through legislation that would let it pass on to customers costs associated with fire liabilities, the sources said. But that is just a possibility, they said, so bankruptcy preparations are being made.
(Score: 2) by Farkus888 on Monday January 07 2019, @07:50PM
So the power company needs to pay for the people suffering and damage. They can't afford it so the government will give them the money. That money has to come from somewhere so the people, same people as in the beginning, get taxed. At least they have created a lot of government jobs in the Doing Something™ industry.
Do these people truly not understand why there are so many small government Republicans running around?