Anyone buying PG&E stock?

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OnTrack
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Re: Anyone buying PG&E stock?

Post by OnTrack »

Not me. Seems like they are in a lose/lose situation. Leave power on and they get sued for causing fires. Turn power off and they get sued for the impact of loosing power. And when they do turn off the power they are losing lots of revenue.
Last edited by OnTrack on Sat Oct 26, 2019 12:03 pm, edited 1 time in total.
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AbelArcher
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Re: Anyone buying PG&E stock?

Post by AbelArcher »

OnTrack wrote: Sat Oct 26, 2019 2:10 am Not me. Seems like they are in a loose/loose situation. Leave power on and they get sued for causing fires. Turn power off and they get sued for the impact of loosing power. And when they do turn off the power they are losing lots of revenue.
Of course, if PG&E were to focus on acquiring a substantial amount of wrenches, they could easily turn it into a tight/tight situation. As for now, I wouldn't make a moove on the stock.
Northern Flicker
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Re: Anyone buying PG&E stock?

Post by Northern Flicker »

aristotelian wrote: Fri Oct 25, 2019 3:10 pm Too big to fail. It's gotta be, right?
PG&E will still be around. Most likely the current stockholders (including anyone who buys some of the current stock) will be wiped out, and there will be an IPO to capitalize a new version of the company with different stockholders so that it can emerge from bankruptcy as a new company with the same name and business as the old one.
Grt2bOutdoors
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Re: Anyone buying PG&E stock?

Post by Grt2bOutdoors »

Solar is looking better and better in PG&E territory.
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samsdad
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Re: Anyone buying PG&E stock?

Post by samsdad »

Grt2bOutdoors wrote: Sat Oct 26, 2019 3:24 am Solar is looking better and better in PG&E territory.
In my vast daily perusal of the internet, I thought I skimmed an article a month ago or so that even the solar citizens were affected by these blackouts. It had to do with not being able to charge their EVs iirc. Maybe I’m mistaken?
______
Edit: I guess this is where I read it:https://finance.yahoo.com/news/californ ... 36244.html
It appears that batteries are needed to store the electricity, otherwise the solar power just goes to the grid.
aristotelian
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Re: Anyone buying PG&E stock?

Post by aristotelian »

AlohaJoe wrote: Sat Oct 26, 2019 2:03 am
aristotelian wrote: Fri Oct 25, 2019 3:10 pm Too big to fail. It's gotta be, right?
Why? Was GM too big to fail? How about Fannie & Freddie?

Just because the company gets propped up is no guarantee that shareholders don't get wiped out.
That was supposed to be sarcastic.
ChrisBenn
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Re: Anyone buying PG&E stock?

Post by ChrisBenn »

Robinhood users appear to be buying all the PCG dips :D
https://robintrack.net/symbol/PCG
Teague
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Re: Anyone buying PG&E stock?

Post by Teague »

samsdad wrote: Sat Oct 26, 2019 7:20 am
Grt2bOutdoors wrote: Sat Oct 26, 2019 3:24 am Solar is looking better and better in PG&E territory.
In my vast daily perusal of the internet, I thought I skimmed an article a month ago or so that even the solar citizens were affected by these blackouts. It had to do with not being able to charge their EVs iirc. Maybe I’m mistaken?
______
Edit: I guess this is where I read it:https://finance.yahoo.com/news/californ ... 36244.html
It appears that batteries are needed to store the electricity, otherwise the solar power just goes to the grid.
Apparently unless you have battery storage (expensive still) the solar system will not power your house during a power outage. My understanding is this is necessary to avoid "energy islands" - unpredictable sections of energized power line - which would endanger utility workers.
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OnTrack
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Re: Anyone buying PG&E stock?

Post by OnTrack »

AbelArcher wrote: Sat Oct 26, 2019 2:20 am
OnTrack wrote: Sat Oct 26, 2019 2:10 am Not me. Seems like they are in a loose/loose situation. Leave power on and they get sued for causing fires. Turn power off and they get sued for the impact of loosing power. And when they do turn off the power they are losing lots of revenue.
Of course, if PG&E were to focus on acquiring a substantial amount of wrenches, they could easily turn it into a tight/tight situation. As for now, I wouldn't make a moove on the stock.
Good response :happy
nervouscorps
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Re: Anyone buying PG&E stock?

Post by nervouscorps »

I live in the PGE service area and given what I see, I wouldn't have to stomach to buy it. It is a company everybody hates and is likely to come up in daily conversation with your neighbors. I can't think of a more risky stock to buy. I'd buy GE before I would buy this thing.
CurlyDave
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Re: Anyone buying PG&E stock?

Post by CurlyDave »

The real problem with PG&E is that supplying dispersed power to million of homes, farms and industries is a serious engineering business, with serious engineering challenges.

BUT, they are now being supervised by a legislature whose entire engineering experience with electric power is that some of them once plugged in a washing machine. And, they have no personal financial interest in the success of PG&E.

But wait! It gets worse. Many of the legislature have a heartfelt belief that the State can take over and run things better and more smoothly than PG&E.

IMHO this is going to produce a disaster -- we are headed for State control with even more political problems. And a good chance that a State run electric utility will partially morph into a jobs program for those who the legislature considers "deserving".

I would rather peer into hell with a telescope than invest in PG&E.
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F150HD
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Re: Anyone buying PG&E stock?

Post by F150HD »

And it keeps going....

PG&E ‘criminally liable’ in 2020’s fatal Zogg Fire in California, Shasta prosecutor says

https://www.sacbee.com/news/california/ ... 31368.html
Firemenot
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Re: Anyone buying PG&E stock?

Post by Firemenot »

I wouldn’t touch that radioactive stock. And not to get too much into politics but there are so many government mandates that it makes running the business really challenging — and not like they’ve done a good job even with those obstacle. Many have argued that all of the “green” mandates starved PG&E of the necessary capital to do maintenance, the lack thereof which led to fires. Whether that’s entirely accurate, I don’t know.
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nisiprius
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Re: Anyone buying PG&E stock?

Post by nisiprius »

aristotelian wrote: Fri Oct 25, 2019 3:10 pm Too big to fail. It's gotta be, right?
A government might decide that power generation mustn't stop, but the company itself it could still go through bankruptcy with current stockholders getting practically or literally nothing.

And it isn't all that big. It isn't a megacap. It isn't a huge part of the stock market. Even in 2017 when the stock price was 7X what it is today and it was in the S&P 500, it wasn't a megacap.

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Grt2bOutdoors
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Re: Anyone buying PG&E stock?

Post by Grt2bOutdoors »

F150HD wrote: Fri Jul 30, 2021 5:56 pm And it keeps going....

PG&E ‘criminally liable’ in 2020’s fatal Zogg Fire in California, Shasta prosecutor says

https://www.sacbee.com/news/california/ ... 31368.html
They can make statements but the thing is the courts must find for them and that is what the judicial system is for, to have a fair hearing in a non partial setting, not in the newspapers where proclamations can be made but the courts is where the real judgement lies. Fair disclosure, I directly own a few lottery tickets in this name.
"One should invest based on their need, ability and willingness to take risk - Larry Swedroe" Asking Portfolio Questions
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