Anyone buying PG&E stock?
Re: Anyone buying PG&E stock?
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.
- AbelArcher
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Re: Anyone buying PG&E stock?
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.
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Re: Anyone buying PG&E stock?
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.
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Re: Anyone buying PG&E stock?
Solar is looking better and better in PG&E territory.
"One should invest based on their need, ability and willingness to take risk - Larry Swedroe" Asking Portfolio Questions
Re: Anyone buying PG&E stock?
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?Grt2bOutdoors wrote: ↑Sat Oct 26, 2019 3:24 am Solar is looking better and better in PG&E territory.
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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.
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Re: Anyone buying PG&E stock?
Re: Anyone buying PG&E stock?
Robinhood users appear to be buying all the PCG dips
https://robintrack.net/symbol/PCG
https://robintrack.net/symbol/PCG
Re: Anyone buying PG&E stock?
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.samsdad wrote: ↑Sat Oct 26, 2019 7:20 amIn 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?Grt2bOutdoors wrote: ↑Sat Oct 26, 2019 3:24 am Solar is looking better and better in PG&E territory.
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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.
Semper Augustus
Re: Anyone buying PG&E stock?
Good responseAbelArcher wrote: ↑Sat Oct 26, 2019 2:20 amOf 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.
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Re: Anyone buying PG&E stock?
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.
Re: Anyone buying PG&E stock?
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.
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.
Answering a question is easy -- asking the right question is the hard part.
Re: Anyone buying PG&E stock?
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
PG&E ‘criminally liable’ in 2020’s fatal Zogg Fire in California, Shasta prosecutor says
https://www.sacbee.com/news/california/ ... 31368.html
Re: Anyone buying PG&E stock?
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.
- nisiprius
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Re: Anyone buying PG&E stock?
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.
Annual income twenty pounds, annual expenditure nineteen nineteen and six, result happiness; Annual income twenty pounds, annual expenditure twenty pounds ought and six, result misery.
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Re: Anyone buying PG&E stock?
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.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
"One should invest based on their need, ability and willingness to take risk - Larry Swedroe" Asking Portfolio Questions