Category Archives: PG and E

The Ratings Game: PG&E

Posted on December 1, 2019 by | Leave a comment

This is an update to our January 8, 2019 posting.

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Worth pointing out, PCG is dropped from the S&P 500 index at the low.

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Posted in PCG, PG and E, Sell low

PG&E: Bankruptcy Was All Too Predictable

Posted on January 14, 2019 by | Leave a comment

On January 14, 2019, it was announced that PG&E (PCG) would file bankruptcy on January 29, 2019.

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All along, we have felt that the actions of PG&E shortly before their bankruptcy filing in 2001 was done in the most disingenuous fashion reflecting their culture.  This explains why we posted a September 4, 2011 blurb titled “PG&E Fleeces Investors and Consumers Alike.”

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We expect that PG&E will easily achieve the 2001 low.  When and if PG&E emerges from bankruptcy, we believe that any short-term gains are not worth the long-term instability that is a common feature of the company and the stock.

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Posted in PG and E, The Study of Failure

The Ratings Game: PG&E

Posted on January 8, 2019 by | Leave a comment

In the chart below, we’ve highlighted various organizations that have given a sell rating on Pacific Gas & Electric (PCG).

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For our money, when the rating agency gives a “junk” status that is considered the equivalent of a “sell” rating for institutional/long-term investors in PCG bonds.

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Posted in PCG, PG and E, The Rating Game

PG&E fleeces investors and consumers alike

Posted on September 4, 2011 by | Leave a comment
On August 30, 2011, the National Highway Safety Board (NHSB) issued a report (report here) on the pipeline "accident" in San Bruno, California where numerous homes and lives were lost due to negligence on the part of PG&E (PCG).  The NHSB cited at least 28 issues with the way PG&E inappropriately handled the gas pipelines under their control.
 
This reminds us of the “ring-fenced” strategy that PG&E (PCG) employed just before filing bankruptcy in 2002 (our reference and citation here).  The Federal Energy Regulatory  Commission (FERC) approved a plan from PG&E to shelter it’s profitable assets and only included the money losing divisions in the bankruptcy proceedings.
 
Again, PG&E (PCG) has managed to stick it to both the investors and consumers.

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Posted in FERC, NHSB, PG and E