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101 Ygnacio Valley Rd Ste 310 Walnut Creek





REBOB INVESTMENTS, LLC
CALIFORNIA DOMESTIC LIMITED-LIABILITY COMPANY
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Address:   101 Ygnacio Valley Rd Ste 310 Walnut Creek, CA 94596
Address Types:   Principal, Mailing, and Registered Agent
Registered Agent:   Lance M Geertsen
Filing Date:   February 23, 2007
File Number:   200705510006
Contact Us About The Company Profile For Rebob Investments, LLC


AEIVEOS SCIENCES GROUP, L.L.C.
WASHINGTON WA LIMITED-LIABILITY COMPANY
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Address:   101 Ygnacio Valley Rd Ste 310 Walnut Creek, CA 94596
Address Types:   Officer
Registered Agent:  
Filing Date:   March 01, 1996
File Number:   601694221
Contact Us About The Company Profile For Aeiveos Sciences Group, L.L.C.


JAKS CINEMA, LLC
CALIFORNIA DOMESTIC LIMITED-LIABILITY COMPANY
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Address:   101 Ygnacio Valley Rd Ste 310 Walnut Creek, CA 94596
Address Types:   Principal and Mailing
Registered Agent:   Natalie Delagnes Talbott
Filing Date:   May 23, 2013
File Number:   201314410104
Contact Us About The Company Profile For Jaks Cinema, LLC


GWL GLOBAL INVESTMENTS, LLC
CALIFORNIA DOMESTIC LIMITED-LIABILITY COMPANY
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Address:   101 Ygnacio Valley Rd Ste 310 Walnut Creek, CA 94596
Address Types:   Principal and Mailing
Registered Agent:   Natalie Delagnes Talbott
Filing Date:   March 26, 2014
File Number:   201408610347
Contact Us About The Company Profile For Gwl Global Investments, LLC


EASY STRIDE, LLC
CALIFORNIA DOMESTIC LIMITED-LIABILITY COMPANY
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Address:   101 Ygnacio Valley Rd Ste 310 Walnut Creek, CA 94596
Address Types:   Mailing and Registered Agent
Registered Agent:   Robert Bradley
Filing Date:   June 26, 2014
File Number:   201417810240
Contact Us About The Company Profile For Easy Stride, LLC


SITARAM, LLC
CALIFORNIA DOMESTIC LIMITED-LIABILITY COMPANY
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Address:   101 Ygnacio Valley Rd Ste 310 Walnut Creek, CA 94596
Address Types:   Principal, Mailing, and Registered Agent
Registered Agent:   Jennifer Drue
Filing Date:   August 19, 2015
File Number:   201523210043
Contact Us About The Company Profile For Sitaram, LLC


MHL LOGISTICS, LLC
CALIFORNIA FOREIGN LIMITED-LIABILITY COMPANY
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Address:   101 Ygnacio Valley Rd Ste 310 Walnut Creek, CA 94596
Address Types:   Principal and Mailing
Registered Agent:   Natalie D Talbott
Filing Date:   March 28, 2016
File Number:   201609610241
Contact Us About The Company Profile For Mhl Logistics, LLC


CAPITAL HOLDINGS V, LLC
CALIFORNIA FOREIGN LIMITED-LIABILITY COMPANY
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Address:   101 Ygnacio Valley Rd Ste 310 Walnut Creek, CA 94596
Address Types:   Mailing
Registered Agent:   Natalie Talbott
Filing Date:   October 28, 2016
File Number:   201630810261
Contact Us About The Company Profile For Capital Holdings V, LLC

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101 Ygnacio Valley Rd Ste 310 Walnut Creek, CA 94596

REBOB INVESTMENTS, LLC
CALIFORNIA DOMESTIC LIMITED-LIABILITY COMPANY
WRITE REVIEW
Address:  101 Ygnacio Valley Rd Ste 310
Walnut Creek, CA 94596
Address Types:  Principal, Mailing, and Registered Agent
Registered Agent:  Lance M Geertsen
Filing Date:  February 23, 2007
File Number:  200705510006
Contact Us About The Company Profile For Rebob Investments, LLC
AEIVEOS SCIENCES GROUP, L.L.C.
WASHINGTON WA LIMITED-LIABILITY COMPANY
WRITE REVIEW
Address:  101 Ygnacio Valley Rd Ste 310
Walnut Creek, CA 94596
Address Types:  Officer
Registered Agent:  
Filing Date:  March 01, 1996
File Number:  601694221
Contact Us About The Company Profile For Aeiveos Sciences Group, L.L.C.
Sponsored Links
JAKS CINEMA, LLC
CALIFORNIA DOMESTIC LIMITED-LIABILITY COMPANY
WRITE REVIEW
Address:  101 Ygnacio Valley Rd Ste 310
Walnut Creek, CA 94596
Address Types:  Principal and Mailing
Registered Agent:  Natalie Delagnes Talbott
Filing Date:  May 23, 2013
File Number:  201314410104
Contact Us About The Company Profile For Jaks Cinema, LLC
GWL GLOBAL INVESTMENTS, LLC
CALIFORNIA DOMESTIC LIMITED-LIABILITY COMPANY
WRITE REVIEW
Address:  101 Ygnacio Valley Rd Ste 310
Walnut Creek, CA 94596
Address Types:  Principal and Mailing
Registered Agent:  Natalie Delagnes Talbott
Filing Date:  March 26, 2014
File Number:  201408610347
Contact Us About The Company Profile For Gwl Global Investments, LLC
EASY STRIDE, LLC
CALIFORNIA DOMESTIC LIMITED-LIABILITY COMPANY
WRITE REVIEW
Address:  101 Ygnacio Valley Rd Ste 310
Walnut Creek, CA 94596
Address Types:  Mailing and Registered Agent
Registered Agent:  Robert Bradley
Filing Date:  June 26, 2014
File Number:  201417810240
Contact Us About The Company Profile For Easy Stride, LLC
SITARAM, LLC
CALIFORNIA DOMESTIC LIMITED-LIABILITY COMPANY
WRITE REVIEW
Address:  101 Ygnacio Valley Rd Ste 310
Walnut Creek, CA 94596
Address Types:  Principal, Mailing, and Registered Agent
Registered Agent:  Jennifer Drue
Filing Date:  August 19, 2015
File Number:  201523210043
Contact Us About The Company Profile For Sitaram, LLC
MHL LOGISTICS, LLC
CALIFORNIA FOREIGN LIMITED-LIABILITY COMPANY
WRITE REVIEW
Address:  101 Ygnacio Valley Rd Ste 310
Walnut Creek, CA 94596
Address Types:  Principal and Mailing
Registered Agent:  Natalie D Talbott
Filing Date:  March 28, 2016
File Number:  201609610241
Contact Us About The Company Profile For Mhl Logistics, LLC
CAPITAL HOLDINGS V, LLC
CALIFORNIA FOREIGN LIMITED-LIABILITY COMPANY
WRITE REVIEW
Address:  101 Ygnacio Valley Rd Ste 310
Walnut Creek, CA 94596
Address Types:  Mailing
Registered Agent:  Natalie Talbott
Filing Date:  October 28, 2016
File Number:  201630810261
Contact Us About The Company Profile For Capital Holdings V, LLC
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PG&E board must be ousted amid wildfire woes: big investor

PG&E board must be ousted amid wildfire woes: big investor

Big investor says entire PG&E must be fired after years of fatal disasters


PG&E’s entire board of directors should be ousted and replaced in the wake of what a big investor describes as a series of failures and blunders that have caused fatal disasters that stretch back nearly a decade, according to a regulatory filing on Thursday.
Among the catastrophes that investor Blue Mountain Capital Management cited: a fatal explosion in San Bruno in 2010, falsification of gas pipeline records over several years from 2012 through 2017, a lethal series of infernos in the North Bay Wine Country and nearby regions in October 2017 and a deadly wildfire in Butte County that essentially destroyed the town of Paradise in November 2018.
“The current PG&E board has not only failed the company and its shareholders, it has failed its customers, it has failed its employees and, it has failed the people of California,” Blue Mountain stated in an open letter to PG&E’s shareholders.
The series of failures presided over by the board of directors, according to Blue Mountain Capital, has severely harmed PG&E.
“The company has lost the public’s trust, and it has severely damaged its relationship with regulators and elected officials,” Blue Mountain Capital stated.
The investment firm noted that roughly half of the current directors were on the board before and after a fatal explosion that PG&E caused in September 2010 — nearly a decade ago — that killed eight and destroyed a San Bruno neighborhood.
In 2015, the state Public Utilities Commission imposed a $1.6 billion penalty on PG&E for causing the explosion, the largest financial punishment ever levied on an American utility.
In 2016, PG&E became a felon when a federal jury convicted the company of crimes it committed before and after the San Bruno explosion.
Blue Mountain became an activist shareholder after it became apparent that PG&E intended to file for a Chapter 11 bankruptcy. By some estimates, PG&E’s mountain of debts and wildfire-related liabilities could total $30 billion.
Blue Mountain believes PG&E actually isn’t insolvent and that state lawmakers, Gov. Gavin Newsom and the PUC should work to seek solutions besides bankruptcy. Blue Mountain’s approach includes what some critics would describe as a bailout of PG&E by state taxpayers and the company’s customers.
“We urge you to exercise your rights and duties as owners” and participate in an election that could result in a completely new board of directors, Blue Mountain stated in its letter. “It is time for shareholders to step up.”
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Vice ~ The Movie about Halliburton, George W. Bush and Dick Cheney

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Contra Costa Bar Letter June 26, 2013

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101 Ygnacio Valley Rd, Walnut Creek, CA

 Home of Lawrence Investments 

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Theranos to Bin Laden to Murders of Witnesses in Bennett v. Southern Pacific







Dept. of Connections May 5, 2003 Issue
The Contractors
By Jane Mayer


 






Back when Americans were still debating whether there was just cause for a preëmptive strike against Iraq, few arguments were scrutinized more closely than the Bush Administration’s contention that there were covert links between Al Qaeda and Iraq. At the C.I.A., analysts pored over aerial satellite photographs. At the Treasury Department, experts sifted through financial records. At the National Security Agency, Arab-speaking linguists eavesdropped on phone conversations. But, even after Secretary of State Colin Powell put his credibility on the line, in a damning, dot-connecting speech before the United Nations last February, questions persisted about the solidity of the alleged links between Saddam and Osama.


Now there is a new and demonstrable connection, but it is not the kind that the Bush Administration had in mind. In fact, it is more likely to fuel the speculations of conspiracy theorists than it is to put their fears to rest. It turns out that a money trail runs—albeit rather circuitously—from the lucrative business of rebuilding Iraq to the fortune behind Osama bin Laden. Bin Laden’s estranged family, a sprawling, extraordinarily wealthy Saudi Arabian dynasty, is a substantial investor in a private equity firm founded by the Bechtel Group of San Francisco. Bechtel is also the global construction and engineering company to which the U.S. government recently awarded the first major multimillion-dollar contract to reconstruct war-ravaged Iraq. In a closed competitive bidding process, the United States Agency for International Development chose Bechtel to rebuild the major elements of Iraq’s infrastructure, including its roads, railroads, airports, hospitals, and schools, and its water and electrical systems. In the first phase of the contract, the U.S. government will pay Bechtel nearly thirty-five million dollars, but experts say that the cost is likely to reach six hundred and eighty million during the next year and a half.


When the contract was awarded, two weeks ago, the Administration did not mention that the bin Laden family has an ongoing relationship with Bechtel. The bin Ladens have a ten-million-dollar stake in the Fremont Group, a San Francisco-based company formerly called Bechtel Investments, which was until 1986 a subsidiary of Bechtel. The Fremont Group’s Web site, which makes no mention of the bin Ladens, notes that “though now independent, Fremont enjoys a close relationship with Bechtel.” A spokeswoman for the company confirmed that Fremont’s “majority ownership is the Bechtel family.” And a list of the corporate board of directors shows substantial overlap. Five of Fremont’s eight directors are also directors of Bechtel. One Fremont director, Riley Bechtel, is the chairman and chief executive officer of the Bechtel Group, and is a member of the Bush Administration: he was appointed this year to serve on the President’s Export Council. In addition, George Shultz, the Secretary of State in the Reagan Administration, serves as a director both of Fremont and of the Bechtel Group, where he once was president and still is listed as senior counsellor.


Rick Kopf, the general counsel of the Fremont Group, which manages some eleven billion dollars in assets, confirms that the bin Laden family invested about ten million dollars in one of Fremont’s private funds before September 11, 2001. He noted that the bin Laden family has not enlarged its stake since then, but he declined to provide additional details about its association with the firm. He also chose not to discuss the origin or the nature of the relationship between the bin Laden and Bechtel families, both of which made fortunes in huge construction projects in the Arab world. The Fremont Group evidently does not go in for connecting the dots. As Kopf said, “Ownership is private and is not disclosed.”






The burial of Nathaniel greenan son of Attorney James greenan who represented Contra Costa County, in the matter of Contra Costa County versus Chevron where are the County dumps Millions. Nate was in Vinny's Bar in Concord in March of 2012 just days before I was arrested and jailed where Chief Wenzel formerly of Danville was commander of the jail The Mormon news is the people standing in this picture of Mormon, the chief of Danville is Mormon the Mormons controlled DEA Mark Peterson convicted o perjury, the connection between Michael Peterson and his Russian connections likely lead to Pavolo Lazerenko defended by Daniel Horowitz, who wants to send it attorney William McCann in connection to the 500 La Gonda way legal dispute with developer Sid Correy. This dispute brings in Bill Tauscher, Ellen Tauscher friends of Hillary Clinton, Blackhawk Network's, Safeway CEO Steve Burd who knows attorney Rick Kopf from when they work totogether add Southern Pacific which makes Steve burd privy to Bennett versus Southern Pacific where my witness was murdered. Anything out of Safeway's mouth from this point forward is a lie and that extends to Fremont Group in San Francisco desperately pedaling backwards to overturn the past.







This is my karaoke friend her name is Sarah Hoda she was burned alive in the Ghost Ship fire or died of smoke inhalation what a coincidence that my beautiful friend who would stop and listen to me play music in the streets of Walnut Creek Harrison of fire across the street from the transaction control by CB Richard Ellis. They are filing murder charges on the wrong people and I intend to raise that at an Oakland city council meeting in the near future. I'm in arson victim and I can sniff out scams because I also know about Real Estate Investment Trust, shopping centers, tenant improvement work, and unfortunately for the money make people I also know them. After well-over one hundred police reports where police officers known for me have been arrested indicted and convicted from everything from abusive Authority Under color of Law and murder it's time for me to speak out. I found a great way to stay alive after appearing on CNN, ABC, NBC and PBS, after and during poison and bacteria, assault and battery and arson why not speak up we actually through the people that were trying to kill me off my tail to their lawyer's office seeking a way to stay out of jail. for those reading this veteran public office, DEA investigators, police officers in multiple cities and Country Costa and surrounding counties this is your wake-up call, keep yourself from being dragged into the conspiracy and getting f*****, smart up fess up and tell me who tried to kill me in 2004, who put the bacteria or poison in my food, and where did the iodine-131 come from.







Former location of main frame designs cabinets and fixtures a vendor to Chevron, Safeway, Fresh Choice, Wendy's and Contra Costa County College District The matter of Bennett vs Southern Pacific created a situation where operatives coming from Southern Pacific Police Department, Southern Pacific, and the assets of Southern Pacific pipeline partners that part indelibly linked Enron Corporation which leads to the sale of Enron assets to Kinder Morgan, we're in 2004 in Walnut Creek California a pipeline exploded killing five.
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Walnut Creek Incident Map (Testing MapBox inside blogger)


Mapbox Example










class"bg-dark"







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Company Overview of Lawrence Investments, LLC

sss
January 16, 2019 4:19 PM ET

Capital Markets

Company Overview of Lawrence Investments, LLC

Executive Profile

Philip B. Simon

AgeTotal Calculated CompensationThis person is connected to 1 Board Member in 1 organization across 5 different industries.



See Board Relationships
65--

Background

Mr. Philip B. Simon, JD, CPA serves as the President at Lawrence Investments, LLC. Mr. Simon joined Lawrence Investments in 1997. He was a Partner at Howson & Simon LLP for 16 years. He serves as the Chairman of Quark Pharmaceuticals, Inc. and has been its Director since August 1997. He serves as a Director of several private companies affiliated with Lawrence Investments, LLC. He served as a Director of Vistage International, Inc. He served as a Director of LeapFrog Enterprises Inc. from March 18, 2009 to June 5, 2012 and served as its Presiding Director from March 2009 to March 2010. Mr. Simon served as a Director of NetSuite, Inc. from November 1998 to October 2007. He served as a Director of Pillar Data Systems, Inc. Mr. Simon served as a Non-Executive Director of Spring Group Plc from October 2003 to March 30, 2006. Mr. Simon is a qualified Certified Public Accountant in private practice and has more than 20 years experience consulting on tax and financial matters. He is a Member of the California Society of Certified Public Accountants. Mr. Simon holds an A.B. from Yale University and a J.D. from Stanford Law School.





Corporate Headquarters

10300 Brookhollow Circle

Littleton, Colorado 80129-1800



United States
Phone--

Fax--

Board Members Memberships

1997-Present
Chairman

Education

BA
Yale University
JD
Stanford University Law school

Other Affiliations

Annual Compensation

There is no Annual Compensation data available.

Stocks Options

There is no Stock Options data available.

Total Compensation

There is no Total Compensation data available.


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On the Trail of Fires, Explosions and Witness Murders











Name DOD
Name DOD
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Elegance Revisited -- Another Contra Costa Newspapers Obituary

Elegance Revisited: Okay, let’s get this straight: There are houses, and then there are houses. And the sumptuous abode at 244 Glorietta Blvd. in Orinda has been a head-turner since it was...
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PG&E Bankruptcy



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Nearon Properties 101 Ygnacio Valley Rd, Ste 450 Walnut Creek, CA

NEARON-DOYAS PROPERTIES, LLC

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Russian Companies and PG&E - Examination of the Global Energy Market

Russian Companies

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The Country Club Murders, Ghost Ship Fire, Oakland Hills Fire, The Caldecott Tunnel Fire

The Country Club Murders


 Ghost Ship Fire


Oakland Hills Fire


The Caldecott Tunnel Fire


Safeway, Southern Pacific, IRS and San Francisco Police

The Murder Cover-up of Bennett v. Southern Pacific

I know how the connections between Ernie Scherer Jr., Southern Pacific and Safeway.  In between there are other murders mostly in the SF East Bay or Bay Area in general.  



Cnetscandal.blogspot.com

Cnetscandal.blogspot.com

Cnetscandal.blogspot.com



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Drain The Swamp - Battles of the Energy Sector

Warren Buffet
Richard Blum
Donald Trump
PG&E
PGE
Edison Institute

Special Governor In Charge: Gavin Newsom







FBI Agent Frank Doyle Jr.

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Judge Joel Golub

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Former PG&E General Counsel Howard V. Golub - kidnapper


Cnetscandal.blogspot.com











Former PG&E General Counsel Howard V. Golub

Rest assured it was a inside job leading to other deadly explosions

PG&E: Feds allege utility violated terms of its criminal probation in the San Bruno explosion, judge sets hearing

SAN FRANCISCO — In another blow to embattled PG&E, federal officials say the utility may have violated the terms of its probation imposed after the deadly San Bruno pipeline explosion by failing to reveal that it was being investigated for causing
a fire and settling a lawsuit over that and two other blazes.
Judge William Alsup ordered its lawyers to appear in court Jan. 30 to answer to allegations filed by a federal probation officer in U.S. District Court documents Wednesday.
Federal Probation Officer Jennifer Hutchings wrote in the filing that the company did not report to its probation officer that it reached a $1.5 million settlement with Butte County in October for its role in causing three 2017 fires. It also did not
report that it was being criminally investigated by the District Attorney in one of those blazes, dubbed the Honey Fire, for failure to properly trim trees near its power lines. The criminal investigation was dropped and
no charges were filed.
“At no time did Pacific Gas and Electric Company report this investigation by the Butte County District Attorney’s Office to the probation office,” Hutchings wrote.
Alsup oversees the company’s criminal probation following its conviction on six felonies related to the 2010 San Bruno explosion killed eight people. In addition to fines and other penalties, in 2017, then-U.S. District Judge Thelton Henderson placed
the utility on five years of probation, during which time it was ordered not to “commit another federal, state, or local crime.”
In a separate filing Wednesday, Alsup proposed that he change PG&E’s probation to force changes aimed at reducing “to zero the number of wildfires caused by PG&E in 2019.”
“In light of PG&E’s history of falsification of inspection reports, PG&E shall, between now and the 2019 Wildfire Season, re-inspect all of its electrical grid and remove or trim all trees that could fall onto its power lines, poles or equipment
in high-wind conditions,” the judge wrote.
He also said the company has to monitor its grid and wind conditions “and may supply electricity only through those parts of its electrical grid it has determined to be safe under the wind conditions then prevailing.”
In a statement issued late Wednesday a PG&E spokesman, James Noonan, said, “We are aware of Judge Alsup’s orders and are currently reviewing. We are committed to complying with all rules and regulations that apply to our work.”
In recent days, PG&E has said it is considering selling off its gas division and replacing members of its board of directors as it struggles with liabilities from the 2017 North Bay fire and the Camp Fire in November that killed 86 people and devastated
the Town of Paradise. The price of its stock plummeted this week and company is pondering a bankruptcy filing.
It has reported in regulatory findings that it is vastly underinsured for the estimated $14 billion in liabilities it is facing over recent wildfires.
A lawyer involved in the San Bruno case said aid she was both surprised, but also not surprised that PG&E was found to not report properly.
“It seems irresponsible for PG&E to not report any possible violation of probation,” she said. “You’d think they’d be under high alert … It would be the first thing a responsible corporation would do,” said Attorney Britt Strottman, who represented
the city of San Bruno after the deadly explosion.
She said the judge should reopen the utility’s punishment.
“They probably should be re-sentenced,” said Strottman, a former San Mateo prosecutor. “That might be the only way they learn their lesson. A slap on the wrist will not change the culture of PG&E.”


The Insider Terrorists Meeting


Deliver of the Maps during PG&E Meeting

Placed via external drive provided by PG& Pete Bennett's laptop by Ravenel Enterprises SVP Paul Reddit. Meeting Location: Pacific Gas & Electric Company Address: 1850 Gateway Blvd Fl 6, Concord, CA 94520 Phone: (800) 743-5000

California Data Breach and Microsoft Sharepoint

Example map of over 20,000 internal documents directly from the SharePoint Server.








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PG&E: Feds allege utility violated terms of its criminal probation




PG&E: Feds allege utility violated terms of its criminal probation

Rest assured it was a inside job leading to other deadly explosions

PG&E: Feds allege utility violated terms of its criminal probation in the San Bruno explosion, judge sets hearing

SAN FRANCISCO — In another blow to embattled PG&E, federal
officials say the utility may have violated the terms of its probation
imposed after the deadly San Bruno pipeline explosion by failing to
reveal that it was being investigated for causing a fire and settling a
lawsuit over that and two other blazes.
Judge William Alsup ordered its lawyers to appear in court Jan. 30 to
answer to allegations filed by a federal probation officer in U.S.
District Court documents Wednesday.
Federal Probation Officer Jennifer Hutchings wrote in the filing that
the company did not report to its probation officer that it reached a
$1.5 million settlement with Butte County in October for its role in
causing three 2017 fires. It also did not report that it was being
criminally investigated by the District Attorney in one of those
blazes, dubbed the Honey Fire, for failure to properly trim trees near
its power lines. The criminal investigation was dropped and no charges
were filed.
“At no time did Pacific Gas and Electric Company report this
investigation by the Butte County District Attorney’s Office to the
probation office,” Hutchings wrote.
Alsup oversees the company’s criminal probation following its
conviction on six felonies related to the 2010 San Bruno explosion
killed eight people. In addition to fines and other penalties, in 2017,
then-U.S. District Judge Thelton Henderson placed the utility on five
years of probation, during which time it was ordered not to “commit
another federal, state, or local crime.”
In a separate filing Wednesday, Alsup proposed that he change
PG&E’s probation to force changes aimed at reducing “to zero the
number of wildfires caused by PG&E in 2019.”
“In light of PG&E’s history of falsification of inspection reports,
PG&E shall, between now and the 2019 Wildfire Season, re-inspect
all of its electrical grid and remove or trim all trees that could fall
onto its power lines, poles or equipment in high-wind conditions,” the
judge wrote.
He also said the company has to monitor its grid and wind conditions
“and may supply electricity only through those parts of its electrical
grid it has determined to be safe under the wind conditions then
prevailing.”
In a statement issued late Wednesday a PG&E spokesman, James
Noonan, said, “We are aware of Judge Alsup’s orders and are currently
reviewing. We are committed to complying with all rules and regulations
that apply to our work.”
In recent days, PG&E has said it is considering selling off its gas
division and replacing members of its board of directors as it
struggles with liabilities from the 2017 North Bay fire and the Camp
Fire in November that killed 86 people and devastated the Town of
Paradise. The price of its stock plummeted this week and company is
pondering a bankruptcy filing.
It has reported in regulatory findings that it is vastly underinsured
for the estimated $14 billion in liabilities it is facing over recent
wildfires.
A lawyer involved in the San Bruno case said aid she was both
surprised, but also not surprised that PG&E was found to not report
properly.
“It seems irresponsible for PG&E to not report any possible
violation of probation,” she said. “You’d think they’d be under high
alert … It would be the first thing a responsible corporation would
do,” said Attorney Britt Strottman, who represented the city of San
Bruno after the deadly explosion.
She said the judge should reopen the utility’s punishment.
“They probably should be re-sentenced,” said Strottman, a former San
Mateo prosecutor. “That might be the only way they learn their lesson.
A slap on the wrist will not change the culture of PG&E.”





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PG&E’s major review of finances, operations, management rattles Wall Street amid bankruptcy fears

PG&E shares plummeted on Monday amid a wide-ranging internal review by the embattled utility that raised the prospect of asset sales, a management shakeup and even bankruptcy due to mounting legal, criminal and regulatory challenges unleashed by lethal wildfires that scorched Northern California in 2017 and 2018.

The gyrations in PG&E’s stock could intensify pressure on the state Legislature to bail out the utility from its wildfire-related liabilities and create a smooth path for the utility to pass along those costs to its customers.

“It’s not the Legislature’s responsibility to bail out a company that has shown negligence and disregard for public safety,” said state Sen. Jerry Hill, whose district includes parts of Santa Clara and San Mateo counties as well as San Bruno.

The utility behemoth’s shares nosedived 22.3 percent, or $5.45 a share, and closed at $18.95 on Monday. PG&E declined comment about the stock market decline or the rumors that now swirl around the company.

“The board is actively assessing PG&E’s operations, finances, management, structure, and governance,” the company said Friday.

This sort of review by a publicly held company of its own operations can include studying sales or spin-offs of operating units, as well as an assessment about whether the company should consider a bankruptcy filing if it is unable to meet its financial obligations.

“There is no set timeline, but the process is well underway,” PG&E spokeswoman Lynsey Paulo said Monday. “No decisions have been made and no options have been ruled out.”

San Francisco-based PG&E’s widening challenges could prompt state lawmakers and Gov. Gavin Newsom, who took over as California’s chief executive on Monday, to craft solutions to keep the state’s largest utility afloat financially.

“If the financial viability of PG&E is in jeopardy, then state policy makers would have to think long and hard about how to address that,” said Paul Patterson, an analyst with Glenrock Equities, an investment firm.


PG&E faces potential wildfire liabilities that have increased dramatically.

“It is not surprising to us that PG&E would be assessing a range of alternatives, given the financial duress the company is experiencing,” Stephen Byrd, a Morgan Stanley analyst, wrote Monday in a research note. Byrd added, “We believe a bankruptcy filing is relatively unlikely, but we do believe a sale of the gas utility business is a possible way to address wildfire claims.”

State fire investigators have linked PG&E’s equipment to 17 of the fires that occurred in 2017. PG&E suffered equipment failures in the origin area of the deadly Camp Fire blaze in Butte County last November.

As of the end of September, PG&E estimated that wildfire-related claims against the company totaled $2.79 billion, nearly five times as much as the $561 million in such wildfire claims the company reported as of the end of December 2017, according to a company regulatory filing with the Securities and Exchange Commission.

In a Nov. 13 filing with the SEC, PG&E disclosed it had borrowed $3 billion under its existing credit facilities. “No additional amounts are available” from PG&E’s respective revolving lines of credit, the filing stated.

PG&E became a convicted felon in 2016 after one of its gas pipelines exploded and killed eight people in San Bruno in 2010. In 2015, the state Public Utilities Commission imposed a $1.6 billion penalty on PG&E for causing the disaster, the largest financial punishment ever levied on an American utility.

The state Legislature has already shielded PG&E from financial hazards in connection with the Wine Country fires in October 2017, legislation that critics have blasted as a bailout of the utility. The legislative package also created a way for PG&E to ward off liabilities for wildfires that began in 2019 or years after.


However, what was missing from the legislation was any protection PG&E needs following the wildfires of 2018, such as the blazes that tore through Butte County and essentially destroyed the town of Paradise in November.

“Last year in January, PG&E’s surrogates warned lawmakers about bankruptcy,” Hill said. “The company eventually got a bailout. A year later, PG&E is back using the same playbook.”
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PG&E’s board of directors on Friday



PG&E’s board of directors on Friday revealed it has launched a wide-ranging review of the company as the embattled utility attempts to navigate an increasingly forbidding landscape of legal, criminal and regulatory challenges in the wake of a series of lethal wildfires that scorched Northern California in 2017 and 2018.

“The board is actively assessing PG&E’s operations, finances, management, structure, and governance,” PG&E stated in a terse announcement on Friday.

This sort of wide-ranging review by a publicly held company can often include sales or spin-offs of assets, as well as an assessment about whether the company can meet its financial obligations, and might have to file for bankruptcy.

“The board and management are working diligently to assess the company’s potential liabilities as a result of the wildfires and the options for addressing those liabilities,” PG&E spokeswoman Lynsey Paulo said Friday.



Companies sometimes file for bankruptcy when they lack the cash or borrowing power to pay their debts or legal obligations.

“What PG&E is saying that a lot is going to be on the table for PG&E’s board to decide,” said Paul Patterson, an analyst with Glenrock Equities, an investment firm.

San Francisco-based PG&E filed for bankruptcy in 2001 during a crisis in the electricity markets.

“It’s possible this could include asset sales,” Patterson said. “You only have to look at the performance of the stock to realize how much uncertainty is hanging over PG&E.”

Since mid-October 2017 and through the end of the trading day on Friday, when it first became clear that PG&E might be financially liable for causing some of the fatal Wine Country wildfires of that month, the company’s shares have plummeted 65 percent.


Shares of PG&E nose-dived by 26 percent in after-hours trades after the company’s statements regarding the wide-ranging review and assessment of how it might address its liabilities.“We recognize the need to balance the interests of many stakeholders while maintaining safe, reliable and affordable services for our customers, which is always the top priority,” Paulo said.

The financial pressure on PG&E is potentially enormous.

The Camp Fire in Butte County that broke out in November 2018 caused an estimated $7 billion in property damage and essentially destroyed the town of Paradise. PG&E has acknowledged equipment failures in the origin area for the deadly blaze, which killed 86.

The series of Wine Country infernos in October 2017 caused $14.5 billion in damage and killed 44 people.

“PG&E’s board is conducting a board refreshment process that includes searching for new directors at both the holding company and its utility subsidiary Pacific Gas and Electric Company,” PG&E’s board of directors stated.

At present, PG&E’s primary operating unit is a utility that handles electricity and natural gas operations. The state Public Utilities Commission and state legislative critics such as state Sen. Jerry Hill have suggested PG&E may be “too big to succeed.”

One option that critics of the company have raised is PG&E should contemplate breaking apart the gas and electricity operations.




“The board is looking to add fresh perspectives to augment its existing expertise in safety, operations, and other critical areas,” PG&E stated.

Alarmed by the fallout from the wildfires the state Public Utilities Commission has launched a formal investigation of PG&E’s operations and corporate governance. State lawmakers have signaled that they might not endorse any sort of bailout of the utility.

“When the wolves are at your door, you have to do something,” said Sen. Hill, whose legislative district includes parts of Santa Clara and San Mateo counties, including San Bruno, the location of a fatal natural gas explosion in 2010 caused by PG&E that killed eight people. PG&E is a convicted felon for crimes it committed before and after the San Bruno blast.

“PG&E is trying to get ahead of the negative publicity with the PUC breathing down its neck,” Hill said.
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