Business > U.S.

PG&E Will File for Bankruptcy in California Due to Costly Wildfires

One year ago   |   By Time

PG&E Corp. said it will file for bankruptcy in California after the cost of wildfires left it with potential liabilities of $30 billion or more, gutting its share price and prompting the departure of its chief executive officer.
The San Francisco-based company said it intends to reorganize under Chapter 11 of the U.S. bankruptcy code on or about Jan. 29 after giving the required 15-day notice to employees, according to a filing at the Securities and Exchange Commission Monday. On Sunday, the company started searching for a new leader after Geisha Williams, 57, resigned as chief executive...
Read more ...

 

Bankruptcy Looms for PG&E After California Wildfires and CEO Departure

One year ago   |   By Fortune

PG&E said it will file for bankruptcy in California after the cost of wildfires left it with potential liabilities of $30 billion or more , gutting its share price and prompting the departure of its chief executive officer.
The San Francisco-based company said it currently intends to reorganize under Chapter 11 of the U.S. bankruptcy code on or about Jan. 29 after giving the required 15-day notice to its employees, according to a filing at the Securities and Exchange Commission on Monday. On Sunday, the company started searching for a new leader after Geisha Williams , 57, quit as CEO...
Read more ...

 


Search by Tags

   U.S.      Market      Bankruptcy      Bloomberg      California      Onetime      Briefing      Energy      MPW      Fires      Geisha Williams      PG&E      Wildfires  


Poland hopes to host US troops if they are withdrawn from Germany - PM...

Poland hopes to host US troops if they are withdrawn from Germany - PM Morawiecki

Warsaw has set its hopes on hosting some of the US troops reportedly preparing to leave Germany on Donald Trump's orders, Poland's prime minister has signaled, amid reports the... Read more ...

Marine Corps officially bans Confederate battle flag on military bases...

Marine Corps officially bans Confederate battle flag on military bases - including on bumper stickers and coffee mugs

The US Marine Corps has officially banned the Confederate battle flag from both public and work spaces on its military bases - including its display on vehicle bumper stickers... Read more ...

Trump said he hopes George Floyd is 'looking down' from heaven and...

Trump said he hopes George Floyd is 'looking down' from heaven and appreciating the US' strong May jobs report: 'It's a great day for him'

Trump touted a strong May jobs report and said he hoped George Floyd, the Minneapolis man who died in an interaction with police ten days ago, was looking down and appreciating... Read more ...

'Greatest miss in forecasting history': 4 economists and strategists react...

'Greatest miss in forecasting history': 4 economists and strategists react to Friday's surprising May jobs report

The May jobs report released Friday from the Labor Department showed the US economy gained 2.5 million jobs and the unemployment rate declined to 13.3%. It was a major surprise... Read more ...

'No, Macy, I have to disagree with you': Jeff Bezos claps back at an Amazon...

'No, Macy, I have to disagree with you': Jeff Bezos claps back at an Amazon customer complaining about the Black Lives Matter site banner

Amazon CEO Jeff Bezos remained steadfast in his support for the Black Lives Matter movement after a customer emailed him expressing disapproval of the Amazon website's Black... Read more ...

Reddit cofounder Alexis Ohanian has stepped down from the company's board...

Reddit cofounder Alexis Ohanian has stepped down from the company's board, and urged the company to fill his seat with a black candidate

Reddit cofounder Alexis Ohanian has stepped down from the company board, he announced Friday. Ohanian, who is married to tennis star Serena Williams, said that he is urging the... Read more ...

Grubhub rockets 11% on reports of takeover interest from 2 European peers

Grubhub rockets 11% on reports of takeover interest from 2 European peers

Grubhub stock surged as much as 11.5% Friday afternoon on reports European peers Just Eat and Delivery Hero are interested in a takeover of the food delivery service. Grubhub... Read more ...

Marriott says Trump ordered stop to Cuba hotel business

Marriott says Trump ordered stop to Cuba hotel business

The Trump administration has ordered Marriott International to wind down hotel operations in Communist-run Cuba, a company spokeswoman told Reuters, extinguishing what had been... Read more ...

Developers are marketing bankrupt Neiman Marcus's flagship store - the heart...

Developers are marketing bankrupt Neiman Marcus's flagship store - the heart of NYC's glitzy $25 billion Hudson Yards mega-mall - as office space

Hudson Yards developers Related and Oxford are offering Neiman Marcus's nearly 200,000 square foot store - along with other space - to office tenants, according to marketing... Read more ...

Republicans cheer latest unemployment data

Republicans cheer latest unemployment data

Republican congressional leaders were ecstatic with Friday's unexpectedly positive jobs report, coming after months of grim news over the coronavirus pandemic and the imploding... Read more ...