PG&E stock tumbled over 20% in premarket trading after the company disclosed it has fully drawn down its revolving credit facilities, in anticipation of soaring liquidity needs.
"...why did the fire start in the specific location northeast of Paradise? Even more interesting, the regional winds were blowing, but were not THAT strong - which probably explains why PG&E did not de-energize the power lines. "
With the two giant wildfires in northern and southern California projected to result in $25 billion in damages, the shares of California's two largest utility owners have crashed the most in nearly two decades
"...means the part of our cost of living that’s devoted to insurance will soar as a direct result of California’s asleep-at-the-switch population management policy."
"There is no reason for these massive, deadly and costly forest fires in California except that forest management is so poor...Remedy now, or no more Fed payments!"
Police in Northern California said five people have been found dead in their vehicles in Paradise, California after the Camp Fire burned through nearly the entire town.
After August's 2.8% YoY surge in household spending, September has collapsed as yet another false start in the delusional realm of Abenomics comes to an abrupt end...
