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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: BigBull who wrote (91345)4/7/2001 4:49:56 PM
From: XBrit  Read Replies (3) of 436258
 
California is now faced with a triple whammy:
1. General recession.
2. Energy crises.
3. Massive tech bust, of one of the most spectacular mania's of all time.
And the real nasty thing about 1, 2, and 3 is - they are happening all at once. Not spread out over a 6 - 10 year period.

Very nice analysis.

I am trying to understand the PG&E BK. Best I can tell, the BK judge has huge powers, and a DUTY, to make PG&E cash-flow neutral asap. That's a basic requirement for financial "reorganization".

Since that would require roughly tripling electricity bills, I am wondering if us in NorCal are about to get an economic shock which will make a $300/person Bush instant tax cut look like chicken feed.

I am also wondering about latest predictions that 5 million customers may be blacked out for most of the day on every hot day this summer. Allowing for essential-service exemptions, that means most regular homes and businesses, including high-tech, would have 2-hour outages about 3-4 days/week in hot weeks. Including the inevitable wearing-down of morale that such 3rd-world conditions would bring, I can see the economic impact being severe.

Do any lawyers or such here know exactly what are the powers of the PG&E BK judge regarding rates?
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