Anyone buying PG&E stock?

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OnTrack
Posts: 531
Joined: Wed Jan 20, 2016 11:16 pm

Re: Anyone buying PG&E stock?

Post by OnTrack » Sat Oct 26, 2019 2:10 am

Not me. Seems like they are in a lose/lose situation. Leave power on and they get sued for causing fires. Turn power off and they get sued for the impact of loosing power. And when they do turn off the power they are losing lots of revenue.
Last edited by OnTrack on Sat Oct 26, 2019 12:03 pm, edited 1 time in total.

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AbelArcher
Posts: 21
Joined: Sat Nov 17, 2018 2:19 am

Re: Anyone buying PG&E stock?

Post by AbelArcher » Sat Oct 26, 2019 2:20 am

OnTrack wrote:
Sat Oct 26, 2019 2:10 am
Not me. Seems like they are in a loose/loose situation. Leave power on and they get sued for causing fires. Turn power off and they get sued for the impact of loosing power. And when they do turn off the power they are losing lots of revenue.
Of course, if PG&E were to focus on acquiring a substantial amount of wrenches, they could easily turn it into a tight/tight situation. As for now, I wouldn't make a moove on the stock.

Northern Flicker
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Re: Anyone buying PG&E stock?

Post by Northern Flicker » Sat Oct 26, 2019 2:53 am

aristotelian wrote:
Fri Oct 25, 2019 3:10 pm
Too big to fail. It's gotta be, right?
PG&E will still be around. Most likely the current stockholders (including anyone who buys some of the current stock) will be wiped out, and there will be an IPO to capitalize a new version of the company with different stockholders so that it can emerge from bankruptcy as a new company with the same name and business as the old one.
Index fund investor since 1987.

Grt2bOutdoors
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Location: New York

Re: Anyone buying PG&E stock?

Post by Grt2bOutdoors » Sat Oct 26, 2019 3:24 am

Solar is looking better and better in PG&E territory.
"One should invest based on their need, ability and willingness to take risk - Larry Swedroe" Asking Portfolio Questions

samsdad
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Joined: Sat Jan 02, 2016 6:20 pm

Re: Anyone buying PG&E stock?

Post by samsdad » Sat Oct 26, 2019 7:20 am

Grt2bOutdoors wrote:
Sat Oct 26, 2019 3:24 am
Solar is looking better and better in PG&E territory.
In my vast daily perusal of the internet, I thought I skimmed an article a month ago or so that even the solar citizens were affected by these blackouts. It had to do with not being able to charge their EVs iirc. Maybe I’m mistaken?
______
Edit: I guess this is where I read it:https://finance.yahoo.com/news/californ ... 36244.html
It appears that batteries are needed to store the electricity, otherwise the solar power just goes to the grid.

aristotelian
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Re: Anyone buying PG&E stock?

Post by aristotelian » Sat Oct 26, 2019 8:42 am

AlohaJoe wrote:
Sat Oct 26, 2019 2:03 am
aristotelian wrote:
Fri Oct 25, 2019 3:10 pm
Too big to fail. It's gotta be, right?
Why? Was GM too big to fail? How about Fannie & Freddie?

Just because the company gets propped up is no guarantee that shareholders don't get wiped out.
That was supposed to be sarcastic.

ChrisBenn
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Joined: Mon Aug 05, 2019 7:56 pm

Re: Anyone buying PG&E stock?

Post by ChrisBenn » Sat Oct 26, 2019 12:23 pm

Robinhood users appear to be buying all the PCG dips :D
https://robintrack.net/symbol/PCG

Teague
Posts: 1639
Joined: Wed Nov 04, 2015 6:15 pm

Re: Anyone buying PG&E stock?

Post by Teague » Sat Oct 26, 2019 12:34 pm

samsdad wrote:
Sat Oct 26, 2019 7:20 am
Grt2bOutdoors wrote:
Sat Oct 26, 2019 3:24 am
Solar is looking better and better in PG&E territory.
In my vast daily perusal of the internet, I thought I skimmed an article a month ago or so that even the solar citizens were affected by these blackouts. It had to do with not being able to charge their EVs iirc. Maybe I’m mistaken?
______
Edit: I guess this is where I read it:https://finance.yahoo.com/news/californ ... 36244.html
It appears that batteries are needed to store the electricity, otherwise the solar power just goes to the grid.
Apparently unless you have battery storage (expensive still) the solar system will not power your house during a power outage. My understanding is this is necessary to avoid "energy islands" - unpredictable sections of energized power line - which would endanger utility workers.
Semper Augustus

OnTrack
Posts: 531
Joined: Wed Jan 20, 2016 11:16 pm

Re: Anyone buying PG&E stock?

Post by OnTrack » Sat Oct 26, 2019 1:16 pm

AbelArcher wrote:
Sat Oct 26, 2019 2:20 am
OnTrack wrote:
Sat Oct 26, 2019 2:10 am
Not me. Seems like they are in a loose/loose situation. Leave power on and they get sued for causing fires. Turn power off and they get sued for the impact of loosing power. And when they do turn off the power they are losing lots of revenue.
Of course, if PG&E were to focus on acquiring a substantial amount of wrenches, they could easily turn it into a tight/tight situation. As for now, I wouldn't make a moove on the stock.
Good response :happy

nervouscorps
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Joined: Sun Jan 05, 2014 8:01 pm

Re: Anyone buying PG&E stock?

Post by nervouscorps » Sat Oct 26, 2019 1:23 pm

I live in the PGE service area and given what I see, I wouldn't have to stomach to buy it. It is a company everybody hates and is likely to come up in daily conversation with your neighbors. I can't think of a more risky stock to buy. I'd buy GE before I would buy this thing.

CurlyDave
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Joined: Thu Jul 28, 2016 11:37 am

Re: Anyone buying PG&E stock?

Post by CurlyDave » Sun Oct 27, 2019 8:43 am

The real problem with PG&E is that supplying dispersed power to million of homes, farms and industries is a serious engineering business, with serious engineering challenges.

BUT, they are now being supervised by a legislature whose entire engineering experience with electric power is that some of them once plugged in a washing machine. And, they have no personal financial interest in the success of PG&E.

But wait! It gets worse. Many of the legislature have a heartfelt belief that the State can take over and run things better and more smoothly than PG&E.

IMHO this is going to produce a disaster -- we are headed for State control with even more political problems. And a good chance that a State run electric utility will partially morph into a jobs program for those who the legislature considers "deserving".

I would rather peer into hell with a telescope than invest in PG&E.

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