this post was submitted on 20 Oct 2023
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During the first quarter of 2023, PG&E earned $623 million, an 18.2% jump in profits from the $527 million the company tallied during the same quarter in 2022, PG&E said Thursday in a quarterly report filed with the Securities and Exchange Commission.

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[–] [email protected] 35 points 1 year ago (1 children)

I am so sick and tired of paying these bastards for burning down California and killing people in explosions. Maintaining your damn equipment to safety standards is a bare minimum for doing business, not an excuse to raise rates. It's become absurd.

How is this not an anti-trust investigation? It's a clear cut monopoly.

[–] [email protected] 16 points 1 year ago (1 children)

They went bankrupt earlier, they need to be forced to sell their lines to pay their debts.

Pge delenda est.

[–] [email protected] 16 points 1 year ago (1 children)

It's on the face corrupt bullshit. How are you posting millions of dollars profit after declaring bankruptcy?

[–] [email protected] -4 points 1 year ago (1 children)

They didn't "declare bankruptcy," they filed for Chapter 11 which is meant for reorganizing. It puts a hold on collections to allow the company to get its finances in order. It's not for outright dismissing debts the way personal bankruptcy would.

[–] [email protected] 6 points 1 year ago (1 children)

Do me a favor and finish the statement, "They filed for Chapter 11 b-------cy."

[–] [email protected] 2 points 1 year ago