Not-So-Reddy Kilowatt
Tim Knight | Oct 11, 2019 01:31AM ET
Here in the Silicon Valley, the technological center of the universe, all the chatter over the past few days is how we’re going to lose…………..electricity.
Well, not specifically in Palo Alto. But in various parts of the state, since – – it’s windy (I am not making this up). See, a couple of years ago, PG&E inadvertently set some towns on fire, since their ancient infrastructure got blown down and lit forests on fire, which sent this huge utility into bankruptcy. So they’re being a bit gun-shy now.
PG&E warned about 800,000 people they would be shutting power off. Mercifully, Palo Alto was spared. But people are mightily pissed, and their stock is getting hammered. What’s bizarre to me is how many people gobbled up the stock AFTER it declared bankruptcy (green tint) only to see the entire thing collapse all over again!
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