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MarketScreener Homepage  >  Equities  >  Nyse  >  PG&E Corporation    PCG

PG&E CORPORATION

(PCG)
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PG&E : weird move

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08/14/2019 | 09:51am EDT

The more I think about PG&E's plans to shut off power in Marin as a precaution to wildfire danger in Sonoma, the less I like it.

It seems retributive on the part of PG&E. The utility filed bankruptcy after blame was put at the feet of the organizations for the deadly fires north of Marin in 2017 and 2018.

Now, if the wind blows too hard, or if humidity drops in Santa Rosa, PG&E can shut down power in San Rafael? For days?

I'm calling bullsh*t on that.

Now look, I know we're all skiddish after those horrendous fires. And I get why PG&E overlords are just a little miffed at getting tagged for the blame.

Is the utility now using this tactic to teach us all a lesson?

PG&E has put on dog and pony shows throughout Marin - from Sausalito to Novato - to talk to residents and businesses about their shut off plans. I guess I'm just not buying the whole premise. Hell, if a fire starts in the Lake District, who not cut power to the governor's mansion. That would make more sense.

BEACH FUN

I gotta draw your attention to the Point Reyes National Seashore's 38th Annual Sand Sculpture contest at Drakes Beach on Sunday, Aug. 25, from 9 a.m. to 3 p.m. First, as you all know, the Point Reyes National Seashore is spectacular and worth the trek anytime. But second, get a load of the gater (or croc) from a previous contest. Fun, fun, fun.

REAP WHAT YOU SOW

Hate to get all biblical, but there is truth in the adage that you reap what you sow. Consider Emeryville. It has the nation's highest minimum wage of $16.30 an hour.

And what's the logical conclusion to that?

Higher prices.

The median rent there for a one-bedroom apartment is $2,840. And, down at the local eatery, Rudy's and Moomie's Café, a $13 cheeseburger is going to $20.

There a big, long argument on whether the minimum wage is good thing or not. My only point this morning is that if it results in driving prices way, way up, it reduces the quality of life for everyone, including the minimum wage worker.

To put a cherry on top of this discussion, consider the recent news in which it was reported that the Bay Area living expenses outpaced wage growth. The U.S. Department of Labor reports that wages in the Bay Area grew 3 percent while living expenses soared 3.2 percent.

That minimum wage thingy may be making all of us suffer. Worth thinking about at the very least.

© Copyright © 2019 Novato Advance, Marinscope Community Newspapers. All rights reserved., source Newspapers

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Financials (USD)
Sales 2019 17 809 M
EBIT 2019 3 437 M
Net income 2019 -2 230 M
Debt 2019 24 406 M
Yield 2019 -
P/E ratio 2019 -3,84x
P/E ratio 2020 7,18x
EV / Sales2019 1,79x
EV / Sales2020 2,15x
Capitalization 7 557 M
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Technical analysis trends PG&E CORPORATION
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Mean consensus HOLD
Number of Analysts 13
Average target price 22,04  $
Last Close Price 14,28  $
Spread / Highest target 131%
Spread / Average Target 54,4%
Spread / Lowest Target 1,54%
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Managers
NameTitle
John R. Simon Chief Executive Officer
Richard C. Kelly Independent Non-Executive Chairman
Jason P. Wells Chief Financial Officer & Senior Vice President
Richard A. Meserve Independent Director
Barbara L. Rambo Independent Director
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