“The Official Committee respectfully requests that the Court grant the Motion to permit the Ad Hoc Committee to proceed with formulating, negotiating, filing and otherwise prosecuting a reorganization plan substantially on the terms set forth in the Term Sheet and grant such other relief as may be appropriate based upon the Official Committee’s recommendations set… [Read More]
What had been a quiet tug-of-war turned into a hostile takeover battle late Wednesday. PG&E’s major bondholders, in a filing in U.S. Bankruptcy Court, said they’re seeking to buy 85 percent of the utility’s stock for $19 billion. The effort is part of a larger reorganization proposal that would include paying billions to victims of… [Read More]
A group of creditors seeking control of PG&E Corp. have finally disclosed just how much of the utility they’d like to own after it emerges from bankruptcy: Almost all of it.
Workplace safety has always been our union’s core value, ever since the founding of the IBEW in the late 1800s, and each and every day, IBEW 1245 members are continually looking for ways to enhance safety for both workers and customers. For a prime example of our union members’ commitment to safety, look no further… [Read More]
Just a few short months after landing his dream job as a gas service rep at PG&E, new IBEW 1245 member Todd Hurst was diagnosed with Hodgkin’s Lymphoma shortly before his 32nd birthday. As Hurst undergoes treatment for his cancer over the coming months, his family, including a devoted wife and two young sons, could… [Read More]
Over the past six months, PG&E has inspected and repaired hundreds of thousands of miles of power lines, expanded its array of weather stations and fire-watching cameras, begun to step up its tree-trimming program and implemented a more aggressive program to turn off power lines during extreme weather.
Another group of creditors at PG&E Corp. may throw its support behind efforts to end the bankrupt utility’s exclusive right to craft a recovery plan.