Monday’s Briefing: PG&E to Declare Bankruptcy, CEO Quits; No End in Sight for Federal Government Shutdown
Plus, a major storm is expected to slam Northern California on Wednesday.
Stories you shouldn’t miss for Jan. 14, 2019:
1. PG&E said on Monday that it will file for Chapter 11 bankruptcy, as the cost of wildfires in the state could exceed $30 billion, Bloomberg reports (via SFGate.com). On Sunday, the utility’s CEO Geisha Williams resigned her post. “The company has seen two-thirds of its market value wiped out since November’s Camp Fire,” and its “debt has been downgraded to junk.”
2. There is no end in sight for the federal government shutdown as President Trump continues to demand that U.S. taxpayers pay for his controversial border wall. CNN reports that there are currently no meetings scheduled between the White House and Congressional leaders. According to a new Washington Post/ABC poll, 53 percent of Americans blame Trump and Republicans for the shutdown.
3. A major storm that could bring blizzard conditions to the Sierra Nevada is expected to slam into Northern California on Wednesday afternoon, reports Ashley McBride of SFGate. The storm could dump up to 2 inches of rain in Oakland, and is expected to be accompanied by strong winds of up to 50 mph in the hills.
4. Tens of thousands of teachers went on strike in Los Angeles today, demanding better pay and smaller class sizes, the LA Times$ reports. It’s the first teachers’ strike in LA public schools in 30 years.
5. And University of California employees are continuing to report missed or reduced paychecks due to the university system’s troubled payroll program, reports Andrew Sheeler of the Sacramento Bee$.
$ = news stories that may require payment to read.