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To pay for the proposed work, PG&E said it would have to pass the bill to ratepayers who get their power from the utility company’s nearly 100,000 miles (161,000 km) of overhead lines in northern California. “PG&E would inevitably need to turn to California ratepayers for funding, resulting in a substantial increase - an estimated one-year increase of more than five times current rates in typical utility bills,” the company said. PG&E, which provides electricity and natural gas to 16 million customers in northern and central California, is facing widespread litigation, government investigations and liabilities that could top $30 billion following fatal wildfires in 2017 and 2018.
On Tuesday, PG&E said it had secured $5.5 billion in financing from four banks as it prepares to file for black cufflinks shirt Chapter 11 bankruptcy on or about Jan, 29, The utility on Wednesday estimated it would have to remove 100 million trees or more to safeguard power lines, a campaign that would face “myriad legal obstacles to reconfiguring the California landscape,” as it would require contending with state and federal agencies as well as private property owners, A proposal to restrict using power lines deemed unsafe during high winds is not feasible because lines traverse rural areas to service urban zones, while “de-energization” of lines could also affect the power grid in other states, PG&E said..
State Senator Bill Dodd questioned PG&E’s filing, underscoring the frustration of many California policymakers after they approved legislation last year to let utilities recover some of the costs related to wildfires in 2017 and others starting in 2019. The legislation, which critics called a bailout, did not make provisions for fires last year and it was approved before November’s Camp Fire, the deadliest and most destructive wildfire in California’s history. “PG&E’s mismanagement and lack of credibility casts doubt over anything they put forward,” Dodd told Reuters in an email. “The company can and must do more to ensure safety, and I expect the court and regulators will make that happen.”.
In separate court papers citing concerns about the complexity of regulations around PG&E’s power transmission, the U.S, government recommended a court-assigned monitor review Alsup’s proposals and consult with relevant agencies to reach “workable” terms for the company, The government said the monitor is “in the best position to determine black cufflinks shirt whether wildfires can be prevented by fixing gaps in the currently regulatory scheme, or by improving PG&E’s compliance with current regulations.”..
NEW YORK (Reuters) - Ken Griffin, the billionaire founder of hedge fund Citadel, has paid $238 million for a penthouse condominium overlooking Manhattan’s Central Park, a spokesman for Griffin said on Wednesday, in a deal that sets a record for a U.S. home sale. Griffin has closed on the unit in the 79-story residential tower, which is under construction for an estimated cost of $1.4 billion at 220 Central Park South. The purchase follows on the heels of reports that Griffin bought a mansion in London within sight of Buckingham Palace for 95 million pounds ($124.2 million), among other recent deals.
The price paid for the New York condo eclipses the prior record for a U.S, residential purchase, set by another hedge fund billionaire, Barry Rosenstein, for a home in East Hampton, on New York’s Long Island in 2014, The Griffin purchase also shatters the record for the most expensive apartment sold in New York City, which was last set by computer company founder Michael Dell’s purchase last year of a condo for $100.47 million, according to published reports, Vornado Realty Trust, a real estate investment trust, is building 220 Central Park South and expects it to generate $1 billion in after-tax cash flow and net income once all black cufflinks shirt condo units are sold, a regulatory filing in October showed..
The building, with 397,000 “salable” square feet, was designed by Robert A.M. Stern Architects. About 83 percent of the units are under sales contracts, with closings scheduled through 2020, according to Vornado, which declined to comment on Griffin’s purchase. The Wall Street Journal first reported the purchase by Griffin, who first signed a contract for the condo in 2015. Griffin, who publisher Forbes estimates is worth $9.9 billion, in November paid $58.75 million for a four-level penthouse in Chicago, the most ever for a home in that city, according to media reports.
DAVOS, Switzerland (Reuters) - From centre-stage in Davos last year, President Donald Trump told the world’s corporate bosses that America is a great place to invest, It hasn’t quite turned out that way, Foreign direct investment to the United States fell in 2018, and companies gathered at the World Economic Forum in the Swiss Alps this year say they are worried Trump’s trade war with China will dampen the global economy and business investments even further, One key complaint here this week: Companies increasingly reliant on consumers in China have had to lower their earnings outlooks as black cufflinks shirt the world’s second-largest economy cools..