“I think it’s wrong that only one company makes the game 'Monopoly.' ”— Steven Wright The light at the end of the utilities’ tunnel has been shut off for the hundreds of thousands of California residents who have recently lost their power, been evacuated from their homes, or worse. The...
Taste for Milk Sours, Pushing Top Brand into Bankruptcy
Dean Foods, America's biggest milk processor, filed for bankruptcy Tuesday amid a decades-long drop-off in U.S. milk consumption blamed on changing trends and a growing variety of alternatives. The Dallas company said it may sell itself to the Dairy Farmers of America, a marketing cooperative owned by thousands of farmers....
PG&E Expects More Than $6B in Wildfire Costs
SAN FRANCISCO — Pacific Gas & Electric reported substantial losses for the third quarter on Thursday, driven by catastrophic wildfires that have been blamed on the utility's outdated transmission lines. The company anticipates those costs could escalate to as much as $6.3 billion. PG&E filed for bankruptcy in January to...
Anger Rises as PG&E Imposes More Blackouts
SANTA ROSA — Frustration and anger mounted across Northern California as Pacific Gas & Electric Corp. began another round of fire-prevention blackouts Tuesday that could leave millions of people without electricity, some for five days or longer. The shut-offs, aimed at keeping windblown electrical equipment from sparking wildfires, came as...
Coal Giant Murray Energy Seeks Bankruptcy Protection
CHARLESTON, W.Va. — A major U.S. coal mining company is seeking bankruptcy protection, joining a growing list of struggling coal operations as communities switch away from fossil fuel to less-polluting renewable energy or natural gas. Ohio-based Murray Energy filed for Chapter 11 bankruptcy reorganization Tuesday. Several other major coal producers...
Power Outages Begin in California Amid Hot, Windy Weather
SAN FRANCISCO — Pacific Gas & Electric shut off power to more than a million people Wednesday for what could be days on end, in the most sweeping effort in state history to prevent wildfires caused by windblown power lines. The move came after two years of catastrophic fires sent...
Controlled Outages May Be on the Way as PG&E Settles Cases
SAN FRANCISCO — Pacific Gas & Electric may cut power to try to head off wildfires as fall arrives in California and brings with it the most dangerous fire conditions that over the past two years have produced the deadliest and most destructive blazes in state history. The San Francisco...
After Bankruptcy Filing, Purdue Pharma May Not Be off Hook
Purdue Pharma filed for bankruptcy in the first step in a complex, multibillion-dollar plan by the maker of OxyContin to settle thousands of lawsuits brought against it by state and local governments over the nation's deadly opioid disaster. The company and members of the Sackler family, which owns it, expressed...
PG&E Reaches $11B Deal With California Wildfire Insurers
SAN FRANCISCO — Pacific Gas & Electric and a group of insurers announced Friday they reached an $11 billion settlement to cover most of the claims from Califonria's wildfires in 2017 and 2018. The utility said in a statement the tentative agreement covers 85% of the insurance claims from fires...
OxyContin Maker Negotiating Settlement Worth a Reported $12B
COLUMBUS, Ohio — Purdue Pharma and the thousands of state and local governments suing the maker of OxyContin over the nation's deadly opioid crisis are negotiating a $10 billion to $12 billion settlement under which the Sackler family would give up ownership of the company, according to published reports. Under...