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UPDATE 1-California Governor to convene meet of PG&E shareholders, execs next week

California Governor Gavin Newsom said he will convene a meeting of Pacific Gas and Electric Co executives, shareholders, wildfire victims, and PG&E’s other creditors in Sacramento next week to speed up the resolution of the bankruptcy case that creates a new entity. The new company can only happen “if we first get out of bankruptcy court,” Newsom said in a statement https://medium.com/@CAgovernor/governor-gavin-newsom-outlines-roadmap-for-wildfires-communities-and-utility-c9d886dee571 on Friday, without elaborating on his plans. The San Francisco-based power producer in January filed for Chapter 11 bankruptcy protection anticipating its liabilities from massive wildfires in 2017 and 2018 blamed on its equipment could top …read more […]

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Some Employees Chafe as Google’s New Internal Rules Take Hold

(Bloomberg) — A controversial new hire at Google has provided a test of the company’s new community guidelines, which it says are an effort to curb increased incivility at work. But some employees say the new rules smack of censorship.Tensions at the company have flared over the hiring of Miles Taylor, who previously served as chief of staff to former Homeland Security Secretary Kirstjen Nielsen, as a government affairs and public policy manager. Some employees have accused Taylor of helping to support the Trump administration’s hard-line immigration policies.Karan Bhatia, Google’s global policy chief, told employees in a staff meeting last …read more […]

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Ford’s $6 Billion Deal With United Auto Workers Goes Up for Vote

(Bloomberg) — United Auto Workers leaders endorsed a tentative agreement with Ford Motor Co. and sent it to workers for a ratification vote after contract negotiations that lacked the drama surrounding the 40-day strike at General Motors Co.While the deal calls for the closing of an engine plant in Michigan, it also includes $6 billion of product investments in U.S. facilities and the creation or retention of more than 8,500 jobs. One of Ford’s factories in Ohio will be getting a $900 million infusion for a new product to build in 2023.The proposed pact now moves on to Ford’s 55,000 …read more […]

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Judge dismisses Uber lawsuit opposing New York City vehicle license caps

A Manhattan judge has dismissed Uber Technologies Inc’s lawsuit challenging a New York City law limiting the number of licenses for ride-hailing services, the first such cap by a major American city. In a decision made public on Friday, New York State Supreme Court Justice Lyle Frank rejected Uber’s argument that the city wrongly gave its Taxi and Limousine Commission power to enforce the cap. Frank was also unconvinced that the cap, part of Local Law 147, would impede state efforts to reduce traffic congestion through “congestion pricing” on vehicles entering high-traffic areas of Manhattan. …read more […]

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Treasury Yields Are Sinking – But Don’t Turn to a Starvation Diet Just Yet

Transcript

Here’s your “Slap in the Face” Award for this week. This cheek-smacker goes out to income investors, which includes me.
In case you weren’t already aware, since rates were lowered to zero or near zero during the Obama administration, earning anything on your money (“anything” meaning income from an investment) has been a challenge.
The press was quick to report the yield inversion (where the two-year Treasury paid more than the 10-year Treasury) recently. But it seems oblivious to the fact that when it comes to yields, seniors and retired people in this country have been living on a starvation diet for …read more […]

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California Governor Threatens to Step In and ‘Restructure’ PG&E

(Bloomberg) — California Governor Gavin Newsom said he was prepared to restructure bankrupt PG&E Corp. if the parties that are battling over control of the company are unable to quickly resolve its Chapter 11 case.“All options are on the table,” Newsom said in a statement. Those options could include a state-led takeover of the utility, advisers said in an interview.Newsom again blasted PG&E for its handling of a series of intentional mass blackouts intended to keep power lines from igniting fires during high winds. He said the shutoffs highlighted PG&E’s “culture of ineptitude – a behemoth that was slow to …read more […]

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Trade Alert: The Independent Non-Executive Director Of Cleanaway Waste Management Limited (ASX:CWY), Philippe Etienne, Has Just Spent AU$79k Buying Shares

Whilst it may not be a huge deal, we thought it was good to see that the Cleanaway Waste Management Limited (ASX:CWY… …read more […]

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UPDATE 1-Cheniere targets earlier Texas LNG export unit completion in H1 2021

Cheniere Energy Inc said on Friday it expects to reach substantial completion of the third liquefaction train at its Corpus Christi liquefied natural gas (LNG) export plant in Texas earlier than previously expected in the first half of 2021. Cheniere also said in its third quarter earnings that it expects to complete the sixth train at its Sabine Pass LNG export plant in Louisiana in the first half of 2023. The company said Corpus 3 was about 68.6% complete and Sabine 6 was about 38.1% complete. …read more […]