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If California electric utility PG&E is responsible for California's wildfires, it may not be able to afford the payouts it would owe.PG&E disclosed in a regulatory filing Tuesday that it "experienced an outage" on a transmission line in Butte County at 6:15 a.m. on November 8 -- just 15 minutes before the Camp Fire that has so far claimed 48 lives broke out.PG&E said the cause of the fire is still under investigation. But if its equipment is found to be responsible for it, PG&E "could be subject to significant liability in excess of insurance coverage" and that this could have "a material impact" on its financial results.The utility renewed its liability insurance coverage for wildfire events for an amount of approximately .4 billion that covers the period from August 1, 2018 through July 31, 2019, the company said in the SEC filing.But the fire is far from being under control, which means more damage is likely. PG&E said in the filing that the California Department of Forestry and Fire Protection estimates the fire won't be fully contained until November 30.The damages alone could cost up to .8 billion. according to a report from Moody's this week.PG&E may not have enough to cover the cost that, let alone any legal fees or fines it might have to pay. The utility said in its filing that it currently has .46 billion in cash after borrowing from an existing revolving credit line.Shares of PG&E (PCG) plunged more than 30% Wednesday following this disclosure and were briefly halted for volatility. The stock has now fallen by half since the Camp Fire began.The utility could need another bailout from the state of California if it's found to be liable for the Camp Fire.Governor Jerry Brown signed a bill in September that lets PG&E issue bonds backed by surcharges from the utility's customers. Those bonds would help pay for damages tied to deadly California wildfires in October 2017 caused by faulty PG&E equipment.The bill allows for the possibility that utilities could issue similar bonds for future fires, but that is not guaranteed.PG&E already faces one lawsuit on behalf of victims of the Camp Fire.A group of law firms that has dubbed itself the Northern California Fire Lawyers filed a suit Tuesday on behalf of Camp Fire survivors.The firms allege in the suit that "PG&E was negligent in failing to maintain its infrastructure and properly inspect and manage its power transmission lines." 2507
In an apparent effort to clear his name, Harvey Weinstein sent emails to several individuals about the criminal case against him in New York.Representatives for Weinstein confirmed to CNN the authenticity of an email written by the former film producer and published by TMZ on Wednesday.TMZ said it obtained the email from an unnamed source, and that the outlet was not among the recipients of Weinstein's recent emails. It was not clear who the direct recipient was of the email published by TMZ."I've had one hell of a year... the worst nightmare of my life. As you can see from these articles, the police have played a very difficult role in my investigation. All 3 police officers have either been retired, or repositioned from the SVU," Weinstein wrote. "The articles are self explanatory, but I'd like to speak to you on the phone if you have some time. There is more to this story...I appreciate your confidentiality. Have a read of these articles. I wish I didn't have to ask, but I'd be very appreciative of your time. Best, Harvey."CNN was unable to confirm what articles Weinstein referenced in his message.Juda Engelmayer, a publicist for Weinstein's attorney Ben Brafman, told CNN that Weinstein sent six to eight emails to "friends" this week but did not specify who the recipients were."As more information has been coming out that suggests that many of the original narrative were not completely accurate and combined with the difficulty in getting the narrative out, Harvey on his own initiative wrote letters to friends of his," Engelmayer said.Weinstein's goal, Engelmayer added, was to urge the recipients "to take a deeper look into the stories, into the history of it and properly vet what they are hearing and what they've heard."More than 80 women have accused Weinstein of wrongdoing ranging from unwanted advances to rape since The New York Times?and The New Yorker published investigations more than a year ago about Weinstein's alleged sexual misconduct.The producer was charged in May with rape and sex abuse in cases involving three women. In October, one of the six felony charges against Weinstein was thrown out after an NYPD detective was accused of coaching a witness.Weinstein has pleaded not guilty to the charges and has petitioned for the case to be dropped. 2335

ICYMI – @BarackObama joined a group of NBA Champions and first-time poll workers from @MoreThanAVote during #NBAFinals Game 1 to highlight the importance of voting. Don’t wait, make your voting plan and sign up to work the polls today at https://t.co/RzbxxkFmLa pic.twitter.com/lFQLfcuEG3— NBA (@NBA) October 1, 2020 324
House Republicans are unveiling key details and the text behind their tax legislation Thursday, but not without some reservations from rank-and-file members.In advance of the bill's release -- which will be called the "Tax Cuts and Jobs Act," according to a source in a meeting with GOP members Thursday -- a source shared a summary of the plan, which permanently lowers the lowers the corporate tax rate to 20% and limits the home interest deduction to loans up to 0,000.The bill will also increase the standard deduction for individuals and households, repeals the alternative minimum tax and increased the child tax credit to ,600. The House GOP bill will also finally repeal the estate tax in 2024.Members will see the tax framework Thursday morning when the House ways and means committee releases its bill that is expected to expand the child tax credit, repeal the estate tax, lower the corporate tax rate and reduce the number of individual tax brackets from seven to four.But there are still key questions about what will be in the bill and whether the leadership can wrangle the votes they will need to deliver President Donald Trump a major legislative victory by the end of the year. 1208
I watched with horror this week as USAID distributed taxpayer funded documents claiming “we cannot tell someone’s sex or gender by looking at them” and that not calling oneself “cis-gendered” is a microagression I’m not cis-anything. I’m a woman.— Merritt Corrigan (@MerrittCorrigan) August 3, 2020 306
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