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SACRAMENTO, Calif. (AP) — Pacific Gas & Electric's key lenders on Tuesday offered a billion plan to pull the utility out of bankruptcy and give the tarnished company a new name.The proposal filed in U.S. Bankruptcy Court would set aside up to billion of that billion to pay claims on the 2017 and 2018 wildfires caused by PG&E equipment, the Sacramento Bee reported.The plan offered by PG&E's leading bondholders would compete with an alternative that the newspaper says is being drafted by PG&E. Normally the company in bankruptcy has first crack at proposing an exit plan, but the bondholders said in a court filing that they filed their plan because PG&E has "wasted crucial time needlessly."The bondholders also want to rebrand PG&E as Golden State Power Light & Gas Company.Asked about the bondholders' plan, the utility said in a statement that it was considering all options as it navigates the bankruptcy process.The new proposal came four days after Gov. Gavin Newsom, a Democrat, floated the idea of a billion package to deal with the costs of future wildfires, paid for by ratepayers and shareholders of PG&E and the other two big electric utilities in California.Newsom's plan does not offer any cash for PG&E's existing liabilities but would revise state law to give utilities more certainty about recovering costs from ratepayers — enough stability that Newsom believes will allow PG&E to borrow the money it needs to pay existing claims, according to the Bee.The bondholders include some of the biggest investors on Wall Street, including Elliott Management, Pimco and Apollo Global Management. They have been quietly promoting a PG&E restructuring plan for weeks in conversations with legislators, Newsom's aides and others. Tuesday's court filing marks the first time they have taken the proposal public."Substantial new capital must be infused into the company," the bondholders said in their court filing.The governor's office had no immediate comment on the bondholders' proposal.Like Newsom's plan, the proposal is "ratepayer neutral" — meaning, customer rates would not go up to pay the costs of getting PG&E out of bankruptcy.But ratepayers would pay: The plan calls for a .50 monthly charge, a feature of PG&E bills since the 2001 energy crisis, to be extended for several years to help raise dollars for a wildfire insurance fund proposed by Newsom last week. That fund would help pay claims for future fires.___Information from: The Sacramento Bee, http://www.sacbee.com 2574

Retiring Michigan Congressman Paul Mitchell says he is leaving the Republican Party over efforts to overturn the 2020 Presidential Election.Mitchell revealed he would become an Independent in an interview with CNN. The Congressman who represents Michigan's thumb told the network he wrote to GOP leaders and notified them of his decision.He also requested that the Clerk of the House change his party affiliation. Grand Rapids area Congressman Justin Amash took similar actions in 2019, before becoming a Libertarian earlier this year. Amash did not run for reelection this year.Mitchell announced he would not run for reelection in July of 2019. Republican Lisa McClain won the general election and will take over the 10th District once the new Congress is sworn in next month.This story was first reported by WXYZ in Detroit, Michigan. 845

RTW Retailwinds, the parent company of retail chain New York & Co., announced Monday that is filing for Chapter 11 bankruptcy — the latest blow to an industry whose struggles were taken to new heights by the coronavirus pandemic.The company said in a press release Monday that filed for bankruptcy relief in New Jersey. In the statement, the company hinted that all of its more than 400 brick-and-mortar stores could close for good.In recent months, sales have fallen at New York & Co. as the pandemic forced shutdowns at non-essential retail stores across the country. In addition, massive layoffs and a large increase in employees working from home shrunk demand for professional attire. Other purveyors of businesswear have also fallen on hard times — Brooks Brothers filed for bankruptcy last week.CNN reports that New York & Co. furloughed a "significant portion" of store employees in March and that last week, the company was delisted from the New York Stock Exchange.New York and Co. joins an exponentially growing list of retailers who have filed for bankruptcy in recent weeks, including Sur La Table, JC Penney, Pier 1 Imports J. Crew and Niemen Marcus. 1184

RIVERSIDE, Calif. (KGTV) - An elementary school in Riverside was evacuated Tuesday after reports of a parent barricaded in a classroom.Police say the 70-year-old teacher being held inside the classroom was rescued and taken to the hospital to be checked out. According to police, the suspect was injured during an officer-involved shooting and was taken to the hospital. Police have an update in a press conference following the incident:??????? KABC in Los Angeles reported the incident happened at about 11 a.m. at Castle View Elementary School. 575

RICHMOND, Va. – Virginia Governor Ralph Northam and First Lady Pamela Northam have tested positive for COVID-19.On Wednesday they were notified that a member of the Governor’s official residence staff, who works closely within the couple’s living quarters had developed symptoms and had tested positive for COVID-19.The Governor and First Lady received PCR nasal swab tests Thursday afternoon and both tested positive for COVID-19, the governor’s office said.They added that Governor Northam is experiencing no symptoms and First Lady Pamela Northam is experiencing mild symptoms.The release said the Governor and First Lady will isolate for the next 10 days and evaluate their symptoms.The Governor will fulfill his duties from the Executive Mansion.“As I’ve been reminding Virginians throughout this crisis, COVID-19 is very real and very contagious,” said Governor Northam. “The safety and health of our staff and close contacts is of utmost importance to Pam and me, and we are working closely with the Department of Health to ensure that everyone is well taken care of. We are grateful for your thoughts and support, but the best thing you can do for us—and most importantly, for your fellow Virginians—is to take this seriously.”The Governor and First Lady are working closely with VDH and the Richmond Heath Department to trace their close contacts.This story originally reported on WTKR.com. 1408

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