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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
Housing and Urban Development Secretary Ben Carson detailed his wife's involvement Tuesday in picking out a dining room set for his office, telling a House subcommittee, "I left it with my wife."Carson said that his wife, Candy, selected "a style and a color" of the furniture set that ultimately cost HUD ,000."A style and a color was selected by her with the caveat that we were not happy with the pricing and they needed to find something," Carson told lawmakers.He went on to defend her, "If anybody knew my wife, they would realize how ridiculous this was. She's the most frugal person in the world."A HUD spokesperson had previously told CNN in a statement last month that "Mrs. Carson and the secretary had no awareness that the table was being purchased." Internal HUD emails indicated that the Carsons had picked out the furniture.Carson said Tuesday the issue of replacing the dining room set was raised "because people were being stuck by nails, the chairs collapsed with somebody sitting in it, it's 50 years old.""I said, 'OK, we can potentially do that.' I asked my wife also to help me with that," he told lawmakers."They showed us some catalogs. The prices were beyond what I wanted to pay. I made it clear that just didn't seem right to me. And, you know, I left it with my wife," he said.Carson argued that he wasn't concerned about the furniture because he had more important issues to handle as HUD secretary.Carson said he first heard of the ,000 price tag after it was reported and "immediately" canceled the order from the interior design firm Sebree and Associates in Baltimore, Maryland. He testified that the money spent on the dining set was returned to the US Treasury."I'm not really big into decorating. If it was up to me, my office would probably look like hospital waiting room," quipped Carson, who previously worked as a neurosurgeon.He said his wife is not involved in any other decisions regarding the purchasing of furniture for HUD.Carson was also asked about inconsistencies in the messaging from the agency regarding how involved he and his wife were in the process to purchase the dining set compared to what internal HUD emails indicate. The emails were released through a Freedom of Information Act request."There appears to be some contradiction in the record about your statements to the press indicating early on that you had no knowledge of this purchase," Rep. David Price, D-North Carolina, said to Carson.Carson denied he ever spoke directly to the press.When Price pointed to the statement that the HUD spokesman provided to CNN at the time, Carson distanced himself from his spokesman's comments."I would respectfully tell you what I said. I can tell you what I did. I do not intend to be responsible for what anybody else said," Carson said.Carson then said that the content of his statement made via Facebook?where he personally addressed the issue "is quite accurate." 2953

Images from Niagara Falls are going viral online, showing the stark difference in how Canadian and American companies and customers are handling social distancing guidance during the pandemic.The pictures and videos being shared compare two boats, one with a lot of people onboard and one with very few people onboard. The Canadian tour boats are seen with hardly any people onboard, while the American boats have people shoulder-to-shoulder. @samatha.1617 Niagara Falls, the Canadian boat versus the American boat ##maidofthemist ##canada ##niagarafalls ##fyp? Titanic - Titanic For those not familiar with the international site along the New York-Ontario border, on the American side is a company operating boat tours called Maid of the Mist which gives its passengers blue rain ponchos and on the Canadian side is Hornblower Cruises which gives their riders red ponchos.Maid of the Mist recently posted on Twitter thanking their customers for social distancing. 977
House Democrats have failed to override President Donald Trump’s veto of a measure that would have reversed the Education Department’s tough policy on loan forgiveness for students misled by for-profit colleges. The House voted 238-173 on Friday in support of the override measure, coming up short of the two-thirds majority needed to send it to the Senate. It's a victory for Education Secretary Betsy DeVos, whose policy on student loan disputes was in jeopardy after Congress voted to reverse it in March. It now remains in place and will take effect July 1.The resolution would have repealed the final rules related to discharges of loans for borrower defense to loan repayment and other circumstances and prohibit reissuing similar rules in the future, according to the Congressional Budget Office. 812
Hurricane Irma was a very scary experience for residents of Florida. A deputy with the Osceola County Sheriff's Office helped one of those scared residents calm their nerves, even for just a moment.As they wrote in their post: 239
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