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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
SACRAMENTO, Calif. (AP) — California's state auditor says the California State Lottery skimped on giving million in revenue to fund public education funding and spent 0,000 on food and travel expenses without considering cheaper options. The auditor's report made public Tuesday says the lottery agency should have accounted for an increase in profits for the fiscal year that ended in June 2018 by providing million in public education financing.The auditor also recommended that the state legislature amend the Lottery Act to ensure audits of the lottery's procurement process at least once every three years.The California State Lottery says in a written response accompanying the audit that it disagrees with the auditor's findings and that the agency gives the most money it can for education.“Lottery revenues and contributions to education were declining in the years prior to the passage of AB 142. The year before this change, the Lottery’s contributions to education were approximately .05 billion. In contrast, last year the Lottery provided .8 billion–the highest contribution to date. Had the Lottery utilized CSA’s interpretation of the law, it would have had to intentionally suppress sales for certain games, resulting in fewer dollars to public education," CA Lottery wrote. “The Lottery disagrees with CSA’s underlying conclusions of the value of its Fairs and Festivals program. The Lottery must continually raise brand awareness, incentivize and persuade California adults to voluntarily purchase Lottery products to meet its mandate to provide supplemental funding to education." 1623
SACRAMENTO, Calif. (AP) — California Democratic Party Chairman Eric Bauman was accused of inappropriate behavior on a campaign bus days before the Nov. 6 election, a Democratic official said Tuesday, a day after Bauman took a leave of absence.Bauman was among those aboard a bus during a statewide get-out-the-vote tour. Two young women on the bus reported alcohol was consumed and inappropriate sex talk occurred on Nov. 1, said David Campos, chairman of the San Francisco Democratic Party.The bus was scheduled to arrive in San Francisco the next day at an event with U.S. House Minority Leader Nancy Pelosi. Her campaign team learned of the incidents aboard the bus and told state party officials that Bauman and the bus should stay away, Campos said.It appeared Bauman engaged in the misbehavior and did not intervene to stop others from acting inappropriately, Campos said.RELATED: Top California Democrat on leave amid sex misconduct inquiry"We felt, and I felt, it was important for us, given we had serious credible allegations, not to have Chair Bauman attend this get-out-the-vote event in San Francisco," said Campos, who first shared details of the allegations with the Bay Area Reporter, a publication serving the LGBT community. Bauman is the party's first openly gay chairman.Allegations of misbehavior by Bauman first surfaced last week in a letter by party Vice Chairman Daraka Larimore-Hall. It appeared on social media and accused Bauman of sexual harassment and assault against unidentified accusers.On Saturday, Bauman acknowledged the party had started an investigation and on Monday he announced he was taking a leave of absence. He provided no details on the allegations. Campos said he doesn't know if Larimore-Hall's letter relates to the alleged incident on the bus or something else, but he said he was not aware of any allegations of sexual assault on the bus."We did not hear anything about possible sexual assault," he said.Larimore-Hall did not respond to multiple emails and a phone message from The Associated Press Tuesday. Jorge Aguilar, executive director of Pelosi's campaign, and Bauman did not immediately respond to emails seeking comment.In a statement Monday announcing Bauman's leave, party spokesman Mike Roth said "Bauman believes this decision is the best way to ensure the independence and integrity of the process. The Party is confident that the procedures in place will allow for all parties to come forward freely and provide for a thorough and complete review."Alex Gallardo-Rooker, another party vice chair, is serving as acting chairwoman during the investigation. 2627
SACRAMENTO, Calif. (AP) -- California is rolling out a voluntary smartphone tool to alert people if they spent time near someone who tests positive for the coronavirus as cases and hospitalizations soar throughout the state.Gov. Gavin Newsom announced the tool on Monday and said people can opt in to use it starting on Thursday.Officials say the CA Notify tool doesn't track people's identities or locations but uses Bluetooth wireless signals to detect when two phones are within 6 feet of each other for at least 15 minutes.Visit canotify.ca.gov for information on how CA Notify works, including how to download and install on your mobile device.Sixteen other states plus Guam and Washington, D.C. have made available the system co-created by Apple and Google. Most residents of those places aren’t using it. 819
SACRAMENTO, Calif. (AP) — The California Assembly has apologized for discriminating against Japanese Americans and helping the U.S. government send them to internment camps during World War II. The Assembly passed a resolution Thursday that also apologized for discrimination leading up to the war. It comes a day after California Gov. Gavin Newsom and the governors of Idaho and Arkansas declared Feb. 19 a Day of Remembrance. That's the day in 1942 when President Franklin D. Roosevelt signed an executive order leading to the imprisonments. California lawmakers gave somber statements and hugged and shook hands with people who were imprisoned in the camps and with their families.The Democratic assemblyman who introduced the resolution said the state would be apologizing for a time when "California led the racist anti-Japanese American movement.”The measure received bipartisan support, a rarity in the Legislature. 930