As California's governor threatens action on PG&E, taking ownership of the problem could bring political risks
By Alejandro Lazo Nov. 10, 2019 10:00 am ET SAN FRANCISCO— California Gov. Gavin Newsom recently ended weeks of traversing burned down, blacked out and evacuated parts of this state with a dramatic promise: If PG&E Corp couldn’t fix its own problems, he would consider a government takeover.
Until now, Mr. Newsom, 52 years old, has had a smooth first year, helped by a booming economy that allowed for spending increases on a number of programs. The former San Francisco mayor and lieutenant governor also has made his mark by repeatedly engaging President Trump in public spats that play well in the left-leaning state.
On Tuesday, Mr. Newsom convened a meeting in Sacramento with PG&E and insurance industry executives, wildfire victims and debt and equity investors aimed at expediting the company’s exit from bankruptcy, improving its safety standards and limiting the need for more preventive power outages. “This problem is unsolvable under the current situation,” Mr. Freeman said. “In the meantime, we are going to have to put up with a lot of anguish.”
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