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A comment on PG&E stock plunged 32% after it disclosed a possible link to California’s fire. Parent comment

Re:PG&E stock plunged 32% after it disclosed a possible link... by koboll on Thursday November 15, 2018 @09:06AM (#18459291)
A counterpoint might be that binding private enterprise by strict liability rules might coerce it to be extra cautious not to cut corners that lead to fires -- as opposed to a state owned company which might have less to fear from lax practices.

Although, it's debatable how avoidable starting fires is in the bone-dry tinderbox of 21st-century California, even if you stick closely to best practices.

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Re:PG&E stock plunged 32% after it disclosed a possible link... by sjg007 on Thursday November 15, 2018 @10:50AM (#18460185)
What you describe is exactly what PG&E is today. Those strict liability rules did not prevent them from cutting corners. They estimate damages at 15B and their insurance and assets are worth $5B. So do the math.... taxpayers will have to pay for rebuilding and if PG&E survives will they pass costs on to rate payers (aka the same people whose houses burnt down) or will they tax PG&E more or ?. Maybe PG&E will become insurance company owned since they will owe the insurers tons of money since they can't pay out for liability.
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