PG&E To File Bankruptcy Within Hours; Joins Lehman And WorldCom In Tragic Trifecta

Confirming earlier reports that distressed California utility PG&E had rejected a proposal by some of the world's most prominent investors that would keep it out of bankruptcy, moments ago Bloomberg reported that the board of the embattled utility which is facing $30 billion in wildfire liabilities, voted late Monday to file for bankruptcy protection as soon as midnight.

In pursuing a Chapter 11 bankruptcy filing, PG&E is declining a proposal by an investing group led by Paul Singer’s Elliott Management that would’ve been backed by $4 billion in bonds and given the company enough cash to stay avoid bankruptcy while working through its liabilities. A second group of investors including Ken Griffin’s Citadel and Leon Black’s Apollo who had pitched a rival plan, were also rebuffed.

By rejecting the last minute rescue bids, PG&E - which was rated investment grade as recently as a few weeks ago by both S&P and Moody's- is set to file one of the biggest U.S. utility bankruptcies of all time, with over $30 billion in debt about to be in default. The company which serves 16 million customers, said a Chapter 11 filing is the only way it can handle the crippling costs of 2017 and 2018 wildfires that its equipment has been blamed for igniting. Since November, when California was hit by the deadliest fire in its history, the company has seen its shares plunge by 75 percent and its credit rating cut to junk.

By going from investment grade to bankruptcy within one year, PG&E will be what BofA recently dubbed not a "fallen angel" but a "failing angel", representing a singular event: when it files for bankruptcy some time in the next 12 hours, PG&E will become the third largest IG default since 1999, behind Lehman and Worldcom, with $17.5bn of index eligible debt.

https://www.zerohedge.com/news/2019-01-28/pge-file-bankruptcy-within-hours-joins-lehman-and-worldcom-tragic-ranking

VIDEO – Antifa Member Shot To Death After Drawing Down on Eugene, OR Cops in School

Charlie Landeros, aged old enough to know better, loved his far-left activism. He belonged to an armed Antifa group we’ve covered, training “oppressed peoples” in armed self-defense. And now he’s no longer with us after drawing down on two Eugene, Oregon police officers who attempted to arrest him at a Eugene middle school there.

Police believe the radical Antifa activist showed up at his daughter’s school on January 11 intending to pick her up. Cascade Middle School administrators, however, knew that he had recently lost custody of his child and called police to remove him from school property. What they didn’t know was Charlie had a gun on his hip along with a backpack full of loaded magazines and more 9mm ammunition.

When police arrived, Landeros claimed they had no jurisdiction at the school. The Eugene officers had a different take. And when Landeros failed to peacefully leave, things went south quickly for Mr. Antifa firearms instructor.

The Eugene Police Department has released video of the shooting:

https://www.thetruthaboutguns.com/2019/01/john-boch/video-antifa-member-shot-to-death-after-drawing-down-on-eugene-or-cops-in-school/

>>4948249

Forgot yt link: https://www.youtube.com/watch?v=47swe9Q6cJ8

A Republican N.J. lawmaker just switched parties. Here’s why she’s now a Democrat.

In a rare and unexpected move, longtime Republican state Sen. Dawn Marie Addiego of Burlington County announced Monday she is switching parties and becoming a Democrat.

“As gridlock in Washington dominates the news, it has become increasingly clear that in order to effect change you have to be part of the discussion and not on the outside looking in,” Addiego, who has represented South Jersey’s 8th District since 2010, said in a statement.

“The people of the 8th District did not elect me to be content in the role of loyal opposition," the 56-year-old attorney added.

The move bolsters Democrats' ever-increasing hold of New Jersey government, giving the party an even larger majority in the Senate, the upper house of the state Legislature.

https://www.nj.com/politics/2019/01/a-republican-nj-lawmaker-just-switched-parties-heres-why-shes-now-a-democrat.html

>>4948506

A lawyer of course.

RINO forced to reveal who she really is?

Need moar of this.

>>4948535

NJ State Sen