Regarding the fine that is going to be imposed on PG&E the two things that need to be considered is that one the fine is to small. But two is that the wrong people are going to pay the fine. The fine needs to be paid by the Managerial class who ripped off the public over the last past 25 years. Eventually killing 16 people. There were additions to the bills that rate payers paid, after the Loma Preta, for the pipeline upgrades, These additions were never carried out, instead the money was put into the managerial bonuses, and given to shareholders as a bonus, so the people who need to pay this fine are: 1: The Chief Executives. 2: The Chief Finical officers who okayed this transactions. 3: The Board members who voted on this action and profited from this action. 4: the accountants who chose the way the money was used to benefit the bosses and the shareholders. 5: Shareholders who benefitted from that transaction, 6: Finally the engineers who who failed to do their jobs in ensuring that the pipe lines were inspected. I suspect that they were curtailed from doing the job by the finical constraints placed on them by the then present board\ This fine comes needs to come from the gains that were made by this action, so it needs to come from the massive bloated pension plans that the past board members receive, and from the past holders of shares, not necessarily from current holders. So Who is going to be expected to pay the fine? the shareholders supposedly, but remember, that all corporate fines seem to be counted as tax deductions, so the real losers yet again, will be the taxpayers, yet again. That is what is wrong with capitalism right now.
Posted on: Wed, 03 Sep 2014 17:36:02 +0000
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