{"id":20986,"date":"2019-11-01T17:13:21","date_gmt":"2019-11-02T01:13:21","guid":{"rendered":"https:\/\/associatednews.info\/content\/calif-governor-seeks-to-jumpstart-pge-bankruptcy-talks-threatens-state-takeover\/"},"modified":"2019-11-01T17:13:21","modified_gmt":"2019-11-02T01:13:21","slug":"calif-governor-seeks-to-jumpstart-pge-bankruptcy-talks-threatens-state-takeover","status":"publish","type":"post","link":"https:\/\/associatednews.info\/content\/calif-governor-seeks-to-jumpstart-pge-bankruptcy-talks-threatens-state-takeover\/","title":{"rendered":"Calif. Governor Seeks To ‘Jumpstart’ PG&E Bankruptcy Talks; Threatens State Takeover"},"content":{"rendered":"

By Richard Gonzales<\/a><\/span> <\/p>\n

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\n From left, LA City Councilman Mike Bonin, California Gov. Gavin Newsom and LA Mayor Eric Garcetti tour a burned home in Brentwood, Calif., on Tuesday.<\/p>\n

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Wally Skalij\/AP<\/p>\n

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Wally Skalij\/AP<\/p>\n

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California Gov. Gavin Newsom said Friday that he wants to speed up Pacific Gas & Electric’s bankruptcy case, calling on the beleaguered utility’s executives, creditors and shareholders, as well as wildfire victims, to reach “a consensual resolution” to the negotiations before next year’s wildfire season.<\/p>\n

“We want to broker that mediation and are calling on all the parties to come in early next week to jumpstart those negotiations,” Newsom said in a Sacramento news conference.<\/p>\n

Newsom left little doubt that he is looking beyond the PG&E bankruptcy case and that he envisions a future in which the state takes an active role in restructuring the California’s largest utility.<\/p>\n

“It is my hope that the stakeholders in PG&E will put parochial interests aside and reach a negotiated resolution so that we can create this new company and forever put the old PG&E behind us,” Newsom said in statement<\/a>. “If the parties fail to reach an agreement quickly to begin this process of transformation, the state will not hesitate to step in and restructure the utility.”<\/p>\n