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Stock impact report

California Is in Big Trouble Again [Yahoo! Finance News]

Pacific Gas & Electric Co. (PCG) 
Last pacific gas & electric co. earnings: 5/1 08:21 am Check Earnings Report
US:NYSE Investor Relations: finance.yahoo.com/quote/pg
California Is in Big Trouble Again Opinion) -- Ten to 15 years ago, pundits liked to speculate that California was on the verge of becoming a failed state. In the early years of the new century the state suffered widespread blackouts thanks to a botched deregulation of its electricity market. Meanwhile, with long-standing ballot initiatives requiring a legislative supermajority to pass tax increases, and education expenses ballooning, the state’s budget seemed permanently mired in the red. Arnold Schwarzenegger, governor at the time, managed to cobble together a deal to limit deficits, but the Great Recession sent them soaring again. The collapse of the housing bubble hit California hard, pushing unemployment above 12%. Some commentators suggested that California’s governance model, heavy on regulation and subject to the whims of ballot initiatives, could lose out to the more laissez-faire systems of states like Texas. California battled back. Under Schwarzenegger's successor, Jerry Show less Read more
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