Hold onto yer hats, cowpokes.... this here ride is about to get a LOT MORE
interesting!


http://www.lawfirmnewswire.com/2014/10/stay-lifted-in-lawsuit-over-northern-california-pge-explosion/


While this ruling is related to a specific utility ( PG&E ), depending on
how it goes, the implications are HUGE for ANY business in ANY sector.
What the suit alleges is if an executive(or group of executives) knowingly
make decisions that result in failure to expend monies to support safe
operations and actions, those INDIVIDUALS can be held liable for their
actions and personally held financially responsible for any resulting
damages.

I've long held the opinion in this PG&E case that fines levied for the
damages being borne by the shareholders didn't make much sense. It was the
executives who were in place at the time decisions were made to NOT SPEND
the money allocated in a rate case for safety issues and system upgrades.  A

nd these SAME executives had been granted stock options that they exercised
and later sold after they "golden parachuted" out, resulting in HUGE
profits... and also resulted in them no longer BEING STOCKHOLDERS.... so
they receive NO penalties for their selfish, money grubbing, irresponsible
actions.



-- 
Larry
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*----Lawrence J. MedinaDanville, CARIM Professional since 1972*

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