The plunge in the cost of wind and solar power that bankrupted more than two dozen manufacturers is forecast to spur a tripling of investment in renewables by 2030 and to reduce the grip fossil fuels have on world energy supply.
As Texas warns of potential power shortages and blackouts this summer, the state’s biggest electricity producer is teetering toward bankruptcy. That may turn out to be a boon to the $34 billion Texas power market.
What if a corporation raised $500 million in a securities offering on the premise that the proceeds would go for operating expenses, then disclosed a few months later that $300 million of this amount would instead be used to service a debt that wasn’t disclosed in the offering document?
Nine years ago, California Democrat Gray Davis became the first U.S. governor in 82 years to be recalled by voters. The state’s 20 million taxpayers still bear the cost of his four years and 10 months on the job.
Dec. 11 (Bloomberg) –- David Crane, a public-policy lecturer at Stanford University who worked as an economic adviser to former Republican Governor Arnold Schwarzenegger, talks with Bloomberg's Mark Niquette about the pay packages of California's public employees. Payroll data compiled by Bloomberg on 1.4 million public employees in the 12 most-populous states show that California has set a pattern for lax management, inefficient operations and out-of-control costs. (Source: Bloomberg)
California Governor Jerry Brown has received praise for proposing a balanced state budget for the fiscal year starting July 1. The last time California proposed a balanced budget was in 2007, when Arnold Schwarzenegger was governor.
NRG Energy Inc.’s $1.7 billion stock purchase of GenOn Energy Inc. would create the largest U.S. independent electricity generator with more market strength to withstand slumping power prices and capitalize on an eventual rebound.
Republicans in the California Senate are drafting legislation targeting state worker compensation that exceeds pay levels for public employees elsewhere in virtually all wage categories and job descriptions.