A federal bankruptcy judge approved two PG&E settlements worth $25 billion, but Gov. Gavin Newsom could still throw a wrench in the troubled utility's plans for exiting bankruptcy.
Even though PG&E and attorneys for fire victims eliminated a requirement that Newsom sign off on their $13.5 billion settlement, the bankrupt utility still needs the governor's support for these multi-billion dollar settlements in order to exit bankruptcy by a June 30 deadline.
Newsom wants PG&E to replace its entire board of directors — including CEO Bill Johnson — and make it easier for the state to take over if the utility continues to screw up.
Settlements, board changes or dumping the CEO ... I think most Californians just want to see the company keep its equipment from starting deadly infernos.