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Subject:  Sold My PCG Bonds Date:  11/7/2019  10:23 AM
Author:  Arindam Number:  36674 of 36887

PG&E is Northern California's provider of electricity and natural gas. My Dad worked for them as a power plant operator. Our family vacationed at their camps, and still does. Even as kids, we owned stock in the company. "The company" was "our" company. So all of us have been disheartened by their troubles and catastrophes, self-induced or not, and were impacted when the dividend was cut and now by their filing for bankruptcy (a second time).

For reasons I do not understand, prices on their defaulted debt have held up well. So I got out, and with a small profit. I had bought their 6.05's of '34 @96.801 and sold @103.009. I had bought their 4's of '46 @88.58 and sold @91.25.

Were he still alive, my Dad would be heart-broken by current events. But the company is stumbling from one screw-up to the next, whereas its Southern Cal competitor has been actively mitigating potential troubles.
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