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Old 01-14-2019, 02:18 PM   #61
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All buys are good buys with money you don't care about! But heck yeah, go for it, except I'd wait and watch for now.
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Old 01-14-2019, 02:45 PM   #62
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If you had 500 dollars you didn't mind kissing goodbye...good buy?
I’d throw a grand at it. The upside far outweighs the down imo.

They play was back when I mentionened it with tvix. That was when the short should have started imo.

Anyone watching tvix? Wonderful two weeks for anyone day trading it.
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Old 01-14-2019, 02:47 PM   #63
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How does this work then, they fold completely out and Edison takes over? Get bought out? Stop paying dividends? We don't get payments on my wife's shares, what's the danger in adding to them in a crash?
PG&E has not paid dividends in over a year and almost certainly won't in the future. What will probably happen is that either there is a reorganization or buyout.

As to adding to them. They are worth 1/10th what they were about a year ago, IIRC. Eventually you may end up getting a small part of a future company, or not. In any case, adding to a position of a company going bankrupt is incredibly ill advised. You'd be far better off buying an index fund. In my opinion.
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Old 01-14-2019, 03:10 PM   #64
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PG&E has not paid dividends in over a year and almost certainly won't in the future. What will probably happen is that either there is a reorganization or buyout.

As to adding to them. They are worth 1/10th what they were about a year ago, IIRC. Eventually you may end up getting a small part of a future company, or not. In any case, adding to a position of a company going bankrupt is incredibly ill advised. You'd be far better off buying an index fund. In my opinion.
It’ll be a re-org imo. That’s if they actually file.
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Old 01-14-2019, 05:09 PM   #65
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I should mention that I'm a 35yo w/ 28 years before my pension kicks in. Never invested before, don't have a massive investing portfolio. Just already have some of this, and checking to see if this is an opportunity to add to existing holdings.
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Old 01-14-2019, 06:55 PM   #66
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I should mention that I'm a 35yo w/ 28 years before my pension kicks in. Never invested before, don't have a massive investing portfolio. Just already have some of this, and checking to see if this is an opportunity to add to existing holdings.
You already own some shares of a company so poorly run that it is going bankrupt. Why do you want to own more?
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Old 01-14-2019, 06:59 PM   #67
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Itíll be a re-org imo. Thatís if they actually file.
Are you familiar with Chapter 11? First the bondholders, then the pensioners, then the contractors and suppliers get paid. If there's anything left ( PG&E has what may be $30 billion in fire liability and possible criminal charges in the wings) the share holders get it. They have $1.4 billion in cash. Of course they will come back into business in some form. The former shareholders may end up with ten cents on the dollar. Or not. They are on the utter bottom of the pile. Not in my wildest dreams do I consider this company an investment.
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Old 01-14-2019, 07:03 PM   #68
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California isn't a friendly state for re-org debt washing, at least for non-gov't incestuous corps. If they're still basically the same company after re-org, the state could go after them. Probably not gonna happen with PGE because "we need them", but you never know.
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Old 01-14-2019, 07:06 PM   #69
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Lauren Sanchez has to have the most expensive ass on the planet. Bezos is paying $60B for it.
The bimbo sends to her friends the corny text messages he sent her and dickhead friends provide them to the Enquirer, making a fool out of the guy. Doubt the wife isnp going to show him much mercy, Poor billionaire.

Anyhow, I don't see any of this having a good outcome for the stock. I've been wanting to get in and perhaps this could present an opportunity.
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Old 01-14-2019, 07:15 PM   #70
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Old 01-14-2019, 07:40 PM   #71
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You already own some shares of a company so poorly run that it is going bankrupt. Why do you want to own more?
It's not Montgomery Ward, they filed the same in 2001. How does this situation differ from that one? Did holders in 2001 lose everything, or did their shares rebound?
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Old 01-14-2019, 08:08 PM   #72
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It's not Montgomery Ward, they filed the same in 2001. How does this situation differ from that one? Did holders in 2001 lose everything, or did their shares rebound?
You know, you may be right. It might be a great investment. Not for me, but for you.
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Old 01-14-2019, 08:17 PM   #73
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Didn't work out good for Patriot Coal shareholders when they filed for chapter 11.
PGE has lots of room to fall yet.
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Old 01-14-2019, 08:42 PM   #74
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You know, you may be right. It might be a great investment. Not for me, but for you.
Not trying to come off as a barfer, it's a legitimate question. Power producer for the wealthiest area in the nation really going to fold? Can someone explain if this situation differs from then? I'm not going to rush out, I'm sure news coverage is going to drive it down further, I'm just ignorant on the multiple complexities to the situation.
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Old 01-14-2019, 09:12 PM   #75
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Not trying to come off as a barfer, it's a legitimate question. Power producer for the wealthiest area in the nation really going to fold? Can someone explain if this situation differs from then? I'm not going to rush out, I'm sure news coverage is going to drive it down further, I'm just ignorant on the multiple complexities to the situation.
Yes. They are going to fold. The same infrastructure, with most of the same employees will rise out of the ashes under new ownership. The whole point of Chapter 11 is to allow an ongoing business to start anew by shedding debt. The bonds get paid first, but PG&E has so many unsecured bonds that they will end up getting lumped in with shareholder equity in the pay out. At the very bottom of the barrel. The secured bonds are trading at 75% of face now, meaning that is what they expect to get back.

Don't get me wrong, if you are able to buy 10,000 shared of PG&E at 97 cents, it might be a huge fucking score. At the current price I think you would lose your shirt. My question still stands. Why would you double up a position of a company that is having huge problems rather than invest in a sound company?

I wouldn't be surprised to see PG&E bought out for $4-8 billion by someone. Someone willing to deal with the huge underlying problems.
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