Bill, Ron Perry, California discussed on Morning Edition
To medium sized businesses. Fifty percent of our revenue is Bill directly through the utility on the PG knees. Actual Bill itself Perry saw this coming just after the campfire ignited his team started figuring out how to Bill customers directly. They're only third of the way there now that the prospect of chapter eleven is real the ripple effects are being seen. One thing is for sure it will be complicated. Professor seven Bornstein of UC, Berkeley, Haas. School of business says in bankruptcy, the utility will. Federally have two bosses with competing interests. The regulators are trying to make sure that the product still gets delivered that the customer service is maintained and so forth and that workers are treated well. Whereas the bankruptcy judge is much more focused on making sure that the creditors. Get paid. And unlike most bankruptcies which deal with past liabilities. Attorney Suzanne Oland says this one would have to account for incidents that haven't even happened yet a wildfire that might occur in twenty nineteen or twenty twenty chapter eleven has never been used to address a future, unknown liability like this. Let's reiterate that bankruptcy used preventatively is something the law was not designed for but for Ron Perry. This much is known his business will take a hit. All he can do is try to limit the impact for the California report. I'm really dramatically in Oakland. Support for the California report comes from Eric and Wendy Schmidt whose fun for strategic innovation.