Governor Gavin Newsom continues to be a roadblock to PG&E. The governor's lawyers told a U.S. bankruptcy judge that they want to grill PG&E about the company's plans to borrow billions of dollars and sell more stock. To help pay the $13.5 billion owed to wildfire victims. PG&E also needs to raise $12 billion owed to insurers and government agencies.
A new local alternative to PG&E is surging forward on plans to become viable. Calling themselves "Butte Choice Energy Authority." A new website has just been launched, with information on the 'Community Aggregate Program' and what it means for people who live in the City of Chico and in the unincorporated parts of Butte County. Customers will be automatically enrolled, but can opt-out if they choose to continue buying power from PG&E.
The Town of Paradise is facing financial difficulty as it works to rebuild from losses after the Camp Fire. So far, Paradise has received 800 applications for building permits. The town has issued 560 permits and 44 families have completed construction and moved into new homes. Despite the financial challenges, town leaders say there is still funding available for those looking to rebuild.
Household debt jumps the most in 12 years, Fed report says
Household debt surged by more than $600 billion in 2019. The New York Federal Reserve says that it is the biggest annual increase since just before the financial crisis. The growth is attributed mainly to mortgage debt balances, which increased $433 billion. Balances for auto loans and credit cards also increased.
Job openings tumble to new low
Job openings tumbled again in December to their lowest levels in two years. With unemployment remaining at a 50-year low, the labor market tightened again as 2019 came to a close. Total vacancies are now at 6.4 million, down from nearly 6.8 million in November. A decline in demand from several industries over the past several months has closed the gap and could be sending a signal that the job market is about to peak.
China is confirming over 1,100 deaths. The National Health Commission says 2,015 new cases have been reported over the last 24 hours. That number is down, though, from the day before. The total number of cases globally is now just shy of 4,500. Although many health experts say a large number of others infected have gone uncounted. Postal services worldwide say delivery is being affected by the cancellation of many flights to China.
All 4 federal prosecutors quit Stone case after DOJ overrules prosecutors on sentencing request
All four prosecutors in the government's case against Roger Stone have resigned. Their resignations follow a justice department plan to reduce the recommended sentence for Stone. A longtime associate of president trump. A jury convicted stone last November of lying to Congress and obstructing the investigation into Russian meddling in the 2016 presidential election. Democrats are asking the inspector general to investigate.
The results are in for the New Hampshire primary, the first in the nation. Unlike results from Iowa, this time there is a clear winner. Vermont Senator Bernie Sanders took first place, followed closely by former Indiana mayor Pete Buttigieg. Senator Amy Klobuchar also celebrated a strong showing which landed her in third place.
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