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PG&E Corporation Message Board

  • StockPlunger StockPlunger Mar 16, 1999 2:00 PM Flag

    Block Trade

    Does anyone know when PG&E does & doesnt do block
    That seems to be the only time the stock goes
    significantly up.

    The dividend didnt even cause the
    stock to go up very much.

    I heard PG&E's stock
    is suppose to go down to 29 over the next 2-3

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • When they get the cash! Last time they got the
      proceeds from the restructuring bonds they went out to the
      market and bought. That drove the stock up! Late 1997
      early 1998

      I thought they were ready again with
      the proceeds from the Electric plant sale. Watch for

      Earnings are still the pitts. Have to see what kinda rate
      case decision they get!

      Good Luck!

    • usually you will see large block trades when the
      market is doing bad. Traditionally Utilities do very
      well when Wall Street doesn't. Also, large block
      trades happen, especially at PG&E when the stock's value
      declines a bit, such as now, (institutional investors
      bailing out). It will jump back up to the 32s pretty
      quick. One thing this company is, like its stock, very
      predictable. Just happen to work for them...

      • 1 Reply to goinglong2
      • Item No. 4
        Appoint Independent Directors to
        all Key Board Committees
        This shareholder
        resolution will be voted at the April 21, 1999 PG&E annual
        shareholder meeting. It is submitted and recommended by John
        Chevedden, Redondo Beach, California.
        It is also
        recommended that you vote Yes on:
        #5 for Simple Majority
        #7 for Cumulative Voting

        RESOLVED: Appoint
        Independent Directors for all Key Board Committees to enhance
        management oversight. Key board committees
        � Compensation
        � Nomination &
        � Audit Committees

        These important oversight-committees require heightened
        independence, free of Directors with significant money and
        management ties to PG&E.
        The 1998 PG&E proxy statement
        listed the following Directors who had profited directly
        or indirectly from their financial and management
        ties to PG&E in 1997:

        1) Dr. David
        Lawrence CEO of Kaiser Health Plan
        � PG&E paid
        $23-Million to Kaiser --up 11% from $21 million in

        2) David Coulter CEO of BankAmerica Corp. (until fired
        Oct. 1998)
        � PG&E paid $2.5 million to Bank of
        America (to manage $100s-of- millions of credit,
        banking and loan services) -- up 300% from $.6 million
        in 1996.

        3) Lee Cox Vice Chairman of
        AirTouch Communications
        � PG&E paid $1.5 Million to
        AirTouch -- up 36% from $1.1 million in

        4) Rebecca Morgan CEO of JVSV Network
        � PG&E paid
        $100,000 to JVSV.

        5) Richard Clark

        Former PG&E CEO -- tends to protect entrenched policies.

        During its policy of paying $10s-of millions to the
        employers of PG&E directors, PG&E has substantially
        under-performed the S&P 500 and the Dow Jones Utilities Index in
        the most recent 5-year period. The graph on page
        shows the PG&E under-performance. Additionally, the 39%
        dividend cut of 2-1/2 years ago has not been
        A director whose employer has an annual contract of
        $23 million with PG&E helps determine the pay for the
        PG&E CEO. This is a clear conflict of interest and
        divided loyalty. It sends a message to PG&E1s 20,000
        employees that divided loyalty is good for the board and,
        by example, good for 20,000
        Additionally, the need for greater oversight is clear with the
        perils and opportunities from utility deregulation. PG&E
        said it will be severely handicapped under
        deregulation without a $28 billion customer utility tax.

        PG&E sent California shareholders a report that said
        California would need to raise income taxes by 38% and sales
        taxes by 45% (using certain assumptions) unless the $28
        billion customer utility tax was upheld.
        Under the
        watered-down PG&E definition of independence, a compensation
        committee stacked with directors whose employers each have
        $23 million in annual contracts with PG&E, could
        "ensure independent oversight of management."

        Institutional Shareholder services (, a leading
        proxy analysis firm for institutional shareholders,
        said a fundamental tenet of corporate governance is a
        board that is independent and therefore capable of
        objective oversight of top management.
        ISS supported
        this resolution in 1998 and also the resolutions to
        "Reinstate Simple Majority Vote" and for "Cumulative
        Voting." These resolutions are again presented for
        shareholder approval in this proxy statement as Items 5 and

        Appoint Independent Directors to all Key
        Board Committees
        Vote YES on 4

    • Got a question. I'm a PECO customer in Philly
      with questions about deregulation. Got information
      about the 80 some service provider options, and want to
      know "what's the difference". Are they all competing
      for lowest price? If I go with Columbia Energy,
      what's to say they will still be my lowest option a
      month from now? Or would Green Mountain Power. Is there
      a group that I can join that will do this research
      and work for me, so that I'm not always looking for
      the cheapest provider .. but they are. Or, am I just
      supposed to throw darts and hope one sticks. Any
      advice/insight would be GREATLY appreciated

    • look at my answer in # 229. They are selling plants again.

    • PCG is too high for a market that is retreating
      to 9000 in next few weeks best to short it or get
      out completely
      Also, recently I joined a new
      Internet service called It's FREE. You
      should definitely consider becoming a is the Internet company that pays its members
      while they surf the Web ($.50 an hour). It's free to
      join and it takes about a minute (no survey to fill

      Members are paid for their own Web browsing and for
      referrals. Please tell as many of your friends about this
      program as possible.

      Be sure to enter my ID#
      (ALW-643) when you join. Remember, it's easy to sign up and
      it will never cost you a dime!

      Just go to

    • You were just on the PPW msg board advising them
      the same, to short the stock. Aren't there any of
      these cheap west coast utilities that you like. This is
      the only place to be in a stock market over 9000. A
      secure essential service paying a good dividend will
      keep me nice and warm when the internet stocks take a
      dive. If you want to short something, why not AOL or that ilk.
      Why would you advise dumping an
      elec/or gas utility such as PPW AVA, EIX, or PCG? I don't
      get it.

    • If the market drops to 9000, (which it won't)
      PG&E stocks will rocket upward, as they always do when
      other sectors are falling. If you know anything about
      utility stocks you would know this. utilities have always
      done well when the market crashes or is struggling.
      Selling at 31 is dumb, wait for 32+ it closed there last
      friday, and will be there again soon...

    • hey newtoboard,

      I'm not sure what specific
      conditions exist in your area as fart as dereg goes however,
      it would be wise not to get yourself locked in to
      any contracts at this point. You may get it cheaper
      for the short term but your major utilities will be
      able to compete with the smaller ESPs energy service
      providers very soon. And also, maybe people don't know
      this, two things, ESPs are popping up all over the
      place telling people about all these energy savings
      they can give them 30-40% in some cases. NO way! YOu
      are only buying the generation portion of your energy
      from these suppliers, not the distribution of it,
      maintenance, transition costs and so on. It is a very small
      portion... To answer your question, a month from now there
      may be hundreds of additonal options and if your
      locked in to a contract you are SOL.


    • PG&E BOARD GIVES zzzzzzz's to

      PG&E has provided no evidence that it has seriously
      considered the PG&E shareholder 55% majority vote � 4 months
      after the annual shareholder meeting. Shareholders
      voted 55% to restore Simple Majority Vote.

      is important to note that PG&E institutional
      shareholders voted to restore Simple Majority Vote. PG&E is
      53%-owned by institutions.

      Many institutions vote
      against directors who do not take action on majority
      shareholder votes.

    • Go Irish.

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52.73-0.04(-0.08%)Nov 30 4:03 PMEST