Management, LLC Urges PG&E Shareholders to Replace Board before they kill more constituents
The Dubious Phone Call and Time Wasting Project
Pete Bennett former contract programmer retained by PG&E Sub Contractor Ravenel Enterprises from just outside Atlanta not far from the Alston Bird who like PG&E failed to pay as agreed.My story is about witness murders, private equity, mergers and acquisitions linked back to the Matter of Bennett v. Southern Pacific lost in 1989. It was a winnable case as long the witnesses testified.
Management, LLC Urges PG&E Shareholders to Replace Board
Plans to Announce New Slate of Board Members by No Later Than February
21
Board Election to Be Held at Annual Shareholder Meeting (NYSE: PCG)
Board has "failed" the Company, shareholders, customers, employees &
the people of California
"There is no imminent financial crisis - there is a leadership crisis."
"It is time for shareholders to step up."
2018GXA010
NEW YORK,
Jan. 24, 2019 /PRNewswire/
-- BlueMountain Capital Management, LLC ("BlueMountain"), a
private diversified alternative asset management firm, today
issued an open letter to Shareholders of PG&E Corporation saying
it plans to announce a "New Slate" of Board Members by no later than
February 21. The Board Election will
be held at the Annual Shareholder Meeting, slated for May 21.
"The Current Board has not only failed the Company and its shareholders; it has failed its customers; it has failed its employees; and, it has failed the people of California," reads the letter. "The Company has lost the public's trust, and it has severely damaged its relationship with regulators and elected officials."
"A publicly regulated utility needs a strong working partnership with the public sector. In order to rebuild essential relationships and restore trust, the Company needs an entirely new board," the letter continues. "We expect the New Slate would insist the Company work collaboratively with the state of California and its citizens to transform the Company."
"The Current Board has chosen to do just the opposite. As you are undoubtedly aware, the Current Board announced their intention to file a voluntary, costly, and unnecessary bankruptcy, which, in our view, violates their fiduciary duties to the Company and to you."
"We plan to nominate a New Slate that will provide appropriate oversight and ensure the Company has a strong and experienced management team, a strategy to address its challenges, and an effective implementation plan," the letter says.
The full text of the letter can be viewed on BlueMountain's website here: https://www.bluemountaincapital.com/what-is-new/
About BlueMountain Capital Management, LLC BlueMountain Capital Management, LLC ("BlueMountain") is a diversified alternative asset management firm managing approximately $19 billion of assets. BlueMountain's diverse team of professionals in New York and London is supported by the firm's institutionalized and proprietary infrastructure, including specialized operations and risk management technology. For more information about BlueMountain, please visit: www.bluemountaincapital.com
Media Contact:Tom Vogel
Dukas Linden Public Relations
(646) 808-3663
BMCM@dlpr.com
PG&E Stakeholder Contact:pcg@bluemountaincapital.com
SOURCE BlueMountain Capital Management, LLC
"The Current Board has not only failed the Company and its shareholders; it has failed its customers; it has failed its employees; and, it has failed the people of California," reads the letter. "The Company has lost the public's trust, and it has severely damaged its relationship with regulators and elected officials."
"A publicly regulated utility needs a strong working partnership with the public sector. In order to rebuild essential relationships and restore trust, the Company needs an entirely new board," the letter continues. "We expect the New Slate would insist the Company work collaboratively with the state of California and its citizens to transform the Company."
"The Current Board has chosen to do just the opposite. As you are undoubtedly aware, the Current Board announced their intention to file a voluntary, costly, and unnecessary bankruptcy, which, in our view, violates their fiduciary duties to the Company and to you."
"We plan to nominate a New Slate that will provide appropriate oversight and ensure the Company has a strong and experienced management team, a strategy to address its challenges, and an effective implementation plan," the letter says.
The full text of the letter can be viewed on BlueMountain's website here: https://www.bluemountaincapital.com/what-is-new/
About BlueMountain Capital Management, LLC BlueMountain Capital Management, LLC ("BlueMountain") is a diversified alternative asset management firm managing approximately $19 billion of assets. BlueMountain's diverse team of professionals in New York and London is supported by the firm's institutionalized and proprietary infrastructure, including specialized operations and risk management technology. For more information about BlueMountain, please visit: www.bluemountaincapital.com
Media Contact:Tom Vogel
Dukas Linden Public Relations
(646) 808-3663
BMCM@dlpr.com
PG&E Stakeholder Contact:pcg@bluemountaincapital.com
SOURCE BlueMountain Capital Management, LLC
Related Links
http://www.bluemountaincapital.comConnecting TPG Growth, Operation Varsity Blues, Honest Services Fraud, Mail and Wire Fraud to TPG Newbridge, Senator Feinstein and Bennett v. Southern Pacific to the murders of Alicia Driscoll, her daughter, her cousins the 1968 Walker Family Murders to the murders of Los Lomas Students here and in Balad Iraq.
TPG Natural Resources & Energy
TPG invests in energy and natural resource companies across
the energy value chain. Our areas of focus within the sector
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including refineries and marketing. Our investments in this
sector span the globe and have included Alinta Energy, Axip
Energy Services, EnLink Midstream, Copano Energy, Jonah
Energy, MI Energy, and Northern Tier Energy. We have
substantial experience acquiring energy assets from large
public corporations such as Encana Corporation and Marathon
Oil Corporation. As we partner with companies, we
leverage TPG’s global network and investment expertise to work
with leadership teams focused on long-term value creation.
