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On March 27, Southern California Edison and San Diego Gas & Electric struck a proposed deal that ratepayers have denounced, because, if the deal is approved by the full California Public Utilities Commission, ratepayers will pick up $3.3 billion of replacement costs following the shutdown of the San Onofre nuclear plant. Consumer advocates argued that shareholders should pick up all those costs.

Wall Street rejoiced. The day before the announcement, stock of Edison International, parent of Southern California Edison, closed at $53.46. Four days later, it was up to $56.61. According to Securities and Exchange Commission documents, Edison International chairman Ted Craver on March 31 dumped 172,644 shares of stock at $56 each for a profit of $9.7 million. Chief financial officer James Scilacci jettisoned 143,438 shares, pocketing a bit below $8 million. According to SCPR.org, the company refused to comment.

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Anon92107 April 4, 2014 @ 12:49 p.m.

Don, SCE and CPUC are both guilty of gross criminal negligence at SONGS that threatened peoples lives and they are now threatening the Southern California economy.

If Brown doesn't act to protect the public I'm not going to vote for him ever again.

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Don Bauder April 4, 2014 @ 1:50 p.m.

Anon92107: If Gov. Brown hasn't replaced CPUC head Peevey by now, he probably won't. Best, Don Bauder

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Anon92107 April 4, 2014 @ 2:49 p.m.

Don, with republicans overthrowing American Democracy while democrats watch and do nothing, our experiment has failed completely.

Future generations, as long as Global Warming allows them to live, shall most certainly consider us to have gone from The Greatest Generation during WWII to The Most Self-Destructive Generation in History.

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CaptD April 4, 2014 @ 4:06 p.m.

Anon92107 I agree and for the most part it is the people that remember the 50's and/or 60's that are speaking out about it since most of the youngsters are too busy to make waves...

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Don Bauder April 5, 2014 @ 8:31 a.m.

CaptD: Yes, the young rose up against an unwise war, Vietnam, and for civil rights. Where are they now? Best, Don Bauder

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danfogel April 5, 2014 @ 9:25 a.m.

captd/founder, They are not too busy making waves. They are too busy making their millions and billions.

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Don Bauder April 5, 2014 @ 1:31 p.m.

danfogel: While some are making millions and a few billions, many are struggling to pay off their college debts. Best, Don Bauder

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Visduh April 4, 2014 @ 8:33 p.m.

Anon, your GOP bashing gets tiresome and pointless. Many of the screwings we have had in the state and the nation were bipartisan, when the parties were "working together to solve problems." If anyone were paying attention, they would have remembered the bungling of "Moonbeam" Brown's first attempt to play governor, 1974-82. And it is inconceivable to me that they would have wanted to give him another round in the same chair. But they did. This mess at the CPUC could be stopped by him in a few days, and he could have done it, what, two or three years ago, maybe more. That it persists tells you and everyone who wanted him back as governor just what you voted for. I'll go Don one better and say he DEFINITELY won't replace Peavey.

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Anon92107 April 5, 2014 @ 3:42 a.m.

CaptD and Visduh thank you for your most appropriate comments, California is going from the Golden State to the Drowning in a Sea of Corruption State.

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Don Bauder April 5, 2014 @ 8:36 a.m.

Anon92107: Yes, you are right, but corruption has been in evidence in California for many, many decades. Best, Don Bauder

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danfogel April 5, 2014 @ 9:42 a.m.

Don Bauder, My wife and I moved to San Diego in June of 1976, a few days after she graduated from HS. My observations from viewing from afar for a few yrs and since moving back from the Seattle area last year, is that the level of corruption is not that much greater, relative to the overall growth of and in California in the last 4 decades, of course. Instead it is the boldness. It seems in many cases that there is only token effort to cover it up, as if many of those perpetrators believe they can't be touched and aside from what seems to have been a few token cases and any otherwise lack of meaningful prosecutions, apparently they are right.

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Don Bauder April 5, 2014 @ 1:36 p.m.

danfogel: San Diego is quite corrupt. You don't read that much about it because most of the media are in the crooks' pockets. The downtown corporate welfare crowd -- where so much of the corruption lies -- has much of the media eating out of its hands. Best, Don Bauder

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Don Bauder April 5, 2014 @ 8:34 a.m.

Visduh: Peevey pretends to be a Democrat and liberal but his real sympathies lie where he made his bundle of money: Southern California Edison, where he made his pile of money. Best, Don Bauder

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danfogel April 5, 2014 @ 9:21 a.m.

Visduh, I pretty much agree with your assessment, though I'm not quite sure about your "a few days" reference. I assume that you are referring to the appointments he made to the CPUC after he took office, but if that's incorrect, please elaborate. Unlike some others here, based on their past histories and performance, I had little hope that they would behave any differently than their predecessors. Especially disappointing is Peterman; I guess being a Rhodes Scholar doesn't necessarily denote the use of common sense. As for Peavy, I believe his term is up in January and like you I expect him to remain in place.

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Don Bauder April 5, 2014 @ 1:38 p.m.

danfogel: I, too, expected more from the Brown appointees (other than Peevey whom I never expected anything of). And I, too, have been disappointed. Best, Don Bauder

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Don Bauder April 5, 2014 @ 8:29 a.m.

Anon92107: Most destructive generation in history? How about Nazi Germany? Best, Don Bauder

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Anon92107 April 5, 2014 @ 11:39 a.m.

Don, that's one of the reasons that The Greatest Generation was so Great, they destroyed the Nazis. Tragically we are still having holocausts, the Jewish people are still right about it can happen again because it never stops and even the United Nations has failed to end them. Hate is wired into too many people's brains around the world and psychologists can't figure out how the human race can overcome that emotion, it is one of the seeds of our self-destruction.

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Don Bauder April 5, 2014 @ 1:40 p.m.

Anon92107: Hate and rancor are defiinitely wired into the human brain. 'Twas ever thus. We evolved from violent creatures who survived by killing others. We haven't changed that much. The law of the jungle still rules us. Best, Don Bauder

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CaptD April 4, 2014 @ 3:59 p.m.

Don the FIX IS IN and I bet the two above mentioned men are both high five-ing each other while giving all of us SoCal ratepayers their fickle finger.

The CPUC now faces a huge backlash of public anger since they are choosing to reward SCE and SDG&E with at least several BILLION DOLLARS that ratepayers have shelled out because they trusted both their Utilities and the CPUC to protect them!

The San Onofre Debacle is far more costly than the PG&E Pipeline Blast, yet the Federal Prosecutors are just (so far) looking the other way, even though San Onofre was a nuclear near miss accident that could have resulted in a Fukushima-Type meltdown.

http://www.forbes.com/sites/kensilverstein/2014/04/03/california-utility-criminally-indicted-in-pipeline-blast-but-not-any-individuals/

This story highlights the BIG difference between humans and Corporations!

It also points out why the recent decisions by the SCOTUS have failed the people of the USA and explains why the public no longer trusts the US legal system!

Because a Corp.’s cannot be put in jail, there is little to no reason that Big Corp.’s need to fear prosecution, since they not only have armies of well paid lawyers and the political connections that reach right up to the highest Office in the land. Should all that fail to protect them, as in this case, the Corp.’s can just threaten to go out of business, (which also puts all their employees at risk of losing their jobs) and escape further prosecution, which then allows them to simply change their Corp.’s name and start all over again!

In simpler terms, when it comes to Big Corp.’s the FIX is in, they know it and they run their businesses to maximize profits instead of making society safer, because they know they can get away with it!

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Anon92107 April 5, 2014 @ 3:54 a.m.

CaptD, very well summarized.

I guess the only good news is that even though SCE and the CPUC committed gross criminal negligence with SONGS, at least they stopped short of another Three Mile Island and Fukushima, but they are about to bankrupt California because of the Power of Money Plutocracy/Oligarchy that has now taken over American Democracy. And we haven't been murdered by PG&E yet.

Getting much harder to find good news anymore after a week that began with the latest IPCC report, followed by the SCOTUS overthrow of American Democracy, and the CPUC/Brown betrayals continue.

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Don Bauder April 5, 2014 @ 8:42 a.m.

Anon92107: PG&E is getting away with murder over its negligence in the San Bruno explosion. Peevey and he CPUC have been supporting PG&E. Best, Don Bauder

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ImJustABill April 5, 2014 @ 5:15 a.m.

That's a really good point. If corporations are people too, then can we put them in jail? Well, no - as you stated.

Ideally, laws should hold senior executives accountable for the wrongdoing of a corporation - but that really hasn't happened. Maybe there was some small shift in that direction with the Sarbannes-Oxley legislation but clearly it wasn't enough, or there would be a lot of GS and AIG executives rotting away in prison right now.

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Don Bauder April 5, 2014 @ 8:44 a.m.

ImJustABill: Yes, but Sarbanes-Oxley has been watered down, as have Dodd-Frank bank reforms following the 2007-2009 crash, when corrupt banks almost took us over the cliff into the abyss. Best, Don Bauder

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MURPHYJUNK April 5, 2014 @ 1:30 p.m.

start publishing the names, addresses and pictures of executives and see how fast they tow the line.

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Don Bauder April 5, 2014 @ 1:47 p.m.

Murphyjunk: Don't count on them catering to any constituency except the shareholders -- and particularly the inside shareholders. Best, Don Bauder

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Don Bauder April 5, 2014 @ 8:38 a.m.

CaptD: I say that if the Supreme Court rules that corporations are people, let's start putting some of those corporations -- or at least their top executives -- in prison. And put the worst of them to death. Best, Don Bauder

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Don Bauder April 5, 2014 @ 1:44 p.m.

CaptD: You won't find a single chief executive of a publicly-held company that believes he or she has any duty other than to make profits and try to make sure the stock goes up. Companies may advertise that they care about the environment and their communities, but they don't. Best, Don Bauder

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Don Bauder April 5, 2014 @ 9:29 p.m.

viewer: I can't answer your question. Best, Don Bauder

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Don Bauder April 6, 2014 @ 3:39 p.m.

viewer: Actually, everyone doesn't have too much in San Diego County. Incomes are modestly higher than the national average and the cost of living is extremely high. Best, Don Bauder

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Burwell April 6, 2014 @ 8:34 a.m.

Many of the things Viewer says makes a lot of sense, if you stop and think about it.

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Don Bauder April 6, 2014 @ 3:41 p.m.

viewer: government funds are often important. Best, Don Bauder

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Don Bauder April 7, 2014 @ 8:31 p.m.

viewer: Answer: it's politics. Best, Don Bauder

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Don Bauder April 7, 2014 @ 8:35 p.m.

EDISON QUESTIONS PROFIT FIGURES: Southern California Edison said today (April 7) that the Associated Press, which I quoted, miscalculated the profits the two executives raked in by dumping their shares. Edison says Craver's profit was $4.1 million and Scilacci's $4.3 million. Best, Don Bauder

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