Pacific Gas & Electric

USA Discussion in 'General Accountancy Discussion' started by bklynboy, Jan 17, 2019.

  1. bklynboy

    bklynboy VIP Member

    Oct 12, 2011
    Likes Received:
    Anyone else work for a company or have clients holding PG&E bonds? At my company I am getting a bit of heat to not take an impairment despite them planning to go bankrupt, missing interest payments and potential liabilities from wildfires among other issues. Curious what others may think ....does anyone believe investors can recover the cost based on facts as they exist today?
    bklynboy, Jan 17, 2019
    1. Advertisements

  2. bklynboy

    kirby VIP Member

    May 12, 2011
    Likes Received:
    I've often said that a required text for an accounting curriculum should be "The Emperor's New Clothes" by Hans Christian Anderson. The application here is that management "sees" the future recovery of the bond value when there is a snowball's chance that the value will come back. Then management insists that others must see what they see, else the nonbeliever is not "on the team."
    kirby, Jan 19, 2019
    1. Advertisements

Ask a Question

Want to reply to this thread or ask your own question?

You'll need to choose a username for the site, which only take a couple of moments (here). After that, you can post your question and our members will help you out.