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BUSINESS
April 7, 2001 | From Reuters
For most of its 96 years as one of California's largest corporations, Pacific Gas & Electric Co. has tapped lifetime employees to fill key positions and, for the select few, the chief executive's office. Robert Glynn is one of the few "outsiders" to ascend to the top job in the company that traces its roots back to Gold Rush days. On Friday, the giant San Francisco-based utility made the blockbuster announcement that it is seeking protection in Bankruptcy Court. Glynn, 57, a native of Orange, N.
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BUSINESS
April 7, 2001 | From Reuters
For most of its 96 years as one of California's largest corporations, Pacific Gas & Electric Co. has tapped lifetime employees to fill key positions and, for the select few, the chief executive's office. Robert Glynn is one of the few "outsiders" to ascend to the top job in the company that traces its roots back to Gold Rush days. On Friday, the giant San Francisco-based utility made the blockbuster announcement that it is seeking protection in Bankruptcy Court. Glynn, 57, a native of Orange, N.
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BUSINESS
March 22, 2003 | From Bloomberg News
PG&E Corp., a California utility owner that had a $2.19-billion loss in the fourth quarter and faces default by a power plant unit, raised the compensation of Chief Executive Robert Glynn by 22% last year, excluding stock options. PG&E paid Glynn $7.4 million in cash and other compensation, according to a filing with the Securities and Exchange Commission. Shares of PG&E fell 28% last year as PG&E's utility sought to reorganize in Bankruptcy Court.
BUSINESS
January 6, 1998
Robert Glynn Jr., chief executive and president of San Francisco-based PG&E Corp., has assumed the additional responsibility of chairman, replacing Stanley Skinner, who is retiring. . . . Wal-Mart Stores Inc. picked Emery Worldwide, a unit of Palo Alto-based CNF Transportation Inc., as its primary U.S. air carrier for shipments of 50 pounds or more. . . . Los Angeles-based Northrop Grumman Corp. said it won a contract valued at $145 million from closely held Kistler Aerospace Corp.
BUSINESS
November 15, 2002 | Nancy Rivera Brooks
PG&E Corp.'s troubled National Energy Group subsidiary failed to make a $431-million debt payment Thursday and Standard & Poor's cut the unit's credit rating to D, its lowest rating. NEG is San Francisco-based PG&E's unregulated arm, which builds and operates power plants and trades energy. That segment of the energy industry has been slammed by the collapse of Enron Corp., low power prices and tight credit. PG&E Chief Executive Robert D. Glynn Jr.
NEWS
April 7, 2001
1905: PG&E is incorporated. 1905-30: PG&E embarks on program to develop hydroelectric power in California, making it one of the state's biggest landowners and one of the nation's biggest hydropower producers, operating dams throughout the Sierra Nevada. 1928: PG&E makes its first natural gas discovery in California. 1985-86: Opens Diablo Canyon nuclear facility on the Central Coast after years of protests over the site's location near an earthquake fault line.
BUSINESS
March 7, 2002 | NIGEL HUNT, REUTERS
PG&E Corp., parent of California's largest utility, Wednesday defended its decision to include gains from the gap between power costs and higher retail rates for the first time in forecasting earnings, and declined to specify how much of that windfall was built into its guidance.
BUSINESS
November 13, 2003 | From Associated Press
The parent of Pacific Gas & Electric said Wednesday that its third-quarter net income improved, although the utility's operating performance declined. PG&E Corp.'s net income rose 9% to $510 million, or $1.24 a share, from $466 million, or $1.19, a year earlier. Revenue increased 5% to $3.1 billion from $2.9 billion. The third-quarter profit included $495 million of "headroom" -- a regulatory term used to describe the cash cushion between the utility's power generation revenue and costs.
BUSINESS
June 3, 1994
Pacific Gas & Electric Co. said Thursday that Stanley Skinner, the company's president and chief operating officer, will succeed Richard Clarke as chief executive on July 1. Clarke, 64, will remain chairman of the utility until June 1, 1995, when PG&E bylaws mandate his retirement. He may remain on the board as a director until age 70. The company also announced that Robert Glynn Jr.
NEWS
February 10, 2001 | NICHOLAS RICCARDI, TIMES STAFF WRITER
Gov. Gray Davis said Friday that in seven days he hopes to finish the framework for a rescue plan to enable the state's two largest private utilities to avoid bankruptcy. Davis had said a rescue plan needed to be in place by Monday, when a federal judge in Los Angeles will consider Southern California Edison's request to lift 4-year-old rate caps that are keeping it from passing on its multibillion-dollar debt to ratepayers.
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