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BUSINESS
July 14, 2001 | JERRY HIRSCH, TIMES STAFF WRITER
Southern California Edison is in a holding pattern between solvency and bankruptcy as the state Legislature on Friday began considering plans for rescuing the ailing utility. In a conference call with the holders of $931 million in defaulted SCE notes and bonds, a senior executive at Edison International, SCE's Rosemead-based corporate parent, said the utility's finances are no longer deteriorating. Chief Financial Officer Theodore Craver Jr.
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CALIFORNIA | LOCAL
September 24, 2001 | GEORGE SKELTON
Political guru Richie Ross advises legislators to run if they see any bill that looks like a utility bailout. Don't touch it even if the house leader begs or the governor berates. " 'Bailout' is a bad word," Ross says. "Voters don't feel they've been treated fairly by utilities. They figure utilities have brought it all on themselves. . . . 'Bailout' to the voters means 'we pay'--no matter how it's structured." Voters--if that means taxpayers--do not pay, really.
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NEWS
February 16, 2001 | DAN MORAIN and NANCY VOGEL, TIMES STAFF WRITERS
Gov. Gray Davis today will announce a rescue plan for the state's private utilities that would add an extra charge to monthly power bills and pay the companies billions of dollars in exchange for their massive high-voltage transmission system. The plan, designed to stabilize California's troubled electricity system, would give the financially hobbled companies two new sources of revenue as a means of restructuring their debt, which they estimate to be almost $13 billion.
BUSINESS
July 14, 2001 | JERRY HIRSCH, TIMES STAFF WRITER
Southern California Edison is in a holding pattern between solvency and bankruptcy as the state Legislature on Friday began considering plans for rescuing the ailing utility. In a conference call with the holders of $931 million in defaulted SCE notes and bonds, a senior executive at Edison International, SCE's Rosemead-based corporate parent, said the utility's finances are no longer deteriorating. Chief Financial Officer Theodore Craver Jr.
CALIFORNIA | LOCAL
September 24, 2001 | GEORGE SKELTON
Political guru Richie Ross advises legislators to run if they see any bill that looks like a utility bailout. Don't touch it even if the house leader begs or the governor berates. " 'Bailout' is a bad word," Ross says. "Voters don't feel they've been treated fairly by utilities. They figure utilities have brought it all on themselves. . . . 'Bailout' to the voters means 'we pay'--no matter how it's structured." Voters--if that means taxpayers--do not pay, really.
NEWS
February 16, 2001 | DAN MORAIN and NANCY VOGEL, TIMES STAFF WRITERS
Gov. Gray Davis today will announce a rescue plan for the state's private utilities that would add an extra charge to monthly power bills and pay the companies billions of dollars in exchange for their massive high-voltage transmission system. The plan, designed to stabilize California's troubled electricity system, would give the financially hobbled companies two new sources of revenue as a means of restructuring their debt, which they estimate to be almost $13 billion.
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