Friday, May 22, 2015

Friday Must Reads: Grand Jury Probes PG&E’s Cozy Relationship with State; Alameda County Median Home Price Nears $700K

By Robert Gammon
Fri, May 22, 2015 at 9:56 AM

Stories you shouldn’t miss:

1. A federal grand jury has opened a criminal probe into the cozy relationship between PG&E and the state agency that was supposed to regulate it — the California Public Utilities Commission (CPUC), the Chron$ reports. As part of the probe, investigators served search warrants on the homes of former CPUC chair Michael Peevey and ex-PG&E executive Brian Cherry. Previously disclosed emails revealed that Peevey had secretly colluded with Cherry to help PG&E avoid punishment for its pipeline safety negligence.

click to enlarge home_for_sale_sign.jpg
2. The Bay Area housing market remains red hot, as the median home price in Alameda County reached $690,000 last month, the Mercury News$ reports. The median price in Contra Costa County rose to $490,000.

3. Tax proceeds from the sale of real estate have boosted Oakland’s finances. The Trib$ reports that the city is projecting a budget surplus of about $5 million by June 30.


4. And the Richmond City Council voted 6-1 to oppose the transport of coal through the city, the CoCo Times$ reports. Coal dust emitted from rail cars poses a serious health hazard.

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