CEO kills 8 people, destroys 38 homes, and is awarded $35 million

[Rage for Order]

I'm sure PG&E would balk at paying out $1 million for each home destroyed, which would be $38 million, but they have no problem rewarding failure and manslaughter with a $35 million golden parachute. What a disgrace.

http://news.yahoo.com/s/ap/20110422/ap_on_re_us/us_pipeline_explosion;

Pacific Gas & Electric Corp.'s top executive is stepping down with a $35 million retirement package following a "challenging year" that included a gas pipeline explosion in a San Francisco suburb that killed eight and destroyed 38 homes, the company announced Thursday. Chairman, chief executive and President Peter Darbee will retire on April 30, PG&E said in a statement.

Darbee spent the first half of his career in the financial services industry before joining PG&E more than a decade ago, and now plans to devote himself to nonprofit work, said Brian Hertzog, a spokesman for the parent company's utility division, PG&E Co. Darbee, 58, will leave with a $35 million retirement package, but the value of the executive's stock holdings could fluctuate depending on future market circumstances, he added.

"Going forward, we have to regain the confidence that in some cases we've lost over the past year from some of our customers, regulators and others," Hertzog said. "Mr. Darbee thinks new leadership is the best way to do that."

The September blast on a 44-year-old transmission line in San Bruno ignited a fire that raged for an hour and 40 minutes and sent dozens of people to the hospital for burn treatment. The National Transportation Safety Board has yet to determine a cause, but said in its initial investigation findings that the initial blaze would have burned out much sooner had automatic shut-off valves been in place.



More at the link

If you are currently served by PG&E and you have the option of switching electricity or gas providers please consider doing so, and tell them why you are leaving.

[Initech]

1. This uncontrollable lust for profit is becoming a quick-destructing virus.

[Mnemosyne]

2. Darbee could not sleep at night,

if he had a conscience.

[Rage for Order]

3. He probably needs all the money for therapy

I'm sure he's overcome by guilt

:sarcasm:

[Mnemosyne]

5. I wish they knew they need intense therapy.

That will happen... :sarcasm:

[lonestarnot]

4. It would seem that homeowners who lost homes should be able to do something to seize that dough.

[Taverner]

6. Let's just say if I saw him dying in a car accident, I wouldn't call 911

[proud patriot]

7. grrrrrrrrrrrrrrrr