Rob Black’s Winners & Losers: PG&E may raise rates

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On today’s edition of Rob Black’s Winners and Losers, financial expert Rob Black talks with KRON4’s James Fletcher about PG&E, Fortnite, and a failed Senate Bill. 

Rob also answers the viewer question, “Are retirement funds exempt from creditors, including the IRS?”

Senate bill fails: The Senate will vote Thursday on two different plans to reopen the government, but both are expected to fail. One reflects President Trump’s offer to fund the government, the other would temporarily reopen operations without money for the president’s proposed border wall. It is unclear what plan could get enough support from Republicans and Democrats to fund the government. Wilbur Ross, Trump’s millionaire Commerce Secretary, says he doesn’t understand why federal workers are going to food banks during government shutdown.

PG&E may raise rates: PG&E says in a court filing that it could not afford to inspect its power grid and clear trees, estimating that the work could cost up to $150 billion. “The work that would be required is so labor-intensive and costly that compliance is technically and operationally infeasible,” PG&E said in the court filing. The company also said if the court proceeds with the judge’s plan, the utility would have to dramatically increase the rates it charges customers. 

‘Fortnite’ cashes in:  ‘Fortnite’ and other free games raked in more than $87 billion last year, and the rest of the gaming industry is starting to take note. Free-to-play video games generated $87.7 billion in revenue during 2018. Asian players account for 62% of spending on free games, and seven of the top 10 grossing free-to-play games belong to Asian publishers. Games played on smartphones account for an increasing majority of play time, and free games still rule mobile app stores. 

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