California Wildfires Set for $25 Billion In Damages, Death Toll Rises, Looters Arrested

PG&E and Edison International stock prices are crashing as analysts warn that the potential wildfire costs could soar.
Goldman Sachs analyst Michael Lapides expects incremental investor concern for PG&E and Edison as the fires continue to grow, pointing out that California’s wildfire legislation that passed in late August (SB901) doesn’t contain provisions regarding wildfire recovery for potential 2018 fires.

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