Opening Bell 11.16.18

PG&Eek; Apple v Facebook; DJ D-Sol working on an emo track; and more!
Author:
Updated:
Original:

Welcome to the new Opening Bell from The Water Coolest. We think you're gonna like it here ...

b30108aa-a54f-11e8-8e48-aa42afc7ae42

(For those of you wondering WTF The Water Coolest is, and what it's intentions are with the Opening Bell ... don't worry we've made you a new friend.)

Ashes to ashes, dust to dust [The Water Coolest]

Things haven't been this dark at PG&E since Jeff Skilling was a BSD and Enron traders were saying things like this to managers of power plants: "Ah, we want you guys to get a little creative, and come up with a reason to go down." It's worth noting that Pacific Gas and Electric declared bankruptcy in 2001, due largely to Enron's practices.

But now the utility provider is facing a different force of nature: wildfires which have already claimed the lives of 60 Californians. Shares of PG&E have fallen more than 60% in just six days over concerns about unprecedented damage to the provider's grid.

‘Unprecedented’ PG&E Uncertainty Spurs Morgan Stanley Downgrade [Bloomberg]

Celebrity death match [The Water Coolest]

Biggie vs. Tupac. Jobs vs. Gates. And now, Cook vs. Zuck. The CEO of Apple and totally-not-a-lizard-person, Mark Zuckerberg are trading jabs. The controversy? Zuck allegedly making Facebook execs use Android devices over Apple which was a response to Cook's comments that "Privacy to us is a human right. It's a civil liberty" (a response to Facebook's privacy issues). Shots fired.

Facebook confirmed Mark Zuckerberg's beef with Apple CEO Tim Cook in an official company statement [Business Insider]

I'm not mad, I'm disappointed [The Water Coolest]

Not up in here! Right on cue, DJ D-Sol says he's personally outraged by the 1MDB scandal in a voicemail delivered to all GS employees. Still, shares are reeling, with Goldman Sach's down for the fifth straight session.

Goldman’s CEO Says He’s ‘Personally Outraged’ by 1MDB Scandal [Bloomberg]

What else is happening today?

  • Bernie Sanders and Ro Khanna from California are introducing The Stop WALMART Act, aimed at blocking big employers from buying back stock unless they pay all employees $15 per hour.
  • In its quest to become the Uber of space flight, Rocket Labs has raised another $140M. The 'little rocket company that could' has now raised $288M and was last valued at $1.2B.

Related