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Opening Bell 11.16.18

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

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


(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.



Opening Bell: 11.13.18

Booze sale; 1MDB getting gnarly; Moody's starting to rate hackabilitiy; and more!