Jan 16, 2019

PG&E could join Enron, Lehman Brothers in debt infamy

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Data: New Generation Research, hand-collected court data from mid-1980s. PG&E's assets as of September quarterly filing; Note: All assets in 2018 dollars Chart: Naema Ahmed/Axios Visuals

If PG&E follows through on plans to file for bankruptcy before the end of the month, it will be the biggest utility bankruptcy since 2001...which was the first time PG&E filed for bankruptcy.

By the numbers: PG&E's planned filing would be the ninth largest bankruptcy since at least the mid-1980s — falling just below the likes of Lehman Brothers, WorldCom and General Motors.

  • Bonus stat: It's incredibly rare that companies default within one year of holding an investment grade credit rating, Bank of America-Merrill Lynch notes.
  • If PG&E does file for bankruptcy, they will become a part of a super exclusive "Failing Angels" club — companies that fall from investment grade, skip the high yield or junk market and go straight to default.
  • The other members of the "Failing Angels" club: Enron, Lehman and MF Global.

Go deeper: Where Toys "R" Us ranks among retail bankruptcies

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Investors are putting big money in small rocket companies

Data: Space Angels; Chart: Axios Visuals

Since 2009, more than $3 billion has been invested in companies building rockets to deliver small satellites to space, according to data provided to Axios by Space Angels.

The big picture: At the moment, most small satellites are delivered to orbit by hitching rides on larger rockets carrying other, bigger payloads as their primary missions.

Go deeperArrowDec 20, 2019

GM to bring Hummer back as an electric vehicle

A discontinued Hummer pickup truck. GM has yet to debut revivied electric vehicle's new look. Photo: Scott Olson/Getty Images

General Motors plans to reintroduce the Hummer to consumers as an electric pickup truck under the GMC brand, unnamed sources familiar with the matter tell the Wall Street Journal.

The big picture: The revival is a part of automakers' race to introduce more electric trucks and SUVs to the market. Tesla unveiled its version of an electric pickup dubbed the Cybertruck in November, expected to arrive by late 2021.

Go deeperArrowJan 10, 2020

The decade's biggest unexpected boom

Shale dominated the 2010s, even more than the iPhone or cloud computing. That's the claim made by blogger and investment adviser Josh Brown, who sees the U.S. shale boom causing a collapse in energy prices that had enormous economic and geopolitical consequences.

By the numbers: The U.S. currently produces roughly 12.7 million barrels of oil per day. That's an all-time high, and is more than double the 6.1 million expected 1o years ago.

Go deeperArrowJan 2, 2020