People's Gas and Electric

San Francisco--Medea Benjamin, co-founder of Global Exchange led protestors in a rally at 16th and Mission today. She said that, "Governor Davis spends more time doing the dirty work of the energy corporations than working for the people of California (of course the utilities do pay him more). The bailout is now disguised as the $7 billion purchase of the transmission system which has a book value of only $3.8 billion. We should pay less than book value; these utilities say they're near bankruptcy (though their parent corporations are fat with assets they bought with our last bailout)." (February 24, 2001)