Betty White Forever: New stamp will honor the much-beloved 'Golden Girls' actorJohn Parker Romo made a 29-yard field goal to lift the Minnesota Vikings to a 30-27 overtime win against the host Chicago Bears on Sunday afternoon. Romo buried the game-winning kick in his third career game for Minnesota (9-2), which won its fourth game in a row. The score capped a 10-play, 68-yard drive for the Vikings after the Bears went three-and-out on the first overtime possession. Sam Darnold completed 22 of 34 passes for 330 yards and two touchdowns to lead the Vikings. Wideout Jordan Addison finished with eight catches for a career-high 162 yards and a touchdown. The overtime defeat spoiled an impressive performance from rookie quarterback Caleb Williams, who completed 32 of 47 passes for 340 yards and two touchdowns for Chicago (4-7). D.J. Moore had seven catches for 106 yards and a touchdown, and Keenan Allen finished with nine catches for 86 yards and a score. Chicago erased an 11-point deficit in the final 22 seconds of regulation to send the game to overtime. Romo had put Minnesota on top 27-16 when he made a 26-yard field goal with 1:56 remaining in the fourth quarter. Williams trimmed the Bears' deficit to 27-24 with 22 seconds to go. He rolled right and found Allen wide open in the end zone for a 1-yard touchdown, and moments later he fired a strike to Moore for a two-point conversion. The Bears recovered an onside kick on the next play to regain possession at their 43-yard line with 21 seconds left. Cairo Santos' onside kick bounced off the foot of Vikings tight end Johnny Mundt, and Tarvarius Moore recovered it. D.J. Moore put the Bears in field-goal position with a 27-yard reception across the middle of the field, and Santos made a 48-yarder as time expired to even the score at 27-all. Minnesota led 24-10 after three quarters. Romo made a 40-yard field goal early in the third quarter, and Aaron Jones punched in a 2-yard run with 1:22 left in the period to put the Vikings on top by two touchdowns. Addison and Jalen Nailor each had receiving touchdowns in the first half for Minnesota. Roschon Johnson scored on a 1-yard run for the Bears' only touchdown of the first half. Chicago trailed 14-10 at the break. --Field Level Media
In recent years, many Apple Watch users have reported a peculiar phenomenon – their smartwatches have the tendency to stick to glass surfaces. This phenomenon, known as the "Apple Watch Sticking to Glass" optical adhesive phenomenon, has generated curiosity and speculation among tech enthusiasts. In this article, we will delve into the reasons behind this intriguing occurrence and explore the science behind it.Georgian opposition leader detained by police and beaten unconscious, his party saysFrench government falls in historic no-confidence vote
Dakhliyah hosted a grand equestrian festival in Bahla on Friday to celebrate the 54th National Day and to pay tribute to His Majesty Sultan Haitham bin Tarik. The festivities commenced with a march flagged off at Jabreen Castle, passing through Saih al Shamikhat and culminating at the equestrian field. Over 1,000 participants representing various sports, social and adventure groups from across Oman proudly carried the national flag in a show of national pride and patriotism. The highlight of the event was an equestrian show, organised by Bahla Equestrian Society and supervised by Oman Equestrian and Racing Federation. More than 120 horsemen dazzled the audience with horseback stunts, tent pegging, archery and hurdle jumping. Adding to the cultural grandeur, folk troupes from Bahla performed traditional Omani Al Razha, a celebrated and enduring tradition. While Al Razha refers primarily to a sword dance, the performance incorporates elements of dance, drums, clapping and rowing. “Al Razha has become a beautiful combination of poetry, singing and swordplay,” said one participant. “Performed mainly by men, these dances and sword fights are deeply rooted in Oman’s cultural legacy. They narrate stories unique to each wilayat and are performed during important occasions such as weddings and Eid celebrations.” On the sidelines, an exhibition showcased the region’s rich craftsmanship, small and medium enterprises, and productive families. Displays featured Bahla’s renowned handicrafts, traditional sweets, pottery, weaving and homemade products, underscoring the region’s artistic traditions. The celebration climaxed with a breathtaking performance by Muscat Paragliding Team. Carrying Omani flags and portraits of His Majesty Sultan Haitham bin Tarik, paragliders put on an exhilarating aerial show captivating the audience.None
Company powers down planned expansion of B.C. battery plant
Tom Yeung here with your weekly Smart Money update. In the mid-2010s, I attended an advanced valuations class – one of many continuing education requirements that tests your ability to stay awake. Taking the same course was an options trader from the New York Stock Exchange (NYSE). Now, this trader knew everything about valuing options. As a market maker, he determined the price of hundreds (if not thousands) of options daily. People like him often become so fast at calculating the underlying math that they act more like human calculators than traders. The NYSE’s parent firm, the Intercontinental Exchange ( ICE ), now generates $500 million annually from financial options. But when it came to the underlying stocks... our “human calculator” classmate knew virtually nothing. AAPL... BAC... CVX... These might as well have been strings of random letters. He was only interested in things like delta risk, theta decay, and other things no ordinary person should ever worry about. You should immediately sense an opportunity. Options are directional bets on company stock prices. So, if you believe a stock like CVX (Chevron) will double in the next 12 months, you can profit from that insight simply because the market maker on the other side of the trade does not know... nor does he care. He’s only interested in getting the average trade correct by sticking to his math. So, in today’s Smart Money , let’s take a closer look at exactly how you can take advantage of these market makers’ ignorance with a quick look at how options work. Plus, I’ll show you a specific trade opportunity that smart investors might want to investigate further right now. Options 101 Now, some of you might be thinking, “What exactly is an option?” Essentially, these financial derivatives are side-bets on a stock’s price that allow investors to make enormous payoffs if they get things right. The math might be complicated, but the outcome is straightforward. The simplest of these bets are called call options . It’s much like horse racing when you put a WIN, PLACE, and SHOW bet on the same horse. (Buying stocks, on the other hand, is like buying the horse outright.) Think back to May of this year... At the time, you might not have known if Sierra Leone would win the Kentucky Derby... but you might have been confident enough that the winner of the Blue Grass Stakes (by 1.5 lengths, no less!) was good enough to place third or better at the high-stakes race. (The higher they place, the more you win.) And if Sierra Leone came fourth or worse, the most you can lose is your initial bet. The same principal is true for call options. If a stock is trading at $20, you can often buy “$30 call options for January 2026” for around $1. These contracts are traded in 100-share lots. So, in practice, if the stock does go to $40, your initial $100 wager would suddenly be worth $1,000! (Or $900 if you want to deduct the costs.) Put options are call options in reverse, where you bet on shares going down. Meanwhile, options market makers usually have no idea where the $20 stock will go... or how good of a racer Sierra Leone is. As long as they’re offsetting these bets with clever hedging (i.e., betting on the other 19 Kentucky Derby horses), they don’t mind who eventually wins the race. The Opportunity in Plain Sight This creates some obvious opportunities for keen-eyed investors... even those who have no idea how options are priced. Consider Pfizer Inc. ( PFE ), a company that Eric recently recommended his Fry’s Investment Report members sell. That came after Donald Trump put forward Robert F. Kennedy Jr. to head the Department of Health and Human Services ( HHS ). The drugmaker earns a quarter of its revenues from Covid-19 vaccines and therapies, making it one of the most vaccine-exposed companies in the pharma industry. RFK Jr. is a well-known vaccine skeptic, and Eric rightly doesn’t want to stick around to see what happens next. On the other hand, even Trump’s greatest critics will acknowledge that many of his intended policies will be good for healthcare stocks . This includes repealing the Medicare negotiation provision of the Inflation Reduction Act, reducing Federal Trade Commission oversight of mergers and acquisitions among corporations, lowering corporate taxes, and more. That means Pfizer could either go to the moon... or crash to Earth. But it certainly won’t stay in its $25 range forever. Here’s where options become very useful... This strategy of buying put and call options on the same stock is called a straddle – a bet that a stock will break out of a trading range. And the best part about buying straddles today? They are unusually cheap. Market volatility has collapsed over the past several weeks now that we’re in a lame-duck period between presidents. And our “human calculator” market makers are using this low volatility as an input into their math equations. (i.e., their equations don’t account for what happens after inauguration). That means prices for Pfizer’s $25 straddles for January 2026 have now fallen to the $5.50 range, so traders will break even if PFE shares move either below $19.50 or above $30.50 by that date (that’s $25 plus/minus $5.50). And the further away PFE moves from those two goalposts, the greater the profits will be. If PFE trades at $40 by January 2026 (as they did during Trump’s first term), every $1,000 wagered would be worth $2,727... or $1,727 of profits. And if shares move higher... then you might see gains of 300%... 500%... or more. A Way for Even Faster Gains Not everyone will enjoy waiting around for the next 14 months for Pfizer straddles to mature. The Senate isn’t set to confirm Trump’s nominees until at least January... and it will take many months after that to see whether the new administration’s policies will be beneficial or harmful to the Covid-19 vaccine maker. That’s why I’d like to introduce you to Jonathan Rose , an options trading expert who has generated 16%... 48%... 156%... 545%... even 1,306%... all within a six-and-a-half-hour period. He does this by trading options that are expiring today , rather than those expiring a year or more from now. These “zero-day options” are some of the fastest-growing segments of financial markets today. Within two years, zero-day options have gotten to around $1 trillion a day in trading volume, according to JPMorgan Chase. And when we start seeing a lot of money flow into a specific corner of the market – that really piques our interest. Because these areas tend to be where you find the most dramatic gains. Of course, these big potential rewards come with equally big perils. And that’s why you need a proven game plan that manages the downside risk while leaving the door open for upside gains. That’s why, on Tuesday, November 26, Jonathan will host his One-Day Winners Live Summit to show how his system works. You can click here now to reserve your spot . In the research Jonathan is preparing for this upcoming presentation, he’ll show you how you could’ve used these trades to TRIPLE your money from Donald Trump’s election victory... in less than seven hours . Indeed, when it comes to options, Jonathan is our resident master of money flows. His 25-plus-year career trajectory, from floor trader to CBOE market maker to trading mentor, is a testament to the power of understanding these flows – including winners of 126%, 245%, even 463% or more, often in 30 days or less. So, there’s no one I’d rather have you hear from when it comes to the exploding market for zero-day options. Once again, on Tuesday, November 26, Jonathan will host his urgent summit on this brand-new moneymaking strategy. It is completely free to attend. Just click here now to reserve your spot. Regards, Thomas Yeung Markets Analyst, InvestorPlace
The United States Postal Service might have found a way to unite a nation bitterly divided after this month's election: It will release a Betty White stamp. The beloved actor known for roles in "The Golden Girls," "The Mary Tyler Moore Show," "Boston Legal" and others will be on a 2025 Forever stamp, USPS announced this past week. White died in late December 2021 , less than three weeks before her 100th birthday. The Postal Service hasn't announced a release date for the stamp. Betty White speaks Sept. 17, 2018, at the 70th Primetime Emmy Awards at the Microsoft Theater in Los Angeles. “An icon of American television, Betty White (1922–2021) shared her wit and warmth with viewers for seven decades,” the Postal Service said in announcing the stamp, which depicts a smiling White based on a 2010 photograph by celebrity photographer Kwaku Alston . “The comedic actor, who gained younger generations of fans as she entered her 90s, was also revered as a compassionate advocate for animals.” Boston-based artist Dale Stephanos created the digital illustration from Alston's photo. "I'd love to send a letter back to my 18-year-old self with this stamp on it and tell him that everything is going to be OK," Stephanos posted on Facebook . Regardless of personal politics, self-proclaimed supporters of Republican President-elect Donald Trump and Democratic Vice President Kamala Harris reacted with delight on social media. "Betty White was my hero, all of my life! I actually had a doll when I was a little girl I named Betty White," one Trump supporter posted on X , formerly Twitter. “Something to make this awful week a little better: We’re getting a Betty White stamp,” a pro-Harris X account posted. White combined a wholesome image with a flare for bawdy jokes . Her television career began in the early 1950s and exploded as she aged. “The only SNL host I ever saw get a standing ovation at the after party," Seth Meyers posted on Twitter after her death. "A party at which she ordered a vodka and a hotdog and stayed til the bitter end.” Allen Ludden and his wife Betty White, who love to play games, continue a two year gin rummy battle in which she's ahead by a cumulative 6,000 points in Westchester, N.Y. on April 29, 1965. They do it professionally on TV. He's the master of ceremonies on "Password," and she makes frequent guest appearances on game shows. They play games to relax at home. (AP Photo/Bob Wands) Allen Ludden and his wife Betty White admire magnolia blossoms on the lawn of their country home in Westchester, N.Y. on May 14, 1965. (AP Photo/Bob Wands) Actress Betty White in 1965. (AP Photo) Betty White shares a moment backstage at the 28th annual Emmy Awards with Ted Knight after they each won an Emmy for their supporting roles in "The Mary Tyler Moore Show." On the series Miss White played Sue Ann Nivens while Knight played newscaster Ted Baxter. (AP Photo/Reed Saxon) LOS ANGELES, CA - MAY 17, 1976: (L-R) "The Mary Tyler Moore Show" co-stars - Ed Asner, Betty White, Mary Tyler Moore and Ted Knight - all won awards at the Academy of Television Arts & Sciences 28th Annual Primetime Emmy Awards held at the Shubert Theatre on May 17, 1976 in Los Angeles, California. (Photo by TVA/PictureGroup/Invision for the Academy of Television Arts & Sciences/AP Images) Actress Betty White with Ted Knight at the Emmy Awards in Los Angeles, Sept. 13, 1981. (AP Photo/Randy Rasmussen) Betty White and Anson Williams don't seem to faze Buckeye, a St. Bernard, during an awards ceremony during which Williams was honored by the Los Angeles Society for the Prevention of Cruelty to Animals as a friend and lover of animals. Ms. White presented a humanitarian plaque to Williams at the event, which was held in Hollywood, California, Friday, May 1, 1982. (AP Photo/Marc Karody) Actress Betty White with actor John Hillerman arriving at Emmy Awards, Sept. 22, 1985 in Pasadena, California. (AP Photo/LIU) Actresses Betty White Ludden, left, and Mary Tyler Moore, right, smile at each other in Los Angeles, Friday, June 22, 1985 during Annual Meeting of Morris Animal Foundation, at which Ludden announced her retirement as President of the animal health group, held at the Sheraton Universal Hotel in Los Angeles. (AP Photo/Nick Ut) These four veteran actresses from the television series "The Golden Girls" shown during a break in taping Dec. 25, 1985 in Hollywood. From left are, Estelle Getty, Rue McClanahan, Bea Arthur and Betty White. (AP Photo/Nick Ut) Actress Betty White poses in Los Angeles, Ca. in June, 1986. (AP Photo/Reed Saxon) Betty White stands backstage at the NBC TV Bob Hope "I Love Lucy" special on Sept. 16, 1989. (AP Photo/Djansezian) Michael J. Fox and Betty White, winners of Emmys for best actor and actress in a comedy series, stand backstage at the Pasadena Civic Auditorium in Pasadena, California, Sunday, Sept. 21, 1986 after receiving their honors. (AP Photo/Douglas C. Pizac) Comedienne Betty White places her hand on the star that was presented posthumously to her husband, Allen Ludden, during ceremonies inducting him into the Hollywood Walk of Fame in Hollywood, Los Angeles, Thursday, March 31, 1988. Ludden was honored with the 1,868th star of the famed walkway — between those of White and Tyrone Power. (AP Photo/Nick Ut) Estelle Getty, who plays Sophia, poses with her new husband, who plays Max, and the other "Golden Girls" after taping of episode on Friday, night, Nov. 5,1988 in Hollywood. Left to right are Rue McCLanahan (Blanche), Getty, Gilford, Bea Arthur (Dorothy) and Betty White. (AP Photo/Ira Mark Gostin) Former cast members of the Mary Tyler Moore Show, sans Mary Tyler Moore, are reunited for the Museum of Television and Radio's 9th annual Television Festival in Los Angeles Saturday, March 21, 1992. From left are Gavin MacLeod, Valerie Harper, Cloris Leachman, Betty White and Ed Asner. (AP Photo/Craig Fujii) Actress Betty White, left, writer/producer David E. Kelley, actress Bridget Fonda, and actor Oliver Platt pose at the premiere of their movie "Lake Placid," Wednesday night, July 14, 1999, in Los Angeles. (AP Photo/Mark J. Terrill) Betty White, from "Golden Girls," and Mr. T, Lawrence Tureaud, from "The A Team," pose for photographers at NBC's 75th Anniversary Party, Wednesday, Jan. 9, 2002, in the Hollywood section of Los Angeles. (AP Photo/Rene Macura) Actors Betty White, left, Georgia Engel, second left, Gavin MacLeod, center, Valerie Harper, second right, and John Amos pose for photographers during arrivals at CBS's 75th anniversary celebration Sunday, Nov. 2, 2003, in New York. (AP Photo/Louis Lanzano) Actress Betty White laughs as an African eagle roosts overhead at the Los Angeles Zoo Monday, Feb. 20, 2006, in Los Angeles, where White was honored as Ambassador to the Animals by the city for her decades of dedication to the humane treatment of animals. (AP Photo/Nick Ut) Betty White poses for photographers on the red carpet before Comedy Central's "Roast of William Shatner," Sunday, Aug. 13, 2006, in Los Angeles. (AP Photo/Rene Macura) Betty White arrives at the 34th Annual Daytime Emmy Awards in Los Angeles, on Friday, June 15, 2007. (AP Photo/Mark J. Terrill) Beatrice Arthur, left, Betty White, center, and Rue McClanahan, of the Golden Girls, arrive at the TV Land Awards on Sunday June 8, 2008 in Santa Monica, Calif. (AP Photo/Matt Sayles) Actor Henry Winkler, center, is seen Beatrice Arthur, right, and Betty White at the TV Land Awards on Sunday June 8, 2008 in Santa Monica, Calif. (AP Photo/Matt Sayles) In this Nov. 24, 2009 file photo, actress Betty White poses for a portrait following her appearance on the television talk show "In the House," in Burbank, Calif. (AP Photo/Chris Pizzello, File) Actress Betty White poses for a portrait on the set of the television show "Hot in Cleveland" in Studio City section of Los Angeles on Wednesday, June 9, 2010. (AP Photo/Matt Sayles) Actress Betty White is seen on stage at the Teen Choice Awards on Sunday, Aug. 8, 2010 in Universal City, Calif. (AP Photo/Matt Sayles) Betty White, a cast member in "You Again," poses with fans holding Betty White masks at the premiere of the film in Los Angeles, Wednesday, Sept. 22, 2010. (AP Photo/Chris Pizzello) Actress Betty White wears a U.S. Forest Ranger hat after being named an Honorary Forest Ranger by the US Forest Service, at the Kennedy Center in Washington Washington, Tuesday, Nov. 9, 2010. White has stated in numerous interviews that her first ambition as a young girl was "to become a forest ranger, but they didn't allow women to do that back then". (AP Photo/Cliff Owen) Betty White, left, Bradley Cooper and Scarlett Johansson arrive at the MTV Movie Awards in Universal City, Calif., on Sunday, June 6, 2010. (AP Photo/Matt Sayles) Betty White, left, Kristen Bell, center, and Jamie Lee Curtis, cast members in "You Again," pose together at the premiere of the film in Los Angeles, Wednesday, Sept. 22, 2010. (AP Photo/Chris Pizzello) Betty White, left, accepts the Life Achievement Award from Sandra Bullock at the 16th Annual Screen Actors Guild Awards on Saturday, Jan. 23, 2010, in Los Angeles. (AP Photo/Mark J. Terrill) From left, actresses Betty White, Wendie Malick, Valerie Bertinelli, and Jane Leeves pose for a portrait on the set of the television show "Hot in Cleveland" in Studio City section of Los Angeles on Wednesday, June 9, 2010. (AP Photo/Matt Sayles) Alec Baldwin, left, and Betty White are seen on stage at the 17th Annual Screen Actors Guild Awards on Sunday, Jan. 30, 2011 in Los Angeles. (AP Photo/Mark J. Terrill) Betty White attends a book signing for her book 'If You Ask Me (And Of Course You Won't)' at Barnes & Noble in New York, Friday, May 6, 2011. (AP Photo/Charles Sykes) Actress Betty White attends a press conference prior to the taping of "Betty White's 90th Birthday: A Tribute To America's Golden Girl" on Sunday, Jan. 8, 2012 in Los Angeles. (AP Photo/Vince Bucci) Actress Betty White arrives on a white pony as she is honored at a Friars Club Roast sponsored by Godiva, Wednesday, May 16, 2012 at the Sheraton Hotel in New York. (AP Photo/Starpix, Marion Curtis) Betty White, at left, attends her wax figure unveiling at Madame Tussauds on Monday, June 4, 2012 in Los Angeles. (Photo by Katy Winn/Invision/AP) From left, Sgt. 1st Class Chuck Shuck, Actress Betty White and The 2012 American Hero Dog Gabe pose during 2012 American Humane Association Hero Dog Awards held at the Beverly Hilton Hotel on Saturday, Oct. 6, 2012, in Los Angeles, Calif. (Photo by Ryan Miller/Invision/AP) Betty White and Cloris Leachman onstage at the 24th Annual GLAAD Media Awards at the JW Marriott on Saturday, April 20, 2013 in Los Angeles. (Photo by Todd Williamson/Invision/AP) Ellen DeGeneres, left, presents Betty White with the award for favorite TV icon at the People's Choice Awards at the Nokia Theatre on Wednesday, Jan. 7, 2015, in Los Angeles. (Photo by Chris Pizzello/Invision/AP) Betty White, left, speaks at the 70th Primetime Emmy Awards on Monday, Sept. 17, 2018, at the Microsoft Theater in Los Angeles. Looking on from right are Alec Baldwin and Kate McKinnon. (Photo by Chris Pizzello/Invision/AP) Receive the latest in local entertainment news in your inbox weekly!In conclusion, the South Mountain nationwide coupon campaign is a fantastic opportunity for shoppers to enjoy substantial savings on a variety of products, including the popular Xiaomi Smart Socket 3. With discounts of up to 400 yuan available on single purchases, there has never been a better time to shop at South Mountain. Don't miss out on these incredible deals – head to your nearest South Mountain store or visit their website to take advantage of these exclusive offers today!
LANCASTER, PA — Fulton Financial Corporation (Nasdaq: FULT) has announced a series of strategic actions, reflecting its strong financial standing and commitment to shareholder value. The company’s Board of Directors declared a quarterly cash dividend of 18 cents per share on its common stock, payable on January 15, 2025, to shareholders of record as of December 31, 2024. This represents a one-cent increase from the previous quarter’s dividend, marking a nearly 6% rise. Chairman and CEO Curt Myers highlighted the significance of the increase, stating, “The Board’s decision to increase our common dividend nearly 6 percent demonstrates our continued strength, momentum and commitment to returning value to our shareholders.” Additionally, Fulton declared a quarterly dividend of $12.81 per share (equivalent to $0.32025 per depositary share) on its Preferred Stock, Series A. This dividend also applies to the January 15, 2025, payment date for shareholders of record as of December 31, 2024. Fulton further announced the approval of a stock repurchase program for 2025, which allows the company to buy back up to $125 million of its common stock and other securities. This includes up to $25 million allocated for the repurchase of Preferred Stock. The program, effective January 1, 2025, provides flexibility for repurchases in open market or privately negotiated transactions, with management considering factors such as market conditions and the company’s financial performance. Operating with over $30 billion in assets, Fulton Financial Corporation employs more than 3,400 people and serves customers through 200 financial centers across Pennsylvania, New Jersey, Maryland, Delaware, and Virginia. These announcements spotlight Fulton’s efforts to enhance shareholder value while maintaining a strong financial foundation. For the latest news on everything happening in Chester County and the surrounding area, be sure to follow MyChesCo on Google News and MSN .
Diane Moss lost her home in the Santa Monica Mountains after power lines ignited the apocalyptic Woolsey Fire in 2018. Since then, she’s pressed for a safer electric grid in California. “It’s so easy to forget the risk that we live in — until it happens to you,” said Moss, a longtime clean energy advocate. “All of us in California have to think about how we better prepare to survive disaster, which is only going to be more of a problem as the climate changes.” In recent years, California’s power companies have been doing just that: insulating power lines and burying lines underground, trimming trees, deploying drones and using risk-detection technology. As wildfires across the U.S. intensify , California is on the leading edge of efforts to prevent more deadly and destructive fires ignited by downed power lines and malfunctioning equipment. Customers have shouldered a hefty price for wildfire safety measures. From 2019 through 2023, the California Public Utilities Commission authorized the three largest utilities to collect $27 billion in wildfire prevention and insurance costs from ratepayers, according to a report to the Legislature. And the costs are projected to keep rising: The three companies — Pacific Gas & Electric, Southern California Edison and San Diego Gas & Electric — continue to seek billions more from customers for wildfire prevention spending. Rates are expected to continue outpacing inflation through 2027 . Fire safety projects are a big part of the reason that Californians pay the highest electric rates in the nation, outside of Hawaii. Other reasons include rooftop solar incentives, new transmission systems and upgrades for electric vehicles. High electric bills have helped fuel a statewide affordability crisis alongside soaring housing prices, expensive groceries and costly gasoline. Small businesses are feeling the burden, along with the state’s poorest residents: One in three low-income households served by the three utilities fell behind in paying their power bills this year. California’s three investor-owned utilities are regulated monopolies, so when they spend money on costs related to wildfires, they recover it through customers’ bills. The price of electricity has ignited debate about how much California families should bear for the cost of wildfire prevention, whether utilities are balancing risk and affordability and whether the money is being spent wisely. Loretta Lynch, a former head of the state utilities commission, said lack of oversight is a problem, with the commission “rubber-stamping outrageous costs” and allowing the companies to “address wildfires in the most expensive, least effective way possible.” One of the biggest controversies is whether the utilities should be spending so much on burying power lines, an extremely costly and slow process. Last year, a state audit concluded that the utilities commission and the state’s advocates office must do more to verify whether utilities were completing the work they sought payment for. The three companies say the billions of dollars in spending is necessary as climate change worsens wildfires across the state . Utility equipment has caused less than 10% of the state’s fires but nearly half of its most destructive fires, according to the utilities commission . PG&E, which a few years ago came out of bankruptcy triggered by its liability for several deadly, destructive fires, has adopted the stance that “catastrophic wildfires shall stop.” The company, which serves the most high-risk areas in California, is the state’s largest spender on wildfire prevention. PG&E plans to bury 10,000 miles of power lines in its highest-risk areas — work that is highly contentious because it is costly and slow. The company has buried 800 miles since 2021 , with each mile costing between $3 and $4 million. Last year, the commission approved a $3.7 billion plan for PG&E to bury 1,230 miles of lines through 2026. Sumeet Singh, PG&E’s chief operating officer, told CalMatters that the utility is concerned about rates, too. He said the company is “very committed to stabilizing our customer rates as we go forward without compromising safety. I think that’s clear, that it’s a non-negotiable....There’s a pretty robust process, and oversight, that we are under.” Kevin Geraghty, chief operating officer of SDG&E, called the wildfire spending process “the most highly-scrutinized, regulatory utility process I have ever been involved in, in my life.” Gov. Gavin Newsom issued an executive order in October aimed at tackling the high costs of electricity, asking state agencies to evaluate their oversight of wildfire projects and ensure that the utilities are focused on “cost-effective” measures. He is seeking proposals for changes in rules or laws by Jan. 1. The spark for the increased spending came seven years ago, after California suffered one of its worst droughts and a series of devastating wildfires in 2017 and 2018, many ignited by utility equipment. Sixteen fires were caused by PG&E equipment during a rash of October 2017 fires that decimated Napa, Sonoma and other Northern California counties. That December, the Thomas Fire , sparked by Southern California Edison equipment, engulfed parts of Ventura and Santa Barbara counties. But the devastation of 2017 was only a prelude to an even graver year. On Nov. 8, 2018, the Camp Fire leveled the town of Paradise, killing 85 people, making it the deadliest wildfire in state history. The Camp Fire was caused by the failure of an old metal hook attached to a PG&E transmission tower. An intense wind event pushed the fire at a rate of roughly 80 football fields per minute at its peak. The company in 2020 pleaded guilty to 84 counts of involuntary manslaughter for its role in the disaster. The same day as the destruction in Paradise, another fire ignited some 470 miles south. In the Simi Hills of Ventura County, Southern California Edison wires in two separate locations made contact with others, triggering “arc” flashes that rained hot metal fragments and sparks onto the dry brush below. These triggered two blazes, which soon merged to form the Woolsey Fire. Santa Ana winds spread the conflagration across parched terrain, with swaths of the nationally protected Santa Monica Mountains reduced to ash. Moss, the clean energy advocate, evacuated her home with her son that day. Her husband, clinging to hope, stayed until the blaze threatened to swallow him whole. Their neighborhood near Malibu, with its heavily wooded surroundings, was no match for the inferno. “My husband stayed until the last minute, when it just — it looked like it could cost him his life,” Moss said. “Everybody else left, and just about all of us lost.” Three people died. Moss’ home was gone, reduced to a hollowed out structure and charred rubble, along with about 100,000 acres of parkland and wilderness , more than any other fire in recorded history for that area. In 2019, downed PG&E lines ignited Sonoma County’s Kincade Fire . Then two years later, the Dixie Fire , also caused by PG&E equipment, became the second largest wildfire in California history, burning 963,000 acres north of Chico. The 2021 Dixie Fire, which claimed one life and destroyed 1,311 structures, was the last catastrophic wildfire in California confirmed to be caused by utility equipment. The number of fires triggered by the companies’ equipment fluctuates from year to year, driven by the huge variability in California’s weather. But data from 2014 through 2023 indicate there were substantially fewer fires last year than in other recent years. SDG&E equipment caused 16 fires after its high of 32 fires in 2015, Southern California Edison had 90 fires, compared to a 2021 high of 173, and PG&E reported 374 fires after a high of 510 in 2020. PG&E also reported that fires in its highest-risk areas trended down every month of 2023 compared to the same months in previous years. But that progress reversed this year, with 62 fires reported by August in high-risk areas, compared to 65 in all of 2023. (PG&E would not provide 2024 fire data to CalMatters.) Caroline Thomas Jacobs, inaugural director of the state Office of Energy Infrastructure Safety, established in 2021 to oversee utility safety, said progress can be hard to measure. Nevertheless, she said she has seen a cultural shift at electric companies in recent years, with a more focused approach in high-risk areas and an environment that empowers workers to prioritize safety. “It just takes the wrong ignition ... under the right conditions, to have a catastrophic fire,” Thomas Jacobs said. “But are we in a better place? The numbers seem to indicate we’re moving in the right direction.” PG&E has installed more than 1,500 weather stations and 600 AI-enabled cameras to detect severe weather and ignitions, Singh said. Enhanced safety systems now cut power to lines within a tenth of a second. The utility also has cleared vegetation, ordered power shutoffs during high-risk times, insulated lines and buried some lines underground. “Where do we see the greatest risk?” Singh said the company asks itself, and “what is the most cost-effective way to be able to reduce that risk for every dollar that’s spent?” Southern California Edison said since its investments began in 2019, the risk of catastrophic wildfire in its system has dropped between 85 and 90%. The company plans to bury 600 miles of lines in high-risk areas but it is relying much more on less-expensive insulating technology, which already has been used on more than 6,000 miles of lines. SDG&E began prioritizing wildfire prevention, including underground and insulated lines, a decade ahead of the other two utilities, after its lines sparked three major fires in 2007. The company has avoided a catastrophic fire since 2007, despite operating in one of the nation’s most fire-prone regions. “We continue to double down, and do and do more tomorrow than we did yesterday,” said Brian D’Agostino, the utility’s vice president of wildfire and climate science. “We don’t take a single day without a fire for granted.” Critics say the scramble to address the wildfire crisis has left the state vulnerable to overspending by utilities. About two months before the Camp and Woolsey fires, outgoing Gov. Jerry Brown in 2018 signed a $1 billion plan to thin forests and clear out the tinderbox of California’s dead and dying trees. That measure came too late to prevent the devastation. But it opened the door to increased spending by utilities beyond limits set in the highly deliberative process known as their general rate cases, which determine what Californians pay. Newsom and the Legislature in 2019 created a $21 billion wildfire fund paid for by Wall Street investors and California ratepayers to help PG&E exit bankruptcy and protect utilities from being financially threatened by the wildfires they cause. The utilities cannot access the state’s $21 billion fund unless their wildfire plans are approved by the energy safety office. One problem, critics say, is that the safety plans are approved by one government entity while the spending to carry them out is approved by another. “We now have this very odd system,” said Lynch, who served on the utilities commission from 2000 through 2004. “The Office of Energy Infrastructure Safety reviews the plans, puts out guidelines, but then the (commission) still has to ratify the plans, so that the utilities can take money from their ratepayers.” On a temperate, clear morning in the Sierra Nevada foothills east of Placerville in October, a PG&E construction crew donned yellow jackets and safety helmets and went about the work of burying power lines along a narrow, wooded road. Overhead lines snaked through thick trees in this area — prime fire risk territory. The workers buried the lines in a trench that had been dug using a heavy piece of equipment designed to cut hard concrete and soil. Once those power lines are buried and activated, their risk of fires are all but eliminated. Burying lines in high-risk areas improves reliability amid rising wildfire risks and extreme weather, PG&E’s Singh said. Though it’s pricier up front, it eliminates the yearly expense of trimming trees and vegetation, which makes it a better, long-run value for customers, he said. “Underground is a no-brainer when you look at it from that lens,” Singh said. But the high cost and the time it takes to do the work has left some skeptical. The company has buried 800 miles of wires underground since 2021, and plans to bury more than 1,600 by the end of 2026. It aims to get the cost per mile down to $2.8 million by the end of 2026 from $3 million at the end of 2023. Michael Campbell, assistant deputy director of energy for the public advocates office, a state entity that represents utility customers, said PG&E should consider other means of preventing wildfire, like insulated wires, otherwise known as “covered conductors.” This can be deployed more quickly and at a lower cost, he said, and is effective when combined with operational techniques like fast trip settings and power safety shutoffs. “In some areas, (burying power lines) really is the correct approach to minimize risk. But it’s also very slow and very expensive, and so there’s a need to address safety in as many miles as quickly as possible, to reduce overall risk,” Campbell said. The utilities commission has taken a proof-of-concept approach: The commission scaled back PG&E’s plan to bury 2,000 miles through 2026 to 1,230. The commission approved installing covered conductors, or insulated power lines, over 778 miles. Lynch is skeptical of utilities and their big projects because they can profit from them, and Mark Toney, executive director of The Utility Reform Network, says too much spending is going unchecked. The sense of urgency following fires paved the way for the multi-billion surge in spending. The commission authorized PG&E, for instance, to spend $4.66 billion on wildfire costs from 2020 through 2022, but the company ultimately spent $11.7 billion and is seeking payment through utility bills, according to The Utility Reform Network. Audits of nearly $2.5 billion in 2019 and 2020 wildfire spending found some costs from PG&E , Southern California Edison and SDG&E may already have been covered by previously approved rates, or more documentation was needed to confirm they had not been covered. The utilities challenged many of the findings, saying they didn’t plan to claim some of the costs, and disputed the auditor’s conclusions as well as some of their calculations. In interviews with CalMatters, representatives for all three utilities said the process in place to oversee wildfire spending at the utilities commission was robust and thorough. Geraghty, of SDG&E, said the process is transparent, with public comment periods and hearings. Regarding critics who say wildfire prevention should be cheaper and faster, “every one of them had that voice, had that say, had that transparency through this entire process,” he said. Some expenses, such as operating costs, have an immediate impact on how much people pay in their bills. But other costs, such as long-term investments in insulating or burying power lines, are stretched out over years, meaning they add to bills for decades to come . Over time, these capital costs are growing due to factors like depreciation and the returns utilities are allowed to generate. This creates a compounding effect, meaning wildfire-related capital costs will take up an increasing share of what California customers are charged in the future. The burden of the rising bills is hitting many Californians hard. Roshonda Wilson, of Oakland, couldn’t afford to pay her power bill even though she said she watches television only after sunset, refrains from running unnecessary appliances and is hyper-aware of every energy-consuming action in her household. At one point PG&E turned her power off this year. “I couldn’t catch up,” she said. On the other hand, Moss — who has weathered not just the trauma of losing her home near Malibu but also the difficult process of rebuilding — says the expensive wildfire prevention work is critical to prevent more tragedies. “Even though (burying power lines) is costly and time-consuming, the cost and time of not doing it is starting to seem more devastating to a broader swath of people,” Moss said. Nevertheless, the rate hikes have alarmed climate activists who fear rising power bills in California may trigger a backlash against the state’s effort to switch to renewable energy, and influence other states, too. “The state, we fear, will start to lose the political will to keep pushing on,” said Mohit Chhabra, a senior scientist with the Natural Resources Defense Council. “The problem with that is not that California will be a few years late — we can handle that. But the impact on all the other states who are looking at California.” Natasha Uzcátegui-Liggett and Miguel Gutierrez Jr. contributed to this report.THE Benedicto College (BC) Cheetahs shook off a slow start, then went hot in the third quarter to eke out a 76-59 win over the slumping Cebu Institute of Technology-University (CIT-U) Wildcats in the Cebu Schools Athletic Foundation Inc. (Cesafi) men’s basketball at the Cebu Coliseum, Saturday, Nov. 23, 2024. With the victory, the Cheetahs will face league-leader University of Cebu (UC) Webmasters on Tuesday, Nov. 26, in a battle for the top spot of the standings, wherein the winners will earn the twice-to-beat incentive going to the semifinal round. UC is holding a 7-0 slate while defending champions the University of the Visayas (UV) Green Lancers are locked up at second with a 7-1 card. Benedicto College is logging the third seat with a 6-1 record. Cheetah’s win over the Webmasters tomorrow would give them the No. 1 seat and the twice-to-beat advantage in the next round, but a loss would relegate them to the third spot. Power forward Den Rrick Orgong came up with a double-double performance by scoring 16 points and 14 rebounds to lead the Cheetahs. Junil Bulan also made his presence felt with a 14-13 double-double performance to show, too. Trailing 30-38 in the first half, the Cheetahs started to shoot the lights out in the middle of the third canto and seized up the lead, 52-47, going to the fourth. To make things safer, they continued to wax hotter and even stretched the lead to as much as 19 points, 76-57, en route to securing the victory. Earlier, the University of San Carlos (USC) Warriors dominated the Cebu Roosevelt Memorial College (CRMC) Mustangs, 94-88. USC, CIT-U, and CRMC, along with the University of the Philippines-Cebu Fighting Maroons, finished the elimination round with a 2-6 card apiece. In the high school division, UV Baby Lancers (9-2) mangled CRMC Baby Mustangs (1-10), 112-65, while Sacred Heart School-Ateneo de Cebu Magis Eagles (10-1) trounced USPF Baby Panthers (4-7) threat, 58-52. / JBM
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