Meyer Nails PG&E’s Prop 16; Poizner Bites eMeg
There’s rich irony in the fact that the man who gave California the initiative process — Hiram Johnson — fought against what was then the dominant utility in the state: the Southern Pacific Railroad. And that he’d be rolling over in his grave today to see another dominant utility — Pacific Gas and Electric Co. — using the initiative process in a naked bid to further entrench its monopoly power in half the state.
Tom Meyer’s take on Prop. 16, the June 8 primary initiative backed by $35 million from PG&E., won’t get much argument from a group of local public utilties, which are suing to get the measure off the ballot, charging that it’s an illegal effort by PG&E to destroy competition. Whether it’s illegal or not, Calbuzz is not equipped to judge. But there’s little doubt that seeking to require a two-thirds vote for communities that want to create their own public power is a pure-bred play to kill competition.
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Poizner Flips Meg the Bird: His bird of choice just happens to be the vulture, as in “Goldman Sachs Vulture Funds” to which Steve Poizner links Meg Whitman in his first truly populist hit on Whitman in a 30-second TV spot. Calbuzz prediction: if he puts enough money behind this ad, he will take Whitman down several notches. Whether it’s enough to close the gap is doubtful, but this is the toughest ad we’ve seen out of the Poizner camp.
“This type of pathetic distortion is exactly what Republicans expect from Team Brown and it’s convincing evidence that Steve Poizner has joined it,” replied Whitman spokesvolcano Sarah Pompei. “The truth is that Jerry Brown’s union allies and Steve Poizner will say and do anything to try and defeat Meg Whitman who is the only fiscal conservative running for Governor.”
Both Sides Now: Great catch by our friend Anthony York of Capitol Weekly and the LA Times Blog who noticed that Goldman Sachs has hired Mark Fabiani to defend the investment bank’s reputation while his partner, Chris Lehane, is a principal in the anti-Whitman group Level the Playing Field which has attacked eMeg viciously for her ties to . . . Goldman Sachs.
Pompei’s response is pretty weak. Exactly how is the fact that EMeg invested in a distressed debt fund with Goldman a distortion of the facts? It simply is a fact. You can’t distort it. And it isn’t like the Poizner team gave these funds their name. They’re actually called vulture funds.
I think a lot of people in California will have serious moral qualms about electing a governor who profited from the housing market collapse.