california update 4 / 12 / 01 ? sources report that socal chairman , john bryson , and governor davis were roommates together at stanford in the early 60 ' s . this longstanding relationship may provide some explanation for socal ' s willingness to negotiate with the governor and the governor ' s determination to reach a solution with socal .
? voluntary bankruptcy reportedly is " not an option " for socal . however , the possibility remains that socal ' s creditors will take them into involuntary bankruptcy . if the state ' s purchase of the transmission assets is delayed , it appears that the possibility of this occurring will increase .
? however , the agreement by the state to purchase socal ' s transmission assets is actually a memorandum of understanding . the agreement reportedly was rushed for " political purposes , " but the details still remain to be decided . it is possible , the 60 - day deadline stated in the memorandum may have to be extended .
? pg & e reportedly refused to part with its transmission assets in its negotiations with the governor . pg & e makes more money on transmission than distribution of power , the opposite is true for socal .