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Social Security's 2032 deadline puts a 22% cut on the table — but Washington has way less room to negotiate than 1983

2

CEO of $20 billion AI firm Perplexity says the secret to success is ‘sleeping with that fear’ that your competitor will steal your idea

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Boomers actually do hold most of the wealth and power. So why do they call it 'whiny' to point that out?

1

Social Security's 2032 deadline puts a 22% cut on the table — but Washington has way less room to negotiate than 1983

2

CEO of $20 billion AI firm Perplexity says the secret to success is ‘sleeping with that fear’ that your competitor will steal your idea

3

Boomers actually do hold most of the wealth and power. So why do they call it 'whiny' to point that out?
EnvironmentUtilities

Fire agencies to probe possible Edison link to LA Hurst fire

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Bloomberg
Bloomberg
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Bloomberg
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January 11, 2025, 10:20 AM ET
The Hurst fire burns in the hills above Sylmar, CA on Wednesday.
The Hurst fire burns in the hills above Sylmar, CA on Wednesday.Myung J. Chun—Los Angeles Times via Getty Images

Edison International’s Southern California utility said fire agencies are investigating whether the company’s equipment was involved in the ignition of the Hurst Fire near San Fernando. 

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A downed conductor was discovered at a tower associated with the Eagle Rock Sylmar 220 kV circuit, the company said in a regulator filing Friday, citing preliminary information. Still, Southern California Edison said it doesn’t know whether the damage occurred before or after the start of the fire. 

The Hurst Fire erupted Tuesday evening and has burned 771 acres (312 hectares) and is 70% contained, according to the California Department of Forestry and Fire Protection. 

Read more: Insurance Firms Ask Edison to Preserve Evidence for LA Fires

Edison’s shares have tumbled amid investor concern that its utility equipment could be linked to devastating wildfires that broke out in Los Angeles during an intense Santa Ana windstorm. The utility said attorneys representing insurance companies have asked it to preserve evidence for the Eaton fire, which has torched thousands of structures and killed at least five people.

No fire agency so far has suggested that Edison’s electrical facilities were involved in an ignition of that fire, or requested the removal or retention of equipment, according to a company filing posted late Thursday with California regulators.

California has a history of devastating wildfires sparked by electric utility equipment during high winds. The state’s largest utility, PG&E Corp., filed for bankruptcy in 2019 after a series of deadly blazes blamed on its power lines. 

Subscribe to Fortune Gulf Brief. Every Tuesday, this new newsletter delivers clear-eyed, authoritative intelligence on the deals, decisions, policies, and power shifts shaping one of the world’s most consequential regions, written for the people who need to act on it. Sign up here.
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