LAT: Props 16 & 17 DEFEATED!

[stopbush]

California election results: Insurance, electricity initiatives backed by major corporations are rejected
June 9, 2010 | 8:33 am

California voters rejected the two initiatives put on Tuesday's ballot by major corporations -- Proposition 16, requiring voter approval before cities can get into the electricity business, and Proposition 17, giving auto insurance companies more leeway in setting rates.

With most of the vote counted Wednesday morning, both measures trailed by more than 150,000 votes -- margins that, for all practical purposes, are insurmountable.

Pacific Gas and Electric Co. spent $46 million on its campaign for Proposition 16, which would have required local government agencies to obtain approval of two-thirds of voters before providing electricity service to new customers.

The measure also would have called for a two-thirds vote before the expansion of service beyond current coverage areas if public funds or bonds were used.

The measure was opposed by several groups, including Consumer Watchdog, which said PG&E was protecting its turf and electricity customers would suffer.

Proposition 17 would have allowed automobile insurance companies to base their prices in part on a driver's history of insurance coverage, authorizing discounts for those who have kept their coverage even if they changed insurance companies.

The measure, on which Mercury Insurance spent $16 million, would have allowed companies to increase the cost of insurance for drivers who have not maintained continuous insurance coverage.

-- Phil Willon in Los Angeles

[Duer 157099]

1. When I went to bed I felt so defeated

Even though many other races didn't go my way, these two were the most distressing, and yet this morning, it turns out they were defeated!

Yay! :thumbsup:

[DesertDiamond]

2. YES!!!!

And I must say 17 was the one that was going to affect me first, because since my unemployment ran out I am about to be one month without car insurance. I was looking at the possibility of my rates going up because of the gap, and thinking how unfair to be penalized for years to come because in this economy I couldn't find a job. Well, not! Whew!!

[Auggie]

3. A victory for PEOPLE

[mitchtv]

4. California does it again

sucks up the millions and gives nothing in return. Sugk it PGE and Mercury

[KingFlorez]

5. I was very pleased with the results

We sent the message that companies do not get to call the shots here.

[stopbush]

6. How soon before PG&E raises user rates to cover the $46MM they spent in ads?

At least they need state approval to raise rates.

[stopbush]

7. As one who was chagrined by the Citizen's United decision of the SCOTUS,

what am I to make of this situation where corporations spent tens of millions of dollars to buy an election, were met with almost zero funds spent in opposition but still lost the initiatives?

Seems to indicate that spending mega bucks is no guarantee of influencing elections enough to pull out the victory, even when there is virtually no opposition.

[dana_b]

8. so glad that POS prop 16 went down

I was bummed about some of the others (open primaries?! shit!) but this was a good win. However I don't think for one minute that PG&E is done with this. They will try again.