Posts Tagged ‘Detroit’

LA, CA still avoiding pension reality

Tuesday, August 5th, 2014

The ultimate pension reform is Detroit-style bankruptcy, with retirees getting less than what they are owed by contract. As the NY Times reported on July 22: "DETROIT — Coming to terms with what came to be seen as inevitable, this city’s public-sector retirees have voted to lower their expected...

People leaving CA a ‘success’ story?

Thursday, May 29th, 2014
Detroit home

Joe Mathews presents the counter-intuitive thesis that people leaving California for Texas is a sign of Golden State "success": Yes, California has an above-average unemployment rate and other economic problems, and many of our people and companies are relocating or expanding to states like Texas ...

PRI report examines bankruptcy as tool for struggling cities

Thursday, January 16th, 2014

The Pacific Research Institute has released a report that couldn't be more timely. "Going Broke One City at a Time: Municipal Bankruptcies in America" by economist Wayne H. Winegarden. buy a paper if (1==1) {document.getElementById("link4533").style.display="none";} One of Winegarden's ...

Detroit police chief, former LAPD cop: Carry a gun

Friday, January 3rd, 2014

California just imposed a passel of new gun laws with the new year. A former LAPD cop urges the opposite: Detroit — If more citizens were armed, criminals would think twice about attacking them, Detroit Police Chief James Craig said Thursday. Urban police chiefs are typically in favor of gun con...

Judge: Pensions can’t be cut, but pay can

Tuesday, December 24th, 2013
U.S. bankruptcy court

California still is a long way from resolving its pension crisis, in the courts and elsewhere. But here's an important new development: "SAN JOSE -- In a landmark ruling that could help shape city budgets around the state, a judge invalidated key parts of San Jose's voter-approved pension cuts but ...

CalPERS is worried

Sunday, December 8th, 2013
Bankruptcy convention 2

Last week, U.S. Bankruptcy Judge Steven Rhodes ruled that Detroit city workers' pensions could be part of the Chapter 9 proceedings. So the pensions could be cut substantially. That obviously affects the federal bankruptcy trial for San Bernardino and, potentially, Desert Hot Springs and other Cali...

Is California the next Detroit?

Tuesday, August 27th, 2013
detroit michigan

Editor’s Note: CalWatchdog.com has been following Detroit’s economic situation for several years, and in light of its recent filing for Chapter 9 bankruptcy, we are re-releasing a series of articles detailing the city’s challenges. This piece was originally posted on CalWatchdog, August 14, 2...

Will California become Detroit on the Pacific?

Monday, August 26th, 2013

Editor's Note: CalWatchdog.com has been following Detroit's economic situation for several years, and in light of its recent filing for Chapter 9 bankruptcy, we are re-releasing a series of articles detailing the city's challenges. This piece was originally posted on CalWatchdog, February 18, 2013....

Pension criticism=racism. Aaauugghh! Aaauugghh! Aaauugghh!

Wednesday, August 14th, 2013
scoundrels_tjc[1]

Samuel Johnson's 1775 observation that "patriotism is the last refuge of a scoundrel" has particular resonance nowadays, with civil libertarians who question our government's massive spying on 300 million-plus Americans being derided as tools of U.S. enemies. But when it comes to public employee ...

‘Transit workers vs. just plain workers’

Friday, August 9th, 2013

A renewed BART strike could bring chaos to the Bay Area on Monday. But as CalWatchdog founder Steven Greenhut points out in his U-T San Diego column, the BART labor strife isn't prompting the public reaction that transit unions may have expected. "... the most fascinating development [is] the lack ...