Tag "Detroit"

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Detroit sends CA another bankruptcy warning

The Stockton and San Bernardino bankruptcies in 2012 were the largest for cities in American history — until Detroit in 2013. State laws and situations differ. But there’s a new warning from Detroit for California’s municipal governments, especially as bankruptcy courts

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LA, CA still avoiding pension reality 51

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

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People leaving CA a ‘success’ story?

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

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PRI report examines bankruptcy as tool for struggling cities

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 One of Winegarden's key conclusions: “If used appropriately, bankruptcy

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Detroit police chief, former LAPD cop: Carry a gun 12

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

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

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

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CalPERS is worried

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

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Is California the next Detroit?

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,

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Will California become Detroit on the Pacific?

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,

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Pension criticism=racism. Aaauugghh! Aaauugghh! Aaauugghh!

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

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