Tag "San Bernardino"

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CalPERS numbers attract fresh scrutiny

The California Public Employees’ Retirement System looks to see 2015 as another controversial year, especially around four budding controversies. First, attention has focused in recent weeks around the way CalPERS pays its board members and executives. An investigation by the Sacramento Bee

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Bankruptcy could cut San Bernardino fire pensions

  It was a hot 102 degrees last Thursday in San Bernardino — perfect weather for a city bankruptcy “cramdown.” Federal Bankruptcy Court Judge Meredith Jury ruled the city, as Reuters reported, “may impose cuts to its firefighters’ overtime and pension benefits in a bid

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San Bernardino bankruptcy shows pensions crowding out services

  In his novel “The Sun Also Rises,” California novelist Ernest Hemingway wrote, “How do you go bankrupt? Two ways: Gradually, then suddenly.” Case in point: the City of San Bernardino, which filed for bankruptcy in 2012. The pace of municipal bankruptcy

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Pension follies: New Jersey adopts insane San Diego approach

California leads the way when it comes to government pension dysfunction. The first big city to be stricken by pension costs in the U.S. was San Diego, leading to the memorable 2004 New York Times’ description of it as “Enron

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San Jose Mayor Reed folds on pension initiative 57

In a disappointing indicator of the challenges facing public pension reform, outgoing San Jose Mayor Chuck Reed has shelved his statewide ballot initiative designed to address the problem. The mayor blames a time crunch and unappealing language used in Attorney

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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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Why Arnold owes U.S. taxpayers billions of dollars (non-bullet train edition)

Two interesting pieces published recently make a strong case that government can be made far more efficient if we actually tried empirically to evaluate what worked and what didn't. On the Zocalo Public Square website, Pepperdine academic Pete Peterson takes

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Federal judge rebuffs CalPERS, OK’s San Bernardino bankruptcy

In a victory for taxpayers, a federal judge ruled Wednesday that the City of San Bernardino is eligible to file for bankruptcy. That trumped the claims of the California Public Employees Pension System that the court had the paramount right

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California government as organized looting, chapter 237 7

April 5, 2013 By Chris Reed The longer I’ve lived in California, the more governance here seems to resemble organized looting of taxpayers. It’s not just the showy and ridiculous things, like the longtime president of the CalPERS governing board

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Bankruptcy judge rejects CalPERS’ claim to protected status 21

April 3, 2013 By Chris Reed As John Seiler pointed out here Tuesday, Monday’s court ruling by U.S. Bankruptcy Judge Christopher Klein isn’t seen as definitive. Yes, the city of Stockton can proceed with its bankruptcy filing. No, Klein doesn’t yet

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