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
Read MoreLA, CA still avoiding pension reality
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
Read MorePRI 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
Read MoreDetroit police chief, former LAPD cop: Carry a gun
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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