Tag "San Bernardino"

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Bankruptcy: Report warned of San Bernardino fiscal foolishness 30

July 27, 2012 By Tori Richards SAN BERNARDINO — Five years before San Bernardino became California’s third city seeking bankruptcy protection in 2012, a 266-page management analysis report warned of dire repercussions if changes weren’t made that would cut costs

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Officials’ foolishness slams cities 18

July 23, 2012 By Steven Greenhut SACRAMENTO — First, Vallejo, in 2008. Next, Stockton, then Mammoth Lakes and, now, San Bernardino and soon, perhaps, Compton. As Orange County Supervisor John Moorlach told Bloomberg News, the bankruptcy dominoes are starting to

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Salaries, mistakes slammed San Bernardino into bankruptcy 27

July 20, 2012 By Tori Richards SAN BERNARDINO — The bankrupt city of San Bernardino has displayed its shortcomings in a 54-page report that outlines myriad areas where ineptitude has placed them in a position where they cannot meet payroll

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Eminent domain mass delusion hits San Berdoo 27

July 16, 2012 by Wayne Lusvardi A few hundred years ago there was the famous Dutch Tulip Mania of 1637. It was followed by the South Sea Bubble of 1711 and the Mississippi Company Bubble of 1719. In modern times,

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First pensions, and now bankruptcy tsunami 69

July 12, 2012 By Steven Greenhut First Vallejo, then Stockton, then Mammoth Lakes and now San Bernardino. As Orange County Supervisor John Moorlach told Bloomberg News, the bankruptcy dominoes are starting to fall. One California city after another — following

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San Berdoo declares bankruptcy 0

July 11, 2012 By John Seiler San Bernardino — San Berdoo to old-time Californios — just declared bankruptcy. The reason, reported the Sun: “In an earlier report to the council, [Acting City Manager] Travis-Miller said the city has faced declining

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County, city mortgage grabs could spark new housing crisis 10

June 21, 2012 By Wayne Lusvardi In San Bernardino, the county has approved using eminent domain to seize bank-owned pools of “underwater mortgages” to get the county out of its over-indebted housing stagnation. The city of San Bernardino has the second highest poverty rate in

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