Tag "Stockton"

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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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Judge: Stockton can go belly up 34

April 2, 2013 By John Seiler It’s official: The city of Stockton is bankrupt. On April 1, U.S. Bankruptcy Judge Christopher Klein ruled that Stockton’s bankruptcy can proceed. “It’s apparent to me the city would not be able to perform

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Pensions at heart of bankruptcy 31

April 1, 2013 By Steven Greenhut SACRAMENTO — Few nonlocal people typically pay much attention to the goings-on in Stockton, a hard-pressed Gold Rush-era industrial city of about 300,000 that sits in the agriculturally rich San Joaquin Valley, at the

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Stockton bankruptcy judge’s pedigree, history offer hope 11

March 27, 2013 By Chris Reed The stakes are immense in the four-day trial in Sacramento’s federal bankruptcy court this week. The New York Times frames the issue well: “Wall Street is taking America’s biggest pension fund to court this

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More CA cities should declare bankruptcy 9

March 8, 2013 By John Seiler Last year, three California cities declared bankruptcy: Stockton, San Bernardino and Mammoth Lakes. Atwater nearly did. Mammoth Lakes lost a lawsuit. But for the other cities — as well as for the Vallejo bankruptcy

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CA suffers 3 of 8 “most miserable” cities 5

Feb. 23, 2013 By John Seiler In Forbes’ new ranking, three of the eight “most miserable” cities in the United States are in California: Modesto (No. 5 worst), Vallejo (No. 6) and Stockton (No. 8). Cities were graded on such

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Municipal Bankruptcy Can Restore Financial Stability 9

Jan. 17, 2013 By Todd C. Ringstad The threat of bankruptcy still haunts California. State and municipal finances have been improving, yet last year three cities filed for Chapter 9 bankruptcy: Stockton, San Bernardino and Mammoth Lakes. Around the country,

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Little Hoover: More CA city bankruptcies loom 38

Nov. 14, 2012 By Dave Roberts “Are your cities going to make it for five years?” asked Little Hoover Commission Chairman Daniel Hancock at the recent commission hearing on pension and infrastructure financing. “That’s a good question,” responded Dwight Stenbakken, deputy

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Bankruptcy Series: Cities on a future spending spree 23

Editor’s Note: This is the eighth in a CalWatchDog.com Special Series of in-depth articles on municipal bankruptcy. Nov. 9, 2012 By Wayne Lusvardi Are the staggering forecasted public pension obligations facing state and local governments in California the result of overspending or

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Public employee pensions: Some contracts are more sacred than others 32

Third in a series on public pensions. The first is here and the second here. Oct. 5, 2012 By Mark Cabaniss On Wednesday, the city of Atwater declared a fiscal emergency, putting it on the path to become the fourth California city

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