Nov. 27, 2012 By John Seiler It looks like only bankruptcy will bring pension reform to Los Angeles. Former Mayor Richard Riordan just dropped his efforts to put San Jose-San Diego-style pension reform before the city's voters: "The sudden retreat followed an attack by organized labor on a pl...
Posts Tagged ‘bankruptcy’Riordan drops L.A. pension reformTuesday, November 27th, 2012Bankruptcy series: The Road AheadWednesday, November 14th, 2012Editor’s Note: This is the 11th in a CalWatchDog.com Special Series of in-depth articles on municipal bankruptcy. Nov. 14, 2012 By Chriss Street Up through September 2011, Wall Street underwriters, bond counsels and other assorted securities industry camp followers were gloating over th... Los Angeles teeters on the brink of bankruptcyTuesday, November 13th, 2012Editor’s Note: This is the Tenth in a CalWatchDog.com Special Series of in-depth articles on municipal bankruptcy Nov. 13, 2012 By Brian Calle Taxpayers in Los Angeles are facing a major crisis if Mayor Antonio Villaraigosa and other officials do not begin to address the systemic, struc... Bankruptcy Series: What are the alternatives to bankruptcy?Monday, November 12th, 2012Editor’s Note: This is the Ninth in a CalWatchDog.com Special Series of in-depth articles on municipal bankruptcy. Nov. 12, 2012 By Tori Richards It was 1975 and New York City was running out of cash. Its excessive spending and lack of financial oversight created a $14 billion debt, wit... Bankruptcy Series: Cities on a future spending spreeFriday, November 9th, 2012Editor’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 unde... Moody’s warns of mass Calif. municipal bankruptciesSaturday, August 18th, 2012 Aug. 18, 2012 By Chriss Street The klaxon horn went off Friday evening for California municipal bondholders when Moody’s Investors Services issued a report stating that the plummeting financial condition of many California counties, cities, school districts and other government agencies will... Calif. default risk turns Gov. Brown into a capitalistThursday, August 2nd, 2012Aug. 2, 2012 By Chriss Street There is nothing like the threat of insolvency and a downgrade to junk bond status to motivate traditionally liberal politicians to abandon the environmentalists who heavily fund their campaigns. Last week, Gov. Jerry Brown of California tossed one of his core c... Bankruptcy: Report warned of San Bernardino fiscal foolishnessFriday, July 27th, 2012July 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 and shore up the general f... CA chickens coming home to roostTuesday, July 24th, 2012July 23, 2012 Katy Grimes: A fourth California city is on the verge of bankruptcy. What a surprise. Yawn. The news that Compton is about to file for federal bankruptcy protection is not surprising. But news that Santa Monica may also file, is. Sadly, this is probably just the fourth in... Officials’ foolishness slams citiesMonday, July 23rd, 2012July 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 fall. One California city after... |