California City Becomes Largest In The Country To Go Bankrupt
It appars that California may be the first state with cities declaring bankruptcy, though I know many others are weighing the consideration, and not far off. 2013 is going to be a great time of disruption. Hold on guys.
Nearly two dozen California cities, from San Jose and Watsonville to San Bernardino and Compton, either are facing bankruptcy or financial emergencies — and their pension costs are getting heightened scrutiny.
Perhaps none stands out as much as Stockton, a city of nearly 300,000 where 40 percent of residents are Hispanic. It became the largest city in the country to declare bankruptcy last year --a move approved by a judge on Monday.
Read more: http://latino.foxnews.com/latino/news/2013/04/02/pension-problems-at-heart-stockton-calif-bankruptcy/#ixzz2PL1vGjM4
It appars that California may be the first state with cities declaring bankruptcy, though I know many others are weighing the consideration, and not far off. 2013 is going to be a great time of disruption. Hold on guys.
Nearly two dozen California cities, from San Jose and Watsonville to San Bernardino and Compton, either are facing bankruptcy or financial emergencies — and their pension costs are getting heightened scrutiny.
Perhaps none stands out as much as Stockton, a city of nearly 300,000 where 40 percent of residents are Hispanic. It became the largest city in the country to declare bankruptcy last year --a move approved by a judge on Monday.
Read more: http://latino.foxnews.com/latino/news/2013/04/02/pension-problems-at-heart-stockton-calif-bankruptcy/#ixzz2PL1vGjM4
Posts
No comments:
Post a Comment