Wed Jul 11, 2012, 01:08 AM

jannyk (4,776 posts)

San Bernardino votes to file for bankruptcy protection

Source: LA Times

The San Bernardino City Council votes to file for bankruptcy. Facing a $45-million budget shortfall and the prospect of not being able to pay city workers, the panel Tuesday voted to file municipal bankruptcy, the third California city to do so in recent weeks.

The vote came shortly after the interim city manager recommended seeking bankruptcy protection, saying the city may not be able to make payroll over the next three months. "We have an immediate cash flow issue," Andrea Miller told the mayor and seven-member council.

The dire fiscal situation remains even after the city negotiated $10 million in concessions from employees and slashed the workforce by 20% over the last four years.

If San Bernardino votes to declare bankruptcy, it would be the third California city to do so in recent weeks, joining Stockton and Mammoth Lakes. The council called special back-to-back budget meetings Tuesday and Wednesday, which are expected to attract a packed house at City Hall.

Read more: http://latimesblogs.latimes.com/lanow/2012/07/san-bernardino-files-for-bankruptcy-protection.html

8 replies, 1844 views

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8 replies	Author	Time	Post
San Bernardino votes to file for bankruptcy protection (Original post)	jannyk	Jul 2012	OP
Another victim of the real estate implosion in CA.	SunSeeker	Jul 2012	#1
Advice	kansas93	Jul 2012	#2
Sage advice, Kansas93, and welcome to Democratic Underground	NBachers	Jul 2012	#3
Kansas93 is on to something, especially about San Bernardino.	SunSeeker	Jul 2012	#7
You mean a GOP city counsel like in San Bernardino spending a ton on a movie theater?	SunSeeker	Jul 2012	#8
My only question is, what took so long?	Spitfire of ATJ	Jul 2012	#4
First Stockton (last week), now San Berdoo. I wonder	coalition_unwilling	Jul 2012	#5
Irvine,....as a tax dodge.....	Spitfire of ATJ	Jul 2012	#6

Response to jannyk (Original post)

Wed Jul 11, 2012, 01:21 AM

SunSeeker (5,035 posts)

1. Another victim of the real estate implosion in CA.

San Bernardino County was really hit hard. Everyone I know there lost 40-50% of the equity in their home. There are ghost towns of abandoned foreclosed homes. It is so sad. And to make matters worse, it is a very red county, with teabaggers controlling a lot of local government. No doubt they will use the bankruptcy to really screw the city workers.

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Response to jannyk (Original post)

Wed Jul 11, 2012, 01:40 AM

kansas93 (1 post)

2. Advice

This is something I hope you will take seriously. Every city, town and state that is run by tea party or GOP must start checking into private assets of their reps. Look for venture capital firms in the news that have gotten large funding for creation of jobs or projects or whatever else you can find. Get a team, you will need one.

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Response to kansas93 (Reply #2)

Wed Jul 11, 2012, 03:13 AM

NBachers (3,697 posts)

3. Sage advice, Kansas93, and welcome to Democratic Underground

So is your advice coming from a "vague feeling of unease," or do you have knowledge or experience that points thataway?

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Response to NBachers (Reply #3)

Thu Jul 12, 2012, 12:06 AM

SunSeeker (5,035 posts)

7. Kansas93 is on to something, especially about San Bernardino.

http://www.democraticunderground.com/1014164120

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Response to kansas93 (Reply #2)

Thu Jul 12, 2012, 12:10 AM

SunSeeker (5,035 posts)

8. You mean a GOP city counsel like in San Bernardino spending a ton on a movie theater?

http://latimesblogs.latimes.com/lanow/2012/07/san-bernardino-bankruptcy.html

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Response to jannyk (Original post)

Wed Jul 11, 2012, 03:44 AM

Spitfire of ATJ (7,379 posts)

4. My only question is, what took so long?

Last edited Wed Jul 11, 2012, 03:46 AM USA/ET - Edit history (1)

San Burn-a-hooter as it's known here is one of the most down and out major cities in California. One of the only things that's kept it afloat is the airport and the fact that it's on the way to somewhere else. Namely Big Bear and Palm Springs. This is the kind of place where cab drivers get mugged and prostitutes strut their stuff on a Tuesday night.

About 20 years ago they drained Seccombe Lake near the downtown area to dredge the built up silt and found weighed down corpses on the bottom. One was inside an old refrigerator. That was freaky. They had to have put it on a boat and floated it out there and then tossed it over. Makes you wonder if the person inside was still alive since they showed the fridge in the paper at the time and it was one of those old types with the latch handles.

One of the local jokes was the reason San Bernardino was so bad was because it was next to Rialto. I'm sure Rialto says the same in reverse.

Well,.....maybe not....

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Response to Spitfire of ATJ (Reply #4)

Wed Jul 11, 2012, 09:37 AM

coalition_unwilling (14,180 posts)

5. First Stockton (last week), now San Berdoo. I wonder

who will be next?

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Response to coalition_unwilling (Reply #5)

Wed Jul 11, 2012, 02:39 PM

Spitfire of ATJ (7,379 posts)

6. Irvine,....as a tax dodge.....

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