Thu Aug 2, 2012, 03:46 AM
alp227 (29,170 posts)
San Bernardino files for bankruptcy
A California city filed for bankruptcy Wednesday, the third in the Golden State to do so in recent weeks, stoking experts' concerns that other cities could follow suit.
The city of San Bernardino, with more than 200,000 residents on the eastern tip of greater Los Angeles, "filed an emergency petition for Chapter 9 Bankruptcy" with a regional U.S. bankruptcy court, according to a news release from the city's interim manager.
The other two to file recently were Stockton, with around 300,000 residents, according to 2010 U.S. census data, and Mammoth Lakes, a resort town, where visitors and seasonal residents outnumber the just over 8,000 permanent inhabitants.
Many municipalities in the Golden State and around the nation are struggling to cover their costs as the economic malaise continues to hurt tax revenue streams, experts said. This will lead to more municipal bankruptcies, which have been rare until now.
Read more: http://www.cnn.com/2012/08/02/us/california-city-bankruptcy/index.html`
5 replies, 1827 views
Always highlight: 10 newest replies | Replies posted after I mark a forum
Replies to this discussion thread
San Bernardino files for bankruptcy (Original post)
Response to alp227 (Original post)
Thu Aug 2, 2012, 07:12 AM
90-percent (5,654 posts)
4. There's a Zappa song about that
I prefer the one Size Fits All version, but my DU buds get a chance to see Frank performing at the height of his popularity.
The guy in the flight suit is Adrian Belew, who went on to some good stuff with David Bowie, Talking Heads, king Crimson and others. Frank discovered him playing in a Holiday Inn Lounge in Kentucky.
Aha - found the original version
Village of the Sun is another nice Zappa song about his "home town"