Go Back   This Blue Marble, a Global Current Events Discussion Forum > Main Floor > Economy

Economy Economy discussion forum. Discuss the politics and effects of the general economy and global economic collapse here. Please keep all politics out of the Finance and Investment subforum.

Reply
 
Thread Tools Search this Thread Display Modes
Old 06-27-2012, 06:27 AM   #1
Samen
unregistered
 
Samen's Avatar
 
Join Date: Oct 2008
Posts: 5,954
Thanks: 147
Thanked 335 Times in 225 Posts
Default Californian city of Stockton to file for bankruptcy

The Californian city of Stockton is set to become the largest US city to declare bankruptcy.
Mayor Ann Johnston told the city council which endorsed the move it was "the most difficult and heart-wrenching decision" they had ever faced.

http://www.bbc.co.uk/news/world-us-canada-18605326

Stockton to file for bankruptcy, will be largest U.S. city to fail
The Stockton City Council halts bond payments, slashes employee benefits and adopts an emergency budget as mediation ends. The Central Valley city becomes the largest in the U.S. to seek bankruptcy protection.

http://www.latimes.com/news/local/la...,2285815.story
Samen is offline   Reply With Quote
Old 06-27-2012, 11:53 AM   #2
sandyd
Beach Fun
 
sandyd's Avatar
 
Join Date: Aug 2008
Location: SoCal
Posts: 7,819
Thanks: 1,167
Thanked 803 Times in 488 Posts
It's slow but more should follow. Be interesting to see how this sets what the courts do for others.
__________________
My thoughts don't feel like electric chemistry, but that is what they are- Henry Marsh, neurosurgeon.
sandyd is offline   Reply With Quote
Old 06-27-2012, 11:57 AM   #3
Dietrich
Niche player
 
Dietrich's Avatar
 
Join Date: Jun 2011
Posts: 1,605
Thanks: 178
Thanked 367 Times in 227 Posts
Pretty big city-- about 300,000 people
Dietrich is offline   Reply With Quote
Reply

Tags
bankruptcy, californian, city, faces, stockton

Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Forum Jump


All times are GMT -4. The time now is 01:43 AM.


Powered by vBulletin®
Copyright © Jelsoft Enterprises Ltd.