Compton, CA may declare bankruptcy

[volfan6782]

City of Compton may declare bankruptcy by September: officials - Yahoo! News

This would be the fourth California city to declare bankruptcy. Stockton, San Bernardino, and Mammoth Lakes are the others.

 

[GAVol]

Has NWA commented yet?

 

[bamacheats]

Pimpin ain't easy.

 

[lawgator1]

A number of townships talking about this across the country.

Reasons for it, accuracy of reasons given for it, and proposals to avoid, all vary depending on which one you are talking about and who runs it.

Just remember we are in silly season and take them all with a grain of salt.

 

[volinbham]

Actual bankruptcies are not evidence of anything.

Undisclosed tax returns are evidence of wrong doing.

Perfect.

 

[lawgator1]

Actual bankruptcies are not evidence of anything.

Undisclosed tax returns are evidence of wrong doing.

Perfect.

Key word.

Having spent some time dealing with state and local governments, I can tell you that these kinds of threats get made for all sorts of reasons. Think about it and you will understand what I mean, I am sure.

 

[tumscalcium]

A number of townships talking about this across the country.

Reasons for it, accuracy of reasons given for it, and proposals to avoid, all vary depending on which one you are talking about and who runs it.

Just remember we are in silly season and take them all with a grain of salt.

How many have conservative leadership?

 

[lawgator1]

How many have conservative leadership?

Don't know. And while I assume some might be motivated by a desire to make things look as bad as possible, I am really talking more about making such threats:

In order to cry poor on the eve of contract negotiations;

To justify a new fee or increase in local taxes.