Posts tagged 'vallejo'

Further further reading

For the commute home, or while marking your over/under on tomorrow’s payrolls number,

- Banks’ litigation losses in tabular form. Read more

Vallejo’s exit plan: cuts, more cuts and haircuts

Those who believe municipal or state bankruptcy is a clean and simple option may want to take a peek at the city of Vallejo’s proposal to exit court control of its finances. Details from Bloomberg on Wednesday:

The city would pay general unsecured creditors about 5 percent to 20 percent of their claims, according to court papers filed in U.S. Bankruptcy Court in Sacramento, California‚Äôs capital. The creditors, who include retirees and former employees, will be paid $6 million over two years, according to the filing. Read more

Subprime City?

This, perhaps, is precisely the scenario Messrs Spitzer and Dinallo are hoping to avoid:

The city of Vallejo is on the brink of becoming the first California city ever to declare bankruptcy, City Council members said Tuesday. Read more