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13. Stockton California is working their way through bankruptcy

Fri Jul 19, 2013, 09:43 AM

Jul 2013

Pensions and retiree health benefits there are being looked at as cost cutting measures. For all the complaints I've seen on DU about the post office being forced to pre-fund retiree health benefits, when I see something like this city bankruptcy, I think it makes sense. The post office is having a tough time even without these benefits being funded, but at least it will give their employees some peace of mind that the money won't just be cut off if the P.O. also goes bankrupt.

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Detroit bankruptcy filing may come as soon as Friday [View all] The Straight Story Jul 2013 OP

I have a question... AsahinaKimi Jul 2013 #1

I'm more worried about the priceless works of art in the DIA. last1standing Jul 2013 #4

Yes I can not imagine .. this has never happened before .. AsahinaKimi Jul 2013 #5

I live here and I don't know how Detroit recovers. last1standing Jul 2013 #7

Won't happen - almost happened over 30 years ago to New York City. ConcernedCanuk Jul 2013 #9

It's happened. last1standing Jul 2013 #11

Actually no it hasn't - they've just filed for it ConcernedCanuk Jul 2013 #12

It looks as though everything will go private. ananda Jul 2013 #6

Detroit: An Ayn Rand Wetdream. last1standing Jul 2013 #8

How does a city file for bankruptcy? Rex Jul 2013 #2

Stockton California is working their way through bankruptcy OnlinePoker Jul 2013 #13

But the emergency dictat..er..manager was supposed to save Detroit Cal Carpenter Jul 2013 #3

Robber Baron is a better term. Rex Jul 2013 #10