That’s a nuclear domino. Watch for lots of other municipalities in CA to start doing this.
The money needed to finance the Free S**t Army.
Thanks for posting!
Look for the boy to intervene, lots of his sons in Stockton.
https://www.youtube.com/watch?v=4SFdI2ejaGw
GM was the warning shot across the bow, Detroit followed. So will it be a bunch of California Cities or Illinois that will be next?
I’m not surprised. The USSC has ruled numerous times that local, county and state governments are sovereign, meaning that they can nix contracts passed by previous legislatures.
I’ve had left wing, big government FReepers argue with me that contracts trump the Constitution. Uh-uh. There ain’t no such thing as a plenary legislature. What one group of lawmakers passes in one session can be canceled by the legislative body that follows.
Interesting. I believe CalPERS has a huge chunk of its money in the PIMCO Total Return fund. DId Bill Gross get a whiff of this decision and jump a sinking ship that he built?
I hope the unions take all their funds to fight this.
Will the Federal government step in to save them like they did with “Government Motors”. Will the bankruptcy judge get visited by NSA and advised to change his ruling? Will the bankruptcy judge die in a strange car accident? Lots of possibilities before Oct 30.
“The result would be a mass exodus of employees, the city says.”
You have to get all the way to the end for the BIG LIE. With Real Unemployment at 20% in California, WHO CARES? Put a Help Wanted sign out front and you will have ten times the number of applicants on day one.
Union Bribe money is far more important than mere peasant taxpayers money
Live like parasites//// die like parasites
Couldn't have happened to a more deserving crowd.
The natives are going to be restless. That is, until they find a more friendly jurist to reverse this decision....the Ca way.
¡Ay carumba! El Senor gigante Sta-Puft! Arriba!