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  • Our View: Democrats bow to labor on bankruptcy (Stockton & other CA cities)

    06/08/2012 12:38:27 AM PDT · by Olog-hai · 5 replies
    Merced Sun-Star ^ | Tuesday, Jun. 05, 2012 | (Editorial board)
    Despite objections from the mayors of California's ten largest cities, the Assembly last week approved Assembly Bill 1692 by Fremont Assemblyman Bob Wieckowski. The bill will make it harder for cities to seek bankruptcy protection. It reneges on a carefully crafted compromise measure approved just six months ago that requires financially beleaguered cities to enter into good-faith negotiations with their creditors—including most significantly, public employee unions—before filing for bankruptcy protection. Stockton was in the midst of that mediation when the bill to undo it began moving in the Legislature. Just how bad are things in Stockton? Well how's this for...