Category: pensions

Next up, Chicago: Part 3, Get their attention

17 September, 2013 (11:22) | Bankruptcy, Capital markets, Chicago, Cities, Detroit, Economics, Municipal bankruptcy, pensions, public pensions, Real estate taxes, US News |

By:David A. Smith   [Continued from yesterday's Part 2 and the preceding Part 1.]   As we’ve seen in the preceding parts, Chicago Mayor Rahm Emanuel, a man not known as a fiscal conservative, has been taking a firm line with Chicago’s public employee unions, including its public school teachers.   Sources for this post   […]

Next up, Chicago: Part 2, raise revenue, cut costs, or go bankrupt

16 September, 2013 (10:03) | Bankruptcy, Capital markets, Chicago, Cities, Detroit, Economics, Municipal bankruptcy, pensions, Real estate taxes, US News |

  By:David A. Smith   [Continued from yesterday's Part 1.]   As we saw yesterday, Chicago’s in a fine mess (and not just the White Sox continuing underachievement) – not yet as bad as Detroit, whose decline was accelerated by decades of population loss as anyone who could fled the city, but different only in […]

Next up, Chicago: Part 1, Now it’s panic time

13 September, 2013 (11:19) | Bankruptcy, Capital markets, Chicago, Cities, Detroit, Economics, Municipal bankruptcy, pensions, public pensions, Real estate taxes, US News |

By:David A. Smith   What, you’re surprised?   Actually, I’m upset   Detroit has already filed the nation’s biggest municipal bankruptcy ever, and San Bernardino’s bankruptcy filing has been allowed (over the objections of the CalPERS evil empire).  Along with many others (like Jefferson County, Harrisburg, and more), both cities succumbed to the Law of […]

Bad news for bad faith

30 July, 2013 (09:00) | Bankruptcy, CalPERS, Litigation, pensions, Stockton |

By:David A. Smith   As Stockton goes, so does Detroit?   Entering bankruptcy … follow the lead of those who’ve gone before   Detroit’s recent bankruptcy filing, though entirely predictable and fully foreshadowed, will focus public attention because of its political significance (the GM recapitalization, the President’s previous boast of having “refused to let Detroit […]

Month in Review: May, 2013, Part 2: the bad news

19 July, 2013 (09:00) | Apartments, Bonds, Boston, Building Codes, Chapter 93A, China, consumer protection, Enforcement, Eurozone, Foreclosure, Harrisburg, Litigation, Month in review, Non-Profits, pensions, Renovation, Spain, Student housing |

[Continued from yesterday's Part 1.]   By:David A. Smith   As we saw yesterday, May was a month with quite a bit of good news, though a misanthrope can find human behavior to mock even then, though genuine bitterness and anger are reserved for human folly that compounds human suffering, such as in the Eurozone.  […]