Category: Vallejo

Postcard from the undiscovered country: Part 3, puzzles the will

13 June, 2012 (09:59) | Bankruptcy, Cities, Municipal bankruptcy, Real estate taxes, Speculation, Vallejo |

[Continued from yesterday’s Part 2 and the preceding Part 1.]   By:David A. Smith   In the preceding two parts we’ve visited post-bankruptcy Vallejo, which as reported in the Washington Post has used municipal bankruptcy to rejuvenate itself, despite the dire foolishness of previous analysts  whose thinking I refuted a year ago.  Vallejo did it […]

Postcard from the undiscovered country: Part 2, no traveler returns

12 June, 2012 (09:26) | Bankruptcy, Cities, Municipal bankruptcy, Real estate taxes, Speculation, Vallejo |

[Continued from yesterday’s Part 1.]   By:David A. Smith   Yesterday’s post introduced us to post-bankruptcy Vallejo, which despite pre-bankruptcy shallow analysis from the likes of Roger Lowenstein, whose reasoning I dismantled a year ago, is in fact prospering as a direct consequence of the recapitalization and reinvention the bankruptcy made possible, as reported  (with […]

Postcard from the undiscovered country: Part 1, from whose bourn

11 June, 2012 (11:25) | Bankruptcy, Cities, Municipal bankruptcy, Real estate taxes, Speculation, Vallejo |

By:David A. Smith   If you wanted to know about life after death, wouldn’t you want a postcard from the other side?   We’re solvent: don’t you wish you were?   Now we have one such postcard, from Vallejo, California, and that makes it extremely important to the future of America’s municipal finance, the roles […]

Brokedown public palaces: Part 3, the right prescription

27 April, 2011 (19:53) | Bankruptcy, Cities, Municipal bankruptcy, Real estate taxes, Speculation, US News, Vallejo |

Continued from yesterday’s Part 2 and the preceding Part 1.] By: David A. Smith I spent most of yesterday’s Part 2 correcting Roger Lowenstein‘s string of foolish statements, in a New York Times magazine article on bankrupt Vallejo, California, about why municipal bankruptcy, in his words, “doesn’t work.” Not out of business, merely bankrupt In […]

Brokedown public palaces: Part 2, unsound prognosis

26 April, 2011 (14:01) | Bankruptcy, Cities, Municipal bankruptcy, Real estate taxes, Speculation, US News, Vallejo |

[Continued from yesterday’s Part 1.]   By: David A. Smith   In yesterday’s Part 1, we saw the good side of Roger Lowenstein‘s interesting New York Times magazine article on bankrupt Vallejo, California – his thorough documentation of a city whose municipal finances are insolvent and economically kaput.  Now for the bad side – Mr. […]