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Alabama’s Jefferson County becomes the biggest U.S. municipal bankruptcy
Alabama’s Jefferson County wants a federal judge to take a second look at a June 29 ruling favoring Wall Street creditors in order to clarify how the cash-strapped local government can pay $1 million a...
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California braces for spate of municipal bankruptcies
Throughout the state, local governments are slashing services to avoid bankruptcy. For some, it’s too late. Facing the same financial stressors that pushed San Bernardino toward bankruptcy, cities...
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Inside San Bernardino’s bankruptcy filing
San Bernardino, facing the possibility of missing payroll, becomes California’s third city in weeks to authorize a bankruptcy filing. San Bernardino on Tuesday became the third California city in less...
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Mammoth Lakes bankruptcy updates
Mammoth Lakes, California filed on Tuesday for Chapter 9 bankruptcy protection from its creditors due to a nearly $43 million legal judgment against it. The filing follows a vote Monday by Mammoth...
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Folsom monetizes ambulance services
Starting Monday, the city of Folsom’s fire department will charge $225 for anyone needing a paramedic. In an era where every American is watching how they spend their money, Folsom’s move follows an...
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Scranton cuts city employees to minimum wage, looks towards digital assets?
Employees of a Pennsylvania city, who have all seen their salaries cut to minimum wage as the mayor grapples with budget problems, are hoping a judge restores their paychecks in full. Scranton Mayor...
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The Bankruptcy of Compton CA
The City of Compton, a city of 93,000 people located on the outskirts of Los Angeles, must decide by September 1 whether to seek bankruptcy, according to its two most senior financial officials. Such a...
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Bankruptcy eligibility fight won’t be quick
STOCKTON – The city’s fight to prove that it is in fact eligible for Chapter 9 protection could stretch into early next year, Stockton’s lead bankruptcy attorney said Wednesday.City officials must...
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City of Camden, New Jersey getting rid of police department
Crime-ridden Camden, New Jersey – often referred to as the most dangerous city in the United States—is getting rid of its police department. In the latest example of a cash-strapped municipality taking...
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Public pensions may be in jeopardy with municipal bankruptcies
The public pension-reform legislation that the California Legislature and Gov. Jerry Brown adopted very carefully avoided any changes to current pensioners’ benefits and those of future recipients now...
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