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Stockton Bankruptcy

This Could Be Detroit's Future

time.com | Posted 07.25.2013 | Detroit

More than a year after filing for Chapter 9 protection, the California city is struggling with protracted court battles and stripped city services —...

Detroit Bankruptcy Filing Puts Spotlight on Distressed Municipal Pensions

Jacob Adlerstein | Posted 09.23.2013 | Business
Jacob Adlerstein

If Detroit prevails in significantly reducing its pension obligations, it will potentially provide a blueprint for other jurisdictions to follow.

How Will Stockton Pay Its Pensions?

AP | TRACIE CONE | Posted 04.02.2013 | San Francisco

SACRAMENTO, Calif. -- On its first official day in bankruptcy, the city of Stockton now must grapple with the hard part of reorganizing its financial ...

Stockton To Enter Bankruptcy, Judge Rules

Reuters | Jonathan Weber | Posted 06.01.2013 | Business

SACRAMENTO, Calif., April 1 (Reuters) - The city of Stockton, California, is eligible for bankruptcy protection, a federal judge ruled on Monday, turn...

Bankruptcy Is Only The Beginning...

AP | TRACIE CONE | Posted 06.01.2013 | San Francisco

SACRAMENTO, Calif. — The people of Stockton will feel financial fallout for years after a federal judge ruled Monday to let the city become the ...

'No Other Option But Bankruptcy'

AP | TRACIE CONE | Posted 05.25.2013 | San Francisco

SACRAMENTO, Calif. — Lawyers for the California city of Stockton said Monday it has cut its budget and services to the bone and has no choice ab...

American Cities Going Broke

24/7 Wall St. | Michael B. Sauter, Alexander E.M. Hess, Samuel Weigley | Posted 10.27.2012 | Business

From 24/7 Wall St.: Earlier this year, the city of Stockton, California, defaulted on its debt and filed for bankruptcy. For analysts at ratings agenc...

Did Minor League Hockey Promotion Go Too Far?

AP | Posted 09.19.2012 | Sports

FRESNO, Calif. -- A hockey game promotion poking fun at America's largest bankrupt city has caused a tiff between fans and newspaper columnists in Cal...

OUCH: Hockey Team Hosts 'Our City Isn't Bankrupt Night'

www.huffingtonpost.com | Posted 11.19.2012 | San Francisco

FRESNO, Calif. -- A hockey game promotion poking fun at America's largest bankrupt city has caused a tiff between fans and newspaper columnists in Cal...

John Rudolf

Bankrupt California City Faces Cop 'Mass Exodus' During Crime Wave

HuffingtonPost.com | John Rudolf | Posted 08.23.2012 | Crime

Bankrupt Stockton, Calif., faces a "mass exodus" of police officers in the midst of a crime wave if it is forced by creditors to slash pension benefit...

Will San Jose Go Bankrupt Next?

AP | HANNAH DREIER and GOSIA WOZNIACKA | Posted 10.17.2012 | San Francisco

SACRAMENTO, Calif. -- One of the nation's top credit rating agencies said Friday that it expects more municipal bankruptcies and defaults in Californi...

Scranton Cuts A Deal To Pay Cops And Firefighters For Doing Their Jobs

The Huffington Post | Alexander Eichler | Posted 07.31.2012 | Business

Good news, Scranton firefighters: You will once again be making more than the fry cook at your local McDonald's. The city of Scranton, Pennsylvania...

More Troubled Cities Using This Financial Twist To Avoid Ruin

AP | AMY TAXIN and HANNAH DREIER | Posted 07.30.2012 | Los Angeles

STANTON, Calif. -- There's a new twist emerging as some of California's most financially troubled cities look for ways out of their predicaments: They...

Zach Carter

VIDEO DISCUSSION: New Trend Puts America On Sale

HuffingtonPost.com | Zach Carter | Posted 07.06.2012 | Business

With cities across America on the verge of financial ruin, local governments face two decisions. Like Stockton, California, they can file for bankrupt...

Bankrupt Town's City Manager: Retirement Benefits A 'Ponzi Scheme'

Reuters | Posted 09.03.2012 | Business

* City manager: Retirees' healthcare "a Ponzi scheme" * Police officers can retire at 50 years old with pension ...

It's Official: Stockton Files For Bankruptcy

Reuters | Posted 08.28.2012 | Business

By Jim Christie SAN FRANCISCO, June 28 (Reuters) - Stockton, California, became the largest city to file for bankruptc...

Weak Local Governments May Want To Think Twice Before Filing For Bankruptcy

Reuters | Posted 08.28.2012 | Business

(Repeats analysis story initially published late on Wednesday) * Stockton, California, bankruptcy filing expected by Friday ...

California City To Become Largest U.S. City To Declare Bankruptcy

AP | GOSIA WOZNIACKA | Posted 08.27.2012 | San Francisco

STOCKTON, Calif. — Officials in Stockton said Tuesday that mediation with creditors has failed, meaning the Central California city is set to be...

CHAPTER 9: Stockton Appears Headed For Bankruptcy

AP | Posted 08.26.2012 | San Francisco

By GOSIA WOZNIACKA, Associated Press FRESNO, Calif. (AP) -- Stockton could become the largest U.S. city to declare bankruptcy after a deadline to m...

THE FINAL HOUR: Stockton Faces Crucial Decision

AP | GOSIA WOZNIACKA | Posted 06.25.2012 | San Francisco

FRESNO, Calif. -- Stockton, the California city with the nation's second-highest foreclosure rate, is facing a moment of decision on whether to become...

East Bay City Prepares For Bankruptcy

AP | Posted 08.06.2012 | San Francisco

STOCKTON, Calif. -- A California city that has the second-highest foreclosure rate in the nation is preparing for a possible bankruptcy filing if offi...

This Town Just Lost Its City Hall To Wells Fargo

The Huffington Post | Posted 06.04.2012 | Business

How bad are things in Stockton, California? So bad that Wells Fargo just seized the building that was supposed to be the town's City Hall. Stockton...

Why Did Oprah Give $10,000 To A 21-Year Old Stockton Politician?

Aaron Sankin | Posted 05.21.2012 | San Francisco

Forbes may not consider her the most powerful celebrity on the planet (that honor was recently bestowed to Jennifer Lopez), but whenever Oprah Winfrey...

John Rudolf

Largest U.S. City Bankruptcy Heading Toward Court

HuffingtonPost.com | John Rudolf | Posted 02.29.2012 | Business

Stockton, Calif., took a major step toward becoming the largest U.S. city ever to file for bankruptcy with a city council vote to begin a state-mandat...

Local City Facing Bankruptcy: Would Be Biggest City To Declare In American History

Aaron Sankin | Posted 02.23.2012 | San Francisco

The Central Valley city of Stockton of may become the next California municipality to follow in the steps of Vallejo and Orange County and file for ba...