West Coast Enterprise Editor
Peter's Feed
Aug 13, 2012
Aug 1, 2012

Assured says Stockton bankruptcy plan unfair, favors Calpers

SAN FRANCISCO, Aug 1 (Reuters) – Bond insurer Assured
Guaranty, facing massive losses in Stockton,
California’s bankruptcy, on Wednesday said the largest U.S.
public pension fund, Calpers, was getting preferential treatment
among creditors.

That may set the stage for a fight over whether cities in
dire circumstances legally have the ability to change
obligations under pension plan benefits agreed to in much better
times. Calpers, the California Public Employees’ Retirement
System, so far has said that the cities don’t have that ability.

Jul 27, 2012
Jul 27, 2012
Jul 27, 2012

Analysis: California’s Governor Brown bets on thinking big

SAN FRANCISCO (Reuters) – California may be struggling to make ends meet, but Governor Jerry Brown is still thinking big.

The 74-year-old governor is championing major public works projects, including a statewide bullet train network and giant tunnels for delivering fresh water, even as he tries to convince voters to approve a tax increase in the fall.

Jul 25, 2012

Near-bankrupt San Bernardino votes to suspend debt payments

SAN BERNARDINO, California (Reuters) – San Bernardino, the third California city planning to file for bankruptcy since June, voted to stop debt payments, freeze vacant jobs and quit paying into a retiree health fund under a three-month emergency proposal submitted to the city council on Tuesday.

The city is preparing a longer-term plan to make it through its expected bankruptcy period, when it will financially regroup under court protection from a financial hole created by a combination of the bad economy and poor management.

Jul 24, 2012

San Bernardino short-term proposal: suspend debt payments

SAN FRANCISCO (Reuters) – San Bernardino, California, which is planning to file for bankruptcy, would suspend payments on pension obligation bonds and other debt under a three-month proposal to be submitted to the city council on Tuesday.

A package of materials on the city council’s website included the plan for July-September of this year.

Jul 21, 2012

Stockton made scant headway in U.S. pre-bankruptcy talks

SAN FRANCISCO, July 20 (Reuters) – Stockton, California, the
largest U.S. city to file for bankruptcy, never came close to
striking deals with key creditors in talks before it sought
court protection, the city disclosed on Friday in documents
illustrating its stark choices.

The city’s bond insurers snubbed proposals from managers of
the city of nearly 300,000 in California’s Central Valley, where
crime and unemployment have soared as the housing market fell.
Retired city employees and fire and police unions over three
months made some headway, but in the end the only tentative
deals were with six other unions.

Jun 22, 2012
Jun 14, 2012
    • About Peter

      "Peter Henderson has worked for Reuters for more than a decade, covering the collapse of the Russian economy in the 1990s, media in Los Angeles and politics in San Francisco. He is West Coast Enterprise Editor, focusing on reporting and editing in-depth stories."
    • More from Peter

    • Contact Peter

    • Follow Peter