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Bankrupt San Bernardino picks twice bankrupt manager


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2013 Feb 22, 3:04am   2,508 views  4 comments

by Ceffer   ➕follow (5)   💰tip   ignore  

http://www.reuters.com/article/2013/02/22/us-usa-debt-sanbernardino-idUSBRE91L0UO20130222

Reuters) - The bankrupt city of San Bernardino has hired a new city manager who, according to court filings, has twice declared personal bankruptcy and was recently ousted from the board of a small community's water company after being sued by shareholders.

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1   Ceffer   2013 Feb 22, 3:05am  

Must be some serious shenanigans that they have to recruit and shoe horn in a seasoned civic sociopath.

2   socal2   2013 Feb 22, 3:23am  

I was reading that the previous City manager and the treasurer(?) just left and the Mayor has no one else left in the City to figure out the budget. Who the hell would want that job now anyway?

The interesting thing is that San Bernardino stopped paying into the CALPERS pension fund while they sort out the bankruptcy proceedings. CALPERS sued San Bernardino saying they should get their payments before anyone else, but a judge has temporarily sided with San Bernardino.

All the while Stockton in Northern California continued to pay CALPERS but is not paying many other creditors as they deal with their bankruptcy. Stockton had to pull a multi-million dollar bond to pay back-payments to their pension fund a few years ago. I thought Muni-bonds should be used to invest in capital projects that will bring more commerce to a City?

Who in their right mind would invest in California Muni-bonds in the future when they will get shafted so the City can continue paying off their union constituency?

I would hope most agree here that many California cities don't have a prayer of getting their finances in order if we don't reform the ridiculous pension system.

Anyway, how Stockton and San Bernardino sort through their bankruptcies could single the direction for future municipalities in California.

3   Ceffer   2013 Feb 22, 3:32am  

Since this was a guy who was already caught shredding, my thought was they are paying him to misdirect and cover up, obviously to avoid prosecutions based on misconduct.

Maybe the time has come for outside receivers.

4   FortWayne   2013 Feb 22, 3:37am  

That's coming to LA now. They are trying to spend more money on the unions than they have. I hear Wendy Gruel took a lot of bribe money from these groups.

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