Comments on: City of Vallejo Files Bankruptcy http://www.firegeezer.com/2008/05/07/city-of-vallejo-files-bankruptcy/ Hottest Fire Blog On The Web Thu, 08 Jan 2009 08:55:52 +0000 http://wordpress.org/?v=2.7 hourly 1 By: Roy http://www.firegeezer.com/2008/05/07/city-of-vallejo-files-bankruptcy/comment-page-1/#comment-15344 Roy Wed, 07 May 2008 19:03:30 +0000 http://firegeezer.com/2008/05/07/city-of-vallejo-files-bankruptcy/#comment-15344 My bet is that the city aims directly at the cops and starts some kind of downsizing operation. If you start talking of downsizing, announce these one by one...then more folks get scared and automatically start looking for employment elsewhere (a common tactic in the business world). You don't fill the slots and just leave them empty. Lets face it...most folks don't think the cops are going to protect or save them...so they carry a weapon. If a town has 50 cops....they could probably trim fifteen and no one would notice. My bet is that the city aims directly at the cops and starts some kind of downsizing operation. If you start talking of downsizing, announce these one by one…then more folks get scared and automatically start looking for employment elsewhere (a common tactic in the business world). You don’t fill the slots and just leave them empty.

Lets face it…most folks don’t think the cops are going to protect or save them…so they carry a weapon. If a town has 50 cops….they could probably trim fifteen and no one would notice.

]]> By: Dal90 http://www.firegeezer.com/2008/05/07/city-of-vallejo-files-bankruptcy/comment-page-1/#comment-15343 Dal90 Wed, 07 May 2008 19:02:19 +0000 http://firegeezer.com/2008/05/07/city-of-vallejo-files-bankruptcy/#comment-15343 Municipal bankruptcies are playing with fire -- we all benefit from relatively low costs associated with municipal bonds. Increase the risks of cities defaulting, borrowing at least statewide if not nationwide will go up. These situations generally come from long term and/or spectacular financial mismanagement. Bridgeport, CT flirted with in the early 1990s -- something the state immediately said they may do. Waterbury, CT was placed a Financial Oversight Board in the 2000s. Both of those because the State of Connecticut wasn't going to allow other towns to be at risk of higher borrowing because of those cities. The Oversight board had broad powers including to vacate any existing labor contracts and impose new contracts without arbitration. In Waterbury's case the firefighters were given the choice -- they could keep minimum manning, or four platoon system customary in the northeast, but not both. They switched to a three platoon system to maintain minimum manning. Hourly wages were adjusted, and while the take-home pay increased it was not proportional to the 25% increase in hours worked. Municipal bankruptcies are playing with fire — we all benefit from relatively low costs associated with municipal bonds. Increase the risks of cities defaulting, borrowing at least statewide if not nationwide will go up.

These situations generally come from long term and/or spectacular financial mismanagement.

Bridgeport, CT flirted with in the early 1990s — something the state immediately said they may do. Waterbury, CT was placed a Financial Oversight Board in the 2000s.

Both of those because the State of Connecticut wasn’t going to allow other towns to be at risk of higher borrowing because of those cities.

The Oversight board had broad powers including to vacate any existing labor contracts and impose new contracts without arbitration. In Waterbury’s case the firefighters were given the choice — they could keep minimum manning, or four platoon system customary in the northeast, but not both. They switched to a three platoon system to maintain minimum manning. Hourly wages were adjusted, and while the take-home pay increased it was not proportional to the 25% increase in hours worked.

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