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Vallejo to Emerge from Bankruptcy -- Bruised
I did not look up the Valleo income stats, I was going off what I recalled during the BK debates, and what I recalled was the average ff and cop comping $220-$240K in base, and $300K with OT, and people saying that $300K was 10 times the median (or mean??) income in Vallejo.........of course the Sgt, Lt and Captain were all making close to $300k in BASE salary alone as I recalled from a few years ago. Whatever the numbers were, the spread bewteen the people wholived in Vallejo and the Vallejo FD/PD was tremendous.— May 6, 2011 9:04 a.m.
U.S. Jobs Rise Sharply but Unemployment Rate Up
Depends on the jobs being created. McDonalds just hired 62K new employees, they has over 1 MILLION!! applications. There is nothing wrong with ANY job, including McD's,but I would suggest thsoe jobs are mostly part time, pay minimal wages, probably offer little or most likely no benefits, and are not the kind of jobs that can sustain a middle class lifestyle or strong economic growth. Furtheremore, by using a U-3 UE rate which is bogus and masks the true bonafide UE rate, the stat is meaningless.— May 6, 2011 8:42 a.m.
Vallejo to Emerge from Bankruptcy -- Bruised
Prediction: Vallejo will be BK again within seven years. ============= Since their public safety compensation demons were not slayed, it is guaranteed they will be in BK court again. The problme is this, a current city council can bind all future city councils for literally decades down the road by giving increased pensions or indemnifing the unions from legal or other costs, that should not be allowed.— May 5, 2011 10:06 p.m.
Vallejo to Emerge from Bankruptcy -- Bruised
The commentary above would make me conclude that Vallejo didn't do much to solve its out-of-control costs, and that it will be soon back in a fix ============ Exactly! They are going to be right back in BK, their BK case did not address their cash flow problems-huge public safety giveaways- and were not properly renegotiated. And if they file BK again they have AGREED to indemnify the PD for ALL legal costs in a new BK case. That makes NO SENSE at all, except as a quid pro quo pay off. This is why public unions cannot collective bargaining with elected officials they bribe them. There is NO bargaining in collective bargaining in public employment. All one sided deals. And like I said, it is a POOR city, average salary is around $30K.— May 5, 2011 10:02 p.m.
Rural/Metro: Secret Memos, Campaign Donations, and An Alleged $5.8 Million Excess Withdrawal
Wow, why not get the DA to file charges???? Oh, these people are connected. My bad.— May 5, 2011 6:54 p.m.
Bridgepoint Stock Leaps on Huge Profit Gain
What you ably describe -- a revolving door in which the regulators get jobs with those they regulate -- is a sorry phenomenon that is pervasive in U.S. government. The SEC is a classic example: the big Wall Street law firms control the SEC through the revolving door system. ============ The practice should be banned, bit won't, too much $$$ greasing the system. No employment for 5 years in an industry you regulated once you leave high a level gov regulator position/s.— May 5, 2011 4:44 p.m.
Vallejo to Emerge from Bankruptcy -- Bruised
Oh brother, JW is citing the old Contracts Clause, now you know we are in an alternate universe. BK courts have the power to completely wipe out contracts and their liabilities-or did JW sleep thru the Title 11 of the United States Code lectures in his Contracts Clause class???????? BTW-the Contracts Clause can mean whatever a judge wants it to mean, ot is like a rubber band that can be strectched into anythinbg a federal judges wantes to shape it into.— May 5, 2011 4:40 p.m.
Vallejo to Emerge from Bankruptcy -- Bruised
Since they couldn't reduce the pensions, why didn't they say that the pensions are so out of line, we want to pay $0 in retiree health care premiums and drop coverage for spouses? =================== What makes you think they couldn't have reduced pensions??? They didn't even try. If they would have tried they would have had them reduced, there can be no doubt about that. I followed the Vallejo Bk closely, and the council there has a public employee majority, which is why they did not go after pensions, and why they indemnified the PD from any future litigation (who the hell does something like that in the real world, made no sense at all except stright up corruption- a clean give away to the police union), and why they continued to give away the farm to the PD and FD in raises even while they were in BK court. The BK filing was a stoopid move because the council was NOT willing to put the screws to the PD and FD and extract serious concessions, which is the power position the City was in when they filed BK. Why file BK if you're not going to make use of the power it gives???? Remember, this is a city where the median income is $30K and the average ff is comping $220K before overtime. $260K with overtime.— May 5, 2011 4:35 p.m.
The Hit Man I Can't Forget
P.S. You guys got the G-rated version. I left out the orgies and wife swapping. He he he. =============== tease.— May 5, 2011 7:38 a.m.
Bridgepoint Stock Leaps on Huge Profit Gain
The Republicans, who boast that they will do something about deficits, want to let these for-profit universities off the hook, even as the student loan debacle escalates and escalates, greatly worsening the nation's financial situation ====================== I think I have mentioned I was involved in a major student loan case, that included suing the Secretary of Education Under Bush-Margaret Spelling-the entire DoE under Bush, and even under Obama, is nothing more than a revolving door between the regulators and the ones they regulate-writing their own rules. It is gigantic cabal of profit for student loan scammers like Sallie Mae, NelNet, the Bridgepoints and tons of other "educational" schools-both for profit and non profit. The so called non-profits would make your head spin at some of the compensation and spending practices. The default rate is over 50% at MANY HBCU's, and over 30%-40% in ALL schools when using a total (all loans over entire repayment period) default rate. A large % of student loans made for law schools will never be paid back, ever. The jobs are non existant (yet the ABA keeps approving new law schools) and the average pay rate is in the $40K range for a 60 hour work week (if you can find a job) with no benefits. The average debt is $100K+. In fact here is a GREAT story about education and gov jobs that came out a few days ago; "California Prison Academy: Better Than a Harvard Degree" Prison guards can retire at the age of 55 and earn 85% of their final year's salary for the rest of their lives. They also continue to receive medical benefits. . http://online.wsj.com/article/SB10001424052748704… .— May 5, 2011 7:32 a.m.