Posted on 05/08/2008 10:14:10 AM PDT by John Jorsett
Vallejo has become the first city of its size in California to seek bankruptcy protection.
The decision to file for bankruptcy came in a unanimous vote by the city council Tuesday night as hundreds of residents watched.
The dramatic vote came despite a last-minute appeal by state Sen. Pat Wiggins, D-Santa Rosa, and an aide for Assemblywoman Noreen Evans for the city to avoid bankruptcy.
Mayor Osby Davis said he had "turned over every rock he could find to find a solution" but none came and there is no longer an ability for the city to pay its debts.
Vallejo has been slammed by increasing costs of its public safety contracts, the housing crisis and lower property values.
The city faces a $16 million deficit in the 2008-09 fiscal year that starts July 1. Tuesday night's vote came after months of fruitless talks between city and labor representatives.
Chapter 9 bankruptcy will allow Vallejo to gain temporary protection from creditors and enable the city to continue to offer citizens necessary services.
The bankruptcy process will cost $750,000 to $2 million just in legal fees, city officials said.
Vallejo bankruptcy attorneys had recommended the city approve any bankruptcy filing at least a month before city coffers run dry, which could happen as early as June 30.
(Excerpt) Read more at mercurynews.com ...
Really! I knew firemen who had to take a second job to make ends meet. That’s just grift off-the-wall.
I agree they should compensated fairly but $200,000?!?!?!
http://agency.governmentjobs.com/vallejo/default.cfm?SearchLetter=F&action=agencyspecs&AgencyID=1108
That is the City of Vallejo’s HR page which lists salaries of firefighters. Looks like they actually make about $81k a yr base salary. The newspapers in California are famous for taking the top income earners in a department and posting it as if it is a regular salary, it is not. Most of the top incomes are made via overtime. Hubby is a retired firefighter and used to make tons of OT money. Of course he was gone from home for mnths at a time. The papers never mention it though.
See post #23.
Break out the speed traps!
It's even worse than that. See: City of Vallejo, Salaries above $100,000/yr. ML/NJ
In our small town, much of the budget goes to policemen and firemen, too. These are essential services of a city, and imho they top the list. Vallejo probably does not generate huge revenues, altho it might? Isn’t it up by the Port and Suisun Bay? And more of a blue collar community?
Santa Rosa is another liberal city that has awarded firemen 80-100 % retirement of their anual wage. Tom McClintock has been warning of this for years. His warning is that the baby boomers will be retiring from city and state jobs with these rediculous retirement packages and no money in the till to pay them.
Uhm...you better sit down...they make that much money and only work...11-14 days a month..yep.
That should put a cloud on real estate titles. Residents owning real estate within the city limits must be overjoyed.
The salaries alone are pretty ridiculous, but it’s the retirement packages that are the real kicker. These things are better than just about anything you could get in the private sector. The equivalent salary a private-sector employee would have to make just to save an equal amount for retirement would be crazy. Easily over $100K for most employees.
I thought that in California, your assessment was fixed by the year you bought your house (Prop 13) + 2% per year. So if you bought a house in 1978, it would be assessed at 1978 levels, plus 2% per year. But the identical house next door that sold in 2006 would be assessed at 2006 prices.
Most people live in a house only about five years. Most of the people purchasing houses in 1978 have probably moved on. Very few Californians stay in a community twenty years. Look it up yourself. How many people who bought houses since 2000 have had to deal with increased property taxes ___________ ? Real estate values have gone down about 40% ++++ since 2005. Tax assessments do not go down automatically. Appeals must be filed when properties are over-valued by the county.
I don't want to know how much for so-called "education" and welfare, and future unfunded obligations (retirement).
You don't get out much, do you.
The nature of firefighting changed radically and permanently around the mid-60s. Their salary should have been inmmediately cut in half.
Pretty much they are... I live here and I’ve long been appalled at the utter mismanagement that goes on. Especially since the Navy Yard at Mare Island closed. This was a one-industry town with no provision for such an eventuality, though I used to tell anyone interested that Mare Island could be shut down and then this town would die. Sad to say, I was right.
Thank you very much for the demographical information....
That's low!
That is the same information i have.
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