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L.A. budget crisis threatens jobs, credit rating(union refuses 5% pay cut)
Reuters ^ | 02/14/10 | Steve Gorman

Posted on 02/15/2010 9:33:32 AM PST by TigerLikesRooster

L.A. budget crisis threatens jobs, credit rating

Steve Gorman

LOS ANGELES

Sun Feb 14, 2010 3:16pm EST

Downtown Los Angeles is seen from behind a row of trees in East Los Angeles January 18, 2008. REUTERS/Lucy Nicholson

Downtown Los Angeles is seen from behind a row of trees in East Los Angeles January 18, 2008.

Credit: Reuters/Lucy Nicholson

LOS ANGELES (Reuters) - Los Angeles, the second-largest city in the United States, is confronting a mounting budget deficit that threatens to force thousands of job cuts, deplete its fiscal reserve and further damage its credit rating.

/snip

LAYOFFS OR PAY CUTS?

The crisis has put Villaraigosa, a former labor activist, squarely at odds with unions that represent 98 percent of L.A.'s municipal work force, which in turn accounts for 80 percent of the city budget.

/snip

He also has suggested that large layoffs could be avoided if the unions were willing to accept pay cuts.

"If everybody took a 5 percent cut, it would add $150 million to the general fund," the mayor said on Thursday at an event sponsored by the local business leaders.

Union officials have bristled at those proposals.

(Excerpt) Read more at reuters.com ...


TOPICS: Business/Economy; Government; News/Current Events; US: California
KEYWORDS: budget; la; layoff; paycut
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LA has its pants on fire, but refuses to take them off.
1 posted on 02/15/2010 9:33:32 AM PST by TigerLikesRooster
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To: TigerLikesRooster; PAR35; AndyJackson; Thane_Banquo; nicksaunt; MadLibDisease; happygrl; ...

P!


2 posted on 02/15/2010 9:33:58 AM PST by TigerLikesRooster (LUV DIC -- L,U,V-shaped recession, Depression, Inflation, Collapse)
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To: TigerLikesRooster

Fire all of them and start from scratch.


3 posted on 02/15/2010 9:34:26 AM PST by Nachum (The complete Obama list at www.nachumlist.com)
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To: TigerLikesRooster

This is what TARP was really about. Spreading money around to insure union govt employees got no cust also tons when to school districts. It is all about protecting their golden goose as a protected class.


4 posted on 02/15/2010 9:35:51 AM PST by Frantzie (TV - sending Americans towards Islamic serfdom - Cancel TV service NOW)
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To: TigerLikesRooster

I love seeing LA and in general CA crashing and burning; it is going to take something dramatic to force the needed reforms.


5 posted on 02/15/2010 9:36:35 AM PST by C19fan
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To: TigerLikesRooster
I would dissolve the union, throw its leaders in jail, and give everyone a 25% pay cut for pissing me off.
6 posted on 02/15/2010 9:37:00 AM PST by TexasFreeper2009 (November is coming.)
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To: TigerLikesRooster

What’s really bizarre in all this, is that the mayor Tony Villar is a flaming reconquista leftist, stuck between his desire for higher office, and this mess.

He has to balance the budget. Now his own comrades, are pushing back.

The irony.


7 posted on 02/15/2010 9:39:02 AM PST by Cringing Negativism Network (2012: Repeal it all... All of it!)
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To: C19fan

Agree on the crash and burn thing.

Sure seems that way from inside the state.


8 posted on 02/15/2010 9:40:02 AM PST by Cringing Negativism Network (2012: Repeal it all... All of it!)
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To: TigerLikesRooster

This is easy. LA should double the number of layoffs and ask the Unions....”How do you like that?”


9 posted on 02/15/2010 9:42:34 AM PST by RC2
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To: TigerLikesRooster

Firing 10% using a lottery, instead of senority, might make the uncharitable a$$holes more amenable to a pay cut.


10 posted on 02/15/2010 9:44:24 AM PST by zek157
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To: TigerLikesRooster
The unions would prefer to see their members laid off than take a paycut to keep every one working. In the private sector, they ARE being laid off or shown the door.

"Show me just what Mohammed brought that was new, and there you will find only things evil and inhuman, such as his command to spread by the sword the faith he preached." - Manuel II Palelogus

11 posted on 02/15/2010 9:45:41 AM PST by goldstategop (In Memory Of A Dearly Beloved Friend Who Lives In My Heart Forever)
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To: TigerLikesRooster

CA is going down in flames. While there is certainly more than one reason why this is happening it is interesting/ironic/sad to watch how in spite of the destruction being wrought immigration is never listed as causal in the least.

We have become one of the most delusional nations in history and we & our posterity will pay the piper for our ignorance/deceitfulness.


12 posted on 02/15/2010 9:47:37 AM PST by Altura Ct.
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To: TigerLikesRooster

I keep saying, the solution is right in front of them:

spend more money!


13 posted on 02/15/2010 9:51:20 AM PST by lurk
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To: goldstategop

Government unions are the worst, and their members are worse than welfare collectors that receive their benefits....from government!


14 posted on 02/15/2010 9:51:43 AM PST by dragnet2
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To: Altura Ct.
CA is going down in flames

You're in Virginia?

Like California's corrupt state government, Virgina is no different...

Officials call Virginia budget situation 'dire'

http://www.businessweek.com/ap/financialnews/D9DGB1684.htm

See what I mean....Except, unlike you, I don't blame all the people.

We have become one of the most delusional nations in history and we & our posterity will pay the piper for our ignorance/deceitfulness.

The people here tried to do something about it back in 1994 with prop 187 among other measures, only to have the corrupt state government, working in concert with their federal government co-conspirators, burned our ballot and declared our free election illegal.

This is what happens when our system becomes compromised and undermined, including our electoral process, due to massive government corruption...

Some of us remember the past.

15 posted on 02/15/2010 10:03:02 AM PST by dragnet2
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To: TigerLikesRooster

Finally the chance for Revenge against the fat lady at the Driver Liscense Office.


16 posted on 02/15/2010 10:04:33 AM PST by screaminsunshine
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To: TigerLikesRooster

First of all, LA wasn’t really “laying off” all that many. Most were being moved to other agencies within county government and some were being offered early retirement or similar types of acconting gimmicks to move the costs from one budget to others.

Another shell game.

Second, the unions won’t give anything unless they’re going to get something in return. They’ll get something that for now looks ok to the taxpayer.

Ten years later the dam will burst and there will be even bigger problems becuase the unions were promised something by a mayor who is a worthless pos who will be long gone by then and someone else is left to clean up the mess.

As a resident of CA, I want the state to go bankrupt for the sole purpose of forcing the courts to do something about those union contracts that have a stranglehold on the state (not that I’m that optimistic). But I believe many CA voters will get a wake up call and maybe something can be done about Sacramento.


17 posted on 02/15/2010 10:14:13 AM PST by SZonian (I see people who claim they are victims of "hatred", Alinsky's tactics are alive and well on FR.)
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To: screaminsunshine
Exactly...

What some of these people here have totally lost sight of, is this is a corrupt government crumbling...

Like the federal government, did they think it would improve? Get smaller? Become less intrusive and less controlling? lol....

No....Government at all level needs to implode...I want their government unions being attacked by their own government employees.....

We want government in chaos, we want government on their knees....

We want We want much less government...

This was left out of the headline/thread above.

"The last time we saw this kind of drop in revenue was the Great Depression," Miguel Santana, the city's chief financial officer, told Reuters. "It speaks to how severe this budget crisis is."

So sorry Mr. Miguel Santana....LOL!

Ya see, we want that city in chaos....We want thousands of these bloated corrupt city workers to be eliminated...

As one corrupt politician once said:

Bring it on!

18 posted on 02/15/2010 10:14:43 AM PST by dragnet2
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To: SZonian
As a resident of CA, I want the state to go bankrupt

Yes....Someone gets it!!!!

See #18.....lol

19 posted on 02/15/2010 10:16:15 AM PST by dragnet2
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To: SZonian
Ya see, the headline of this thread is very deceptive, with people coming on here blindly barking, "This is bad, "the state is on fire", "California is dying" bla, bla.... They read this:

L.A. budget crisis threatens jobs, credit rating(union refuses 5% pay cut

When the title should be:

"Government budget crises threatens *government* jobs"

Government hammered the private sector, now through governments own actions, the bloated corrupt government is imploding and going broke...

A good thing...lol

20 posted on 02/15/2010 10:25:26 AM PST by dragnet2
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