Californian city to file for Bankruptcy
Discussion
So this is what happens on a micro scale when you spend during a bubble rather than save. Some pretty eye watering cut backs "They eliminated one-fourth of the city's police officers, one-third of the fire staff, and 40% of all other employees. They also cut wages and medical benefits." and it still wasn't enough.
http://www.bbc.co.uk/news/world-us-canada-18605326
ETA: Yes, that should be Californian.
http://www.bbc.co.uk/news/world-us-canada-18605326
ETA: Yes, that should be Californian.
Edited by London424 on Wednesday 27th June 10:16
That is a microcasm of what happens when the ultra-left social model is followed. One must understand that a retired firefighter there gets $157,000/year in pension. Police, etc. about the same. That is very much out of the norm. That, along with businesses relocating to neighboring states to avoid the draconian taxes, has caused a downward spiral. The city had tried to negotiate the public sector pensions down to a reasonable rate but were shut down by the unions. Now, banckruptcy may leave many of them with no pension at all. I see this as a wakeup call to unions in other Cali. cities to compromise or face a similar fate.
Jimbeaux said:
That is a microcasm of what happens when the ultra-left social model is followed. One must understand that a retired firefighter there gets $157,000/year in pension. Police, etc. about the same. That is very much out of the norm. That, along with businesses relocating to neighboring states to avoid the draconian taxes, has caused a downward spiral. The city had tried to negotiate the public sector pensions down to a reasonable rate but were shut down by the unions. Now, banckruptcy may leave many of them with no pension at all. I see this as a wakeup call to unions in other Cali. cities to compromise or face a similar fate.
Fecks me $157k pa pension that seems a hell of a lot . To try to convert it to the UK; whats the salary for your plod and whats the average working salary/pension for others.HarryW said:
Fecks me $157k pa pension that seems a hell of a lot . To try to convert it to the UK; whats the salary for your plod and whats the average working salary/pension for others.
GP's must be paid like footballers out there? Of course their 20% contribution from salary means they deserve every cent of it. [sarcasm off]HarryW said:
Jimbeaux said:
That is a microcasm of what happens when the ultra-left social model is followed. One must understand that a retired firefighter there gets $157,000/year in pension. Police, etc. about the same. That is very much out of the norm. That, along with businesses relocating to neighboring states to avoid the draconian taxes, has caused a downward spiral. The city had tried to negotiate the public sector pensions down to a reasonable rate but were shut down by the unions. Now, banckruptcy may leave many of them with no pension at all. I see this as a wakeup call to unions in other Cali. cities to compromise or face a similar fate.
Fecks me $157k pa pension that seems a hell of a lot . To try to convert it to the UK; whats the salary for your plod and whats the average working salary/pension for others.Jimbeaux said:
That is a microcasm of what happens when the ultra-left social model is followed. One must understand that a retired firefighter there gets $157,000/year in pension. Police, etc. about the same. That is very much out of the norm. That, along with businesses relocating to neighboring states to avoid the draconian taxes, has caused a downward spiral. The city had tried to negotiate the public sector pensions down to a reasonable rate but were shut down by the unions. Now, banckruptcy may leave many of them with no pension at all. I see this as a wakeup call to unions in other Cali. cities to compromise or face a similar fate.
Hi JimbeauxCan you link to any data for US public service pensions? Where did your $157k figure come from?
Paddy_N_Murphy said:
Jimbeaux said:
I see this as a wakeup call to unions in other Cali. cities to compromise or face a similar fate.
Sadly, I very very much doubt it. The same sentiment I have if this was on our side of the pond.I simply can not imagine the Unions unblinkering to solve the larger scale when concentrated solely on the individual scale(s)
Not a fan of unions.
TheHeretic said:
Paddy_N_Murphy said:
Jimbeaux said:
I see this as a wakeup call to unions in other Cali. cities to compromise or face a similar fate.
Sadly, I very very much doubt it. The same sentiment I have if this was on our side of the pond.I simply can not imagine the Unions unblinkering to solve the larger scale when concentrated solely on the individual scale(s)
Not a fan of unions.
johnfm said:
Jimbeaux said:
That is a microcasm of what happens when the ultra-left social model is followed. One must understand that a retired firefighter there gets $157,000/year in pension. Police, etc. about the same. That is very much out of the norm. That, along with businesses relocating to neighboring states to avoid the draconian taxes, has caused a downward spiral. The city had tried to negotiate the public sector pensions down to a reasonable rate but were shut down by the unions. Now, banckruptcy may leave many of them with no pension at all. I see this as a wakeup call to unions in other Cali. cities to compromise or face a similar fate.
Hi JimbeauxCan you link to any data for US public service pensions? Where did your $157k figure come from?
http://www.bloomberg.com/news/2012-03-01/stockton-...
http://database.californiapensionreform.com/
fido said:
HarryW said:
Fecks me $157k pa pension that seems a hell of a lot . To try to convert it to the UK; whats the salary for your plod and whats the average working salary/pension for others.
GP's must be paid like footballers out there? Of course their 20% contribution from salary means they deserve every cent of it. [sarcasm off]Medical specialists are often on stratospheric incomes, i.e $400-$500k for surgeons. Much higher for the best ones
Elroy Blue said:
That's not typical in the US. A good friend of mine is a Captain of a Police Dept in the US and earns $62k a year. The patrol Officers earn $35k.
Found the link, but yes, I'm sure San Francisco is a lot more expensive to live than say Dallas, or many small towns.http://www.sf-police.org/index.aspx?page=1655
thehawk said:
Found the link, but yes, I'm sure San Francisco is a lot more expensive to live than say Dallas, or many small towns.
http://www.sf-police.org/index.aspx?page=1655
Bloody hell.http://www.sf-police.org/index.aspx?page=1655
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