June 26, 2012 archive

City of Stockton is the Largest U.S. City to File for Bankruptcy?


From the City of Stockton

Apparently, Stockton will file today or shortly thereafter.

Stockton, California was poised on Tuesday to take a major step toward becoming the largest U.S. city ever to file for bankruptcy after talks with its creditors on Monday at midnight.

Negotiations aimed at averting bankruptcy may press on informally, the city’s spokeswoman said, adding that city officials would next discuss any moves toward bankruptcy at the city council meeting on Tuesday evening.

The council’s main order of business will be taking up and voting on a proposed budget to guide Stockton during bankruptcy, an option city officials have been considering since February.

City Manager Bob Deis, who the council has authorized to file for Chapter 9 bankruptcy, last week unveiled the budget proposal, also known as a pendency plan.

The plan assumed Stockton, a city of 292,000 people about 85 miles (about 135 km) east of San Francisco, would fail to win concessions from its 18 creditors to close its $26 million shortfall for the fiscal year beginning on July 1.

The California economy remains sick and voters are paying for the housing bubble bust and largess to Public Employee Unions who dominate the California Legislature.

Sooner or later Californians will insist on real government reform and budget restraint.

Some day…..


AD-48: Is Roger Hernandez Safe for Assembly Re-Election?


The answer to the question is NO.

Let’s look at the final June Presidential Primary electon numbers.

However, over the weekend, I got an e-mail from Mike Meza, who is the Democrat who ran for AD48 in the primary. That’s the seat in which Roger Hernandez is running for a third and final term. In the email, Meza endorses Republican Joe Gardner and writes:

“I have come to the conclusion that Hernandez is narcissistic, deceptive and has been, and continues to be, unqualified for the position he currently holds.”


Here are the pretty-much-final June results:

  • Gardner (R): 15,028
  • Hernandez (D): 14,323
  • Meza (D): 3,622

With Assemblyman Hernandez standing trial on August the 7th for his alleged drunken driving, it is likely that this negative PR will extend into the November election cycle. If the judge throws the book at Hernandez, then really watch out.

Hernandez represents a very Latino and very Democratic District. However, he is running against a Republican who spent less than a $1,000 in the June race and who is a retired cop.

I think it is safe to say that the GOP will pick up this seat.

Democrat POLS are already jocking for position to challenge for the seat in 2014.


Flap’s California Blog @ Flap Twitter Updates for 2012-06-26


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