Vallejo vows to keep services afloat during bankruptcy proceedings

Source: Vallejo Times-Herald

Article Launched: 05/07/2008 10:42:53 PM PDT

VALLEJO — In the wake of Vallejo's historic bankruptcy decision, city officials Wednesday assured residents that municipal services will continue uninterrupted and that a move to court will begin immediately ..

Mayor Osby Davis pledged Tuesday night to look at restructuring city government operations. He said that residents will be asked to approve tax increases and other revenue enhancements ...

Meanwhile, bankruptcy attorneys and public pension watchdog groups predicted that cities hit by the housing mortgage crisis and weak revenues will closely watch Vallejo's entrance into uncharted waters ...

Employee wages will be frozen at current levels, and 6 percent salary rollbacks that unions agreed to in March could be restored ...

http://www.mercurynews.com/breakingnews/ci_9188858

Read more: http://www.mercurynews.com/breakingnews/ci_9188858

Vallejo has never been the same since. It seems the local economy has been addicted to Navy money since WWII and could not recover from the loss.

There is hope however. The Navy is looking to build Littoral Combat Ships, and neither General Dynamics nor Lockheed Martin will bid on the contract. If the Navy would reopen the ship yards to build the LCS ...

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=259x14449


If I'm reading the tea leaves correctly, two of these $600,000,000 monstrosities are all we'll see for a while.