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Unformatted text preview: negotiate with unions and debtors for 90 days before declaring Chapter 9 bankruptcy. OPINION: It looks to be the inevitable that Stockton California will declare bankruptcy, but I think city officials/management brought the city to this position. Even though the economy is bad, and mostly to blame for the foreclosures, I think the city should have been more cautious and conservative about expanding and refurbishing during such economic times. More importantly, they should have been cutting back the budget for refurbishing, not positions for police and firemen. Like many critics pointed out in the article, this is just a case of bad management. A high risk gamble, during bad economic times will probably lead to the largest city to declare bankruptcy the nation has ever seen....
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This note was uploaded on 04/03/2012 for the course ENG 317 taught by Professor Alexlee during the Spring '12 term at University of Maine Orono .
- Spring '12