Stockton, CA, to declare bankruptcy [Archive] - Glock Talk

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JFrame
06-27-2012, 07:04
Seeing this on the news -- Stockton, CA, is set to become the largest U.S. city to declare bankruptcy.

Their spending deficit is up 70% since just January...


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JBnTX
06-27-2012, 07:20
They spend most of their money on welfare for all the Hispanic and Asian illegal immigrants who work the produce fields.

I remember Stockton.:whistling:

CAcop
06-27-2012, 07:33
I grew up there. Stockton is a pretty conservative town. They voted for McCain last time around.

They laid off a bunch of cops a few years back. They pay cuts and looming bankruptcy caused enough officers to leave for other agencies or retire that SPD just hired 40 officers. They run anywhere from 300-450 police officers depending on what is going on. The hiring and training of 40 new cops cost them at least $2 million, probably closer to $4 million.

BTW it is a war zone. It always has. It always will be.

HarlDane
06-27-2012, 07:48
They spend most of their money on welfare for all the Hispanic and Asian illegal immigrants who work the produce fields.

I remember Stockton.:whistling:
What city program in Stockton provides welfare?

JBnTX
06-27-2012, 07:58
What city program in Stockton provides welfare?

Then who does pay?

I lived in Fairfield, Ca from 1989-1993 and what I remember most about Stockton was all the Asian and Hispanics crammed into apartment complexes.

And all those people just standing around on the street downtown.

They certainly don't make enough working in the fields to support themselves.

Back then I heard on a radio talk show that over 60% of the San Joaquin county budget went to welfare.

Is that not true?

HarlDane
06-27-2012, 08:07
Then who does pay?

I lived in Fairfield, Ca from 1989-1993 and what I remember most about Stockton was all the Asian and Hispanics crammed into apartment complexes.

And all those people just standing around on the street downtown.

They certainly don't make enough working in the fields to support themselves.

Back then I heard on a radio talk show that over 60% of the San Joaquin county budget went to welfare.

Is that not true?
What does any of that have to do with the city of Stockton and their financial problems?

series1811
06-27-2012, 08:34
BTW it is a war zone. It always has. It always will be.

That's all I ever remember hearing about Stockton.

JFrame
06-27-2012, 08:38
That's all I ever remember hearing about Stockton.


Likewise...Also, the single most depressing movie about prizefighting, and the largely down-and-out ham-and-eggers who populate the sport, was shot in Stockton ("Fat City").


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CAcop
06-27-2012, 11:46
They spent a lot of money to try to revitalize the downtown area. They also had a bunch of people buying home who never should have bought homes. I think a lot have gone back to renting in the Bay Area, rents are high here again. There is also very little economic activity in Stockton besides ag.

Deployment Solu
06-27-2012, 11:51
Stockton, the first of a huge amount of dominoes that are going to fall. You CAN'T spend money you don't have on worthless people who are never going to produce to anything to be able to pay in.

ricklee4570
06-27-2012, 11:56
Bad leadership. This is a city that has allowed the Unions to run things to the ground. Example: If you work for the city for one month, you and your family get health insurance for the rest of your life. The average retiree in Stockton draws over $100,000 per year. They are the epitome of what NOT to do to be successful. Liberal entitlement programs that are off the chart. We no longer need to point to Greece as an example of what can happen here, it is happening here.

JBnTX
06-27-2012, 12:22
What does any of that have to do with the city of Stockton and their financial problems?

Please correct anything I've posted that doesn't have anything to do with Stockton's financial problems.

It's been 20 years since I was there.

JohnH
06-27-2012, 12:59
Likewise...Also, the single most depressing movie about prizefighting, and the largely down-and-out ham-and-eggers who populate the sport, was shot in Stockton ("Fat City").


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Best boxing movie ever. Stacy Keach and Beau Bridges if I remember correctly; and a cameo by Dallas native and former champion Curtis Cokes.

JFrame
06-27-2012, 13:12
Best boxing movie ever. Stacy Keach and Beau Bridges if I remember correctly; and a cameo by Dallas native and former champion Curtis Cokes.


Yep -- also an actress named Susan Tyrrell, who got an Oscar nomination playing Keach's sometime-squeeze. It was probably the most realistic boxing movie I've ever seen, as well as the most depressing...I'm thinkin' those two qualities probably go hand-in-hand.


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CAcop
06-27-2012, 14:09
Bad leadership. This is a city that has allowed the Unions to run things to the ground. Example: If you work for the city for one month, you and your family get health insurance for the rest of your life. The average retiree in Stockton draws over $100,000 per year. They are the epitome of what NOT to do to be successful. Liberal entitlement programs that are off the chart. We no longer need to point to Greece as an example of what can happen here, it is happening here.

I don't know where you got the 100K figure because it is the Central Valley current employees don't get paid that much. Are you talking total compensation.

You are right about the city leadership being ****ty. Their city counsel for years has been full of soccer moms who can't manage a PTA meeting and a bail bondsman who is the city's version of Al Sharpton.

A kid I knew in high school pretty well had a dad that was the city manager. He had his crap together. He retired a while back. The city made bad decisions almost from the day after he retired.

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barbedwiresmile
06-27-2012, 14:21
Some answers here:

http://globaleconomicanalysis.blogspot.com/2012/06/stockton-ca-files-bankruptcy-largest.html

Or feel free to ignore the problem. Doesn't make much difference either way.


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JFrame
06-27-2012, 14:27
Some answers here:

http://globaleconomicanalysis.blogspot.com/2012/06/stockton-ca-files-bankruptcy-largest.html

Or feel free to ignore the problem. Doesn't make much difference either way.


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Perhaps counting on pension fund investments returning 10-15 percent, into perpetuity, didn't quite pan out...


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CAcop
06-27-2012, 14:27
Some answers here:

http://globaleconomicanalysis.blogspot.com/2012/06/stockton-ca-files-bankruptcy-largest.html

Or feel free to ignore the problem. Doesn't make much difference either way.


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Some answers. I'll wait to see what the state investigation finds. The public works projects they built were more appropriate for a city 2-3 times their size. I wonder if people benefitted unlawfully from those contracts.

I remember Orange County in the 90s when their pension went bust while everyone else was making money hand over fist. Some politicians went to prison over it.

Knowing Stockton like I do I can see some people going to Club Fed. Look up Monte McFall and Baxter Dunn.

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HarlDane
06-27-2012, 20:10
Please correct anything I've posted that doesn't have anything to do with Stockton's financial problems.

It's been 20 years since I was there.
You are talking about county programs largely funded by state and federal funds. They have absolutely nothing to do with the city of Stockton's financial problems. It's like blaming Ford for GM's problems because they're located in the same general area and are in the same industry.

JBnTX
06-27-2012, 20:17
You are talking about county programs largely funded by state and federal funds. They have absolutely nothing to do with the city of Stockton's financial problems. It's like blaming Ford for GM's problems because they're located in the same general area and are in the same industry.


Then I stand corrected.