Bankruptcy for Stockton and Vallejo California…AGAIN!

A local newspaper headline announces bankruptcy in Stockton, California

Stockton and Vallejo California, two middling cities already famous for their respective municipal bankruptcy via mismanagement and out-of-control public pension costs, have predictably reached the pinnacle of failure yet again. And we didn’t have to wait long to see it happen. As Yogi Berra once said, “It’s Deja vu all over again!”

Many County retirees get healthcare for as low as one cent per month

This should curl your toes… according to the County’s OPEB Task Force Report available on both the County and CoCoTax websites: The County had 8,428 active employees and 5216 retirees and surviving spouses as of 1/1/06 The County contributes 80% of retiree health plan cost for most plan options and adds an amount equal to […]

California Legislative Analyst Office releases pension and health benefit report

The Public Employees Post-Employment Benefits Commission—appointed by leaders of the California Legislature and Gov. Arnold Schwarzenegger—released an over-300-page report this morning on pension and retiree health benefits policy for state and local governments in California. A first-of-its-kind statewide survey identified at least $118 billion in unfunded retiree health (also known as OPEB) liabilities, as self-reported […]

Applause for Langley’s editorial in Transcript

Congratulations to Peter Langley for his Community Forum View Points opinion column in the Jan 3-08 Concord Transcript. Seemingly, for once, instead of ignoring the elephant in our living room, that important editorial space was used to talk about a critical community problem. Langley presented a thoughtful essay about the awful mess Contra Costans face […]