LinkedIn Group | Instagram | Facebook | Meetup | Sign in | Join_
Home

Economic Reality: Californian city of Vallejo declared bankrupt

The fate of Vallejo - official motto: “City of Opportunity” - has sent shock waves across the country as scores of other local authorities also struggle to balance the books in the face of slumping incomes.

Councillors took the drastic step because falling property tax revenues mean they can no longer pay the generous salaries negotiated for firefighters and police officers during the flush years.

Read full article in Telegraph.co.uk

Get two daily Shenzhen insider tips:

About the Author
By: admin
Company: ShenzhenParty.com
Home Country: United States
Job Title: General Manager
Location: Futian District
Weibo or Twitter Link:
Member For: 13 years 16 weeks ago