May 7, 2008
Vallejo Files for Bankruptcy
Free from last last year's minority vs. self-loathing minority mayoral race headlines, Vallejo is now making national news by becoming California's largest city to file for bankruptcy. On Tuesday night, it seems, city council members voted unanimously to file before the fiscal year ends in June. In addition to a significant slump in property values and retail sales, the Bay Area city also faces a whopping budget deficit of $16 million.
Ouch.
Why? Well, according to CBS 5 (via AP, via BCN!) those blue-collar types are to blame:
Many officials and residents attribute Vallejo's fiscal troubles to overly generous pay and benefits to the city's police and firefighters. The salaries for police and firefighters currently take up 75 to 80 percent of the city's general fund.
But have no fear, Vallejo. Orange County filed for bankruptcy many moons ago, and look at them now. Since then they've given us Mischa Barton, The Hills, and whore cougars masquerading as mothers. You have nowhere to go but up, V.
|
75-80% of the general fund does seem high, and if this is indeed the case then there's nothing "blue collar" about Vallejo emergency services.
Vallejo police are allegedly among the highest paid in the state: between $6,377 and $8,504 a month.
Then you will get overtime, because there are staffing shortages.
Then your get your "3% at 50" - number of years of service times 3% of your highest or final year's pay - including overtime - so each retiree at 50 might be taking home $100K a year pension for 20 or 30 years.
So it adds up.
Firefighters get a similar deal.
Actually I'm sure if the overtime counts in the 3% calculation. Somebody correct me.
What a sh**hole. I went to the Maritime Academy and had to live there for four years. If you can read and write, you're part of the upper-crust in that town. Any of those guys making six figures have to be living in Benicia.