Archive for November 27th, 2012

The Sun: San Bernardino City Council approves cuts in pendency plan

City Manager Andrea Travis-Miller, center, discusses details of the pendency plan on Monday during a city council meeting in San Bernardino. (Micah Escamilla/Correspondent)

San Bernardino Bankruptcy

Ryan Hagen, Staff Writer
Posted: 11/26/2012 05:04:27 PM PST

Catch up: San Bernardino
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SAN BERNARDINO – It’s not quite a balanced budget and it’s not quite unanimous, but after weeks of pressure the City Council reached a milestone Monday when it passed a cuts package that will be presented to the court as part of the city’s bankruptcy filing.

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The PE: SAN BERNARDINO: Council adopts bankruptcy plan, 5-2

Published: 26 November 2012 – 07:10 PM

The San Bernardino City Council adopted an austerity spending plan on a 5-2 vote Monday, Nov. 26, after an unusual show of unity by the mayor and city attorney and an impassioned argument against the document by Councilman Chas Kelley.

To read story by Jan Sears in The Press Enterprise, click here.

Sandra Emerson, Staff Writer
Posted: 11/26/2012 09:25:43 PM PST
Updated: 11/26/2012 11:05:22 PM PST

UPLAND – The City Council on Monday gave City Manager Stephen Dunn authorization to move forward on researching several long term solutions to reign in the city’s budget.

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The PE: ELECTION 2012: Riverside County election certified

Published: 26 November 2012 – 02:14 PM

Riverside County was the last in California to finish its election night vote count. But it will certify its results eight days ahead of a state deadline.

To read story by Jeff Horseman in The Press Enterprise, click here.

WSJ: California Bonds Get Another Look

CREDIT MARKETS
November 26, 2012, 7:44 p.m. ET
By KELLY NOLAN

California has long ranked second only to Illinois in the dubious honor of being the least-loved state among municipal-bond investors.

But since Election Day, some investors have had a change of heart.

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The political aide will be sentenced Wednesday for stealing more than $7 million from clients. Representatives for some victims say the penalty isn’t enough.

By Patrick McGreevy, Los Angeles Times
November 26, 2012, 7:14 p.m.

SACRAMENTO — Federal prosecutors recommended Monday that former campaign treasurer Kinde Durkee — who pleaded guilty earlier this year to mail fraud involving the theft of more than $7 million from her clients — be sentenced to about eight years in prison.

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By Phil Willon
November 26, 2012 | 6:30 pm

The City Council of San Bernardino, which is in bankruptcy and facing a $45.8-million budget shortfall, on Monday voted to slash more than $26 million in spending and freeze debt payments as the financially troubled city struggles to stay afloat.

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