Illinois fiscal woes

http://finance.townhall.com/columnists/mikeshedlock/2015/12/28/death-watch-illinois-despite-massive-stock-market-rally-illinois-pension-liabilities-go-up-and-up-and-up-n2097394?utm_source=thdaily&utm_medium=email&utm_campaign=nl

Detroit's first bond sale since emerging from bankruptcy

http://www.bloomberg.com/news/articles/2015-08-19/detroit-said-to-offer-4-625-in-first-bond-sale-since-bankruptcy Bond buyers are remembering and the bonds were priced to yield returns higher than top rated debt. This situation has resulted in more scrutiny of bond sales, but the plan has been set in place.

Detroit pension cuts allowed says Judge

Calling attention to the fact that a pension was a contract was an important part of the decision.   http://www.freep.com/article/20131203/NEWS01/312030159/Retirees-brace-pension-cuts-wake-Detroit-bankruptcy-ruling

Cities fighting for solvency

8 out of 12 municipal bankruptcies in the last 3 years.   What are reasons and how to stop the downward slide are suggested here.  http://ww2.cfo.com/accounting-tax/2013/11/cities-brink/

Lesson in reckoning with obstacles as they occur

rather than "kicking the can" down the road.  http://www.thestreet.com/story/12059944/1/political-popular-obstacles-block-pension-changes.html

Detroit defends right to bankruptcy

This article discusses a few of the issues relevant to the challenges that have been made to Detroit's right to bankruptcy.   The initial processes undertaken and a few dates for the next steps in the legal processes are described.   The case of those "for" and "against this are highlighted

http://www.bondbuyer.com/issues/122_174/detroit-defends-right-to-enter-chapter-9-1055354-1.html

Detroit's underfunding of pension funds less dire than presented

originally in the city's pending bankruptcy, according to this article http://www.freep.com/article/20130802/BUSINESS06/308020076/Detroit-pension-Orr-bankruptcy

This article shed some light as well. 
http://www.crainsdetroit.com/article/20130804/NEWS/308049961/detroit-ch-9-may-set-pension-precedent#

Audit report blasts city of Stockton, CA

Stockton had taken bankruptcy, but this report shows internal control issues that likely contributed to poor fiscal affairs.  http://www.recordnet.com/apps/pbcs.dll/article?AID=/20130801/A_NEWS/308010320

The writer of the article keeps a blog on Stockton City Hall activities http://blogs.esanjoaquin.com/stockton-city-hall-blog/ 

States and cities need to promise less

This article is discussing the potential of the borrowing and debt from promises made (pension and health care) and the challenges and warnings to various governments.   There is one quick-telling visual of the map of the U.S. with the pension gap highlighted in colors for states where this gap is greater than 50% of annual revenues.  http://www.economist.com/news/leaders/21582258-it-not-just-detroit-american-cities-and-states-must-promise-less-or-face-disaster

Some future scenarios for Detroit

as per these educators  http://hbswk.hbs.edu/item/7313.html

Large U.S. municipal bankruptcies

are discussed in this article  http://247wallst.com/special-report/2013/07/19/the-largest-municipal-bankruptcies-in-u-s-history/

Detroit files for bankruptcy

Trying to stop 60 years of decline, Detroit is the largest American City to file for bankruptcy.   The governor's representative, Kevin Orr discusses the 15 months he has left in his 18 month term, to try to help Detroit.   The lawyer for the retirement systems see it as betrayal, as well as others who view it as a dark day.   Many citizens will watch this situation with interest.  http://www.freep.com/article/20130718/NEWS01/307180107/Detroit-files-Chapter-9-bankruptcy-amid-staggering-debts

A ticking clock for Detroit

as the State has declared a financial emergency situation.  This gives ten days to look for solutions,  prior to a state takeover of Michigan's biggest city.    A state takeover is preferable to the bankruptcy option, which if it occurred would make Detroit the largest municipal bankruptcy.   Michigan law enables this state takeover option.  http://www.businessweek.com/news/2013-03-04/michigan-governor-s-move-sets-detroit-takeover-in-motion

Detroit needs some cash

or the concern is that it could, in very short time be the largest U.S. municipal bankruptcy.   The options are described in this article.   http://www.nytimes.com/2013/02/08/opinion/detroit-sinks-with-belle-isle.html?_r=0

Atwater California

faces fiscal emergency.   http://online.wsj.com/article/SB10000872396390443493304578036781420348220.html?mod=djem_jiewr_AC_domainid

Stockton CA bankruptcy and

relationship to a bond deal related to paying the city's pensions.  http://www.nytimes.com/2012/09/04/business/how-a-plan-to-help-stockton-calif-pay-pensions-backfired.html?_r=1

More California municipal bankruptcies

are likely ahead according to Moody's http://www.businessweek.com/ap/2012-08-17/moodys-more-calif-dot-cities-at-risk-of-bankruptcy

San Bernadino files Chapter 9

Since June 28, 2012 (in a period of just over a month) San Bernadino is the third California city to seek bankruptcy protection.   http://www.bloomberg.com/news/2012-08-02/san-bernardino-california-files-for-bankruptcy-protection-2-.html

Jefferson County Alabamba in fear

of becoming bankrupt.  The Wall Street Journal article is showing how the county situation unfolded and what is currently happening to try to cope with this  http://online.wsj.com/article/SB10001424052748704559904576230452710035180.html?mod=googlenews_wsj   An earlier article also presents facts   http://www.reuters.com/article/2010/04/09/us-usa-alabama-jeffersoncounty-exclusive-idUSTRE6384NQ20100409