SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Strategies & Market Trends : The Residential Real Estate Crash Index
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: GST who wrote (243617)4/11/2010 2:44:21 AM
From: energyplayRead Replies (1) of 306849
 
There was an idea that city employees would take lower salaries in return for higher pensions in the San Jose area. This was a way of kicking the can down the road to the next generation.

The lower salaries thing went away some time ago. Now the cities are stuck with high percentage pension commitments, which are now multiplied by the higher salaries.

My guess is this will workout on a city by city basis - the richer cities will have to live up to most their commitments, the really poor ones will move to BK, and the commitments will be cut.

The cities in between will be the most interesting, they may cut some deals, or have small tax increases / service cuts to get by.
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2026 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News