Wednesday, July 11, 2012

San Bernardino seeks bankruptcy protection

LA Times
July 10, 2012, 11:17 p.m.
San Bernardino on Tuesday became the third California city in less than a month to seek bankruptcy protection, with officials saying the financial situation had become so dire that it could not cover payroll through the summer.
“We have an immediate cash flow issue,” said Interim City Manager Andrea Miller, according to the Los Angeles Times. Miller said the city has already stopped paying some vendors, and may not be able to make payroll over the next three months.

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