Posts tagged "bankruptcy"

April 4, 2012

3:44pm

Screw Providence Shorter PBN readers

"It's a real crisis in Rhode Island."

“While an improving U.S. economy is helping boost revenue for states, cities face declining aid and a drop in the property-tax take since the housing crash. Cities under fiscal stress are trying to avoid bankruptcy and bolster their finances, including Pontiac, Mich., which abolished its police and Cleveland, which demolished thousands of condemned structures to preserve property values. Such actions aren’t always sufficient.”

February 3, 2012

0 notes

1:32pm

Might be time to start looking at apartments in Pawtucket

“Taveras said unless the city can get city colleges and hospitals to pay more to the city, and achieve significant savings in pension benefits, the city could run out of money by June. ‘We will be forced into bankruptcy.’”