Why cities like Vallejo, CA are going bankrupt!!!

Quote from blackjack007:

do people here really think 100-200k is a lot of money especially for people who are 40-50 years old?

google alone probably has a few thousand employees who make 6-figure compensation and many of them are in their 20s and early 30s.


i think you've missed the point.

it's not really the money that they are making. it's the WAY they are earning them mostly...via overtime.

how many hours do you think they have to work to earn additional 2x their salary numbers via overtime? A guy making $50k but makes additional $100k or more in overtime to make over $150k....

do you really think they are working well over 80 hours per week every single week to do this?

i highly doubt that.
 
cheaper to pay them the overtime in most cases, rather then make up the "shortfall" of positions by hiring and filling all of them...because it would most likely in a time like this require that you then have to lay off a bunch; not a popular route to obviously take.

Even if a city actually declares bankruptcy, the state would come in and bail them out in some fashion.
 
Quote from sunggong:
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2008/03/30/MN7OVQOPK.DTL
Many city employees racking up over $200k in overtime pay.
Even some park ranger pulled in close to $265k.
Looks at Vallejo firefighters' salaries, $190k....
I'm sure this crap goes on in every city in America.
I remember when I lived in Boston, several city employees got fired for unnecessarily racking up contractor $$$ for that Big Dig project. Also, I believe police officers there average about $150k.
If you're not doing too well trading, go become a firefighter or a policeman!

How else can you afford a Californian mortgage ?
 
Quote from Mvic:

You couldn't pay me enough to be a police officer in the US. Quite possibly one of the worst jobs anyone could have, I don't begrudge them a penny.


Couldn't agree more... there's no amount of money that could get me to shave my head, drop my personality and loose my sense of self...

B
 
Quote from sunggong:

i think you've missed the point.

it's not really the money that they are making. it's the WAY they are earning them mostly...via overtime.

how many hours do you think they have to work to earn additional 2x their salary numbers via overtime? A guy making $50k but makes additional $100k or more in overtime to make over $150k....

do you really think they are working well over 80 hours per week every single week to do this?

i highly doubt that.

I know a cop who does high school dance's, bounces at a bar and does 'special assignment' (walking around the mall) here and there and he pulls well over 130k ... otherwise, he'd be down around 80.

B
 
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