Page 21 - Patrick Morris News Today

>> it was a perfect storm economically when this hit in 2006 and 2007 the bottom fell out. >> in the perfect storm, morris says san bernardino property values dropped by 65%. seven car dealerships shuttered and the city lost tens of millions of dollars of sales, income tax and tax receipts. >> we have major cash flow issues. >> he names a great recession. every city in california has been through the great recession. >> republican state assemblyman mike mor morrell rejects morri perfect storm an...

>> in other words, bankruptcy court. but public is sector unions are saying not so fast. they point to state precedence that suggests their pensions are are untouchable. however, morris, a former judge believes that in this unprecedented crisis the courts will allow cities to it modify at least some of their contracts. meanwhile, he is dealing with the day-to-day trials of a city gone belly up. >> now, you dont really have any credit. >> thats right. >> cash for things. >> carry.d kari. >> you v...

translates well. he skates his heart out and trains and trains and ends up beating a lot of big fellows im sure from michigan where i came from, wisconsin, minnesota, becomes a member of the united states speed skating team, long track, bonnie blair, isnt she the best. anyway he is long track so he comes out to salt lake city and skates his heart out. gets the silver and gold medal. fastest man on earth on skates. i invited him to sit with the vice president and as he came in i said de...

accomplish. >> fox news reporting cities going broke. reporting from wall street in new york city here is bret baier. >> this hour we will take you inside an alarming trend. cities that have slid deep into debt. even bankruptcy. new york is not on the list today but for a number of other reasons we begin our report from this spot, americas financial nerve center. the first reason is simple. some of the nations most desperate cities are in trouble because of the millions they have borro...

i guess rollerblading translates well. he skates his heart out and trains and trains and ends up beating a lot of big fellows im sure from michigan where i came from, wisconsin, minnesota, becomes a member of the united states speed skating team, long track, bonnie blair, isnt she the best. anyway he is long track so he comes out to salt lake city and skates his heart out. gets the silver and gold medal. fastest man on earth on skates. i invited him to sit with the vice president and a...

>> when we come together as a city there is nothing we cant accomplish. >> fox news reporting cities going broke. reporting from wall street in new york city here is bret baier. >> this hour we will take you inside an alarming trend. cities that have slid deep into debt. even bankruptcy. new york is not on the list today but for a number of other reasons we begin our report from this spot, americas financial nerve center. the first reason is simple. some of the nations most desperate c...

here? >> fox news report city going broke. reporting from wall street in new york city here is bret baier. >> this hour we will taku inside an alarming trend. cities that have slid deep into debt. even bankruptcy. new york is not on the list today but for a number of other reasons we begin our report from this spot, americas financial nerve center. the first reason is simple. some of the nations most desperate cities are in trouble because of the millions they have borrowed from wall s...

here? >> fox news report city going broke. reporting from wall street in new york city here is bret baier. >> this hour we will taku inside an alarming trend. cities that have slid deep into debt. even bankruptcy. new york is not on the list today but for a number of other reasons we begin our report from this spot, americas financial nerve center. the first reason is simple. some of the nations most desperate cities are in trouble because of the millions they have borrowed from wall s...

>> on old route 66, san bernardino was known as the last stop before l.a. ♪ san bernardino >> with freeways and major railway station it was the ideal hub linking the ports of los angeles and long beach out to the rest of the country. san bernardino symbolized the promise that economic growth held for middle class america. it was even the location of the first mcdonalds. but today, this city of around 210,000 has a shortfall of $46 million. over a quarter of its entire budget. unable to fund e...

>> in other words, bankruptcy court. but public is sector unions are saying not so fast. they point to state precedence that suggests their pensions are are untouchable. however, morris, a former judge believes that in this unprecedented crisis the courts will allow cities to it modify at least some of their contracts. meanwhile, he is dealing with the day-to-day trials of a city gone belly up. >> now, you dont really have any credit. >> thats right. >> cash for things. >> carry.d kari. >> you v...