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Detailed text transcripts for TV channel - FOXNEWS - 20120811:07:27:00 - Vimarsana News

Detailed text transcripts for TV channel - FOXNEWS - 20120811:07:27:00

For candidates for are city council and they are present at the table during labor negotiations. >> those negotiations in some cases have bound san bernardino to pay employees just as much even after they retire. >> that is not going to work. it is not going to work. >> you cannot retire people at the age of 50 years with literally full pay and bridge their health benefits until medicare. >> the salaries and benefits you are saying have to be renegotiated. >> you bet. >> why has that not happened yet? >> it will happen under the guidance of chapter 9. >> in other words, bankruptcy court. but p...

Detailed text transcripts for TV channel - FOXNEWS - 20120811:05:27:00 - Vimarsana News

Detailed text transcripts for TV channel - FOXNEWS - 20120811:05:27:00

Renegotiated. >> you bet. >> why has that not happened yet? >> it will happen under the guidance of chapter 9. >> 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 don't really have any credit. >> that's right. >> cash for things. >> carry.d k...