CALIFORNIA: AMERICAN GREECE Tim Cavanaugh of an on-line news company called REASON has written a good analysis of the dilemma facing California. He writes: “What do Europe’s most bankrupt state and America’s most bankrupt united state have in common, aside from being bankrupt? In what is undoubtedly a coincidence , noticed only by free-market fundamentalists, […]
THE FIREFIGHERS PENSION INCREASE – A CONTRACT? [ NOT!] In previous editions we informed you that in 2008 the City Council, on a vote of 4 to 3, increased the Firefighters salary and retirement benefits. They voted to increase those benefits from 2% to 3% even though they knew (were told) they did not have […]
VENTURA’S CUPBOARD –IS BARE [THE $15 MILLION PROJECTED BUDGET LOSS] On March 15, 2010 Mayor Fulton invited community leaders to attend a BUDGET WORKSHOP to help decide where to make cuts in the 2010-11 budget to compensate for an $11,000,000 PROJECTED LOSS. This statement was predicated on an estimate by the City Council that the […]
CALIFORNIA – A FAILED STATE [THE “TERRITORY OF CALIFORNIA”] You can watch the stock market successes, listen to the pundits braying out messages like “we have turned the corner”, but the reality is that the State of California and the municipalities nationwide, including the City Ventura, are in trouble. The fortunes of the State of […]
THE END OF THE FIRST DECADE It is the end of the first decade of the 21st century. This first ten years have been marred by war, scandal, fraud, economic failure and government malfeasance at all levels. Venturans will also be happy to turn the page and try to rebuild. The questions is whether local […]
911 TAX – POSTMORTEM [THE GREAT BOONDOGLE. WHERE DID THE MONEY GO?] The City Council keeps saying they do not understand why the citizens of this community have such distrust for city government. They are not likely to understand if they are not listening. No need to again examine the history and the woof of […]
THE FLEECING OF VENTURA On July 26th the Ventura County Star published an article about the deplorable conditions of the public pension plans in Ventura. The Ventura Grand Jury labeled these city pension plans as headed for disaster — an out of control cost [They actually said “uncontrollable cost”]. To see how out of control […]
THE FAILED TAX INITIATIVES [WHAT IT MEANS FOR VENTURA] California voters sent a message in the last election about a state government out of control, and out of touch. By rejecting the political establishment’s $16 billion in higher taxes, spending gimmickry and more borrowing, the voters got it right. They are willing to accept […]
THE SPECTRE OF BANKRUPTCY [T.E.A. PARTY ANYONE?] In the August 2008 edition of this newsletter, we suggested that Ventura “may” be following the missteps of the City of Vallejo right into bankruptcy court. After you read this you will realize that our unfunded pension debt and contractual obligations are staggering. We as a community owe […]
THE VENTURA BUDGET CRUNCH [SEND IN THE CLOWNS] On January 24, 2009, at 8am the City of Ventura held a special meeting at the Police/ Fire Department community room with the full City Council to discuss the city budget. This “public hearing” was on a Saturday and was not televised. The usual coterie was present. […]