Sunday, October 16, 2011

EyeOnMuskegon 10-16-2011 Tom Eaton

2 comments:

Anonymous said...

Jim,

I just listened to the web recording of the Tom Eaton interview. Oakland County has done all the same things that all the companies that are still in business have done 10years ago. Our community and elected officials need to get used to change or things are only going to get worse. I have a couple of questions: Have any counties in the United States ever gone bankrupt and had to reorganize? I remember when Northwest went bankrupt they reorganized and many of the pensions for those already retired were greatly reduced. Has anyone done a projection of how our debt is going to grow based on the number of individuals retiring and our stagnant/reducing population?

Thanks for keeping the spot light on these issues.

Mark M.

Jim Riley said...

The state of RI and Jefferson county AL are close to bankruptcy. Google about them. I also post on MuskegonPundit about municiple bankruptcy.

Muskegon has such "Cadillac" retirement benefits that start with day-of-retirement that we will see big time early retirements so that we will be essentialy paying twice for each job-one that works and one that is retired and getting almost the same in total compensation.

Debt Clock

Total Pageviews