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Valley Public Radio Staff
California bankruptcies spark concern over Fresno's finances
3:37 pm
Mon July 16, 2012
California bankruptcies spark concern over Fresno's finances
Lead in text:
Could the City of Fresno follow Stockton, Mammoth Lakes and San Bernadino in declaring bankruptcy? According to Barron's, Wall Street experts remain concerned about Fresno's financial position, thanks to the city's long term labor contracts and limited revenue options. They say the downsides of filing for Chapter 9 protection will likely serve as a deterrent for most cities, but Fresno's case is still a concern.
- Source: Barrons