What City Will File Chapter 9 bankruptcy, how soon and how it will affect your end result?
This article presents some of the myths.
They have a number of people, governments agreed that the sale is the way to new customers and win back revenues. Maybe you want to look before you leap years and less subject to the same credit checks and procedures you need for commercial enterprises.
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How did you get these two issues into account?
First, do you think governments and communities broken by the same standards of financial reporting and disclosure management that your companymust comply with.
Check again. They have their own watered down version of generally accepted accounting procedures. They have prevented accounting groups from applying rules and regulations in line with commercial business disclosure, particularly on the liabilities for unfunded pension and healthcare commitments for their employees and retirees. Management disclosure levels for politicians are very minimal compared to those for business Chief Executive Officers, officers, or Administration.
What should really scare those of you that the correctness and completeness of the current financial statements, note and management communication to shareholders and the public demand.
Secondly, do you think that the community can not go bankrupt. You will always pay for you, and other suppliers, although they need more time, if there are disputes budget by state politicians.
Check again. Local authorities can and do file for bankruptcy.In fact, they created their own rules of insolvency, in Chapter 9 of the Great Depression. The City of bankruptcy filings, if not much, until recently, but things are changing fast.
On February 18, 2010 Wall Street Journal titled Section C1 threat Muni: City Weigh Chapter 9 describes in detail the painful condition, also mentions four groups of communities in bankruptcy or near bankruptcy, you are.Las Vegas Monorail, Vallejo, California, Harrisburg, Pennsylvania, and the Sierra Kings Hospital System. Consultants will be moving to the area to help governments prepare for filing Chapter 9 bankruptcy.
Some experts say that almost all cities and the state is bankrupt or insolvent, if the truth about the promises and guarantees that they have made to their pension plans for employees and health care. It 'scary when you search for those who are insolvent even with the limitedThe information is specified.
My suggestion is that the process will see your activities in this area as robust as traditional commercial loans. Or you may wake up one day and they can see big write-offs, as well as a number of bondholders, and some suppliers.
What City Will File Chapter 9 bankruptcy, how soon and how it will affect your end result?