Steven Cuevas / KPCC
San Bernardino city council.
The bankruptcy crisis in San Bernardino charges forward with the news that city credit cards have been cut off.
City Manager Andrea Travis-Miller told members of city council that credit firms had cancelled the city’s cards. Even the gas cards.
Travis-Miller spoke with KPCC about San Bernardino’s debt, saying the deficit could grow as municipal employees flee the fiscal fiasco.
"We are now paying cash for all of our goods and services. We have had many employees come to us and indicate that they plan to leave e organization. I was told that we had upward of 25 people at Cal-PERS filing for retirement or at least investigating that possibility. So our estimates of payout values have grown exponentially."
San Bernardino city council is preparing to vote on whether to file for bankruptcy in the face of a $45 million deficit. Declaring bankruptcy would allow the city to restructure its debt.
Ryan Pierse/Getty Images
April 2012 - will.i.am from The Black Eyed Peas in Sydney, Australia. (Photo by Ryan Pierse/Getty Images)
Let's get it started in here. Provided "it" is a bankruptcy filing, and "here" is a Los Angeles courtroom.
The Black Eyed Peas former business manager Sean Larkin -- with assets estimated at less than $500,000, $1 million due in back taxes, and owing on a Sherman Oaks condo and minivan -- has filed for bankruptcy in LA.
"In a petition Sunday seeking Chapter 7 protection in the U.S. Bankruptcy Court in Los Angeles, a lawyer for Sean Larkin estimated his debts at between $500,000 and $1 million," reports the L.A. Times.
The group ended its relationship with Larkin after discovering that the 41-year-old had not filed the band's federal income-tax returns for years. He is being sued by one band member and by a television executive.
In the lawsuits, he is accused of hiding IRS letters demanding payment. Larkin acknowledged that he failed to file the returns in a deposition in the executive’s case saying he was "overwhelmed" by Black Eyed Peas-related work.
AP Photo/Damian Dovarganes
"Kodak" Theater, goodbye. "Hello my name is _____," now reads the imaginary name tag affixed to the glamorous Los Angeles venue located at Hollywood and Highland.
Eastman Kodak received court approval on Wednesday to end its sponsorship of the 3,300-seat theater. Kodak signed a naming rights deal for $74 million in 2000, but the iconic photography company asked to cut short its contract after filing for Chapter 11 bankruptcy protection last month.
Less than two weeks before welcoming inside the Academy Awards on Feb. 26, the famed venue finds itself in the throes of an identity crisis. Like many of its famous visitors, it seems a makeover is inevitable.