Things aren't looking too sunny in the snowy ski resort town of Mammoth Lakes. The city government could be headed for bankruptcy unless it can pay off a $43 million debt, which amounts to almost three times the annual operating budget for this small town of about 8,000 people.
Long considered a popular winter destination for many Southern Californians, the city owes the massive sum to real estate developer Mammoth Lakes Land Acquisition, the result of a lawsuit dating back to 1997.
Mammoth Lakes Mayor Jo Bacon joins the show to discuss the town's future.
Jo Bacon is mayor of Mammoth Lakes.
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