Take Two for August 28, 2013

Judge to rule on San Bernardino's bankruptcy eligibility

BIZ CLIMATE

Steven Cuevas / KPCC

One of many vacant, distressed properties in downtown San Bernardino. This lot sits right next door to the Greater San Bernardino Area Chamber of Commerce. It’s slogan: “It’s Great Day in San Bernardino” defies the city’s hard times.

Today, the city of San Bernardino learns whether it's eligible for bankruptcy protection. The case has garnered nation-wide attention since it could set a precedent as the first city ever allowed to get out of its pension obligations to city employees.

That's a big issue in the far bigger bankruptcy case of Detroit.

Joining the show to explain what the outcome in San Bernardino could mean is California-based bankruptcy attorney Michael Sweet.
 


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