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Archive for July 5th, 2016

Regional Transit Retirement Rip-Off

Tuesday July 5th, 2016   •   Posted by K. Lloyd Billingsley at 9:56am PDT   •   2 Comments

The whopper government pension of Mike Wiley, outgoing boss of Sacramento Regional Transit, continues to make news, but not just because it draws on the RT operating budget. As Tony Bizjak notes in the Sacramento Bee, Wiley is eligible for a pension of $278,000, a full $48,000 more than Wiley’s final salary of $230,000…
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Puerto Rico Defaults on Constitutionally Guaranteed Debt

Tuesday July 5th, 2016   •   Posted by Craig Eyermann at 6:23am PDT   •   0 Comments

Last week, on June 29, 2016, President Obama signed a bill designed to help Puerto Rico’s government restructure its excessive debts into law – the Puerto Rico Oversight, Management, and Economic Stability Act (PROMESA). CNN reports: On Thursday, President Obama signed a bill known as PROMESA (Spanish for “promise”) to help Puerto Rico get…
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