Target Offloads Debt; Vallejo Defers Bankruptcy; Rising Taxes
Cash flow or default problem? ... Target, #2 U.S. discount retailer,
said it's in talks with an investment partner to sell about half of its $8.3 billion credit-card loans for $4 billion.
Vallejo on the Verge... Vallejo, California's city council approved a fiscal emergency plan on March 4 to avoid filing for bankruptcy protection.
The Nattering One muses... we've Nattered before about state, county & city budget deficits and the potential...
for current day muncipal BK's to make the 1998 LTCM, Orange County BK debacle, look like a pimple on the ass of a worthog.
We guarantee higher taxes to come.
Fifty percent in shortfall... At least 25 states face a total budget shortfall of at least $37 billion in 2009.
Most have already drawn down available reserves, so they can either cut expenditures, or they can raise taxes.
With falling property tax revenues, most counties & municipalities will be forced to reduce expenditures on schools, public safety, and other services.
said it's in talks with an investment partner to sell about half of its $8.3 billion credit-card loans for $4 billion.
Vallejo on the Verge... Vallejo, California's city council approved a fiscal emergency plan on March 4 to avoid filing for bankruptcy protection.
The Nattering One muses... we've Nattered before about state, county & city budget deficits and the potential...
for current day muncipal BK's to make the 1998 LTCM, Orange County BK debacle, look like a pimple on the ass of a worthog.
We guarantee higher taxes to come.
Fifty percent in shortfall... At least 25 states face a total budget shortfall of at least $37 billion in 2009.
Most have already drawn down available reserves, so they can either cut expenditures, or they can raise taxes.
With falling property tax revenues, most counties & municipalities will be forced to reduce expenditures on schools, public safety, and other services.
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