Vallejo Nears a Deal As It Looks at Cuts

Jensen, Randall
January 2011
Investment Dealers' Digest;1/21/2011, Vol. 77 Issue 3, p9
Trade Publication
The article reports on the announcement made by city manager Phil Batchelor on the potential of Vallejo, California to have a deal with Union Bank on California NA. Batchelor also mentions that the city is considering to make further reductions of employee benefits with pensions as a key target to climb out of bankruptcy. Robert Stout, former finance director of the city, mentions the possibility of creditors to object to the proposed plan.


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