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  • Cannabis Industry Singled Out?

    mj indoorgrowMason County PUD#3's new rate schedules have members of the I-502 Industry concerned. The members feel they have been singled out, and will have the highest PUD electrical rate structure levied on them.  The I-502's are not asking for special treatment, just equal treatment given… Read More +

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  • Audit: Room For Improvement On Welfare Benefits

    olympiaA state audit of the Department of Social and Health Services' food and financial assistance programs to low-income residents found the state could save or recover an estimated $1 million in benefits paid out to people who are ineligible because they either make too much money… Read More +

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  • Sherman, Baldwin Dig At NFL In Press Conference

    lynchbaldwin nflWith the help of a cardboard cutout, the Seattle Seahawks' Richard Sherman and Doug Baldwin took digs at the NFL during a news conference on Tuesday after the league issued a $100,000 fine to teammate Marshawn Lynch for not speaking to the media. Sherman and Baldwin made mention of everything

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Detroit Bankruptcy Could Affect City and State Workers Elsewhere

b_250_0_16777215_00_images_obgrabber_2013-08_cdf601aa29.jpgCraig Barritt/Getty Images(NEW YORK) -- If Detroit is allowed to proceed with its bankruptcy filing, it could lead to painful changes elsewhere for millions of teachers, firefighters, police and other city and state workers. "There's been a belief in the public sector that these pension promises are safe no matter what," finance professor Robert Novy-Marx of the University of Rochester.

But if the court allows Detroit to reduce its pension payments, Novy-Marx says that could lead to cuts elsewhere. "It is possible this is potentially an important precedent setting case," he says.  Some generous public sector pensions are seriously under-funded.

On July 18, Detroit became the biggest American city to file for bankruptcy after its emergency manager filed for Chapter 9 protection with more than $18 billion in accrued obligations.  In the filing with the U.S. Bankruptcy Court in the Eastern District of Michigan, state-appointed emergency manager Kevyn Orr indicated that the city's estimated number of creditors was "over 100,000."

Copyright 2013 ABC News Radio

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