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Bankrupt San Bernardino Hires Twice Bankrupt Manager for Annual Salary of $222,000

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Published : February 24th, 2013
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FOLLOW : Newspaper, Water
Category : Opinions and Analysis

The woes of twice bankrupt Allen J. Parker, age 71 may be over.

The bankrupt city of San Bernardino Hires the Twice Bankrupt Allen Parker as City Manager based on his "experience".

The bankrupt city of San Bernardino has hired a new city manager who, according to court filings, has twice declared personal bankruptcy and was recently ousted from the board of a small community's water company after being sued by shareholders.

The city council voted unanimously on Tuesday night to hire Allen J. Parker, 71, as its city manager on an annual salary of almost $222,000. He replaces an interim city manager who resigned last month because, according to friends, she was exasperated by the city's internal divisions.

Pat Morris, the mayor of the city in California, praised Parker's "wealth of city management experience" and expressed "great confidence" in his ability to oversee the city's affairs.

The California newspaper The Press-Enterprise reported on Thursday that Parker filed in 2011 for personal bankruptcy. In comments to the paper, Parker said that his bankruptcy and his ability to handle the city's fiscal problems were "apples and oranges."

The bankruptcy of San Bernardino, a city 65 miles east of Los Angeles, is a national test case as to whether the pensions of government workers take precedence over other payments in a municipal bankruptcy - a high stakes issue for pension plans and their beneficiaries, and for the Wall Street bondholders who lend money to governments.
Parker's first bankruptcy was in 1991 and his second in 2011. Apparently he is the best person available for the job.

But what job is that?

I strongly suspect the "job at hand" is to protect the interests and the pensions of the city council members and perhaps the unions (at the expense of taxpayers of course).

Mike "Mish" Shedlock
http://globaleconomicanalysis.blogspot.com
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Mish 13 abonnés
Mike Shedlock / Mish is a registered investment advisor representative for SitkaPacific Capital Management. He writes a global economics blog which has commentary 5-7 times a week. He also writes for the Daily Reckoning, Whiskey & Gunpowder, and has over 80 magazine and book cover credits. Visit http://www.sitkapacific.com
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