Daily Archives: September 13, 2012

El Segundo like many other cities in California appears to have some of the symptoms of an affliction now common throughout California. It has been observed in Vallejo, San Jose, San Diego, San Bernardino County and Stockton. I will refer to this malady as the “Stockton Syndrome”. Some of its symptoms include the lack of a balanced budget, loss of revenue from sales and real-estate taxes, investment income and electric utility tax. Other symptoms include unexpected personnel costs. Annual budges that must also cope with ever increasing yearly growth in salaries, pension and medical costs is common. Moody’s has taken notice of this in their recent announcement to review the bond ratings of all California cities. … Continue reading →