The financial morass that San Bernardino, Calif., plunged into last month widened on Wednesday, when city officials filed an emergency request for bankruptcy protection with a federal bankruptcy court. The city's estimated liabilities are greater than a billion dollars.
The Northern Mariana Islands are about 4,000 miles west of Hawaii. They look like the kind of tropical islands you see in the movies with bright blue water and white sand beaches.
The people who live on the islands are American. The Commonwealth of the Northern Mariana Islands is a U.S. territory. And just like a lot of U.S. states, the commonwealth has a pension plan for its government employees.
In 2008, Kimberly Fague was diagnosed with organ failure.Â Plagued by nausea, she lost a third of her body weight. She suffered from confusion and constant fatigue. Her liver and surrounding organs swelled to the point that she developed a hernia.
With US Airways breathing down its neck, making nice with its unions as well as its creditors, American Airlines came to New York City on Monday to ask a federal bankruptcy judge for relief. Mostly, American wants relief from its unions â€” 13,000 jobs would be eliminated under its reorganization proposal. American has been hemorrhaging money for years and wants to lower its costs to compete.