Jefferson County First Anniversary Bankruptcy Check-up
Friday is the first anniversary of Jefferson County filing the largest municipal bankruptcy in U.S. history. The $4.1 billion dollar filling last year, mostly debt on the county’s sewer system, attracted a lot of attention. But with the case now working through bankruptcy court, it’s fallen off the radar a bit.
A year ago, WBHM’s Andrew Yeager spoke with Samford University law professor Michael Floyd about Jefferson County’s bankruptcy. They spoke again for a one-year check-up. Floyd says the proposed sewer rate increase county commissioners passed Tuesday is an important step.
Interview Highlights
On how much Jefferson County will ultimately pay to creditors:
“There are some numbers that suggest maybe we end up with about half of the debt, seem to be around $1.5 billion, $1.6 billion, something like that. Although we’re still several steps away from really having a number for that.”
On whether Jefferson County has made progress this last year:
“The issues related to the bankruptcy reflect some progress. The larger governance issues about the constitution and the state government and the lack of home rule remain deeply troubling. While I’m encouraged by the progress through the bankruptcy process and I’m encouraged by what I see from our leadership on the commission, we still have a lot to do in terms of a better structure of government. And that’s separate and apart from the bankruptcy process.”
On how much longer bankruptcy will take:
“It remains to be seen whether we’ll get out before we have a second anniversary. I’m hopeful that we will, but that depends on a number of variables that we don’t have control over.”
~ Andrew Yeager, November 9, 2012
President Trump can continue to withhold billions in foreign aid, court rules
A federal appeals court handed President Trump a victory on Wednesday. The court ruled the administration can continue to freeze or terminate billions of dollars that Congress approved in foreign aid.
Infowars conspiracist Alex Jones is a big step closer to losing his studio and brand
Jones has lost control of his media empire to a newly-appointed receiver who will sell it off to pay the Sandy Hook Elementary School families who sued Jones for defamation after the 2012 shootings.
A lock of hair may have just changed what we know about life in the Incan Empire
Inca society kept records by encoding information into knotted cords called khipu. A new analysis of hair woven into these cords suggests this record-keeping was practiced by commoners as well as elites.
Zelenskyy: Trump supports ceasefire and security guarantees for Ukraine at Putin summit
European leaders held a high-stakes meeting Wednesday with President Trump, Vice President JD Vance, Ukraine's Zelenskyy, NATO's chief, and European leaders ahead of Friday's US Russia summit.
In 1985, famine led to Live Aid and a U.S. alert plan. Trump froze it. Now it’s back
It's the 40th anniversary of the superstar concert to raise money for an Ethiopian famine — and of the creation of a U.S. program called FEWS NET to prevent future famines.
With replay review and ‘robot umps,’ who is still trying to become an MLB umpire?
Between replay review, automated balls and strikes and viral lowlights on social media, the work of baseball umpires has been transformed by technology. But none of that has deterred aspiring umpires.
