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>> lisa, any reaction from the judge to franklin templeton's claims? and secondly, how does this process in stockton compare with what's going on, say, in detroit? >> well, no reaction there. just presenting witnesses and cross examining. the trial is expected to last at least until thursday and then the judge will issue a ruling at some point after that. in terms of detroit, it's a much smaller issue. so stockton is dealing with $26 million of debt where detroit, as you know, is more like $185,000,000,000 of debt to deal with. but this issue of pension is going to be a hot topic nationwide where precedent could be set here, and others cities will follow. david. >> lisa barnard from san francisco. thanks for that report in today's power politics, republican senator marco rubio has now all but declared he will seek the presidency in 2016. republican organizers say rubio told them he is planning to run. rubio is 43 years old. he declared on television this weekend he has the right experience and is ready to be president. no same appearance, rubio took a
>> lisa, any reaction from the judge to franklin templeton's claims? and secondly, how does this process in stockton compare with what's going on, say, in detroit? >> well, no reaction there. just presenting witnesses and cross examining. the trial is expected to last at least until thursday and then the judge will issue a ruling at some point after that. in terms of detroit, it's a much smaller issue. so stockton is dealing with $26 million of debt where detroit, as you know, is...
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so, franklin templeton investors is taking the city to court, starting the trial today. they claim they are discriminated. if it agrees the re-organisation may not go into effect and instead of ending stockton's strategy, approximately be back to the drawing board, which could take another six month. the $35 million went towards building fire houses, police dispatch center, parks for the city. a bankruptcy attorney said stockton is protecting lucrative pension plans for city employees, and this is one of the points that the lawyers for franklin templeton investors will point out. that the pension plans are being protected and it, as a large creditor, is not protected. the city says cutting pennings makes -- pensions makes it difficult to hire employees. it had to cut the police force in the bankruptcy restructuring. crime in stockton dramatically went up. >> when it comes to bankruptcy, no plan is like the other. how does this compare to what is going on in detroit? >> it's a larger city, and here in stockton they are looking at restructuring 20 million, compared to 18.5
so, franklin templeton investors is taking the city to court, starting the trial today. they claim they are discriminated. if it agrees the re-organisation may not go into effect and instead of ending stockton's strategy, approximately be back to the drawing board, which could take another six month. the $35 million went towards building fire houses, police dispatch center, parks for the city. a bankruptcy attorney said stockton is protecting lucrative pension plans for city employees, and this...
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May 13, 2014
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stockton is protecting lucrative pension plans for city employees and this is one of the points franklin templeton will argue, that those investments should be considered as part of restructuring the debt. if the judge agrees then bankruptcy plan will be thrown out and instead of pulling out of bankruptcy next month it will be back to the drawing board and could take another six months or longer. >> that's lisa ber anard reporting. >>> why why secret service workers were ordered to leave their post, one night in 2011. >>> and michael sam joins the nfl but will it change the rules against employees? we'll take another look. >> welcome back to al jazeera america. i'm john siegenthaler in new york. there's a lot to cover this half hour. the government always rules and regulations for carrying oil on trains. >>> plus why secret service agents were pulled from their warehouse posts and dispatched to a loam in maryland. >>> a robotic arm that will help many ampute amputees live a morl life. richelle carey has the headlines. >> cdc announced a resident of saudi arabia visiting florida is in a hospital af
stockton is protecting lucrative pension plans for city employees and this is one of the points franklin templeton will argue, that those investments should be considered as part of restructuring the debt. if the judge agrees then bankruptcy plan will be thrown out and instead of pulling out of bankruptcy next month it will be back to the drawing board and could take another six months or longer. >> that's lisa ber anard reporting. >>> why why secret service workers were ordered...
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opposing the deal is franklin templeton investments which lent the city $35 million to build fire housesnd parks and move its police dispatch center. stockton wants to pay 10% of that total. stockton is the largest city in california to file for bankruptcy protection. >>> one of the plaintiffs in a lawsuit against several tech companies including apple and google is protesting a $324 million settlement. that was negotiated by his own lawyers. michael divine is one of four named plaintiffs in a class action of 64,000 people who sued apple, google, intel and adobe. they claim they made a deal not to hire from each other's companies to avoid a salary war. they should have to pay significantly more and admit wrongdoing. >>> stage two of the tour of california starts in just a few hours in folsom. it's a short race just 12.5 miles through the city's historic district. mark cavendish who prevailed in stage one with a width of a tire. tomorrow stage three of the race gets started right here in san jose. it will be one of the most challenging stages of the bike race, sending riders up mt. hamilt
opposing the deal is franklin templeton investments which lent the city $35 million to build fire housesnd parks and move its police dispatch center. stockton wants to pay 10% of that total. stockton is the largest city in california to file for bankruptcy protection. >>> one of the plaintiffs in a lawsuit against several tech companies including apple and google is protesting a $324 million settlement. that was negotiated by his own lawyers. michael divine is one of four named...
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this include in but standing in stockton's way is franklin templeton investments, which lent stockton5-million-dollars to build firehouses, parks and move its police dispatch center. franklin says the city is offering it only 350- thousand-dollars. hundreds of people fled to shelters as a wildfire threatened an entire town outside amarillo, texas. firefighters believe the but fire has destroyed more than 100 homes. but cnn's andrew spencer reports the fire is now 75- and who wantthe national safety board is investigating the deadly hot air balloon accident in but we are also learning more aobut the pilot who died in the crash. finncaptain daniel kird lived here in this home in kent county, delaware. kirk was piloting the balloon friday when it drifted into power lines. caught fire. and exploded. were killed. but what this is was a hot air balloon aficionado who loved ballooning. his mother verna kirk says says day flowers the day before he died we're learning more about the pilot of the deadly hot virginia. rufus s. captain daniel kirk lived here in this home in kent his parents. he w
this include in but standing in stockton's way is franklin templeton investments, which lent stockton5-million-dollars to build firehouses, parks and move its police dispatch center. franklin says the city is offering it only 350- thousand-dollars. hundreds of people fled to shelters as a wildfire threatened an entire town outside amarillo, texas. firefighters believe the but fire has destroyed more than 100 homes. but cnn's andrew spencer reports the fire is now 75- and who wantthe national...