| Jul 17, 2012
| 9:38 AM
The water side of Glendale Water & Power is so in debt, a bond rating agency downgraded the utility’s rating and gave it a negative outlook because the score is expected to drop again in the future.
Dropping the rating from AA to A+ could lead to...
| May 8, 2012
| 7:40 PM
Former Councilman John Drayman was indicted Tuesday on charges that he embezzled at least $304,000 from the weekly farmers market in Montrose.
In a 28-count grand jury indictment unsealed in Los Angeles County Superior Court, prosecutors also allege that...
| May 9, 2012
| 6:00 PM
A Los Angeles County Superior Court judge on Wednesday granted the release of former City Councilman John Drayman from jail after his supporters agreed to pay a $16,000 bond.
All that remained Wednesday afternoon was for a bondsman to provide the $200,...
| May 10, 2012
| 1:34 PM
The article by Brittany Levine (“No easy answers to budget gap,” May 1) pointed out that the new city manager, Scott Ochoa, has pronounced that a “new normal” is necessary to mitigate the current financial shortfall that our city...
| Jul 18, 2012
| 4:01 PM
Greg Krikorian, a Glendale school board member challenging Assemblyman Mike Gatto in the 43rd district, defended his financial record Tuesday, calling the fact that he and his wife had to get through bankruptcy protection after incurring more than $49,000...
| May 16, 2012
| 1:30 PM
The city’s investment portfolio continues to get pinched amid slow economic recovery, officials reported this week, ending $11 million down compared to the previous fiscal quarter.
With the third quarter results out, the $385-million portfolio...
| May 21, 2012
| 6:53 PM
Grand jury testimony in the embezzlement case against John Drayman — unsealed Friday — painted a picture of lax oversight of the former city councilman’s collection and accounting of proceeds from the Montrose Harvest Market, an...
| Jul 21, 2012
| 2:58 PM
Like dominoes tipping over, one after another, cities — first Vallejo, now San Bernardino, next Compton — are seeking relief from their fiscal incompetence and reckless irresponsibility by hiding behind bankruptcy laws that leave creditors and...
| May 27, 2012
Nine cities, including Glendale and Pasadena, filed a lawsuit this week in an effort to force the state to make good on millions of dollars for local officials to pay down debt and other obligations left over by the dissolution of local redevelopment...
| Nov 2, 2012
| 9:48 AM
With Glendale’s bond rating under scrutiny, the City Council this week moved toward issuing $35 million in water bonds to cover the cost of planned infrastructure work.
In October, Moody’s Investors Service put Glendale and dozens of other...
| Nov 3, 2012
| 12:00 PM
More than $1.6 million has been paid out from a compensation fund for descents of Armenian Genocide victims, according to a status report filed in a lengthy lawsuit in U.S. District Court.
However, four of the 32 claimants who haven’t been paid...
| Apr 26, 2012
| 5:10 PM
Credit agency Fitch this week downgraded its rating on Burbank-Glendale-Pasadena Airport Authority bonds, but noted the airport is in healthy financial shape overall.
The agency dropped its rating to A+ from AA- on $53.5 million worth of outstanding 2005...