Providence Bankruptcy Decision Looms
The city of Providence is seriously considering its options in the wake of a $20 million budget deficit. Like many municipalities across the country, Providence is having trouble in these difficult financial times. The mayor and city managers are looking at bankruptcy as a last resort to restore the city's fiscal health.
Providence has explored several measures to close the gap in the budget, yet up to this point it has not fully resolved the problem. The city has requested voluntary concessions from city retiree pension plan holders in an effort to help stave off bankruptcy. ...






