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Eric and finally our last segment of the day is well not as positive -- some of the others -- Stockton California earlier this week became the first.
CD to officially go broke.
The city of about 300000 people would pull up the map you see that hour and a half or eighty miles from San Francisco.
This is a very controversial.
Bankruptcy being talked about for a lot of different reasons and we had to get real Carroll joining -- sunset now from foxbusiness.com.
To talk about your article.
And stuck in business community optimistic.
After the future optimistic about the future after bankruptcy.
And just -- -- there is grabbing because.
You know one point we were talking about.
They slashed a quarter of their police force their pensions might still be tapped into to pay their creditors.
How are they optimistic and thank you for coming on.
Include trap me and it's really the most incredible thing about it and they're so optimistic.
I spoke way.
At the director of the university of Pacific economic forecast center which is located in Stockton.
And he -- that they're feeling the bankruptcy as sort of from -- fresh for the community.
And -- big budget we'll be able to stabilize the city will stabilize and I'll be able to return to normal state.
And when I spoke to small business owners like Gary long was the president of the chamber of commerce.
He said that spending has been pretty much steady him and that everyone's just looking forward to.
Continuing to serve the community.
I don't believe.
You don't believe it now I don't think that's.
Well -- you know they've been hard hit.
My housing price and that strip that's really been a thing that.
They sent has devastated the city the -- so it's not really the bankruptcy.
It's been -- housing crisis.
So are they abstinence because obviously the housing market it and a lot and -- added yeah are writing that's and it.
The general economy isn't improving in their fortunes are improving its -- I spoke with -- -- it's -- a -- -- with right realtors and company.
In the Stockton area since the 1960s.
And -- sad that.
Housing prices are up 6% and people are still moving back to this community they want to be there.
But it's really there are no houses on the market -- -- on the sidelines -- shut down -- their -- say in acting up.
-- event and then he said that he's been looking forward to retiring.
Selling his home getting out of the business but he just -- -- -- for the price that it -- right now he's he's weak and I welcome back to the small businesses if you have less cops on the street that means.
That you are -- yes and that's really been the one problem that.
And number of the business owners that I spoke with the mountain -- -- who.
Is the owner.
And end up -- Dutch American bakery in Stockton with her husband and she sent for bakery they're -- they're so loud that they haven't been affected.
But crime has been an issue for them they were broken in camp.
-- door was knocked down and then their van which they used to sell their goods at a local farmer's market was actually stolen and stripped down transmission.
Everything was taken and it cost them tens of thousands of dollars to replace even though they had insurance.
And she said that she loves the Stockton community and the -- -- that if she had more money at this point they would leave this today.
So that's really one of those stories where.
They need more of these officers on the ground but I did speak win that public information officer at the Stockton police department just -- -- that.
And he said that they're slowly rebuilding their forces they added two officers yesterday here at 334 now down from 441 an -- And they're getting more boots on the -- that I -- in this small city 300 as a possibility -- the biggest to go bankrupt he talked to any thinking workers by chance well I spoke with.
Just -- so that the police department.
And the chamber of commerce but beyond that I haven't that they -- on their pensions.
I think everyone's a little worried about budgets about pensions but.
There isn't there's a feeling of optimism I did speak with one business owner.
-- seed -- who happens a salon and -- -- a number of her clients were actually government workers and and when you're forced to pay for their health insurance premiums.
They stop coming into the salon unless he knows she was affected but she's that she's a fighter.
You know -- and have been right there they're -- optimism there.
It's -- -- is still struggling with that.
Great cloud of getting -- -- -- -- -- now.
About that thank you sharing that story and hear your story on the screen once again -- in business community optimistic about the future.
After chapter nine they you everybody for joining us thinking every -- online and in any atmosphere -- for me tomorrow -- here on Friday.
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