NEW: Taxpayer Group—‘Wakeup Call to Entire State’
Monday, August 01, 2011
A taxpayer group is blaming union leaders for forcing Central Falls into bankruptcy, saying the move should be a wake-up call to the rest of the state.
“This is a sad day for Rhode Island but must also be a wake-up call for the entire state,” said Harriet Lloyd, executive director of the Rhode Island Statewide Coalition. “The red flags were up for over a year that a Central Falls bankruptcy was looming. The real shame in this is that union leadership failed their own retiree members in not urging them to accept the eleventh hour concessions that were offered by the Receiver in recent weeks.”
GET THE LATEST BREAKING NEWS HERE -- SIGN UP FOR GOLOCAL FREE DAILY EBLASTWeeks before announcing bankruptcy, Flanders had asked current workers and retirees to voluntarily accept reductions to their benefits. No deal was struck with the unions and only a tiny handful of retirees accepted the reductions.
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