When a company or individual files for bankruptcy it usually means they're not very good at managing money. I always thought that filing for bankruptcy was a legal procedure allowing someone time to get their financial affairs back in order and that hiring a consultant with good money management skills was one of the best and fastest ways to get one's finances back in the black.
What do I know.
Last August the city of San Bernadino, CA filed for bankruptcy. The other day the city council of San Bernadino voted unanimously to hire Allen J. Parker as its city manager on an annual salary of almost $222,000. In 1991 Mr. Parker filed for personal bankruptcy. He filed a second time in 2011. A spokesman for the city council told reporters the council knew all about Mr. Parker's bankruptcies.
What do I know? I know the taxpayers of San Bernadino better be saying their prayers and electing a new city council ASAP.