I'm thinking the "pluses" will include:
- The Court will appoint a grown-up to manage the City, rather than leaving the big checkbook in the hands of Villaraigosa and the rest of the Spring Street Gang;
- The City will avoid all the onerous "poison pill" contract provisions that make it more expensive to lay off employees than keep them on the payroll;
- The City will likewise avoid the pension obligations before they become a fiscal black hole, sucking in all available revenues;
- The City will avoid the 99-year "leases" of parking lots, golf courses, street parking and other assets that Villaraigosa et al. are about to give away at fire-sale prices to reward their cronies;
- The City will avoid countless other wasteful contracts, "conditional loans," and leases that unfairly benefit the Spring Street Gang's cronies at the expense of you, the taxpayer; and
- The political careers of Villaraigosa and every member of the City Council will be "done," once and for all.
As for the "minuses," . . . .
Yeah, I'm not getting any minuses, are you?
For more details about what could happen if the City declares Chapter 9 bankruptcy, you can review the essay I wrote back on January 26, 2010.