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The city of Providence faces bankruptcy by June, warns its mayor, facing a $22.5M deficit even...

Feb. 03, 2012 11:20 AM ETPRB, MUB, TFI, PZA, SHM, PVI, ITM, MLN, SMB, SUB, HYD, VRD, SMMU, MUNI, GMMBBy: Stephen Alpher, SA News Editor4 Comments
The city of Providence faces bankruptcy by June, warns its mayor, facing a $22.5M deficit even after pay and benefit cuts agreed to by unionized employees. He's asking for retirees to accept lower benefits and tax-exempt institutions like Brown University to chip in millions.

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