Harrisburg, PA - files for bankruptcySubmitted by donvino on Wed, 10/12/2011 - 18:49
"Harrisburg, the capital city of Pennsylvania, filed a rare Chapter 9 municipal bankruptcy today. The city had previously defaulted on its debt and cited a "continued erosion of its finances," in its filing.
Bloomberg News reported that Harrisburg listed liabilities of $500 million versus assets of $100 million. Chapter 9 filings by municipalities are exceedingly rare, with only 35 occurring since 1981."
They are also reported to have about 250 million in debt and are behind on 65 million in payments.
The capital city of PA has roughly 50k inhabitants.
Their top '10' employers are...
1 Commonwealth of Pennsylvania 24,269 Government
2 United States Federal government, including the military 16,733 Government
3 Penn State Harrisburg, including Penn State Hershey Medical Center and Penn State Dickinson School of Law 9,425 Higher Education
4 The Hershey Company 8,400 Food manufacturer
5 Wal-Mart Stores, Inc. 6,090 Retail store chain
6 Highmark 5,100 Health insurance
7 TE Connectivity 4,700 Electronic component manufacturer
8 PinnacleHealth System, including Harrisburg Hospital and Polyclinic Medical Center 4,500 Health-care and hospital system
9 Hershey Entertainment and Resorts Company, including Hersheypark 3,835 Entertainment and amusement parks
10 Giant Food Stores, Inc. 3,600 Retail grocery chain