Sure, what the hell is there else to do? It's the offseason.

So, uh, you guys gonna sign Ty Law too.

We're going to trade Ashley Lelie for him.

...and then trade him to you for a kazillion dollars and a draft pick.

Get it done Carl.... Errr... Damnit Carl! :cuss: :cuss:

Chula Vista is 8 miles south of downtown San Diego.

If the chiefs did CHEAT (as your name suggests) it would be like the POT calling out the kettle wouldn't it?

.

This is why the city is having financial issues.

Pension woes

January 7, 2006

San Diego has been hobbled by investigations of its retirement system, which has a deficit of at least $1.4 billion. The city hasn't completed an annual audit of its financial statements since 2002 and has had difficulty borrowing money since 2004. The crisis can be traced to decisions that are more than a decade old.

1994: Mayor Susan Golding asks about a one-year holiday on the city's contribution to its pension system.


1995: City Auditor Ed Ryan secures a$9.3 million reduction in the city pension payment, which is later nullified on legal grounds.
1996: The City Council approves City Manager Jack McGrory's plan to increase benefits and underfund the pension system, with gradually increased payments and a safety net to guarantee the financial integrity of the system.

2000: Financial markets tumble; pension system assets drop. Dick Murphy elected mayor.

2001-02: Pension fund plunges below the ratio of assets to liabilities set as safety net in 1996 deal. City faces balloon payment of up to $75 million. Later estimates placed the payment at as much as $500 million.

2002

Blue Ribbon Committee on City Finances warns pension system is at risk.

Pension trustee Diann Shipione contends deficit will grow and warns the mayor and council against continued underfunding and benefit increases.

Murphy and a council majority approve benefit increases and a new underfunding plan, but do away with the safety net.

2003: Retirees sue city and retirement board on underfunding.

2004: Auditor Ryan announces resignation in January.

Two weeks later, city officials disclose reporting errors and omissions about the pension system in past bond documents. Huge bond issues for sewer upgrades and Petco Park refinancing are tabled.

City's credit ratings fall.

City is unable to sell bonds to borrow money for capital projects.

The FBI in February confirms joint investigation of city finances with Securities and Exchange Commission and U.S. Attorney's Office.

Murphy announces tentative settlement of retiree lawsuit to stop the city from underfunding the pension.

City Manager Michael Uberuaga resigns; his assistant, Lamont Ewell, replaces him.

Pension reform committee calls for new pension board and closing deficit – now $1.15 billion – with bonds and other debt.

Vinson & Elkins, the Washington, D.C., law firm hired to represent city in talks with the SEC, finds widespread accounting irregularities but no wrongdoing. In the same month, September, Standard & Poor's suspendsSan Diego credit rating.

The auditing firm KPMG expresses doubts over Vinson & Elkins' report and warns city officials it cannot complete long-overdue audits until the city investigates whether illegal acts have been committed.

San Diego city voters approve ballot propositions in November to restructure pension board and close pension deficit within 15 years.

City Manager Ewell saysfinancial concerns will force an indefinite delay in capital projects, including water and sewer improvements.

2005

New City Attorney Michael Aguirre, conducting his owninvestigation into city finances,issues reports suggesting Murphy and other city officials covered up the city's problems and might have violated civil securities laws.

District Attorney BonnieDumanis' office launches a criminal investigation into the city's pension system and its 13-member board of trustees.

City pension system deficit grows to at least $1.4 billion,although Aguirre says it could be $1.7 billion. With retiree health costs added, the deficit soars above $2 billion.

Murphy announces in April that he will resign July 15, seven months into his second term as mayor.

Dumanis announces on May 17 that felony conflict-of-interest charges have been filed against Cathy Lexin, former city human resources director; Teresa Webster, the city's former acting auditor; Mary Vattimo, former city treasurer; Ronald Saathoff, a fire captain and president of the San Diego firefighters union; John Torres, vice president of the San Diego Municipal Employees Union; and Sharon Wilkinson, a city management analyst. All are former pension board members.

Special election held in July to replace Murphy. Councilwoman Donna Frye and former Police Chief Jerry Sanders finish first and second in the primary. The city's financial and pension crisis dominate the race, which Sanders wins in November.

Ewell carries through in November with promise to resign as the city prepares to switch Jan. 1 to a new form of governing where the mayor assumes the citymanager's executive duties.

Over the year, Aguirre makes public subpoenas that have been issued by federal investigators looking into the city's financial practices and bond disclosures.

2006: Ongoing independent inquiries by city consultants into the financial mess have so far cost $24 million and are not expected to conclude until May. Once they're completed, the city's private auditors are expected to be able to release overdue city audits for fiscal 2003, 2004 and 2005.

Yesterday: A federal grand jury issues a 20-count indictment alleging wire fraud, mail fraud and conspiracy to commit wire and mail fraud by Lexin; Webster; Saathoff; Lawrence Grissom, who retired last month after 18 years as the pension system administrator; and Loraine Chapin, the pension system's attorney.

Isn't it lovely living in paradise by the ocean....