Bankruptcy still S.D.'s buzzword: analysts contend it remains an option to right city's woes.

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Bankruptcy still S.D.'s buzzword: analysts contend it remains an option to right city's woes.

The big bad "B" word--bankruptcy--continues to be bandied about San Diego as a solution to the city's fiscal misfortunes.

While most San Diego officials have dismissed it as an option, some outside analysts say bankruptcy deserves serious consideration.

Chapter 9 bankruptcy, the only option available to municipalities, is a form of reorganization that essentially gives a city some breathing room, said the Atlanta-based Sajan George, managing director of Alvarez & Marsal, an international turnaround specialist.

George was part of the Arthur Andersen restructuring team that advised Orange County during its bankruptcy proceedings. The filing occurred following the December 1994 announcement that th...

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