54 pages. Excerpt: "Negotiation is, by definition, a two-way street. You cannot 6egotiate with a stone wall. You cannot do it. It cannot be done. It is a contradiction in terms. In evaluating the overall scenario, I am persuaded that the City did negotiate in good faith. That is evidenced by the substantial agreements reached on the collective bargaining agreements.... [T]he question is whether the omission of CalPERS justifies another group of creditors [who] would be impaired from voting with their feet and choosing to act as the stone wall. And my answer to that question is, no, it does not justify a creditor in taking the position that it need not negotiate in good faith on the basis that somebody else is not being taken care of or being treated similarly in the plan."  MORE >>