San Jose Mayor Says Cops Retiring at 50 Fuel Cash Crunch

May 1 (Bloomberg) -- Chuck Reed, mayor of San Jose, California, talks with Bloomberg's Alison Vekshin about the city's pension agreement with police and firefighters and the impact on the 10th-biggest U.S. city. From California to Rhode Island, local governments are trying to curb retirement costs that are straining budgets almost three years after the end of the longest recession since the 1930s. (Source: Bloomberg)