http://www.governing.com/authors/rss/rss/?a=221491821 Elizabeth Kellar is president and chief executive officer of the Center for State and Local Government Excellence and also serves as deputy executive director for the International City/County Management Association. http://www.governing.com/blogs/view/col-why-municipal-bankruptcy-is-rare-detroit-vallejo-california.html It's expensive, time-consuming and seldom produces the hoped-for results. Municipalities instead should heed the lessons of those that have dealt with tough fiscal times effectively.