Los Angeles’s future is threatened by a sixfold increase in public pension costs and dueling bureaucracies that hinder its ports and tourism, according to a panel led by former U.S. Commerce Secretary Mickey Cantor.
Billionaire Philip Anschutz ’s backing of Los Angeles-issued bonds means public funds won’t be at risk in a $1.35 billion plan to lure professional football with a new stadium, said First Deputy Mayor Austin Beutner.
Los Angeles touted landing the North American headquarters of Chinese carmaker BYD Co. as a win that would generate jobs for the second-biggest U.S. city and make it a center for the growing market for electric autos.
When California Lieutenant Governor Gavin Newsom begins meetings in Austin with Hardee’s hamburgers chief Andrew Puzder, local Chamber of Commerce Chairman Bobby Jenkins and Texas Governor Rick Perry , it’s because the most- populous state lingers in a funk, even as the U.S. pulls out of the deepest recession in half a century.
Austin Beutner , general manager of the Los Angeles Department of Water & Power, told an Arizona regulator he supports the California city’s decision to boycott the state over its soon-to-be-implemented immigration law and anticipates diverted business as a result.