It has been 35 years since California voters overwhelmingly approved Proposition 13, a measure that, as Governor Jerry Brown put it in 2011, “started the centralization of power” in the state. He should know because he was also governor in 1978 and helped oversee that shift.
Kelly Blair, a banker from the Baltimore suburbs, spends hundreds of dollars online every year buying gifts and household supplies like pet food and shampoo. She doesn’t check to see whether she owes sales tax -- though her home state of Maryland says that she should.
Luxottica Group SpA , the Italian owner of the Ray-Ban sunglasses brand, raised 500 million euros ($702 million) from its first benchmark bond issue as the country struggles with the fallout from Europe’s budget crisis.
A proposal for Los Angeles towers as tall as 55 stories near the iconic Capitol Records building, where stars from Frank Sinatra to Taylor Swift recorded hits, is pitting a New York developer against defenders of old Hollywood.
Illinois, which shares the worst state credit rating with California, is draining its pension funds as candidates for governor promote plans that would cover less than a quarter of a record budget gap.
The euro dropped for a fifth month versus the dollar in the longest stretch of losses since November 2008 as Europe’s deficit crisis spread and officials negotiated a potential $159 billion rescue for Greece.
Republican Governor Scott Walker of Wisconsin said today at a Bloomberg/Washington Post breakfast at the Republican National Convention in Tampa, Florida, that presidential nominee Mitt Romney needs to be more specific in telling voters how he would deal with nation’s fiscal crisis.
Hugo Chavez coasted to re-election last year warning Venezuelans that a victory for the opposition would lead to a “giant package” of spending cuts. Now his government is being forced to adopt the same strategy to stave off a budget crisis and devaluation.