Oakland, California, the fifth-most crime ridden city in America, faced a $32 million budget deficit in fiscal 2011. It closed the gap by shrinking its police force by 18 percent, shedding 138 officers including 80 dismissals.
Michele Ryan says Santa Clara, a Silicon Valley city of 116,500, overreached by betting it can build a $1.18 billion stadium for the National Football League’s San Francisco 49ers without dunning taxpayers.
When an earthquake jolted Mammoth Lakes, California, in 1980, it caused $1.5 million in damage and kindled fears of volcanic eruption that scared off visitors to what’s now the third-most-popular U.S. ski resort.
Seven months after Hurricane Katrina ripped holes in the Superdome’s roof in 2005, Louisiana State Bond Commission members made what they were told would be “the best of a bad situation” in financing the stadium’s renovation.
An escalating confrontation between Carlos Slim and two fellow billionaires is driving prices lower for phone, Internet and TV services in Mexico, a boon for consumers that could boost the nation’s economy.
Comcast Corp. may have to sell some NBC television stations or agree to have independent arbitration settle pricing disputes to get U.S. government approval for buying General Electric Co.’s NBC Universal .
The new owners of the Los Angeles Dodgers will need more than great play on the field to justify the record $2.15 billion they paid for the baseball team. They may need to transform the real estate surrounding Dodger Stadium into a money maker, succeeding where their predecessors failed.
Officials in Sacramento, California, are furious that the owners of the Kings basketball franchise, the Maloof family, said they are backing out of a handshake deal in February to invest $73 million in a project to build a new arena downtown.
As you watch the Super Bowl Feb. 5, spare a thought for the taxpayers in the host city of Indianapolis. The stadium in which the game will be played has been financed largely at their expense and, like so many sports venues built with public money, the cost just keeps growing.