January 17, 2013 |
Gov. Jerry Brown's new budget projects paying off $28 billion in state debt. But the debt actually totals hundreds of billions of dollars. Possible solutions to paying off the whole thing? Maybe we could start by nationalizing Apple. ALSO: Beware busting the budget Photo gallery: Ted Rall cartoons Obama's gun control push: Big, broad and brassy Follow Ted Rall on Twitter @TedRall
August 25, 2012 |
Manchester United's decision to go public this month by selling shares on the New York Stock Exchange is another reminder that the financial foundation of European soccer remains in desperate need of repair. Man-U is among the most storied and iconic brands in global sports - and after being valued at $2.2 billion, it's also the most expensive sports franchise in the world. The New York Yankees are relative upstarts when compared to Manchester United, which started play in 1878, a decade before Jack the Ripper claimed his first victim.
December 14, 2012 |
WASHINGTON -- Fix the Debt, a coalition of business executives and policymakers advocating for sweeping deficit reduction, will release its first television ad Sunday, marking a new phase in the group's efforts to influence the fiscal debate. Formed five months ago as an offshoot of the Center for Responsible Budget Priorities, the nonprofit group has assembled a roster of influential politicians - including Los Angeles Mayor Antonio Villaraigosa and New York City Mayor Michael Bloomberg--and major business leaders.
June 5, 2012 |
WASHINGTON -- The Congressional Budget Office warned the nation's public debt load is projected to hit dangerously high levels by September - roughly 70% of the nation's gross domestic product -- a milestone not seen since World War II, underscoring the crucial decisions facing Washington and the candidates in this presidential election year. The report Tuesday from the nonpartisan budget office throws into stark terms the challenges facing the U.S. economy and the dangers of congressional inaction.
CALIFORNIA | LOCAL
June 5, 2013 |
Two alleged pimps - accused of smuggling a Mexican woman into Orange County and forcing her into prostitution to pay off the debt of an ill family member - were arraigned Wednesday on charges related to human trafficking and prostitution, prosecutors said. Victor Lara Romero, 32, and Gustavo Romero Clemente, 35, have each been charged with one felony count of human trafficking, one felony count of pimping and one felony count of pandering, according to a statement from the Orange County district attorney's office.
May 8, 2011 |
Dear Liz: About two years ago, I bought a new car but was lied to about how much it would cost. After a year I simply could not afford the car and could not refinance as I was incredibly upside-down. The auto lender wasn't willing to help, so I did a voluntary repossession. Nissan came after me for the balance remaining after auction but eventually wrote it off as a bad debt (this shows on my credit report). The debt has been sold twice to collection companies that call me on my cellphone and at work but don't leave messages.
CALIFORNIA | LOCAL
February 19, 2013 |
Former Democratic presidential nominee Michael Dukakis and his wife, Kitty, are helping with a "debt retirement" fundraiser for Rep. Brad Sherman (D-Sherman Oaks), who last fall won one of the most contentious -- and most expensive -- House races in the nation. Dukakis, a onetime Massachusetts governor who also helped Sherman raise money during the campaign, and his wife will be guests at a reception Thursday at a home in Studio City. Sherman defeated longtime Rep. Howard Berman (D-Valley Village)
CALIFORNIA | LOCAL
August 7, 2010 |
The small and cash-strapped city of Bell is on the hook for a $35-million bond debt that voters didn't approve — and that the city can't afford to pay off, The Times has learned. The debt, which Bell took on three years ago to buy land near the 710 Freeway, is more than twice the size of Bell's annual operating budget. Come November, the city could lose the land to foreclosure. The city's hope to profit from the purchase fell apart in 2008 after city officials failed to conduct basic environmental reviews.
February 4, 2010 |
Moody's Investors Service has downgraded $1.7 billion in bonds for the Alameda Corridor Transportation Authority, which oversees the 20-mile rail route built to speed the flow of cargo from the ports of Los Angeles and Long Beach to retail shelves across the U.S. Moody's on Wednesday lowered ratings on the senior lien bonds to A3 from A2 and subordinate lien bonds to Baa1 from A3. It also put the ratings on a watch list for possible further downgrades....
June 27, 2012 |
BERLIN - As European leaders gather in Brussels on Thursday for a two-day summit aimed at resolving the Eurozone's debt crisis, German Chancellor Angela Merkel's response to the most aggressive proposal pushed by her neighbors is, in essence: Over my dead body. With borrowing costs for Spain and Italy approaching unsustainable levels, European Union leaders have stepped up their pressure on Germany to accept solutions it has long resisted. But Merkel, whose country has Europe's largest economy and probably will foot the highest share of the bill for rescuing its struggling neighbors, has dug in her heels.