CALIFORNIA | LOCAL
August 30, 2011 |
Bell's residents already pay one of the highest property tax rates in Los Angeles County despite being one of its poorest cities. Now, homeowners are discovering that their taxes are about to go up again to pay for a park that will never be built. It's one more legacy of the Robert Rizzo era, even though residents thought they had turned a page when the former city administrator was taken away in handcuffs, the last of those accused in a sweeping public corruption scandal were voted out of City Hall, and a new City Council was sworn in. The tax increase is needed to pay back $50 million in bonds issued by the city; it came as a surprise to homeowners who hadn't noticed when the former City Council quietly approved a resolution to increase the property tax rate for three consecutive years.
August 16, 2011 |
The nation's largest foreign currency broker was hit with a $2-million fine and accused by regulators of profiting at the expense of its customers. The fine levied against the broker, FXCM Inc., comes as foreign currency trading is growing in popularity among home investors but also coming under greater scrutiny for the large losses suffered by investors. The $2-million sanction from the National Futures Assn. is the largest single fine ever imposed against a currency broker in the U.S., according to the NFA. The group's complaint said its investigation "revealed a number of deficiencies," including practices that were unequal, inequitable and arbitrary.
July 21, 2011 |
John Edwards' 2008 presidential campaign must repay $2.3 million in federal campaign funds, the Federal Election Commission ruled Thursday. The funds had been paid to Edwards' campaign committee by the Presidential Election Campaign Fund, which matches funds privately raised by a campaign. An FEC audit found that the Edwards campaign received more than it should have because of accounting errors. Such audits are required as part of the matching funds program, and it is not uncommon for campaign committees to be required to pay back some portion of the funds that were received.
CALIFORNIA | LOCAL
April 28, 2011 |
The struggling city of Montebello was hit with another significant setback Wednesday as federal housing officials suspended funding to the city and demanded that it repay a total of $5 million in grants. The news added more financial pressure to a city already facing possible insolvency later this year as well as investigations by state and local agencies into allegations of misspent money and falsified records. In a memo to City Council members Wednesday afternoon, departing city administrator Peter Cosentini said a meeting with Department of Housing and Urban Development officials had reduced him to tears.
February 10, 2011 |
It does not matter where the Lakers and Boston Celtics play each other. That's because the rivalry between the Lakers and Celtics, the two teams with the most NBA championships, is so intense and historic. They will square off Thursday night at the TD Garden, but the venue is not important. Each team has won recently on the other's court. The Lakers won here in the regular season last season, and they won Game 3 of the NBA Finals here in June. And the Celtics defeated the Lakers, 109-96, at Staples Center on Jan. 30 and won Game 2 in the Finals in Los Angeles last year.
CALIFORNIA | LOCAL
November 5, 2010 |
In a blow to the state's civil lawsuit charging eight current and former Bell city leaders with plotting to enrich themselves at taxpayer expense, a Los Angeles County Superior Court judge warned Thursday that Atty. Gen. Jerry Brown's case is in jeopardy of being dismissed. Brown appears to have overreached his authority in the lawsuit, which seeks to force the city leaders to pay back hundreds of thousands of dollars in back salaries and slash their future pensions, Judge Ralph W. Dau said.