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Revenue Sharing

October 18, 1985 | Associated Press
The Senate voted 82 to 3 today to approve $4.2 billion for federal revenue sharing to local governments after a 16-hour struggle to meet budget guidelines in the spending bill. Senate approval of the revenue sharing funds was part of a compromise that also included $9.2 billion for veterans' health care. After voting on those two issues, senators passed 76 to 9 a $53-billion appropriations bill for the Department of Housing and Urban Development and 17 independent agencies.
January 28, 2014 | By Jessica Guynn
SAN FRANCISCO -- Yahoo's revenue declined for the fourth straight quarter, walloped by declining online display advertising sales. Shares fell nearly 4% to $36.77 in after-hours trading. Yahoo reported $1.2 billion in net revenue in the fourth quarter, down from $1.22 billion a year ago. The results continued the lackluster record of the troubled Internet company under former Google executive Marissa Mayer, who was supposed to be its salvation. Yet Mayer still has time to turn things around.
March 27, 2007 | Sam Farmer, Times Staff Writer
NFL owners voted Monday to accept the final unresolved piece of the revenue sharing plan, showing overwhelming support for a system that subsidizes the league's lower-revenue teams. The resolution passed by a 30-2 vote, with only Cincinnati and Jacksonville voting against it.
October 30, 2013 | By Andrea Chang
Facebook Inc. had another impressive quarter, reporting strong profit and revenue that soundly beat Wall Street expectations. The world's largest social network said it earned $425 million, or 17 cents a share, compared with a $59-million loss a year earlier. Revenue for the three months that ended Sept. 30 totaled $2.1 billion, up 60% from $1.3 billion in the same quarter last year. Analysts had expected the company to report revenue of $1.91 billion. Revenue from advertising was $1.8 billion, up 66% year over year.
June 1, 1987 | MIKE MILLS, Times Staff Writer
For this community of 700 along the Potomac River, it was bad enough that a devastating flood in 1985 wiped out the apple-packing industry and left 170 people without jobs. Then last year, while Paw Paw was still trying to recover, Congress let the federal revenue-sharing program expire, and the town lost the $11,874 a year it had been using to pay the salary of its lone police officer.
March 6, 1985 | BOB SECTER, Times Staff Writer
Officials from several California counties complained Tuesday that health, welfare and other services they provide would be "devastated" by proposed Reagan Administration budget cuts that would chop revenues to counties in the state by an estimated $500 million in the next fiscal year. About 30 members of the County Supervisors Assn.
As an idea, revenue sharing didn't fly in baseball, but it is alive and well in pro basketball. On the first day of their annual convention this week, pro football's club owners began looking into it Sunday. No NFL owner would talk about revenue plans or possibilities for the record. But a source said that one option under consideration would bring a 28-club sharing of gate receipts and television revenue, with about half going to owners and half to players.
March 12, 1988 | United Press International
A federal appeals court ruled Friday that local governments may not collect $180 million in revenue-sharing funds canceled by Congress as part of its deficit-cutting program. A three-judge panel of the U.S. Circuit Court of Appeals for the District of Columbia reversed a federal district court order requiring the secretary of the Treasury to turn over the money to counties, cities and towns. The case was brought by the National Assn.
March 5, 1986 | LOU FINTOR, Times Staff Writer
Budget cuts proposed by the Reagan Administration will have a "devastating impact" on many public services, including mass transportation, local medical services and road maintenance, a group of California county supervisors predicted Tuesday. Under the proposed elimination of the federal revenue sharing program, the metropolitan Los Angeles area stands to be hardest hit of the state's 58 counties.
April 25, 1986 | KAREN TUMULTY, Times Staff Writer
The Senate, struggling to agree on a fiscal 1987 budget, blocked an effort Thursday to revive the general revenue-sharing program, which is scheduled to expire this year. "If the general revenue-sharing program is eliminated, then there will be no other choice than for local governments to increase property and sales taxes," Sen. Jim Sasser (D-Tenn.) warned.
June 20, 2013 | By David Wharton
For the last few years, the powers that be in college sports have watched nervously as an antitrust lawsuit wends its way through federal court. O'Bannon vs. NCAA is challenging traditional notions of amateurism, arguing that young athletes should receive more than just scholarships for their role in what has become a multibillion-dollar enterprise. On Thursday, the case arrives at a crucial fork in the road. A Northern California judge must decide if thousands of current and former college players can join as plaintiffs in what would become a class-action suit.
June 12, 2013 | By Ryan Faughnder
Clear Channel Media & Entertainment has signed an agreement with the veteran band Fleetwood Mac to share performance royalties from songs played on the radio, the company said Wednesday. The agreement to let the performers collect revenue from plays on Clear Channel's broadcast and digital stations is the first to be negotiated directly with an artist, the company said.  “Reaching an agreement with them is the clearest sign yet that this kind of revenue-sharing model represents the industry's future," Bob Pittman, Clear Channel's chief executive officer, said in a statement.
January 28, 2013 | By Bill Shaikin
The Dodgers officially announced their new television contract with Time Warner Cable on Monday, with the team-owned "SportsNet LA" channel starting in 2014. The deal, pending the approval of Major League Baseball and the possible intervention of the U.S. Bankruptcy Court, covers 25 years and is believed to be worth between $7 billion and $8 billion to the team. The Dodgers declined to comment beyond prepared statements that did not say what non-Dodgers programming the channel might carry, sports or otherwise.
November 8, 2012 | By Helene Elliott
Revenue sharing and the NHL's "make whole" mechanism to pay players the full value of their contracts dominated six hours of conversation Wednesday when representatives of the league and the NHL Players' Assn. met for the second straight day at an undisclosed site in New York. They plan to meet again Thursday, again avoiding media scrutiny as they try to reach a new collective bargaining agreement and end the lockout the league imposed Sept. 15. People with knowledge of the proceedings who were not authorized to comment said that the sides have reached the stage of real negotiation instead of one side expecting the other to capitulate, and that the process will be slow as they test wills.
October 27, 2012 | By Mike Bresnahan
In a quiet moment before the Lakers capped their wildly inefficient exhibition season (eight games, eight losses), Pau Gasol looked down at the floor and sighed. This thing better work. The Lakers are shelling out $100 million for their players this season. Another $30 million must be paid in luxury taxes for the NBA's largest payroll, followed by a projected donation of $49 million to the NBA's new revenue-sharing pool that punishes the haves exponentially harder than the have-nots.
September 12, 2012
What a guy: Rep. Cedric Richmond (D-La.), arguing on behalf of proposals that would enrich his oil-slicked state by directing the federal government to hand over more royalty money from offshore drilling, said Louisiana deserves the cash because it bears the brunt of the risks from oil production. "So that's a sacrifice that we make for people [in places like] California to be able to turn on their lights," he said during a House debate. Thanks, congressman, but really, you needn't trouble yourself.
Amid a heightened pace and the possibility that the players union will set a strike date next week if there isn't significant progress in baseball's collective bargaining talks, lawyers for the players and owners reached agreement on some of the ancillary issues Monday while failing to resolve the core issue of revenue sharing.
May 24, 2012 | By Philip Hersh
When historians of such things seek the moment the U.S. Olympic Committee found a way to forge the agreement Thursday that put the U.S. back in the game as a potential Olympic Games host, they need look no further than Oct. 7, 2009. It was five days after Chicago had suffered a humiliating first-round loss in the International Olympic Committee vote for host of the 2016 Summer Olympics. There quickly followed calls for heads in the USOC leadership to roll. It was the day USOC Chairman Larry Probst got so angry about being called out by some of his constituents, including athletes and the heads of the national sports federations, that he vowed to show them.
November 4, 2011 | By Jessica Guynn, Los Angeles Times
LinkedIn recorded its first quarterly loss since the online professional network's blockbuster initial public offering in May, pushing the stock down more than 8% in after-hours trading. The Mountain View, Calif., company also said it planned to sell as much as $100 million worth of its stock. The loss wasn't as steep as some analysts had predicted. It came as the company increased spending on research and development to attract more users around the globe. LinkedIn lost $1.6 million, or 2 cents a share.
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