The Pension Monster and How Much It’s Costing You to Keep It Fed
Why haven’t Mayor Eric Garcetti and City Council President Herb Wesson followed up on the recommendation by the LA 2020 Commission to “establish a Commission on Retirement Security to review the City’s retirement obligations in order to promote an accurate understanding of the facts” and make “concrete recommendations on how to achieve equilibrium on retirement […]
LA County Parks Tax: The Straw That Broke the Camel’s Back?
On Tuesday, July 5, the County Board of Supervisors voted to place on the November ballot a $95 million parcel tax to benefit the County’s parks. Unlike a traditional parcel tax of $40 on each of the County’s 2.4 million parcels, this new parcel tax will be based on the square footage of improved property […]
LA’s Mayor Flunks the Budget Test
In August, the Los Angeles Times awarded Mayor Eric Garcetti a C for his performance during his first two years in office. While Garcetti received a B+ on his Vision, his overall ranking was dinged by a C- on Leadership and D on Political Courage. Unfortunately for all Angelenos, the “smooth on the podium” Garcetti […]
We Need a New Owner of the LA Times
More than likely, our Los Angeles Times will have a new owner as Gannett, the publisher of USA Today and the largest newspaper publisher in the country, has offered to buy Tribune, the owner of The Times and the Chicago Tribune, in an all cash deal for $15 a share, double the price of Tribune’s […]
LA Metro’s $120 Billion Tax Increase: No Oversight, No Deal
The Los Angeles County Metropolitan Transportation Authority (“Metro”), Mayor Eric Garcetti, and the transportation lobby have started their full court press on the voters of Los Angeles County to approve a new 40 year, half cent increase in our sales tax to a 9½%, one of the highest rates in the country. This new tax, […]
The Homeless Crisis Question that LA’s Political Leaders Run from: How are We Going to Pay for It?
In late February, the City indicated that it was investigating a ballot measure that would authorize a new tax, fee, or bond offering to fund the City’s homeless plans that are estimated to cost $1.85 billion over the next ten years. On March 9, the County’s Chief Executive Officer issued a report outlining five alternatives […]
Does Eric Garcetti Deserve a Second Term?
Although the mayoral primary for the City of Los Angeles is over 400 days away, two credible candidates have surfaced to challenge Mayor Eric Garcetti in the March 7, 2017 election. While their chances of ousting an incumbent who has hauled in over $2.2 million in campaign contributions through June 30, 2015 are remote, they will certainly […]
DWP Reform: Set For Yet Another Burial?
In April of 2014, the LA 2020 Commission recommended that our City establish the Los Angeles Utility Rate Commission to oversee the operations our Department of Water and Power, set policy, appoint the General Manager, and set utility rates. But City Council President Herb Wesson buried this constructive measure in the bowels of City Hall, […]
How Much Will the NFL Pay for Our Eyeballs
The National Football League is considering moving one or two franchises to the Los Angeles metropolitan area, the second largest media market in the country with over 18 million residents in the five county area. Now that downtown Los Angeles is no longer a viable option, the NFL is considering two locations for a stadium, […]
Picking the Wrong Number for LA City Pensions
During the last year’s budget hearings, Los Angeles City Council Members Paul Krekorian, the Chair of the Budget and Finance Committee, and Paul Koretz, the Chair of the Personnel Committee, were pushing to increase the investment rate assumption for the City’s two underfunded pension plans to 8%, up from the current level of 7.5%. This […]