Compared with most businessmen, 41-year-old Charlie Wilson has some reason to like the economic downturn. President of Salvex, a Houston-based salvage firm he founded in 2002, Wilson has seen huge growth in the bankruptcy business over the past year. It is keeping his 10-person staff, and his 55 agents around the world, busy. read more »
The great Central Valley of California has never been an easy place. Dry and almost uninhabitable by nature, the state's engineering marvels brought water down from the north and the high Sierra, turning semi-desert into some of the richest farmland in the world. read more »
You could say that Ventura County, just north of Los Angeles, represents what is best about California. Some people believe that its amenities – beaches, gorgeous interior valleys and parks – assure perpetual economic growth for Ventura County and California. They are wrong. There is trouble in paradise.
Ventura County has changed, and not for the better. It is aging, losing its demographic as well as economic vitality. This represents a relatively new phenomenon, the slow decline of even formerly healthy suburban areas. read more »
For decades, California has epitomized America's economic strengths: technological excellence, artistic creativity, agricultural fecundity and an intrepid entrepreneurial spirit. Yet lately California has projected a grimmer vision of a politically divided, economically stagnant state. Last week its legislature cut a deal to close its $42 billion budget deficit, but its larger problems remain. read more »
With the exception of African-Americans, the group perhaps most energized by the Barack Obama presidency has been the environmentalists. Yet if most Americans can celebrate along with their black fellow citizens the tremendous achievement of Obama’s accession, the rise of green power may have consequences less widely appreciated.
The new power of the green lobby — including a growing number of investment and venture capital firms — introduces something new to national politics, although already familiar in places such as California and Oregon. Even if you welcome the departure of the Bush team, with its slavish fealty to Big Oil and the Saudis, the new power waged by environmental ideologues could impede the president’s primary goal of restarting our battered economy. read more »
The latest house price data indicates no respite in the continuing price declines, especially where the declines have been the most severe. But no place has seen the devastation that has occurred in California. As median house prices climbed to an unheard-of level – 10 or more times median household incomes – a sense of euphoria developed among many purchasers, analysts and business reporters who deluded themselves into believing that metaphysics or some such cause would propel prices into a more remote orbit. read more »
These are unsettling times for almost all geographies. As the global recession deepens, there are signs of economic contraction that extend from the great financial centers of New York and London to the emerging market capitals of China, India and the Middle East. Within the United States as well, pain has been spreading from exurbs and suburbs to the heart of major cities, some of which just months ago saw themselves as immune to the economic contagion.
Without question, the damage to the economies of suburban regions such as the Inland Empire has been severe. read more »
If you were paralyzed with shock at the October $700 billion dollar Congressional bailout, you may have missed the inclusion of a $478 million-fine-print allotment to Hollywood for tax incentives. A month later, in the midst of California’s on-going fiscal crisis, Governor Arnold Schwarzenegger proposed something called ‘the runaway production provision’, to utilize the bailout incentives to keep entertainment production in California and stimulate investment in motion pictures here. read more »
California’s 32nd congressional district, stretching from East Los Angeles to the eastern San Gabriel Valley, would seem like friendly territory for a Hispanic candidate. Labor Secretary-designate Hilda Solis’s district is more than 60 percent Latino, and there is no shortage of Hispanic local and state lawmakers eager to replace her in Congress. read more »
The most anticipated tourist attraction in the city where I live, The Golden Gate Bridge, is a testament to the lasting utility of a well executed infrastructure project. The world’s most famous suspension bridge still serves as the critical artery connecting San Francisco to the bedroom communities of Marin County to the north, where much of the city’s workforce resides. Remarkably, this marvel of engineering was completed in the late 1930s – a time when the U.S. was coming out of the Great Depression.
The New Deal brought about an expansion of infrastructure that should inspire us. Yet nearly 70 years after its completion, the sobering reality remains: it’s difficult to imagine a project of that moxie being constructed today. read more »