A just-released report by the Institute of Transportation Studies at the University of California-Berkeley finds that the ridership projections prepared by Cambridge Systematics (CS) for the California high speed rail system are "not reliable." read more »
California
University of California Report Calls Cambridge Systematics High-Speed Rail Ridership Forecast Unreliable
State Auditor Says Only Part of California High Speed Rail Line May be Built
The California State Auditor's report title says it all: High-Speed Rail Authority: It Risks Delays or an Incomplete System Because of Inadequate Planning, Weak Oversight, and Lax Contract Management.
The report, which can fairly be characterized as "damning," criticizes the California High Speed Rail Authority on a wide range of issues, some of which go to the very heart of the project itself. read more »
I Heart Des Moines
Forbes Magazine just released its "Best Places for Business and Careers" list and it's no surprise to me that Des Moines, Iowa just landed in the top spot. Nearly 5 years ago, I'd have said the same thing you may have just muttered. "Des Moines...that's fly over country...who'd want to live and work THERE?" I fully appreciate your logic with our cold winters, humid summers, and ag-centric heritage. read more »
Obama Throws Life-Line to Smart Growth Areas
President Obama has announced a special program of assistance for home owners in the five states that have been hit hardest by the housing crisis. The proposed program is targeted at California, Florida, Arizona, Nevada and Michigan, where house price declines are more than 20% from the peak of the bubble. read more »
Oregon Tries to Catch California – On the way down!
Oregon’s voters will soon give their judgment on Measures 66 and 67, measures that will raise income and corporate taxes in the recession-ravaged state – with unemployment at 11.1 percent, the eighth highest in the nation. Besides leaving the state with the highest marginal rate in the country, tied with Hawaii, more insidiously measure 67 will impose a minimum tax based on sales, not profits, implying an infinite marginal tax rate for low-profit companies. read more »
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Now You Should be Really Fiscally Afraid in California
After reading a recent article I wrote about growing unfunded liabilities for public employee pensions and health care, a reader told me that it made him want to “burn his eyes out with red hot pokers.” Yes, the current situation – expanding debt, growing government, excessive pay and special privileges for government workers, thanks to union power – is not fun to read about. It can be downright scary, when one considers the financial mess that already is looming. read more »
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A Milestone on the Road to Becoming a Third-World Economy
Northrop Grumman Corp started California’s New Year by announcing it is moving its headquarters to the Washington D.C. area. Unfortunately, they are neither the first nor the last major corporation to leave Southern California. It is a trend, one that may not last much longer, though since aren’t that many major corporations still headquartered in greater Los Angeles. read more »
Don't Go Looking for Work in California
The current economic recession has tarnished the Golden State’s employment opportunities in a major way.
A report released on Sunday by the California Budget Project says that two of five working-age Californians do not have a job. read more »
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Go to Oklahoma, Young Man
One of the great migrations of Americans was from Dust Bowl Oklahoma to California during the Great Depression. People came from all over the parched plains to California; South Dakotans, Nebraskans, Oklahomans and others. But only one group had a name. No one called them Dakoties, nor Nebies, but they did call them “Okies.” Their legacy was spread by John Steinbeck’s Grapes of Wrath. read more »
Balancing the California Budget
The battle to find ways to close California's gaping $24 billion budget shortfall continues, with Governor Schwarzenegger calling for deep cuts and reorganization throughout state government. Last week, making a "rare speech to a joint session of the Legislature," Gov. Schwarzenegger argued that the state has "run out of time," and faces a situation where "Our wallet is empty, our bank is closed, and our credit is dried up". read more »
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