Explaining Southern California's economy

Reportings: Obamanomics in Cali; Carlyle and Calpers; AEG is cocky and carbon neutral

California has the second-highest unemployment rate in the nation. Yet when polled by USC Dornsfire/Los Angeles Times, 49 percent of voters said that cutting government spending is the path to prosperity. "Stimulus is almost a four-letter word here." (LAT)

  

Major private-equity player the Carlyle Group wants to go public. Competitor Blackstone has a market cap of $13.4 billion. Carlyle wants to be in that league. And the "giant California pension fund Calpers has owned at least a 5.5 percent stake in the firm for several years." Cash-out time? (DealBook)

 

Environmental backlash to AEG's fast-track, allegedly carbon-neutral NFL stadium legislation. "Well, what would you expect to happen when a bunch of cocky bizjocks from L.A. insist on a bill that would exempt them from many of the legal hurdles that everyone else must go through - including developers looking to build stadiums in other parts of the state?" (Lacter/LA Observed)

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