$212 million--that’s the shortfall faced by the City of Los Angeles this year. Last week, Mayor Antonio Villaraigosa ordered the elimination of 1,000 city jobs. But even that drastic measure only saves $50-million this year. Where’s the rest going to come from? And with a $484-million shortfall looming next year, what’s the city’s long term financial prognosis? Larry speaks with Mayor Antonio Villaraigosa about LA’s ongoing budget woes.
Larry riffs about the latest news developments in Orange County with Gustavo Arellano, staff writer for the OC Weekly and author of Ask A Mexican, William Lobdell, co-publisher of the Newport-Mesa Daily Voice and Teri Sforza, Orange County Register staff writer.
Long-time OC News contributor Bill Lobdell is starting a new journalism website, iBusinessreporting.com, with Barry Minko, former ZZZZ Best con man who went to prison for a multimillion-dollar swindle. The veteran religion writer and his partner plan to investigate companies they suspect of fraud and corruption and will pay for the endeavor by short-selling many of the companies they are investigating. Larry talks with Bill about his new venture and with an expert in media ethics from the Poynter Institute.
Before becoming Secretary of the Treasury, he was the CEO of Goldman Sachs. Yet, free-market champion Henry Paulson engineered the biggest bank bailout in American history. Recounting closed chamber conversations (including John McCain’s campaign-stopping trip to Washington) and his public statements, Secretary Paulson rewinds to 2008 in his memoir, "On the Brink." Did the Troubled Asset Relief Program violate markets, and reward Wall Street risk-takers? Or was it the unpleasant but necessary policy that staved off financial collapse? Larry Mantle gets behind the scenes with Hank Paulson.
Massive crowds turned out to commemorate the 31st anniversary of the Islamic revolution in Iran, and to hear President Mahmoud Ahmadinejad deliver a speech about the country’s greatness and plans to expand its nuclear program. Meanwhile, opposition leaders say security forces squashed anti-government demonstrators in Tehran and elsewhere. How much political traction does Ahmedinejad have in Iran? And what will his nuclear enrichment plans mean for global security?
Nestled on the Pacific coast and flanked by the Rocky Mountains, Vancouver, British Columbia is one of the most scenic cities in the world. And with opening ceremonies starting tomorrow, it’s also a city swept with Olympic excitement. So what’s the buzz on the streets of Vancouver? And what sporting events are KPCC listeners most looking forward to? Larry finds out.