Skip to comments.Gov. Proposes Selling L.A. Coliseum, Other Properties To Raise Cash
Posted on 05/13/2009 5:55:01 PM PDT by Steelfish
Gov. proposes selling L.A. Coliseum, other properties to raise cash
Other state assets that could be put on the block include San Quentin State Prison and the Orange County Fairgrounds. The move could raise between $600 million and $1 billion, according to a proposal.
By Michael Rothfeld May 13, 2009
Reporting from Sacramento -- Gov. Arnold Schwarzenegger wants to sell the Los Angeles Coliseum, San Quentin State Prison, the Orange County Fairgrounds and other state property to raise cash amid the state's growing fiscal crisis, according to a copy of a proposal reviewed by The Times.
Sale of the properties, to be included in the governor's revised budget plan on Thursday, would raise between $600 million and $1 billion, although it would not provide relief to state coffers for two to five years, according to the proposal.
Governor: Budget shortfall could reach $21.3 billion if ballot measures fail
Other items on the list for potential disposal include Cal Expo, site of the state fair in Sacramento; the Del Mar Fairground; the Cow Palace in Daly City; and the Ventura County Fairgrounds.
It's not clear whether lawmakers would be willing to part with the real state the governor has identified. Proposals to sell San Quentin and the Coliseum have not advanced in the Legislature in recent weeks.
(Excerpt) Read more at latimes.com ...
Finally something sane.
Why not put every politician in Sacramento up for sale?
Better idea: CUT SPENDING.
Using income from sale of assets to prop up ongoing programs
just pushes the same problem a year or two to the right.
Maybe the NFL will buy the coliseum, NOT!
And why is it that anything having to do with USC is always for sale? Football players...basketball players, their coaches, and not their home stadium.
They already are for sale.
The government should not be selling off assets that they inherited just to pay for feckless bureaucratic spending.
The government MUST top the feckless bureaucratic spending!
With regards to assets, public officials are only trustees. Dumping an asset does not necessarily mean it's the smart thing to do. One might be able to make a case regarding the Coliseum and the Fairgrounds - but a jail?
No, this is putting the cart before the horse. Fix the spending problem, immediately.
I doubt that selling the Coliseum will do much to cure the deficit. Potential buyers will probably make the Governor pay them to take it off the States hands.
What would it cost to enforce immigration laws? Gotta be some cost savings there.
Now that he and his cronies have bankrupted businesses, forced others out of the state and the country and are busy nationalizing whatever is left, who would buy it?
Now Arnie’s chum bait
On our nerves he is gra-aaaa-aaa-a ting
Of course they should, and they will still have to.
However, this is the best chance since the great depression to roll back some of government's power. While at the federal level things are heading left, everything from the states down has to contend with economic reality, which will soon mean the triumph of fiscal conservatism. Let them sell off their bloated assets. If I have to fly into LAX, I'm not going to care if it is city owned or private, just that it works. Does the city of Denver really need to own a ski area? Would people stop skiing there if it was private?
They already are.
I think they should sell the capitol building and fire the governor and both houses , sh**can all the useless bureaus and outlaw all government Unions(such as fire, police, education etc.)
Let Arnold beg for donations from his Hollweird friends, Liberals who always tell everyone else that they should give. How about the Oprah, Streisand, Sean Penn, and the rest of the bleeding heart Liberals. Let them open their bank accounts for the good of the people of the state of California. Let them put their money where their Liberal mouths are! LOL
I agree about the spending....
But San Quentin is uniquely situated in Marin County with beautiful views of SF Bay...The people of Marin County would love to have that very valuable piece of property to build mansions on. I think they have been lusting after it for years. Besides, they hate having a prison in thier backyard, you know?
All three sites could be used for re-education camps for anti-statists, capitalists, the NRA, and FReepers.
Ok Ahnuld....I’ve got some ocean front property in Arizone and Kansas to trade...How about it??
HaHaHaHaHaHaHaHaHa! Tax bowel movements Arnold! Charge a buck a flush. That will raise revenue.
Turn Alcatraz into a tourist trap. Keep the prison; let people sleep in it. Put some great restaurants there.
Liberals do not spend their money, they spend other peoples money.
Why not ask back some of the federal lands the goons in Sacramento supported?
If you can tax ‘em they can raise money for you.
left in govt hands, they are worthless as revenue-raisers.
Because they have already been bought and paid for?
My FRiend, I don’t think you realize that what you are purposing is the same attack on the rich that the liberals are mounting. The limo liberals pay their taxes in the same way we do. Therefore, it is not encumbant of them to pay more.
If the reforms that Schwarzenegger proposed a few years ago had been adopted, the state wouldn’t be in as big a hole as it is currently. It would also take a reining in of the out-of-control legislature.
As long as the buyers isn’t a non-American corportation, then fine. I prefer leases.
The Coliseum is estimated to be worth $400 million. I doubt USC has that amount of money unless some of it’s more wealthy alums pitch in to buy it. But don’t hold your breath on seeing that happen.