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Gov. Proposes Selling L.A. Coliseum, Other Properties To Raise Cash
LA Times ^ | May 13th 2009

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 ...


TOPICS: Business/Economy; News/Current Events; US: California
KEYWORDS: calbudget; california; cowpalace; forsale; garagesale; lacoliseum; losangeles; medicalmarijuana; ocfairgrounds; sanquentin; schwarzenegger

1 posted on 05/13/2009 5:55:02 PM PDT by Steelfish
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To: Steelfish

Finally something sane.


2 posted on 05/13/2009 5:57:21 PM PDT by Vince Ferrer
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To: Steelfish

Why not put every politician in Sacramento up for sale?


3 posted on 05/13/2009 5:59:16 PM PDT by OldNavyVet
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To: Steelfish

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.


4 posted on 05/13/2009 5:59:59 PM PDT by calcowgirl (RECALL Abel Maldonado! - NO on Props 1A 1B 1C 1D 1E 1F)
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To: Steelfish

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.


5 posted on 05/13/2009 6:00:54 PM PDT by MAD-AS-HELL (Hope and Change. Rhetoric embraced by the Insane - Obama, The Chump in Charge)
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To: OldNavyVet
"Why not put every politician in Sacramento up for sale?"

They already are for sale.

6 posted on 05/13/2009 6:01:14 PM PDT by Czar ((Still Fed Up to the Teeth with Washington))
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To: Vince Ferrer
Finally something sane.

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.

7 posted on 05/13/2009 6:03:48 PM PDT by Yossarian (Everyday, somewhere on the globe, somebody is pushing the frontier of stupidity...)
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To: Steelfish

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.


8 posted on 05/13/2009 6:06:23 PM PDT by skimask (When dealing with people who value death over life, traditional means of deterrence will not work)
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To: Steelfish

What would it cost to enforce immigration laws? Gotta be some cost savings there.


9 posted on 05/13/2009 6:07:11 PM PDT by JrsyJack (ct)
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To: Steelfish
(1) Declare Bankruptcy
(2) Turn all illegals over to federal custody
(3) Announce that all illegals on the street would be turned over to federal custody
(4) Deny children of illegals state benefits
(5) Re-certify and implement mandatory drug testing for the rest on welfare
(6) Abolish the state income, corporate, and property taxes in favor of a universal 10% sales tax to stimulate business growth and revenues
(7) Sell off-shore gas and oil leases
(8) Suspend all state environmental rules and regulations for 3 years, ask the EPA for a waiver, and then undergo a review for cost-effectiveness of all environmental laws (tell the envirowackos to pound sand)
(9) Immediate 15% across-the-board cut in all state programs, bureaucracies, and departments
(10) Hire an outside consulting firm to look for ways to eliminate, consolidate, and reduce the size of state government
(11) Make "California, knows how to party" song by Tupac Shakur the official state song.
10 posted on 05/13/2009 6:07:19 PM PDT by Extremely Extreme Extremist ("President Obama, your agenda is not new, it's not change, and it's not hope" - Rush Limbaugh 02/28)
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To: Steelfish

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?


11 posted on 05/13/2009 6:13:33 PM PDT by elkfersupper (Member of the Original Defiant Class)
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To: Steelfish

De-es-per-aaaaa-shun

Now Arnie’s chum bait

On our nerves he is gra-aaaa-aaa-a ting


12 posted on 05/13/2009 6:17:25 PM PDT by pissant (THE Conservative party: www.falconparty.com)
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To: Yossarian
The government MUST top the feckless bureaucratic spending!

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?

13 posted on 05/13/2009 6:20:36 PM PDT by Vince Ferrer
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To: OldNavyVet

They already are.


14 posted on 05/13/2009 6:22:44 PM PDT by HapaxLegamenon
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To: Steelfish

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.)


15 posted on 05/13/2009 6:25:03 PM PDT by calex59
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To: Steelfish; freekitty; Brad's Gramma; TXRed; Piquaboy; unkus; No Surrender No Retreat; ...

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


16 posted on 05/13/2009 6:33:10 PM PDT by ExTexasRedhead
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To: Steelfish
Sell LA and SF; then CA will not be solid Dem.

vaudine

17 posted on 05/13/2009 6:34:51 PM PDT by vaudine
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To: Yossarian

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?


18 posted on 05/13/2009 6:51:12 PM PDT by tinamina
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To: Steelfish

All three sites could be used for re-education camps for anti-statists, capitalists, the NRA, and FReepers.


19 posted on 05/13/2009 7:05:16 PM PDT by SERKIT ("Blazing Saddles" explains it all.....)
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To: Steelfish

Ok Ahnuld....I’ve got some ocean front property in Arizone and Kansas to trade...How about it??


20 posted on 05/13/2009 7:23:18 PM PDT by jakerobins
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To: ExTexasRedhead
Won't happen. The American people have been subsidising them for years.
21 posted on 05/13/2009 7:35:00 PM PDT by freekitty (Give me back my conservative vote.)
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To: Steelfish

HaHaHaHaHaHaHaHaHa! Tax bowel movements Arnold! Charge a buck a flush. That will raise revenue.


22 posted on 05/13/2009 8:31:49 PM PDT by LeonardFMason
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To: Steelfish

Turn Alcatraz into a tourist trap. Keep the prison; let people sleep in it. Put some great restaurants there.


23 posted on 05/14/2009 4:51:40 AM PDT by Tax Government (Cult Obama? In 50 years he will be an ugly footnote)
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To: Steelfish
Sounds like a good start but they need to cut spending, too.
Everything that is nonessential, that is not police, fire, emergency, water, or directly related to teaching kids in school, should be cut. Cut all the unnecessary school “administrators,” “counselors” and such.
Stop subsidizing the barbarian invaders, too.
24 posted on 05/14/2009 5:26:53 AM PDT by Little Ray (Do we have a Plan B?)
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To: ExTexasRedhead

Liberals do not spend their money, they spend other peoples money.


25 posted on 05/14/2009 6:10:50 AM PDT by Piquaboy (Military veteran of 22 years in Navy, Air Force, and Army.)
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To: Steelfish

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.


26 posted on 05/14/2009 6:38:49 AM PDT by bestintxas (It's great in Texas)
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To: OldNavyVet

Because they have already been bought and paid for?


27 posted on 05/14/2009 6:40:48 AM PDT by patton (Oligarchy is an absorbing state in the Markov process we find ourselves in. Sigh.)
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To: MAD-AS-HELL
I would guess USC would buy it in a heart beat. It needs a lot of work so they could probably get it at a decent price.
28 posted on 05/14/2009 10:29:47 AM PDT by Uncle Hal
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To: ExTexasRedhead

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.


29 posted on 05/14/2009 2:08:59 PM PDT by oneamericanvoice (Support freedom! Support the troops! Surrender is not an option!)
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To: Vince Ferrer

As long as the buyers isn’t a non-American corportation, then fine. I prefer leases.


30 posted on 05/14/2009 2:11:19 PM PDT by oneamericanvoice (Support freedom! Support the troops! Surrender is not an option!)
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To: Uncle Hal

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.


31 posted on 05/14/2009 8:28:37 PM PDT by MAD-AS-HELL (Hope and Change. Rhetoric embraced by the Insane - Obama, The Chump in Charge)
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