Is Los Angeles Going To Offer Tax Breaks and Subsidies With CRA Money For Royal Family of Dubai Investment? (Grand Avenue Project)
Since Grand Ave Project is a City, County & CRA (State) project on City, County and State public land, and the Royal Family of Dubai just invested in the project, does that mean the City and County of L.A. is doing business on public land with an overseas limited monarchy that is part of the United Arab Emirates? Maybe this is all hunky-dory, but I wonder what voters would have said about this business deal on public land and public trust? There is a lot of real estate investment of private projects across the U.S., but this is a City and County project, not just private. (Does that make a difference?)
And keep in mind, the City, County and CRA bent over backwards to offer all kinds of corporate welfare tax breaks/subsidies, only to now benefit one of the richest oil producing families in the world!!! ONLY IN L.A.!!!
There is a lot of talk about stimulating the U.S. economy. But The City of Los Angeles, Los Angeles County and LA CRA are also helping to stimulate the economy of Dubai. First bend all the rules and give away the farm to the rich developers...THEN, have profits sent over to Dubai. (So the profit isn't staying in the country.) Maybe for a private deal this ain't a problem, but this is our local government sending the profits out of the country in some experimental, concocted public/private partnership. (Anything for The Broadfather!)
Click here for more coverage including article by Walter Moore on LA City subsidizing an investment of the Royal Family of Dubai.
zumadogg@gmail.com
Labels: bill witte, cahoots with villaraigosa, cityof los angeles, CRA, eli broad, for dubai, grand avenue project, related cos, subsidies, tax breaks
Posted by Zuma Dogg @ 2/24/2008 05:56:00 AM
9 Comments:
Consider,
The global gold price now looks set to break $950 an ounce.
Analysts say oil prices, which currently exceed $101 a barrel, were one of the main causes of the gold price surge. The surge also came after the US sub prime mortgage crisis dented our financial market, sent the economy towards a recession and weakened the dollar. Despite the Federal Reserve’s four interest rate cuts and $150 billion in government spending to repay taxes to local businesses, the economy remains in turmoil...moreover, the US inflation rate climbed 5.1 percent in January.
You idiot. Do you really think YOU scared CalPers out of a deal about which you know nothing?
How fucking stupid and egotistical can you get?
Glad to see I got the reaction out of you I was looking for. Of course CalPERS pulled money due to my warnings. After all, first I warned...then they pulled. If they knew it was such a bad deal, why did they invest. I think it was only after my blogging and phone calls that they became aware of the problem. (Glad I could help, retirees!) yeah, yeah....activism at it's finest!!! It took ZUMA DOGG TO SAVE THE CALPERS FUND!
All in a days work of a public advocate.
But seriously, if nothing else...you gotta admit, the biggest moron on the planet called it months in advance, then it happened. (WHERE ELSE IN THE CITY DID ANYONE WRITE ABOUT THIS CONCERN IN ADVANCE???) So you gotta admit, not a bad thing to figure out on my own, and go out on a limb blasting over...only to be as right as my May '07 subprime crisis prediction.
(I KNOW...I DON'T KNOW HOW I DO IT...I just get a "five minutes to Wapner" Rainman feeling, and I know that's it. TRIUMPHANT VICTORIOUNESS, Y'ALL!!!
Better go watch the "We are the Champions, You are the Chumpians" video, loser.
I wish just once I was wrong, so I would know what it feels like to be you.
Meanwhile, how is CalPERS doing with their downtown Forest City, Little Tokyo and other high end housing projects they invested in.
I don't know much,but I heard they are sitting vacant, while property values drop, and will continue to drop.
I sure hope CalPERS wasn't "overweight" downtown luxury housing. If so, the time was un-impeccable.
Who says we don't have legalized gambling in LA??? There is McFarlane/CalPERS rolling the dice on high risk bets. Too bad the roulette wheel came up on "double zero" this one time.
Ralph Nader running for president
The consumer advocate is launching a third-party campaign again, he announced Sunday on NBC's "Meet the Press."
"Just when I thought that I was out, they pull me back in,"
Godfather IV
Yeah right, you chowder head. Eat ya spinach fat head.
What happened
Budget Deficit?
1057
NO ONE CARES!!!!!
SHUT THE HELL UP ALREADY!!!!!!!
Why?
Why would Royal Family of Dubai want negative publicity?
First our jobs go overseas, now our money. What next, wave the white flag of surrender at the Islamics and illegals?
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