Which Way, L.A.?
Brewer's Leaving LAUSD; Tribune Files for Bankruptcy
The auto-industry bailout is now down to $15 billion, but the Big Three and the UAW are making drastic concessions. Why didn't Wall Street have to do the same thing? Plus, on a busy day in Southern California, the LA School chief steps down, the LA Times is involved in bankruptcy and that state nearly runs out of money.
By Warren Olney • • 1h 0m ListenThe auto-industry bailout is now down to $15 billion, but the Big Three and the UAW are making drastic concessions. Why didn't Wall Street have to do the same thing? This story on our rebroadcast of today's To the Point. In Part II of our show, LA School Superintendent David Brewer wants a buyout, the Tribune Company, which owns the LA Times, files for bankruptcy, and California is just about out of money.
Photo: David McNew/Getty Images
In this episode
4 storiesFederal Bailouts and Double Standards
Two hundred workers are staging a sit-in at a Chicago factory after the Bank of America cut off the company's credit. The bank got $25 billion in taxpayer funds, but the workers only got three days notice of termination. Now they're symbolic of the double standard for federal bailouts of Wall Street compared to other sectors of the economy. …
Read the story30 minBrewer Wants LAUSD Board to Buy Out His Contract
Last week on this program, Los Angeles Unified School Superintendent David Brewer said he was not considering stepping down . Today, he asked the elected school board to buy out his contract, to prevent what he called the "current debate" about his leadership from becoming an ethnic issue.
Read the story5 minLos Angeles Times Declares Bankruptcy
It's been less than a year since Sam Zell bought the Tribune Company , which owns the Los Angeles Times , in a deal that cost $300 million of his money and $13 billion in debt. Even then, it looked like a shaky proposition and since then there's been round after round of layoffs and cuts in service. Today, Zell's Tribune Company filed…
Read the story15 minTreasurer Says No Public Works Money until Budget Is Passed
The State Assembly and Senate convened today in a rare joint session to deal with an $11.2 billion deficit. Governor Schwarzenegger says if there's no action soon, the debt will be $2 billion greater by next month and the state will run out of money by February or March.
Read the story8 min
