Which Way, L.A.?

Los Angeles Community Development Bank Going Bust

In 1992, Los Angeles was struck by America-s worst civil disturbance of the 20th Century. In the aftermath, there were promises to revitalize the inner city with investment and new jobs. One institution designed for the purpose was the Los Angeles Community Development Bank. Although the Bank has lasted longer than the much better-known institution Rebuild Los Angeles, or-ultimately-RLA, now twelve years after its creation, the Bank is on the verge of collapse. Whatever happened to the promise of jobs and investment? Warren Olney discusses past promises and future prospects for LA-s inner city with Fernando Guerra, executive director of the Center for the Study of Los Angeles at Loyola Marymount, and former Rebuild LA co-chairman Barry Sanders. Making News: California Debates Using Altered Rice Crops for Medicinal Use California-s Rice Commission has voted 6-to-5 to approve a protocol for growing genetically engineered rice, not be for eating but for generating pharmaceutical products. It-s also generated bitter controversy. Mike Lee, business reporter for the Sacramento Bee, reports on Ventria Bioscience's new product and promises for its use as well as the rice industry's concerns about its use. Reporter's Notebook: Design Unveiled for California Quarter Governor Schwarzenegger has unveiled California-s new 25-cent piece, two billion of which will be placed in national circulation in January, 2005. On hand for the unveiling was California-s most eminent historian, Kevin Starr. The State Librarian gives us a preview of Garrett Burke's historic design, which features naturalist John Muir and Yosemite's Half Dome.