Political Footballs: L.A.’s Misguided Plans For A Downtown Stadium
Forbes.com
Over the past decade Los Angeles has steadily declined. It currently has one of the the highest unemployment rates (roughly 12.5%) in the U.S, and there’s little sign of a sustained recovery. The city and county have become a kind of purgatory for all but the most politically connected businesses, while job creation and population growth lag not only the vibrant Texas cities but even aged competitors such as New York.
Rather than address general business conditions, which sorely need fixing, L.A. Mayor Mayor Antonio Villaraigosa and the other ruling elites have instead focused on revitalizing the city’s urban core, which has done little to boost the region’s overall economy in generations. The most recent example of such foolishness is a $1.5 billion plan to build a football stadium, named Farmers Field, downtown,unanimously approved by the city’s City Council and backed by the city’s “progressive” state delegation.