Los Angeles Health Commission president criticizes mayor for $1-billion budget shortfall
To the editor: In the film version of "All the President's Men," the "Deep Throat" character advises investigative journalist Robert Woodward to "Follow the Money," and so should Times reporter David Zahniser ("L.A. city budget shortfall grows to nearly $1 billion, with layoffs 'nearly inevitable'," March 19). Just four years ago, as part of the American Rescue Plan, the city of Los Angeles received $1.35 billion. Where did it all go? Obviously not to healthcare. Our Health Commission has never been funded one penny in its 10-year existence.
We didn't have enough firetrucks operational to handle our needs in January and we don't have a full-time physician in charge of our paramedics. Our city's budget was sound until the current administration; why do budget crises always seem to follow Mayor Karen Bass? During her tenure as Assembly speaker, our state had a budget impasse and drowned in red ink. In June 2009, California's credit rating was lowered and even President Obama wouldn't bail us out.
With 80% of the city's expenses labor-related, her agreement less than one year ago to one of the largest general salary increases in the Coalition of L.A. City Unions' history — a 22% increase over a five-year span, including a 6% raise in the first year — obviously was imprudent.
In more than two decades of governmental leadership, it appears that our mayor hasn't learned the basics of business math. If you spend more money than you have, you go bankrupt.
Dr. Howard C. Mandel, Los AngelesThe writer is president of the Los Angeles City Health Commission
..
To the editor: Oh, please! Ever since the COVID epidemic "vanished," parking enforcement has not done its job by ticketing people whose parking meters expired or when cars are parked on street-cleaning days, etc. And police officers have not been ticketing enough people for moving violations. If people would do the jobs they were hired to do, Los Angeles wouldn't be in the mess it's in. While I'm not saying the budget would be fixed, at least money would be coming in from people who break the law.
Liz Brown, West Hills
This story originally appeared in Los Angeles Times.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
USA Today
an hour ago
- USA Today
Who's listening to Negative Nelly? Not these investors. Survey shows they're optimistic.
Who's listening to Negative Nelly? Not these investors. Survey shows they're optimistic. Show Caption Hide Caption The trade war hits stock markets — how can you protect your finances? The global trade war has hit the stock markets — this is how you can protect your finances. Americans may have gotten pretty good at tuning out negative news and predictions, at least when it comes to investing, a Wealthfront survey suggests. Individuals surveyed by investment platform Wealthfront continued investing through the April U.S. stock market volatility stemming from President Donald Trump's tariff back-and-forth, and nearly 30% say they plan to invest more in U.S. stocks in the future. That may seem counterintuitive considering the many dire forecasts for the economy and the stock market from tariff wars, but 'it's also possible that investors are getting better at handling the constant flow of headlines and uncertainties that have shaped the market lately,' said Alex Michalka, head of investment strategy at Wealthfront. Optimism rises In May, 55% of respondents said they were somewhat or very optimistic about the U.S. stock market over the next six months. That's significantly higher than the 42% in April who felt upbeat. The improved vibes are 'likely fueled by the postponement of tariffs and the growing perception that future trade policies could be more moderate than initially anticipated,' Michalka said. Since Trump first announced his aggressive tariff plan on April 2, some of the highest tariffs have been iced as the administration tries to strike trade deals. The latest, and arguably the most significant, talks are occurring this week in London with Chinese officials. Is the worst over? Market volatility isn't necessarily over, and it can be uncomfortable for investors, but it's a fact of life, Michalka said. Once people understand and accept that, it's easier to stay the course and remain optimistic. 'During Covid, stocks went down really fast, but they also came back really fast,' said Nick Bour, founder and chief executive of Inspire Wealth in Brighton, Michigan. 'If you get out, you could miss the big bounce back.' Stocks ended May up 6% and are up again on the year. Additionally, if you took advantage of tax-loss harvesting and dollar-cost averaging during the volatility earlier this year, you may have even done better. Tax-loss harvesting means selling stocks that are losing money, recognizing the loss, and using it to offset capital gains, or profits made from other holdings, even if they are different types of investments or are being held in different accounts. Dollar-cost averaging is buying stock at regular intervals, regardless of whether prices are falling or rising. 'Not only did you buy investments 'at a discount,' you should have potentially valuable losses to use to lower your tax bill come tax time next year,' Michalka said. Medora Lee is a money, markets, and personal finance reporter at USA TODAY. You can reach her at mjlee@ and subscribe to our free Daily Money newsletter for personal finance tips and business news every Monday through Friday morning.
Hamilton Spectator
3 hours ago
- Hamilton Spectator
Milton downtown small businesses seek financial support
Milton's downtown core is home to a vibrant business community, with more than 185 businesses operating in the area — approximately 82 per cent of them classified as small businesses, according to the Town of Milton. The Downtown Milton Business Improvement Area (DMBIA) represents more than 220 business operators and property owners, reflecting the area's dynamic and evolving commercial landscape. However, since the COVID-19 pandemic, many local shops have struggled to recover financially. While public spending habits have shifted back to in-person shopping, many residents continue to favour national chains over local downtown businesses — limiting economic recovery for the small business community. Avery Teal, social media co-ordinator at the Milton Chamber of Commerce, said the Chamber has been working to promote local businesses through various media platforms. 'We've been helping small businesses increase their visibility through platforms like Instagram, TikTok and LinkedIn,' Teal said. 'The goal is to bring more attention to the businesses that make Milton unique.' As part of the Chamber's outreach, Dan Rogers, owner of RX Recourse — a corporate fitness and wellness service based downtown — partnered with the Chamber to produce a promotional video. The video, posted to LinkedIn, featured Rogers explaining his services, including 'Team Building 101.' 'The Milton Chamber of Commerce was kind enough to help me build a commercial to briefly explain what I do,' Rogers said in a post. The video served as a tool to boost visibility for RX Recourse within the local community. In addition to the Chamber's efforts, the Milton BIA partnered with Digital Main Street Ontario to launch a Digital Service Squad (DSS). The initiative offered one-on-one support for small businesses looking to improve their digital presence, including website creation and marketing strategy development. Mira Nasser, events manager at the BIA, said the program offered grants of up to $2,500 for digital upgrades. In total, $80,000 in funding was distributed to support 32 businesses in Milton. Error! Sorry, there was an error processing your request. There was a problem with the recaptcha. Please try again. You may unsubscribe at any time. By signing up, you agree to our terms of use and privacy policy . This site is protected by reCAPTCHA and the Google privacy policy and terms of service apply. Want more of the latest from us? Sign up for more at our newsletter page .
Yahoo
4 hours ago
- Yahoo
Jim Cramer on Home Depot (HD): 'I Think We're in Good Shape'
We recently published a list of . In this article, we are going to take a look at where The Home Depot, Inc. (NYSE:HD) stands against other stocks that Jim Cramer discusses. A caller asked how Cramer thinks The Home Depot, Inc. (NYSE:HD) would perform in the long term. He replied: 'Oh man, I was making calls on Home Depot today because it's starting to roll, and then wouldn't you know it, it pulled back right at the end. I think we're in good shape. I think when rates just stay stable, we'll be fine. I think that the gardening season's coming along fine, but let me just say, people just look at housing starts and they say, let's sell Home Depot. Don't be constrained by that. I think they're going to have a great year. Let's think seven years, not seven days. Thank you, Larry Fink for that. I love that. It was in the FT yesterday.' Home Depot (NYSE:HD) is a retailer specializing in home improvement products, including building materials, home décor, and garden supplies. The company provides installation services for home projects and rents out tools and equipment. Earlier in May, Cramer said: 'Now, not that long ago, we dropped in on a monster Home Depot store management meeting in Vegas where we heard about some great ideas for spring gardening season, which by the way, kicks into overdrive this weekend. Unfortunately, these big weeks for lawn and garden have been overshadowed by stubbornly high interest rates and no rate cuts from the Fed, not to mention tariff worries. Now I've watched this stock since it came public, and there are plenty of times that Home Depot doesn't actually march to the tune of interest rates, but instead is levered to repair and renovation. An insurance broker discussing policy options with a homeowner. As so many people are stuck in their homes, I'm willing to trade up because that would force them to give up that low mortgage rate that they may have gotten during the COVID period. Now we own the despot for the Charitable Trust, and while I'm not expecting a blowout by any means, I have to tell you I like it long term, and it's down 2% for the year, well, off its highs… Home Depot stock is a great one to own because, like Walmart, these guys have the scale to cope with the tariffs that are going to be put on so many foreign-made goods that they sell at Home Depot. The little guys we know, they don't have that kind of flexibility.' Overall, HD ranks 10th on our list of stocks that Jim Cramer discusses. While we acknowledge the potential of HD as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey.
