More than 200 school districts across California are taking a second look at the high price of the debt they've taken on using risky financial arrangements. Collectively, the districts have borrowed billions in loans that defer payments for years — leaving many districts owing far more than they borrowed.
In 2010, officials at the West Contra Costa School District, just east of San Francisco, were in a bind. The district needed $2.5 million to help secure a federally subsidized $25 million loan to build a badly needed elementary school.
Originally published on Mon January 7, 2013 5:33 pm
Lianne La Havas has toured with Bon Iver, sung with Willy Mason and recorded her debut album with producer Matt Hales, better known as Aqualung. More than most, she can attest to the benefits of knowing the right people, but La Havas also has heaps of talent on her side.
The remaining winner of the $587.5 million Powerball jackpot has come forward to claim their share of the prize, according to lottery officials in Arizona, where the winning ticket was sold, according to ABC 15 TV in Phoenix.
The Nov. 28 drawing produced two winning tickets: one in Arizona, and one in Missouri, where Cindy and Mark Hill have already claimed their share of the prize.
Originally published on Fri December 7, 2012 8:05 pm
The Supreme Court has decided to take up cases involving California's Proposition 8, which bans gay marriage, and a provision of the federal Defense of Marriage Act. The justices' rulings on the cases are likely to be announced next June, after arguments are heard in the spring. Advocates on both sides of the issue were welcoming the news.
After African-American and Latino voters turned out in record numbers to reelect President Obama, leaders for both groups are turning up the pressure on him to return the favor.
They say that minorities, who put aside their disappointments with Obama's first term to support him again, now expect the president to spend his political capital on policies that will help their communities begin to recover from the recession. In the post-election euphoria, some leaders claim, certain voters are saying, "It's our turn."
Originally published on Fri December 7, 2012 3:51 pm
Many African-Americans are buzzing about the latest edition of Jet magazine, which for the first time features a gay male couple in its popular section for wedding announcements.
The magazine's Dec. 10 issue display of Ravi Perry and Paris Prince, who held their wedding ceremony in their backyard in Worcester, Mass., is being praised by LGBT activists and some readers as a societal breakthrough given the magazine's reputation for reflecting traditional black cultural mores for 61 years.
As the White House and Congress continue to wrangle over a deal to avoid the "fiscal cliff" and its billions in automatic spending cuts and tax increases, we wanted to take a look at who is spending big to influence the debate behind the scenes.