Posted on 12/29/2010 12:51:34 PM PST by SmithL
The California Supreme Court on Tuesday rejected Gov. Arnold Schwarzenegger's request to lift a stay blocking the sale of state office properties until after he leaves office next week, likely sinking the deal.
Gov.-elect Jerry Brown has been critical of the transaction and, as the state attorney general, declined to defend it.
Schwarzenegger and the Legislature last year approved selling 24 buildings on 11 properties to private investors for immediate cash, while promising to lease back the properties for 20 years.
(Excerpt) Read more at sacbee.com ...
Cronies of Moonbeam will soak up the wining and dining from potential buyers, then probably turn the properties over to CALPERs to help ‘re-fund’ the retirement program, and cities who COULD have gotten property tax revenue off these properties will get the shaft, again.
Yep, it's the kind of economic brilliance we've all come to expect from the big AAS.
This was the Austrian’s parting gift to his buds in the New York bond market.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.