In the end, the economic condition of a city is due to the combined activity of its citizens. Oakland has shown signs of "emerging" from its economic morass for decades, but it never does. And, as California continues to de-industrialize, I can't see how it ever will.
I'd hazard a guess that, with Quan as mayor, that it certainly won't.
In the late 80s/early 90s I used to work with someone who had a “Newark is on the Move!” calendar; one day I looked at the date: 1966.
They were very patient...