Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Bloomberg Customers

Businessweek Archives

Rethinking the City of Angels

? Talk about being leveraged to the eyeballs... |


| Interested in reading about the housing bubble? ?

December 14, 2005

Rethinking the City of Angels

Chris Palmeri

To the rest of the country, Los Angeles is La La Land, a souless, superficial city, dominated by Hollywood and not much else. But the nation's second-largest metropolis is wrestling with many of the same economic challenges as the rest of the country, in some cases sooner. Los Angeles may even serve as a model for what other cities should and should not do. On Dec. 14, the brianiacs who toil by the sea at the Milken Instutute released a comprehensive look at LA, its economy and its future. Yes, the city's banking, aerospace and manufacturing sector have shrunk. Trade-related jobs at its massive port have not picked up the slack. The gap between rich and poor has widened, in large part due to a flood of new immigrants. The Milken group's solution is to emphasize small businesses as a source of jobs, create incentives for them, including tax credits, securitization of small business loans and other sources of community-targeted financing. They say we need to train workers not only in language skills, but for careers in computers, telecom and other growth sectors. Love it or hate it, sprawling, unwieldly Los Angeles is America's future.

07:12 PM


TrackBack URL for this entry:

If computers and telcom were growth sectors, that were. (So last century.)

Posted by: Lord at December 15, 2005 03:13 PM

Growing up in heart of Silicon Valley, LA was universally deemed 'the wrong side of the tracks'. Absurd! A developer lured me to visit Pacific Palisades; was enchanted by irresistible village of small shops and welcoming people. Abandoned lucrative real estate practice, flourished in the Palisades for the best years of my life. Historically cyclical, the economy ebbs and flows, and small business challenged to survive lean times. Despite its financial and employment challenges, the inherently innovative culture of Los Angeles endures. Ultimately, LA is its people. With their intuitive creativity, embracing spirit, whimsical enjoyment of life, LA will continue to shine.

Posted by: cc at December 19, 2005 03:15 PM

I currently live in the heart of downtown LA. What a dump. This is a miserable town. It's a town driven by ambitious wannabe's and a souless beach culture. There is a huge disparity between upper and lower class, with 86% of the households priced out of the housing market. Sure the Palisades are great....if you bought a house there 5 years ago. There a some great little towns throughout Southern California, but they are contributing nothing to the future of Los Angeles.

The allure of the beach lifestyle will prevent Los Angeles from ever being a great city. The influx of people that contribute next to nothing....illegal immigrants, actors,and beach bums. If you want to talk about the real cities on the west coast that will have a significant impact: San Francisco and Seattle.

Posted by: sharkmeat at January 3, 2006 12:41 AM

Tuesday 26th December 2006

One word:Soul-less

Or as the writer Philip K.Dick put it ..something like this he said(i can't find the exact quote right now on the www):

"You would have to prop-up my dead body in the back of a car with a painted clown-smile on my face before i would ever go to live in Los Angeles"

Funny. I hate clowns.

Yet another writer who was disrspected, screwed -over and robbed by Hollywood and is still being disrespectd now; as he gave no written right for the use of his stories and novels to be butchered,manipulated and robbed by Hollywood Film Directors for their own mercenary-gain.

Was he insane!?No. His reckless and ultimately emotionally-damaging use of LSD,however, tapped into a deeply subconcious area of his brain and his feelings, (in primal therapy terms) were manifested as the stories and images and themes he wrote about. His idea of the future?Or his deeply primal memory bank of his past?Who knows?Not me.

Seems to me like he was a nice guy though.

Posted by: MARIANNA JANE CLOSE at December 25, 2006 09:59 PM

blog comments powered by Disqus