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MY THOTS - In an article this week in the LA Times, Wedbush Securities announced that it's leaving downtown for Pasadena. Another company bites the dust. One has to wonder how much longer this can continue before LA becomes bankrupt. In the 70's, New York City almost went bankrupt--so this is not an outlandish idea. It seems that we are all lost in the pain and problems of the homeless...it seems to be on everyone's mind, with no quick solution in sight----and while solving it is an absolute necessity, so is the need to bring business back to downtown. It took five decades to make downtown vibrant and one decade to destroy it. The absolute failure of Government. It mushroomed under Eric the Useless (former Mayor) and left the current Mayor with practically an unsolvable situation. Homeless has become an industry---the only one that has grown in LA since 2010. The LA Homeless Services Authority continues to expand and has authorized billions of dollars with little to no impact. What's even worse---irrespective of their failure---(it continues to refuse to provide meaningful data to measure their homeless programs) ---and to further pour salt in the wound, they are advocating for a half cent increase in the sales tax--- Measure A--which should be roundly defeated. Lindsay Horvath, who I have dubbed, "Queen of the Homeless" is the Chair of this agency---in pursuit of power and self-importance, she has abandoned her constituency--who will clearly remember this in the next election. I was thinking of starting a GoFundMe Page for her to buy her a cheerleader’s outfit and pom poms. None of this is meant to be funny---and please spare me that I am being mean---many of us are really angry--and when the voices that elect you, you ignore--you reap what you sow.
Kenneth Mejiia--the City's Controller---wrote an intelligent, thoughtful, inciteful letter to the City Council warning of dire financial consequences if the city continues on the same path it's on. I was quite surprised because I thought his only real skill was disrupting City Council meetings before he was elected. His letter is a clarion call for the City Leaders to wake up. One of the latest Headlines--LA Faces serious budget woes as Liability Claims against the City Soar". Earth to anyone--are you listening?
This election also has the office of District Attorney on the ballot. There was once a tv series entitled America's Dumbest Criminals. If they made one for DA's I know who the subject of the pilot could be. Gascon has been an absolute disaster for our city, and he needs to lose. Even his election flyers are filled with idiocy---its states Fighting for Reproductive Justice for All---that's not even an issue. This is California---which understands and ensures women's rights of privacy and choice are assured and legalized---and it states he's a democrat. Ok--but the DA's office is agnostic--party affiliation has nothing to do with committing and prosecuting criminal acts......lame!! Notice---not one law enforcement agency is endorsing him. Maybe he can explain the revolving door he has installed in his office..LOL...Hochman for DA and Yes on Measure 36.
It’s time for our all leaders to really start talking to each other---from all political points of view. The progressives and DSA need to sit with pro-businesspeople to create effective compromises--and make LA vibrant again. You cannot pay for and enact social justice programs without the funds to pay for them. Respect for the law needs to return and make downtown safe---and the homeless need to be off the streets. Another headline--LA's Mansion Tax is not coming from Mansions----because the public was misled--and it’s not the money its raised so far--which is less than 1/3 of what was promised--it’s how many new construction jobs and building projects that have not begun in the city--that's tax revenue the city will not get and jobs that belong here. I could go on---but what's important is that one point of view cannot bring our city back--its everyone in a room---with some difficult conversations---and then a path forward based on compromise---otherwise LA will remain in its downward spiral and continue to be a punchline for City failure.
Election in two weeks---Vote!!
(Fredric D. Rosen is a retired Businessman who has served on multiple corporate (both public and private) and charitable boards. He was Ticketmaster's CEO for 16 years and was responsible for making it the leading ticket company in the world.)
