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California plan to sell buildings not a financial panacea, report says

Nov 10, 2010 3:00:00 AM - latimes.com
The plan to generate short-term cash will cost hundreds of millions of dollars more than previously estimated and is equivalent to borrowing at 10% interest, the review says.

California's plan to sell government office buildings to generate short-term cash will cost hundreds of millions of dollars more than previously estimated and is the equivalent of long-term borrowing at 10% interest, according to an internal review prepared for the Legislature.


USA, California: (Latest Stories)