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Complex financial deals and energy projects cost Vernon millions

Aug 13, 2011 10:17:03 PM- latimes.com
In the last six years, the tiny industrial city has amassed nearly half a billion dollars of debt and lost more than $130 million through aggressive investments and energy projects that one expert called 'too risky.'

The city of Vernon has amassed nearly half a billion dollars of debt and suffered major losses over the last six years in an aggressive pursuit of investments through its electric utility, according to a Times analysis of the city's financial records.


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