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Meanwhile, the negative economic ripple effect of cuts to the Los Angeles civil courts could result in a nearly $30 billion hit to the local economy over the next four years, according to a study commissioned by the Los Angeles Superior Court. According to the study, the legal services industry would take an estimated $13 billion loss and businesses operating in uncertainty, because of pending civil disputes, would accumulate another $15 billion in potential losses. The decline in economic activity would then result in an additional $1.6 billion in losses...
...courts, which make up 2% of the state budget, have thus joined the slash-and-cut regimen that has befallen school districts, cities, and social services across California as the state deals with a $21 billion shortfall this year. (That comes on the heels of last year's $40 billion deficit.) (See how California's crisis has hit its prized universities...
Walmart, the world's largest retailer, has seen better days. Yes, profits rose 22%, to $4.63 billion, in the fourth quarter of '09. Even coming out of the Great Recession, many consumers are trading down to shop at the discount superstore. However, for the third straight quarter the store saw negative same-store sales growth; during the last three months of 2009, same-store sales dropped 2%. Overall traffic in Walmart stores was down too. To Walmart executives and investors, this disturbing trend has to be reversed; despite the earnings growth, Walmart's stock fell 1.1% on the day earnings...
...very intelligent young woman," Khafif says. "Sometimes I think she's even smarter than her dad about certain things." The contract was signed and the project was launched in New York City in 2006 - the same day authorities back in the Latin American nation announced a dramatic $5.2 billion expansion of the Panama Canal. (See a multi-media presentation of Panama's vote on expanding its historic canal...
That security crisis will top the agenda when Calderón meets this week in Mexico City with Clinton and other officials from the U.S., which is funneling some $1.5 billion in antidrug aid to Mexico. Calderón will also be the guest of honor at a White House state dinner on May 19. Mexico will probably always be "so close to the United States" - but for the sake of its future as well as Latin America's, it's a good thing that it's decided to get closer again to the world beyond its other borders. - With...