Ahhhnuld's California Asset Fire Sale

[marmar]

AP, via the Guardian UK:



SAMANTHA YOUNG
Associated Press Writer


SACRAMENTO, Calif. (AP) San Quentin State Prison. Los Angeles Memorial Coliseum. The California State Fairgrounds.

Gov. Arnold Schwarzenegger's plan to put some of his state's biggest landmarks up for sale to help erase a $24 billion budget deficit is fraught with questions, chief among them: How can California taxpayers possibly get a good deal in this slumping real estate market?

Schwarzenegger, who has also proposed deep cuts in education, health care, welfare and parks, wants to sell off some property outright, sell office buildings and then rent them back from the new landlords, and lease some state land to developers.

"Everywhere I go, I hear stories about families selling off their boats and motorcycles to make ends meet. They have garage sales and yard sales," he told the Legislature this week, offering his rationale for selling assets. "They know that you don't have or keep a boat at the dock when you can't put food on the table."

The governor said California could generate $3 billion from selling seven landmarks and 11 office buildings scattered around the state. ............(more)

The complete piece is at: http://www.guardian.co.uk/world/feedarticle/8544503

[Cleita]

1. Whom does he think wants to buy San Quentin?

Even though it's right on the bay and very scenic, the prison itself is a run down piece of crap that would be too expensive to tear down and rebuild on. For that matter so is the Coliseum, which is also situated in the middle of a run down, high crime neighborhood.

[FirstLight]

2. not only that, but why would anyone buy a prison...?

How can he sell a prison with inmates & all? wtf?

[Cleita]

3. The property would make a nice hotel resort, but the prison is really a

dump and all the steel and concrete that would have to be removed would be very expensive, not your normal demolition. I don't know what they can do with the inmates except to transfer them to other prisons.