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Mon Aug 12, 2013, 01:16 AM

Schwarzenegger-era real estate deal is focus of lawsuit

Source: Los Angeles Times

Gov. Jerry Brown is embroiled in potentially costly lawsuit over a Gov. Arnold Schwarzenegger-era real estate deal gone bad.

At the center of the legal battle is the Golden State Portfolio, a collection of 11 state office buildings, including two in downtown Los Angeles, that Schwarzenegger agreed to sell to investors for $2.3 billion before leaving office at the end of 2010.

Schwarzenegger launched the deal to help fill a $25-billion deficit in the recession-racked state budget.

But Brown, who took over in January 2011, promptly canceled the sale. He called it a waste of money to sell valuable office space, only to lease back the same property.

Read more: http://www.latimes.com/business/la-fi-capitol-business-beat-20130812,0,2328306.story

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Reply Schwarzenegger-era real estate deal is focus of lawsuit (Original post)
alp227 Aug 2013 OP
JDPriestly Aug 2013 #1
iemitsu Aug 2013 #2
MisterP Aug 2013 #3

Response to alp227 (Original post)

Mon Aug 12, 2013, 03:52 AM

1. Schwarzenegger bankrupted our state and was the worst money manager ever.

Takes Democrats to manage money well.

We balanced our budget by electing a solidly Democratic government.

The Republicans were ruining California.

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Response to JDPriestly (Reply #1)

Mon Aug 12, 2013, 11:59 AM

2. Republicans were ruining California

and the rest of the nation and I'm not sure they are done with their destruction.

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Response to alp227 (Original post)

Mon Aug 12, 2013, 03:10 PM

3. there's always money in the banana stand! nt

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