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Great Recession Spurs City and State Asset Selloffs
Economists describe a wave of municipal fire sales as Newark sells 16 buildings including Newark Symphony Hall and police and fire HQ to cover a $80 million deficit. Cities and states explore privatization and leasing to cover billions in shortfalls, withChicago, New York, Wisconsin, Ohio, and California debating or pursuing asset sales and leases to balance budgets.
MENTIONED IN THIS ARTICLE
New York
Newark
Newark Symphony Hall
Transit Authority
Madison Avenue
Grand Central Terminal
Wisconsin
Louisiana
Ohio
Boston
Obama
China
Yves Smith
Scott Walker
Koch Industries
Koch
Philip Ellender
Illinois’ Pension Fund
Actuaries
Enron
Microsoft
Bill Gates
Center For Budget and Policy Priorities
Detroit
Omaha
Cory Booker
Booker
Essex County Improvement Authority
Britain
York
California
Jerry Brown
Arnold Schwarzenegger
San Francisco
Department of Education
Associated Press
Brown
New York City
Hipster Haven
Lower Manhattan
Bloomberg
Naperville
Ill