*Budget confusion

First he seemed to sign off on layoffs. Then he backed off. Now, Mayor AV is using the authority of the city charter to announce immediate layoffs of 1,000 city employees to help to balance the city's budget. About 360 employees will be able to transfer to open spots. Villaraigosa says his move will strengthen the city's credit rating and long-term fiscal health. He said the city has to set priorities and make tough choices. Where this leaves the City Council is a little unclear. Just yesterday, it delayed any decision on layoffs for 30 days, a move that would only increase the size of the deficit.

*From Villaraigosa press release:

I do not relish these decisions, but neither will I shy away from them or pretend they don't exist," the Mayor said. "Angelenos all over our City are making tougher choices between food or their prescription drugs, between school supplies and a doctor's visit for their child, or between their electric bill and their rent. It is time that we at City Hall follow their lead, set priorities, and make the tough choices necessary to protect our core responsibilities."

Kevin is at a monitoring a Villaraigosa press conference and will be providing updates. Check LAO.


More by Mark Lacter:
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Amazon keeps pushing for faster L.A. delivery
Another rugged quarter for Tribune Co. papers
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Those awful infographics that promise to explain and only distort
Best to low-ball today's employment report
Further fallout from airport shootings
Crazy opening for Twitter*
Should Twitter be valued at $18 billion?
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Previous story: Toyota resumes sales

Next story: Slight relief on jobs

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Mark Lacter
Mark Lacter created the LA Biz Observed blog in 2006. He posted until the day before his death on Nov. 13, 2013.
 
Mark Lacter, business writer and editor was 59
The multi-talented Mark Lacter
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