Jul 2nd, 2009 - Reuters
Related topics:
(Recasts, adds comment, Federal Reserve comment, background,byline)
SAN FRANCISCO, July 2 (Reuters) - As California marked itssecond day of a new fiscal year without a budget agreement, thestate government moved ahead on Thursday to issue billions ofdollars in "IOUs" in order to avoid a cash crisis.
California faces a financial stranglehold after lawmakersfailed to balance the budget by the start of the state's newfiscal year on Wednesday, leaving a $26.3 billion deficit.
Related stories:
Michael Jackson funeral arrangements in chaos as family's plans axed
Jul 3rd, 2009 - Telegraph
Fans who had gathered outside the ranch 150 miles north-west of Los Angeles believing they would be allowed to see the body were left disappointed after Jackson's family said there would be no event there.
Hope for California budget deal as 'IOUs' planned
Jul 2nd, 2009 - Reuters
* Democrats drop demands for tax hikes in budget * Top Republican lawmaker now expects progress toward deal * State sends 'IOUs' to preserve cash for priority bills (Recasts...
Jermaine Jackson: 'The World Wasn't Ready for Michael'
Jul 2nd, 2009 - People
With tears in his eyes, Michael Jackson's older brother Jermaine described Thursday how he had learned of his brother's death on June 25. After getting a tip from a friend...
Michael Jackson And Neverland Ranch: A History
Jul 1st, 2009 - MTV
While Michael Jackson's memorials will not be taking place at his Neverland Valley Ranch as had been originally announced, the world's attention has been focused on the pop singer's renowned compound in Los Olivos...
CALIFORNIA: Farewell to Farrah Fawcett
Jul 1st, 2009 - ChicagoTribune
ISLAMABADDETROIT - CALIFORNIAFarewell to Farrah FawcettFarrah Fawcett's longtime companion Ryan O'Neal (left) serves as a pallbearer Tuesday as her casket is taken into the Cathedral of Our Lady of the Angels in Los Angeles...
Related videos from YouTube:
3:22California Budget Impasse: Shame on the Democrats.
California, as every year, is deadlocked on passing the State Budget. This year, California has begun issuing IOUs until the state budget is passed. The Republicans delight in blaming the ...
2:03July 9 Biz Minute
customer experience. The Securities and Exchange Commission is going to recommend that the IOUs being issued by California be regulated by the Municipal Securities Rulemaking Board as a form of municipal debt ...
