A judge on Monday tore up California’s funding plans for what would be the nation’s first bullet train, issuing separate orders that could force the state to spend months or years redrawing its plans for the $68 billion rail line.
Apple Inc. is selling $17 billion in bonds on Tuesday, according to a published report. That would make it the largest corporate bond issue ever.
The State of California has filed a civil case against anyone willing to challenge $8.6 Billion in voter-approved bonds for the high-speed rail project.
One of the nation’s top credit rating agencies will begin a wide-ranging review of municipal finances in California because of what it sees is a growing threat of increased city bankruptcies and bond defaults.
Gov. Jerry Brown said it’s time to pay up. He wants to start reducing the state’s debt and tens of billions more in accounting gimmicks, temporary loans and delayed payments.
The cash-strapped state’s grand plan to sell $10 billion of bonds in order to pay some of its bills has come up against a glut of municipal debt on the market.
SAN FRANCISCO (KCBS) _ Former Giants slugger Barry Bonds will not go to trial for federal charges related to steroid use until next March at the earliest.