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Pensions and bureaucracies strangle Los Angeles, panel says

No changes have been proposed to city pensions, which the commission said now consume 18 percent of the city budget, up from 3 percent in 2003.

By James Nash | Updated on April 11, 2014

April 11 (Bloomberg) — Los Angeles’s future is threatened by a sixfold increase in public pension costs and dueling bureaucracies that hinder its ports and tourism, according to a panel led by former U.S. Commerce Secretary Mickey Cantor.

The second-largest U.S. city could be more competitive if the nation’s busiest seaport complex, the ports of Los Angeles and Long Beach, were to merge and regional tourism agencies were combined to speak with one voice, according to the report by the L.A. 2020 Commission.

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