Far West

SAN FRANCISCO - California lawmakers have placed the state's local redevelopment agencies on death's doorstep, but there may be a bigger problem looming.

WASHINGTON - Taxpayers will have to contribute an average of $1,398 per household per year over the next 30 years, either through tax hikes or reduced public services, to fulfill public-sector pension obligations, according to a study released Tuesday.

Seattle will slash $10 million from its general fund budget to close budget gaps through the end of the year.

The Las Vegas Monorail has been given court permission to send its bankruptcy-exit plan to creditors for a vote.

San Jose Mayor Chuck Reed has delayed seeking the City Council's approval to declare a fiscal emergency and for a fall ballot measure for fiscal and pension reform.

California Controller John Chiang said lawmakers will lose pay until a balanced budget is passed because the budget approved by the Legislature last week and then vetoed by Gov. Jerry Brown was incomplete and unbalanced.

Standard & Poor's said Tuesday that California's ratings are at a "crossroad" because of the politics and potential impact of a budget impasse.

Housing groups and bond dealers are urging the Internal Revenue Service not to adopt a proposed change in the way the average area purchase price is determined associated with mortgages financed with the proceeds of single-family housing bonds.

As one dramatic chapter in Regions Financial Corp.'s history ends, another is about to begin.

The Metropolitan Washington Airports Authority announced Wednesday that it has tapped a new leader after a difficult selection process and during a time of controversy about the second phase of its Metrorail extension project.