Yale-Rail Loop
HERE’S AN IDEA FOR THOSE WHO ARE DETERMINED TO CHAMPION THE Incredible Shrinking Light Rail project, no matter how small it gets:
Let’s spend a half billion dollars on a track that loops around Irvine City Hall. That way, the rail system can serve the true believers, without veering into neighborhoods that don’t want it. It will actually serve a useful purpose, too, since the parking lot at Irvine City Hall is pretty big and it can be a long walk from one’s car to the building.
And, the supervisors willing, maybe Merrill Lynch can underwrite the bonds.
, Rick Reiff
Not Half Bad
Even in tough times, Orange County has something to brag ABOUT. The county is home to the world’s largest mutual fund as of July 31, Pacific Investment Management Co.’s Total Return Fund.
By the time you read this, Fidelity’s Magellan Fund may have made up ground lost to Bill Gross’ bond fund. And, sure, Pimco has gained at the expense of battered stocks. But that’s not the point.
Pimco’s rise highlights the strength-in-diversity of OC’s economy. During Wall Street’s go-go days, OC counted some of technology’s brightest stars: Broadcom Corp., Emulex Corp., QLogic Corp. In these very different times, Pimco and Allergan Inc. are OC’s stars. That’s not half bad.
,Michael Lyster
TWO-PAPER TOWN
Times, Aug. 14, California section page 1:
O.C. Renews Its Ties With Merrill Lynch
Register, Aug. 14, Local section page 1:
County is still wary of Merrill
