with 'rent-seeking' tag

there’s an interesting little note in this story about the deal the bonaventure hotel owners are trying to cut with the city because they’re afraid the new convention center hotel being subsidized by the city may cut into their business — the bonaventure itself was subsidized. goose, gander, etc.

and as eric surmised, it appears all of the bonaventure’s saber rattling on this is to get leverage to do a partial conversion to condominiums.

great quote from this article on the fight to cut cotton subsidies from the washington post:

“We have a farm program for two reasons, and cotton doesn't fall into either. One is food security for the American people and the other is national defense,” Grassley said. “Napoleon said an army moves on its stomach. I can’t eat cotton.”

as reported by the los angeles downtown news, the city council has passed a measure preventing new bail bond businesses from opening in little tokyo. while the article cites community concern about the “negative air” such business bring, the people best served by this measure are the existing bail bond business, who will now face less competition. it makes me wonder who spurred jan perry to put the measure up before the council.