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Peikko Grand Master

Peikko   1,575

Posted
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Posted (edited)

Schwarzenegger signs up to state 'garage sale'

By Matthew Garrahan in Los Angeles

Published: August 28 2009 20:19 | Last updated: August 28 2009 20:19

Arnold Schwarzenegger has come up with a novel way to raise funds for cash-strapped California. He has ordered officials to sell surplus state property, with some of it signed by the movie star-turned governor to increase its value.

Under the "Great California Garage Sale", thousands of items including signed cars, bookcases and even dentist chairs are up for grabs on Ebay and Craigslist. A warehouse in Sacramento, the state capital, is open for business this weekend where furniture and electronic goods will also be available.

Buyers who fancy themselves as a latter-day Erik Estrada, star of CHiPs, the 1980s TV series, might be tempted by one of the California Highway Patrol motorcycles on sale. A surfboard, racing bicycle and antique piano are also on offer to prospective buyers.

California is the US's biggest economy. Yet it has fallen on hard times and recently averted a budget crisis by agreeing billions of dollars in spending cuts.

The proceeds for the garage sale will not come close to offsetting the need for spending cuts, but it should generate useful funds. About 500 cars are being auctioned, along with computer monitors, earrings, surfboards and other unclaimed property.

"This is a win-win for the state and for shoppers," said Mr Schwarzenegger. "Together we are eliminating waste and providing great deals in this tough economy."

The idea for signing some items to increase their value came from one of Mr Schwarzenegger's 900,000 followers on Twitter. Like other US politicians he has embraced the social networking site and this week set up an online forum where Twitter users can send him other revenue and policy ideas.

Mr Schwarzenegger visited the Twitter California headquarters this week where he was interviewed by the company's founders. He also used the site to reveal that he kept the sword he used in the Conan the Barbarian movie in his office.

The garage sale comes weeks after California agreed a budget deal to close a $24bn (€17bn, £15bn) deficit. The state came close to fiscal meltdown and had to issue $2.26bn of IOUs to state workers, local governments and other creditors in lieu of cash.

However, California this week closed a $1.5bn deal with JPMorgan that will allow the state to pay off the IOUs on September 4.

Copyright The Financial Times Limited 2009. You may share using our article tools. Please don't cut articles from FT.com and redistribute by email or post to the web.

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Edited by Madame Cleo

Refusing to use the spellchick!

I have put you on ignore. No really, I have, but you are still ruining my enjoyment of this site. .

Ban Hammer Grand Master

Ban Hammer   13,643

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Filed: Citizen (apr) Country: Brazil
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Posted
Copyright The Financial Times Limited 2009. You may share using our article tools. Please don't cut articles from FT.com and redistribute by email or post to the web.

:lol:

* ~ * Charles * ~ *
 

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USE THE REPORT BUTTON INSTEAD OF MESSAGING A MODERATOR!

one...two...tree Grand Master

one...two...tree   2,762

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Filed: Country: Philippines
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Posted
What a joke, if I was in California I would want to do a recall vote on the current Governor, the guy is a total joke and will go down as one of the worst California ever had! :wacko:

Really? How long have you lived in the states? For a Ukrainian, you sure seem to pretend to know all about American politics.

Otto Grand Master

Otto   83

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Filed: Lift. Cond. (apr) Country: Germany
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Posted
What a joke, if I was in California I would want to do a recall vote on the current Governor, the guy is a total joke and will go down as one of the worst California ever had! :wacko:

Really? How long have you lived in the states? For a Ukrainian, you sure seem to pretend to know all about American politics.

Doh!

Nagishkaw Grand Master

Nagishkaw   510

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Filed: Lift. Cond. (apr) Country: Egypt
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Posted (edited)

Let's ask him....why do you hate Austrians?

Edited by Nagishkaw

Don't just open your mouth and prove yourself a fool....put it in writing.

It gets harder the more you know. Because the more you find out, the uglier everything seems.

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thepizzadude Proficient

thepizzadude   26

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Filed: Lift. Cond. (apr) Country: Philippines
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Posted
Let's ask him....why do you hate Austrians?

Yah, inquiring minds want to know...

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Twisted K Mentor

Twisted K   2

Posted
Filed: IR-1/CR-1 Visa Country: India
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Posted
What a joke, if I was in California I would want to do a recall vote on the current Governor, the guy is a total joke and will go down as one of the worst California ever had! :wacko:

Really? How long have you lived in the states? For a Ukrainian, you sure seem to pretend to know all about American politics.

And...

393-ownedbypolice.jpg

Give Generously, Live Fully, Laugh Often, Love Completely...AND PRAY ALWAYS!!!

He is home!!!

 

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