Los Angeles' Department of Water and Power announced today plans to gut its budget by about $440 million in part by implementing a three-year hiring freeze, effective immediately, in the face of a huge deficit, reports ABC Local. more ›

Last night, LA City Council approved a hiring freeze for the LAPD over the next three months. The freeze is designed to help decrease the city’s budget deficit by saving the city more than $4 million in the coming fifteen months, reports LA Now. more ›

The Getty has a nearly-three-decades-long reputation of being an unabashedly wealthy organization with lofty cultural ideals. Launched in 1982, the Trust was put in place to assure late tycoon J. Paul Getty's vision of bringing art to the people and spreading knowledge. Despite some growing pains (and what billionaire family doesn't have a little scandal now and then?) the Getty, predominantly associated with their two local museums, has remained a stalwart figure in the local and international art scene. But the Getty isn't impervious to the fickle fate of finances, and last December, the Trust revealed that their endowment monies had shrunk by 25%. more ›