Financial storm and one that comes around perhaps one every 50 or 100 years. This is the real thing. And much of what went wrong on wall street could be traced back to something called credit default swaps. They were traded in a risky shadow market, and they were at the heart of the financial meltdown. [ticking] it has tentacles as wide as anything ive seen. I think, next to housing, this is the single most important issue in the United States and certainly the largest threat to the u. S. Economy. Meredith whitney was talking back in 2010 about a then looming financial crisis involving state and local governments across the country. It was a debt crisis which some people believe could derail the recovery and require another big bailout package that no one in washington wants to talk about. The day of reckoning has arrived. Thats it. And its gonna arrive everywhere. Time may vary a little bit depending upon which state youre in, but its coming. [ticking] welcome to 60 minutes on cnbc. I
Here and when we discovered these features back in mid 2012, production on the project was impacted by four months essentially. But since then we have picked up and we are moving ahead full speed right now on the project. We are 35 done with the project. And id like to highlight the fact that the sods 117 million we are asking to you approve today to transfer to the project will only cover the construction, the increase in Construction Costs. There will be a need for increases also what we call the soft costs, delivery costs for the additional 25 months. And there are also significant risks remaining on that project. So, we are at the same time negotiating a final change order for the discovery of those features with the contractors. All that to say that we will need to go back to our commission and to this committee in about april or may. We will come back and seek from you an approval for additional revisions to the program costs. Now, any increases in the program on that project in
And im so happy to have played a part there and i plan to return there. Thank you for acknowledging me. [ applause ] madame clerk, why dont we go to roll call. Supervisor avalos, well call for roll call for introductions. Thank you, madame clerk. Today the Transportation Authority we had discussion about shuttle buses and in the city were see ang increase of the use of shuttle buses both within San Francisco and those that commute to outside of San Francisco. The shuttle buses clearly provide a real benefit around decreasing the amount of trips that are taken by automobiles. Often people who choose to go on shuttles, if they didnt have a shuttle as an option would be in a car driving by themselves. So we know there is really great benefits to the shuttle system. We know were seeing a proliferation of them and we dont quite have a handle in the city how to manage our shuttle the private shuttle fleets in the city, especially as they relate to public space that we have around muni stops.
She has accomplished great things in her own life, raising five children and graduating from the hope sf academy and attained certification in culinary arts. Im very pleased to honor her today. Thank you, miss jones for all of your hard work. [ applause ] i just want to say thank you so much. I really appreciate this. Its a heartfelt moment, and i would like to cry, but im going to miss being at west side because i really enjoyed the work there with the kids. The Youth Program was really, really amazing and im really going to miss them. And im so happy to have played a part there and i plan to return there. Thank you for acknowledging me. [ applause ] madame clerk, why dont we go to roll call. Supervisor avalos, well call for roll call for introductions. Thank you, madame clerk. Today the Transportation Authority we had discussion about shuttle buses and in the city were see ang increase of the use of shuttle buses both within San Francisco and those that commute to outside of San Fran
So, we are at the same time negotiating a final change order for the discovery of those features with the contractors. All that to say that we will need to go back to our commission and to this committee in about april or may. We will come back and seek from you an approval for additional revisions to the program costs. Now, any increases in the program on that project in the program, we will want to compensate by with savings. So, at the same time we are undertaking a very comprehensive assessment of all remaining projects with the goal of identifying savings that will be able to compensate for these known increases that are to come. Listed here are the two actions that we are excuse me, ms. La bonte, supervisor avalos. With the savings well expect there will be a need to come back or to find additional revenue after that or we can actually accomplish this project with savings from other projects [speaker not understood] . What i know for a fact, supervisor avalos, is there will be a