A Banana Republic store on Beverly Drive offers up to 70 percent savings in the store. Wealthy cities such as Beverly Hills, Santa Monica and Newport Beach prepare to cut spending as revenues decline. (Brian Vander Brug / Los Angeles Times)
WIndow shoppers peer into Leon’s Fine Jewelry on Beverly Drive, which is having a sale. (Brian Vander Brug / Los Angeles Times)
A former bakery on Beverly Drive is empty and up for lease. The number of vacant storefronts along Beverly and Rodeo drives has multiplied as the economy has taken a downturn. (Brian Vander Brug / Los Angeles Times)
A gallery on Santa Monica Boulevard in Beverly Hills is going out of business. City officials are projecting a $24-million decrease in tax revenues over the next 16 months. (Brian Vander Brug / Los Angeles Times)
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Passersby are reflected in a storefront window as the former business sits vacant and for lease on Canon Drive in Beverly Hills. (Brian Vander Brug / Los Angeles Times)
