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Company Privatization
L.A.'s Convention Center gamble
L.A.'s Convention Center gamble

Anschutz Entertainment Group becomes the new manager of the Los Angeles Convention Center on Sunday, marking the largest and most significant privatization of a city asset in recent memory. AEG will handle day-to-day operations, but the Convention Center itself will still be owned by the city. The center has been derided as a "white elephant" because it's never lived up to its moneymaking potential and because it's a big, white, boring building in an increasingly hip downtown. Turning over the keys to a private operator probably won't save the city money, given that it will be paying AEG as much as $350,000 a year for its management service. Rather, the hope is...

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