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The article reports that the Los Angeles Unified School District in California and New York City are set to borrow about 4 billion U.S. dollars in bond offerings of 1.9 billion dollars and 1.83 billion dollars, respectively. It notes that the offering of New York City includes its debut sale of 800 million dollars in Build America Bonds (BABs). The plan of Los Angeles schools to raise 1.9 billion dollars via general-obligation bonds is mentioned. Also cited is a 900 million-U.S. dollar tax-exempt bonds that is included in the offering of New York City.

Focuses on the development of old factory buildings into apartment buildings with loft apartments in smaller cities in the U.S. Popularity of loft apartments in New York and San Francisco; Increase in the number of conversions of federally registered historic properties as smaller cities focus on revitalizing their downtowns; Federal program which grants housing developers tax credits when redeveloping a historically registered property; Conversion of the RCA Nipper Building by Dranoff Properties in Camden, New Jersey.

Reports on the labor markets of Los Angeles and New York City, the two coastal commercial capitals. Slow to recover from recession; Their unemployment rates which raise the national average; How the two cities have served as a safety valve, preventing wages from beginning to rise; The tight labor market in other United States cities as monitored by the Bureau of Labor Statistics.