California needs a 7 billion dollar loan to make things happen, even though California is the first state to join the annual CeBit technology trade show.
The funds for some areas could run out as early as the end of October, including some potential healthcare and education facilities and programs. We finally just have a budget here, but it doesn’t sound like we have enough. BD
“In a letter sent on Thursday to Henry Paulson, the US Treasury Secretary, Mr Schwarzenegger, California's governor, made clear that his state was running out of money because its usual borrowing channels had suddenly closed.”
SANTA CLARA, Calif. – The folks behind CeBit, the biggest technology trade show in the world, typically dedicate sections of the event for specific countries. Today, in the heart of Silicon Valley at Intel headquarters, California became the first state to join the event that takes place every March.
It's a coup for Governor Arnold Schwarzenegger, who hopes to raise the state's profile overseas at a time of economic uncertainty. "It's a terrific opportunity," he said, noting California is virtually a nation/state with the eighth largest economy in the world.
"We don't want just the traditional tech companies, but the newer ones like Facebook," Scheer told InternetNews.com. "For me, as an entrepreneur, it's very important to get the innovative startups so we can learn from each other. The startups can benefit from collaboration with larger companies for sales channels, funding and other resources."