Long Beach Mayor Bob Foster was featured on CNBC in an interview about the effects of a struggling economy on “smaller” cities like Long Beach. The mayor discussed industry at the Port of Long Beach, and the city’s housing market. Foster was joined on the show by Mayor Mark Funkhouser of Kansas City, Missouri, another “small” city (i.e. not L.A. or New York).
“Actually, we’re handling this pretty well,” Foster said in the interview.
“This is a problem all over the country. We know that revenue is going to decline somewhat. We know that credit is tight, we know that rates are going to go up. But this is manageable. We’ve been through this before, through the early 90s. We know how to handle this: you keep your calm, you keep cool and you manage this with very prudent tools.”