12/29/2008

The Port of Oakland, Calif., which operates the city's airport and shipping terminals, is facing layoffs, privatization and deferred improvement projects as it struggles with a $12.1 million budget shortfall. As part of a $400 million cost-cutting initiative, a new airport passenger terminal has been scrubbed amid declining demand for air travel. About $11 million of the port's budget shortfall has been attributed to the aviation sector, while the maritime division accounts for just $1 million.

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