USC’s credit rating takes a hit
Tomo Chien
April 09, 2024
Good morning. It’s Tuesday, and I’m reading about the prettiest road you’ve never heard of in California. Onto the five USC, Los Angeles and California stories you need to know for today.
1.
A major credit agency downgraded USC’s rating, citing the school’s underperforming healthcare system. The move signals a broader reality: Medical arms can bolster a school’s reputation and serve as a major cash cow, but at the same time expose universities to potentially risky financial burdens. That’s especially true as growing expenses have trimmed margins at hospitals since the pandemic. USC’s healthcare system accounts for about 40% of the school’s annual revenue.
2.
Police still haven’t found who stole $30 million from a San Fernando Valley money facility on Easter Sunday, but have scrubbed the scene for fingerprints and DNA. Details are scant. Some neighbors reported hearing a mechanical whirring sound that weekend and others said their internet went out — but it’s not clear if those are related to the break-in. No arrests have been made, and investigators are yet to share any bombshell findings in one of the biggest heists in LA history.
3.
A proposed overnight train between LA and San Francisco got one step closer to becoming a reality. Dreamstar Lines — the startup that proposed the project — formally agreed to enter talks with a major railroad company that could in theory allow the train to use existing tracks in California. Dreamstar says its luxury train will offer private rooms, queen beds, en-suite showers and possibly even the option to ship your car with you. Even more ambitious: The company says it could launch as soon as next summer.
4.
State officials are working to decertify hundreds of police officers accused of misconduct, but basic details in many cases are kept secret. In 2021, lawmakers passed a bill that allowed a state commission to strip officers of their right to work on a police force — an effort to prevent them from evading punishment by simply transferring to another department. But departments are refusing to share why officers are being decertified thanks to a temporary exemption granted by Gov. Gavin Newsom, removing a key component of accountability.
5.
No Instagram account has a hold on the student body like @usc.missedconnections does — and its administrator is moving on. Will Domke, a senior majoring in theater, started the account in 2020 as a way for students to send anonymous messages to their campus crushes. It exploded, and boasts some 11,300 followers today. But now Domke’s graduating and handing off the account to new administrators with some fresh ideas: Like polling people about who you’ve had “the best sex” with and who has STIs — and a few other things that generally sound like quite the treat.
