California property

The state of California owns an estimated $5 Billion worth of property.

For years, various interests have urged the state Department of General Services to inventory the land and buildings and sell off anything that is "surplus."

Not much has happened, in part because the state doesn't even have a complete inventory. Gov. Arnold Schwarzenegger's performance review of government correctly declared that "the state can't afford to have unused, nonperforming or underused assets on its inventory."

Would you want them running your public school or your health care plan? State Treasurer Phil Angelides has some wild ideas on what to do with the property.L.A.Times