A morning roundup of the day’s news.
Uber’s double whammy: Uber’s financial troubles appear to only be getting worse, with a new report this morning that some early investors are looking to sell their shares amid third-quarter losses of $1.5 billion. That sale would drop the company’s valuation by 30 percent, Bloomberg reports. And that’s not all: A federal court hearing Tuesday revealed the company has a team “dedicated to spying on rival companies and ‘impeding’ legal investigations.” The Guardian reports:
The dramatic public testimony, on the eve of jury selection for the hotly anticipated civil trial over allegations that Uber stole trade secrets from Google’s self-driving car spinoff Waymo, came after it was revealed that Uber had withheld evidence, leading Judge William Alsup to delay the the trial indefinitely. ...
“If even half of what’s in that letter is true, it would be a huge injustice to force Waymo to go to trial” as scheduled, Judge Alsup said.
“Waiting on the dream”: Though the endless buzz of self-driving cars may seem to point to a major revolution just around the corner. But today, Jalopnik asks us to think seriously about another possibility: What if it just never happens?
Congestion pricing revival: Nine years after the last formal attempt to introduce congestion pricing in New York City, a new state task force called “Fix NYC” is giving it another go. The idea of charging drivers at peak times—to reduce traffic and generate transit revenue—is expected to be the centerpiece of Gov. Andrew Cuomo’s agenda next year. (New York Times)
Preserving preservation: Congressional Republicans aren’t going to have it easy with their proposal to kill off the federal Historic Rehabilitation Tax Credit, Stateline warns, pointing to similar local efforts that have failed with opposition from mayors, developers, and preservationists who rely on the funds to revitalize historic downtowns.
What to do with vacant lots? California hasn’t seen much action from a tax break intended to spur landowners to transform vacant lots into urban farms or community gardens. So Long Beach is trying a new solution: billing those owners monthly fees, so the city can monitor the lots to prevent illegal dumping or crime. (KPCC)
The urban lens:
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