City Accepts Stock Options For Land

Oakland, CA, is so aggressive in attracting high-tech businesses it may be the first in the nation to adopt a highly risky strategy. Oakland will get stock options from a high-tech company in partial payment for real estate. Critics say it amounts to gambling with public money. However, stock options are a way of life in this area; landlords even accept them as security deposits. "We're encouraged all the time as local governments to be more entrepreneurial, and that's what Oakland is doing," said David Jones, of the League of California Cities.

Thanks to Abhijeet Chavan