Parade victim of recession

The annual Canoga Park Memorial Day Parade honoring America's fallen service members has fizzled for the first time in decades, a victim of the recession.Dana Bartholomew in the Daily News.

Instead, the host of the procession that has traditionally drawn thousands of onlookers to Sherman Way will hold a Memorial Day street festival instead.

"There will be no marching. I am very sad," said Miguel Fernandez, parade chairman and treasurer for the Canoga Park-West Hills Chamber of Commerce. "It's very simple: It's just a matter of money."