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L.A. Business This Week

     
Thursday | May 6, 2010
     
  IN THIS ISSUE

This Week At The Chamber
Read the latest happenings

Member News
Read good news from Chamber members

Hot Issues
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  COMING UP AT
THE CHAMBER
 
     
  FRI | May 7
Education & Workforce Development Committee Meeting
Featuring Assemblymember Julia Brownley (41st District)

more info
| register


TUE | May 11
Referral Network
more info | register

TUE | May 11
Transportation & Goods Movement Committee Meeting
Featuring Metro CEO Art Leahy
more info | register

THU | May 13
The Connection Point
Take Control of Your Career!
more info | register

TUE | May 18
Health Care Committee Meeting
Featuring Assemblymember Hector De La Torre
more info | register

View all upcoming events on our Web Calendar

 
     


OVERHEARD
 

"Alice Waters created the California style of pizza, Wolfgang Puck made it famous, and we came along and capitalized on it."

— California Pizza Kitchen
Co-Founder and Co-CEO
Larry Flax
, at the Occidental Petroleum Power Hour Series Thursday at the Chamber.

  MEDIA HIGHLIGHTS  
 

Los Angeles on the Brink
of Bankruptcy

Wall Street Journal, May 5
Read more

Beacon Economics forecasts little growth for L.A.
Los Angeles Times Money & Company blog, May 5
Read more

Possibility of government bubble looms over economic recovery, economists say
Whittier Daily News, May 5
Read more

California rejoins Race to the Top race, sort of
Los Angeles Times, May 4
Read more

Governor Schwarzenegger Remarks At California World Trade Week
Gov Monitor, May 4
Read more

 
   
 


THE PATH TO ECONOMIC RECOVERY. Nearly 500 business executives and members of the diplomatic corps gathered Monday for the 84th Annual World Trade Week Kickoff Breakfast at the Los Angeles Marriott Downtown. Gov. Arnold Schwarzenegger received the California Global Ambassador Award for his unwavering commitment to expand international trade opportunities and promote California in global markets. "The Chamber has been a great partner of mine ever since I came into office," Gov. Schwarzenegger said. "We have done so many projects together and I wouldn't have been able to do the kind of things that I have done." Dr. Abraham Lowenthal, Robert F. Erburu professor of Ethics, Globalization and Development at the University of Southern California, received the prestigious Stanley T. Olafson Award. Above, Chamber President & CEO Gary Toebben, California Global Ambassador Award Winner Gov. Arnold Schwarzenegger and Chamber Board Chair Matt Toledo, Los Angeles Business Journal. View remarks from the event and photo gallery.



"What's Next LA" Economic Forecast predicts a slow recovery in California

The Chamber partnered with Beacon Economics and Pepperdine University's Graziadio School of Business and Management for the "What's Next LA" Economic Forecast at the Los Angeles Airport Marriott Wednesday. "I will support Gary [Toebben] in every opportunity he has to create jobs in Los Angeles," said Brad Kemp, director of regional research at Beacon Economics. "If we can enhance and improve our education system in L.A., then we can really compete on a global stage." Speakers including Beacon Economics' Chris Thornberg, above, California Inspector General Laura Chick and L.A. Vice Mayor and Executive Officer of Economic and Business Policy Austin Beutner said that while the economic recovery is picking up, it will require patience — and time. Read more about what was said on Twitter @LAAreaChamber. Contact David Eads, 213.580.7546 or deads@lachamber.com.

Chamber opposes City Council motion that would place moratorium on rent increases

The L.A. City Council will consider Councilmember Richard Alarcon's anti-business motion to place a three-month moratorium on rent increases at rent-stabilized units in the City during Friday's Council meeting. This would prohibit apartment owners from implementing a three percent annual increase — the maximum permitted under current law. The Chamber opposes placing additional financial burdens on rent-controlled property owners, especially in light of the City Council’s recent approval of a 4.5 percent LADWP electricity rate hike. The Chamber joined dozens of small business property owners at City Hall Wednesday to oppose the motion during a committee hearing.
Contact Beverly Kenworthy, 213.580.7531 or bkenworthy@lachamber.com.

California Connections participants explore the Sacramento-San Joaquin Delta
California Connections participants heard about the challenges of supporting the residents in the Sacramento-San Joaquin Delta region while continuing to supply the State with water as they continued their excursion in the Bay Area with a trip to the Delta Friday. "Water has always been an emotional issue in this state," said Metropolitan Water District of Southern California and Southern California Leadership Network Board member Margie Wheeler. The California Connections initiative will expand in 2011 to include issue-intensive leadership seminars on greater Los Angeles, San Francisco and the Silicon Valley, the Central Valley and the San Diego cross-border regions in order to facilitate statewide civic engagement and build new relationships. Read more about the California Connections launch on Twitter @SCLN. Contact Kevin Cottrell, 213.580.7577 or kcottrell@lchamber.com.



good news
 

JPMorgan Chase to open 18 branches in L.A. County; more than 90 statewide
JPMorgan Chase will open about 90 new branches and add more than 1,200 new jobs to better serve California bank customers in 2010. Chase will open more than 35 new branches in Northern California and almost 50 new branches in Southern California. "California is an important and growing market for Chase and we will continually invest in the people, facilities and technology needed to serve California consumers and businesses well," said Pablo Sanchez, who manages Chase's branch network in the Western U.S. The company employs almost 17,000 people in the state and plans to invest $10 million through grants to California nonprofits in 2010. Read more.

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  MEMBER SPOTLIGHT
 
 

 


 
 
 

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  HOT ISSUES  
 
 

L.A. City budget crisis
Chamber Board members recently met with L.A. City Controller Wendy Greuel to understand the latest on the City's budget challenges. Greuel's major priorities include strengthening the City's emergency reserve fund, implementing multi-year budgeting, pursuing public pension reform and creating more public-private partnerships. The City Council is currently working on the fiscal year 2011 budget, based on the draft issued by Mayor Villaraigosa two weeks ago. The Chamber is pushing hard on all four priorities, as well as funding for the proposed Office of Economic Analysis to help City officials make better economic decisions in the future. Read more.

Community Redevelopment in L.A.
Chamber Board Member Ken Fearn, Integrated Capital, LLC., a city commissioner for the Community Redevelopment Agency, recently outlined next steps to help the business community and CRA to work in a more collaborative, effective manner. This is a prelude to a larger discussion with the full Land Use Committee on May 26. Register now for the meeting.

 

 
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HR Tip of the Month

Is it permissible for employees to skip their lunch or break periods in order to leave early?

No. The California Labor Code invokes penalties against the employer if it fails to provide a meal or rest period. There are two exceptions to this rule: (1) if work hours do not exceed six hours in a day and (2) for shifts exceeding 10 hours in a day, the second meal period may be waived.

 
  MEMBER SPOTLIGHT
 

 

 







The Los Angeles Area Chamber of Commerce is the voice of business in L.A. County. Founded in 1888, the Chamber promotes a prosperous economy and quality of life in the Los Angeles region. For more information, visit www.lachamber.com