This edition is dedicated to Ralph McKnight, Business Life’s Regional Advertising Manager and Government Affairs Manager for his 10th plus years of being part of our family. Ralph was responsible for marketing, branding and sales for Business Life in the San Gabriel Valley and with his leadership skills was part of the San Gabriel Valley Economic Partnership, Foothill Workforce Development Board and many other chamber civic organizations. He played a positive role in the planning and marketing of Business Life’s Women Achiever’s Gala in 2010 and now for the upcoming event on September 26th. Ralph has a deep pride in “One Community- A Grassroots Think Tank” in Pasadena. A not-for –profit organization dedicated to creating free forums and other events to educate and connect one for information vital to the community. The recent Regional Transportation 101: Where do we go from here? A symposium that covered how transportation contributes to economic vitality, enviromenental, sustainability and livability. Included discussion on the 710 Gap Closure, which is covered in this edition. Ralph was instrumental in having this topic be part of the ongoing dialogue and to be a feature in this issue of Business Life. This topic as well as Healthcare that became our cover feature. Ralph was a true mentor to many individuals, including Greg Krikorian, our executive vice president and my son. Ralph recently had a major stroke and is now in an assisted living facility receiving rehabilitation. Our prays and hopes are with him and Kitty is wonderful wife, on his long journey for recovery. In my recent visit to him, I brought a Souvenir White House hand towel and told him that it was from his Brother in the White House. At the same time I gave him a Khachkar, an Armenian Cross in Stone, and told him it was from his Father in Heaven. He smiled. Next time, I believe I will bring him a set of drumsticks. God Bless for a speedy recovery!
Paul Revere Warnings from Wall Street Journal Headlines:
• “Housing Imperils Recovery” 6/1/11 • “Economic Outlook Darkens” 6/2/11 •“Job Market Loses Momentum” 6/4/11 • “Second-Mortgage Misery” 6/7/11 • “Fed Sees Recovery Lagging” 6/8/11 • “Stocks Swoon, Worry Rises” 6/11/11 • “Wave of Unrest Rocks China” 6/14/11 • “Fresh Greek Shock Waves” 6/16/11
Although the state's unemployment rate fell to 11.7% from 11.8% in April, California still has the second-highest jobless rate in the nation, after Nevada. 'The recovery is going to be slow,' one economist says. LA Times. Closer to home we have received word of cutting jobs at both Disney Studios, Warner Brothers and Medtronic in Northridge, that totals near one thousand. All this while our elected officials in Sacramento are fiddling while California is Burning.
Big Tax Threat Looming around the corner.
A bill expanding local government taxing authority has been approved by the state Senate, and requires a strong response from taxpayers. SBX1 23, carried by Senate President Pro Tem Darrell Steinberg, seeks to dramatically alter California's tax structure by allowing each of California's 58 counties, more than 1,000 school districts, 72 community college districts and 58 county offices of education to propose to voters a local personal income tax, sales and use taxes above the current limits, vehicle taxes, and excise taxes, including, but not limited to, alcoholic beverage taxes, cigarette and tobacco taxes, and taxes on sweetened beverages. The bill is one of the biggest tax threats looming in the state Legislature. For additional information visit www. Cal-Tax.org
Governor Vetoes Main Budget Bill, Legislature Holds Bills Containing Redevelopment Extortion
California cities woke up fighting mad after the Legislature passed a budget illegally eliminating redevelopment and holding agencies hostage if they want to continue to operate. Angered by the passage of a budget that will kill jobs and result in more economic stagnation for California cities and the state as a whole, city officials throughout California began speaking out in condemnation. For additional information visit League of California Cities www,cacities.org
REDEVELOPMENT. MEND IT, DON’T END IT
Coalition Condemns Senate and Assembly Narrow Passage of “Two-Bill” Scheme to Eliminate Redevelopment Legislation Clearly Unconstitutional. Group Will Make Quick Decision on Legal Action if Governor Signs Bills. To get involved and support the program please visit www.jobandsafecommunities.org - www.caez.org -www.etaxgroup.com-www.ci.pasadena,ca.us