“ G OL DE N B U S I N E S S OP P ORT U N I T I E S ”
The Business Journal Official Publication of the Pico Rivera Chamber of Commerce • December 2009 • www.picoriverachamber.org
Steven's Steakhouse Hosts Chamber's Annual Holiday Lunch
CalChamber Economic Advisory Council Report
Trend Slows in California While U.S. Economy Begins to Improve
Many economic statistics for the nation turned sideways or up during the past summer months, a definite improvement over the dismal reports of last winter and spring. Reflecting the underlying trends, the government's initial estimate of gross domestic product (GDP) in the third quarter came in at a +3.5 percent annual rate, a welcome change following four quarters of decline. Progress was widespread in the third quarter, though not yet universal. Consumer spending, exports, residential [l-r] Omar Martinez, Chamber Treasurer Cheryl Romero, Pico Rivera investment and government spendSheriff's Lt. Steve Sanchez Pico Rivera Councilman Bob Archuleta (raffle ing all increased. Collectively they basket winner, Archuleta donated to Lt. Sanchez), Chamber Administra- contributed +4.9 percentage points tive Assistant Elena and Chamber President Alex Saulus. Photo courtesy of Oscar to third quarter GDP growth. Castillo. Private-sector inventories were reMuch has changed since then duced by an estimated $131 billion By Brian Hews and, given the turnout and enlast quarter, a somewhat slower thusiasm at their latest gathering, pace than in the spring quarter. The history of Steven's Steakthe same can be said for the Pico This change had the effect of addhouse goes back to the early 50's Rivera Chamber of Commerce. ing +0.9 percentage points to the when the famous restaurant was Over 100 members, guests and economy's growth rate. However, known more as a roadhouse stop., on the downside, reduced business spending for new plant, equipment and software and higher imports sliced -2.2 percentage points from GDP growth last quarter. Inflation Trends Favorable In a bit of positive news, recent trends on the inflation front have continued generally favorable. Excluding food and energy, consumer inflation rates are running at about 1.5 percent. However, energy prices, which had declined markedly from the highs set a year ago, increased over the summer. Recent crude oil prices have reached the $75/ barrel to $80/barrel range, compared with under $50/barrel El Rancho High School's El Rancho Choraleers entertained members and guests with many holiday songs. Photo courtesy of Oscar Castillo. offering terrific steaks and drinks to tired travelers going north and south on the I-5 and from Firestone Blvd. It has been there so long and is so well liked that they named the street it is on after the restaurant.
city dignitaries were present for the annual Chamber Christmas party at Stevens, and, as Mayor Greg Salcido said during his opening remarks, it was the first time that
in March. In California, regular gasoline is priced around $3/ gallon, well below the mid-2008 peak of almost $4.60/gallon, but above the $2.20/gallon common this past spring. California Economy Still Weak California's economy continued to weaken during the past quarter, though the downturn has slowed. The state lost at least 940,300 nonfarm jobs between December 2007 and September 2009, a distressing figure. About 85,000 jobs disappeared in the July-September quarter, but this was smaller than the first quarter plunge of 252,300 jobs. California's unemployment rate rose to 12.2 percent in September 2009 from 7. 8 percent in September 2008 and 5.9 percent in December 2007. The latest jobless reading was the highest since World War II. Other broad-based indicators also paint a gloomy picture. Personal income earned in California decreased by -3.3 percent during second quarter 2009 compared to second quarter 2008 (latest data available). A year earlier that figure was +3.2 percent. This has been the first three-quarter decline in personal income since quarterly data were recorded. Problems in the state's construction, manufacturing and finance sectors accounted for much of the drag on the state's earnings growth. Taxable sales have weakened substantially since early 2007. By second quarter 2009, the estimated year-to-year decline had fallen well into double digits. Sales See ECONOMY Page 7
Transition in Pico Rivera City Council
See LUNCH Page 4
Upcoming Events:
Business Round Table: Pico Rivera Recycle Water Program A Mi Hacienda Restaurant January 21, 2010 11:30 to 1:30 State of The City February 4, 2010 Time: TBA Casino Night with $10,000 Drawing February 18, 2010 A Mi Hacienda Restaurant Chamber Annual Golf Tournament April 1, 2010 California Country Club
[l-r] Pico Rivera Councilman David Armenta, Mayor Pro Tem Bob Archuleta, Mayor Gregory Salcido and new Councilman Gustavo Camacho at the transition in Council Chambers at the regular meeting this past December 8. Photo courtesy of Oscar Castillo.
2 PICO RIVERA BUSINESS JOURNAL • DECEMBER 2009
TO ADVERTISE CALL 800-901-7211
Message from the President Pico Rivera
Chamber of Commerce PO Box 847 Pico Rivera, CA 90660 (562) 949-2473, Fax (562) 949-8320 info@picoriverachamber.org
Executive Committee President
Alex Saulus
HealthFirst Medical Group Vice President
Jose Medina
Funeraria Del Angel/Morrow
This is a great time of the year. The Christmas carols, the lights, decorations, the parties, good food and spending time with friends and family. My Christmas shopping is done and now I can take some time to relax. Alex Saulus As I sit in my favorite chair I can’t help but reflect on this past year. I try to evaluate what I have accomplished, what I could have
Vice President
Jim Osborn
Take Advantage of Chamber Services
Whittier Fertilizer
Treasurer Cheryl Romero Preferred Bank Past President
Koko Judge
Director of Sales,Crowne Plaza Hotel at the Commerce Casino
Board of Directors Sylvia Southerland Southern California Edison
Omar Martinez Farmers Insurance
Von Stroff
Extra Space Storage
Sergio Quinones
Cobe Chemical Labs
Adrian Lechuga A Mi Hacienda
Bill Kalpakoff Cal Met Inc.
Oscar Mendoza
Rubio's Mexican Grill
Victor Caballero
Mid Valley Yellow Cab
Ray Chavez
have never crossed by path, exchanged experiences that I can learn from and along the way gained more confidence personally. When you make your TO DO list for 2010 jot down Join the Pico Rivera Chamber of Commerce on your list. Get out of your comfort zone and expose yourself to something different. You will be amazed what a great experience it can be. On behalf of the Pico riveraChamber of Commerce, this Holiday Season may your home be filled with laughter, good food and surrounded by good friends and family.
done differently this past year. One thing for sure is that I have benefited this past year with my involvement with our local Chamber of Commerce. I have also had the opportunity of serving as the President. I have met some really great people, had the opportunity to share my business with others (networking) and met other business owners. I have also had the opportunity to work closely with our local City representatives. More importantly I have gotten out of my comfort zone, I have been exposed to things I would have never known about, met people that otherwise would
The Pico Rivera Chamber of Commerce has assisted businesses in the community since its founding in May, 1958. Its first priority is to help members be successful in business. The Chamber represents Pico Rivera businesses and all local taxpayers at every level of government by supporting beneficial legislation and opposing unnecessary or detrimental legislation. Excessive government regulations must be opposed and an economic climate maintained so that existing businesses will continue to invest their resources in the hope of making a profit. Helping to resolve problems and focusing on the opportunities of the competitive market place continues as the historic function of the Chamber of Commerce. Chamber Services The Chamber, through its committee structure, provides a number of
services, including: • Advertising Campaigns • Referral Services • Grand Openings • Business Community Beautification Awards • Business Publication • Maps • Directories • Business Development Workshops & Seminars As a chamber member you can count on receiving quality service & support for your business. Your Chamber will provide you with: • New Member Listing in The Business Journal (monthly publication) • Classified & Alpha Listing in the online Business Directory • Networking Contacts & Social Opportunities via Participation in Committee Meetings • Membership Luncheons • Business Mixers & Special Events • Referral Service • Coordination of Business Opportunities • Small Business Management Seminars
• Free Business Counseling via SBA SCORE Program • Digest of California Labor Laws • Industrial Directories • Certificates of Origin • Groundbreaking & Grand Opening Ceremonies • Marketing Information • Real Estate Listing Information • Resource Library The Chamber makes this all work by acting as an umbrella over the committees in achieving its goals and objectives. The active participation and involvement of its members, on various committees, is part of the strength found within the Chamber. We invite you to take advantage of your membership and become actively involved.
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Friends of the Pico Rivera Libraries
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Wesley Kruse
Kruse Properties
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Business Journal
To place an ad in the Business Journal call 562-407-3873 for rates or visit www.loscerritosnews.net and click on Pico Rivera Chamber Media Kit.
REMEMBER TO GIVE this Holiday Season to
help poor and suffering souls in our community. Your gift today will let someone in desperate need know they haven't been forgotten YES, I Want to help provide food, shelter and Holiday joy for needy people In our community : $30 for Holiday family food box $35 to help provide toys for needy children $50 to help feed and shelter a hurting family.
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2009 Publication dates July 20, Aug 24, Sep 21, Oct 19, Nov 16, Dec 14
$____ to help as much as possible. NAME ADRESS CITY/STATE/ZIP
Please send your tax- deductible gift to: Santa Fe Springs Corps P.O. Box 2157
12000 E. Washington Blvd Whittier, Ca. 90610-2157 562.696.9562 Donate Online at :
www.salvationarmy-santafesprings.org
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PICO RIVERA BUSINESS JOURNAL • DECEMBER 2009
The Newspaper for Active Seniors
Healthy Living is the only area newspaper dedicated to the interests and
lifestyles of active seniors residing in Los Angeles and Orange Counties.
You can find Healthy Living in community and senior centers, active senior living residences, VFW & American Legion Posts, city halls, bookstores, public libraries, pharmacies, select CVS, Walgreens, retail outlets, restaurants, banks, the waiting rooms of doctors offices, and more. Active seniors represent a growing and powerful segment of the American population, and as such, they deserve their own locally-oriented publication. You will find articles on travel, fitness, self diagnosis techniques, finances, legislation, where to dine out, healthy recipes, and more.
Healthy Living will also spotlight and applaud active seniors who serve others and their communities.
Inaugural edition publishing February 2010. For information call 562.407.3873
3
4 PICO RIVERA BUSINESS JOURNAL • DECEMBER 2009 vibrant and growing Chamber of LUNCH Commerce is good for business, good for the tax base which is obContinued from page 1 viously good for the city”, Salcido
[l-r] Chamber Treasurer Cheryl Romero and President Alex Saulus.
many city personnel and all council members were present together at any event. Salcido drew a similarity between the council lunch gathering and the successful direction the Pico Rivera Chamber is going (and growing). "It is a new day…a new beginning, and we will support the chamber in any way possible to ensure its growth and health. We are here to assist in any way; a
Workers’ Compensation Launches “Bring ‘em Back” Campaign Campaign aims to educate small employers about money available to bring employees back to the job or keep them working following an injury The Division of Workers’ Compensation (DWC) has launched a campaign to help small employers bring their employees back to work or keep them working following workplace injuries. The “Bring em Back” campaign provides the specific information small employers need, in a user-friendly Web site, to apply for reimbursement for purchases they make to help employees stay working while they recover. According to the RAND Cor-
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lus agreed with Salcido about the chamber’s new-found momentum, “we are heading in the right direction, we have turned the corner so
guests were treated to a great lunch (chicken, shrimp and, of course, steak) and a concert by the Choir from El Rancho High School
[l-r] Lt. Steve Sanchez of Pico Rivera Sheriff's, Koko Judge Director of Sales, Commerce Casino, Ray Chavez, city of Pico Rivera.
said. “I think a lot can be said for the attendance and gathering of city officials here today”. Indeed, sitting at the table with him were councilmen Dave Armenta, Bob Archuleta, Gustavo Camacho, City Manager Chuck Fuentes, and Assistant City Manager Jeff Prang; a true testament to the city’s support of the chamber. Chamber President Alex Sau-
to speak. We’ve got a new office, new infrastructure, a great publication in the Business Journal to help publicize our members and the chamber, and recently have signed up over 40 new members, couple that with the tremendous support from the city and business community, and obviously we are very happy and look forward to a prosperous and busy 2010”. After the opening remarks,
singing among many other, such favorite Christmas songs as Silent Night and Jingle Bells. The chamber would like to thank our sponsors: Table Sponsors CalMet Services Inc, Credit Union of Southern California, and the City of Pico Rivera. Entertainment was sponsor by TLC Promotions and the El Rancho Choraleers.
poration, a non-profit think tank, both employers and injured workers benefit when employees return to work quickly following a workplace injury. That’s why the workers’ comp reforms implemented in 2004 placed the emphasis on providing injured workers with sound medical treatment and getting them back to work as soon as possible. It’s also why the state developed an incentive program that helps small employers accomplish this goal by providing up to $2,500 in reimbursements for dollars spent on workplace modifications that bring an injured employee back to the job. Specifically, any employer with fewer than 50 full-time employees, whose employee was injured on the job after July 1, 2004, may qualify for reimbursement of up to $1,250 for workplace modifications that bring a temporarily disabled
employee back to work · $2,500 for workplace modifications that bring a permanently disabled employee back to work Reimbursement can be for any of the following expenses, provided they are prescribed by a physician or are reasonably required by work restrictions laid out in a medical report: (1) Modification to the work site (2) Equipment (3) Furniture (4) Tools (5) Any other necessary costs reasonably required to accommodate your employee's restrictions. Some examples of purchases the state has provided reimbursement for include: · A platform and extended eyepiece for a biological analyst · Custom knee pads for a tile setter · A computer keyboard tray
and document holder for an office administrator. While there are some restrictions in the program, getting reimbursement is as easy as filling out a few short forms and providing receipts. In addition to providing reimbursement for purchases that bring an employee back to work or keep them on the job, the state’s return to work experts are available to provide consultations and presentations for employers or employer organizations on the subject. Questions? Contact the Return to Work Reimbursement Program at (510) 286-6990 or DWCReturntoWork@dir.ca.gov. On the Web at www.dwc.ca.gov. Click the “Bring ‘em Back” link in the right navigation pane.
Advertise to over 1,400 Pico Rivera Area Businesses and Chamber Members! The Pico Rivera Business Journal is direct mailed to every business in Pico Rivera. A PDF version is uploaded online at the Pico Rivera Chamber and Business Journal websites. Also hand delivered to over 30 businesses, City Hall, and the Sheriff's Department.
For information call 562.407.3873
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PICO RIVERA BUSINESS JOURNAL • DECEMBER 2009
5
Members in the News
Rio Hondo College Regional Homeland Security Training Center in Santa Fe Springs Receives $300,000 Rio Hondo College President Dr. Ted Martinez Jr. announced yesterday that Rio Hondo College’s New Homeland Security Training Center will receive $300,000 from the federal spending bill signed by President Obama on December 17, 2009. The federal funds are part of fiscal year 2010's authorization supporting efforts to strengthen Homeland Security programs throughout the nation. According to Martinez, “This new appropriation greatly enhances the potential of our regional training facility and Fire Academy based in Santa Fe Springs, and our ability to further leverage the facilities funding provided by Measure A approved by district voters. This is great news for the College and the region we serve.” Joe Santoro, Dean of Public Safety, said, “The $300,000 will be used to install stadium lighting for the Center to provide 24-hour disaster and terrorism training for all first responders, the purchase of a Wildland Fire Engine and other Center support facilities.” Santoro said “Our goal is to have the finest Homeland Security Training Center in the nation. This $300,000 will help us meet that goal by pro-
viding the best training for all first responders, day and night!” Rio Hondo College is home to the state's largest community college-based Public Safety program that includes a Police Academy, Fire Academy, Wildland Fire Academy and the newly constructed Regional Homeland Security Training Center. Rio Hondo College also offers associate degrees in Administration of Justice, Corrections, Fire Technology, and Wildland Fire. Certificate programs include forensics and emergency medical technician (EMT) in addition to public safety. Rio Hondo Colleges has been a recognized leader in training police and fire service personnel for over 40 years. In 2008, the California Commission on Peace Officer Standards and Training (POST) named Rio Hondo College the best in “Excellence in Training for Organizational Achievement” in California. Rio Hondo College Board President Angela Acosta Salazar said, “Representatives Grace Napolitano, Gary Miller, and Adam Schiff provided valuable leadership in obtaining this funding. Their ability to work together, discuss the merits
of the project with their committee members, and advocate to their colleagues on the House floor were all critical in securing this funding. Rio Hondo College is extremely grateful to each of these fine legislators for all of their effort.” Rio Hondo College's Public Safety programs primarily serve Los Angeles County. However, public safety officers also come to the college from throughout of southern California for training. Los Angeles County is classified as a Tier 1, High-Threat urban area, and has long been in need of a regional training center to coordinate a multitude of training courses that include police, fire services, EMT, search and rescue, public works and civil planners. Currently, training and preparedness in response to all hazards and threats are fragmented because of various municipalities, by nature, have their own public safety services and protocols. This lack of coordination, interoperability, and training leaves Angelinos and Southern Californians at risk of terrorist attacks, earthquakes, wildfires and flooding. Rio Hondo College acquired a three acre site next to the Fire
Academy in Santa Fe Springs to accommodate the Regional Homeland Security Training Center. In partnership with the Santa Fe Springs Fire and Rescue Department, more than $400,000 of advanced training props, funded with Urban Area Security Initiatives (UASI) funds, have been housed at the Center, continuing the College's long standing partnerships with more than 56 fire departments and 86 law enforcement and EMS agencies The Rio Hondo College Regional Homeland Security Training Center will be the model training grounds for the other approved UASI sites in Los Angeles County and the nation. Located in Whittier, California, Rio Hondo College is a collaborative center of lifelong learning which provides innovative, challenging, and quality educational offering - including programs and courses leading to transfer and vocational degrees and certificates - for its diverse students and community. For information on the College or its programs, please call 562-692-0921 or visit www. riohondo.edu.
Citizens Business Bank (VB Financial Corp.) Reports Record Results for Third Quarter 2009 Quarterly Net Income of $19.3 million, highest in company history CVB Financial Corp. (NASDAQ:CVBF) and its subsidiary, Citizens Business Bank, announced record results for the third quarter of 2009. The Company reported net income of $19.3 million for the third quarter of 2009. This represents the highest quarterly net income in the history of the Company.
Net income of $19.3 million reflects an increase of $1.8 million, or 10.66%, compared to net income of $17.5 million for the third quarter of 2008. Diluted earnings per common share were $0.10 for the third quarter of 2009, a decrease of $0.11, or 49.43%, from diluted earnings per common share of $0.21 for the third quarter of 2008. Due to the repayment of TARP preferred stock, current-quarter diluted earnings per common share reflected a one-time, non-cash
The Whole Child Ribbon Cutting/Open House Tuesday Jan. 19, 4 pm The Whole Child, formerly known as Intercommunity Child Guidance Center, invites all chamber members to a ribbon cutting/open house on Tuesday, January 19 at 4 pm. Charlene Dimas-Peinado, CEO explained the reason for the ribbon cutting: “We recently completed a process of re-clarifying our mission, vision and core values. As a result, we chose to adopt a new name, “The Whole Child.” This name honors a 52-year legacy of helping children attain emotional well-being and creating positive outcomes in their lives, “wholeness.” Our growth has been made possible by many generous donors over the years. At this ribbon-cutting, we will unveil a donor wall honoring our donors—
our partners—for using philanthropy to make a meaningful difference in children’s lives. The Whole Child offers a full range of emotional and behavioral health services, as it has since 1957. Building on its legacy, the agency has grown to provide individualized mental health services to nearly 7,000 children each year. “We would like to express our thanks to the community for all your support during this economic downturn. We serve all children, regardless of ability to pay. The ribbon cutting will take place at 10155 Colima Road in Whittier. R.S.V.P. to Cynthia Nickell, 562-692-0383, cnickell@thewholechild.info or www.thewholechild.info.
reduction in net income applicable to common stockholders of $7.6 million, or $0.07 per share. "We are very pleased to report these outstanding results for the third quarter, particularly in these challenging times, said Chris Myers, President & CEO. “Our net income increased 21.82% sequentially, our deposit growth (including customer repos) increased $943.6 million year-over-year, or 26.53%, and our overall credit quality remains sound.â€
Net income for the third quarter of 2009 produced a return on beginning common equity of 15.30%, a return on average common equity of 12.77% and a return on average assets of 1.17%. The efficiency ratio for the third quarter was 52.44%. Excluding the provision for credit losses and the gain on sale of securities, the efficiency ratio was 47.37%. Operating expenses as a percentage of average assets were 1.81%.
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6 PICO RIVERA BUSINESS JOURNAL • DECEMBER 2009 8 PICO RIVERA BUSINESS JOURNAL • JUNE 2009
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City on the Move Pipeline Construction Underway at Intersection of Paramount Boulevard and Mines Avenue
City Adds Bus Stop Cleanup To Street Sweeper Contract
Invest in our city.
Work on a multi-agency storm Boulevard to Manzanar Avenue is captured and used to “recharge” water and recycled water pipeline The remaining three phases will the groundwater supplies. By construction project began today occur from Manzanar Avenue to increasing the amount of usable at the intersection of Paramount Rosemead Boulevard, Rosemead groundwater, WRD can reduce the Boulevard and Mines Avenue. Boulevard to Passons Boulevard, amount of water that needs to be The City Council unanimously The project, which is being suand Passons Boulevard to the San imported to meet the local demand approved adding bus stop cleanup pervised by the County of Los An- Gabriel River Spreading Grounds. for drinking water. geles Department of Public Works Completion of project is expected The second line, consisting of to a street sweeping contract with (LADPW), is a cooperative water in September 2010. much-smaller 8-inch iron pipe, will Nationwide Environmental Serconservation effort between the Access to homes will not be re- be used to transport recycled water LADPW, the City of Pico Rivera, stricted during construction. Work for irrigating schools, parks, medi- vices. the County Flood Control District, will generally occur on weekdays ans and other public landscaping. The council also approved a the Southern California Water Refrom 7:00 a.m. to 3:30 p.m. As This pipe will eventually tie into seven-year "evergreen" component plenishment District (WRD), and noted, work at Paramount and CBMWD’s Southeast Water Relito the contract, meaning if the city the Central Basin Municipal Water Mines will take place from 9 a.m. ability Project (SWRP), a 12-mile District (CBMWD). to 3 p.m. while work along Roselong pipeline extending from Pico ends the contract early, would have To reduce traffic impacts, work mead will occur between 10 p.m. Rivera through Montebello and another seven years guaranteed at the intersection will take place and 7 a.m. southeast Los Angeles County that from the date of termination. only from 9 a.m. to 3 p.m. A Los The first of the two pipelines, will move recycled water throughAngeles County inspector will be the San Gabriel River Coastal out the region. The city has used Nationwide on site during construction and Spreading Grounds Pump StaBringing recycled water into since 1992 and pays Nationwide may be contacted by dialing (626) tion Pipeline, is a 78-inch concrete the community is the single most almost $173,000 annually, accord458-3122 to address any concerns pipe connecting the San Gabriel effective way to conserve the limregarding the work. River and Rio Hondo Spreading ited supply of drinking water. It is ing to the contract, which expires Los Cerritos Community Newspaper Group can handle your direct mail project from design to distribution. The project being constructed Grounds. The Spreading Grounds alsopostal a way to control Whether youis need to mail a postcard, an invitation, or a product catalog, we are experienced with regulations and overall water discountin opportunities, the to most cost-effective along Mines Avenue Pico Ri- so we can arefind used collect local solution storm for your mailing costsproject. because recycled water is less in 2017. over years of experience the direct mail industry, so weand can guide expensive you through the vera. In orderWetohave save a twenty significant water inrunoff, imported water to purchase process to ensure you see the lowest cost and the largest possible return on investment. amount of money and reduce highly treated recycled water that Our mailing services include the following: inconvenience to the public, the then percolates from the surface • Mail preparation (folding, inserting, tabbing) • Printing project will install two separate into the aquifers below ground, • List purchase • Label creation andbeapplication pipelines simultaneously in a single (CASS coming as ground• Address standardization & PAVE,what’s NCOA) known • Stamping • Designing • Response tracking and analysis trench. water. • List management (conversion and formatting) • Fulfillment projects Construction of the project will Having the ability to move proceed in several phases, with water between the two spreadPostcards-Regular, Oversize & Jumbo For your free Shop Pico Rivera coupon bag, the first phase to take place along ing facilities will allow WRD to call the Chamber of Commerce at 562.949.2473. Mines Avenue from Paramount ensure as much water as possible
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ECONOMY
Continued from page 1 declines have been most severe for California's motor vehicle dealers, followed by building materials dealers, household furniture and appliance stores. Sales of gasoline stations also have declined due to lower fuel prices. Though the rate of deterioration may be slowing, the ongoing weakness in personal incomes, corporate profits and taxable sales threatens the state's operations, as tax revenues continue to come in below expectations. The budget package passed in July included several one-time "fixes," and there are concerns about looming deficits in the coming fiscal year. In any event, the decisions taken to date constrain the state's ability to support the economy as well as state-funded activities of local governments and school districts. Employment Decline Employment performance among the state's industries was mostly negative over the 12 months to September. On the plus side, the only major sectors with higher job counts were health care and social assistance, the state government and the federal government. Job counts fell in all other major sectors. Employment declined the most in California's construction, manufacturing, retail trade, administrative and support services, and leisure and hospitality sectors. Together, firms in these five industries reduced payrolls by 495,000 workers, while other sectors reported smaller declines. Water Concerns Water is a serious concern across the state. The recent string of dry years-including 2008- 2009has left storage at very low levels in California's water systems and the Colorado River area. The State Water Project and the Central Valley Project both restricted deliveries in 2008 and 2009. Water that must transit the Delta faces further severe cutbacks. The near-term outcome depends on a new Delta fish plan still being developed by the U.S. Department of Fish and Wildlife, but water allocations to parts of the Bay Area, Southern California and the San Joaquin Valley are likely to be reduced significantly. Already, mandatory reductions in urban water use have been implemented. The Legislature has passed and the Governor has signed a package of water bills to help resolve the state's water problems. Full implementation will require voter approval of $11 billion in new bonds to pay for the necessary improvements. The supply of electricity in California should be adequate in the near term, as industrial demand has weakened in the recession. However, electricity prices are moving sharply higher, reflecting the utilities' costs associated with mandated investments to reduce their environmental footprints and to improve their distribution networks.
PICO RIVERA BUSINESS JOURNAL • DECEMBER 2009
Commercial Sector Troubles California's commercial real estate markets also have developed deep fissures. Specifically, availability rates have risen markedly over the past year, and external development funding has virtually disappeared. The situation is most problematic for retail, office and industrial space. Retail sales have declined, and retailers' access to financing has been limited by the credit crunch. Several chains have declared bankruptcy or closed down altogether, and this trend is expected to continue in the near term. With most lenders unwilling to commit new funds for commercial real estate development, construction of new retail space is plunging. Even so, vacancies are surging and rents are dropping because so many stores are closing down. Most areas in California are experiencing higher retail vacancies. The biggest problems appear to be in Riverside-San Bernardino and areas where large amounts of retail construction took place in recent years. Office Space Demand Falls Demand for office space also has fallen, reflecting weaker employ-
ment trends in most office-based industries. Many firms are reducing headcount and vacating or subleasing space. Vacancies are highest and rising in Ventura County (25. 4 percent), the Inland Empire (23.6 percent), San Diego (21.6 percent), the San Francisco Peninsula (19.9 percent), Sacramento (19.7 percent), Orange County (19.4 percent) and San Jose (19.1 percent). Farther behind but still high, are Oakland (16.9 percent), Los Angeles (15. 6 percent) and San Francisco (15.4
Free H1N1 Flu Vaccinations AltaMed Health Services will be offering free H1N1 vaccinations to high-risk individuals. Those who qualify include: •Pregnant women •Persons living with or caring for children younger than 6 months old •Working in the health care or emergency medical fields •Are between the ages of 6 months and 24 years old •Are living with chronic health problems or a compromised im-
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mune system and are between 25 and 64 years old There will be 1,000 H1N1 vaccines available at each of the following events. Saturday, Jan. 9, 2009 – 8:00 am to 12:00 pm AltaMed Senior BuenaCare Pomona – 5425 E. Pomona Blvd., Los Angeles, CA Saturday, Jan. 16, 2009 – 8:00 am to 12:00 pm & Sunday, Jan. 17, 2009 – 10:00 am to 2:00 pm AltaMed Adult Day Health Care Center El Monte 10418 Valley Blvd., El Monte, CA Saturday, Jan. 23, 2009 – 8:00 am to 12:00 pm Sunday, Jan. 24, 2009 – 10:00 am to 2:00 pmAltaMed Adult Day Health Care Center Golden Age 3820 Martin Luther King Jr. Blvd., Lynwood, CA Please call (877) 462-2582 for more information. Market Your Business & Yourself!
FREE Quarter Page AD! ($250 Value) in the Business Journal Become a chamber member and get a free ad and a 200 word description of your business.
562-407-3873
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8 PICO RIVERA BUSINESS JOURNAL • DECEMBER 2009
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A Reminder Worth Repeating.
Why spend more time being less satisfied with your
access for primary care in most of our offices and have an
medical care? It’s open enrollment season and you should
Urgent Care Center with convenient access in the
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Health Physicians.
Bright Health Physicians is the community’s only medical group linked to Presbyterian Intercommunity Hospital (PIH), the area’s preferred hospital. We provide same day
Convenient Locations in: Whittier | Santa Fe Springs | La Mirada | Norwalk | Hacienda Heights
Call the Bright Health Physicians Information and Referral Service at 1.877.285.DOCS (3627) for more information or to find your own Bright Health Physicians doctor. www.BrightHealth.com