Business Journal October 2022

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SANTA CLARITA VALLEY BUSINESS JOURNAL OFFICIAL
THE
OCTOBER 2022 VOL 14 • No 10 SIGNALSCV.COM/BUSINESS „ Santa Clarita Stock Index „ Keller „ Butler „ Econowatch and More! FAMILY BUSINESS Brent’s Carpet One Plus One
PUBLICATION OF
SCV CHAMBER OF COMMERCE
43 Years In Santa Clarita From Our Family To Yours FLOOR & HOME FAMILY OWNED AND OPERATED FOR OVER 43 YEARS Up To 40% OFF IN-STOCK CARPETS $199 BASIC CARPET INSTALLATION See Store For Details $100 OFF PURCHASE OF $1,500 OR MORE With mention of Signal Coupon CARPET | HARDWOOD | LAMINATE | TILE | STONE | VINYL | WINDOW TREATMENTS 24220 Lyons Ave, Newhall | (661) 255-3337 BrentsCarpetOne.com Financing on approved credit.
CREDIT BROOKE RITTER
PHOTO
PHOTOGRAPHY
Ben Griffiths OWNER
OCTOBER 2022 SANTA CLARITA VALLEY BUSINESS JOURNAL · 3
4 · SANTA CLARITA VALLEY BUSINESS JOURNAL OCTOBER 2022 24 assessor’s office gets top score 9 what makes up a family business 18 built to last 12 i’m in control! Santa Clarita Valley Business Journal (a Signal publication), © 2022, is published monthly by the Santa Clarita Valley Signal newspaper, Paladin Multi-Media Group, Inc., 25060 Avenue Stanford, Ste 141, Valencia, CA 91355. The SCV Business Journal is intended to provide business executives with a cross-section of industry news and information, trends and statistics that impact our growing community. Information gathered in the pages of the SCV Business Journal has been collected from what are considered reliable sources, and is believed to be accurate, but cannot be guaranteed. Articles may not be reprinted without publisher’s written permission. For reprint requests, please call (661) 259-1234. A proud publication of SignalSCV. c om SINCE 1919 CONTENTS NEWS & FEATURES 8 Spotlight: Brent’s Carpet One Floor & Home 9 Top Characteristics of a Family Business 25 Econowatch 26 Stock Exchange LIST 23 Family-Owned Businesses FROM THE EXPERTS 6 Ken Keller: Retaining Your Employees is Job One 12 Paul Raggio: ‘I’m in Control!’ 18 Paul Butler: Built to Last 24 Jeff Prang: Report Card Gives Assessor Top Score SCV BUSINESS VOICES 5 Henry Mayo Newhall Hospital 7 Audiology Associates 10 SCV Economic Development Corp. 11 Poole & Shaffery 13 Pierson Wealth CHAMBER SPOTLIGHTS 14 Chamber News 15 Business Councils 16 Upcoming Events PUBLISHER Richard Budman rbudman@signalscv.com (661) 287-5501 BUSINESS JOURNAL EDITOR Doña Uhrig SALES REPRESENTATIVES Maureen Daniels Jennifer Ramos Barbara Ward October 2022 | Vol. 14 | No. 10

Exercising as You Age Can Improve Your Health

Exercising regularly can help improve the length and quality of your life. Your doc tor can help you decide what types of exercise are best.

Your relationship with exercise might change a bit as you get older. Your body won’t neces sarily run as fast or lift as much weight as when you were younger. Nonetheless, exercise is still important. In fact, exercise is one of the best things you can do to enjoy a longer, healthier and more independent life.

According to the National Institutes of Health, regular, moderate exercise can help:

„ Control blood pressure, body weight and cholesterol levels.

„ Reduce the risk for hardened arteries, heart attack, stroke and, evidence suggests, some cancers.

„ Avoid osteoporosis.

„ Increase flexibility.

„ Reduce stress and sleep problems.

„ Control low-back pain, arthritis pain and diabetes.

„ Relieve some menopause-related changes.

„ Build energy and staying power for activi ties you need or want to do, such as main taining your home or walking with your grandchildren.

CHECK IN FOR A CHECKUP

Depending on your present fitness level, get ting your doctor’s OK to exercise may require no more than a phone call, or your doctor may want to examine you at the office, especially if you aren’t accustomed to exercise.

Always see your doctor if you have, or are at risk for, a chronic condition, such as heart dis ease or diabetes, or if you smoke or are obese.

If you develop problems such as chest pain, severe shortness of breath, dizziness or nau sea, stop what you’re doing and check with your doctor before resuming activity.

BUILD A STRONGER, MORE FLEXIBLE BODY

The National Institute on Aging recommends four kinds of exercise. Some can be performed at home using homemade equipment. Oth ers are better done in a setting with exercise equipment and some supervision.

Strength exercises (such as weightlifting and

pushups) build your muscles, make everyday activities easier and help you avoid falls. You should do these on two or more days a week.

Balance exercises (such as side leg raises and walking heel-to-toe as if you’re on a tightrope) improve balance and help prevent disabling falls.

Endurance exercises (such as walking, swim ming or cycling) increase energy and staying

power by improving the health of your heart and lungs. In general, healthy people should strive for a weekly total of at least two and a half hours of aerobic activity that makes them breathe harder, according to the Centers for Disease Control and Prevention.

Flexibility exercises (like stretching) extend your muscles and tissues to help keep your body limber and prevent falls. „

OCTOBER 2022 5 SCV BUSINESS VOICES

Retaining Your Employees is Job One

Ihave been encouraging my CEO cli ents to focus on retain ing good employees. It is a topic of discussion at every Strategic Advisory Board meeting I facilitate.

There are three questions CEOs to answer when cre ating a supporting strategy to retain.

The first question is, aside from losing experience and tribal knowledge, why do I seek to retain? Second, how do I deter mine who I should focus on retaining?

Third, what can I do to retain the em ployees I want to keep?

The most obvious reason to retain your better employees is cost based. The average cost of recruitment is close to $4,700. Adding hard and soft costs, a $60,000 position could cost $180,000 to fill the job.

Who you should focus on retaining is going to depend on varying perspectives, starting with who your A, B and C players are. CEOs and managers have their own definitions of what those letter grades mean.

I’ve recommended using the 9 Box Grid to rate all employees (see graphic).

Employees are placed using the defi nitions provided and each placement determines future courses of action for management to take.

What I have discovered is that it is easy to identify the Stars and the Low Per formers. The other seven boxes appear to be more arbitrary, but they shouldn’t. Go through the employee list several times to make sure that placement is accurate.

Which leads to question three, what can the CEO do to retain the employees that the company wants to keep?

For starters, there is a book titled “The Dream Catcher” by Matthew Kelly I rec ommend reading. It debunks the thought that all employees want is more money.

When my grandfather immigrated from Ireland, he didn’t ask about the pay, he wanted a better life. So do your employ ees. The work environment you create is key to employee engagement and reten tion.

Research suggests ten motivating fac

9 Box Performance-Potential Matrix

Performance - technical skills, abilities, and subject matter knowledge in job related field; ability to develop and maintain working relationships which incorporate DOHR’s values. Potential - the ability or capacity for growth and development into a leadership role.

- one who guides, directs, influences, and shows the way to others. tors employees desire to have at work:

Appreciation or recognition for a job well done

Being in the know about company matters

An understanding attitude from the management

Job security

Career advancement opportunities

Loyalty from management

Good working conditions

Tactful discipline

Notice where “good wages” is on the list.

Almost every item on this list can be addressed by having a positive, desirable culture that attracts and retains employ

ees who want to work for a company that has a future and a plan to get there.

I don’t mind sharing that communica tion of these items to all employees is essential. Unfortunately, CEOs and man agers do not do a very good job of doing this. A quick example: how many CEOs praise people and the work they do ver sus criticize them?

But let me discuss the elephant in the room.

People working today are impacted by decisions made elsewhere that are reducing everyday purchasing power (food, gasoline). In addition, costs for the essentials for living (rent, utilities) are increasing with no end in sight.

If the money you are paying your em ployees is not meeting their basic needs, the employee will do what is necessary to survive. Don’t wait until they have re ceived a better offer before you match it. Be proactive in your quest to retain.

6 · SANTA CLARITA VALLEY BUSINESS JOURNAL OCTOBER 2022
High Moderate Limited Poor Good Outstanding Poor Performance High Potential Good Performance High Potential Outstanding Performance High Potential Poor Performance Moderate Potential (new role) Good Performance Moderate Potential Outstanding Performance Moderate Potential Poor Performance Limited Potential Outstanding Performance Limited Potential Good Performance Limited Potential Needs Development Meets Expectations Exceeds Expectations 1C 2C 3C 1B 2B 3B 1A 2A 3A
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Leader
Good wages
Interesting work
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Who you should focus on retaining is going to de pend on varying perspectives, starting with who your A, B and C players are. CEOs and managers have their own definitions of what those letter grades mean.

Just like any other technology, hearing aids are always evolving to become more intuitive, perform better, and improve the user’s experience.

When you think about hearing aids, you may picture large, tan, bulky devices that sit on the ear, simply make sounds louder, and create noisy feedback. That’s not the case today. The latest hearing aids are designed to be smaller, more discreet, and compatible with your lifestyle.

In fact, many of today’s devices contain Bluetooth technology. This means that you can stream music, phone calls, and more, directly to your devices. You no longer have to worry about dealing with earbuds or taking phone

calls on the go. Your hearing aids do the work for you!

Depending on the model, Bluetooth technol ogy also allows you to control your hearing aids remotely. This means you can adjust the volume or switch between programs from your phone.

Also, today’s hearing aids process sound dif ferently than those of the past. Depending on your specific hearing loss and preferences, you can get hearing aids that are able to process multiple sounds at once, process the sound of your own voice separately, or focus on the desired sound source. Over the years, experts have identified the common issues people have with their hearing aids and developed de vices that provide an easier and more natural

listening experience than ever before.

If you are unfamiliar with today’s hearing aids — or haven’t tried them out in a while — it’s time to schedule a consultation! Your hearing healthcare professional can go over your op tions with you and help you determine the type of technology that is best for your needs.

To schedule a hearing aid consultation today, please call Audiology Associates at 661-2841900. Kevin Bolder, Au.D and John Davis, Au.D are two of the best in Santa Clarita and San Fernando Valley. Visit our website at www. AudiologyAssociates.net or stop by our NEW office located at 25425 Orchard Village Road, Ste 220, Santa Clarita, CA 91355.

We are hearing healthcare excellence! 

OCTOBER 2022 7 SCV BUSINESS VOICES
Your Grandfather’s
What the Latest Updates Mean for You
Not
Hearing Aids:

Spotlight: Ben Griffiths

Brent’s Carpet One Floor & Home

If you’ve lived in the Santa Clarita Valley for any length of time, you are probably aware of one of our long time family businesses, Brent’s Carpet One Floor & Home (formerly Brent’s Fashion Floors). And the odds are that you’ve done business with Brent’s. If so, you are most likely a loyal customer — for reasons you already know.

Established by Brent Griffiths in 1979 in Newhall’s Apple Valley Plaza, Brent’s Fashion Flooring was more of a happy accident than a dream.

Griffiths was an accountant — and re ally had no intention of working day to day in the flooring business — when he and a partner opened two such locations in 1979. The other guy was supposed to actually run the operation. However, the partnership didn’t work out and Brent suddenly found himself owning, and in charge of, the Newhall store.

Always expecting to sell the store, the operation and responsibilities of life held him there over the years, while his busi ness acumen and customer-first meth ods made him successful.

Brent’s Fashion Flooring joined Carpet One in 1992, and changed locations in 1997 to the corner of Lyon’s Avenue and Wiley Canyon Road. Brent’s Carpet One has been owned by Brent’s son, Ben, and his wife, Natalie, since 2013, when Brent retired.

Ben Griffiths noted, “In the 43 years we’ve been in business, we’ve done more than 40,000 floors in the SCV.”

Helping all those local homeowners truly makes Brent’s a large part of the SCV family, but there are also a lot of Griffiths.

“My father and mother had six kids together, and adopted three more,” Ben said. “And Natalie and I have four boys and a girl.” Those generations of chil dren grew up in the SCV, attended local schools and were involved in local youth sports and other community activities.

“My parents were always involved with our local church and a commitment to

the Boys and Girls Club.” And Ben’s fam ily continues this service. “We do a lot of work for the local church,” he said, “and we donate to people in need through our church and to local charities like Carou sel Ranch.”

The flooring business has also been a family affair over the years. In addition to Ben and Natalie’s involvement, Ben said all of his brothers worked in the ware house during their high school years, and one brother continued working for Brent’s long after that.

For his part, Ben said he attended Peachland Elementary School, Placerita Junior High and Hart High School. He played AYSO soccer and Hart Baseball. And though he did his stint at Brent’s, he also worked a lot of service jobs.

He noted that his parents were al ways very caring people and concerned for others in the community, including Brent’s customers. He figures this and his service job experience, shaped his initial career direction, which was to go into social work. However, that veered some, and he got his Bachelors of Arts in public relations. “I’ve always been a writer, an idea guy,” he said.

When the public relations career ran its

course, Ben found himself in the flooring business, as his father had.

“In 2003, I came to Brent’s to work my way up through the ranks,” he said. ‘I’ve worked in every position here except accounting,” he added. And, as his wife Natalie is an accountant, “I’m lucky I had a ringer.”

Ben said that one of the reasons he became co-owner of the business (with his wife) was that, when his father finally decided to sell it, because Brent was the guarantor on the long-term lease, the lease-holder wouldn’t release it for sale. After some negotiations, the lease exten sion was negotiated with the require ment the business be sold to family.

Ben said that the legacy of Brent’s is a big responsibility. As his full name is Ben jamin Brent Griffiths, “My dad’s name, my name, is on my shirt every day, and on the building.” Beyond this, he said he grew up watching his father treat people with respect and integrity, putting the customer first. “And I can’t tell you how many people come in with amazing sto ries of how well he treated them. Those are big shoes to fill.”

8 · SANTA CLARITA VALLEY BUSINESS JOURNAL OCTOBER 2022
See BRENTS, page 22
Brent’s Carpet One Floor and Home Co-Owner Ben Griffiths. PHOTO BY CHRIS TORRES / THE SIGNAL

Top 10 Characteristics, Features And Benefits of a Family Business

What is a family business?

The family business is that commercial organization in which decision-making is carried out (or highly influenced) by the members of a family who also owns the company. In this sense, it goes without saying that the following generations will take charge of the company and will assume their role with an emotional commit ment; though it is distinguished from others, in which the only participant is the owner and administrator.

Family businesses represent, for their part, the oldest and most widespread business model throughout the world

To qualify as a family business, a fam ily member who acts as director and shareholder must own 20% of the voting rights and the largest number of shares in relation to the other shareholders.

Thus, it does not matter if it is small, medium or large (in general, there is a lot of confusion regarding this last point). In fact, among the best-known family com panies worldwide are Samsung Group, Walmart and Grupo Tata, the three of great magnitude.

Characteristics of a Family Business: Ownership and Government

Most of the actions, as well as the di rect influence in the company, control and management, are in charge of the founders or family members.

Advantages and Disadvantages

Five family businesses are more con cerned with keeping relationships safe.

• Advantages Family businesses have a very good level of competitiveness in the international market, they are more complex than companies with other characteristics; they are com mitted organizations, whether from a human or social perspective, the company means in the personal lives of its family members, beyond profit ability. As there is an effort to keep relationships safe, the goals are rather personal and may take precedence over profit-seeking. In this sense, they have a strategic behavior very differ ent from that of other companies.

Family businesses represent, for their part, the oldest and most widespread business model throughout the world.

• Disadvantages

Family businesses are more averse to risk, due to the aforementioned qualities: more hu man interests are compromised in a competitive context. They tend, following the same line, to be con servative; They are not usually ori ented towards growth, that is, they maintain their level of profitability; and finally, it is difficult for them to obtain the necessary resources, the latter due to the lack of financing, typical of small and even mediumsized companies.

Succession

In the paste succession of the family business was reserved for the first-born male. Over time more and more women took responsibility for them and took up skilled positions. Inheritance, for its part,

can be affected by family size and con siderations related to managerial, com mitment and technical capacity.

Generational Rationality

Through the generations, measures in family businesses tend to be more rational. At the beginning, when they are in charge of the founder, it is he who is in charge of making the decisions. When the next generation inherits the com pany, there is a greater degree of consul tation when making important decisions. The third generation will gather a con sensus and call for a vote.

Emotional Problems

Family businesses often have to deal with their emotional conflicts.

The biggest challenge for family busi

OCTOBER 2022 SANTA CLARITA VALLEY BUSINESS JOURNAL · 9
See FAMILY BUSINESS, page 11

SCV BUSINESS VOICES

Maintaining Quality of Life and Business-Friendly Environment

Earlier this year, the Santa Clarita Valley Economic Development Corporation con ducted a comprehensive Business Survey outreach to local businesses as a post-pandemic extension of SCVEDC’s ongoing business reten tion program. Companies included in the survey represent different business sectors within the Santa Clarita Valley, with a proactive outreach to key industry clusters that necessitate skilled la bor, experienced leadership, and higher wages. Outreach also included larger companies whose presence in Santa Clarita Valley make a signifi cant economic impact.

Fortunately, we are starting from a strong position. Respondents were on the verge of be ing effusive in their praise of the SCV business climate, almost as much as they were stridently frustrated with the overall climate in the State of California. 82% indicated that the business climate is good or extremely good in the SCV. If the positivity about the SCV business climate wasn’t enough, responses about the quality of life in SCV were stunning. 91% answered that the quality of life was somewhat or extremely good, of which 57% said extremely good!   Business identified fast, reliable broadband as the most significant infrastructure need. The second most important need is improvements to roads. The exception here is that manufacturers prioritized roads over broadband, due to goods movement demands. The largest companies also stressed the need for energy reliability be cause of significant disruptions in recent years from PSPS incidents.

Crime and theft issues are on the minds of business leaders, leading the ranking of public safety issues. In further discussions with busi ness leaders, much of this is a reflection of media coverage on local crime such as smash and grab incidents and catalytic converters thefts, though several did report direct theft or vandalism at their place of business. Traffic congestion and safety services were a virtual tie for second priority SCV businesses must work with law enforcement on joint solutions to maintain SCV’s reputation as a safe community.

The desire to improve dining/culinary options in SCV topped the list of desired amenities across the board, suggesting that a stronger fo cus on new and interesting dining venues could further improve community satisfaction

There is a strong need for training, particularly in professional skills, computer skills, customer service skills and industry-specific technical skills. These were top selections by 43%-47% of survey respondents. Manufacturers ranked industry specific skills highest at 67%, while 50% of non-manufacturers cited customer services skills as the greatest need. Follow up interviews with manufacturing sector employer indicate needs in assembly, electronics, and quality, as well as basic machine operations.  I often describe economic development as a team sport. It takes the participation and coop eration of many organizations and individuals

to create a thriving community. SCVEDC exists to create an integrated approach to economic development that brings leadership together to grow high quality job opportunities in the Santa Clarita Valley. The 2022 Business Survey pro vided deep insights into how SCV businesses have navigated the uncertainty of the past 2-1/2 years and what they need from the SCV com munity to succeed in the future. It is imperative that we continue to support these businesses and respond to their needs, to ensure a strong, resilient and diverse economic base for the SCV’s future. 

10 OCTOBER 2022

ADA Accessibility Requirement Does Not Apply to Online Only Websites

In an opinion dated Au gust 1, 2022, the Cali fornia Court of Appeals put an end to Cali fornia lawsuits brought against online-only businesses al leging disability discrimina tion due to inaccessibility of their websites. Agreeing with the U.S. Court of Appeals for the Ninth Circuit, the Court held that such websites are not “public accommodations” covered by Title III of the Americans with Disabilities Act (the “ADA”). Further, the Court held that maintaining an inaccessible website does

not constitute discrimination under the Unruh Civil Rights Act.

In Martinez v. Cot’n Wash, Inc., Martinez had alleged that Cot’n Wash violated the Un ruh Act by intentionally main taining a retail website that was inaccessible to the visual ly impaired because it was not fully compatible with screen reading software. A plaintiff can recover under the Unruh Act on two alternate theories: (1) a violation of the ADA or (2) denial of access to a busi ness establishment based on intentional discrimination. The trial court had held that the alleged inaccessibility did not violate the ADA and that the complaint did not allege sufficient facts to establish a discriminatory intent. The

FAMILY BUSINESS

Continued from page 9

nesses is dealing with their emotional conflicts. To do this, they must be trained and take care not to ruin the legacy due to internal ten sions.

Justice Process

The measures of family businesses are measured according to their fairness regular, so it is a very valu able point. What is consid ered fair, whether by family members or other members, is more likely to be accept ed. A fair process becomes organizational justice and creates the basis for family participation throughout the generations

Myths of Family Tradition

Generally these companies have a very conservative character. Sometimes, cop ing with family myths (or beliefs) — behavioral pat terns of the outside world, etc. — can be a good remedy against stress and anxiety, but the truth is that it also reduces flexibility and re sponsiveness to new situa tions.

The Three Circles

Not all members of the family circle will be owners.

The Three Circles model is an indicator of family roles in the same company. There is talk of three circles: Family, Company and Property. Linked roles can clash or coincide. All family members are part of the Family circle,

Court of Appeals affirmed the trial court on both points. This decision is significant for online-only businesses as plaintiffs cannot success fully sue them for inaccessible websites in California state or federal courts. The decision aligns the California courts with the long held position of the Ninth Circuit Court of Appeals that a website is not a place of public accommo dation covered by Title III of the ADA. As such, it should reduce the number of lawsuits brought in California courts by plaintiffs seeking to re cover under the Unruh Act’s $4,000 minimum statutory damages provision.

That said, given the signifi

cance of this decision, Marti nez can be expected to seek review from the California Supreme Court. So, we may not yet have the final word on this issue. In the meantime, businesses operating websites in California should continue to consult with their counsel to determine whether their websites comply with state and federal laws prohibiting discrimination. 

OCTOBER 2022 SANTA CLARITA VALLEY BUSINESS JOURNAL · 11
See CHARACTERISTICS, page 20
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Al Haig’s ‘I’m In Control!’

Al Haig, secretary of state and member of the Reagan Administra tion, erroneously asserted he was in control after the attempted President Reagan assassination. His statement caused a minor uproar among the pols because it bypassed the constitution ally defined succession from the presi dent to the vice president, speaker of the house, president pro tempore of the Senate and then to cabinet secre taries.

Later, he clarified his statement to mean he was functionally in control of the government. Also, not a valid decla ration but is most undoubtedly confus ing. His statements created chaos in the aftermath of the assassination attempt until constitutional scholars and legisla tors challenged his statements and clari fied how presidential authority is succes sively passed.

Many significant and recent news headlines are emerging from Congress, the Supreme Court, the administration and state legislatures, and they center on authority; moral, government, legal, positional and personal.

When I was a provost marshal, equiva lent to a chief of police, I spent a lot of time discussing authority with my mili tary police officers and their limitations in exercising it. And when I was leading multiple security companies as a busi ness unit president, I always sought clarification from our government client on contract authority … what authority my employees had in carrying out their services.

In business, authority means who de cides and how the company commits to fulfilling its decision. No one working for a company is absent authority. No one. If they are on the payroll, they have some authority, albeit in many cases, minimal.

A receptionist has the authority to receive and redirect calls to appropriate parties. A machinist has the authority to make a part necessary for product as sembly. A salesperson has the authority

Who Really is In Charge?

to engage a prospective client and close a deal.

Undoubtedly, authority limitations are imposed, explicitly or implicitly, that the receptionist, machinist, and salesperson follow.

Surprisingly, many companies don’t define authority and this lack of defini tion creates a drag on productivity and a strain on morale. Imagine the bottle necks created if the receptionist had to ask someone else where to direct a call every time the phone rang. Or if the machinist had to ask whether he could assemble the engine part instead of just doing it. What about if the salesperson had to take time and ask whether she could close the deal with an interested party inconveniencing the anxious buyer.

Clarifying levels of authority and documenting them is essential to good company governance. Doing so cre ates productivity velocity by enhancing decision-making, minimizing the risk of people without decision-making author ity binding the company and establishing accountability throughout the organiza tional stratifications.

Bottlenecks disappear, and employees know what they can decide and are ac countable to and for their work activity.

Scaled organizations with multiple layers of management create matrixes defining each management level of au thority, from the most junior manager to the CEO and board of directors.

Authority is codified in the organiza tional diagrams and governance docu ments, captured in job postings, offer letters and descriptions and clarified during the interview, hiring, and on boarding processes.

Metaphorically, chaos is the devil’s work in an organization. Chaos creates confusion and division among the work force and ill-defined levels of authority are the origins of the chaos.

How often have you heard a supervisor ask who is responsible for this mistake and no one states accountability? Or when a team member is surprised when told she has the authority to decide?

How do you eliminate chaos and create harmony and unity? Define authority, fix responsibility, and hold team members accountable. If authority is defined and responsibility fixed, there will never be a question of who is accountable.

Al Haig’s remark, “I’m in control,” caused chaos at a critical time for our Nation. However, the chaos he created was soon contained because the delega tion of authority was constitutionally documented and clear. So too, should the authority levels be recorded and clarified in your company. Contain the chaos and create productivity velocity by assigning the authority who decides, always con sidering how their decision may impact the company. This is how you lead, think, plan, and act. Now, let’s get after it!

12 · SANTA CLARITA VALLEY BUSINESS JOURNAL OCTOBER 2022

Are You RetirementReady?

„ Consider your healthcare options. If you retire at age 65 or over, you are eligible for Medicare. However, retiring prior to age 65 requires you to find your own coverage. It is important to be aware of your options and the costs associ ated with them as you plan for retirement.

Although many people grow eager as they near retire ment, this excitement is often coupled with concern sur rounding retirement-readiness.

In recognition of National Retire ment Security Week on October 16, we encourage you to review your plan and consider the below steps to help you feel confident in your retirement plan.

„ Max out your contributions. Individuals aged fifty and over are eligible to make catch-up contributions to a variety of their retirement plans, includ ing 401(k)s, 403(b)s, and IRAs. Investing additional funds can help boost your savings efforts and bring you closer to your goals.

„ Review your asset allocations. Remember to review and adjust your asset alloca tion as needed. For example, as you near retirement, you may be inclined to include more conservative and in come-driven investments and modify your short and longterm needs.

To help feel confident in your retirement plans, contact us at 661.297.7566 or visit www. PiersonWealthManagement.com.

Pierson Wealth Management is located at 28368 Constellation Rd., Ste. 396, Santa Clarita, CA 91355. Securities and advisory services offered through Cetera Advisors LLC (doing insurance business in CA as CFGA Insurance Agency LLC), member FINRA/SIPC, a broker/dealer and a Registered Investment Adviser. Cetera is un der separate ownership from any other named entity. CA Insurance Lic# 0C92500. For a comprehen sive review of your personal situ ation, always consult with a tax or legal advisor. Neither Cetera Advi sors LLC nor any of its representa tives may give legal or tax advice. Asset allocation is an investment strategy that will not guarantee a profit or protect you from loss.. „

Prosperity with Confidence

OCTOBER 2022 13 SCV BUSINESS VOICES SCV BUSINESS VOICES Are all the pieces of your financial future coordinated into one holistic plan?
Contact us today to book a 20-minute introductory phone call to discuss your situation, goals and needs. We look forward to helping you pursue your goals and objectives.
Ivy Pierson, CEP, MBA
28368 Constellation Rd Unit 396, Santa Clarita, CA 91355 (661) 297-7566 (661) 263-9958 PiersonWealthManagement.com Securities and advisory services offered through Cetera Advisors LLC (doing insurance business in CA as CFGA Insurance Agency LLC), member FINRA/SIPC, a broker/dealer and a Registered Investment Adviser. Cetera is under separate ownership from any other named entity. CA Insurance Lic #OC92500
Founder & Investment Advisor Representative

SCV Chamber Endorsements

The SCV Chamber’s non-partisan endorsement process seeks to support pro-business, pro-economic development candidates that value the strength of our business community.

The Santa Clarita Valley Chamber of Commerce Board of Di rectors recently announced their candidate endorsements for the 2022 General Election.

As The Voice of Business, the SCV Chamber is always at the forefront of advocacy while working closely with elected offi cials on all levels of government. The SCV Chamber is pleased to make these endorsements for candidates that value our probusiness agenda. We would also like to thank all for their inter est in public service.

The following candidates have been endorsed by the SCV Chamber for the November 8, 2022 election:

California’s 27th Congressional District

Mike Garcia

California’s 40th Assembly District

Suzette Martinez Valladares

Santa Clarita City Council

Laurene Weste

Marsha McLean

Bill Miranda

Santa Clarita Valley Water Agency

William Cooper – Division 1

Maria Gutzeit – Division 3

Dirk Marks – Division 2

William S. Hart Union High School District

Bob Jensen – Area 2

Dr. Cherise Moore – Area 3

Joe Messina – Area 5

Though not receiving the SCV Chamber’s endorsement, the Chamber would like to acknowledge City Council Candidates Denise Lite and Selina Thomas for their pro-business agenda as well as collaboration with the Chamber.

12th Annual Salute to Patriots Nominations Open

We invite the entire community to nominate veterans who have served their country and the Santa Clarita business com munity to be recognized at this year’s Salute to Patriots event.

Nominations are officially open for our 12th Annual Salute to Patriots which is scheduled for November 9, 2022. Nominations are open from Saturday, October 1 through Friday, October 21. We will be recognizing Veterans who have not just served our Country but have made an impact in the SCV business commu nity.

A nomination form can be requested by emailing hello@scv chamber.com or visiting the event page on our website, www. scvchamber.com. Nominations are open to all who have served this country and made an impact in the Santa Clarita Valley business community. Please note candidates running for office during an election year are not eligible.

Sponsorships are currently available as well and more infor mation can be requested by emailing hello@scvchamber.com.

Celebrating SCV Businesses

From celebrating new businesses opening or marking special occasions and achievements, we continue to be honored being part of your celebrations.

We encourage everyone to come and support our new busi nesses. All our grand opening/ribbon cuttings are free and open to everyone to attend.

www.nexthomerealestaterockstars.com

Photo credit: Joie de Vivre Photographie

(Left) We celebrated the grand opening of Shakehs Boutique in September. Congratulations and welcome to the Santa Clarita Valley business community.

Give them a visit at Westfield Valencia Town Center #3516

Photo credit: Joie de Vivre Photographie

Congratulations to NextHome Real Estate Rockstars on your grand opening and celebration in September! Thank you to all that come to support them!
14 · SANTA CLARITA VALLEY BUSINESS JOURNAL OCTOBER 2022

2022 Board of Directors

CHAIR OF THE BOARD

DR. CHRIS RAIGOSA - Kaiser Permanente

EXECUTIVE COMMITTEE

HUNT BRALY - Poole Shaffery

ANDREA CARPENTER - Logix

MARISOL ESPINOZA - Southern California Gas Company

Michael Grisanti - Hedman Partners, LLP

BECKI ROBB - Princess Cruises

SANDY SANCHEZ - FivePoint

JOHN VANCE - Vance Wealth

BOARD OF DIRECTORS

KAREN BRYDEN - SCV Locations

STEVE COLE - SCV Water Agency

Tom COLE - City of Santa Clarita

Allie Dierckman - Scorpion

MATT DIERCKMAN - Colliers International

TROY HOOPER - Kiwi Hospitality Partners

PATRICK MOODY - Henry Mayo Newhall Hospital

DR. IZU OKPARA - Omni Wound Physicians

Patrice Quishenberry - Williams Homes

DAN REVETTO - AT&T

HENRY RODRIGUEZ - State Farm Insurance

LINDSAY SCHLICK - SchlickArt Video & Photography

CHRIS SCHRAGE - LBW Insurance Financial Services

ROCHELLE SILSBEE - Southern California Edison

G. JESSE SMITH - California Institute of the Arts

DI THOMPSON - THOMPSON REALTY ADVISORS

DR. DIANNE VAN HOOK - College of the Canyons

DENNIS VERNER - Burrtec

KARINA WINKLER - Holiday Inn Express

BUSINESS COUNCILS

As the third largest city in Los Angeles County, the Santa Clarita Valley Chamber of Com merce represents over 65,000-member workforce. We realized we can better serve our business community by having six Business Councils, allowing members to work on issues specific to their area. Our Councils provide a channel for our members to be involved in solving problems, discussing issues, and implementing special projects and events for the benefit of the area being served. Participation offers members the opportunity to prioritize and bring a focus to the business needs of the area, and to take community leadership roles in addressing these needs. It can increase members’ business network, and provide stron ger representation on area issues. Also, since area councils exist as industry-specific, par ticipation provides an opportunity for area-specific networking with others doing business.

LATINO BUSINESS ALLIANCE

Our LBA council works to promote Latinoowned business as well as relevant issues fac ing our Latino business community. In addi tion the LBA helps to educate businesses on how to enhance a company’s business efforts with Latino customers and other Latinoowned businesses.

BLACK BUSINESS COUNCIL

Our Black Business Council works to in spire, empower, and promote the economic growth and sustainability of black businesses, entrepreneurs, and professionals within the Santa Clarita Valley. In addition it serves as a catalyst for engagement, awareness building and consultation; eliminate barriers to op portunities and addresses issues unique to black owned businesses, professionals, and their families.

NON-PROFIT GOVERNMENT AFFAIRS

The Government Affairs council meets to discuss policy decisions on a local, county, state and federal level. As a member, you are encouraged to attend a meeting and have your voice heard throughout the SCV and take a stance on pertinent issues relative to the busi ness community or your industry in particular.

SMALL BUSINESS

Small Businesses are at the core of our Chamber’s membership and are the back bone of our economy. The Chamber offers a variety of educational and networking pro gramming to help your small business thrive. The council focuses on three main objectives: Advises the SCV Chamber on small business related issues, programming and networking opportunities; Supports the Chambe’s “Retail Walks” with elected officials; and helps pro mote the nationwide “Small Business Satur day” program which highlights small busi nesses on the Saturday after Thanksgiving.

The SCV has a strong philanthropic commu nity with more than 100 locally-based nonprofit organizations that help our community thrive. Our non-profits are a key reason why Santa Clarita is a great community and always looking towards a better future. The coun cil provides business resources for our lo cal non-profit leaders to help them connect, grow and learn about valuable information so they can successfully meet their organiza tions mission and goals.

NEXTSCV

NextSCV is our next generation of leaders and the group aims to develop the next lead ers of the Santa Clarita Valley through per sonal and professional development, civic engagement, and network building oppor tunities that ultimately stimulate local busi nesses and support the mission of the SCV Chamber.

OCTOBER 2022 SANTA CLARITA VALLEY BUSINESS JOURNAL · 15

UPCOMING EVENTS

Government Affairs Council

October 12 | 10:30 am

Join us to hear about what issues our business community are facing. Elected officials and their staff will give updates from federal, state and local offices. This is a great opportunity to hear what advocacy the Chamber is doing for you and also to find out how you can bring the issues you care about for us to assist you with. Our massive grassroots alliance is comprised of organizations locally and throughout the country who help strengthen our advocacy efforts and ensure our advocacy efforts are successful.

Email hello@scvchamber.com to find out how to attend or sub mit an issue you are facing.

InfluenceHER - Womens Wellness

October 18 | 4:00 pm

Join us at our last InfluenceHER event of the year being held at the Wunderground at Porsche Santa Clarita!

To recognize October as National Breast Cancer Awareness month, the theme will revolve around women’s health. We will be joined by four amazing panelists who will share important infor mation, advice and answer questions from the group.

• Dr May Lin Tao, MD - Radiation Oncologist

• Christina Trujillo Sieren, LCSW - Psychotherapist and Parenting Coach

• Dr. Amy Lohmann, Certified Pediatric Nurse Practitioner and Stage 3A ER/PR IDC breast cancer Survivor

• Dr. Robyn Gerry Glezer, DO - Doctor of Family Medicine and Womens Health Advocate

Upon registration you will receive a link to a questionnaire where you can anonymously submit any questions to the panel ists.

There will be light networking, cash bar and light appetizers served.

To celebrate women and our health we encourage everyone to wear pink in collaboration and unity!

Business After Hours Mixer at MB2 Entertainment

October 19 | 5:30 pm

Our October mixer is at MB2 Entertainment. MB2 is an enter tainment park with 7 acres of indoor and outdoor space boasting a plethora of attractions including bowling, arcade games, laser tag, axe throwing, a golf simulator, mini golf, bumper boats and go karts; a full-service restaurant. Join professionals from across the Santa Clarita Valley for networking, food and drinks! Get back into the mix and meet new faces as well as catch up with old connections.

Business After Hours Mixer at Eternal Valley

November 16 | 5:30 pm

Our November mixer is at Dignity Memorials Eternal Valley. Join professionals from across the Santa Clarita Valley for net working, food and drinks! Get back into the mix and meet new faces as well as catch up with old connections.

To find out more information about these events or any other upcoming programming and to register go to: www.SCVChamber.com/Events

16 · SANTA CLARITA VALLEY BUSINESS JOURNAL OCTOBER 2022
OCTOBER 2022 SANTA CLARITA VALLEY BUSINESS JOURNAL · 17

Going the Extra Mile: Built to Last

I’ve been quite nostalgic of late. I was clicking through the property details of what was the first, and only home of my paternal grandpar ents. The house which be came their home was built in 1931 and they moved in as a young married couple just before the world went to war for the second time. Their home was sold to another fam ily when my grandmother passed away about 20 years ago. Sadly, my grand father left this mortal coil a few years earlier.

Even though my grandparents lived in that home for just over sixty years the house has changed hands eleven times since.

This walk-up memory lane to what was their front door led back into a haven of boyhood wonders for me — the large garden my older brother and I could ex haust ourselves within, while the grownups talked about matters we neither understood nor cared about during our age of innocence.

It dawned on me as I closed down the webpage that just as a house changes hands, so does a business. Just as the owners of a home contribute to the rise or fall in the value of a building, so do the owners or managers of a business.

I Googled, “What is the average lifes pan of a publicly-traded business?” I was shocked to read that according to McKinsey & Co, the average life span of a business listed on the Standard & Poor (S&P) 500 in 1958 was just 61 years. They further predict that only 25% of the companies listed on today’s exchange will still exist by 2027.

What societal factors have occurred to reduce the average lifespan of a business for McKinsey to predict that 75% of to day’s public businesses will soon change hands; go private or simply close down to be no more? Likewise, how can one fam ily make four walls a home for sixty years and yet it’s been bought and sold eleven times since my parents closed that beau tiful front door and gave the keys to strangers my grandparents never met?

The average life span of a business listed on the Standard & Poor 500 in 1958 was just 61 years. It is predicted that only 25% of the companies listed on today’s exchange will still exist by 2027.

I’m no philosopher—I’m just a recover ing accountant who is a student of orga nizational development and leadership behavior, but I think it essentially boils down to the increasing restlessness of the human heart.

Just as homes change hands because the grass looks greener somewhere else; businesses change hands. Just as fami lies outgrow homes, businesses have to adapt to the new needs. This sometimes means merging with another business to create a new home for the commerce that now needs to be cooked up in the kitchen.

The home may become too big when the children grow and go and so, it’s best to sell. Likewise, when a business loses the talent, it thought would be the next generation of leaders, it is often sold because the energy is no longer there to keep the forward momentum. Like us, it slows and then gradually stops. The doors are closed as soon as the price is agreed. It all becomes history — simply, memories of yesterday.

According to Castles Unlimited, the median age of a home in the U.S. is 37 years, which means that most properties

will need to be repaired at some point. Staying on our parallel path, according to the Small Business Administration, only about half of small businesses launched today will survive at least 5 years, with the average life span being just over 8 years.

Houses that last more than the aver age 37 years do so because they’re well managed and maintained. Likewise, small businesses that survive more than 8 years are well managed and maintained.

There seems to be an interesting corol lary between those who live in one home for many decades and those who work in or run businesses for countless sunrises and sunsets. I think the answer rests within the concepts of contentedness and contribution.

See, just as my grandparents made a home from a house, which continues to increase in value, great owners, leaders and employees create organizations built to last.

Paul Butler is a Santa Clarita resident and a client partner with Newleaf Train ing and Development of Valencia. For questions or comments, email Butler at paul.butler@newleaftd.com.

18 · SANTA CLARITA VALLEY BUSINESS JOURNAL OCTOBER 2022
SANTA CLARITA VALLEY BUSINESS JOURNAL · 19

CHARACTERISTICS

but the truth is that not all of them will be owners. The owners manage the financial capital. There may or may not be family members in the Company circle.

What is characteristic of family businesses is the in tegration of these circles, since they often give rise to conflicts. Statistically, family members will prioritize emo tional capital, while company executives will care about social capital — reputation in the market — and owners will have an interest in financial capital.

The Genogram

The Genogram is a table in which important dates are recorded as well as re lationships between family members, which makes it

especially useful for recogniz ing patterns of behavior and being able to deal with them rationally.

Parallel Planning Process

This process refers to plan ning that weighs the require ments of the business and the family. There are five central points where these needs collide and a paral lel planning measure must intervene. They are capital, control, occupation -how the person who will perform a certain function is selected, conflict -the one that must be avoided so that it does not become the pattern- and culture -related to the way of transmission of values and the tradition of the company.

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Continued from page 11
The biggest challenge for family businesses is dealing with their emotional conflicts.

BRENTS

And, he added, the example his parents set “constantly reminds me to be a better person and to reach out to other people.”

One might wonder how such customer service is possible when Brent’s is under the umbrella of the Carpet One coop erative, which encompasses more than 2,000 stores.

Being with Carpet One actually makes better service possible, he said. “We can better care for our customers’ floors over their lifetime because of the lever age we have with manufacturers.”

And, of course, being part of such a large organization lowers prices to customers. The buying power of 2,000 stores brings “national volume-based pricing.” Beyond that, Ben said that there is a cost reduction in general — in adver tising, transaction fees, “and a bunch of other services, from which we pass sav ings on to the customers.”

Ben said that he continues his father’s practice of recommending what is best

to the customer, not what is most profit able to the business.

“We take care of people. We do the job right, and don’t sell poor quality floors.” A big part of Brent’s customer service also comes from their lifetime labor warranty. “Any flooring store offers a 365-day war ranty, but we guarantee the labor for a lifetime,” he said.

As a part of Carpet One, Brent’s is able to offer the Beautiful Guarantee on many of its materials. “If you don’t like the flooring after we install it, we will replace the material for free,” Ben said.

Of course, the types and brands of flooring offered are important as well, and Brent’s has an extensive selection of top brands of carpet, vinyl, hardwood, tile and laminate.

Plus, their vast experience allows them to educate and advise you on selection, and to install with expertise. The intent is to make you a loyal customer, and part of the Brent’s family. “My dad had a philosophy that we care for the custom ers’ best interests, not ours,” Ben said.

“And we continue that. That’s what cre ates a good name, what we’ve done for 43 years.”

Brent’s Carpet One Floor & Home is lo cated at 24220 Lyons Ave, Newhall 91321. Their phone number is (661) 388-0687 or visit www.brentscarpetonenewhall. com. 

22 · SANTA CLARITA VALLEY BUSINESS JOURNAL OCTOBER 2022
Visit us at www.lbwinsurance.com 28055 Smyth Dr. | Valencia CA 91355 CA Insurance License # 0785905 Securities offered through Securities America, Inc., Member FINRA/SIPC. Financial Advice & Investment Advisory Services offered through PFG Advisors. LBW, PFG Advisors, and Securities America are separate entities. LBW Insurance and Financial Services participated in and won the award for the Los Angeles Business Journal “Best Places to Work 2022.” LBW did not make any solicitation payments to any of the award sponsors in order to be nominated or to qualify for nomination of the award. Workers Compensation Business Insurance Employee Benefits 401(k) Qualified Plans Put
you!
100 years of experience to work for
Continued from page 8
OCTOBER 2022 SANTA CLARITA VALLEY BUSINESS JOURNAL · 23 The List: F amily -O wned B usinesses rank company employees family members business major ownership website 1 Gothic Landscaping 2,200 2 Landscape services Jon and Rob Georgio www.gothiclandscape.com 2 AMS Fulfillment 362 4 Product and promotional fulfillment Jay Catlin, Ken Wiseman amsfulfillment 3 Stay Green Inc 350 3 Landscape services Rich Angelo, Char Angelo www.staygreen.com 4 Canon Recruiting Group LLC 300 3 Staffing and recruiting firm Laurie Grayem www.canonrecruiting.com 5 Andy Gump Temporary Site Services 175 1 Temprorary site services Nancy Gump-Melancon www.andygump.com 6 Petersen International Underwriters 72 8 International medical and health insur ance, Lloyds of London Harold, Michael and Thomas Petersen www.piu.org 7 Valencia Acura 48 3 Auto Dealer Don Fleming www.valenciaacura.com 8 LBW Insurance and Financial Services 36 7 Insurance and financial services Mitzi Like www.lbwinsurance.com 9 The Signal 35 3 Media Richard Budman www.signalscv.com 10 AV Party Rentals 30 6 Party and event equipment rentals Rusty Parr www.avparty.com 11 CBC Cleaning and Restoration, Inc 22 2 Emergency disaster cleaning and res toration, residential and commerical Gordon and Debbie Glasnow
12 Accurate Freight Systems 18 2 Transportation and Logistics
13 GW Richardson Heating & Air Conditioning Inc 18 4 Heating and air conditioning, solar electricity
14 Teague Custom Marine 18 5 Marine engines, parts, accessories, service and high performance parts
15 KHTS FM 98.1 & AM 1220 15 2 Radio station and website/Hometown Analytics (The
16 J David’s Custom Clothiers 14 1 Clothier David Guenther
17 Tea Elle C Garden Cafe 12 8 Specialty tea restaurant Cecilia Hyon
18 Way Station Coffee Shop 12 2 Breakfast and lunch diner Eric Leeser
A 19 Visual Terrain, Inc. 11 2 Special lighting design for architecture, attraction & amusement purposes Lisa
20 Douglas Furniture 10 4 Furniture Doug Green
21 Nicholas Aire Systems 9 3 Heating and air conditioning Nicholas Frank www.nickaire.com 22 Oasis Garden & Patio 9 2 Patio furniture Chris and Amy Boswell oasisgardenandpatio.com 23 A Chorus Line Dancewear & Costumes 7 3 Dance wear and costume sales and rental Reena Newhall www.achorusline.net 24 Brent's Carpet One 7 1 Flooring sale and installation Brent & Ben Griffiths www.brentscarpetonenewhall.com 25 Lightning Limos 6 4 Party bus, limo rentals, car service Veena Bali www.mylightninglimos.com 26 Kupcake Kitchen 5 3 Bakery Ryan Hulbert www.kupcakekitchen.com 27 Signs By Tomorrow 5 2 Signs and graphics Becky Hargrave www.signsbytomorrow.com/santaclarita 28 Stacey Hauge Printing Co. Inc 5 3 Commerical printer Dennis Hauge, Linda Hauge www.haugeprinting.com 29 Chavez Carpet Cleaning Service 4 4 Carpet cleaning Roberto Chavez facebook.com/ChavezCarpetCleaning 30 Kona Ice of Santa Clarita 3 2 Shaved ice truck Jeff and Carol Katz kona-ice.com 31 Tycam Marketplace 3 3 Artisan market Felicia Smith tycammarketplace.com OPENING A NEW BUSINESS? THE SIGNAL CAN HELP! We will help you publish your Fictictious Business Name or D.B.A. If you have already filed with the County Clerk, we can publish immediately. We are adjudicated for LOS ANGELES COUNTY. FOR MORE INFO, PLEASE CALL: (661) 287-5508 dba@signalscv.com
www.cbcfirst.com
Tony Demma www.shipafs.com
Gary and Christy Richardson www.gwrichardsonac.com
Bob Teague www.teaguecustommarine.com
Statster) Carl Goldman, Jeri Seratti Goldman www.hometownstation.com
Jdavids.com
www.theteagardens.com
N /
Passamonte Green and David Green www.visualterrain.net
www.dougfurn.com

Report Card Gives Assessor Top Score

Iwanted to share some ex citing news with you this month.

Your Los Ange les County As sessor’s Office has received a nearly perfect score of 99.87 percent from a state regulat ing agency in its latest sur vey that acts as a de facto report card by comparing our assessment values, mon itoring practices as well as evaluating how we perform administratively.

The survey, administered by the California State Board of Equalization (BOE), reflects the thoroughness, fairness and accuracy of the Assess ment Roll, which is a list of the values of all taxable prop erties in Los Angeles County.

History

The California BOE was es tablished in 1879 under the California Constitution to regulate county assessment practices, equalize county as sessment ratios and assess properties of intercounty rail roads.

In subsequent constitution al and statutory amendments, the Board was directed to administer tax, fee, and ap pellate programs to support state and local government.

Part of the BOE respon sibilities is to provide guid ance to county assessors that promotes uniformity and consistency in assessments throughout the state and to routinely conduct surveys (compliance audits) to ensure county assessors’ practices and procedures comply with all statutory and regulatory provisions, using proper ap praisal practices.

Your Los Angeles County Assessor’s Office has received a nearly perfect score of 99.87% from a state regulating agency in its latest survey that acts as a de facto report card.

Although my office has the primary responsibility for lo cal property assessment, the BOE ensures that assessor of fices throughout California maintain fair and equitable assessments.

This report card, known as the Assessment Practices Survey, is a periodic evalua tion of all California assessors to make sure they meet those state standards.

For this latest report, BOE examiners reviewed a sam pling of 332 items from the Assessment Roll along with interviews with staff and pub lic officials as well as a review of other pertinent records.

I have long held that this

survey, or audit if you will, of our administrative practices and assessments is an invalu able, useful and constructive tool to help us achieve our goal of excellent public ser vice.

Furthermore, not only is the survey results good news for our office, it’s good news for the public as well because it’s a verification that what we are doing is exactly what we should be doing.

That’s a tribute to the em ployees of the Assessor’s Of fice, who stand at the ready to help the public in any way they can. Their profession alism and dedication is the foundation for the best as

sessment office in the nation as well as the largest.

Los Angeles County Assessor Jeff Prang was first elected in 2014, re-elected in 2018 and 2022. Upon taking office, Prang implemented sweeping reforms to ensure that the strictest ethical guidelines rooted in fairness, accuracy and integrity would be adhered to in his office, which is the largest office of its kind in the nation with about 1,400 employees and provides the foundation for a property tax system that generated nearly $19 billion this year alone.

24 · SANTA CLARITA VALLEY BUSINESS JOURNAL OCTOBER 2022

Economic DEvElopmEnt corporation

26455 Rockwell Canyon Road | UCEN 263 | Santa Clarita, CA 91355 | (661) 288-4400 | www.scvedc.org

A Recap of the 2022 Economic Outlook Conference

President and CEO of the Santa Clarita Valley

Development Corp.

Designed to provide attendees with an economic analysis and outlook for the coming year, the 2022 Economic Outlook Conference included global, national, and state perspectives, while focusing primar ily on the trends and issues associ ated with the Santa Clarita Valley and the surrounding business community. Hundreds of attendees listened in on updates to important topics such as demographics, employment, residen tial and commercial real estate trends, new developments, and quality of life. Over the last 9 years the SCV has seen tremendous growth and economic suc cess:

Our population has grown by 7.5% because we built over 6000 new homes (277451–> 298,731)

Meanwhile, our jobs base has grown by 13.5%. We built millions of square feet of new industrial, commercial, and retail space.

We have nearly recovered all the jobs

Econo Watch

lost during the pandemic and our job creation rate is increasing. (83.0 –> 94.2)

Total personal income has grown by roughly 50% (18.3B –> 27.6B)

The unemployment rate dropped from 9.0 to its current level of 4.1

Considering there was a global pan demic, these numbers are pretty good! Take note from those numbers that the rate of job growth exceeded the rate of population growth.

The event kicked off with a panel dis cussion with prominent business leaders Ana Fonseca (Logix), John Prabhu (LA North Studios), and Nate Patena (Drink PAK, LLC), with Todd Stevens (Black Knight Energy) moderating the conver sation. Following the panel was econo mist Dr. Mark Schniepp of California Economic Forecast, who has been keep ing a close eye on the rapidly evolving economic impacts of inflation, supply chain restraints, labor force, and more on the national, state and local level. Both the panel and Dr. Schniepp spoke about the labor force in particular as a continued principal challenge.

Dr. Schniepp stated how the labor

Santa Clarita Valley Q2 2022 Q1 2022 Q2 2022 Sq Ft

Commercial Vacancy Rates

Office Space 18.95% 22.70% 2,869,754

Industrial Space 1.40% 1.10% 25,317,438

Total Marked Sq. Ft. Vacancy Percentage: 28,187,192

Office Space - as a % of Vacancy 10.18% 9.97% N/A

Industrial Space - as a % of Vacancy 89.82% 90.03% N/A

Building Permits

Aug ’22 Jul ‘22 Aug ’21

New Commercial/Industrial Building Permits 6 3 1

Commercial Tenent Improvements/Alterations 26 27 44

Local Company Stock Prices Jul ’22 Jun ‘22 % Change

California Resources Corp (CRC) 37.62 46.24 -18.64%

Carnival Corp. (CCL) 70.66 78.60 -10.5%

FivePoint (FPH) 2.79 3.52 -20.7%

Six Flags * (SIX) 18.53 22.46 -17.49%

Woodward (WWD) 82.90 92.01 -9.7%

market in 2022 is strong, but there is rising uncertainty that employment will be impacted by the looming recession that could arrive before the year’s end. Santa Clarita Valley residents, however, have returned to the workforce in 2022 and new labor force entrants in 2023 will create more opportunities for compa nies to fill job positions faster. In fact, we’ve had complete recovery of jobs in those local industries that were hit the hardest by the pandemic, such as hos pitality, leisure accommodation, vaca tion/travel, and more. Rising job counts almost always imply that (1) the demand for production is increasing and firms, therefore, need more capital, labor, or both to meet that demand, or (2) the region is attracting more businesses who employ local workers or a new inmigrating population of workers.

If you missed the event visit www. scvedc.org/outlook to download the full Economic Outlook report and Dr. Schniepp’s presentation slides. 

Unemployment Rates Aug ’22 Jul ‘22 % Change

Santa Clarita

Palmdale

Lancaster

Glendale

4.3% 4.7% -8.51%

6.9 % 7.2 % -4.17 %

7.0% 7.3% -4.11%

4.7% 4.9% -4.08%

Los Angeles County 4.9% 5.0% -2.00%

State 4.1% 3.9% 5.13%

Housing Stats

Aug ’22 Jul ‘22 Aug ’21

SCV Average Home Price 886,300 938,800 896,400

SCV Average Condo Price 562,500 574,900 548,700

SCV Home Sales 1,477 1,331 2,011

SCV Condo Sales 597 515 746

SCV Avg. # of Days on Market (SF) 55 49 27

SCV Single Family Home Inventory 211 226 315

OCTOBER 2022 SANTA CLARITA VALLEY BUSINESS JOURNAL · 25

Santa Clarita Stock Average

Below you will find a list of local Santa Clarita-based or prominent Santa Clarita companies used for our averages. Each month we will take the average of all these stocks and show that number. Tracking that number from month to month will give you a window of how our local company’s stocks are performing. Last month the index was 2,860.63 and the average price per share was $95.35. This month the index is 2,726.23 down 134.40 or 4.7%, for an average share price of $90.85.

Company industry ticker september 8 SEPTEMBER 27

Amazon Retail

Bank of Southern California Banking

Bioventus Biomedical

NASDAQ: AMZN 127.51 113.78

OTC: BCAL 15.35 15.69

Nasdaq: BVS 7.299 6.98

Boston Scientific Biomedical NYSE: BSX 40.49 38.90

California Resources Corp. Energy NYSE: CRC 46.24 37.62

Carnival Corp. Entertainment/leisure NYSE: CCL 9.37 8.95

CBRE Commercial real estate NYSE: CBRE 78.60 70.66

Costco Retail NASDAQ: COST 519.11 466.40

Disney Entertainment media NYSE: DIS 111.20 99.50

Five Point Holdings Home developer NYSE: FPH 3.52 2.79

IQVIA holdings Laboratory services NYSE: IQV 207.26 189.43

ITT inc. Aerospace/manufacturing NYSE: ITT 71.98 66.90

KB Homes Home developer NYSE: KBH 28.23 27.26

Otsuka Pharmaceutical Pharmaceutical

OTCMKTS: OTSKY 16.05 15.34

Quest Diagnostics Laboratory services NYSE: DGX 125.13 122.35

Six Flags Entertainment/leisure NYSE: SIX 22.46 18.53

Sodexo Home/food services

OTCMKTS: SDXAY 15.27 14.93

Sonova Holdings Biomedical equipment OTCMKTS: SONVY 51.59 43.65

Tri Pointe Homes Home developer NYSE: TPH 16.95 15.64

Walmart Retail NYSE: WMT 133.00 130.06

Woodward Aerospace/Manufacturing

NASDAQ: WWD 92.01 82.90

Auto Nation Auto Dealers NY: AN 122.54 106.96

Boeing Aerospace NY: BA 152.00 131.25

Comcast Communications NY: CMCSA 35.87 31.84

Home Depot Retail

NY: HD 291.90 270.94

Kohl's Retail NY: KSS 29.97 26.30

Lennar Home Builder NY: LEN 77.87 77.07

Lowes Retail NY: LOW 195.51 188.13

McDonalds Restaurants

NY: MCD 254.51 245.95

Textron Industrial NY: TXT 61.85 59.53

26 · SANTA CLARITA VALLEY BUSINESS JOURNAL OCTOBER 2022

VALLEY INDUSTRY ASSOCIATION

VIA BASH 2022: MIDNIGHT IN MOROCCO

VIA is delighted to present “Midnight in Morocco” on Friday, November 4th, at the Hyatt Regency Valencia. This exotic evening of entertainment and recognition will be full of surprises. Are your BASH tickets reserved? Take care of that right away! You won’t want to miss this event!

In addition to helping raise funds for the VIA Connecting to Success Program, the VIA BASH event also offers us the opportunity to showcase some very special businesses! Our membership is the heart of VIA, and we can’t wait to celebrate some very special businesses that evening.

Sponsors for the 2022 VIA BASH include: City of Santa Clarita, College of the Canyons, Donahoe, Young & Williams, LLP, eXp Realty, Fivepoint, Magazine of Santa Clarita, Mission View Public School, QM Design Group, ServPro of Santa Clarita, Southern California Edison, LA County Supervisor Kathryn Barger, The Mortgage Doctor, The Signal, Tweddell & Associates, representing Primerica, UCLA Health and Woodward HRT.

Tickets and sponsorships are still available! Reserve yours today at www.via.org/via-bash

DAVID CANTRELL TO SERVE 2ND TERM AS VIA CHAIRMAN

The Valley Industry Association is pleased to announce that David Cantrell of American Family Funding will serve a second term as VIA’s Chairman of the Board, heading up the organization again in 2023.

“David’s participation and support of the Valley Industry Association in 2022 has been instrumental in assisting VIA emerge from the pandemic successfully, well equipped with relevant programs and events for the business community. We are delighted he has agreed to continue as Chairman in 2023” said Kathy Norris, VIA CEO/President.

David has been in the financial industry for 34 years, working for some of the largest investment firms in the country including UBS and Raymond James. David joined American Family Funding in 2015 as Sales Manager and has been an active member of the SCV business community since that time.

American Family Funding has been a member of the VIA Board of Directors since 2012, and David assumed that role in 2020.

An active member of the VIA Membership, Marketing and Advocacy Committees for the last several years, David has also assisted in the production of the VIA CEO Forum and the 2021 VIA BASH events. He has always put a high value on integrity, ensuring excellent repeat business. David continues to bring that same integrity and business acumen to the Valley Industry Association.

David’s professional affiliations include the Southland Regional Association of Realtors (SRAR), the Women’s Council of Realtors (WCR), the California Association of Mortgage Professionals (CAMP), and the National Association of Mortgage Brokers (NAMB). David has been married to his wife, Lori, for 28 years and they have two children, Lexy and Logan.

Personnel

Tickets

ADVOCATE • EDUCATE • INNOVATE VISIT VIA.ORG
A D
V O C A T E . E D U C A T E . I N N O V A T E .
Cantrell American Family Funding CHAIRMAN OF THE BOARD Hillary Broadwater QM Design Group IMMEDIATE PAST CHAIR Ed Masterson Michael Elliott & Associates VICE CHAIR WORKFORCE & BUSINESS DEVELOPMENT Tim Burkhart VICE CHAIR PROGRAMS Sue Tweddell Primerica VICE CHAIR EDUCATION J.C. Burnett Courier-Messenger VICE CHAIR ADVOCACY Mike Garrison KKAJ, LLP TREASURER Kim Thomson Reliant Relocation Services Group CORPORATE SECRETARY Justin Veyna Barkley Risk Management & Insurance VICE CHAIR MEMBERSHIP Steve Nunez Mission Valley Bank EXECUTIVE BOARD MEMBER AT LARGE Nola Aronson Advanced Audiology Claudia Dunn-Martinez UCLA Health Monica Fawcett City of Santa Clarita Beau Goodrick Owen, Patterson & Owen Laura Kirchhoff Circle of Hope Kim Kurowski A-1 Party Kathie Martin Santa Clarita Valley Water Agency Jill Mellady Mellady Direct Marketing Ralph Peschek William S. Hart Union High School District Teresa Todd Point of View Communications Omar Torres College of the Canyons Maria Vartanian Henry Mayo Newhall Hospital Mark Young Donahoe, Young & Williams, LLP VIA BOARD OF DIRECTORS 2022 CEO FORUM A D V O C A T E E D U C A T E N N O V A E VALLEY INDUSTRY ASSOCIATION VIA CEO Forum to Tackle Critical Topics CEOs, Presidents, Business Owners, Management
David
and decision
SCV based businesses and adjacent areas
VIA CEO Forum
event
robust, solution-based discussion about critical business and community issues.
2002, VIA’s CEO Forums
consistently resulted in highly desirable programs, special events, partnerships and better success for business.
makers from
are encouraged to join the
on Friday, December 2nd. This annual
will a
Since
have
$250 - $1000. Individual tickets $40 - $50.
Sponsorships range from
and
VIA - OCT2022 BJ ad.indd 2 9/9/22 2:19 PM
sponsorships are available! Reserve yours today at www.via.org/ceo-forum
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