Santa Clarita Valley Business Journal (July 2017) by Signal

SANTA CLARITA VALLEY $4.50 · Volume 9 • Number 3

FINANCIAL SERVICES:

The Millennial Factor Disruption in the industry is possible as the new generation takes control. pg. 8

pg. 11

The Talent, Gender Gaps pg. 18

The Lists: Law firms pg. 21

Sole practitioners

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SANTA CLARITA VALLEY $4.50 · Volume 9 · Number 3

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Focus on Financial Services Cover Story: The Millennial Factor . . . . . . . . . . . . . . . . . . . . . . . . . . 8 CFO Profile: Bob Hudson, Henry Mayo Newhall Hospital. . . . . . . . . . 5 Mid-career conflicts stall women’s rise to leadership roles. . . . . . . . . .11 Knowledge Exchange: Calvin Hedman and Lisa Eichman. . . . . 12 ■ Bob Hudson

12 tips for choosing a financial advisor . . . . . . . . . . . . . . . . . . . . . 17

Features Fralock marks 50th anniversary . 6 State OK's Newhall Ranch; county action expected this month. . . . 14 BioSolar inks marketing deal with Top Battery . . . . . . . . . . . . . . . . . . . . . 15 Castagna take reins as CEO at MannKind . . . . . . . . . . . . . . . . . 16 SetPoint names Chernoff chief medical officer . . . . . . . . . . . . . . . . . 16 Book excerpt: Five practices of exemplary business leaders . . . 19 SCV Business Voices Recent Changes to SCV’s Foreign Trade Zone . . . . . . . . . . . . . . . . . . . . . . . . .22 Why Healthcare Organizations Should Encrypt Everything . . . . . . . . . . . . . . . . 24 Identity Theft Today (Part Two) . . . . . . 24 2017 Acura MDX Sport Hybrid Exceeds Expectations . . . . . . . . . . . . . . 24

■ Lisa Eichman is a tax advisor and owner of Gymnastics Unlimited. She was interviewed with Calvin Hedman of Hedman Association. Katharine Lotze/The Signal ■ David Lee, BioSolar

SCV Business Services The Lists: Law firms. . . . . . . . . . . . . . . . . Lawyers – Solo practitioners. . . . . . . . Appointments. . . . . . . . . . . . . . . . . . . . . . SCVEDC. . . . . . . . . . . . . . . . . . . . . . . . . . . . VIA. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . SCV Chamber of Commerce. . . . . . . . Real Estate Section Residential Real Estate. . . . . . . . . . . . . . Commercial Real Estate. . . . . . . . . . . . .

From the Editor 18 21 23 25 26 27 28 28

Index of Advertisers AV Party Rentals . . . . . . . . . . . . . . . . . . . 11 Fastframe. . . . . . . . . . . . . . . . . . . . . . . . . . 14 Henry Mayo Newhall Hospital. . . . . . . . 13 Hyatt Regency. . . . . . . . . . . . . . . . . . . . . . 2 Kaiser Permanente. . . . . . . . . . . . . . . . . 17 Kanowsky & Associates. . . . . . . . . . . . . 10 LBW Insurance. . . . . . . . . . . . . . . . . . . . . 23 Med Tech Solutions. . . . . . . . . . . . . . . . . 2 Mission Valley Bank . . . . . . . . . . . . . . . . 15 Newhall Mansion . . . . . . . . . . . . . . . . . . . 4 Editorial SCVBJ Editor Patrick Mullen pmullen@signalscv.com 661-287-5509

Advertising 661-287-5564

Advertising Director Steve Nakutin snakutin@signalscv.com 661-287-5561

Poole & Shaffery . . . . . . . . . . . . . . . . . . . 32 Roger Doumanian –Attorney at Law . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 SCVEDC . . . . . . . . . . . . . . . . . . . . . . . . . . . 19 Signarama. . . . . . . . . . . . . . . . . . . . . . . . . 17 TSI Digital Media. . . . . . . . . . . . . . . . . . . 11 Valencia Acura. . . . . . . . . . . . . . . . . . . . . . 7 Valencia Country Club. . . . . . . . . . . . . . . 4 William L. Morris Chevrolet. . . . . . . . . 12 Multimedia Account Executives Dawn Begley Maureen Daniels Toni Sims Michael Madigan Administrative Assistant Courtney Briley

Circulation Circulation Manager Pam Conley 661-287-5580

This issue marks the beginning of a new era for the Santa Clarita Valley Business Journal. We’re refreshing the look of the publication, starting with a more colorful and inviting cover. Stay tuned for more refinements to come over the next few months. We’ve relaunched our website, scvbj.com, with a clean new look and content. And we’ll be making greater use of social media and video. What hasn’t changed is our commitment to provide the best news coverage of business in the SCV. This month, our focus is on financial services, including how millennials, now our largest generation, are transforming the industry. We also have a Knowledge

Exchange interview with CPA Calvin Hedman and tax advisor and gymnastics school owner Lisa Eichman, as well as a CFO Profile of Bob Hudson, who’s retiring after more than 16 years with Henry Mayo Newhall Hospital. We hope you enjoy this issue, and will let us know what you’d like to see us cover going forward.

Patrick Mullen SCVBJ Editor pmullen@signalscv.com

Santa Clarita Valley Business Journal (a Signal publication), © 2017, is published monthly by the Santa Clarita Valley Signal newspaper, Paladin Multi-Media Group, Inc., 26330 Diamond Place, Santa Clarita, CA 91350. 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.

Art/Production Graphic Designer Emily Lyman Photographer Katharine Lotze

Executive Staff Publisher Jason Schaff jason@signalscv.com 661-287-5515

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FINANCIAL SERVICES:

CFO Profile: Bob Hudson, Henry Mayo Newhall Hospital By Patrick Mullen SCVBJ Editor

fter serving as chief financial officer of Henry Mayo Newhall Hospital since 2001, Charlie Robert (Bob) Hudson retired at the end of June. Hudson’s career in healthcare financial management included consulting stints up and down California, with KPMG and Ernst and Whinney, and management positions with medical groups and hospitals. At Henry Mayo, Hudson was CEO Roger Seaver’s first hire 16 years ago. When they started, the hospital was in dire financial straits. They led the hospital through bankruptcy to a period of sustained growth, as evidenced by a new patient care tower under construction visible from Hudson’s window. He spoke recently with SCVBJ Editor Patrick Mullen. SCVBJ: How did you choose a career in health care finance? Hudson: When I was young, I was in a bad motorcycle accident, and was laid up for quite some time. I had to think and read, and saw an article that the top college degree for the future was accounting. Another article said one of the industries of the future, and this was in the early seventies, was health care. SCVBJ: How did you get your start here at Henry Mayo? Hudson: Jim Yoshioka, the CEO at the time, was going to leave and Roger Seaver, who had been here as a consultant, had been offered his position. He needed a CFO because there wasn’t one here. He called me. SCVBJ: Why did you take the job? Hudson: He described the job as a massive challenge and I always liked a challenge. People always asked me why I go to places that are in trouble and have problems. I figured out a long time ago that if you go into a well-run organization, the best you could hope to do is to maintain. If you go into a place that’s got problems, you can’t help but make it better. SCVBJ: What were the challenges in 2001 for this hospital? Hudson: The day I walked in we had no money, our accounts were overdrawn, vendors were screaming, and the hospital had just unionized. We had just cancelled some unbelievably bad contracts with employers. The reality is that a lot of people worked really hard for a long time to mess it up and they did a really good job. I’ll give you an example of the situation I found. When I was at KPMG, I had an office in Valencia for over two years. When I first got there, I said to the person I worked with that I was going to go meet

■ Henry Mayo's outgoing CFO Bob Hudson. Katharine Lotze/ The Signal

the people at the hospital. He said, “Oh no, you can’t do that. There’s bad blood between the hospital administrator and KPMG. I don’t know what it is from but we have very specific instructions.” The only way any of us could set foot on this campus was in the back of an ambulance. So I’d never been on campus. I walked into the hospital for some interviews a couple of weeks before I started. I stood in the front entrance of the hospital, looked around, and I had been doing this for more than 20 years. I said to myself, there’s no way this place can’t make money. I just knew it. It was small. It wasn’t really as nice looking as I would have liked but it was okay. The people didn't look all that happy. But having lived for two years off and on in the Santa Clarita Valley, I got to know the community a little bit. First of all, there’s no other hospital in town that you have to beat. SCVBJ: What were the first few things you had to do to to right the ship? Hudson: I started on April 1. On April 15, I called our finance director and said, as of today we don’t pay any invoices dated before today. I was struggling to figure out how to stop the bleeding. I had to meet with all the vendors and let them know I was going to do everything I could to take care of the past but I had to look at the future. I negotiated some reasonably good settlements but I had three vendors that I just couldn’t get to talk to me. One had the attitude that they would end up owning us. The second one had the attitude that, well if that’s the

position they’re taking, that’s the position we have to take. And the third group was a collection agency down in Orange County. So I went down to meet with the owner. He’s an attorney and he handed me his business card and the front of his business card said, number one litigator in Orange County. I thought, this is not really going well! He had gotten an attachment order that basically meant that they could go in and attach the hospital’s checking account. If I would have let them take the checking account, it would have caused all sorts of defaults and the state would have come in and probably closed the hospital. I wasn’t going to let that happen. It just wasn’t right.

Other than a little bit of knowledge, the only real thing that I bring to the table is my integrity. So if I tell somebody I’m going to do something, I do it. When I say no, it means no, but if I say yes, I mean yes and I’ll do what I said. So it worked pretty well. Even during those worst times, nobody ever came into my office with a need that I wasn’t ever able to find a way to meet.

So we were basically forced into filing Chapter 11. Even today, based on all of the information I have, we’re the only hospital to ever go into Chapter 11 and come out of Chapter 11 as the same organization. Everybody else gets reorganized, bought, or restructured, but not as the same organization.

SCVBJ: What’s next?

SCVBJ: What happened here? Hudson: We ended up paying our bills. We owed twelve and a half million dollars and we ended up paying our creditors 100 cents on the dollar plus seven and a half percent interest plus nine and a half million dollars of bankruptcy costs. And during that whole process, we started growing. We started adding programs. During the bankruptcy we started a breast-imaging center. The community support was there. We made commitments to foundations, to community boards, to the organization.

We have been in growth mode since the day I got here. I’m leaving and as you can tell by looking out the window [at the new patient tower under construction], we’re still in growth mode. This is just the beginning of what’s next.

Hudson: Infill of the existing hospital and new programs. The main hospital is 40 years old, and at some point in the future that has to be replaced. Also, we’re alway trying to improve relations with physicians. SCVBJ: How do you achieve that? Hudson: There’s two ways to achieve it. One is to have a long-term very positive working relationship with medical staff that makes the changes that are needed to move along. The other way is to outlast them. We’ve outlasted them. We have 500 members of our medical staff today and less than 50 are active. By active I mean they get to vote based on the medical staff bylaws. It’s an extremely long complicated process to bring back See HUDSON, page 22

SANTA CLARITA VALLEY BUSINESS JOURNAL

JULY 2017

At Fralock, marking its 50th Year, meetings begin with “change is good!”

 Fralock's Marcelo Norona, Michael Klein, Bobbi Booher, Scott Broderick, Allan Lakin, and Erik Jensen in the company's Valencia offices on June 19, 2017.

By Ken Keller SCVBJ Contributor 017 marks fifty years of operations for Fralock, a growing familyowned and operated business located in the Valencia Commerce Center. Fralock designs, engineers and

manufactures specialty components and subassemblies for companies in industries that include aerospace, life science and medical, satellite, and semiconductor equipment. It has not always been an easy ride, and Scott Tucker, CEO and son of founder

Noel C. Tucker, recently shared the challenges and opportunities as he looked back, reflecting on the lessons learned over the last five decades. In 1967, Permacel Tape decided to cancel a product line that Noel thought had a few more years left in the life cycle. Partnering with Dick Frasier and Ken Lockwood (the source of the name Fralock), the company started in Van Nuys, providing custom tape products; some were manufactured and others were purchased and resold to other manufacturing companies. Within a few years, Noel bought out his partners and in the early 1980s, relocated the company to Canoga Park. The 17,000-square-foot building was rapidly filled to capacity. Over the next few years, the company leased three additional buildings to handle the work required by the then booming disk drive industry. Through the 1980s, the company continued to grow as a custom manufacturing firm. With over 200 employees, and little in the way of policies and procedures, inefficiencies were everywhere.

Scott recalled that it took an employee 20 minutes to walk from the furthest building to the main office and could only guess how much time was lost each day as many employees made the journey. By this time, Scott had earned a business degree from USC, in one of the first classes that had a major in entrepreneurialism. Out of college, he took a job with a Fortune 500 firm in Los Angeles. This time and experience proved to be important when he returned to Fralock in a temporary sales role. Like many entrepreneurial companies, Fralock had grown too fast, wasn’t as well organized as it could be, lacked standard operating procedures, and had no vetting procedures about what type of work it would or would not do. Guidelines on the production lines were non-existent. A considerable amount of business was actually lost at the front door. Major companies would send out people to visit to see where and how their components were going to be manufactured. A quick look around and the deal was lost;

 Fralock employees operate machinery as they create parts on June 19, 2017. Katharine Lotze/The Signal

JULY 2017

Fralock didn’t make the cut from an image perspective. Around this time Noel had some health issues, and a transition and new direction for the company was necessary. In 2000, Scott, working with the now COO Marcelo Norona, crafted a plan to transform the company. The immediate goal was to achieve ISO9000 certification, a set of international standards designed to help companies manage and measure. There was initial internal resistance and the dot-com bubble bursting didn’t help. Revenue fell substantially and the company survived through layoffs, reorganizations and cost cutting measures. No owner or leader likes to have to make these decisions, but Scott and Marcelo were in it for the long term, and with a management team focused on clear goals, strong strategies and action plans, the future would be better and different. Getting employee buy-in was key. Many employees from those turbulent years are still at the company. Over the next ten years, the company went through trying times, dealing with the Asian financial crisis; the rapid off shoring of manufacturing to Asia and the Great Recession. One major turning point for the company was when Scott, Marcelo and the rest of the management started to really dig into the company’s financials. In 2009, this was a function of business survival. To this point, the company had been chasing revenue and volume, not profit. Another decision was to avoid chasing business that was off shored to Asia. While manufacturing in California would cost more, it was deemed necessary to preserve the company’s trade secrets and other intellectual property and to maintain the high quality standards required by clients. A third decision was made to address the client list. In 2008 Fralock had 3,000 clients. That number is now 700. The company raised minimum production run quantities, eliminated product offerings and increased prices where needed. Even now the client base is under review as the company continues to seek higher margin items and more specialized work that is a competitive advantage. As part of the transformation, Fralock sought out clients that had demanding engineering requirements and long tail production needs. Now, the majority of the client base has shifted to aerospace, FDA-approved medical products and the semiconductor industry. A fourth decision was to engage the employees in the success of the company through a pay for performance program. The company has an open book management program and shares the financial results with every employee. Only once since 2008 has the company missed a quarterly bonus payment. Finally, in 2006, the company moved into new quarters in the Valencia Commerce Center. For the first time since the early days in Canoga Park, the company now has all operations under one roof. The 60,000 square foot building is now home to a company that is growing double digits each year and now supports approximately 180 full time employees. 

SANTA CLARITA VALLEY BUSINESS JOURNAL 7

Scott Tucker's lessons for business owners 1. Don’t just chase revenue and volume; pursue profit. 2. Surround yourself with successful leaders who are focused on profitable revenue and know how to get it. 3. Don’t be afraid to make personnel changes to get better people for a stronger future. 4. When employees share in company success, they contribute in many ways that make a huge difference. 5. Double-digit growth is possible if employees are aligned and engaged. 6. Pay attention to third-party feedback on the company; Glassdoor, as an example, gives a window into how current and former employees feel about the company. 7. Employees are the solution to most company problems but they need to be engaged to address the

challenges the company faces. 8. Root out inefficiencies that are often overlooked. 9. Change is good, and necessary although not always welcomed; only the companies willing to constantly change will survive and thrive. 10. A constant and sustained focus on improving Gross Profit Margin can yield huge financial dividends; over time Fralock has been able to increase GPM by over 50%. 11. Sharing financial information with all employees will turn most employees into owners of their responsibilities and results. 12. Give people the tools to do the job they have been hired to do and get out of their way so they can achieve their goals.

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FINANCIAL SERVICES:

The Millennial Factor business, Renno has observed how each generation approaches the home-financing process, and there are differences. “Millennials prefer to use automation and online tools to reduce time needed to go through a process like buying a home,” Renno said. “So much can be done on their phone or tablet that they often don’t see the value of meeting one on one. So they’re less likely to want to meet in person than older generations, who tend to want to build a relationship.” As a result, Renno said that millennials are less likely to refer friends to the firm. Millennials are more transactionoriented and they want information quickly, Renno said. “They’ll shop around online, they want data and time to process the numbers. Then they make a decision.” Just as patients bring information they’ve gathered online to their doctors, so do Renno’s clients, and

“

 Keith Renno, WinTrust Mortgage

 Erick Arndt, LPL Financial

By Patrick Mullen

baby boomers (ages 52 to 70), according to the Pew Research Center. The millennial population is expected to continue growing until 2036 as a result of immigration. They are the first generation of digital natives, those who came of age since the advent of the Internet. “Millennials, and at age 32, I am one, are more tech savvy and prefer a streamlined process,” said Keith Renno, a senior loan originator with WinTrust Mortgage in Valencia. He noted that millennials now make up half the home-buying market. Different Approaches After 12 years in the mortgage

SCVBJ Editor illennials, those born in the 1980’s and ’90s, have become America’s largest generation, passing the baby boomers. The oldest millennials are entering their peak earning years, buying homes and making investment decisions. As they do so, they are reshaping the financial services industry with tools and preferences that are unlike earlier generations. Last year, there were an estimated 79.8 million millennials (ages 18 to 35) compared with 74.1 million

not all of it is accurate. “People bring in all kinds of online due diligence, and while sometimes they

Millennials prefer to use automation and online tools to reduce time needed to go through a process like buying a home.”

a quarter of Millennials are investing, most saving in cash or accounts

have correct information, they also can bring in outdated or incorrect information, and we have to explain some things.” As with any generational cohort, millennials are not a monolith, and “it would be a mistake for financial marketers to treat millennials as a homogeneous group,” said Dan Simon, co-founder and CEO of Vested, a financial communications firm in New York that recently surveyed millennials about their attitudes

So far, millennials chooseSave saving over investing. How Americans 60% 64%

Checking/savings

51% 39% 18% 17% 21%

Investing on my own

26%

Millennials Investing: 24%

10% Investing with advisor/robo-advisor

7% 18% 27%

Cash

12% 12% 10% 8%

All Millennials Gen X Baby Boomers

Base: Those saving Total=907; Millennials=735; Generation X=87; Baby Boomers=85 Q23. How are you primarily saving?

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P E R C E N T W H O H AV E R E V I E W E D I N V E S T M E N T P O R T F O L I O

SANTA CLARITA VALLEY BUSINESS JOURNAL 9

F O R I M PA C T 2 P E R C E N T W H O H AV E R E V I E W E D I N V E S T M E N T P O R T F O L I O F O R I M PA C T 2

LEGEND

Millennials lead the shift to impact investing.

P E R C E N T W H O H AV E R E V I E W E D I N V E S T M E N T P O R T F O L I O 73%

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0% and investing (see toward money sidebar, page 9). 2 0 1 3 Vested’s survey found that millennials between 18 and 22 years old said the Great Recession did not have much of an impact on them, while those at the other end of the age bracket very greatly felt, and continue to feel, negative impact. Millennials were just entering adulthood during the recession that started in 2008, which contributes to a more conservative approach to investing than earlier

21% 22%

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13%

generations. Nearly two thirds of 2 0 1investors 4 2 0 decisions 15 U.S. say their are still influenced by the global financial crisis of 2007–8, according to the 2017 Legg Mason Global Investment Survey of 15,300 investors in 17 countries across Europe, Asia Pacific, Latin America and the United States. The impact was felt most severely among millennials; almost 6 in 10, 57 percent, say it ‘strongly’ impacts their investment decisions, compared with 39 percent of members

29%

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of Generation X and only 13 per0 1 6 boomers. 2017 cent of2baby Given the scale of economic carnage that many young investors witnessed firsthand in their own lives and those of their families – and the degree to which attitudes are shaped in late adolescence and early adulthood, the fact that millennials describe themselves as more conservative about risk (85% described themselves as either “somewhat or very conservative”) isn’t surprising, according to Legg Mason.

But an unwillingness to take risk in early adulthood could have a negative impact on their future wealth by sacrificing the potential for longterm gains, compounded over time. Millennials share a handicap with members of Generation X, and that’s a lack of financial literacy, according to Erick Arndt, a wealth advisor with LPL Financial in Santa Clarita. “We’re still not teaching financial concepts” in our schools,

“WOMEN AREARE STILL LEADING THETHE CHARGE IN IN “WOMEN STILL LEADING CHARGE IMPACT INVESTING, ALTHOUGH MENMEN CONTINUE TO TO IMPACT INVESTING, ALTHOUGH CONTINUE “WOMEN ARE STILL LEADING THEALL CHARGE IN SHOW INCREASED INTEREST. GENERATIONS SHOW INCREASED INTEREST. ALL GENERATIONS IMPACT ALTHOUGH MENMILLENNIALS—ARE CONTINUE TO OF INVESTORS—NOT JUSTJUST MILLENNIALS—ARE OFINVESTING, INVESTORS—NOT SHOW INCREASED INTEREST. ALL GENERATIONS IN TUNE WITHWITH CORPORATE AMERICA’S EFFECT ONON IN TUNE CORPORATE AMERICA’S EFFECT Millennials and Money Survey: Key Findings OFSOCIETY INVESTORS—NOT JUST MILLENNIALS—ARE AND THE ENVIRONMENT.” SOCIETY AND THEfirm,ENVIRONMENT.” Vested, a financial communications surveyed millennials to learn more about their attitudes toward IN TUNE WITH CORPORATE AMERICA’S EFFECT ON money and investments. Here are some highlights. SOCIETY ANDWhen THEpossible, ENVIRONMENT.” • Millennials aren’t a monolith. parse for age segments, safety is the #1 reason millennials gave for choosing a banking product. While

See MILLENNIALS, page 16

JACKIEJACKIE VANDERBRUG VANDERBRUG MANAGING DIRECTOR, CO-CHAIR IMPACT INVESTING COUNSEL, U.S. TRUST MANAGING DIRECTOR, CO-CHAIR IMPACT INVESTING COUNSEL, U.S. TRUST

recognizing that 30–35’s are vastly different from 20–24’s.

data privacy is generally twinned with data safety, in this survey, privacy came

Significantly fewer men use debit than women: 26% vs. 44%.

Millennials between 18 and 22 years old say the Great Recession did not have much of an impact on them, while those at the other 9 end of the age bracket very greatly felt, and continue to feel, its negative impact.

JACKIE VANDERBRUG in last as a rationale, at 8%. • Debit cards are2 U.S. usedTrust by 38% of respondents. Debit card usage falls with(2013–2017) age and wage. 2DIRECTOR, Insights Wealth Worth® survey MANAGING CO-CHAIR IMPACT INVESTING COUNSEL, U.S. TRUST U.S. Trust on Insights onand Wealth and Worth® survey (2013–2017)

• Overall, credit cards are favored by 34% of respondents. The popularity of credit is 2 U.S.of Trust on Wealth and Worth® (2013–2017) inverse to that debit.Insights Credit cards usage grows with agesurvey and income. • PayPal is surprisingly strong, used by 19% of respondents. Those who favor PayPal skews younger (20–24) more affluent, and male.

• Bitcoin is still a niche. Only 17 percent of millennials use the digital currency, and this • One in five millennials at the $100K+ income level are so far staying out of the market, use is fairly consistent among all sub-sections of the sample. and have yet to choose investment vehicles or retirement products. • Female millennials are significantly less likely to take a credit card than their male • Financial products shouldn’t always be marketed uniformly. Women, for example, counterparts. aren’t as attracted to widgets or services described as “innovative.” Far more skeptical • Having a high income, being male, and living in a city are predictive of high levels of than men, they want to see the benefit. interest in cloud banking, or banks without physical branches. • The affluent, men, and older millennials are greatly influenced by their social networks. • The millennial generation — despite being digital natives — wants and prefers inperson customer service. To capture those who aren’t currently open to online banking, it’s important to create an online customer experience that responds to their needs, be it with conventional call centers or bots.

• Rewards and perks matter when persuading users to try innovative banking products. The vast majority of millennials, 88 percent, would adopt more financial products if those products offer more incentive programs.

• Millennials’ trust in banks is dramatically low. They trust governments and the press • The cultural and political volatility of this moment does have an impact on financial more than they trust banks. decision making, especially when we look at women and the affluent. These groups • Respondents place greater trust in big tech than in traditional banks, so need assurances that their savings and investments are secure. financial service innovations should be marketed as tech solutions (as PayPal • Millennials care about data safety but not about data privacy. At 32%, data has done with Venmo), not as “big bank” solutions.

9 9

SANTA CLARITA VALLEY BUSINESS JOURNAL

JULY 2017

SCV'S BuSineSS & Real eState law FiRm BUSINESS LAW REAL ESTATE CORPORATE, LLC FORMATION CIVIL LITIGATION BUILDING & CONTRACTOR REPRESENTATION EMPLOYMENT LAW CONTRACT NEGOTIATION AND DRAFTING COMMERCIAL LAW INSURANCE COVERAGE ISSUES At Kanowsky Law we get to know our clients and gain a thorough understanding of the needs and challenges of their business. We can advise them on their unique issues from both a business and legal perspective.

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Eric Abbott, President. Resolute Transportation, Inc.

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SANTA CLARITA VALLEY BUSINESS JOURNAL 11

JULY 2017

FINANCIAL SERVICES:

Mid-career conflicts stall women’s rise to leadership roles

WOMEN IN FINANCIAL SERVICES

Women on executive committees at major financial services firms, 2016

EXHIBIT 3: FEMALE REPRESENTATION FOR VARIOUS EXCO ROLE GROUPS IN MAJOR FINANCIAL SERVICES ORGANIZATIONS (2016) WOMEN IN FINANCIAL SERVICES 7% 7%

55%

12%

EXCO ROLE REPRESENTATION (2016)

55%

12% 13%

14% 10%

12%

EXCO ROLE REPRESENTATION (2016)

Finance Head of Operations and Strategy and Head of IT

Legal,OF Audit Risk and Business Finance Head HR and ExCo EXHIBIT 4: of PERCENTAGE EXCOTotal MEMBERS WHO ARE WOMEN, BY SECTOR

2013

CEO 2016 8% 7%

Source: Oliver Wyman analysis of organization disclosures

12% 13%

14% 10%

15%

Business lines 14% 12%

Risk and Actuarial

Total ExCo members 16% 14%

Legal, Audit Head of HR and Head of Marketing and Control

2016 8% 7%

14% 12%

15% 7%

30% 30%

16% 14%

30% 30%

Head of Operations and Head of IT

2013

CEO

Percentage of executive committee members who 19 19 are 18 women, by sector

16 16 EXHIBIT 4: PERCENTAGE OF EXCO MEMBERS WHO ARE WOMEN, BY15SECTOR 14 14 10

Asset management

Public sector

Market infrastructure

2013

2008

15 2003

2013

2008

2003

2016

2013

2008

2003

2016

2013

2008

16 13 13

2016

12 11 10 Insurance

2016

16 2003

13 13

2013

and Strategy

2008

lines

2003

Actuarial

2016

Head of Marketing and Control members 23 22 Source: Oliver Wyman analysis of organization disclosures

9 Banking

2016

2013

2008

2003

2016

2013

2008

2003

2016

2013

2008

2003

2016

2013

2008

2003

2016

2013

2008

2003

Source: Oliver Wyman analysis of organization disclosures

Public sector Asset management Market infrastructure Insurance Banking Broadly, things are moving in the right direction. But a closer Women are best represented in the public sector (central banks Source: Oliver Wymanauthorities), analysis of organization look at the data reveals two causes for concern. and supervisory a factdisclosures that holds true in almost every country surveyed (see our deep-dive article on women in the public sector on p.40). In each sector, ExCo female Broadly, things are moving in the right direction. But a closer Women are best represented in the (central banks representation is greater in 2016 thanpublic it wassector in 2003. look at the data reveals two causes for concern. and supervisory authorities), a fact that holds true in almost every country surveyed (see our deep-dive article on women in the public sector on p.40). In each sector, ExCo female representation is greater in 2016 than it was in 2003.

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strategy. Develop bolder structural solutions by providing more flexible working options at all levels, and finding ways to remove the stigma associated with using them. Encourage men and women to take parental leave and develop better returnship programs. Address the promotion and pay gap, understanding that this is likely to be driven by invisible cultural factors. More profound underlying cultural change: Build an inclusive culture that recognizes and promotes the value of diversity along all dimensions, is free from unconscious bias and therefore supports gender balance. This means putting practice ahead of theory, supporting men to support women and seeking enlightened leadership. Astrid Jäkel is a partner and Ted Moynihan is a managing partner with the global management consulting firm Oliver Wyman, a unit of Marsh & McLennan. This is an excerpt from the firm’s “Women in Financial Services 2016” report. Jäkel is principal author.

45% 46%

ur global survey of financial services employees shows that women enter the financial services industry with the same ambition level as men, retain this ambition for the first years of their career, and usually also have similar ambition later in their careers. However in mid-career, a significant gap opens between men and women in their willingness to make sacrifices in their private lives and in their career ambition levels. It is at this point in their career that women vote with their feet. Internal labor market data from our sister company Mercer shows that the exit rates of women in financial services in the mid-part of their careers are not only higher than those of their male colleagues, but also significantly higher than in other industries. Female managers, senior managers and executives in financial services are 20 percent to 30 percent more likely to leave their employer than their peers in other industries. Female representation is growing on financial services boards (20 percent in 2016) and executive committees (16 percent in 2016), but progress is slow. At current rates of growth, financial services globally will not reach even 30 percent female executive committee representation until 2048. Our analysis of 381 financial services institutions in 32 countries shows two concerning patterns: First, female

perspectives, better service to customers by better representing them, and a stronger economy, thanks to greater and more effective participation in the workforce by women. What is slowing the progress of gender balance in financial services? Partly, it is that well-intentioned organizations have not found the right recipe for advancing women and the right way of combining the various ingredients, such as flexible working arrangements, sponsorship, and cultural change. Partly, the problem is that diversity is too often seen as part of corporate social responsibility or fairness in the workplace, rather than as a commercial imperative. The appreciation of diversity’s value exhibited by our interviewees does not yet pervade the industry. Moving financial services firms towards gender balance will require a mix of bolder structural solutions and more profound underlying cultural change. Our key recommendations: Bolder structural solutions: Set an executive committee talent pipeline

45% 46%

By Astrid Jäkel and Ted Moynihan

representation on executive committees is growing much slower than on boards. Second, the growth observed comes only from some countries. In many countries, there is little, no, or even negative growth in female representation on executive committees. Without doubt, there has been significant effort and investment in attracting more women to financial services and in developing more of them into leaders. Many organizations have initiated recruiting, networking, sponsorship and training programs targeted at women. Many of the visible processes have been improved for equal opportunity. So why has the industry not been more successful in progressing towards gender balance at the top? Our statistical data, survey responses and interviews suggest that many women face a mid-career conflict. At this point, the costs of a career, especially the sacrifices in their personal lives, seem too great in relation to the uncertain benefits of pressing on. Women face a less attractive career trade-off than men – a difference to which the following factors contribute: • Insufficiently flexible working options and stigma for using them • Insufficient support for family responsibilities, for both women and for men • Shortcomings with regard to predictable, transparent and equitable promotion processes and equal pay • Persistent sources of low inclusion in culture affecting women such as invisible unconscious biases and traditional assumptions. Placing more women in senior roles has been a priority in many countries for the past decade. Targets have been set and initiatives launched in financial services, along with other industries where women are under-represented at the top. Yet progress remains slow. The problem is not that the financial services industry does not recognize the benefits of diversity. Many of those we interviewed, women and men, acknowledge them. Gender balance is an important aspect of diversity. It provides access to the full talent pool, better decision making by bringing together different

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SANTA CLARITA VALLEY BUSINESS JOURNAL

JULY 2017

FINANCIAL SERVICES:

Knowledge Exchange: Calvin Hedman and Lisa Eichman Calvin Hedman Company: Hedman Partners, accounting Title: President Born: Bowman, N.D. Education: University of North Dakota; CSUN, Bachelor’s in business administration, accounting option Hobbies: Golf, basketball, traveling Motto: When you’re growing, no one really knows what they’re doing.

 SCVBJ's Patrick Mullen interviews Lisa Eichman, right, and Calvin Hedman at Hedman Partners as part of a knowledge exchange on May 31, 2017. Katharine Lotze/The Signal

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LH_IHW 10/16/16 (27424)

Calvin Hedman and Lisa Eichman are long-time Santa Clarita residents (he for 40 years, she for 30) who work in different parts of the financial services industry. Hedman founded Hedman Partners, a public accounting firm, in 1994, which serves companies with revenues of $10 million to $150 million. He chairs the executive committee of the SCV Economic Development Corp. Eichman and her husband Craig run a tax advisory service for high net-worth individuals and small businesses. They also own Gymnastics Unlimited, the largest gymnastics school in the Valley. While she is a member of the Santa Clarita Planning Commission, in this interview, Eichman is speaking solely for herself. Hedman and Eichman spoke recently with SCVBJ Editor Patrick Mullen. SCVBJ: Lisa, how did you get into tax planning? Eichman: When I was at CSUN, I really loved my upper division tax classes. I didn’t really like accounting much. I knew that you had to take those classes to graduate with an accounting degree but I knew right away that I didn’t like that and the tax and the business law, I was in love with taxes. SCVBJ: Why? Eichman: I like the creativity. I’m a Libra and I like to be creative. At my first job, they put me in the tax department. I had to learn 18,000 pages of tax law my first year of public accounting. I really liked taxes and it was really fun to be part of all of that and the changes. SCVBJ: Calvin, you’re a CPA. What do you like about it?

Lisa Eichman Company: Eichman and Eichman, tax advisors Title: Managing Partner Company 2: Gymnastics Unlimited, youth sports program Title: Owner and Chief Operating Officer Born: West Hills, Calif. Education: CSUN, bachelors of science in business administrationaccounting theory and practice Hobbies: Ocean cruising, boating, paddle boarding, reading and playing with my two shelties, wine tasting with my husband Motto: For my tax business: The crucial choice for managing wealth For my gymnastics school: Without you there would be no GU Hedman: I decided to get into accounting back in high school. I liked the bookkeeping, accounting. And so I did a report on it and thought, wow, they’re making $14,000 a year. I planned on being an accountant and I’m one of those few people that knew what I wanted to do and did it. I graduated and went to work with Alexander Grant – now Grant Thornton. I was on the audit side. I liked advising business and became an audit partner. Then I decided to work closer to home and start my own practice. SCVBJ: What is it about this place that keeps you here? Eichman: When I was getting ready to graduate from CSUN, I knew that if I stayed in the San Fernando Valley, my kids, who I didn’t have yet, were going to have to go to private school. I didn’t like that. So I started looking and I found Valencia and I bought a condo when I was 22. Hedman: I scoured Southern California to decide where I wanted to live from a business standpoint. Not really, that’s a joke. I moved here because my sister lived here. SCVBJ: What makes this a good place to do business? Eichman: We’re a very family-oriented community. When my client who owned Gymnastics Unlimited asked us if we wanted to buy it, we knew with the kids here and the families and the community that we could just kill it. It’s a safe community. We have a lot of people here but it still feels small. Hedman: The community has a

SANTA CLARITA VALLEY BUSINESS JOURNAL 13

JULY 2017

cooperative nature. The Economic Development Corp. was formed from efforts from the Chamber of Commerce. Dianne Van Hook and College of the Canyons have done a great job working with businesses, seeing what their issues are, helping them address that from a workforce standpoint. COC is a great place to get those first couple years of college done and then go from there. SCVBJ: Has finding good employees become more difficult over time? Eichman: I have 25 employees. It’s become more and more difficult. That’s why I don’t expand into the building next door. Applicants come in and say they have qualifications and then we find out that they’re not experienced. They didn’t even research our company when coming in for an interview. That’s shocking. We have an ill-trained workforce out here in certain areas.

standpoint. Every year there are more and more laws that go into the books that make it difficult to do business. Eichman: Yeah. Poole & Shaffery is my HR department. I have a lot of worker’s comp issues, injuries, things like that and I have to be guided through it. And what they told me a year ago is not the same this year. It is a very litigious state as well. The regulations just get worse. Hedman: That’s an understatement. It’s why you see companies putting their expansions somewhere else. SCVBJ: What can be done if anything locally? Is it a matter of lobbying? Hedman: A few years ago we just had the enterprise zone, which was helpful for a lot of businesses here. And they

replaced that with the California Competes credit which is designed for someone who is expanding or growing. They want to encourage them to do that here. Hedman: I think if it wasn’t for the weather here and the desire to live here, a lot more businesses would be out of here. SCVBJ: What’s your sense of what the economy’s going to do in the next year or two? Hedman: I think for the next year it’s still strong. On July 1st, we have an increase in the minimum wage. It’s $12 except for in the city of Santa Clarita, which follows state law and doesn’t go up until I think another couple of years. That’s the first increase. We’re going to see the effect in restaurants. Some of them already have

it where at the table you order with a device. That’s on the retail side and you’re going to see even more I think on the production side. Companies will look at ways to be more efficient with robotics. Eichman: The same is true with hostesses and the service industry. What do businesses do? They’ll raise prices but they can’t raise them so much that no one’s going to go there. So we’re going to start getting rid of those positions. You see it at the COC job fair. The higherage people are unemployed with these amazing résumés. Their jobs have dissolved. It’s really sad. I think it’s just the state. SCVBJ:Younger entrepreneurs would love to get more mentorship help from See KNOWLEDGE, page 23

SCVBJ: In terms of critical thinking skills? Eichman: Yes. I’ve noticed in the 11 years that I’ve had Gymnastics Unlimited that if you didn’t go to college, and I don’t care if it’s in underwater basket weaving, you don’t learn critical thinking. I have much more success with those who have those skills. I can’t quantify it except for that college experience. SCVBJ: Calvin, have you seen some of the same things? Hedman: Yes. In our case, we’re looking for experienced individuals and as easy as you might think it should be with the Internet, it’s hard to find qualified individuals. SCVBJ: Why do think that’s the case? Hedman: I think part of it might start at the high school level. I’ve heard statistics from COC and other schools that applicants have to first go into a preparatory type math class. Eichman: I have to send most of my staff to classes to learn basic business writing. SCVBJ: What was the state-of-the art financial technology you used at the gym in 2005 when you started? Eichman: The old owner had a DOSbased. The system that I have today is cloud based so I can work from my boat in Ventura and at my desk at home. I don’t have to go to the gym and that’s really saved us. For the tax practice I use Lacerte from Intuit. I used CompuTax back in public accounting days. SCVBJ: What did you use when you were getting started in your career? Hedman: It was an old Compaq – big as a sewing machine. Eichman: The size of an auditor’s box. I got my first home computer in 1985. I remember it was $3,000. I had to use a typewriter to do my last year’s projects. SCVBJ: Let’s talk about California as a place to do business. You both spent your entire careers here. Are we losing jobs because of regulations? Hedman: Sacramento’s making California a business warzone. It’s impossible for businesses to continue with the traditional regulations, the legal environment and from a worker’s comp and labor Victor - Business Journal.indd 1

5/15/17 8:41 AM

SANTA CLARITA VALLEY BUSINESS JOURNAL

JULY 2017

State approves Newhall Ranch; county action expected this month By Patrick Mullen SCVBJ Editor alifornia’s Department of Fish and Wildlife last month approved plans from developers of Newhall Ranch to reduce greenhouse gas emissions and protect an endangered fish species. On June 14, the department certified a final additional environmental analysis, declared those two issues resolved, and re-approved the project plan, the department said in a statement. Fish and Wildlife originally approved the project in December 2010 after preparing and certifying an environmental impact report. In 2015, the California Supreme Court directed the department to more closely review the project’s impact on greenhouse gas emissions and measures to protect the unarmored three spine stickleback. The court directed the department to revisit its 2010 determination that the project’s greenhouse gas emissions would not be significant under the California Environmental Quality Act. The court also asked the department to determine if two mitigation measures that it had approved violated protections afforded the species because it is designated as “fully protected” under the Fish and Game Code. Those measures authorized collection

and relocation of the native fish, which is protected under state and federal law. In response to the court’s orders, Newhall Land and Farming Company, a unit of Five Point Holdings LLC, commonly known as FivePoint, revised its greenhouse mitigation plan. FivePoint owns Newhall Land, which developed Valencia over the last half century. Newhall Ranch sits on 15,000 acres near the intersection of state route 128 and I-5. “We are excited about today’s decision from the California Department of Fish and Wildlife to re-approve Newhall Ranch, one of the most environmentally responsible projects in the nation, and we are grateful for the hard work and creativity of our team and our partners,” Emile Haddad, chairman and CEO of FivePoint, said in a statement on June 14. “We look forward to going before the Los Angeles County Board of Supervisors next month for final re-approval of our first two villages, Landmark and Mission, and look forward to the courts ultimately confirming our plans for living and working sustainably in California,” Haddad said. The Board of Supervisors is expected to take up the issue at its July 18 meeting. If fully built out, the nine-phase

project could contain 21,000 homes and 11.5 million square feet of commercial and industrial space. In addition to Newhall Ranch, FivePoint owns Great Park Neighborhoods in Irvine and The San Francisco Shipyard/Candlestick Point in San Francisco. The communities are planned to include approximately 40,000 residential homes and approximately 21 million square feet of commercial space, plus infrastructure. FivePoint’s shares started trading on the New York Stock Exchange in May. Last month, six market analysts began covering FivePoint’s stock, which has traded in the $14 - $15 range. Four firms (Evercore ISI, JMP Securities, J. P. Morgan Chase & Co., and Royal Bank of Scotland) expect the stock to outperform the market and reach a share price between $18 and $23. Citigroup rates the stock a Buy, and forecasts a share price of $20, while Wells Fargo expects the stock to track the wider market. Newhall Land developed 13 measures to reduce greenhouse gases in a plan it calls Net Zero Newhall, to achieve net-zero emissions for the project. FivePoint touts Newhall Ranch as the largest net zero greenhouse gas emissions project in the nation. The California Air Resources Board reviewed the revised project

 Emile Haddad, CEO of FivePoint.

and concluded that there is an adequate basis to determine it does not result in any net additional greenhouse gas emissions. To protect the stickleback’s habitat, Newhall Land proposed changes in the timing and construction methods for project bridges and bank stabilization infrastructure that will avoid all water contact during the construction of those facilities. According to the Fish and Wildlife department, these changes eliminate the need for the two stickleback-protection measures the department approved in 2010. 

SIGNAL DIGITAL SPOTLIGHT

LuLaRoe retailer harnesses social media to grow business By SCVBJ Staff

gift from her sister changed Valerie Bernardo’s career path a year ago. “She won a pair of leggings in a raffle and gave them to me,” she said. “They were super soft and comfortable, and I was hooked.” Bernardo, a lifelong resident of Valencia (“I was born at Henry Mayo Newhall Hospital”) except for a few years in San Francisco, found that the leggings were from LuLaRoe, fashion brand founded in 2013 by DeAnne and Mark Stidham in Corona, California. It is named for DeAnne Stidham’s three oldest grandchildren, Lucy, Lola and Munroe. Its products are sold by independent contractors, and Bernardo liked what she saw enough to become one herself. “We make clothes to fit all women of all sizes from extra extra small to 3XL,” she said. “Our clothes are designed to flatter all body styles.” It’s not a bricks-and-mortar store, but a mobile boutique. “For the most part, I keep it at my home, and I bring it to other locations and host pop-ups.” LuLaRoe is only four year old, so the brand is not yet as well established as some other clothing lines, Bernardo said. And because it uses the direct-sale model through representatives like Bernardo, the company doesn’t sell online. To get the word out to potential customers, Bernardo turned to Signal

 Valerie Bernardo

Digital Solutions. “Marketing is not my strength,” she said. “Helping women feel beautiful is my strength.” “Signal Digital Solutions helps me find customers through the use of social media,” Bernardo said. “They keep my current customers engaged, and they use my input to get my message out to the audience I’m trying to reach.” Bernardo said the strong sense of community she’s always felt in Santa Clarita helped prompt her decision to move back home when she was starting a family. “I loved growing up here, and my parents still live in the same house I grew up in. I wanted my son to have the same kind of upbringing.” 

SANTA CLARITA VALLEY BUSINESS JOURNAL 15

JULY 2017

BioSolar inks lithium-ion marketing deal with Top Battery assess, develop, manufacture, and/ or market high power high energy lithium ion batteries integrating both companies’ technology. “We are excited to partner with BioSolar, a company whose technology represents tremendous upside in the field of lithium-ion battery manufacturing,” said Whan Jin Roh, CEO of Top Battery.

“We are hopeful that BioSolar’s focus on silicon alloy nano-composite anode material development will yield results that ultimately reduce costs and improve efficiencies, a series of objectives that would immediately be of interest to the global market.” BioSolar’s high capacity cathode or anode is designed to enable battery manufacturers to create a super

lithium-ion battery that could double the range of a Tesla, power an iPhone for two days straight, or store daytime solar energy for nighttime use, the company said. Top Battery, based in Incheon, Republic of Korea, develops and produces lithium-ion batteries and materials for application in electric vehicles and energy storage systems. 

YOUR SUCCESS IS OUR MISSION  David Lee, BioSolar CEO

By SCVBJ Staff

ioSolar, Inc., a Santa Claritabased developer of high-capacity energy storage technology and materials, will jointly develop advanced lithium-ion batteries with Top Battery Co., a South Korean battery maker. The engineering collaboration, announced June 6, will focus on developing electrodes, cells, and batteries using BioSolar’s low-cost silicon alloy nanocomposite anode material.

BioSolar’s high capacity cathode or anode is designed to enable battery manufacturers to create a super lithium-ion battery that could double the range of a Tesla. “We are pleased to have Top Battery as a development partner, given their experience in incorporating innovative and developing technologies such as our own, and bringing them to market,” said David Lee, BioSolar’s CEO, in a statement. “We are confident that this partnership and its subsequent results will continue to demonstrate not only higher performance but also better price points, strengthening BioSolar’s commercial viability and market potential.” Top Battery has experience incorporating technologies such as BioSolar’s anode material and in designing and manufacturing lithium-ion electrodes, cells and battery systems for customers. BioSolar and Top Battery will

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SANTA CLARITA VALLEY BUSINESS JOURNAL

JULY 2017

Castagna takes reins as CEO at MannKind M By SCVBJ Staff

annKind Corp.’s board of directors appointed Michael Castagna as chief executive officer and appointed him to the company's board. The Valencia-based biomedical company markets Afrezza, an inhalable form of insulin. Castagna replaced Matthew Pfeffer, effective May 25. Pfeffer served as CEO and chief financial officer since January 2016 and as CFO from 2008 to 2016. Pfeffer will continue with the company in an advisory capacity until the end of this month. “The Board is extremely grateful to Matt for his committed service to the company over the past nine years,” board chair Kent Kresa said in a statement. He added that Pfeffer “successfully set the foundation for the company during its transition into a commercial entity and effectively prepared Michael to be his successor.” As chief commercial officer, Castagna “built the capabilities from the bottom up necessary to position Afrezza and the company for future growth,” Kresa said. New prescriptions of Afrezza have shown a steady increase since the MannKind launch and future prospects for this innovative product are strong, Kresa said. Prior to joining MannKind, Castagna spent three years with Amgen Inc., as vice president, global commercial lead for a portfolio of nine biosimilar drugs, and vice president, global lifecycle management. Prior to Amgen, Castagna was executive director of Bristol-Myers Squibb’s immunology franchise. He also has worked at Sandoz (Novartis), EMD (Merck),

Serono, Pharmasset and DuPont Pharmaceuticals. He received his bachelors of pharmacy degree from Philadelphia College of Pharmacy, his doctor of pharmacy from Massachusetts College of Pharmacy, and MBA from the Wharton School of Business at the University of Pennsylvania. “Our inhaled insulin, Afrezza, is a truly differentiated brand that will help millions of people suffering from diabetes, said Castagna in the company’s statement. “Our relentless focus on empowering people to conquer the daily struggle of managing their diabetes will set MannKind apart.” Rose Alinaya, the company’s senior vice president and principal accounting officer, will serve as acting chief financial officer until a permanent CFO is named. In early June, MannKind hired a consulting firm to help find partners to develop new uses for Technosphere, its proprietary platform for delivering Afrezza and other inhaled medications. The company has retained Locust Walk, a Boston-based life sciences transaction advisory firm focused on biopharmaceutical and medical technology companies. “MannKind has focused its financial resources on the commercialization of Afrezza and is seeking alternate means to fund our other development programs for the Technosphere platform,” said Raymond Urbanski, MannKind’s chief medical officer, in the statement. “I am excited to collaborate with Locust Walk, who has extensive global experience in pharmaceutical

SetPoint Medical names David Chernoff, M.D. as chief medical officer

etPoint Medical, a clinical-stage biomedical technology company developing a bioelectronic therapy for chronic inflammatory diseases, has appointed David Chernoff, MD, as chief medical officer. Chernoff, a molecular diagnostics and biopharmaceutical industry veteran, will oversee all clinical development activities for SetPoint as the Valencia-based company develops its bioelectronic medicine platform, according to a company statement. “The depth and breadth of David’s expertise in advancing and commercializing a wide range of products make him an ideal fit for SetPoint,” said Anthony Arnold, the company’s CEO, to whom Chernoff will report. “With his combination of senior clinical leadership experience and key commercial perspective, David is uniquely qualified to lead our clinical team as we prepare for the next phase of clinical development using our new proprietary bioelectronic medicine therapy.” Privately held SetPoint is developing treatments for inflammation-mediated autoimmune diseases, using an implanted device to stimulate the vagus nerve, activating the body’s natural inflammatory reflex to produce a systemic antiinflammatory effect. The emerging field of bioelectronic

medicine aims to address unmet patient needs by delivering digital doses to modulate physiological circuits to treat diseases historically treated with drugs in a more highly targeted fashion. “This is a tremendous opportunity to create an entirely new category of therapeutics designed to treat autoimmune diseases using the rapidly advancing technology of bioelectronic medicine,” Chernoff said. “SetPoint’s unique approach clearly establishes a novel path to meet the unmet needs of patients with chronic inflammatory diseases, and I look forward to becoming part of the SetPoint team poised to advance bioelectronic therapies and position the company for continued growth.” Prior to joining SetPoint, Chernoff has served as a consultant to more than 40 biotechnology, pharmaceutical and medical device companies and has held chief medical officer posts with several companies. He was a principal with life sciences management consulting firm Keelin Reeds Ventures and entrepreneur in residence and operating partner at TPG Biotech VC Fund. He received a Bachelor of Science degree in molecular biology from Yale University and an MD from New York University. 

 Michael Castagna, formerly chief commercial officer of MannKind Corp., is now CEO. Courtesy photo.

partnering, to help bring our product candidates to market,” he said. These include treatments for anaphylaxis, pulmonary arterial hypertension, and chemotherapyinduced nausea and vomiting. Technosphere “is characterized by an ultra-rapid onset of action, simple and needle-free administration, avoidance of hepatic metabolism, and improved bioavailability,” the company said. Locust Walk will seek strategic partners and investors to advance the development of Technosphere-based therapies which demonstrate benefit across a variety of treatment areas, including but not limited to hypertension, anaphylactic shock, nausea, respiratory disease and pain. 

MILLENNIALS Continued from page 9 and it’s having an impact. “Our corporate clients bring us in once they have a 401K, and we sit down with each employee. But we don’t have enough time in our one-one-one meetings to teach the basics of financial literacy,” he said. When baby boomers were in their 20s, they weren’t being bombarded with marketing the way millennials are today, Arndt said. “They’re being targeted constantly, and they fall prey to spending beyond their means.” Arndt, 46, recalled sharing an inexpensive landline with roommates in his early 20s. Today, “everyone has a cell phone, maybe a couple of other devices, an insurance plan on those devices. Add college debt to that burden, and the cost of a car payment, plus insurance plus gas. Every dollar of their paycheck is spoken for before they can cash it.” Being stretched financially is affecting how and where millennials live. While one in four (27 percent) of younger millennials (ages 2127) and more than half (56 percent) of older millennials (ages 28-34) are home owners, young adults are more likely to be living

in their parents’ home than in any other living arrangement, according to the Pew Research Center, a nonpartisan think tank in Washington. This is the case for first time in more than 130 years. Another shift in millennials’ approach to investing is a greater emphasis on impact investing, designed to achieve measurable social or environmental goals along with a return on investment. Since millennials are in line to inherit trillions of dollars from their parents and grandparents, this could transform charitable giving. Overall, 45 percent of all high-networth investors either own impact investments or are interested in adding them to their portfolios, according to research by U.S. Trust. Millennials show the greatest interest in investing for impact, at 52 percent, compared to Gen X at 37 percent and baby boomers at 29 percent. Among those who expressed an interest in impact investing, more than half (55 percent) said it was because they simply believe it’s the right thing to do, U.S. Trust found. Nearly as many said they believe in greater corporate accountability, while four in ten said that companies that have a positive social impact also have better financial performance. 

SANTA CLARITA VALLEY BUSINESS JOURNAL 17

JULY 2017

FINANCIAL SERVICES:

12 tips for choosing a financial advisor By Bruce R. Wright

art of selecting good advisors is being able to take our ego and emotions out of the process. A lot of financial advisors who want to do business with us are going to attempt to get that business by telling us what we want to hear and, in effect, pandering to our egos and making us feel good about ourselves. Sometimes what we really need is for somebody to hit us between the eyes with a two-by-four called the truth and tell us that we might be acting as our own worst enemy. Unfortunately, there’s no guarantee that the advisors we pick are going to do the best job for us. But there are ways we can effectively weed out those who won’t and give ourselves a better chance at picking those who will. Here are some guidelines for choosing advisors: • Congruent agendas: Recognize your advisors’ agendas by asking, “What’s in it for them?” Make sure their agendas are in alignment with yours. There is nothing wrong with advisors wanting to provide for themselves and their families, but make sure their self-interest doesn’t override the benefit to you. • Don’t deal with dabblers: No one person can expertly handle all the complex strategies needed to manage your wealth. When something as important as your personal or family security or wealth is involved, get the best help available. Would you rather have a

general practitioner or a neurosurgeon performing your brain surgery? • Check referrals: Advisor candidates will only provide you with good referrals. Besides talking to satisfied clients, check to see if the advisor is recommended by other highly qualified professionals or organizations. How much should you bother? If your money is important to you, check! • Selective disclosure: Are your advisors letting sleeping dogs lie? Are your advisors only telling you what they want you to know so that you fulfill their agendas but not your own? The best defense against this problem is to get second opinions and work with a proactive team of high-level advisors. • Honesty: You want advisors with integrity. If they can’t answer a question, will they admit it and bring in specialists to help you? Many advisors won’t bring in specialists because they’re afraid they’ll lose you as a client if they seem less knowledgeable. Some are too greedy to let the revenue go to someone else, or their ego won’t allow them to interact with other advisors. Look for advisors who are honest about their ability and capable of working with other advisors; together they will look out for your best interest. • If they could have, why didn’t they? Never hesitate to ask yourself and your advisors this question: If your advisors could have helped you achieve your goals sooner, why didn’t they? If your advisors knew about these options, why didn’t they present them to you before?

• Mathematical analysis: Seek advisors whose mathematical analysis makes sense. Ask questions centered around your personal goals and ask how a proposal, strategy or recommended action would mathematically affect your macro and micro needs. Make certain your advisors support their recommendations for or against a proposal with all of the facts and the math. • Get a second opinion: Always get a second opinion on anything important, expensive, dangerous or painful. But beware of any advisor who uses the “Not Invented Here” stamp - who simply dismisses a proposal with, “Oh, that won’t work for you.” Ask, “why not?,” and keep asking until you are satisfied with the answers. Request an analysis demonstrating why the new proposal won’t work for you. • Relationships: Choose advisors who produce results and solutions, not those who use their relationships with you as the primary reason why you should do business with them. Don’t let them tug on your heartstrings or push your fear buttons. • Don’t be a guinea pig: Important decisions or actions should always be addressed by the very best specialists available. Make sure your advisors are experts. Don’t pay for a lot of research time. You don’t want to be a test case for your advisors with the IRS. As a group, guinea pigs are not known for their high quality of life. • Think global: In many of life’s important or complicated matters, we may have to

 Bruce R. Wright

look far and wide to obtain the necessary expertise to serve our interests. The world is full of people who are “conveniently located,” but who lack the requisite skill and/or creativity to solve our problems. Convenience and success are often mutually exclusive concepts in the real world. • Only you can decide if you want the best. You decide the level of talent and cooperation on your team. One weak or egotistical player may cause you to lose more than you can ever recover. Experts who perform at the highest level are available, if you look for them. Look for a talented, dedicated, honest, client-centered, creative team of specialists who will empower you to achieve your goals. Bruce R. Wright is a writer, trainer and consultant with a focus on financial services, but does not sell or provide investment, money management, insurance, annuities or any related products. He is the author of “The Wright Exit Strategy: Wealth, How to Create It, Keep It, and Use It,” from which this is excerpted. He spoke in Santa Clarita at VIA’s June luncheon. 

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SANTA CLARITA VALLEY BUSINESS JOURNAL

THE LIST Rank

Largest Law Firms

Firm

Poole & Shaffery, LLP

ReapeRickett Law Firm

Owen Patterson and Owen

2017 # Attorneys

JULY 2017

(Ranked by # of Attorneys)

2017 Full-Time Area of Practice support staff

Business Litigation; Business Transactions; Employment Counseling; Employment Litigation; Trust Administration; Probate and Estate Planning; Mergers & Acquisitions; Securities; Real Estate Disputes; Mediation; Land Use and Government Affairs; Intellectual Property

Family, Divorce

Compensation

Retainer Hourly

Hourly

Contingency

Year Est.

Top Local Executive

Contact Info

1998

John Shaffery Managing Partner

25350 Magic Mountain Pkwy. 2nd Floor, Santa Clarita, 91355 661-290-2991 www.pooleshaffery.com

1992

James Reape Senior Managing Partner

25152 Springfield Ct., Suite 100, Valencia, 91355 661-288-1000 www.divorcedigest.com

1977

Richard A. Patterson, Esq./ Greg Owen, Esq./ Susan Owen, Esq.

23822 W. Valencia Blvd. #20, Valencia, Ca 91355 661-799-3899 www.opolaw.com opolawrap@yahoo.com

25152 Springfield Ct. #345, Valencia, 91355 661-259-9000 www.donahoeyoung.com

Personal Injury

Depends

1999

Mark Young Attorney

Donahoe & Young, LLP

Business, commercial, real estate and corporate transactions Litigation in state and federal courts, Bankruptcy and bankruptcy-related litigation Landlord/Tenant disputes, Trusts, wills, and probate matters professional and premises liability defense.

Law offices of C. Ray Carlson

Personal Injury, Litigation

Contingency

1984

Ray Carlson

27951 Smyth Drive, Suite 101, Valencia 91355 661-294-0044 www.craycarlson.com

The Bridgeford Law Office

Certified specialist workers compensation

Contingency

1999

Mark Bridgeford

25060 Avenue Stanford, # 160, Valencia, 91355 661-775-9300 www. bridgefordlaw.com

Diamond & Associates

Criminal defense, personal injury, restraining orders, law enforcement

2001

Mr. David Diamond

28005 Smyth Dr. #190, Valencia, 91355 661-295-4646 www.losangeles-criminalattorney.com

The Law Offices of Wax and Wax

Workers comp, Social Security

Depends

Gordon Lee Office Manager

27201 Tourney Rd. #200B, Valencia, 91355 661-255-9585 www.waxlawfirm.com

Varies

1975

L Rob Werner

27257 1/2 Camp Plenty Rd., Canyon Country, 91351 661-735-4986 www.wernerlawca.com

Hourly

1996

Mr. Carl Kanowsky Senior Partner

26481 Summit Cir., Santa Clarita 91350 661-290-2656 www.kanowskylaw.com

Jane McNamara Attorney

28212 Kelly Johnson Pkwy. #110, Valencia, 91355 661-287-3260 www.janemcnamara.com

April Oliver & Paulette Gharibian

25350 Magic Mountain Pkwy. #240, Valencia, 91355 661-254-4100 www.gocallaw.com

Retainer or hourly

The Werner Law Firm

Wills, Trusts and Probate, Civil and Personal Injury Litigation, Contracts and Negotiations, Bankruptcy, Business and Corporate, Landlord/Tenant

Kanowsky and Associates

Business, real estate

T11

McNamara Law Firm

Elder law, estate planning life care planning

Retainer or hourly

T11

Gharibian & Oliver Attorneys

Family

Retainer or hourly

2010

SANTA CLARITA VALLEY BUSINESS JOURNAL 19

JULY 2017

Book excerpt: Five practices of exemplary business leaders By James M. Kouzes and Barry Z. Posner

crucible for greatness. Every single personal-best leadership case involved a change from the status quo. Not one person claimed to have achieved a personal best by keeping things the same. Leaders venture out. None of the individuals in the study sat idly waiting for fate to smile upon them. Leaders are pioneers. They are willing to step out into the unknown. They search for opportunities to innovate, grow, and improve. Exemplary leaders also know that innovation and change involve experimenting and taking risks. One way of dealing with the potential risks and failures of experimentation is to approach change through

incremental steps and small wins. Life is the leader's laboratory, and exemplary leaders use it to conduct as many experiments as possible. Try, fail, learn. Try, fail, learn. Try, fail, learn. That’s the leader’s mantra.

o the practices that made a leader exemplary in the pre-Internet, pre-globalization 1980s produce the same effect in 2017? The answer, Enable others to act. Grand dreams don't become sigaccording to our research of the foundations of exemnificant realities through the actions of a single person. plary leadership for more than three decades — is a Achieving greatness requires a team effort. It requires resounding yes. solid trust and strong relationships. It requires group Leaders at their personal best share five core praccollaboration and individual accountability. tices: They model the way, inspire a shared vision, chal Leaders foster collaboration and build trust. The more lenge the process, enable others to act, and encourage people trust their leaders, and each other, the more the heart. Together, these comprise the five practices of exemplary leadership model. Leaders who more freSee PRACTICES, page 28 quently demonstrate these practices create higher performing workplaces and have significantly more engaged employees than leaders who demonstrate the practices less frequently. Researchers examined the financial performance of organizations over a five-year period and compared those in which constituents rated senior leaders as actively using the five practices with organizations whose leaders were significantly less engaged in using them. The bottom line: Net income growth was ONE-STOP RESOURCE CENTER nearly eighteen times higher, and stock price growth was nearly three times The Santa Clarita Valley Economic Development Corporation is your greater, for those publicly traded organizations whose leaders strongly engaged single point of contact for all your business needs. From access to tax in The Five Practices than their counterincentives to workforce training at low or no cost, from expediting parts who weakly engaged in them. Here is a quick overview of the business issues resolution to managing local business coalitions, five practices:

BUSINESS ASSISTANCE

Your Santa Clarita Valley Business Advantage

Model the way. Titles are granted, but it’s your behavior that wins you respect. Exemplary leaders know that if they want to gain commitment and achieve the highest standards, they must be models of the behavior they expect of others. To effectively model the behavior they expect of others, leaders must first be clear about guiding principles. They must clarify values. Leaders must find their own voice, and then they must clearly and distinctively give voice to their values. Eloquent speeches about common values, however, aren’t nearly enough. Leaders’ deeds are far more important than their words when it comes to determining how serious they are. Words and deeds must be consistent. Exemplary leaders set the example through daily actions that demonstrate they are deeply committed to their beliefs. Inspire a shared vision. People talked about their personal-best leadership experiences as times when they imagined an exciting, highly attractive future for their organization. They had visions and dreams of what could be. They had absolute and total personal belief in those dreams, and they were confident in their abilities to make extraordinary things happen. Every organization, every social movement, begins with a dream. The dream or vision is the force that invents the future. To enlist in a shared vision, people must believe that leaders understand their needs and have their interests at heart. Leaders breathe life into the hopes, dreams, and aspirations of others and enable them to see the exciting possibilities that the future holds. Leaders forge a unity of purpose by showing constituents how the dream is for the common good. Challenge the process. Challenge is the

SCVEDC connects your company to the right resources, and provides the solutions to keep your business thriving.

80% of job growth comes from the expansion of existing businesses. We’re here to help you grow! Our first visit to SCVEDC was the real reason we moved here. They are always looking after our best interest.

SCVEDC’s assistance with expediting the development process enabled us to hit our very aggressive construction schedule.

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- Matthew Shepherd, Scorpion

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SANTA CLARITA VALLEY BUSINESS JOURNAL

JULY 2017

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SANTA CLARITA VALLEY BUSINESS JOURNAL 21

JULY 2017

THE LIST

Lawyers â&#x20AC;&#x201C; Solo Practictioners (Listed by Area of Practice)

Primary Practice

Name

Contact

Bankruptcy

Law Office of Hale A. Antico

27578 Sierra Hwy., Santa Clarita, 91351, 661-252-9900 scvbankruptcy.com

Business

Peter R. diDonato, diDonato Law Center

23929 West Valencia Blvd. #411, Valencia, 91355, 661-255-7500 peter@didonato-law-center.com

Business

Hacker Law Group

26650 The Old Rd. # 201, Valencia, 91381, 661-259-6800

Business

Law Office of G. Marshall Hann

25350 Magic Mountain Pkwy. #130, Valencia, 91355 661-255-3600 gmarlaw.com

Business

Law Office of Richard L. Weiner

27240 Turnberry Ln. #200, Valencia, 91355, 661-362-0860 richardlweinerlaw.com

Business

Law Offices of Henry Knebel

28042 Ave. Stanford Unit E, Valencia, 91355 661-799-3600 www.knebelaw.com

Business

Law Offices of Louis J. Esbin

25129 The Old Rd. #114, Stevenson Ranch, 91381, 661-254-5050 www.esbinlaw.com

Business and Real Estate

Daniel Gunning, Attorney at Law

28470 Avenue Stanford, Suite 360, Valencia 91355 661-287-4120 dgunning@earthlink.net www.gunninglawfirm.com

Criminal Defense

Bradley R. Tyer & Associates

27240 Turnberry Ln. #200, Valencia, 91355, 661-295-1600 www.brtlaw.com

Criminal Defense

Law Office of Gary Symonds

25835 Railroad Ave., Santa Clarita, 91350 661-253-3700

Criminal Defense

Law Office of Jeffrey D. Armendariz

28470 Avenue Stanford, #360, Valencia, 91355, 661-312-5380

Debt Collection

Law Office of Michael N. Berke

25001 The Old Rd., Santa Clarita, 91381, 661-259-1800 michael.berke@berkeslaw.com berkeslaw.com

Dispute Resolution

Bruce B. Neft

23418 Darcy Ln., Newhall, 91321 255-6665 bneft@roadrunner.com

Divorce Mediation Services of Santa Clarita

Law Offices of Rand E. Pinsky

28005 Smyth Dr. #102, Valencia 91355 661-295-4644 www.randpinsky.com

Divorce

Martinelli Law Group

28422 Constellation Rd., Valencia, 91355, 888-809-4713 www.martinelli-lawgroup.com

Estate Planning

Angeles Law Center

23542 Lyons Ave. #200A, Newhall, 91321 661-255-1001 www.angeleslawcenter.com

Estate Planning

Julia C. McBride, Attorney at Law, P.C.

27720 Dickason Dr. #214, Valencia, 91355 661-259-7930 www.jcmcbridelaw.com

Estate Planning

Law Offices of Randall D. Armour

25129 The Old Rd. #104, Stevenson Ranch 91381, 661-259-0003 www.armourlaw.com

Family Law

David S. Delnero, A Professional Law Corporation

28494 Westinghouse Pl. #303, Valencia, 91355, 661-702-9200

Family Law

Law Offices of Steven B. Chroman

28494 Westinghouse Place, Suite 115, Valencia, 91355, 661-255-1800 www.chromanlaw.com

Family Law

The Law Offices of Philip A. Wasserman

General

Gina G. MacDonald, Attorney at Law

Immigration

World Esquire Law Firm, LLP

25050 Ave. Kearny #111, Valencia, 91355 661-294-0911 www.worldesquire.com

Lemon Law, Personal Injury

Law Office of Barry Edzant

28470 Avenue Stanford, Suite 360, Valencia, 91355, 661-222-9929 www.valencialaw.com

Misc.

Law Office of John S. MacIntosh

25350 Magic Mountain Pkwy. Santa Clarita, 91355 661-255-7027

Misc.

Law Offices of Michael D. Finley

28212 Kelly Johnson Pkwy. #195, Valencia, 91355, 661-964-0444, 661-9640445, www.artisticlawyer.com, michaelfinleylaw@gmail.com

Misc.

William R. Lively & Associates

23300 Cinema Drive, #2910, Valencia, 91355, 661-287-3600 www.livelylegal.com

Patents

Hoffman Patent group

28494 Westinghouse Pl. #204, Valencia 661-775-0300 www.dlhpatent.com

Personal Injury

Law Office of Robert J. Kaiser

23550 Lyons Ave. #203, Santa Clarita, 91321, 661-253-3293 robertjkaiser.com

Personal Injury

Law Office of Robert M. Mansour

28212 Kelly Johnson Pkwy. #110, Santa Clarita, 91355, 661-414-7100 mansourlaw.com valencialawyer.com

Tax and General

Law Office of David Barlavi

25060 Ave. Stanford #235, Valencia, 91355, 661-775-0237, www.taxlyr.com

Workers Comp, Social Security, accidents

Law Office of Emil Larry Henen

23504 Cinema Dr. #A, Valencia, 91355, 661-254-7064 henencompensation.com

Workers Comp, Social Security, Disability & Personal Injury

The Law Office of Ronald J. Nolan

27821 Fremont Court, Unit 7, Valencia, 91355, 661-964-0441 www.ronnolan.com www.workcomplaw1@me.com

28005 N. Smyth Dr. #126, Valencia 91355, 661-294-8484 www.santaclaritafamilylaw.com 25115 Ave. Stanford #A-209, Valencia, 91355, 661-294-6464 ginamacdonald.com, gina@ginamacdonald.com

SANTA CLARITA VALLEY BUSINESS JOURNAL

JULY 2017

HUDSON

cooks and engineering people and everybody else.

Continued from page 5

As a result, when I sit down to do budgets or people come in and ask me something, I know enough to ask the right questions. I often think that’s missing in the profession, because the job’s not the numbers. The numbers are the end result. I jokingly say I’m a bean counter but I don’t count beans. I hire people to count beans. I’m much more of an operations person. I always felt that what I could bring to the table is a perspective of focus and make sure we kept on track. Make sure that people got what they needed, not necessarily what they wanted.

an active staff, but it will be addressed over time. We’ve got some excellent physicians who are part of some great independent medical groups. So we’ve got a good medical staff. It’s taken a long time but I think they finally are believing that we really do want to work with them and move the hospital forward. SCVBJ: What are the factors that will decide how long this hospital remains independent? Hudson: I’m not the decision maker or the expert on that. This is my opinion and please understand it is just that. A hospital needs to find a partner when it can no longer do a few things: serve the needs of the community, obtain capital to continue growth, continue to recruit staff and physicians, and add services to become what the community wants and needs. As we sit here today, we can meet all of those requirements. We have no trouble recruiting staff. Certainly we’re financially viable. We’re a great community that’s growing and we are the only hospital in the community, and I don’t think that’s going to change. We’re at the end of a 15-year master plan and it was agonizing to get to where we are. I can’t imagine how long it would take somebody coming in from the outside to start a second hospital, if they can find the land, which really doesn’t exist, and if they had the money. When we were doing our master plan, and the numbers have probably gone up since then, hospitals cost two million dollars a bed. And the smallest you can build today is a 100-bed hospital. That’s $200 million. Then it’s going to be 10 plus years before you see your first paycheck. By anybody’s definition, that’s a barrier to entry. So I don’t see another hospital coming into the valley in the foreseeable future, as long as we can grow and expand and add programs and improve our care.

■ The outgoing chief financial officer of Henry Mayo Newhall Hospital Bob Hudson talks with SCVBJ Editor Patrick Mullen during an interview on June 1, 2017. Katharine Lotze/The Signal

SCVBJ: What are some of your strongest memories of your time here? Hudson: Well you know, this hospital saved my life at least twice already. I was at work 14 years ago or so and full of stress as you can imagine, and I ruptured my colon. If I had been out on a boat sailing or in the mountains camping or hiking, I probably wouldn’t have had the outcome I had. Then in December of 2015, I had a mild heart attack. It was also just stress. Cholesterol’s good, my blood pressure’s under control, all that kind of stuff. Just stress, which is why I’m retiring. My body just won’t take it anymore. SCVBJ: It’s safe to say you’re leaving things better than you found them. Hudson: Yes. We’ve got a nice investment portfolio and a strong bond rating. We’ve got nice financials. And as I say, I can look out my window and see the tower under construction. SCVBJ: So for someone going into healthcare management these days, any words of advice?

Hudson: One issue today is so many young people get into careers before they really know what it’s about. I didn’t go to college straight out of high school. I believe nobody should. I think they should all spend a couple of years doing something. It could be the Peace Corps or some sort of volunteer work. I served in the Merchant Marines. And once you get in a career – and so let’s say you decide you want to be a health care finance person like I did. In this case now you’re a finance guy. You’ve got you know debits and credits, you’ve got the books to balance and checks to write. Remember that sitting in this office does not teach you one thing about what goes on out there on the front lines of delivery. Before I came here years I worked in different aspects of the industry whether it be acute, skilled nursing, psych care, I always put myself put myself in position to learn different things. I spent time in the operating rooms and at the emergency room. I actually registered patients. I spent time working with radiologists and radiology techs and observing people in the laboratory and with housekeepers and dietitians and

Always keep in mind what we’re here for. It’s not to make a bottom line or to increase my salary or build my ego. It’s to make sure that everybody who walks into this hospital gets the best possible care they can. I’ve received it, and I know many other people who have. Now does that mean we’re perfect? Of course not. Nobody is. The people who work in this hospital are people. But not one of them to my knowledge ever woke up in the morning and said, I’m going to go hurt somebody today. SCVBJ: Any closing thoughts? Hudson: I want to say thank you to this community, to the people who live here, to those who have been involved in our board of directors and our foundation board. I’m grateful to those who donated and contributed their time and their wealth, to the management that has allowed me to work here – to Roger Seaver, the president and CEO, and to all of the absolutely unbelievably fantastic staff that works at this hospital. It’s been a true pleasure and an honor to be able to work in this community at this hospital with these people to make it to where we are, and where it’s going to go. I will leave with my head held high. SCVBJ: Thank you. 

SCV BUSINESS VOICES

Recent Changes to SCV’s Foreign Trade Zone By Holly Schroeder President & CEO, SCVEDC Did you know there is a Foreign Trade Zone right here in the Santa Clarita Valley (SCV)? Serving qualified sites within the valley, this extension of the U.S. ForeignTrade Zone (FTZ) program offers international traders and importers and exporters outstanding opportunities to take advantage of special customs privileges. These incentives can lower barriers to trade, improve cash flow and enhance your company's profits while giving you a competitive edge in the global marketplace. Earlier this year, the service area of the FTZ was expanded to include the entire Santa Clarita Valley in a program called the Alternative Site Framework or ASF. That means that the process for companies to set up a Foreign Trade Zone at their own facility is expedited – usually in less than 90 days. Participating in the FTZ can provide cost-savings and other benefits to local companies including duty deferral on goods, port fees reduction, duty elimination on products and speed to market. Some potential candidates include: • High volume importers

• High valuation of taxes, duties, or extra tariffs • Heavy exporters of foreign goods • Manipulation or manufacturing businesses that are importing partially finished or raw materials • Importers that hold inventory (slow turns) • Obsolescence and destruction Here is just one example of how a local company used the FTZ to save tens of thousands of dollars. In 2016, an SCV company that makes high quality gloves for all types of weather, professions and sports imported a 40-foot container full of product to the USA from Indonesia. While en route, they discovered that over 50% of the merchandise was defective. Typically, once the container berths at port, it must go through a customs clearance and is charged the appropriate tax and duties based on the value of the merchandise. However, in this case, the company wished to avoid the upfront taxes, especially since over 50% was defective. The company utilized the FTZ operated by AMS Fulfillment in the Santa Clarita Valley. While the merchandise resided in the FTZ, taxes and duties were deferred while the product was sorted to separate the defective goods. The defective goods remained in foreign status

as they were transported, in bond and with proper customs documentation, to a destruction facility. Once destroyed, the liability for the taxes was lifted and the company needed to only pay tax on the goods that were acceptable. In this case utilizing the FTZ saved the company thousands of dollars in taxes on defective goods they could not use. The expansion of the existing Foreign Trade Zone in the Santa Clarita Valley is exciting news for local companies who import and export goods. Do you think your company might be a good candidate? If you have questions about whether your company can benefit from the FTZ or any other incentive program please contact the Business Assistance Team at SCVEDC. (661) 288-4400. The Santa Clarita Valley Economic Development Corporation (SCVEDC) is a unique private / public partnership representing the united effort of regional industry and government leaders. The SCVEDC utilizes an integrated approach to attracting, retaining, and expanding a diversity of businesses in the Santa Clarita Valley, especially those in key industry clusters, by offering competitive business services and other resources.

SANTA CLARITA VALLEY BUSINESS JOURNAL 23

JULY 2017

Appointments

Audrey Asplund

Jennifer Castaldo, RN

Dimitri Chamblas

Robert Fisher

Appointed: Principal, Rio Norte Junior High School, Santa Clarita Formerly: Assistant principal, West Ranch High School

Appointed: Vice president of patient care services, chief nursing officer, Henry Mayo Newhall Hospital Formerly: Associate chief nurse executive, director of maternal child health services, Huntington Memorial Hospital, Pasadena

Appointed: Dean, Sharon Disney Lund School of Dance, CalArts Formerly: Artistic director, 3rd Scene, Paris Opera

Appointed: Assistant principal, Canyon High School Formerly: Teacher and coach, Golden Valley High School

Kristin Hinze

David Miles

Paula Saavedra

Jim Sapienza

Appointed: Assistant principal, West Ranch High School. Formerly: Administrative intern and coach, Canyon High School

Appointed: Assistant principal, Rio Norte Junior High School Formerly: Vice principal, College Park High School, Pleasant Hill

Appointed: Assistant principal, La Mesa Junior High School Formerly: Middle school vice principal

Appointed: Assistant vice president, clinical ancillary services, Henry Mayo Newhall Hospital Formerly: Chief administrative officer, West Valley Hospital, Dallas, Oregon

Submit Hirings, Appointments and Promotions to pmullen@signalscv.com with “SCVBJ Appointments” in the Subject line.

Proudly serving as broker and trusted advisors for the City of Santa Clarita

KNOWLEDGE Continued from page 13 established business leaders like both of you. How do you bring new emerging business people together with people who have been in the working world for a while? Hedman: Some of those older experienced people may not be the best ones to help with the tech stuff. It’s a matter of getting a nucleus here and working together to grow it. Eichman: Silicon Beach is growing. Tech companies are putting their money there. I don’t see them coming here, at least the big ones. I don’t know if we can do it here unless we offer huge credits that would make them come here and add or expand a building. Hedman: We can attract the workforce, because now they have families. Where we have a hard time is housing. Also, a lot of businesses here are owned by baby boomers, so we’re going to see a generational transition, whether to younger generations, to another family, or to outside buyers. But when an outside company buys a local company, they’re not tied here. Eichman: As people move, we lose some of those roots. Baby boomers are going to retire and they’re not going to retire here. It’s too expensive for seniors on limited income to live here if they want to have

■ Calvin Hedman of Hedman Partners, a certified public accountant, has been a resident of the Santa Clarita Valley for 40 years. Katharine Lotze/The Signal

a nice home. So they leave. A lot of their kids don’t want anything to do with the family business, so then we have new people who don’t have roots here. SCVBJ: Do you have any other advice for local businesspeople?

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Eichman: People always need to stay ahead of their competitors and always be doing research. To stay afloat, always look at what’s next and keep your technology up to speed. Hedman: A lot of times people start a business without setting up the right structure for what they’re trying to do. The other big issue that they normally run into is cash flow, especially when they’re growing fast. Get the support in line before you grow. SCVBJ: Thank you both. 

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SANTA CLARITA VALLEY BUSINESS JOURNAL

JULY 2017

SCV BUSINESS VOICES

Why Healthcare Organizations Should Encrypt Everything By James Deck CEO, Med Tech Solutions Unfortunately, most healthcare organizations are ill-prepared to deal with or defend against a cyberattack. A 2016 Healthcare Information and Management Systems Society (HIMMS) study found that most healthcare organizations fail to adopt even basic safeguards like anti-malware tools, firewalls and encryption. Of all industries, healthcare has the lowest rate of data encryption: only 31 percent of healthcare organizations report extensive use of encryption; 20 percent report no use of encryption at all. The healthcare sector’s general lax approach to security defense and preparation is one reason it has become the number one target of hackers. Ransomware has become hackers’ weapon of choice. This malicious brand of malware exploits vulnerabilities in an organization’s computer system and encrypts data so it can only be unlocked with a decryption key. One way to minimize the resulting damage of a cyberattack is to always encrypt patient data. Data encryption prevents data visibility in the event of its unauthorized

access or theft. Confidentiality is maintained when the file is encrypted in such a way that only authorized users have access to the key. It’s imperative, then, to beat cyber criminals to the punch: encrypt any data that they may potentially try to steal. Data can be encrypted by employing either of two methods of encryption: in transit, and at rest. Data in transit refers to data being accessed over a network – and which, therefore, could be intercepted by someone else on the network, or by someone with access to the physical media the network uses. Encryption at rest refers to encrypting inactive data stored physically in any digital form. Physical data could be stored on a wide variety of media, including: end-user devices, including smartphones and tablets, laptops; portable storage devices like CDs, DVDs, and USB storage (flash drives or thumb drives); files, clipboards, and folders; hard disk; virtual disks and compressed archives; mobile email, files, and text; and third-party Cloud services. Busy physicians and others in healthcare have many opportunities today to work remotely on a variety of mobile devices as they travel between their

offices and hospitals. A simple username and password to log on to these devices offers zero protection when a thief can simply remove the hard drive, install it on another computer, and copy the data. Encrypting data on laptops and other devices is essential to protect information from unauthorized access should the media ever be stolen. As malware continues to get more sophisticated, intransit encryption (the more prevalent method) may be insufficient to ward against possible hacking. At Med Tech Solutions, it’s become a best practice to provide encryption at rest as a standard feature with all of our clients’ service plans. It’s not that much more expensive than in-transit encryption to implement and it’s certainly far less costly when you factor in what it will cost to deal with the disastrous aftermath of a data breach. James Deck is the Chief Executive Officer of Med Tech Solutions and an innovator in the information technology field for nearly two decades specializing in Managed Services, Cloud Solutions, and mobile and web application development. James can be reached at jdeck@medtechsolutions.com or (626) 486-9330.

SCV BUSINESS VOICES

Identity Theft Today (Part Two in a Two-part Series)

By Marianne Cederlind

Executive Vice President and Chief Business Banking Officer, Mission Valley Bank (This is the second of a two-part series.) As cyber criminals get craftier, individuals need to arm themselves with facts on identity theft and take the necessary precautions to protect themselves. Mobile phones and social media are the new frontier Fraudsters are expected to introduce as many as 1,000 different phone/social media scams this year, according to one expert. In fact, a social media identity may be more valuable to cyber criminals than credit cards since it offers them the opportunity to manipulate friends. Safety tip: Keep smart phone operating systems upto-date. Use passwords to gain access to your phone and install apps that enable remote deletion of phone data if it is lost or stolen. Tax return fraud costing billions Identity thieves file fake returns using stolen social

security numbers and claim refunds worth billions. These taxpayer-victims only learn of the fraud when the Internal Revenue Service rejects their own return because someone already received the money using their identity. This type of fraud has doubled in the last year – now at $24 billion – and cases can take up to a year to clear up. Safety tip: File your tax return early. Don’t answer any emails allegedly from the IRS since they will never contact you via email. ID theft prevention Experts say that while financial institutions are continually improving security – through layered security, multi-factor authentication and other measures – many consumers are still not changing bad habits that leave them at extreme risk. Without personal diligence, cyber criminals will find new, innovative ways to steal consumers’ hard-earned money. Safety tip: Upgrade your electronic security, and make sure computers and phones are locked and password protected when not in use. Do not share personal information

unless you know the other party, and monitor your accounts regularly. Help and Information Several government resources are available to assist. -- Internet Crime Complaint Center: www.ic3.gov -- Consumer Fraud (Department of Justice Homepage): www.usdoj.gov -- Federal Trade Commission (FTO Consumer Response Center): www.ftc.gov -- Consumer Guides and Protection: www.usa.gov -- Financial Fraud Enforcement Task Force: www. stopfraud.gov -- On Guard Online: www.onguardonline.gov Mission Valley Bank is a locally-owned, full service, independent community business bank headquartered in Sun Valley, California with a business banking office in Santa Clarita. Marianne Cederlind was named “Most Trusted Advisor -- Business Banking” in 2012 and can be reached at (818) 394-2300. For more information visit www.MissionValleyBank.com.

SCV BUSINESS VOICES

2017 Acura MDX Sport Hybrid Exceeds Expectations By Cheri Fleming Valencia Acura What does the family-friendly Acura MDX, affordable luxury RLX and supercar NSX have in common? They each have high performing hybrid technology available that, simply stated, delivers Acura’s signature precision crafted performance. More than related, the hybrid technology across models is almost identical and is Acura’s own system and no one has anything quite like it, Acura’s product planning manager Gary Robinson recently stated. The 2017 Acura MDX Sport Hybrid lives up to its potential, according to Car and Driver. The magazine attributes this to years of intense development behind Acura’s key hybrid components. In fact, the technology that makes the NSX so fierce provides for a sharper driving experience and more miles per gallon for the MDX seven-passenger family wagon. Compared with the NSX and the RLX, there was a greater effort to make the hybrid technologies invisible

in the MDX, according to Robinson. The priorities were strong acceleration and balanced performance. The MDX is available in both hybrid and traditional models and, overall, is Acura’s best-selling vehicle. “The nonhybrid MDX SH-AWD is a tough act to follow; it’s among the best-handling three-row crossovers, with quick, well-weighted steering and well-controlled body motions,” the magazine elaborated. “Both MDX models feature an all-wheel-drive system—optional in the regular one, standard in the hybrid—that sends more torque to the outside rear wheel during hard cornering, but the Sport Hybrid goes a step further with the ability to apply resistance (and recover energy) at one rear wheel while it’s delivering forward momentum to the other.” Beyond the technical specifications, Acura’s MDX has been recognized for its safety and desirability. Edmunds.com named the MDX as the “Most Wanted Luxury Midsize SUV” for 2017. After analyzing a combination of market factors, Edmunds determined the 2017 Acura MDX earned

the top spot in the luxury midsize SUV segment. The 2017 Acura MDX also earned Top Safety Pick+, the highest designation from the Insurance Institute for Highway Safety (IIHS), for its fourth consecutive year. Annually the IIHS tests and evaluates two aspects of safety: crashworthiness (how well a vehicle protects its occupants in a crash), and crash avoidance and mitigation (technology that can prevent a crash or lessen its severity). I invite you to stop by Valencia Acura and test drive the new MDX Sport Hybrid and see why we’re so excited about its recent launch. Celebrating 20 years serving the community, Valencia Acura is a local, family-owned car dealership located at 23955 Creekside Road in Valencia. Valencia Acura has been recognized as a prestigious Acura Precision Team Dealership for 11 years, awarded Acura’s Council of Excellence for 13 years, and voted Santa Clarita’s Best New Car Dealership for 13 years by the Signal newspaper. Owners Don and Cheri Fleming can be reached at (661) 255-3000. Visit www.ValenciaAcura.com.

SANTA CLARITA VALLEY BUSINESS JOURNAL 25

JULY 2017

Economic Development Corporation Santa Clarita Valley

Content provided by

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

SCV Voices

Scott Capistrano

Calvin Hedman

Having lived in the SCV since 1972, I've had the pleasure of seeing it develop and grow. Thus, I'm very excited to see our valley begin to create a fertile ground for new initiatives such as tech innovation, entrepreneurial growth, new methods of co-working, and more.

Jeremy Stephan

Todd Stevens

President Hedman Partners

Owner Resurgence IT

President & CEO California Resources Corporation

The SCV is a great place to live and work. As a resident for 40 years, I have found it to be a wonderful community to raise a family with its highly recognized schools, sports opportunities, supportive churches and charities, and its “safest city” first responders. As a local business owner for over 25 years, it’s the optimistic and cooperative attitude of the people (co-workers, private businesses, and public workers) that makes the SCV a desired and enjoyable business community where making new friends is a daily occurrence.

I value working and living in Santa Clarita because it provides me the unique opportunity to enjoy business relationships on a more personal level. I often run into clients, many have become friends, at business events or around town. The high level of local involvement and community spirit is a big part of the success of Santa Clarita.

Santa Clarita is a great place. It is committed to being the community that works for all of its residents; from the youngest to the elderly. It is the perfect place to raise a family, live and work.

President Status Not Quo

America’s Job Center of California - a great resource for local companies and job seekers

CVEDC knows that finding skilled workers is one of the toughest challenges facing businesses in today’s tight labor market. That’s why training and apprenticeship programs are so important. Companies are growing their own talent, but are tapping into resources such as community colleges and the workforce development boards that are part of the public workforce system. In the past year, new apprenticeship programs for the aerospace and logistics industries

are helping employees advance their skills quickly. Did you know that there is a FREE resource to help your business find the employees that it needs? The America’s Job Center of California (AJCC) will continue to be operated by College of the Canyons (COC), which is great news for SCV employers. The Santa

Clarita AJCC provides comprehensive services to both job seekers looking to find sustainable employment and employers seeking qualified candidates for their current or upcoming openings with the goal of increasing the prosperity of workers and employers in the United States. Employers are matched with the skilled workers they need to compete in the

global economy. Job Seekers can access employment, education, training, and support services to succeed in the labor market. Because the AJCC is operated by COC, employers and job seekers can also access workforce development and training programs that they need, and these programs remain relevant to the needs of today’s employers. For more information call (661) 799-WORK or send them an email (EconDevInfo@ santa-clarita.com).

Econo Watch Santa Clarita Valley

Q1 ’17

Q4 ’16

Q1 ’17 Sq Ft

Commercial Vacancy Rates Office Space

10.40%

10.70%

493,603

Industrial Space

2.30%

2.00%

452,661

Retail Space

4.70%

4.90%

601,545

Total Marked Sq. Ft. Vacancy Percentage Office Space - as a % of Vacancy

31.89%

34.02%

N/A

Industrial Space - as a % of Vacancy

29.25%

24.93%

N/A

Retail Space - as a % of Vacancy

38.86%

41.05%

N/A

May‘17

Apr ‘17

May ’16

Commercial/Industrial Building Permits

Residential Building Permits

Building Permits

Local Company Stock Prices Bank of Santa Clarita (BSCA) Mannkind (MNKD) California Resources Corp California United Bank Carnival Corp. (CCL) Mission Valley Bank (MVLY) Six Flags (SIX) Woodward (WWD) Lennar (LEN)

May ‘17 15.5 1.52 10.89 36 64.07 12.75 60.38 68.12 51.31

Apr ’17 14.05 0.87 11.7 37.28 61.77 11.5 62.61 67.67 50.5

% Change 10.32% 74.71% -6.92% -3.43% 3.72% 10.87% -3.56% 0.66% 1.60%

Unemployment Rates Santa Clarita Palmdale Lancaster Glendale LA County California

May ‘17 Apr ‘17 % Change 3.7% 3.8% -2.63% 5.5% 5.6% -1.79% 4.5% 4.6% -2.17% 3.9% 4.0% -2.50% 4.0% 4.1% -2.44% 4.7% 4.8% -2.08% Source: Santa Clarita Valley Economic Development Corporation

SANTA CLARITA VALLEY BUSINESS JOURNAL

JULY 2017

VIA, Bruce Wright Show Execs the Elephant in the Room Business Advisor’s Luncheon Presentation Helps Leaders Plan for the Future

our future is closer than you think, and there’s no time like the present to recognize the elephant in the room: You need an economic ecosystem in place to not only ensure your current success, but also to protect your future. That’s the message business advisor Bruce Wright delivered to executives and business owners at the Valley Industry Association’s special luncheon presentation on June 20 at the Valencia Country Club. Wright is the founder of Macro Strategic Design Inc. and the author of titles including, “Seeing the Elephant: Advanced Macro Wealth Management.” In summing up his approach to economic ecosystem planning, he encouraged those in attendance to “see the elephant” in their wealth management strategy, and to be open to new ideas and ways of thinking. “Status quo thinking, business models and behaviors do not magically lead to new and better outcomes,” Wright says. “Wise people know that transcendent results are

always preceded by new ideas and the courage to tenaciously put them into action.” The key elements of Wright’s presentation included a call for business leaders to focus on their “big picture” without losing sight of the most important details, and to strive to achieve tangible, measurable results. VIA CEO/President Kathy Norris said Wright was an excellent choice for VIA’s series of luncheons that are intended to provide business owners and executives with valuable information that they can directly apply to improve their businesses and their own futures. “Mr. Wright brought a tremendous energy to the event,” Norris said. “Our goal at VIA is to offer programs and presentations that provide real value to our members and guests so they can continue to grow, lead, and plan for the future. Thanks to Bruce Wright, our June event succeeded in accomplishing this goal — and then some.”

Meyer Named 2018 VIA Chairwoman T

■ Diana Meyer

VIA Luncheon Planning Calendar 2017 SPEAKER SERIES Luncheons begin at 11:45 a.m. at the Valencia Country Club, 27330 North Tourney Road in Valencia unless otherwise noted. Business professionals interested in attending should plan to reserve their seat well in advance. Reservations and payment can be made at www.VIA.org/ Calendar or by contacting the VIA office at (661) 294-8088.

Tuesday, July 18, 2017 To be announced

WELCOME NEW VIA MEMBERS

VIA is growing and we’re proud to add these new members to our organization. Welcome to Santa Clarita’s premier business and industry connection! Hershenson Consulting Rob Hershenson 23890 Copper Hill Drive Valencia, CA 91354 (818) 406-4960 rob@hershensonconsulting.com

he Valley Industry Association announced Logix Federal Credit Union’s Vice President of Payments Diana Meyer will take the helm as chairwoman of the business organization for 2018. She was recently appointed to the position as Vice Chair of Education. Current VIA Chairman Ed Masterson, with SOS Entertainment, will turn over the reins of the chair position in December 2017. “I am a strong believer in VIA and the many wonderful things the organization brings to the business community,” Meyer stated. “The Santa Clarita Valley’s distinguished business-to-business organization fosters programs and networking Casino Kings Sukanya Northup 23638 Lyons Avenue #466 Santa Clarita, CA 91321 (888) 775-5825 snorthup@cacasinokings.com City National Bank Nicole Boyer 10889 Wilshire Blvd. Los Angeles, CA 90024 (310) 888-6965 Nicole.boyer@cnb.com Harvest Seminars Roger Doumanian 27955 N. Smyth Drive, #107 Valencia, CA 91355 (661) 857-1826 roger@harvestseminars.com D’Wilfri DanceArt and Entertainment Ingrid Blanco 28368 Constellation Road, Unit 340 Valencia, CA 91355 (661) 284-3407 idanceart@yahoo.com Northwestern Mutual T. Meyer 28652 Iron Village Drive Valencia, CA 91355 (818) 400-3085 t.meyer@nm.com Johnson & Myers Mike Myers

opportunities that bring like-minded individuals together to make the business community stronger.” Meyer is no stranger to VIA having served as the 2012 Chairwoman of the Board. She has been active in VIA since 2001 starting on the Membership Committee before moving to the VIA STAR committee. Her credentials include serving previously as Vice Chair of Education and the VIA Education Committee Chairperson. Outside VIA and her professional work life, Meyer is involved with the Association for Strategic Planning, Girl Scouts of Greater Los Angeles, and former board member for the Southern California American Marketing

Association. “Under Diana’s leadership, we will continue VIA’s success and initiatives implemented during Ed Masterson’s two-terms through continued collaboration with our partners, not just to grow the organization but to ultimately improve the business environment overall,” said Kathy Norris, VIA CEO/president. “If we’re all working together, that’s a big voice for business.” Meyer will be sworn into office on Tuesday, Dec. 19, 2017 at the Valencia Country Club in coordination with VIA’s board of directors’ installation luncheon. For more information, contact the VIA office at 661.294.8088 or visit via.org.

28911 Woodside Drive Santa Clarita, CA 91390 (661) 470-6602 mike@johnsonandmyers.com

Greg Wells Treasurer California United Bank Byron Alvarado The Strategy Group Jerry Buckley College of the Canyons J.C. Burnett Courier-Messenger, Inc. Denise Covert City of Santa Clarita Roger Doumanian Fresh Element Michael Little Poole & Shaffery, LLP Terry Mayfield Landsberg Myles McNamara Comfort Keepers Gloria Mercado-Fortine Global Education Solutions Jonathan Miller Henry Mayo Newhall Memorial Hospital Henry Rodriguez Henry Rodriguez State Farm Gary Sproule The Signal Teresa Todd Point of View Communications Kathy Norris CEO/President Valley Industry Association

Skyline Home Loans Gino Fronti 27441 Tourney Road, #100 Valencia, CA 91355 (661) 802-5797 gfronti@skylinehomeloans.com

VIA BOARD OF DIRECTORS Ed Masterson CHAIRMAN OF THE BOARD SOS Entertainment Diana Meyer Vice Chair, Education Logix Federal Credit Union Tim Burkhart Vice Chair, Programs Six Flags Magic Mountain Jill Mellady Vice Chair, Marketing Mellady Direct Hillary Broadwater Vice Chair, Events QM Design Group Chris Schrage Corporate Secretary LBW Insurance

SANTA CLARITA VALLEY BUSINESS JOURNAL 27

JULY 2017

A Letter from the Chairman Dear Friends, As you know, the time had arrived this year for

commitment of our members, business leaders

the SCV Chamber to reorganize our operations and

and the strong community support we've wit-

work through a complete, and thorough transfor-

nessed as we have embarked on this process.

mation process. It's not an easy process to restructure any organization, but it is a necessary process in order for us to become a bigger, better, stronger Chamber to best serve our members. We want you to know that through this process, the Chamber Board of Directors, staff and volunteers continue to be actively engaged in pro-

• The staff has risen to the occasion. We have been busy modernizing and streamlining internal processes to make the office more efficient. • Our ambassadors are working hard on promoting and supporting our local business to ensure we're a vibrant organization. We couldn't do it without our amazing volunteers! • The Board and Executive Committee is

viding strong member services and advocacy for

working tirelessly on policy and management

our business community.

issues to move the Chamber through this reor-

I am confident that at the end of the day we

■ John Musella

will be successful because of the dedication and

Seventh Annual

PATRIOTS LUNCH Honoring our Veterans in Business

ganization process. And while we build a bigger, better, stronger Chamber we are refreshing some Chamber traditions that have been at the core of our organization. Our State of the County event last month was our largest and most successful in a decade, as was our January Awards and Installation Dinner. Coming up, we have more exciting updates including: • Recognizing our veterans in business at the patriots luncheon on July 13 at TPC • The Annual Oak Tree Golf Classic on Oct 23, 2017 at TPC with a new theme • The Chamber Directory is being repurposed to become the SCV Business & Community

The Santa Clarita Valley Chamber of Commerce in partnership with the

City of Santa Clarita

Is pleased to honor the following veterans who have served our country and have made it back to help serve our Valley’s business community. Gasper Lentini - Korea Tommy Martin - Iraq/Afghanistan Jennifer McCoy -Afghanistan Garo Papazian -Vietnam

Gordon Rogers - WWII Jerry Schlund - Vietnam Ervin Thuerk - WWII

JULY 13, 2017 | 11:30 a.m.

Hyatt Regency Valencia | 24500 Town Center Drive Tickets: $50 per person - Table of ten (10): $500 Register and pay online at scvchamber.com

Title Sponsors

Guide. Ad sales will begin in the coming weeks for this exciting new business publication. The Santa Clarita Valley Chamber has been around for 94 years because we were built on successful partnerships with our small, medium and large businesses. Those Partnerships are growing and we're on the right path forward. I had the opportunity to interview with Leon Worden at SCVTV. The interview can be found on the SCVTV website under the Newsmaker of the Week section. If you ever have any questions, please email me at chairman@scvchamber.com. Onward and upward, John Musella Chairman, SCV Chamber of Commerce

(661) 702-6977 | www.scvchamber.com | events@scvhamber.com

23920 Valencia Blvd., Suite 265 | Santa Clarita, CA 91355

SANTA CLARITA VALLEY BUSINESS JOURNAL

PRACTICES Continued from page 19 they take risks, make changes, and keep moving ahead. This sense of teamwork goes far beyond a few direct reports or close confidants. They engage all those

JULY 2017

who must make the project work—and in some way, all who must live with the results. Leaders make it possible for others to do good work. They work to make people feel strong, capable, and committed. Exemplary leaders strengthen everyone's

capacity to deliver on the promises they make. When leaders enable employees to feel strong and capable — as if they can do more than they ever thought possible — they’ll give it their all and exceed their own expectations. Encourage the heart. The climb to the top is arduous and steep. People become exhausted, frustrated, and disenchanted. They're often tempted to give up. Genuine acts of caring uplift the spirits and draw people forward. Recognizing contributions can be oneto-one or with many people. It can come from dramatic gestures or simple actions. It’s part of the leader’s job to show appreciation for people’s contributions and to create a culture of celebrating values and victories. Recognition and celebration aren’t about fun and games, though there is

a lot of fun and there are a lot of games when people encourage the hearts of their constituents. Encouragement is, curiously, serious business. It’s how leaders visibly and behaviorally link rewards with performance. When striving to raise quality, recover from disaster, start up a new service, or make dramatic change of any kind, leaders make sure people see the benefit of behavior that’s aligned with cherished values. Excerpted from the sixth edition of The Leadership Challenge: How to Make Extraordinary Things Happen in Organizations, by James M. Kouzes and Barry Z. Posner. Kouzes is the Dean’s Executive Fellow of Leadership at the Leavey School of Business at Santa Clara University, where Posner is Accolti Endowed Professor of Leadership and former Dean. 

REAL ESTATE SECTION – Commercial, Industrial, Retail & Land Retail Buildings 23154 Valencia Boulevard

Sq. Ft. 10,300

Sale/Lease Lease

Price $1.25 SF/MO/NNN

Valencia Mart 25830-25848 McBean Parkway 3,000-2,800 Lease

$2.50 - $3.00 SF/MO/NNN

Granary Square 21515 Soledad Canyon Road 4,895-4,920 Lease

$1.25-$1.65 SF/MO/NNN

Golden Oak Plaza 26477-26557 Golden Valley Road 922, 1,022, 1,239 Lease

$2.00 SF/MO/NNN

Canyon Square 25739 Wayne Mills Place 2,434 Lease

$3.00 SF/MO/NNN

The Shops at Tourney 23323 - 23453 Lyons Avenue 2,575, 2,280 Lease

$1.50 - $3.25 SF/MO/NNN

Old Orchard Shopping Center 19915 - 19931 Golden Valley Road 1,500-3,881 Lease $2.00 SF/MO/NNN Patti Kutschko (Daum Commercial) 661-670-2003 23542 - 23546 Lyons Avenue 731 - 1,409 Lease $1.72 SF/MO/NNN 23452 - 23560 Lyons Avenue 450 - 4,000 Lease $1.10 SF/MO/NNN Matt Sreden (NAI Capital) 818-742-1660, Cameron Gray (NAI Capital) 661-705-3569 27510 The Old Road 11,057 Lease $2.00 SF/MO/NNN Yair Haimoff (NAI Capital) 818-203-5429, Randy Cude (NAI Capital) 661-705-3553, Steve Body (NAI Capital) 818-852-9255 24254 Main Street 500 – 6,000 Lease $2.00 SF/MO/MG 24269 Main Street 1,140 Lease $2.00 SF/MO/NNN 22520 Lyons Ave; Laemmie Theatre 2,058 Lease $2.00 - $2.50 SF/MO/MNN

Old Town Newhall Properties 23120 – 23130 Lyons Avenue Suite #3/4 1,225 Lease Suite # 8/9 1,800 Lease Suite #13 900 Lease Suite # 14 3,250 Lease Suite # 15 1,675 Lease Suite # 16 900 Lease Suite # 17 900 Lease Wayman Court 26865 – 26889 Sierra Highway 1,350 – 2,265 Lease Riverview Plaza 25269 The Old Road Suite # B 2,442 Lease Suite # F 1,300 Lease Suite # J 1,300 Lease Suite # L 1,300 Lease Suite # M 1,300 Lease Sunset Pointe Plaza Shopping Center 24003 Newhall Ranch Road 3,053 Lease Bridgeport Village 25810 Hemingway Avenue 1,540 Lease 25860 Hemingway Avenue 2,330 Lease

$1.10-$1.60 SF/MO/NNN $1.35 SF/MO/NNN $1.35 SF/MO/NNN $1.25 SF/MO/NNN $1.35 SF/MO/NNN $1.50 SF/MO/NNN $1.50 SF/MO/NNN $2.35 SF/MO/NNN

$1.50 SF/MO/NNN $1.75 SF/MO/NNN $1.75 SF/MO/NNN $1.75 SF/MO/NNN $1.75 SF/MO/NNN $3.00 SF/MO/NNN $2.25 SF/MO/NNN $2.00 SF/MO/NNN

SANTA CLARITA VALLEY BUSINESS JOURNAL 29

JULY 2017

REAL ESTATE SECTION – Commercial, Industrial, Retail & Land (cont.) Retail Buildings cont. Suite # 170 VTC III Suite # 190 VTC III

Sq. Ft. 2,472 1,706

Sale/Lease Lease Lease

Price $3.00 SF/MO/NNN $3.00 SF/MO/NNN

Valencia Town Center Cody Chiarella (CBRE) 818-502-6730, Richard Ramirez (CBRE) 818-907-4639 24048 Newhall Avenue 7,200 Sale $283.00SF/$2.40M 27516 The Old Road 2,000 - 6,500 Lease Negotiable Suite # 5 700 Lease $1.80 SF/MO/NNN Suite # 16 1,622 Lease $1.65 SF/MO/NNN Suite # 17 1,360 Lease $1.49 SF/MO/NNN Suite # 20 3,458 Lease $1.25 SF/MO/NNN Suite # 43 1,445 Lease $1.95 SF/MO/NNN Soledad Plaza Yair Haimoff (NAI Capital) 818-203-5429 27737 Bouquet Canyon Road 1,084- 2,191 Lease $1.70 SF/MO/NNN Andrew Ghassemi (NAI Capital) 661-705-3039, Randy Cude (NAI Capital) 661-705-3553, Yair Haimoff (NAI Capital) 818-203-5429 18926 - 18932 Soledad Canyon Road 1,080, 1,200, 5,600 Lease $1.75 SF/MO/NNN Knoll Shopping Center 24250 Lyons Avenue 918- 1200 Lease

 18597-18607 Soledad Canyon Road. LoopNet Photo.

Retail Buildings cont.

Sq. Ft.

Sale/Lease

Stevenson Ranch Plaza 23740 Lyons Avenue 9,000 Lease

Price $2.00 SF/MO/NNN

Lyons Plaza Tim Crissman (RE/Max Crissman Commercial Services) 661-295-9300 27737 Bouquet Canyon Road Suite #115 1,041 Lease Negotiable Suite # 118 1,747 Lease Negotiable Suite # 126 850 Lease Negotiable Suite # 132 2,191 Lease Negotiable 24048 Newhall Avenue 7,200 Lease $283.00 SF; $2.1M - Ex - Land Yair Haimoff (NAI Commercial) 818-203-5429 28207- 28313 Newhall Ranch Rd. 8,090 - 11,090 Lease $1.95 SF/MO/NNN

$2.50 SF/MO/NNN

The Moss Center 26111 Bouquet Canyon Road 998 - 3,000 Lease

$1.35 - $2.50 SF/MO/NNN

Santa Clarita Place 26811 Bouquet Canyon Road 1,000 - 3,000 Lease

$1.75 - $2.00 SF/MO/NNN

Santa Clarita Plaza 26441 Bouquet Canyon Road 1,692 Lease $3.75 SF/MO/NNN 18560 Via Princessa 700 Lease $4.29 SFMO/NNN 19981 Soledad Canyon Road 940 Lease $1.50 SF/MO/NNN 22921 Soledad Canyon Road 1,200 - 1,250 Lease $1.50 - $1.75 SF/MO/NNN 18740 Soledad Canyon Road 1,200 - 3,000 Lease $2.00 - $2.25 SFMO/NNN 26910 Sierra Highway 1,050 Lease $2.50 SF/MO/NNN 27984 Seco Canyon Road 1,200 - 1,700 $2.00 - $2.25 SF/MO/NNN 27532 - 27538 Sierra Highway 920 - 1,200 Lease 2.00 SF/MO/NNN 27737 Bouquet Canyon Road 582 - 2,191 Lease $1.70 SFMO/NNN 226 Lyons Avenue 22,219 Lease/Sale $2.75 SF/MO/NNN; $3.0M 31675 Castaic Road 1,000 - 4,900 Lease $2.00 SF/MO/NNN Randy Cude (NAI Capital) 661-705-3553 27125 Sierra Highway 500, 2,000, 7,000 Lease 1.50 SF/MO/MG Randy Cude (NAI Capital) 661-705-3553, Blaire Herman (NAI Capital) 661-705-3550 31703 Castaic Road 3,582 Sale $418.50 SF; $1.5M Ron Berndt (Daum Commercial) 661/670-2000, Patti Kutschko (Daum Commercial) 661-670-2003 23300 Cinema Drive 150 - 1,300 Lease $1.75 SF/MO/NNN Cinema Park Renna Newhall 661-253-3344

Office/Commercial Buildings 27770 N. Entertainment Drive

Sq. Ft. 5,000 - 10,000

Sale/Lease Lease

Price $2.25 SF/MO/FSG

Allen Trowbridge (CRESA) 818-825-4141

Gateway Village 28130 - 28136 Newhall Ranch Rd. 1,825 - 3,650 Lease

$2.75 SF/M0/NNN

Suite # 201

Highridge Crossing 27923 – 27959 Seco Canyon Rd. 1,600 Lease

$2.50 SF/M0/NNN

Seco Canyon Village 27015 McBean Parkway 1,100 - 54,000 Lease

Andrew Ghassemi (NAI Capital) 661- 705-3039, Yair Haimoff (NAI Capital) 818-203-5429

Negotiable

The Promenade @ Town Center SEC Newhall Ranch Rd. & Rye Canyon Rd. 1,500 - 6,000 Lease Copper Ranch Plaza 26441 Bouquet Canyon Road 1,692 Lease

22777 Lyons Avenue

$2.50 - $3.25 SF/MO/NNN $4.00 SF/MO/NNN $3.00 SF/MO/NNN

Valencia Village 22903 - 23023 Soledad Canyon Road 1,205 - 3,172 Lease

$1.75 SF/MO/NNN

Del Rio Center 27544 Newhall Ranch Road 1,450 Lease

$2.50 SF/MO/NNN

Plaza Del Rancho NWC Bouquet Canyon/Madrid Road 1,200 - 20,000 Lease

Negotiable

$1.30 SF/MO/MG

The Lyons Building

Suite #200

5,656

Lease

$1.85 SF/MO/MG

Suite #224

1,334

Lease

$1.50 SF/MO/MG

Suite #226

1,070

Lease

$1.75 SF/MO/MG

Suite #130

4,771

Lease

$1.85 SF/MO/MG

Suite #130A

7,817

Lease

$1.85 SF/MO/MG

Rexford Valencia Industrial Park Richard Ramirez (CBRE) 818- 907-4639, Craig Peters (CBRE) 818- 907-4616 805- 832

Lease

23556 - 23560 Lyons Avenue

25044 Peachland Avenue

280 - 1,320

Lease

$1.85 SF/MO/NNN $1.65 SF/MO/NNN

23548 - 23560 Lyons Avenue

450 - 2,623

Lease

$1.68 SF/MO/NNN

Matt Sreden (NAI Capital) 818-742-1660, Cameron Gray (NAI Capital) 661-705-3569

Negotiable

Rio Norte Plaza 27916 - 27984 Seco Canyon Road 1,219 - 1,700 L ease

$2.00 - $2.25 SFMO/NNN

Seco Plaza SEC Lyons Avenue & Main Street 1,100 - 10,000 Lease

$2.75 -$3.00 SF/MO/NNN

Newhall Crossings

Lease

28159 Avenue Stanford

Bouquet Shopping Center 27530 - 27560 Newhall Ranch Road 1,100- 1,750 Lease

Plum Canyon Center SWC Copperhil Drive & Rio Norte 1,000 - 10,000 Lease

280

John Cserkuti (NAI Capital) 661-705-3551 27630 The Old Road 1,700 – 7,000 Lease Negotiable 24300 – 24305 Town Center Drive 997 – 8,565 Lease $2.20 -$3.50 SF/MO/NNN Cody Chiarella (CBRE) 818-502-6730, Doug Marlow (CBRE) 818-502-6707, David Solomon (CBRE) 818-907-4628 24510 Town Center Drive Suite # 102 VTC I 1,006 Lease $3.50 SF/MO/NNN Suite # 110 VTC III 997 Lease $3.50 SF/MO/NNN

25322 Rye Canyon Road

25,200

Foe Sale

$258 SF; $6.5M

26320 Diamond Place, Suite # 170

2,332

Lease

$1.15 SF/MO/NNN

26320 Diamond Place, Suite # 200

5,562

Lease

26320 Diamond Place, Suite # 180

2,153

Lease

26330 Diamond Place, Suite # 140

3,460

Lease

24932 Kearny 27821 Fremont Court; Suite # 6

Negotiable $1.15 SF/MO/NNN-WH $1.15 SF/MO/NNN

3280 - 11,935

Lease

Negotiable - Lease Flex

3,045

Sale

$215 SF/$645,675

1,049

Lease

$2.25 SF/MO/MF

Yair Haimoff (NAI Capital) 818-203-5429 24961 The Old Road

Yair Haimoff (NAI Capital) 818-203-5429, Matt Sreden (NAI Capital) 818-742-1660 25129 The Old Road, Suite # 105

1,629

Lease

$2.50 SF/MO/FSG

Suite # 110

2,300

Lease

$2.50 SF/MO/NNN

See REAL ESTATE SECTION, page 30

SANTA CLARITA VALLEY BUSINESS JOURNAL

JULY 2017

REAL ESTATE SECTION – Commercial, Industrial, Retail & Land (cont.) Office/Commercial Buildings cont.

Sq. Ft.

Sale/Lease

Price

Office/Commercial Buildings cont.

Sq. Ft.

Sale/Lease

Price

Lease Lease

$2.50 SF/MO/NNN $2.50 SF/MO/NNN

Sunset Pointe Plaza Tim Crissman (ReMax/Crissman Commercial Services) 661-295-9300 27200 Tourney Road 2,181 - 22,919 Lease

$2.20-$2.55 SF/MO/FSG

Tourney Pointe 23822 Valencia Blvd. 1,197 - 4,104 Lease

$2.35 SF/MO/FSG

Suite # A 340 3,029 Lease $1.75 SF/MO/FSG Suite # B 230 2,279 Lease $1.75 SF/MO/FSG Suite # B 240 612 Lease $1.85 SF/MO/FSG Valencia Park Executive Center Richard Ramirez (CBRE) 661-907-4639, Robert Valenziano (CBRE) 818-907-4663 28480 Avenue Stanford 50,351 Lease/Sale $2.85 SF/MO/FSG; TBD 28470 - 28490 Avenue Stanford 1,230 - 10,840 Lease $2.75 SF/MO/FSG

Valencia Oaks 23929 Valencia Blvd. 1,114 - 2,923 Lease

$2.35 SF/MO/FSG

Craig Peters (CBRE) 818-907-4616, Richard Ramirez (CBRE) 818-907-4639

Bank of America Tower 27202, 27220 & 27240 Turnberry 1,866 - 29,959 Lease

$2.25 SF/MO/FSG

Richard Ramirez (CBRE) 818-907-4639, Craig Peters (CBRE) 818-907-4616

Summit at Valencia 25600 Rye Canyon Road 645 - 1,504 Lease

$1.50 SF/MO/MG

Suite #207 Suite #210

1,273 2,338

Executive Center Valencia Kevin Fenenbock (Colliers Int.) 661-253-5204 25060 Avenue Stanford Suite # 245 1,381 Lease Suite # 260 1,940 Lease Suite # 285 2,728 Lease Suite # 295 1,133 Lease Suite # 100 22,186 (divisable) Lease

Valencia Corporate Plaza 28546 Constellation Road 27441 Tourney Road; Suite # 240

Lease

$0.90 SF/MO/NNN

1,342

Lease

$2.75 SF/MO/FSG

692 - 5,710

Lease

$1.55 SF/MO/FSG + J

Richard Ramirez (CBRE) 818-907-4639 23502- 23504 Lyons Avenue

Lyons Plaza $1.90 SF/MO/FSG $1.90 SF/MO/FSG $1.90 SF/MO/FSG $1.90 SF/MO/FSG $1.90 SF/MO/FSG

Paragon Business Center 28650 Braxton Avenue 52,260 Lease $0.61 SF/MO/NNN John Erickson (Colliers Int.) 661-253-5202, Chris Erickson (Colliers Int.) 661-253-5207 27630 The Old Road 1,700 - 7,000 Lease Negotiable 24510 Town Center Drive Suite # 120 4,169 Lease $2.35 SF/MO/NNN Suite # 130 1,446 Lease $2.35 SF/MO/NNN Suite # 135 2,472 Lease $2.35 SF/MO/NNN Valencia Town Center Craig Peters (CBRE) 818-907-4616, Sam Glendon (CBRE) 818-502-6745, Cody Chiarella (CBRE) 818- 502-6730 25102 Rye Canyon Loop Suite, # 120 1,814 - 9,501 Lease $1.80 SF/NNN

23734 Valencia Boulevard

1,523 - 1,860

Lease

$1.95 SF/MO/FSG + J

Cameron Gray (NAI Capital) 661-705-3569 28245 Avenue Crocker Suite #106

1,966

Lease

$1.75 SF/MO/NNN

James Ebanks (Realty Advisory Group Inc.) 661-702-8880 x 12, Lauren Ebanks (Realty Advisory Group Inc.) 661-702-8882 x 18 25050 Avenue Kearny

890 - 2,926

Lease

$1.85 SF/MO/FSG

Rebel Professional Randy Cude (NAI Capital) 661-705-3553 25128 Avenue Tibbitts

2,833 - 5,666

Lease

$2.25 SF/MO/MG

Randy Cude (NAI Capital) 661-705-3553, Blaire Herman 661-705-3559 27965 Smyth Drive

2,322

Lease

$2.20 SF/MO/MG

Kevin Tamura (Daum Commercial) 661-670 -2001, Ron Berndt (Daum Commercial) 661-670-2000

Office/ Medical Buildings

Sq. Ft.

Sale/Lease

Price

Suite # 240

3,750

Lease

$2.75 RSF/MO/FSG

Suite # 290

5,549

Lease

$2.75 RSF/MO/FSG

25775 McBean Parkway 1,201 - 6,682 Lease $2.76 SF/MO/NNN 25880 Tournament Road 1,043 – 4,559 Lease Negotiable Cody Chiarella (CBRE) 818-502-6730, Troy Pollet (CBRE) 818-907-4620 25050 Peachland Avenue 800 - 4,000 Lease $1.95 SF/MO/NNN Plaza Posada Medical Center Matt Sreden (NAI Capital) 818-742-1660, Cameron Gray (NAI Capital) 661-705- 3569 27420 Tourney Road; Suite #220 550 Lease $5.00 SF/MO/NNN Yair Haimoff (NAI Capital) 818 - 203-5429 23838 Valencia Boulevard Suite # 120 904 Lease Negotiable Suite # 140 3,988 Lease $2.25 SF/MO/NNN Suite # 200 4,143 Lease Negotiable Suite # 230 1,920 Lease Negotiable The Atrium Yair Haimoff (NAI Capital) 818-203-5429, Andrew Ghassemi (NAI Capital) 661-705-3039, Matt Sreden (NAI Capital) 818-742-1660

Suite # 340

3,180

Lease

$2.75 RSF/MO/FSG

Land (Commercial, Industrial & Retail) Acres

Suite # 390 3,496 Lease 25124 Springfield Court Suite # 170 5,984 Lease

$2.75 RSF/MO/FSG

SWC Golden Valley Rd./Centre Pt. Pkwy. 1.5 Sale $35.20 SF/$2,300,000 Nigel Stout (JLL) 818-531-9685 23600 Sierra Highway 10 Sale $14.35 SF/$6.25M 23658 Sierra Highway 6 Sale $23.70 SF/$6.2M Placerita Canyon 10 Sale $5.70 SF/$2.5M Sierra Highway 30,000 SF Sale $20.00 SF/$600,000 SEC Castaic Road/Parker 21,195 SF Sale/Lease $56.60 SF/$1.2M/$8,500 MO 49637 Gorman Post Road 1 Lease $2,500 MO 3251-014-016 Peace Valley Road/Gorman 2 SaleLease $19.40 SF/$1.7M/$10,000 MO 3251-014-019 Peace Valley Road/Gorman 1 Sale/Lease $45.90 SF/$2.0M/$8,333 MO Randy Cude (NAI Capital) 661-705-3553 Soledad Canyon Road/Camp Plenty 22 Sale $2.60 SF/$2.5M NEC Bouquet Canyon Road & Plum Canyon Road 1.86 Sale $25.00 SF/$2.0M/$25,000 NWC Bouquet Canyon/Madrid Road 3.71 Sale $30.00 SF/$4.85M John Z. Cserkuti (NAI Capital) 661-705-3551 17129 Sierra Highway 3 Sale $16.00 SF/$2.1M 15112 Sierra Highway 149 Sale $.60 SF/$3.9M Yair Haimoff (NAI Capital) 818-742-1659 SWC Soledad Canyon Rd/Golden Valley Rd 1.19 Sale $21.00 SF/$1.1M Valley Business Center 1.9 Sale $23.00 SF/$1.9M Valley Business Center 2.29 Sale $21.00 SF/$2.1M Valley Business Center 2.67 Sale $21.00 SF/$2.4M Valley Business Center 3.86 Sale $21.00 SF/$3.5M Valley Business Center 4.96 Sale $21.00 SF/$4.5M Valley Business Center 6.15 Sale $21.00 SF/$5.6M Kevin Tamura (Daum Commercial) 661-670 -2001, Ron Berndt (Daum Commercial) 661-670-2000 20000 Soledad Canyon Road 22 Sale $2.60 SF/$2.5M Randy Cude (NAI Capital) 661-705-3553, John Cserkuti (NAI Capital) 661-705-3551 Sierra Highway/Crown Valley Road 60,984 Sale $8.20 SF/$500,000 Pamela Verner (SCV Commercial Real Estate Services) 661-714-5271 26245 Technology Drive 60,068 Lease $0.69 SF/MO/NNN 28104 Witherspoon Parkway 42,400 SubLease $0.68 SF/MO/Gross Doug Sonderegger (CBRE) 818-907-4607

Southern California Innovation Park Craig Peters (CBRE) 818-907-4616, Doug Sonderegger (CBRE) 818-907-4607 26650 The Old Road Suite # 105

3,060

Lease

$2.80 SF/M0/FSG

Suite # 200

2,399

Lease

$2.65 SF/M0/FSG

Suite # 350

1,900

Lease

$2.65 SF/M0/FSG

Westridge Executive Plaza Richard Ramirez (CBRE) 818-907-4639, Craig Peters (CBRE) 818-907-4616 25152 Springfield Court Suite # 120

3,233

Lease

$2.75 RSF/MO/FSG

Suite # 140

3,460

Lease

$2.75 RSF/MO/FSG

Suite # 210

1,187

Lease

$2.75 RSF/MO/FSG

The Commons at Valencia Gateway David Solomon (CRRE) 818-907-4628, Douglas Marlow (CBRE) 818-502-6707 25350 Magic Mountain Parkway Suite # 270

1,755

Lease

$2.85 RSF/MO/FSG

Suite # 350

2,503

Lease

$2.85 RSF/MO/FSG

25360 Magic Mountain Parkway; Suite 280

1,967

Lease

$2.85 RSF/MO/FSG

Gateway Plaza David Solomon (CBRE) 818-907-4628, Matthew Heyn (CBRE) 818-907-4619 24200 Magic Mountain Parkway Suite # 120 (can combine all 3 suites)

4,169

Lease

$2.95 SF/MO/FSG

Suite # 130 (can combine all 3 suites)

1,446

Lease

$2.95 SF/MO/FSG

Suite # 135 (can combine all 3 suites)

1,753

Lease

$2.95 SF/MO/FSG

VTC IV David Solomon (CBRE) 818-907-4628 27201 Tourney Road Suite # 123 Suite # 212; can be combined with 210 and 206 Suite # 210; can be combined with 212 and 206

1,217 2,389 1,528

Lease Lease Lease

$2.35 SF/MO/FSG $2.35 SF/MO/FSG $2.35 SF/MO/FSG

Suite # 206; can be combined with 210 and 210

1,115

Lease

$2.35 SF/MO/FSG

Valencia Executive Plaza 25350 Magic Mountain Parkway; Suite # 190

4,002

SubLease

Negotiable

Pamela Verner (SCV Commercial Real Estate Services) 661-714-5271 24001 Newhall Ranch Road Suite, #260 486 Lease $3.65 SF/MO/FSG Bridgeport Marketplace Craig Peters (CRRE) 818-907-4616, Doug Sonderegger (CBRE) 818-907-4607 25115 Avenue Stanford Suite # A 102

1,273

Lease

$1.75 SF/MO/FSG

Sale

Price

SANTA CLARITA VALLEY BUSINESS JOURNAL 31

JULY 2017

REAL ESTATE SECTION – Commercial, Industrial, Retail & Land (cont.) Industrial Buildings

Sq. Ft.

Sale/Lease

28313 Industry Drive 2,786 Lease 28303 Industry Drive 6,085 Lease 26027 Huntington Lane; Unit F 4,119 Lease Sam Glendon (CBRE) 818- 502-6745 28452 - 28456 Constellation Road 1,200 Lease 28392 - 28396 Constellation Road 6,360 Sale 28392 Constellation Road 3,180 Sale 28396 Constellation Road 3,180 Sale

Price $1.07 SF/MO/Gross $1.05 SF/MO/Gross $0.90 SF/MO/Gross $0.99 SF/MO/NNN $235.00 SF/$1.5M $249.00 SF/$792,000 $249.00 SF/$792,000

Spectrum Business Center Yair Haimoff (NAI Capital) 818-203-5429 17645 Sierra Highway 4,180 Lease $1,44 SF/MO/MG 28486 Westinghouse Place, Suite # 100 B 2,600 Lease $0.99 SF/MO/MG Yair Haimoff (NAI Capital) 818-203-5429, Andrew Ghassemi (NAI Capital) 661-705-3039 28368 Constellation; Unit #340 3,770 Sale $260.00 SF/$980,200 Yair Haimoff (NAI Capital) 818-203-5429, Matt Sreden (NAI Capital) 818-742-1660, Andrew Ghassemi (NAI Capital) 661-705-3039 28494 Westinghouse Place Unit # 111 2,270 Lease $2.25 SF/MO/MG Unit # 112 1,720 Lease $2.25 SF/MO/MG Unit # 114 1,110 Lease $2.25 SF/MO/MG Unit # 115 1,110 Lease $2.25 SF/MO/MG Unit # 209 1,290 Lease $2.25 SF/MO/MG Unit # 306 2,208 Lease $2.25 SF/MO/MG Unit # 308 1,290 Lease $2.25 SF/MO.MG Unit # 311 2,270 Lease $2.25 SF/MO/MG Unit # 216 760 Lease $2.25 SF/MO/MG Valencia Atrium 28486 Westinghouse Place 2,600 Lease $0.99 SF/MO/MG Matt Sreden (NAI Capital) 818-742-1660, Andrew Ghassemi (NAI Capital) 661-705-3039, Yair Haimoff (NAI Capital) 818-203-5429 28650 Braxton Avenue 52,260 Lease $0.61 SF/MO/NNN 26074 Avenue Hall Suite # 1 7,444 Lease $0.95 SF/MO/Gross 28079 Avenue Stanford 25,130 Lease $0.70 SF/MO/NNN 25217 Rye Canyon Road 12,024 Lease $0.75 SF/MO/NNN 25574 Rye Canyon Road Suite #F 1,600 Lease $1.15 SF/MO/Gross 25030 Avenue Tibbitts Suite # H 3,600 Lease $1.10 SF/MO/Gross John Erickson (Colliers Int.) 661-253-5202, Chris Erickson (Colliers Int.) 661-253-5207 25158 Avenue Stanford 44,548 Sale $132.00 SF/$5.9M 28486 Westinghouse Place, Suite # 120 6,255 Sale $209.00 SF/$1.3M 28334 Industry Drive 35,310 Lease $0.59 SF/MO/NNN Matt Dierckman (CBRE) 818-502-6752 25159 Avenue Stanford 79,701 Sale $115.00 SF/$9.2M Todd Lorber (NAI Capital) 818-933-2376 27772 Avenue Scott 22,565 Lease $0.80 SF/MO/NNN Yair Haimoff (NAI Capital) 818-203-5429, Randy Cude (NAI Capital) 661-705-3553 28210 N. Avenue Stanford 109,379 Lease $0.58 SFMO/NNN Craig Peters (CBRE) 818-907-4616 25161 Rye Canyon Loop 18,465 Lease $0.60 SF/MO/NNN 25110 Rye Canyon Loop 8,384 Lease $0.76 SF/MO/NNN 25109 Rye Canyon Loop 20,761 Lease $0.76 SF/MO/NNN Southern California Innovation Park Craig Peters (CBRE) 818-907-4616, Doug Sonderegger (CBRE) 818-907-4607 26340 Ruether Avenue 1,511 Lease $1.15 SF/MO/MG 26346 Ruether Avenue 1,756 Lease $1.15 SF/MO/MG 24907 Avenue Tibbits; Suite C 7,050 Lease $1.15 SF/MO/MG 26007 Huntington Lane; Suite #1 2,760 Lease $1.15 SF/MO/MG 26378 Ruether Avenue 2,994 Lease $1.15 SF/MO/MG Bernards Centre Point Park Tim Crissman (ReMax/Crissman Commercial Services) 661-295-9300 28939 N. Avenue Williams 58,395 Sub-Lease $0.79 SF/MO/IG Matt Sreden (NAI Capital) 818-742-1660 24700 Avenue Rockefeller 45,269 Lease $0.68 SF/MO/NNN 28016 West Industry Drive 25,328 Lease $0.74 SF/MO/NNN 24908 Avenue Kearny 37,294 Lease $0.68 SF/MO/NNN Craig Peters (CBRE) 818-907-4616, Doug Sonderegger (CBRE) 818-907-4607 21515 Centre Pointe Parkway 16,773 Sale $215.00 SF/$3.6M Chris Jackson (NAI Capital) 818-933-2368,Todd Lorber (NAI Capital) 818-933- 2376, Matt Ehrlich (NAI Capital) 818-933- 2364 28545 Livingston Avenue 173,000 Lease $0.65 SF/MO/NNN 28454 Livingston Avenue 134,287 Sub-Lease $0.65 SFMO/NNN Chris Jackson (NAI Capital) 818-933-2368,Todd Lorber (NAI Capital) 818-933- 2376 27811 Avenue Hopkins; Suite # 9 2,220 Lease $0.97 SF/MO/Gross 27833 Avenue Hopkins; Suite # 4 2,940 Lease $0.97 SF/MO/Gross 26818 Oak Avenue; Unit J 2,940 Lease $1.00 SF/MO/Gross 26841 Ruether; Unit D 1,130 Lease $1.10 SF/MO/Gross 21021 Soledad Canyon; Suite # 104 1,521 Lease $1.35 SF/MO/NNN Kevin Tamura (Daum Commercial) 661-670 -2001, Ron Berndt (Daum Commercial) 661-670-2000 27121 Furnvall Avenue 11,318 Lease $1.42 SF/MO/MG Randy Cude (NAI Capital) 661-705-3553

 Valencia Executive Plaza. LoopNet photo.

Industrial Buildings cont.

Sq. Ft.

Sale/Lease

4,150

Sale

43,584

Lease

27891 Smyth Drive 28606 Hasley Canyon

Price $232.23 SF/$962,000 $0.72 SF/MO/NNN

James Ebanks (Realty Advisory Group Inc.) 661-702-8880 x 12, Lauren Ebanks (Realty Advisory Group Inc.) 661-702-8882 x 18 28510 Industry Drive

46,778

Sale

$142.50 SF/$6.7M

Bernards Centre Point Park Doug Donderegger (CBRE) 818-907-4607, Craig Peters (CBRE) 818-907-4616

Future Industrial Projects Sq. Ft.

Sale/ Lease

Price/ Occupancy

VCC; West of I-5/N of Highway 126 Gateway V

88,752,105,407

IAC Commerce Center (Phase 1)

Lease

TBD; Available

93,600, 116,740, 187,880 Lease

TBD; 3Q 2017

SWQ of Newhall Avenue/Sierra Highway Phase 1; The Center at Needham Ranch

16,000 - 223,530

Sale /Lease

TBD; TBD

Craig Peters (CBRE) 818-907-4616, Doug Sonderegger (CBRE) 818-907-4607, Richard Ramirez (CBRE) 818907-4639 28608 Hasley Canyon Road

44,162

Lease

$0.72 SF/MO/NNN

Avalon Business Center

20,499, 23,668

Lease

$0.74 SF/MO/NNN

James Ebanks (Realty Advisory Group Inc.) 661-702-8880 x 12, Lauren Ebanks (Realty Advisory Group Inc.) 661-702-8882 x 18 28510 Industry Drive

46,778

Sale

$142.50 SF/$6.7M

Gateway Industrial Doug Sonderegger (CBRE) 818-907-4607, Craig Peters (CBRE) 818-907-4616

Future Office Projects

Sq. Ft.

27770 N. Entertainment Drive

100,000 SF (5,000-10,000 SF)

Sale/Lease

Price

Sublease

$2.25 SF/MO/NNN

Allen Trowbridge (Cresa) 818-223-0073 27335 Tourney Road

45,675

Lease/Sale $2.95 SF/MO/FSG; $350.00 SF

Allen Trowbridge (Cresa) 818-223-0073 NOTE: Parties interested in further information should contact the listing broker(s) or James E. Brown, Manager Business Attraction, SCVEDC at 661-288-4413 or via email at Jimbrown@scvedc.org. The Real Estate Section of the SCVBJ is the most comprehensive database of Commercial, Industrial, Retail and Land Listings in the SCV.

SANTA CLARITA VALLEY BUSINESS JOURNAL

JULY 2017

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6/27/2017 9:05:23 AM