Valley Industry & Commerce Association | |
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- LA City Council Votes Krekorian for Council president
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VICA Board Supports Measure LA, Rebuild our Community Colleges
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VICA Board Opposes Expanded Gambling, No on Prop 26 and 27
- VICA PAC 2022 Endorsements
- Let Us Known Your 2023 Legislative Priorities
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"It's felt like a coronation when electing a new Council President, and I want you to know that as long as I have the privilege of serving in this office as your President, the presidency will be a collective enterprise". | |
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Council President Paul Krekorian
Statement on Being Appointed to Council President Tuesday
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LA City Council Votes Paul Krekorian as Council President | |
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LA City Council voted to appoint Councilmember Paul Krekorian as the new Council President by a 10-0 vote this Tuesday. This follows the resignation of Councilmember Nury Martinez following revelations from the Los Angeles Times where she and two other councilmembers made derogatory remarks about Councilmember Bonin's child and redistricting efforts.
Following the Council's motion to support Councilmember Krekorian, he declared that he would work in the spirit of Los Angeles and heal the racial divisions between minority communities, reduce the power of the council president and end the era of "unilateral decision-making."
In a statement, VICA President Stuart Waldman said, "He is the dean of the Council and is widely respected by his peers. He will bring a steady hand in a time of great uncertainty. We applaud his leadership and look forward to working with him for the next two years."
The council also moved two significant reform measures forward - one to increase the number of seats on the City Council and another to put an independent commission in charge of the city's redistricting process. Both reforms will require a lengthy approval process, including a vote by residents.
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VICA Supports Measure LA, Rebuild Our Community Colleges | |
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The VICA Board proudly supports Measure LA, a $5.3 billion bond measure that invests in the educational future of residents served by the country's largest community college district.
Measure LA would provide funding to renovate and modernize facilities, including athletic spaces and educational buildings, and develop infrastructure, including upgrades in technology and promoting campus sustainability.
Measure LA would require voter approval above 55% and would provide funding for a list of projects that have been backlogged such as upgrades to building safety requirements, new power, water, and sewer infrastructure, as well as addressing district goals like achieving carbon-free energy consumption by 2040.
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VICA Opposes Proposition 26 and 27, No to Expanded Gambling | |
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The VICA Board opposes Proposition 26, which would legalize, regulate, and tax new gaming operations on tribal casinos and racetracks, and Proposition 27, which would allow online and mobile sports wagering to occur within California through changes to the State Constitution.
Proposition 26 would enforce gambling laws and expand the Private Attorney General Act (PAGA), allowing people and entities to file civil suits against cardrooms for pretty much any reason, risking the closure of sources of revenue for local municipalities.
Proposition 27 would require companies and tribes to make 10% payments of all sports bets to fund state efforts to address homelessness and provide services. Prop 27 would legalize the most significant expansion of gambling but lacks critical safeguards to prevent underage gambling, with 90% of profits going to out-of-state entities.
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VICA PAC 2022 Voter Guide | |
For the full 2022 Voter Guide, click the button below! | |
What are Your Legislative Priorities? Tell VICA! | |
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As legislative sessions draw to a close, it's always important to ask what the next legislative session's agenda might look like and how that affects your business and the greater San Fernando Valley- Los Angeles business community.
VICA committees have begun discussing legislative priorities for 2023, and we want to know what you think will be important for 2023. Click the Notify Now button below to communicate your ideas to our Legislative Affairs Manager, Victor Reyes, or email victor@vica.com
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VICA Thanks Our Renewing Members! | | |
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Silver Member:
Renewing Members:
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VICA After Dark: Supervisor Kathryn Barger
Thursday, October 27 | 5:30 PM
Anheuser-Busch
Supervisor Kathryn Barger serves the residents of the 5th District — Los Angeles County’s largest — spanning over 2,785 square miles, which includes 20 cities and 83 unincorporated communities in the Antelope, San Gabriel, San Fernando, Crescenta, and Santa Clarita Valleys.
VICA thanks our Presenting Sponsors Anheuser-Busch, Amazon, Comcast NBCUniversal, SoCalGas, Southland Regional Association of Realtors, and Wells Fargo.
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Labor & Employment Committee Meeting
Wednesday, November 2
8:30 - 10:30 AM
Hosted by Sun Hill Properties/Hilton Universal City
RSVP
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Education Committee Meeting
Thursday, November 3
8:30 - 10:30 AM
Hosted by Los Angeles Valley College
RSVP
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Newsom to End State of Emergency
Governor Newsom plans to take action in February 2023 to end the COVID-19 state of emergency in California that he initially declared in 2020. The governor declared a state of emergency in the early days of the pandemic to waive state regulations and statutes and redirect funds to respond to the public health crisis. Newsom's office said the dramatic decline in deaths and hospitalizations over time has given him the confidence to call off the COVID-19 state of emergency three years after he made the declaration.
Stocks Rally in Latest Volatile Move
Wall Street kicked off a busy week of corporate earnings with a broad rally Monday. The S&P rose 2.6%, the Dow rose 1.9%, and the Nasdaq added 3.4%. Bond yields eased back from their multiyear highs and took some pressure off stocks. The yield on the 10-year Treasury, which influences mortgage rates, held steady at 4.02%. The yield on the two-year Treasury, which tends to track expectations for future Federal Reserve action, fell to 4.46% from 4.5% Friday. Investors are worried about hot inflation and the potential for a recession in the U.S. and global economies. Concern is the Fed's policy to raise interest rates to cool inflation, which could slip us into a recession.
Biden to release 15 million Oil Barrels
Biden announced the release of 15 million barrels of oil from the U.S. strategic reserve Wednesday as part of a response to recent production cuts announced by OPEC+ nations and says more oil sales are possible this winter. Biden will also restock the strategic reserve when oil prices are as low as $67 to $72 a barrel, an offer that administration officials argue would increase domestic production by guaranteeing a baseline level of demand. Biden has resisted the policies favored by oil producers, instead seeking to reduce prices by releasing oil from the reserve, shaming oil companies for their profits, and calling on greater production from OPEC.
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Murdoch Moves to Unite Media Entities
Rupert Murdoch is exploring reuniting his U.S. news companies, bringing titles like the Wall Street Journal and Fox News under one umbrella. News Corp., owner of the Journal and the New York Post, and Fox corp said they had formed a special committee to explore a combination. The media landscape has made it difficult for the two entities to separate. Having the two entities merge will amass a scale to competitors like Warner Bros, Discovery, and tech platforms such as Amazon.
Bird Flu Cases Reported in LA
Los Angeles County health officials announced that seven geese and a heron have tested positive for avian flu, marking the first time the disease has been detected in the county this year. Officials caution that while the risk to the general public is low, human transmission is possible. roughly 47 million birds have died this year amid a nationwide avian influenza outbreak, according to the U.S. Department of Agriculture, with an estimated 42 states impacted. The disease is spread among birds through direct contact or indirectly through clothing, shoes, vehicles, rodents, insects, food, water, and other means. According to officials, birds shed the virus through mucus, droppings, and saliva.
Netflix Gain Subscribers This Quarter
After two consecutive quarters of subscriber decline, Netflix said its prospects look better for the second half of the year as it prepares to launch a cheaper streaming plan with ads. The streaming platform added 2.4 million subscribers in the third quarter, beating projections by the company and Wall Street. Netflix said it expects to add 4.5 million customers in the fourth quarter. Although it remains the dominant subscription streaming service with 2234 million subscribers, Netflix's market share is slipping as rivals pick up business. Its percentage of U.S. internet streaming subscriptions will fall to 29% by the end of the year, down from 49% in 2018.
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Member Messages
Get Your Message in VICA Weekly!
VICA members can promote their business, events and news in VICA Weekly. Member messages are available for $50 per week or $175 for four weeks. Messages are text-based and may not contain more than 70 words. A logo may be added for an additional $5 per week. For more information or to schedule your member message, contact cathy@vica.com or call (818) 817-0545.
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ABOUT VICA
Presenting the business perspective on behalf of employers in the
San Fernando Valley cities of Los Angeles, Burbank, Glendale, Calabasas,
Hidden Hills, San Fernando and Santa Clarita.
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