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Serving the San Fernando Valley cities of Los Angeles, Burbank, Glendale, Calabasas, Hidden Hills, San Fernando, and Santa Clarita
Valley Industry & Commerce Association vica.com
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- VICA Hosts 35th Annual Business Forecast Conference
- VICA Wants to Know Your Legislative Priorities for 2024
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Quick Jump - Register to Attend!
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"Delaying the disbursement of relief funds to mom-and-pop property owners is simply unacceptable...The bottom line is that we don't have the luxury of taking our time to launch relief programs. We expect the property owners to pay their property taxes on time, so the County needs to reciprocate quickly and step up in times of need. I expect nothing less."
Kathryn Barger, LA County Board of Supervisor
Statement on County's delayed roll-out of a small property owner rent relief program approved earlier this year
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VICA Hosts 35th Annual Business Forecast Conference | |
VICA hosted our 35th annual Business Forecast Conference on Friday, October 27th, at the Hilton Universal. We owe the success of this annual event to our Presenting Sponsors, Amazon and Southern California Gas Company, along with our Co-Sponsors: The Garland, Los Angeles Daily News, and San Fernando Valley Business Journal. The conference brought together a diverse group of industry leaders, experts, and business executives, serving as a crucial platform for insights and discussions on the pivotal issues that will shape the year ahead. | |
Take Our Business Forecast Conference Survey! | |
If you were among the attendees at our Business Forecast Conference, your feedback is invaluable to us. Please take a moment to complete our event survey and share your insights to help us improve for our future events. | |
Economic Forecast Breakfast | |
From Left to Right: VICA Chair Victor Berrellez (US Bank), William Dolan (US Bank), Barbara Bagley (Bank of America), VICA Vice Chair Cameron Onumah (Amazon) | |
The day began with an informative Economic Forecast Breakfast, sponsored by Bank of America and moderated by Cameron Onumah from Amazon. Two notable panelists, Barbara Bagley of Bank of America and William Dolan from US Bank, discussed various economic trends and financial prospects for 2024.
Barbara Bagley of Bank of America provided a comprehensive view of the current economic landscape. She highlighted low unemployment rates, a strong 3rd Quarter GDP, and the concept of "Revenge Spending." Bagley also discussed the increasing role of Generative AI across sectors, improved supply chains, and the impact of global conflicts, particularly in Israel. She remained optimistic about the U.S. economy, noting the decline in interest rates, the tech sector's performance, and Nasdaq's growth.
William Dolan of US Bank delved into inflation recovery and rising interest rates, touching on the leisure and hospitality industry, challenges faced by the younger workforce, and the impact of aging demographics. He also discussed money supply and its implications, lower consumer spending among lower-income individuals, and the increased use of credit. Dolan addressed California's population dynamics, housing crises, and their effects on mortgage rates. He also mentioned the NFIB Jobs Report and the influence of remote work on office spaces.
The Q&A session allowed attendees to engage with and seek further clarity from our speakers. The topics discussed included refinancing in California, the budget deficit's impact on bond prices and asset valuations, and the Federal Reserve's response to economic indicators and inflation trends.
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Track 1: Transportation/Energy | |
Panel 1: Burning Rubber: Transportation | |
From left to right: Greg Zwiep (San Fernando Transit Constructors), Keith Sibley (Bechtel), Sharon Gookin (Metro), Mark Chang (HNTB), Martha Valenzuela (Modern Times Inc.) | |
In this panel, moderated by Martha Valenzuela (Modern Times Inc.), panelists discussed transportation in Los Angeles, a city best known for its traffic, and the ways the city is continuing to grow its public transportation network and tackle its congested freeways.
Right now, in Los Angeles, there are a large number of transportation projects in the planning and construction stages. Although many people are excited about these projects, the timelines for them are extremely lengthy. Mark Chang (HNTB) provided some insight into these processes and shared some methods that can shave time off construction schedules and deliver these projects to Angelenos faster.
Even with the already existing forms of public transit, we still struggle to get people out of their cars in LA. Keith Sibley, a Program Manager with Bechtel, highlighted some important factors we must take into account when asking people to get out of cars and into transit, including the safety, cleanliness, affordability, and reliability. As new projects are built and come online, Sharon Gookin, Deputy CEO of Metro, echoed Sibley, and added that there must be consistency throughout the entire transportation network.
New projects are exciting, but Greg Zwiep (San Fernando Transit Constructors) emphasized that we also must take into account the disruption that construction causes. Zwiep has made sure to listen to the community and help any businesses disrupted by new projects, like the new light rail line coming to the East Valley.
This panel was sponsored by Bechtel and Metro and was part of the Transportation/Energy Track, sponsored by Southern California Edison.
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Panel 2: Energy: It's Gonna be a Scorcher Today | |
From left to right: Joshua Torres (Southern California Edison), Arash Saidi (LADWP), Assemblywoman Luz Rivas, Ben Oakley (WSPA), VICA Past Chair Coby King (High Point Strategies) | |
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In this panel, moderated by Coby King (High Point Strategies), experts across the energy industry shared insights for the future of energy in California and the best, and most realistic, ways to meet our energy needs.
On the government side of the energy conversation, California State Assemblywoman Luz Rivas shared that the state legislature has continued to set ambitious goals for California. Energy providers have been working hard over the years to help the state reach these goals. Joshua Torres (Southern California Edison) shared that between now and 2045, to reach state-set goals, everything within the energy sector, like production and transmission, will have to be tripled.
At a more local level, Arash Saidi shared that Los Angeles Department of Water & Power is working on restructuring itself internally and externally to meet the growing needs of Angelenos as the city moves further and further away from a reliance on natural gas. Still, Ben Oakley (Western States Petroleum Association) pointed out that no matter how hard the state and the city try, gas and petroleum are not going to disappear overnight. As gas prices continue to rise, the state must work towards a transition plan that includes keeping gas affordable to those who still need it.
This panel was sponsored by Los Angeles Department of Water and Power and Western States Petroleum Association and was part of the Transportation/Energy Track, sponsored by Southern California Edison.
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Track 2: Government Reform/Public Safety | |
Panel 1: Government Reform: City Hall Goes Up in Flames | |
From left to right: Rob Quan (Unrig LA), Matt Klink (California Strategies), Dr. Fernando Guerra (Loyola Marymount University), Kerry Cavanaugh (Los Angeles Times), Lisa Grtizner (LG Strategies) | |
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Moderated by past VICA Chair Lisa Gritzner (LG Strategies), this year’s Government Reform panel discussed some of the post pressing topics in Los Angeles City politics, such as two major scandals emerging out of city hall less than a year apart, concerns with a lack of transparency in city government, and calls for expanding the city council and shrinking the size of council districts.
The panel started by stating the obvious, that corruption has emerged as one of the biggest issues in Los Angeles city politics. Kerry Kavanaugh (Los Angeles Times) emphasized that the structure and size of city government creates a system where councilmembers hold way too much power, granting them almost complete control over what reforms get passed and implemented.
There are many different proposals on ways to address this imbalance of power. Rob Quan (Unrig LA) stated that we must start by increasing trust in local government through increasing transparency between city hall and the public. Other proposed reforms included charter reform, implementing independent redistricting commission, and a debate over council expansion.
Dr. Fernando Guerra (Loyola Marymount University) ended the conversation on a positive note, sharing Angelenos are some of the most optimistic about their community. Perhaps serious reform is in the not so distant future.
This panel was sponsored by California Strategies and was part of the Government Reform/Public Safety Track, sponsored by Los Angeles Police Protective League and Clear Channel Outdoor.
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Panel 2: Public Safety: in the Line of Fire | |
From left to right: HP Le (Verizon), Jonathan Hatami (Office of the Los Angeles County District Attorney) Craig Lally (LAPPL), Wendy Wu (Nardello & Co.) | |
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VICA’s public safety panel, moderated by Wendy Wu, Managing Director at Nardello & Co., addressed the growing rates of crime throughout the city, county, and country, and what steps we can take to do something about this and make Angelenos feel safe again.
Jonathan Hatami, a Deputy District Attorney in the LA County District Attorney’s office, set the baseline for the panel by sharing that throughout the county, businesses are facing an unprecedented number of undocumented crimes. As these crime rates continue to climb, Craig Lally (Los Angeles Police Protective League) explained that there simply are not enough police officers to tackle them. We have seen a decline in police officers nationally, forcing employed police officers to take on more responsibilities.
Despite these depressing numbers, HP Le (Verizon) shared that there is some hope in the realm of public safety, and that exists in many of the new and emerging technologies within this industry. Le showed off his robot dog – a prop that drew crowds before, during, and after the panel – but also shared that we have other new tools that can tackle crime in new, innovative ways, we just have to build the public’s trust in these new forms of technology.
Hatami closed out the panel by sharing that the DA may not be able to fix every issue in the community, but they can work to ensure that everyone gets what they deserve: to feel safe in the city they live in.
This panel was sponsored by Verizon and was part of the Government Reform/Public Safety Track, sponsored by Los Angeles Police Protective League and Clear Channel Outdoor.
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Track 3: Return to Work/Artificial Intelligence | |
Panel 1: Fireproofing the Market: How Has Return to Work Changed? | |
From Left to Right: Gary Saenger (Saenger Associates), Selina Thomas (6 Degrees HR Consulting), Jeffrey Cole (USC), Barry Cohn (JorgensenHR) | |
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Moderated by VICA Board Member Barry Cohn (JorgesenHR), the panel discussed the significant changes in the world of work in a post-pandemic era and how companies and organizations can develop a workforce that is is efficient and effective while maintaining flexibility, works best for the organization while providing flexibility for the new workforce.
Jeffrey Cole (University of Southern California) highlighted the impacts of digital communication, the internet, and COVID-19 on workplaces. He noted the tension between CEOs wanting in-office work and employees favoring remote options, along with the increased power of labor demonstrated by post-pandemic strikes. Selina Thomas (6 Degrees HR Consulting) emphasized the need for hybrid work arrangements to attract and retain talent. She discussed the challenge of retaining employees by offering fulfilling job experiences beyond just a paycheck. Gary Saenger (Saenger Associates) stressed the need for businesses to adapt to survive and prioritize a candidate's experience and communication during interviews.
The panel also explored mental health in the workplace, the feasibility of remote and hybrid work, flexible work hours, and the impact that different generations have on their workplace and their expectations from employers, are vastly different for a younger workforce compared to an older workforce. Panelists closed the discussion by discussing the declining number of university students and the impact this will have on future job capabilities and overall productivity with a growing gap between necessary skillset and knowledge for employment and opportunities.
This panel was sponsored by JorgensenHR and the University of Southern California and was part of the "Return to Work/Artificial Intelligence" Track, sponsored by Cowe Communications.
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Panel 2: A.I: Navigating the Flames of Change | |
From Left to Right: Jason Ernst (UCLA), Saurabh Mishra (Oracle), Jordan Orlick (LetzChat Inc.), Miri Rossitto (Cowe Communications), Ali Arsanjani (Google) | |
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VICA's AI panel, titled "AI: Navigating the Flames of Change," explored AI's profound impact across industries and its implications on the workplace and global community, while addressing its increasing integration into daily life. VICA Board Member Miri Rossitto, CEO of Cowe Communications, moderated the Google sponsored panel, part of the "Return to Work/Artificial Intelligence" Track, sponsored by Cowe Communications.
The panel focused on AI's significance in driving innovation, transforming operations, and its broad applications, from language models to medical research with an overarching theme focusing on AI's potential benefits to humanity and challenges posed to arise as it evolves.
Jordan Orlick (LetzChat Inc.) emphasized AI's role in enhancing productivity and customer experiences, while Saurabh Mishra (Oracle) highlighted its applications in forecasting, document analysis, and scenario prediction. Jason Ernst (UCLA) discussed AI's use in genomic data research at research universities, particularly in personalized healthcare, and Ali Arsanjani (Google) delved into AI's accessibility and creative yet uncertain nature in language development and composition. The discussion covered AI's core components, ethical implications, and data ownership, emphasizing the need for legislation, ethical guidelines, bias-checking tools, and collaboration among industry, developers, and legislators. The panelists also addressed educating the public about AI, starting with basic tasks and expanding to complex issues in personal lives and businesses.
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Track 4: Mental Health/Housing & Homelessness | |
Panel 1: Healthcare: Scorching the Stigmas on Mental Health | |
From Left to Right: Ajit Dodani (EmpathifyU); Megan Chiarelli (Providence); Chante Rogers; David Bond (Blue Shield California), Dr. Sandrine Pirard (Carelon Behavioral Health) | |
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VICA's mental health panel, moderated by EmpathifyU CEO Ajit Dodani, addressed the need to reduce stigma around mental health, promote empathy, and practice mindfulness for mental well-being. The panel provided a roadmap for breaking stigmas surrounding mental health and highlighted the critical intersection of mental health and healthcare. The discussion emphasized the importance of proactive measures and policy changes, particularly in response to crises.
Dr. Megan Chiarelli (Providence) discussed the shift in language and mindset around health concerns, including self-harm. Dr. Sandrine Pirard (Carelon Behavioral Health) stressed the connection between addiction and mental health, advocating for compassion and mental health education. David W. Bond (Blue Shield California) emphasized the importance of changing our perspective on those with mental health issues, and Chante Rogers, LMFT, underscored the significance of social-emotional learning, especially for children facing challenges. The discussion revealed the prevalence of people hiding their true emotions and wearing a façade of being "fine," particularly following the COVID-19 pandemic.
Kaiser Permanente sponsored the panel and was part of the "Mental Health/Housing & Homelessness" Track, sponsored by the Southland Regional Association of Realtors (SRAR).
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Panel 2: Hot Seat: Housing and Homelessness | |
From Left to Right: Senator Scott Wiener, Tanaz Golshan (Hope the Mission), Tim Campbell (CityWatchLA), Deputy Mayor of Housing Jenna Hornstock, VICA Vice Chair Jeff McConnell (EKA), Jan Perry (Strategic Partnerships Inc.) | |
Moderated by VICA Vice Chair Jeff McConnell (EKA), this panel focused on the housing and homelessness crisis in Los Angeles and California as a whole, with experts in the housing development and homeless services space coming together to discuss some of the barriers to dealing with each crisis concurrently, and the various intersections of collaboration between governments, residents, businesses, and service providers.
Deputy Mayor Jenna Hornstock (Office of Mayor Karen Bass) discussed the need for streamlining housing processes and the complexity of the city's housing crisis, focusing on affordability and supply-demand dynamics. Jan Perry (Strategic Partnerships) shared insights from her work transitioning individuals from the streets to stable housing through homeless centers, stressing the importance of city and county efforts.
Tim Campbell (CityWatchLA) emphasized data-driven decision-making for effective homeless program performance and funding allocation. California State Senator Scott Wiener advocated for removing zoning barriers to address California's housing crisis and regional efforts to streamline development projects. Tanaz Golshan (Hope the Mission) discussed a holistic approach to homelessness, emphasizing government collaboration, fundraising, and comprehensive support. The panel stressed collaboration among governments and nonprofits, better tracking services, mental health and addiction support, transparent resource allocation, and short-term housing solutions.
EKA sponsored this panel which was part of the "Mental Health/Housing & Homelessness" Track, sponsored by the Southland Regional Association of Realtors (SRAR).
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Keynote Speaker Pedro Pizarro, President and CEO of Edison International | |
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Following an exciting morning filled with informative and fascinating panel discussions, attendees settled down for lunch where they heard from this year’s Keynote Speaker, Pedro Pizarro, President & CEO of Edison International.
Pizarro opened his remarks by sharing his love for the culture of Los Angeles and the way the city, and more broadly the State of California, are embracing new, progressive environmental policies. He shared that looking towards the future, net zero emissions is doable for the economy, and Edison is putting in the work to help us reach that goal.
Over the course of 18 years, the energy industry has reduced emissions by 30 percent. This is an incredible feat, especially when you take into account the growing load that is being place on the electric grid. Pizarro shared that by 2025, we will see an 80% increase in the electrical load of California, largely due to the fact that almost all new infrastructure, including buildings and cars, are fueled by electricity.
To match this ever-growing electrical load, Edison is taking on bold new projects, like increasing the amount of rooftop solar throughout the state and implementing floating wind towers offshore. Still, Edison cannot make these changes alone. Pizarro commended the business community for their role in promoting clean energy and emphasized the need for everyone to chip in to help us reach our goals. Transitioning to clean energy is going to be hard, but “as costly as this is going to be,” Pizarro stated, “it is not going to be as costly as inaction.”
The Keynote Luncheon was sponsored by Sun Hill Properties/Hilton Universal City and US Bank.
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Tell VICA Your 2024 Legislative Priorities! | |
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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 will begin discussing next year's legislative priorities this month, and we want to know what you think will be important for 2024. Click the Notify Now button below to communicate your ideas to our Legislative Affairs team know your priorities!
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Local Officeholders Luncheon
November 9 | 11:30 AM
Skirball Cultural Center
Local Officeholders representing Los Angeles County, the City of Los Angeles, and other Valley cities join VICA and its members to discuss the pertinent issues facing businesses during the annual Local Officeholders event. Attendees have the opportunity to formally ask questions on a wide range of topics.
Thank you to our Presenting Sponsors Amazon, JPMorgan Chase, Comcast NBCUniversal, Los Angeles Department of Water & Power, SoCalGas, and Wells Fargo.
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Newsmaker Connection: From Deep Sea to Deep Space - How Boeing is Driving Innovation in California
November 13 | 12:00 PM
The VICA Office
Ever wonder what Boeing does in California? From autonomous air taxis and underwater vehicles to ensuring connectivity to billions around the world - learn how Boeing and the Aerospace and Defense industry are driving global innovation in California.
Thank you to our Presenting Sponsor State Farm.
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VICA After Dark: Evening with Senator Caroline Menjivar and Assemblymember Pilar Schiavo
November 28 | 5:30 PM
Location TBA
Join us for an evening with freshman legislatures, Senator Caroline Menjivar and Assemblywoman Pilar Schiavo, as they discuss their experiences in their first year in Sacramento and some of the issues that they seek to address as representatives of their communities and the greater Los Angeles region.
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Non-Profit Committee
Thursday, November 8
8:30 - 10:00 AM
Sponsored by Pacific Federal
RSVP
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VICA Thanks Our New and Renewing Members! | |
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Renewing Members:
New Members:
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California's Taxation Battleground: ACA 1 and ACA 13 Undermining Taxpayer Protections
Business Life | October 27
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Mike Johnson Becomes Speaker
After three weeks without a speaker, the House voted Wednesday to elect Rep. Mike Johnson of Louisiana, who secured the gavel without losing any GOP votes. The final tally was 220 for Johnson and 209 for Minority Leader Hakeem Jeffries. The Louisiana Republican was first elected to the House in 2016 and serves as Vice Chairman of the House Republican Conference, as well as a GOP deputy whip. An attorney with a focus on constitutional law, Johnson joined House Republicans in voting to sustain the objection to electoral votes on January 6.
Poverty Rises in Southern California
The economy is churning out mixed signals with a flurry of separate reports suggesting America is experiencing high growth and job creation - and rising poverty. A recent report from the Public Policy Institute of California concluded that from late 2021 through the first quarter of 2023, the state poverty rate, including people of all ages and demographic profiles, jumped from 11.7% to 13.2%. Though California's new poverty rate is well below the pre-pandemic rate (16.4% in 2019), economists suggest the upturn in the report is troubling.
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Mike Pence Suspends Campaign
Former Vice President Mike Pence ended his campaign to become the 2024 GOP nominee to a standing ovation Saturday at the Republican Jewish Coalition in Las Vegas. Pence had struggled to gain traction in the race since entering the presidential fray, lagging in fundraising and languishing in polls. Pence is the most high-profile candidate to drop out, proving how hard it is for any Republican to break publicly with former President Donald Trump amid the crowded field. His announcement comes shortly before the third presidential debate on November 7.
GM-UAW Has Tentative Agreement
General Motors reached a tentative agreement with the United Auto Workers union, according to people familiar with the matter, bringing an end to a 6-week strike that had upended U.S. automobile production and cost the industry billions of dollars. The pact's terms are similar to the deals signed earlier by Ford Motor Co. and Stellantis, NV, including a 25% hourly pay raise plus cost-of-living allowances over the four-year contract. While the economic terms are similar to GM rivals, it isn't clear what the entire benefits package will be.
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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 yoko@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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