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  • VICA In The News: October 2019

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    Public Banks Can Be Formed in California as Newsom Signs New Law
    October 2
    A ballot measure last fall that sought to establish public banks in Los Angeles was defeated by the city's voters. "We don't think the government should be in the business of banking," said Stuart Waldman, president of the Valley Industry & Commerce Assn., a business advocacy group in the San Fernando Valley that opposed the bill Newsom signed into law Wednesday. "When you look at government programs, be it the DMV or L.A.'s recycling program, the last thing we want is to hand over banks to public employees."
     
    New Housing Bill May Spur Valley Development
    October 9
    AB 1560 faced pushback from some residents worried that development in their neighborhoods will increase, creating noise and more traffic buildups. A major proponent of the bill, though, was the Valley Industry and Commerce Association.
    "VICA has seen an opportunity to bring more homes to the Valley by building along transit, especially along L.A. Metro's Orange line," said VICA President Stuart Waldman in a statement. "AB 1560 will allow the Valley to maximize housing along bus rapid transit lines and optimize the investments we're making in our transit system."
     
    Throwaway Sector?
    October 14
    A regulatory double whammy has hit scrap metal recyclers in California, causing some to go out of business and others to contemplate future closure.
    First, there is a drop in the price metals, which is partially the result of tariffs imposed by the federal government in its trade dispute with China, as well as lower demand both domestically and overseas.
    Next are proposed regulations by the California Department of Toxic Substances Control that Valley recycling company owners said could cause them to go out of business.  The regulations, still in draft form, would place new rules on the use of chemicals used to treat scrap metal waste before it gets sent to landfills. Elizabeth Hawley, director of legislative affairs at VICA, said the Van Nuys advocacy group has been talking with area legislators about the changes and emphasized that if California becomes too onerous with metal recycling, then the material may be shipped out of state where it might end up in landfills.
     
    Valley Forecast Panel: To Stave Off Recession, Tackle the Housing Crisis and Job-Wage Gap
    October 25
    Economic creativity is busting out all over.  Only a genuine disruption could divert those promising trendlines. But what's looming out there? You got it - lots of possible disruptors.  Such perils are not hiding in the shadows, they're the game-changers we worry about daily, such as trade uncertainty, the housing crisis and erratic growth in some personal-income categories.  That was the consensus struck by a team of economists who delivered an upbeat-but-cautious projection - steeped in real-world caveats - during the Friday, Oct. 25 business forecast titled "20/20 Vision Required," at the 31st Annual Valley Industry & Commerce Association Business Forecast Conference at the Hilton Universal City.
     
    OCTOBER MEDIA MENTIONS
    2
    L.A. Times
    4 Business Life VICA's Business Forecast Conference
    4 The Guardian
    4 Citizen Truth Public Banking Begins in California as Newsom Signs New Law
    8 California City News New Law Will Allow Cities and Counties to Create Public Banks
    9 SFVBJ New Housing Bill May Spur Valley Development
    11 L.A. Times Public Bank is Back on the Table in L.A. After Voters Rejected the Idea
    11 Los Angeles Daily News As Saddleridge Fire Burns, San Fernando Valley Residents Seek Refuge in Local Businesses
    14 SFVBJ Throwaway Sector?
    23
    PR
    24 Streets Blog L.A. Metro Board OKs Moving Forward with North Valley Bus Rapid Transit Studies
    25 SFVBJ Economists Forecast Solid But Softening 2020 at VICA Conference
    25 Los Angeles Daily News Valley Forecast Panel: To Stave Off Recession, Tackle the Housing Crisis and Job-Wage Gap
    28 SFVBJ New Rent Law Dents Buildings
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