MOST BUSINESS-FRIENDLY in This Issue: City National Bank and Toyota Receive 2006 Eddy Awards • 2006 Eddy Awards Coverage & Photos

Home , Richard Riordan

EL SEGUNDO: MOST BUSINESS-FRIENDLY In This Issue: City National Bank and Toyota receive 2006 Eddy Awards • 2006 Eddy Awards Coverage & Photos

• Change in LAEDC Governance

• Business Assistance Mid-Year Report

• International Update

• Transportation Update

For full coverage and photo highlights, turn to page 6 C-17 PRODUCTION LINE CONTINUES Region’s Red Team enlisted support from Governor, US President

Take a Look Into On September 29, President this national asset and proven Congress and President Bush to George W. Bush signed a workhorse for military and save the thousands of jobs at the THE FUTURE Defense Appropriations Bill, humanitarian missions. manufacturing plant in Long of Our Economy allowing $4.4 billion in funding Beach by continuing to fund the for the C-17 program. The bill The Red Team hopes to capital- C-17 program. saves 5,500 direct jobs at the ize on the effort's momentum to Boeing plant in Long Beach extend the life of the C-17 pro- Addressing the Boeing employ- 2007-2008 through the end of 2009. duction line even further. With ees, the Governor said, “We have 64 more planes, the production all been fighting for this for years. ECONOMIC The fight to save the C-17 pro- line could be extended until We have been working overtime duction line has indeed been a 2011. to keep all of you working...I FORECAST tough road since 2005, making joined with other governors to the signing of the bill a real victo- In March, the Australian govern- push for continued production of ry for the C-17 Program Red ment placed an order for four C- the incredible aircraft. And &INDUSTRY Team. The Red Team consists of 17s to meet its demand for airlift because of that work and the officials from the City of Long capability. The purchase amazing job you do here, it looks OUTLOOK Beach, Boeing, LAEDC, local utili- breathed life and hope into the C- like Long Beach is going to con- ties, and regional and state gov- 17 production line. tinue building the C-17.” February 21, 2007 ernment including the office of Governor Arnold Schwarzenegger. A few days prior to the Defense Saving the C-17 and follow-on Los Angeles The Red Team has worked to cut Appropriation Bill signing on work is a county-wide priority. Marriott Downtown costs for Boeing’s Long Beach September 26, Governor LAEDC President & CEO Bill Allen facility with the goal of maintain- Schwarzenegger hosted a cele- declared such a priority to the Find out more on page 3 ing C-17 production at Boeing's bration at Boeing and joined its Long Beach plant and preserve employees and suppliers to urge (Continued on page 4) Page 2 LAEDC Business Leader, Winter 2006/2007

WTCA Gives Boost to Villaraigosa’s Delegation in China Los Angeles Mayor officiates at ceremony to establish new office of TEDA in LA

World Trade Center Association Los Angeles - Office from the Bay Area to Los Angeles. Long Beach President and CEO Steve Harper represented the WTCA and LAEDC in China dur- TEDA is a special economic zone in the Port City ing the first-ever visit to Asia by Los Angeles of Tianjin, the largest commercial city in north Mayor Antonio Villaraigosa in October. During China and a special target for rapid economic the 2-week mission, the Villaraigosa delegation growth during China's 11th Five Year Plan. promoted Los Angeles in Beijing, Shanghai, Relocation of the TEDA office will take place in Hong Kong and Guangzhou before proceeding the first quarter of 2007. The office will help to Korea and Japan. Southern California businesses to access opportunities in the dynamic Tianjin economy, and The WTCA called upon two of its strategic part- also serve as a conduit for the attraction of nerships in China to assist the Mayor in promot- Left to right: LA Business Journal Publisher & Tianjin businesses to LA. ing Los Angeles and advancing his agenda. President Matt Toledo, WTCA President & CEO Through its partnership with the Beijing State- Steve Harper, Los Angeles Mayor Antonio Mayor Villaraigosa broke from his delegation Owned Assets Management Corporation (the Villaraigosa, Vice Mayor of Tianjin Pi Qian Sheng, in Beijing to attend the signing ceremony in Beijing municipal agency which owns the 2008 and Vice Chairman of TEDA Ni Xiang Yu. Tianjin and to act as official witness to the Olympic Stadium), the WTCA was able to assist agreement between the WTCA and TEDA. the Mayor in his effort to strengthen cooperation access to the interior of the Olympic Stadium, Matt Toledo, Publisher and President of the between the cities of Beijing and Los Angeles as which had its topping-out ceremony two weeks Los Angeles Business Journal and former Beijing prepares to host the 2008 Olympics and prior to the Mayor's visit. Chairman of the LAEDC, was also present and LA prepares its bid to become host city for the described the TEDA commitment as “…a 2016 Games. The WTCA scored additional points for LA and huge opportunity for Los Angeles and an the Mayor by inking the second phase of a impressive contribution of the WTCA to Mayor Setting the tone in China for the Mayor’s trip, the strategic partnership with the Administrative Villaraigosa's mission.” The relationship WTCA also arranged for the Mayor and his dele- Commission of the Tianjin Economic between TEDA, the WTCA and LAEDC was ini- gation to become the first outside group allowed Development Area (TEDA) through which TEDA tiated in September of 2005. has agreed to relocate its Western Regional U.S. Allen Named to Los Angeles Economy and Jobs Committee LAEDC President & CEO joins business leaders in exploring options to enhance city’s jobs

LAEDC President and CEO Bill Allen has been •Recommend a detailed action plan to appointed by Los Angeles Mayor Antonio support the Mayor’s efforts to attract, Villaraigosa to serve on a committee to help retain and grow companies encourage the economic development needed to create quality jobs for the city’s growing •Provide specific recommendations to population. aid in the effective acquisition of the state and national funding to support the infra- “I am honored to have the opportunity to structure necessary to improve and sus- serve on this important committee,” said jobs in LA to support the growth of a vibrant tain a secure, livable, business-friendly Allen. “I congratulate the Mayor on his deci- middle class. environment sion to establish it. The City of Los Angeles has unfortunately lagged the rest of the Although LA leads the nation in start-up busi- The committee will be chaired by this year’s County in job creation and retention over the nesses, many high-profile companies once Eddy Award winner Russell Goldsmith, past 25 years. This committee will play an based in the LA area have moved or been Chairman and CEO of City National Bank. The important role in helping the Mayor develop acquired over the past 20 years. This has had 28-member committee include prominent and implement an economic development a significant negative impact on employment, business leaders and other Eddy Award win- strategy to turn that around.” tax revenue and infrastructure in the city ners Monica Lozano, Publisher of La Opinion newspaper; Dr. Steven B. Sample, President A vibrant and growing economy that provides The Mayor created the committee comprised of the University of Southern California; and good jobs and growing tax revenue is vital to of private and public sector leaders to: Tim Leiweke, President of AEG, as well as both to the quality of life and the quality of LAEDC Board member Frank Clark of LAXTEC services city government can provide in LA. •Evaluate the city’s current business and former LAEDC Chair David Fleming of There is a need for substantially more good attraction and retention efforts Latham & Watkins. LAEDC Business Leader, Winter 2006/2007 Page 3

Look Into the Future: 2007-2008 Economic Forecast Jack Kyser and a panel of experts to discuss LA regional economy in February 2007

Housing. Film. Financial markets. LA County. features an expert panel of speakers who will your company will receive exposure in nearly What's next for the region more than 10 mil- present on our housing, financial, and enter- $50,000 of advertising in our region’s top lion people call home? These are the topics tainment markets as well as on the overall newspapers including the Los Angeles Times, that the LAEDC will address at its annual direction of our regional economy. LA County Los Angeles Daily News, Los Angeles Economic Forecast and Industry Outlook on alone is the 17th largest economy in the Downtown News and Apartment Magazine. Wednesday, February 21, 2007. The event world. The LAEDC Economic Forecast is broadly cov- will be held at the Los Angeles Marriott ered by the print, radio and television media, Downtown and is annually attended by more “Our economic research information allows including several major international publica- than 400 of the region's business, govern- public and private organizations to make tions, and is televised on local cable channel ment and civic leaders. informed decisions about their operations,” 36. said LAEDC Chief Economist Jack Kyser. “We The LAEDC has been providing in-depth make every effort to provide timely, accurate For information on sponsorship opportuni- analysis on the Southern California region for data, with a good seasoning of the real ties, please contact Nhien Barros at (213) more than 15 years. Our economic research world.” 236-4816. reports are widely used by media, government and private industry organizations and We are also pleased to offer our readers an For event information and registration, please have been ranked #1 by the Wall Street opportunity to receive tremendous visibility visit www.laedc.org/forecast or call Oakley Journal. This year's economic forecast event as an event sponsor. As an event sponsor, Boren at (213) 236-4847. 2007-2008 ECONOMIC FORECAST & INDUSTRY OUTLOOK Wednesday, February 21, 2007 • Los Angeles Marriott Downtown 7:30 a.m. Breakfast & Networking • 8:00 a.m. - 10:00 a.m. Program

JACK KYSER LAEDC • LESLIE APPLETON-YOUNG California Association of Realtors RICHARD WEISS City National Bank • STEVE MACDONALD FilmLA Inc. Complimentary to LAEDC Members. Special rate available for one guest. Early Bird Rate Available for General Public until January 31

Sponsors to date

Media Partners to date Page 4 LAEDC Business Leader, Winter 2006/2007

BAP Continues Momentum into 3rd Quarter At mid-year, LAEDC Business Assistance Program helps retain, attract, and expand 8,916 jobs

Continuing on a successful 1st job creation opportunities. The acres. These site searches Quarter, the LAEDC’s Business BAP team opened 74 new proj- resulted in exposure of 350 At press Assistance Program finished the ects, representing 10,240 jobs. industrial and office properties. time, we first half of the program year These jobs represent about 25% “The BAP continues the trend of received the (April through September) at of BAP’s total project load. This successful project and job wins news that 99% of its mid-year goal of is significant because the region- in an economy that has its chal- our Vice 9,000 jobs. al managers are working on lenges,” noted Greg Whitney, President, more recent projects which have LAEDC Vice President, Business Business In six months, our regional man- a greater propensity to be suc- Development. Development agers have successfully complet- cessful. Greg Whitney, will be leaving ed 63 projects representing “With a full complement of the LAEDC at year end to 8,916 direct jobs (actual jobs BAP team members also provid- regional managers and new move closer to his home in retained, attracted or created, ed technical-assistance (TAs) to avenues of business outreach Palm Springs and to become not the result of any multiplier over 200 businesses represent- coupled with all the positive the newly created Vice formulas). The estimated eco- ing over 15,000 employees in media attention that the LAEDC President, Operations, at the nomic impact from the annual various regions of Los Angeles is receiving, we are confident Coachella Valley Economic salaries of these jobs is $416 County. These TA activities that we will reach our 18,000 job Partnership. million with an estimated tax rev- included general business con- goal for this fiscal year.” enue contribution to Los Angeles sulting in the areas of permit- During his 8 years of service County of over $6.9 million. ting, licensing, hiring, training, Since 1996, the BAP team has at the LAEDC, Greg has been incentives, marketing and pro- helped attract, retain and involved with projects which For August, the team came in at motional tactics as well as refer- expand 862 businesses which saved 112,152 jobs con- 123% (1,840 jobs) of their rals to other regional business resulted in over 124,000 jobs, tributing to the region $4.7 monthly goal of 1,500 jobs. The assistance providers. $5.2 billion in direct economic billion in annual wages and team closed September at 150% impact (annual wages in current $81.1 million in annual tax (2,250 jobs) of their monthly BAP’s real estate site search pro- dollars) and an estimated $97 revenue for local government. goal. gram also conducted 48 inde- million in local tax revenue con- pendent client site searches with tributions (annual in current dol- Congratulations, Greg! We will miss you! The first half also saw success in a combined requirement of over lars) to Los Angeles County. opening new projects with new 1,541,000 square feet and 97

C-17 UPDATE Barbara Levine. Additional sup- (Continued from page 1) port came from LAEDC Board members as well. City of Long Beach City Council in January. This declaration was On October 12, Boeing opened reaffirmed at LAEDC Board meet- its facility to the LAEDC when ings and Business Assistance Dave Bowman, Boeing C-17 Program meetings. Many region- Program Manager, and Bob al economic development organi- Ciesla, C-17 Follow-on Program zations were recruited by the Manager, hosted a special C-17 LAEDC to send letters of support tour and presentation for LAEDC to their elected officials. Directors and Members. Boeing and top state and local officials The effort to save the C-17 pro- have publicly thanked the LAEDC gram and emphasize its for its leadership and contribu- statewide economic develop- tions to saving the Program. ment impact was made public through a media campaign by Barbara Levine reports on the Allen, LAEDC Senior Vice activities and updates of the President and Chief Economist effort to keep C-17 production Governor Arnold Schwarzenegger addresses Boeing employees at Jack Kyser, Vice President, going. Contact Barbara at the C-17 manufacturing plant in Long Beach. Also on stage, from Business Development Greg [email protected] or call (310) left, Long Beach Mayor Bob Foster, Boeing Vice President and C-17 Program Manager David Bowman and California Secretary of State Whitney and Gateway Cities 466-5197. Bruce McPherson. Photo courtesy of the City of Long Beach. Senior Regional Manager LAEDC Business Leader, Winter 2006/2007 Page 5 CALIFORNIACALIFORNIA ONON THETHE MOVEMOVE Southern California Leadership Council focuses their efforts on transportation and logistics issues

With the strong support of its 25 regional boom in Pacific Rim trade that funnels business leaders and four former California through Southern California ports threaten to Governors, the Southern California bring traffic and commerce to a standstill if Leadership Council (SCLC) and its Goods we don't act.” Movement Initiative achieved many major milestones in 2006. The SCLC has helped The advertorial noted that the growth in glob- create a united voice for business leadership al trade brings with it potentially millions of throughout Southern California, and that high-wage jobs for skilled trades people in voice has been widely heard in the past few California. Much of the trade-related growth months. is located in California’s inland communities where affordable housing and an improving Under the leadership of 2006 Co-chairs Ray job market are combining to boost first-time Holdsworth, Vice Chairman, AECOM, and Bob homeownership for hundreds of thousands of Wolf, CEO, Germania Corp., the SCLC has the key issues of transportation and infra- families. “If we act now California can great- become a recognized expert and advisor on structure contributed to the passing of ly benefit from the projected growth and we Goods Movement to the Governor's Office, Propositions 1A and 1B by California voters in can channel the activity to power a new gen- the Senate Transportation Committee, the November. Also in November, the SCLC pub- eration of economic prosperity.” California Transportation Commission, and lished an advertorial which ran in LA the Business, Transportation and Housing Newspaper Group publications in Southern With the growing importance of transporta- Agency, as well as a media source of informa- California. The SCLC emphasized to the vot- tion and infrastructure, the logistics industry tion and perspective on goods movement and ers that they have an unprecedented oppor- inevitably will grow along with it. To provide transportation solutions in Southern tunity to impact the future of California’s the qualified workforce to support the poten- California. The SCLC’s strategy, to offer economy, environment, and mobility. tial growth of the industry, the SCLC part- expertise and leadership to educate rather nered with the LAEDC and the Chancellors of than advocate is best portrayed on KABC Talk An excerpt from the advertorial stated, “The the California Community Colleges and State Radio's “Our Backyard” series featuring the reason we should consider it is to protect our Universities to create the California former Governors and key business leaders exceptional quality-of-life, unparalleled eco- Transportation and Logistics Institute (CATLI). who serve on the Council. nomic opportunity, and world-renowned envi- Read more about CATLI in the article below. ronmental splendor. The reason we must con- Their part in educating the public regarding sider it is that a fast-growing population and a Visit SCLC online at www.laedc.org/sclc or call Lee Harrington at (213) 236-4810.

California Transportation and Logistics Institute (CATLI) Logistics has become a strategically impor- industry. Together with LAEDC President & On October 9, Holdsworth and Allen joined tant industry in Southern California; howev- CEO Bill Allen, they presented the CATLI con- Victoria Bradshaw, Secretary for the er, there is a short supply of skilled workers cept in June to the Chancellors of the California Labor & Workforce Development emerging to fill the increasing number of California State University system and the Agency, Mark Drummond, Chancellor, high paying jobs in this sector of our econo- California Community Colleges, who imme- California Community Colleges, and Jose my. That is why the LAEDC and the SCLC diately agreed to form a partnership to Millan, Vice Chancellor, California decided to form CATLI. develop the institute. Community Colleges in announcing the partnership. The press conference at Cal More than 400,000 jobs in transportation CATLI’s mission is to promote growth in Poly Pomona was attended by more than and logistics currently exist in California careers in logistics by working with industry 100 members of the media and business today. This sector is expected to grow in this and educational institutions to offer appro- and education community. region by 348,479 jobs by 2030, about 12 priate programs by: working with employers percent of the total new jobs in the area. In to continuously identify and meet industry On December 11, the US Department of Los Angeles County, most entry level jobs in workforce and training needs; working with Labor awarded CATLI’s partner, the this sector provide workers with a livable public stakeholders to align public interest California Community Colleges System wage and an opportunity for advancement. with industry demands; and serving as an Office, a grant of $1.99 million to help information clearing house for careers and establish the Institute. The concept of the institute was conceived educational opportunities related to trans- by SCLC Co-chair Ray Holdsworth to pro- portation and logistics industries. For more information, please email mote the growth of careers in this critical [email protected], call (213) 622-4300. Page 6 LAEDC Business Leader, Winter 2006/2007

AnE vening ofC elebration An unforgettable evening honoring Toyota, City National Bank, and City of El Segundo

Left: Russell Goldsmith, Chairman and CEO, City National Bank. Center: LAEDC President & CEO Bill Allen, City of El Segundo Mayor Kelly McDowell, and LAEDC Chairman and Bank of America Executive Vice President Rod Banks. Right: Irving Miller, Group Vice President, Corporate Communications, Toyota.

Approximately 700 guests filled the Los In good humor, Banks joked that it was simi- Angeles Ballroom at the Century Plaza Hotel lar to “Coke presenting an award to Pepsi.” on October 5 to celebrate LAEDC’s 25th anniversary at the 2006 Eddy Awards, which City National Bank has been helping entre- honored two exemplary businesses, City preneurs and key industries on the way up for National Bank and Toyota. Russell more than 50 years. They also believe in rein- Goldsmith, Chairman and CEO, accepted the vesting in the communities in which they live Eddy on behalf of City National Bank, while to ensure the economic prosperity for all peo- Irv Miller, Group Vice President, accepted on ple. behalf of Toyota. And, finally, LAEDC President and CEO Bill The annual Eddy Awards gala is the region’s Allen introduced the five finalists for the most prestigious recognition of business LAEDC’s newest award, the Most Business- leadership in economic development. The Friendly City--Burbank, El Segundo, event was attended by top leaders in the Lancaster, Long Beach and Santa Clarita. business, government and civic sectors and When the winner was finally announced, the raised $600,000, beating all previous fund audience erupted in cheers and excitement raising records. The gala was hosted by as El Segundo was named the 2006 Most NBC’s newscaster, Fritz Coleman, who Business-Friendly City in LA County! (To read infused the evening with his wit and charm. more about El Segundo, please see page 7.) sented the evening's first Eddy to Irv Miller The evening began with a cocktail reception who accepted the award for Toyota. The This year's Eddy Awards truly celebrated the and silent auction. Up for bid were goods opening of Toyota’s first dealership in 1957 successes and great diversity of business in that included luxurious spa packages, airfare paved the way for the international automo- Los Angeles County. Our region boasts a vari- to exotic destinations, suites at the Staples bile trend to follow Toyota to Southern ety of companies ranging from auto makers Center, golf getaway packages and the best California and helped establish our region as to financial institutions, and from start-up wine you can find west of the Rockies! the “car culture capital” of the world. Toyota businesses to Fortune 500 firms. Just as the celebrates its 50th Anniversary in Southern region has grown, so have the breadth and Rod Banks, LAEDC Chairman and Bank of California in 2007. impact of the LAEDC’s programs and servic- America Executive Vice President, welcomed es. Over the past 25 years, our organization the guests, and then introduced a tribute Despite the fact that Bank of America and has evolved to support these growing busi- video that highlighted the LAEDC's accom- City National Bank are competitors in the nesses. As we look toward the future, we plishments over the past 25 years. marketplace, Rod Banks graciously present- continue to remain steadfast in our core mis- ed the Eddy to Russell Goldsmith, who elo- sion to attract, retain and grow jobs in Los Eddy Host Committee Chair Ken Trevett pre- quently accepted the award on behalf of CNB. Angeles County. LAEDC Business Leader, Winter 2006/2007 Page 7

ElEl SegundoSegundoLos Angeles County’s Most Business Friendly City

The City of El Segundo has the highest con- with Aerospace Corporation on $60 billion in included Burbank, Lancaster, Long Beach centration of Fortune 500 firms of any city in contracts, creating over 50,000 jobs. and Santa Clarita) from the 88 cities of LA Los Angeles County, a remarkable feat for a Chevron-Texaco, which founded the city near- County for its commitment to attracting and small beach city just over five square miles in ly 90 years ago, runs the largest oil refinery retaining high quality jobs for its residents size. El Segundo boasts a ratio of one busi- on the West Coast. and the region. ness license for every three residents, and their average time to process a license is less “We are thrilled to be the first city LAEDC has “The Most Business-Friendly City Award is than twenty four hours. Their proximity to LAX honored with this award,” said El Segundo important because it directs attention to the and major freeways, and their policies to Mayor Kelly McDowell. “We have always best example in our County of how to create recruit and retain businesses are a signifi- believed that the El Segundo community sets an environment in which 21st century busi- cant factor in the economic success of the standards of excellence in service and quality nesses can thrive,” said LAEDC President and city. The city also has some of the lowest util- of life that are second to none. And special CEO, Bill Allen. ity and transient occupancy tax rates in the recognition to my council colleagues, our city County. staff and the people who live and work here, A more business-friendly climate in each of who transform our vision into reality every our local cities will be needed to ensure that As a result, El Segundo is where 85,000 peo- day.” LA County meets its growing population’s ple work for many of the nation's best compa- need for an array of good jobs that contribute nies. Computer Sciences, Continental El Segundo was selected by the LAEDC’s to the economic well being of the region and Development Corp., DirecTV Group, and blue-ribbon panel of judges, comprised of provide the personal income (and municipal Mattel all make their headquarters in El regional economic development leaders from tax base) that sustains the quality of life for Segundo. The LA Air Force Base partners a distinguished list of five finalists (which also all Angelenos.

THE LAEDC WOULD LIKE TO THANK THE SPONSORS OF THE 2006 EDDY AWARDS K Diamond J K Platinum J

K Gold J

K Silver J Foley & Lardner • Housing Authority of the City of Los Angeles • KPMG Los Angeles Biomedical Research Institute • Los Angeles Business Journal Mayer Brown Rowe & Maw • Northrop Grumman • Paramount Pictures Pacific Coast Capital Partners • Port of Long Beach • PricewaterhouseCoopers Sidley Austin • Southern California Gas Company • Watson Land Company

K Bronze J AT&T • Automobile Club of Southern California • Bain & Company • Blue Cross of California • Boeing • Bolton & Company • Chevron/Texaco Comstock, Crosser & Associates • Community Bank • Continental Development Corporation • DLA Piper Rudnick Gray Cary • EastWest Bank El Segundo Chamber of Commerce • Greenberg Traurig • Grubb & Ellis • LA Inc. • City of Lancaster • Latham & Watkins Los Angeles World Airports • Manatt Phelps Phillips • Mar Ventures • NRG • Robert Half International • State Farm Insurance Shamrock Holdings • Thomas Properties • US Bank • University of Southern California • Wells Fargo • White & Case Page 8 LAEDC Business Leader, Winter 2006/2007

An Evening in Photos: Highlights from the 2006 Eddy Awards

Bill Allen with Eddy Award recipients Irv Miller LA Business Journal Publisher Matt Toledo with Lancaster Mayor Henry Hearns, Chrissy Carney (Toyota) and Russell Goldsmith (City National Bank). Susan Banks and LAEDC Chairman Rod Banks. and Burbank Mayor Todd Campbell.

Rhonda Guy, Nav Dabney, Yolande Howard Smith, Los Angeles Times Publisher David Hiller and Kim Michael Myer, Maxene Johnston and Steve Nissen David Gilkey and Deirdre Dix (front) of ACT•1. McCleary-La France. of Manatt, Phelps & Phillips.

Bank of America’s Raphael Henderson and Barry Hibbard, Lee Harrington, Casey Hibbard, Raul and Julie Marquez with Mary Kay and Les HSBC’s Lucy Viado. Richard Hollingsworth and Marianne Venieris. Goodwin of Union Bank of California.

Becki Ames, State Controller-Elect John Chiang and Larry Kosmont of Kosmont Companies and his Jim Negus (back row, right) and KPMG group. Long Beach Harbor Commissioner Jim Hankla. wife Loren. LAEDC Business Leader, Winter 2006/2007 Page 9

GOVERNANCE REFORM AT THE LAEDC Board and Members approve new Structure and Bylaws

The LAEDC has a new governance structure. potential reform, and conduct research both Angeles County, and to delegate to the small- After a six month review by a special task internally and externally to help them develop er Executive Committee both the responsibili- force of the Board, a fully amended and recommendations to take back to the Board. ty and liability of serving as directors of the restated set of Bylaws for the corporation was Internal research included reviews of past corporation under the law. The Board of submitted to the full membership for their member surveys, meetings with individual Governors will have oversight of mission relat- approval in November. More than 75% of the members and the Business Services Network ed committees on infrastructure, industrial voting members of the corporation returned committee of the board. Two focus groups land use and international trade, for example. mail ballots, all cast in favor of approving the were conducted on the subject and all mem- The Executive Committee, which will retain new bylaws and governance structure. bers were invited to participate. Past bylaws that title, will have oversight of the compli- were reviewed with LAEDC legal counsel, and ance related committees such as audit, com- Given that several years had passed since regular reports were made to the Executive pensation, finance, and legal which should the last formal review of our bylaws, our new Committee of the Board for their input as the logically report to them as the new legal direc- President and CEO Bill Allen was tasked by process developed. External research includ- tors of the corporation. the Executive Committee of the Board in early ed review of published literature on good gov- 2006 to organize a Governance Review Task ernance practices in the non-profit world, A reform plan incorporating these changes Force to be made up of senior staff including research on the structure of peer organiza- was submitted to the Executive Committee Allen, CFO Susan Stel, Senior Vice President tions, and attendance by our CEO at a semi- and the full Board in October, along with a Investor Relations Steve Harper, Vice nar on good governance at the International fully amended and restated set of corporate President Investor Relations Amy Grat, and Economic Development Council annual con- bylaws. Both bodies unanimously approved of board members Eric Rowen, Steve Nissen, ference. the new governance structure and bylaws, and Scott Somers. The task force was and recommended them to the full member- charged with reviewing the LAEDC gover- Through the process it became apparent that ship for approval, which was received in nance structure and practices as well as the the recent success of the LAEDC in attracting November. Congratulations to the members corporate bylaws to see if they were in con- and electing more than 150 members to its of the task force for their successful efforts to formity with each other and optimally Board of Directors had created a situation in better organize the LAEDC for success in the designed to facilitate the efficient and effec- which it was becoming difficult to effectively years to come, and special thanks to Steve tive implementation of our public benefit mis- govern the affairs of the corporation itself Nissen of Manatt, Phelps & Phillips for his sion. with such a large body of directors. It was early input and guidance on the need and determined that it would be better for that direction for this reform, and to Eric Rowen of Over the summer the task force met several larger body to have the title of Board of Greenburg Traurig for his tireless help in times to identify relevant issues needing Governors and focus on the development and drafting the amendments to the corporate attention regarding the governance structure guidance of our strategic initiatives and poli- bylaws to reflect the new structure adopted at that time, establish guiding principles for cy positions for economic development in Los by the LAEDC. Business Connections in the Sun Business Services Network hosted yet another successful Summer Mixer in August

On August 22, more than 50 LAEDC mem- America. Among the special guests that BSN is an LAEDC program designed to help bers, key staff and invited guests gathered on evening were Congressman Adam Schiff and connect members with each other and the the California Club Patio for the Business Tony Eggs, Chief Real Estate Officer for British larger business community, in support of Services Network Summer Mixer, hosted by retailer TESCO, which recently opened its US LAEDC’s mission to attract, grow and retain LAEDC Chairman Rod Banks and Bank of headquarters in El Segundo. jobs in LA County.

Scott Somers (Windale Group), Dan McMillan David Abel (ABL Inc.), Congressman Adam Schiff, Maura O’Connor (McKenna, Long & Aldridge), Tony (Jones Day) and LAEDC Chairman Rod Banks. Bill Allen and Steve Harper. Eggs (TESCO), and Vito Costanzo (Holland & Knight). Page 10 LAEDC Business Leader, Winter 2006/2007

Membership Update Welcome new board and executive committee members and new member companies

NEW EXECUTIVE COMMITTEE Darin Meadows 8:00 - 9:30 a.m. with networking FEATURED EVENT MEMBERS Region Manager breakfast starting at 7:30 a.m. Kelly Services Leland Dolley •January 17 JANUARY 25, 2007 Attorney at Law Mark Sadovnick •February 21 - 2007-2008 Los Angeles Area Chamber Burke Williams & Sorensen, LLP. Partner Economic Forecast at the Los of Commerce 118th Annual Steven Douglas Associates Angeles Marriott Downtown Inaugural Dinner Frank Newman (See page 3 for more infor- 6:00 p.m. - 10:00 p.m. at the Chief Operating Officer David E. Wright mation). Beverly Hilton Hotel, Beverly Western Banking Group Executive Vice President •March 21 Hills Wachovia Bank, N.A. Plains All American Pipeline L.P. •April 18 •May 16 The dinner celebrates the NEW BOARD OF GOVERNORS NEW MEMBER COMPANIES •June 20 installation of 2007 Chair of MEMBERS •July 18 - Mid-year Economic the Board David Fleming, Forecast. Time & location TBD counsel, Latham & Watkins, •ACTA - Alameda Corridor •No Board Meeting in August LLP. Chamber will also pres- Martin Cabrera Transportation Authority •September 19 ent the Corporate Leadership President •October 17 Award to Vons, the Cabrera Capital Markets, Inc. •City of Santa Fe Springs •November 14 Distinguished Business •December 12 - Holiday Leader Award to John Walter F. Conn BOARD OF GOVERNORS 2007 Event (5:00 - 7:30 p.m.) Anderson and the prestigious President & CEO MEETING SCHEDULE Civic Medal of Honor to Pathfinder Mortgage Corporation For membership information, Richard Riordan and Nancy of Downtown L.A. Attendance at meetings is by please contact Amy Grat, Vice Daly Riordan. For tickets and membership or invitation only. President of Investor Relations, information, contact Michelle Vito Costanzo Unless noted, all meetings are at [email protected] or (213) 236- Attebery (213) 580.7585 or Partner held at the California Club, 538 [email protected]. Holland & Knight LLP 4835. S. Flower Street, and run from New Faces on the Block LAEDC welcomes newest staff members to the family

EDUARDO From 2002 to 2004, Eduardo PATRICIA ROCIO PINAL MARTINEZ served as the Natural Resources O’TOOLE Executive Economist Officer in the same office cover- Executive Assistant, ing agriculture, energy, environ- Administrative Office Eduardo is the ment, and foreign assistance Assistant to Administration newest addition issues. From 1999 to 2002, President & CEO to the Economic Eduardo served as an interna- Rocio joined the Information team, working close- tional economist with the Bureau Patricia came to the LAEDC in LAEDC administrative office, pro- ly with Jack Kyser, Senior Vice of Labor Statistics (BLS) in November. She has an extensive viding administrative support. President and Chief Economist. Washington, DC working on background in corporate business, She has an excellent background export and import price indexes as well as experience in city gov- in office administration and she Prior to joining the LAEDC, and conducting research on U.S.- ernment, project management, has already completed several Eduardo was a Macroeconomic/ Mexico manufacturing opera- public affairs, management and successful ad hoc accounting Finance Officer in the Office of tions. He worked as an import administration. Her career expe- research projects and cost con- Economic Policy and Summit logistics coordinator with Tower rience includes substantive mar- tainment programs for LAEDC. Coordination in the Bureau of Group International in Redondo keting exposure in management Rocio has a BA in English Western Hemisphere Affairs. He Beach from 1993 to 1997. with several national firms, along Literature with a Minor in coordinated and developed poli- with non-profit administration Spanish Literature from the cy on international finance, Eduardo has a BA in International and serving on several civic University of California, Berkeley, macroeconomics, and the Business from California State boards and committees. Patricia and she is currently and pursuing Millennium Challenge Account. University Fullerton and an MA in has an MBA from the University a Master of Modern Languages Economics from CSU Long Beach. of La Verne. in Translation at Cal State LA. LAEDC Business Leader, Winter 2006/2007 Page 11

LAEDC Board Meeting Reports A recap of important issues, developing projects, and success stories

JULY Schorr, executive director of the Information ic development, noting that “the best social Sciences Institute (ISI) in the USC Viterbi program is a job.” He stated that the LAEDC School of Engineering; and Mark S. Humayun, was the primary economic development M.D., Ph.D., Professor of Ophthalmology & investment, other than general quality of life Biomedical Engineering, Cell and programs and support for the poor. Neurobiology at USC; and Director, DEO Artificial Retina Program. LAEDC President & CEO Bill Allen and LAEDC Chairman Rod Banks presented Janssen with SEPTEMBER a plaque that recognized his 10 years of service to the County as CAO on the event of his retirement in January 2007. City of Glendale City Manager Jim Starbird addressed the Board regarding Proposition 90. This measure would amend the NOVEMBER Kriztina Holly, Dr. Mark Humayun and Dr. Herbert Schorr. California Constitution to require government to pay property owners for substantial economic losses resulting from some new laws Technology transfer is being used increasing- and rules, and limit government authority to ly as an economic development tool across take ownership of private property. the country and has the ability to boost the economies of the regions that it serves. Starbird highlighted the major provisions of Following on the successful models of the bill, noting the potential negative impacts Stanford, MIT and other universities in devel- to state and local government's ability to oping licensing, patents, technologies, and effectively enact and enforce environmental, start-up enterprises, Los Angeles’ research land use, consumer protection and housing institutions have similar potential for success. laws and regulations. Jim Hankla, Barry Sedlik, David Fleming and Richard Little. University of Southern California Stevens Update: In November, California voters reject- Institute for Technology Commercialization ed Prop. 90. serves as the central technology transfer cen- Bill Allen introduced a panel of experts to dis- ter for USC innovations and also offers educa- cuss the recent passage of the transportation tional programs in tech transfer for students OCTOBER bond initiative and what steps come next in and faculty. the state’s allocation of the funds. On the panel were Barry Sedlik, the Undersecretary, Krisztina Holly, the new Director of USC Business Transportation & Housing, State of Stevens Institute, spoke about technology California; James Hankla, President Board of commercialization and its importance for uni- Harbor Commissioners, Port of Long Beach; versities. She noted that she knew of no David Fleming, Board Member, Los Angeles other university based technology commer- County Metropolitan Transportation Authority; cialization program that offers such an inte- and Richard G. Little, Director, The Keston grated approach - managing intellectual prop- Institute for Infrastructure, USC. David Abel, erty, licensing, new venture support and an Publisher & Editor-in-chief, The Planning educational component in one institute. Report and the Metro Investment Report moderated the panel. Holly cited a recent New York Times report Rod Banks, David Janssen and Bill Allen. citing a 17 percent jump in venture capital The panel discussed the impact of the bond investment in Southern California from David Janssen, Chief Administrative Officer, passage as it relates to infrastructure, mobil- 2004 to 2005, compared to a 13 percent County of Los Angeles, presented the Board ity and our local ports. Hankla remarked that decline over the same period in New with an update on the state of the County. He our ports cannot handle the expected England. Venture capitalists seek discussed the challenges facing the County, increase in trade volume without an invest- untapped potential in their rush to uncov- stating that the biggest issue is a lack of ment in their infrastructure. Last year alone er the next big thing, and clearly Los national health care strategy. He noted that the ports handled more than 14 million con- Angeles is drawing more attention. the County has a budget of $20.9 billion and tainers. Fleming noted that the MTA's proj- employs over 100,000 people. The bulk of ects include additional carpool lanes for our On hand to present examples of the exciting local revenues come from property taxes. major highways, which would help reduce research being done at USC were Dr. Herbert congestion. Janssen emphasized his support for econom- Los Angeles County Economic Development Corporation

444 S. Flower Street 34th Floor Los Angeles, CA 90071 Phone: 213-622-4300 www.LAEDC.org

As the Southern California region’s premier business leadership organization, the LAEDC's mission is to attract, retain and grow businesses and jobs in the regions of LA County.

LAEDC would like to thank the following Economic Leaders: BUSINESS LEADER is published 3 times a year by the LAEDC Marketing & Corporate Communications Department.

Nhien Barros [email protected] Director of Communications and Marketing Editor & Contributor

Amy Grat [email protected] Vice President of Investor Relations Writer & Contributor

V. Oakley Boren [email protected] Communications Manager Designer & Contributor