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FEATURED STORIES
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Happy Thanksgiving!
"Thanksgiving is an emotional holiday. People travel thousands of miles to be with people they only see once a year. And then discover once a year is way too often!"
- Johnny Carson
OCBC wishes you and your family a Thanksgiving of laughter with grateful family and friends.
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OCBC Charts Global Strategy in a Volatile Economy
Did you know that by 2012 China will have more students studying engineering than the U.S. has studying all subjects combined? Or that by 2020, China will build 50,000 new skyscrapers, urbanizing an additional 350 million people?
These were just some of the challenges and opportunities discussed at the Global Business Strategies Conference hosted Monday, November 17 by OCBC and the Paul Merage School of Business. Themed Navigating Today’s Economic Challenges, the conference brought together top business leaders from Orange County. Amongst those leaders were Ed Grier, President of The Disneyland Resort; David Pyott, Chairman and CEO of Allergan; and keynote Paul McCulley, Managing Director at PIMCO.
“Don’t over promise," McCulley stated as his advice to President-elect Barack Obama. "Speak a positive message, an optimistic message. Pound your shoe on the table to get things done. Washington has the right diagnosis and treatment, but don’t oversell it.”
McCulley compared the ailing economy to a sick patient, even with the right diagnosis “It’s going to take time to heal.”
Read more about this event in the Orange County Business Journal and the OC Register.
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Governor Schwarzenegger's November Recap
The Legislature and Governor's special session come to a close in the face of an $11.2 billion revenue shortfall for this current budget year. The Legislative Analyst's Office has said the budget problem grows to $28 billion when looking at the remainder of this year and next.
Governor Schwarzenegger is asking legislators to take on much more than just the mix of cuts and new revenues needed to preserve the state's cash flow and place priority on three issues which includes the following: keeping families in their homes; stimulating employment and our economy; and maintaining an adequate unemployment insurance fund.
The Governor is prepared to call a special session on December 1 that will require the new 2009/10 legislature to address the current-year budget deficit within 45 days. With so many new first-time legislators, and a complex state budget, no quick resolution is expected.
Ultimately, the state's projected $28 billion shortfall cannot be fixed with temporary revenues or temporary expenditure cuts when the "bucket" has a hole in it caused by systematic flaws. Even with spending cuts. the more revenue taken in, by law, requires that the "bucket" grow larger to fill. Adults need to be making adult choices now -- including a revamp of the entire budget system for this state.
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How Can Businesses Keep the Tap On?
On November 19, the Orange County Business Council hosted an exclusive briefing for its members on the state’s escalating water crisis and the impending impacts to the state and county’s economic vitality. Orange County’s top business and political leaders met to hear the importance of comprehensive solutions from Allan Zaremberg, President and CEO of the California Chamber of Commerce and Dr. Jeffrey Mount, coauthor of the PPIC report “Comparing Futures for the Sacramento-San Joaquin Delta.” View Dr. Jeffrey Mount's presentation here...
Joining us for this working lunch at the Center Club were Assemblyman Mike Duvall, Mayor of Laguna Niguel Paul Glaab, Huntington Beach Mayor Pro Tem Keith Bohr, as well as representatives from the offices of Assemblyman Chuck DeVore, Assemblyman Jose Solario, and Assemblywoman Mimi Walters. OCBC thanks the Metropolitan Water District of Southern California and the Municipal Water District of Orange County for generously sponsoring this important program. For more information, contact Kris Murray, OCBC's VP Government Affairs.
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State Tax Relief for OC Wildfire Victims
In light of the recent wildfires throughout Southern California, the Franchise Tax Board (FTB) announced special tax relief for taxpayers affected.
"By immediately claiming a disaster lose on their tax returns, those who lost their homes or suffered property damages can quickly get some financial relief," said State Controller and FTB Chair John Chiang."
To learn more about disaster losses, or for questions about taxpaying accounts, call the FTB at 800.852.5711.
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Call for Volunteers--Can You Spare an Hour or Two?
After the devastating Orange County fires of last week, volunteers are needed to assist 2-1-1 Orange County assist fire victims. 2-1-1 Orange County's mission is to provide a comprehensive information and referral system that links Orange County residents to community health and human services and support.
Every hour of every day, someone needs essential services--from securing adequate care for a child or an aging parent to finding treatment for substance abuse. 2-1-1 Orange County has recently maxed out its staff in handling the emergency calls and supporting the assistance center during and after the fire. They have also received increased calls for shelter, food and health services due to job losses and the economic downturn.
Volunteers are need to assist in administrative support during business hours at their Costa Mesa office for data entry to the 211 center. Contact Jeremy Scharrer at (949) 764-1309 if you have a couple of free hours. www.211oc.org [ http://www.211oc.org ]
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No Such Thing as a Free Lunch? Think Again!
OCBC investors were treated to a complimentary dining experience at the pre-opening of Caneletto's Restaurant last week. The Fashion Island's newest addition is now open in the space previously occupied by Tutto Mare.
To learn more about these wonderful investor benefits and future opportunities contact OCBC's Celeste Signorino.
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Infrastructure
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John Wayne Airport Making "a Lot" of Changes
From parking structures to a new terminal, John Wayne Airport has been undergoing several changes to better serve those who use OC's only airport. Please take 30 seconds to fill out a quick survey to help JWA best accommodate you and the exciting renovations. Click here to take the short survey.
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Workforce Housing
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New Study Shows Impact on California Economy Due to New Home Construction Slowdown
A recent study conducted by the Sacramento Regional Research Institute shows the entire housing industry accounts for 11 percent of all economic activity in California and supports nearly 1.2 million jobs and generates close to $354 billion dollars of output.
Specifically, new housing construction contributes nearly $40 billion to the California economy and supports nearly 266,000 jobs per year.
"This study clearly validates that the economic prosperity of the state of California is in direct correlation with health of the housing industry," said Kristine Thalman, CEO of the Building Industry Association of Orange County. "It's important to remember that new housing more than pays for itself by creating jobs, improving our communities and contributing to the state's economy."
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Investor Spotlight
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"Business in the Arts" Awards Honors Six OCBC Members
Congratulations to U.S. Bank, Haskell & White LLP, Rutan and Tucker LLP, Bank of America, Disneyland Resort and Wells Fargo for being honored at the 2008 "Business in the Arts" Awards.
The Orange County "Business in the Arts" Awards have been presented annually since the program's inception in 1982. Including this year's winners, 327 awards have been presented to Orange County businesses and 29 awards to local nonprofit arts organizations.
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Member Spotlight
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Need Holiday Gifts? New Business Technology?
OCBC and Toshiba Direct Can Help!
OCBC members now receive Toshiba's employee discounts on industry-leading computer and consumer electronics products. Visit www.store.toshiba.com/ocbc-aff or call 1.800.405.3704 and reference Program ID: PAOB to receive your discount!
From new laptops for the office to GPS systems for the holidays, save on all Toshiba electronics with Toshiba Direct. OCBC and Toshiba Direct recently launched a new custom website just for OCBC members where you can find all the latest in portable PC technology for home and office, as well as televisions, office electronics and other consumer products from one of the world's leading technology companies.
Contact OCBC Director of Communications Matt Prince for questions.
OCBC gives special thanks to Chris Harrington, Vice President of Strategy and Business Development Manager for Toshiba and OCBC's Vice Chair of Workforce Development, for bringing this opportunity to the Business Council and its membership.
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Upcoming Events
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Committee Meetings
December 2008
Please be advised all committee meetings are dark in the month of December. For more information on upcoming committee meetings for 2009 check out OCBC's Master Calendar.
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LEA Event Postponed to January 15
Join OCBC January 15 to celebrate LEA's accomplishments in education. The Orange County Business Council is proud to present a coffee and dessert reception to discover the impact of the Latino Educational Attainment Initiative on its new date of January 15, 2009. Special thanks to event sponsor Northwestern Mutual Financial Network -- The Waltos Group. For more information on this complimentary event or to RSVP contact 949.476.2242.
Learn more about this complimentary event...
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Tis the Season... to Celebrate!
Join the Orange County Business Council, Orange County Division -- League of California Cities and the Building Industry Association of Orange County for a holiday celebration you won't soon forget...
Good food. Good spirits. Good company. And Carolers!
Thursday, December 11, 2008
5:00 - 8:00 p.m.
Hyatt Regency Irvine, 6 Park Grill
17900 Jamboree Road, Irvine
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Community Events
Senator Lou Correa's Holiday Open House
Thursday, December 4
Visit the Senator's District Office and meet the staff, local elected officials, community and business leaders. RSVP by Monday, December 1 to Claudia Ornelas at 714.558.4400.
Everything You Need to Know About California Employment Laws for 2009
Monday, December 15
OCBC member Rutan presents a panel of the firm's top experts on employment law to discuss changes in the coming year. Event will be held at the Westin South Coast Plaza. Contact events@rutan.com with questions or register online at www.rutan.com.
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