Blog / The Business Perspective

It is Time to Get to Work

It is Time to Get to Work


As the mayor, city controller, city attorney, members of the L.A. City Council and the Los Angeles Unified School District (LAUSD) Board of Education prepare to take their oaths of office this week, one thing is clear — there will be no honeymoon period. The crisis in public confidence and the economy won't allow it. However, there are opportunities ahead to accelerate recovery if we all get to work.

We applaud Mayor Villaraigosa's decision to run the city rather than run for governor. Los Angeles needs his leadership focused like a laser-beam on replacing the 250,000 private sector jobs that have been lost in L.A. County during the past year. We also need his focus on the city budget and the growing pension liability that will place extraordinary stress on every city budget during his second term. The L.A. Area Chamber suggests strengthening the mayor's Los Angeles Business Team, implementing 12-2 and appointing talented volunteers to help address the city's unfunded pension liability. We also encourage Mayor Villaraigosa to draw on our city's talented and experienced business people to serve on city boards and commissions.

Our new city controller, Wendy Greuel, is now the top watchdog at city hall. During her time on the city commission, she consistently demonstrated her talent and integrity. City Hall is rife with opportunities to save money and increase efficiency. Too many blue ribbon recommendations are gathering dust on bookshelves. Controller Greuel should focus on high priority audits and the city council and department heads should commit to utilizing the audits to make city hall more efficient during the next four years.

City Attorney Carmen Trutanich is the outsider who will bring a new perspective to city hall. We hope he will rein in the spending in his own organization and utilize his strong partnerships with law enforcement agencies to bolster crime prevention and provide sound legal advice on behalf of the city's taxpayers.

With the exception of newly-elected Paul Koretz, the members of the L.A. City Council, including Council President Eric Garcetti are veterans who have the chance to prove that the term limit extension voters authorized in 2006 is resulting in value for the city and not just a longer paycheck for councilmembers. The primary focus for the city council should also be on creating jobs in their districts and in the city. This should include a citywide economic development vision.

The L.A. Board of Education has the most challenging position of all. Reform is the mantra, status quo is the enemy and student achievement should be the goal valued above all others. We urge the district to allocate every dollar they can to local school sites where the education of students actually takes place. We also encourage board members to maintain their emphasis on small learning communities and career academies that are positively transforming low-performing schools.

The Chamber is committed to partnering with all of our city leaders to create new jobs, educate the next generation of Angelenos and accelerate economic recovery. We are people in business who care about the future of Los Angeles. We were not elected, but we have been working since 1888 to make Los Angeles a better place to live, work, visit and do business.

Now, it's time to get to work on the next four years.

And that's The Business Perspective.

 

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Hidden in plain sight is a fantastic set of resources called CDFIs (Community Development Financial Institutions). Here's how the US Treasury describes them:
"A certified Community Development Financial Institution (CDFI) is a specialized financial institution that works in market niches that are under served by traditional financial institutions. CDFIs provide a unique range of financial products and services in economically distressed target markets, such as mortgage financing for low-income and first-time homebuyers and not-for-profit developers, flexible underwriting and risk capital for needed community facilities, and technical assistance, commercial loans and investments to small start-up or expanding businesses in low-income areas. CDFIs include regulated institutions such as community development banks and credit unions, and non-regulated institutions such as loan and venture capital funds." Sounds like the answer to the credit crunch! For a list and more information, go to http://www.cdfifund.gov/what_we_do/programs_id.asp?programID=9#certified. This just might be the opportunity for the social (nonprofit) sector to help out the for-profit sector.
Posted by: Melanie Stephens @ 6:41:00 am

In as much as I agree with your comments that we should support our local elected officials, we must also ask that they be held to much higher standards in terms of getting things (problems) resolved. Problems with gangs, graffiti and homelessness seem to now be a way of life and in need of resolution, that year in and year out they remain a part of our daily lives.
Posted by: Robert Soto @ 3:42:00 pm