Torrance Magazine ~ October 2009

TM_Oct09_Cvr_thrup19.qxd 10/25/09 9:54 AM Page FC1

Over the last month I spent closeto two weeks at a critical-care hospital accompanying a closefamily member. I felt like I saw itall and experienced a lot: a lot of waiting, speculating, hoping, praying, questioning, sleepless-ness, anger caused by inefficien-cies, hurdles, and pain. In theend, the outcome for my familywas a favorable one, so we sawthe success that some of the others around us did not have anopportunity to treasure. As I sat to reflect on this quarter’s column,

I began to realize that many of the experiences met in our personal livesresemble cycles in business, such as the challenge of receiving bad news,speculation, action, and the hope for recovery while seeking bonds withthose we hope can be of help.

There is sadness in the financial losses seen this year, including the lossof jobs and dreams. Today we are seeing some businesses hold still ininvestments and we are seeing others who are seizing opportunities. Howdo businesses recover and take on the same strength of spirit that allowedthem their previous positions of success? How do professionals find goodresources that can be trusted during these times?

The Torrance Area Chamber of Commerce is a wonderful resource for businesses wishing to improve the quality of the local economy.Gatherings and discussions are taking place and new groups are formingin an effort to appeal to all members and their unique needs. There is trulysomething for everyone at this Chamber. Are your business needs beingmet? If they are not, staff, board members, and ambassadors are ready tohelp guide you and connect you. We all want to see success. Browsethrough the following pages and read about strengths, tips, and outlookfrom various businesses. Read Jack Kyser’s predictions, and let us knowwhat you think.

The January issue of Torrance Magazine will concentrate on Technology.Are you in an industry that contributes to, or is challenged by the rapidchange in technology? What are some of the tools that you recommend? Is there a specific product or industry that is emerging? We want to hear all about it. Show your leadership! Be part of Torrance Magazine!

Sue Moylan

UPCOMING DEADLINESfor the January 2010 Issue on Technology:Article Deadline: November 16, 2009Advertising Deadline: November 20, 2009Distribution Date: January 4, 2010

CONTACT US:Advertising: See www.torrance-magazine.com or Contact AdSales@Torrance Magazine.com or 310.317.0841 Articles: Amy Herrschaft and/or Pat Sandt, [email protected] or 310.373.2880General Information/Marketing Services: Sue Moylan, [email protected] or 310.539.2235TACC Contact: Amy Herrschaft, at [email protected] or 310.543.3113

The Torrance Magazine focuses on business stories, events, and who’s who profiles that are of interest to Torrance Chamber of Commerce members and others doing business in the South Bay area. The editorial is positive, information-packed, exclusive news: a diverse mix of feature stories on Torrance and South Baymovers and shakers, businesses, events, local industries, government and businesseconomic development strategies and outlooks.

DEPARTMENTSNotes from the Publishers................................................2

Chairman’s Message.........................................................4

TACC Board of Directors & Staff........................................6

Chamber Exec’s Message..................................................7

ECONOMIC & FINANCIAL

The Business Owner’s Challenge “New Economy, New Mindset”..........................................8

Investing in Success - Math and Science Initiative...........9

RDC - Saving Time at the Bank........................................10

The Entrepreneurial End Game........................................11

The Costly Risks of Payroll ..............................................13

Life Insurance Essential in Estate Planning.....................14

Surviving the Current Economy.......................................15

Good-All-Around: Protecting Information, Job Opportunities and the Environment.......................... 17

El Camino College:Preparing the Future Workforce...................................... 18

Employee Financial Stress May Be Costing Your Company........................................19

The Economic Outlook at Mid-Year.................................20

Revenue Sources and Distributionfor the City of Torrance................................................... 22

Job Creation Program Passes Halfway Mark...................24

CHAMBER HIGHLIGHTS

Leadership Torrance 2010...............................................25

TACC Offers Ben-e-lect Health Insurance Savings...........26

Adopt-A-School Program Launches New School Year.....26

TACC Committee Highlight: Professional Roundtable of Financial Services (PROFS)..........................................27

CalChamber Offers Business New Resource...................28

TACC Mentor Program Begins.........................................28

Ribbon Cuttings..............................................................29

Food & Wine Festival Recap............................................30

UPCOMING EVENTS

At the Chamber................................................................31

In the Community............................................................32

NEWS BRIEFS

LA BioMed has New President and CEO ......................... 33

Fan Donates to PTN........................................................ 34

Torrance Memorial Awards College Scholarships...........34

Old Torrance Block Party Recap ..................................... 34

CHAMBER BENEFITSBecome a Member .........................................................35

Torrance Magazine: It’s All About Business ...................36

In this Issue Our Notes:

Sue Moylan and Pat Sandt,

Green Ink Marketing

Torrance Area Chamber of Commerce

Presents

Available Business Exhibit Space8X10 Space: 4X6 Space:$295/Members* $195/Members*$600/Non Members $400/Non Members

Non-profit Walkway4X6 Space: $100

Exhibitors are invited to decorate their booths in a Halloween theme!A TACC staff person will contact you to confirm your booth location.Exhibit space is given on a first come, first serve basis based on payment. The Chamber reserves the right to place and rearrange the floor plan if necessary. Limited space is available.

*Members in good standing willreceive the member discount.

Each booth space includes skirted table & 2 chairs.

2009 Business ExpoThursday, Oct. 29, 2009

4:00 – 7:00 p.m.Torrance Marriott, 3635 Fashion Way

Reserve your space now! Gain access to potential business clients! Connect with the South Bay Community! Expecting over 500 people!

For more information, contact the Torrance Chamber at

310-540-5858

2009 Business Expo

Dear Friends and Members,

Just as I was approaching the honor of serving you asChairman of the TACC Board of Directors, an inner voicechided my impeccable (or unfortunate) timing.“Keeton! You’re going to be Chairman of one of thearea’s leading ‘voices for business’ right in the midst ofnot only the nation’s, but the world’s most significanteconomic disaster in the last 80 years! Good timing!”Obviously, none of us has the power to choose theuncontrollable dynamics we will face in the leading ofour businesses and organizations; but we do get tochoose how we will respond.

Imagine my relief as yesterday I heard on one of themultitude of information channels state that the reces-sion was “technically over.” Wonderful news, but notyet tangible for the unemployed, the business ownerstruggling to survive, and the employee wondering if hisor her position will be there next month. Technically,over is great; but reality says we have years of creative,innovative and brave decision making ahead to rebuildand perhaps even reinvent our businesses.

What will separate the businesses, organizations andinstitutions that survive from those that do not is theability to make strategic and sometimes difficult deci-sions to reinvent and realign the business models intonew realities.

TACC is one of many tools that should be in your tool-box as you work through the challenges all of us are facing. We pride ourselves on striving to be a drivingforce in promoting the local business community. One of our core values is to foster a strong local economy. In that regard, this October 29th we will be hosting our Annual Business Expo. This event provides ourmembership and local community at large with theopportunity to come together and learn more aboutlocal businesses and organizations. The Business Expois an excellent opportunity to expose your business tonew clients and increase your local visibility. It’s oneway for businesses to share their goods and serviceswith each other and perhaps find new vendors, partner-ships and solutions that will work.

Also as we begin this Fall season, the Chamber’sEducation Foundation once again begins its award winning Mentor Program. Toyota Financial Services haspartnered with the Chamber to provide members with

Let’s Get Back to Business!

DAN KEETONChairman of the Board


Obviously, none of us has thepower to choose the uncontroll-able dynamics we will face in the leading of our businessesand organizations; but we do get to choose how we willrespond.

4 OCTOB E R 2009

an opportunity to mentor local high school studentsfrom North High over a three year period. This mentor-ship is designed to have business professionals helphigh school students identify goals, achieve successand make plans beyond that last year of high school.Special thanks should be extended in advance toEducation Foundation Chair Tara O’Brien (KaiserPermanente), Amy Herrschaft (TACC staff ), and ToyotaFinancial for making an investment into the educationof our local students.

We’re also looking forward to the Annual JapanBusiness reception on November 13 as we honor significant members of the Japan business community.Torrance now has a higher density of Japanese businesses than any other city in the entire region.These businesses will play a significant role in the local economy of today and tomorrow.

Let’s get back to business!

C H A I R M A N ’ S M E S S A G E

2900 Pacific Coast HighwayTorrance, CA 90505

888.630.9210

20550 Hawthorne BoulevardTorrance, CA 90503

800.768.3086

14900 Hindry AvenueHawthorne, CA 90250

888.268.3311

Members You Can Count On:Pacific Porsche • Pacific Audi • Pacific Volkswagen • Toyota of HollywoodScion of Hollywood • Lexus Santa Monica • Toyota Santa MonicaScion Santa Monica • Volkswagen Santa Monica

Let your desire be inspired.

Sporty I Luxury I Comfort I Great MPG

LAcarGUY® Body Shop – Inglewood • LAcarGUY® Estimating Center – Santa Monica • LAcarGUY® Estimating Center – Torrance

TACC Board of Directors and Staff About Torrance Magazine2009-2010Executive Board of Directors

Chairman of the BoardDan KeetonTorrance Community Church of the Nazarene

Chairman ElectMark WaronekMark Waronek & Associates

President and CEOKen BrengleTorrance Area Chamber of Commerce

Immediate Past ChairToni BockVirco Inc.

Vice Chair FinancesCarlos SeraphimCitibank FSB

Vice Chair Membership OutreachSue MoylanCrest Marketing, Inc.

Vice Chair Membership ProgramsMichael GoguenEdward Jones Investments

Vice Chair Government AffairsCharles Gale Jr.Metropolitan Water District of So. Cal.

Vice Chair Economic DevelopmentJerry SayLandPoint Corporation

Vice Chair Premier Investor RelationsAaron AalcidesMalaga Bank

Vice Chair Education FoundationTara O’BrienKaiser Permanente

General CounselKarl SchmidtParker, Milliken, Clark, O’Hara & Samuelian

2009-2010 Board of Directors

Candace AllenField Deputy Assemblymember Ted Lieu

Linda AmatoDoubletree Torrance South Bay Hotel

Vanessa AramayoField Deputy Congresswoman Jane Harman

Karin BakerAmerican Honda Motor Company, Inc.

Tony BazurtoCompex Legal Services, Inc.

Philip de SouzaAurora Enterprises

Raj DiasPhoenix International

Scott EasterdayOutback Steakhouse

Judy GibsonStrategic Technology Sources

Mary GiordanoAssistant City Manager, City of Torrance

Michael HunnProvidence Little Company of Mary

Craig LeachTorrance Memorial Medical Center

Dr. George MannonTUSD Superintendent of Schools

Julia NaganoPort of Los Angeles

Steven NapolitanoField Deputy, Supervisor Don Knabe

Max OcanseyExxon Mobil Corporation

Jeffrey RogersWestern Federal Credit Union

Pat SandtGreen Ink Marketing

Liz SeongRe/Max Realty

Bob ShaferTorrance-South Bay YMCA

Mark StoryBall Corporation

Dan ThomasTelePacific Communications / PhonBiz.com

B. Elaine ThompsonB. Elaine Thompson, Law Office

Richard TsaoNew Century Properties & Investments

Tracy UnderwoodToyota Motor Sales USA, Inc.

Sharon WeissmanField Deputy, Senator Jenny Oropeza

TACC Staff

Ken BrenglePresident & CEO

Helen DuranFinance Administrator

Amy HerrschaftCommunications & Events Manager

Stephanie LeeProject Coordinator

Kelly McLeodMembership Coordinator

Torrance (ISSN #0194-5491)Published by the Torrance Area Chamber ofCommerce with Green Ink Marketing.Torrance Area Chamber of Commerce 3400 Torrance Blvd., Ste 100,Torrance, CA 90503. (310) 540-5858;Green Ink Marketing, Sue Moylan and Pat Sandt, 1874 S. Pacific Coast Highway, #727Redondo Beach, CA 90277310.539.2235. Subscription rates: $20.00 per year. E-mail: [email protected]

Send address changes to:Torrance Area Chamber of Commercec/o Torrance Magazine 3400 Torrance Blvd, Suite 100Torrance, CA 90503 Tel: 310.540.5858

All rights reserved. Trademark.

ARTICLES: Torrance Magazine is publishedquarterly and mailed to TACC members anddistributed to selected businesses in thecommunity. The publishers welcome writtenqueries regarding articles for possible publi-cations. Articles are subject to editing andare included on an “as space permits basis”at the discretion of the Publisher, Editors andEditorial Board.

ITEMS: Material and photos for inclusionmust be received 30 days in advance of thequarterly publication date. Reproduction, inwhole or in part without written permission,is prohibited. Photos and articles notreturned.

DISCLAIMER: All reasonable efforts havebeen made to ensure the accuracy of theinformation contained in Torrance Magazine.The publisher accepts no responsibility fordamage arising directly or as a consequenceof the use or publication of inaccurate ormissing information. The opinions expressedby contributors are their own, and are notnecessarily shared by Torrance Magazine, itsstaff, TACC, Board of Directors, managementor advertisers. Editorial content is intendedas general information, and not as specificlegal or financial advice; for such, readersare advised to consult professionals in theappropriate field. The Torrance AreaChamber of Commerce and Green InkMarketing assume no liability resulting fromthe advertising contained in the publication.

Printed on FSC Certified Paper withSoy-Based Inks.6 OCTOB E R 2009

TO RRA NCE M AG A Z I N E 7

It is hard to believe that it has been three months since Istarted as your President & CEO for the Torrance Chamber.The opportunity to help lead such a viable and dynamicorganization is a great motivator. The leadership and volun-teers for this chamber are dedicated and driven to excellence.We as a staff are excited for what the future holds.

These are challenging economic times; ones where we mustprove that your investment in the Torrance Chamber will bringyou dividends. The networking opportunities; Networking @Noon, Young Professionals, HR Committee, PROFS, GreenTorrance Committee, Business @ Breakfast are continuing toprovide our members with leads that can produce business.

The events we have scheduled for the next few months notonly provide networking opportunities but will offer businessto consumers contacts at the Business Expo on October 28, a chance for Leadership Development at Leadership TorranceAlumni Association’s (LTAA) Leadership Symposium onNovember 5th, cultural diversity with the Japanese BusinessReception on November 11 and learning the State of theRegion from our U.S. Representative Jane Harman on October13th. We will also be scheduling some other events with ourcounty officials in the near future.

Additionally, LeadershipTorrance is soliciting recruits forthe 2010 Leadership Torranceclass to start in January. TheGovernmental Affairs Policy (GAP)committee is back meeting on aregular basis; second Monday ofeach month at the TACC offices.The Economic Developmentefforts are doing the ground workto make inroads in InternationalBusiness development, LocalManufacturing Survey &Tourism Development. Please also keep an eye out as we work on updating our websitewww.torrancechamber.com.

Finally, we need your input on what we are doing. Pleasefeel free to contact us to let us know your thoughts, opinions& comments on what the chamber is doing. Best wishes aswe head toward the end of 2009 and kick off 2010.

KEN BRENGLE, CCE

President and CEO


C H A M B E R E X E C ’ S M E S S A G E

8 OCTOBER 2009

An interview by Pat Sandt, publisher of TorranceMagazine with business leadership coach, Doug Quackenbush, founder of THE BUSINESSCOMPASS, discussing how business leaders canflourish in today’s economy. Pat begins…

Pat: Doug, you coach business leaders and their teams.Why do you say a new economy needs a new mind-set? Doug: The economic downturn has fundamentally changedthe way customers are spending their money. Many entrepreneurial businesses that once focused outward, oncustomer needs have become service organizationsfocused inward, executing processes the sameway, day in and day out. Their current mind-set, “this is how we’ve always done busi-ness,” is preventing them from seeingthat customers have changed.

Pat: What mind shift is needed forsome of these businesses to enjoymore success? Doug: Leaders must bewilling to discover and do the mostimportant things for their business. Intoday’s economy, they must discover anddo the most important things to attract andkeep new customers.

Pat: Is shifting your thinking really that simple? Doug: It actually isn’t simple. In hard times, business ownersretreat to the basics they used to build their business. Butsince they built their businesses in better times, most deliv-ered a great product or service, and customers just came.Today, they’re stuck in the same approach—even thoughthey’re not achieving what they need to continue growing.

Pat: What can business owners do differently?Doug: To turn things around, they must take a hard look at their customers. Are loyal customers buying less often?Wanting to pay less? Have some stopped buying altogether?If you’re seeing this kind of change, you must focus on whois spending now. Then, deliver what customers are willing to buy.

The Business Owner’s Challenge:“New Economy, New Mindset”

Pat: How does a business team make this leap?Doug: The leader must motivate the team to meet revenuegoals, regardless of what it takes—whether it’s stepping upsales efforts or delivering products or services in a differentway. As a leadership coach, it’s my role to find ways to helpdiscover what needs to be done, brainstorm the work it willtake, and ensure that revenue goals are achieved.

Pat: Is good leadership enough?Doug: No. Once the new direction is set, the team will react.Some will embrace change. A few will refuse to learn some-

thing new. Others will be eager to try, but unsure how.A performance coach can help the team develop

the skills and disciplines they’ll need to oper-ate a new way. Then, great leadership

guides the change and keeps at it untilthe organization makes it part of whatthey do.

Pat: Is this just a one-time change?Doug: Businesses must have thecourage to continually look at

customers’ changing needs and realigntheir actions. NASA once estimated their

lunar spacecraft was on target only 5% ofthe time: staying aligned with the intended

path required constant adjustment. Businessesare no different. Daily operating issues pull you in so

many directions. Investing in a business coach helps theleader and team stay on course to achieve their goals.What’s not easy is to know what’s most important to bedoing. Guessing wrong wastes time and costs money.Building a roadmap – knowing where you’re going – gettinginto action and staying there; that’s what makes everythinga whole lot easier.

E C O N O M I C & F I N A N C I A L

T R E N D S A N D T I P S

An expert in business leadership and growth, Doug Quackenbush provides mastery coaching to business owners and executiveteams across the U.S.A. A fellowTorrance Chamber member, Dougcan be reached at 310-937-5951, [email protected]

An investment that yields nine times the national

average seems too good to be true, especially in

today’s economy.

But that’s exactly the result achieved by the

National Math and Science Initiative (NMSI) in its

first full school year.

At the 67 high schools with NMSI programs,

the number of passing scores for students taking

college-level Advanced Placement (AP) math,

science and English exams increased by 51 per-

cent — or nine times the average increase

among schools without NMSI support.

Results for underrepresented populations

were even better. With NMSI

support, African American

and Hispanic students

passed 71 percent more AP

exams, and girls passed 55

percent more.

Such success today points to more achieve-

ment in the future. Research shows that students

who pass AP exams are three times more likely to

earn a college degree.

There is no secret behind NMSI’s success —

just proven methods. Better training and perform-

ance incentives result in better teachers.

Individualized instruction and scholarship incen-

tives result in college-ready American high school

students who can compete internationally.

Now the challenge is to replicate this project on

a national scale to help rebuild America’s perform-

ance in math and science education.

Three decades ago, the United States ranked

third among developed nations for college stu-

dents earning science and engineering degrees.

Today, we rank 17th in science and engineering

and 26th in math. This should concern all

Americans, because expertise in science, math,

engineering and technology is driving our high-

tech global economy.

American companies understand the critical

need to close the achievement gap in math and

science, which is why ExxonMobil committed

$125 million to help launch NMSI in 2007, with

additional support from the Bill and Melinda Gates

Foundation and the Michael

and Susan Dell Foundation.

NMSI is currently funded

for expansion to 350 schools

in six states over five years.

But we need to do more.

More public and private funds can deliver NMSI’s

proven strategies to high schools across the coun-

try and equip millions of students with the math and

science skills they need to succeed in college.

Our students are willing and able, as evidenced

by a 69 percent increase in AP math, science and

English course enrollment at schools receiving

NMSI funding.

Now is the time to invest in success. American

students are ready to learn. Are we ready to help

them?

Visit www.nationalmathandscience.org tolearn more.

Investing in successNMSI delivers results for American students

ExxonMobil is donating this space to the National Math and Science Initiative.

With advancementsin technology, community banksare able to offerbusinesses servicessuch as remotedeposit capture to business customers, whilestill keeping thatcommunity bankfeel. At Malaga Bankwe are now able toreach business own-

ers outside of our normal branch footprintand provide that same superior servicethat is afforded by a branch visit. Ourretail banking managers become your liaison for this service, including orienta-tion, hands-on installation and service aswell as training.

Remote Deposit Capture (RDC) is aprocess that allows you, the business,to scan checks and transmit the imagecreated to a bank for posting and clear-ing. The scanner scans one check at atime and captures both sides of thecheck. This digital deposit is then trans-mitted, usually over an encrypted inter-net connection, to the bank who thenaccepts the deposit, posts the depositto your account just as if the check hadbeen deposited at the branch. This serv-ice is often referred to by many namesincluding Remote Capture for Business.At Malaga Bank, for instance, this serv-ice is known as Electronic Deposit forBusiness (EDB). RDC is particularlyhelpful for small business customerswho cannot spare someone to go to thebank to deposit checks. They can simply



scan the checksfrom the conven-ience of their officeand use the traveltime in more pro-ductive ways. Andthe transaction isposted overnightfor next-day accessto those funds.Business owners can get back to run-ning their business instead of runningto the bank.

Getting started with RDC is easy. Thebasic requirements currently include apersonal computer, an internet connec-tion and a check scanner, which canusually be leased or purchased from thefinancial institution. More recent tech-nological advances include softwarethat makes RDC possible from aniPhone. Ask your financial institutionwhat RDC options they have available.

10 OCTOB E R 2009

RDC, EDB...It’sall Greek to MeSaving time spent at the bank throughRemote DepositCapture (RDC)

Aaron Aalcides,

SVP, Retail Banking

Executive,

Malaga Bank

RDC provides conven-ience, improved depositavailability and reducedtransportation cost andrisk. Fraud remains aconcern but is managedthrough a series ofsecurity controls andencryption software.Risk is reduced through

storage and destruction procedures forscanned checks that must be retainedbased on regulatory schedules. Banksmust also trust that a client will properlyoperate the equipment and follow thesame security and anti-fraud standardsto which the financial institution adheres.

RDC is definitely an innovative way tosave time in depositing checks at yourbank. In order to decide if RDC is rightfor you, weigh the benefits and risks,and talk to a representative from yourfinancial institution for more details.




“When it comes to creating retirement and incentive plans thatwork for your company, the ACI teamwill listen to you and workclosely with you and your advisors to design the plans that meetyour unique business strategic goals”

Pat Byrnes, Founder and President of ACI has more than 35 years of experience in the pension industry.

ACI has been doing business in Torrance for over 25 years!

For more information please visit us at our website: www.acibenefits.com or call us at 310.212.2600

Incentive/Recognition System Consulting

Retirement Plan Design & Documentation

Compliance & AdministrationFiduciary Compliance Services

2377 Crenshaw Blvd., Suite 350 Torrance, CA 90501 310.212.2600

The Entrepreneurial End GameBY PAT BYRNES

For those of us that have started ourown businesses, our holy grail is howdo we get away from the fray of beinghard driving entrepreneurs to the ulti-mate succession of our business.

The entrepreneurial business is notjust about us, the owners. There are awhole slew of stakeholders counting onour doing it right which include our fam-ilies, partners, employees, customers,suppliers, creditors, and the community.There was a lot to think about when westarted our businesses, but for the mostpart we threw caution to the wind andthrough our wits survived those earlyyears with sheer gumption. We werenot the best planners but we had an“idea” that was so compelling it justhad to work.

Times are different now and if youwere born in the Baby Boomer genera-tion you could argue that the condition ofthe economy is not cooperating either.But ignoring an eventual transition maynot be the best tool in your toolbox. Thisjust may be the right time for planning,but where does one start? The answer isthat it depends on your situation. Here isBill’s. Others may relate to his situationand/or needs too.

Let’s assume Bill wants to sell hisbusiness. The first issue is what wouldsomeone pay him for his company, orbetter put, what can he do to make hiscompany more valuable to a buyer.Here are some of the facts about Billand issues that come to mind:

Bill is age 62 and is a successfulwidget manufacturer. He lost a lot ofpersonal and retirement savings in thedownturn of the economy. His businessis his most valuable asset. He is tryingto get his home budget pulled together.None of his children have the acumen torun the company.

A possible starting point for a plan-ning process may be:

1. Finish that home budget and take itto the next step by envisioning the netafter tax money needed to support hisneeds and goals if the business is sold.To do this Bill will need to separate thehome budget from the company budget.(He may need the assistance of a financial planner and or a planning oriented CPA)

2. Examine the financial health of hiscompany. Books and records should bein order; it also makes the bankerhappy. (Bill may need a CPA to help)

3. Implement changes that are appropriate for both Bill’s personal situation (maybe the need for more personal savings, etc.) and the business. (may need better processes, procedures, a certification, etc.)

Continued on page 12

The entrepreneurialbusiness is not justabout us, the owners.There are a wholeslew of stakeholderscounting on our doingit right which includeour families, partners,employees, customers,suppliers, creditors,and the community.

12 OCTOB E R 2009

4. Examine the culture of his company andthe strength of his management team. (Bill may decide to create reward andrecognition systems to hold his employeesaccountable and infuse them with energy. Billmay take this opportunity to have better salestraining to gain market share. He may also re-think the role his retirement plan system playsin his company and be sure that the plan(s) arein compliance with all federal requirements.This may require an outside review of the plandocuments and the plan’s operation.)

5. Explore the market place of potential buy-ers. There are all types of buyers and traps toexplore. Bill will learn that the type of buyer,the price of his business and the terms of thedeal are all very important. Due diligence isimperative for a successful outcome. (Bill may want to work with an investmentbanker and a transactional attorney to sortthrough the maze.)

6. Closing the deal can be harder than get-ting a house through escrow. Bill should

expect the unexpected. (Bill will need a goodtransactional attorney to cover all the bases sothat something does not pop up that is veryexpensive to resolve during the “claw backperiod” following the close.)

7. The wrap up and onto a new life. Bill’sdreams aren’t materialized out of thin air. (Thisis where having a good relationship with afinancial planner and estate planning attorneycome into play.)

Transitioning a business is emotional andcomplex. The best outcomes are generallyderived through thoughtful process and theassembly of the right team of advisors.

Mr. Byrnes and a team of advisors from different disciplines have put together a veryinformative 90-minute program entitled “The Entrepreneurial End Game” which willhelp you prepare for a successful exit strategyand sale of your company.

For more information contact:[email protected] 310.212.2604

The Entrepreneurial End Game Continued from page 11



Transitioning a business is emotional and complex. The best outcomes are generally derived throughthoughtful process and the assembly of the right team of advisors.

TechnologyShare Your Leadership!

January 2010 Issue:

Article Deadline

Advertising Deadline

Advertising

Article Submittals

November 16th

November 20th




Most businessowners mistak-enly believethat they cansave money andmaintain agreater degreeof control overtheir expensesif they processtheir own pay-roll. But time

spent processing payroll is time not available to add to the bottom line of the business, whether that might beincreasing sales, collecting receivables,developing new products or strategies, or even taking some time to relax andrecharge the batteries. All of these thingsare more productive than processing payroll in-house which can become a very costly choice. Like rent, payroll processing is a task that is necessary for business owners wishing to stay inbusiness; like insurance, having it donecorrectly and abiding by the rulesdecreases costly risks.

Every paycheck includes at least fiverequired tax deductions in each statewhich then must be added to otheremployer taxes and voluntary deduc-tions, and every one of these items is anopportunity for a problem to occur. Thelate or incorrect deposit of these tax lia-bilities can result in costly penalties andinterest for a business owner.

For a company with as few as fiveemployees, a small boutique payroll serv-ice provider might charge as little as $20per pay period plus $1.65 per check for abusiness to completely outsource the

task of calculating payroll and properlypaying all state and federal taxes. Thetime spent on payroll can be reduced tosimply reporting the hours worked. Thepayroll service provider shoulders boththe workload and the liability of the pay-roll processing and the business ownercan now focus on bottom line - runningand growing their business.

The employer maintains complete control over when and how the payroll isprocessed, wages, raises, and benefits. In addition, business owners can havecomplete access to reports, history, personnel data as well as report writingcapability with web based services.Chamber member Steve Goldstein whohas been in the payroll business for over23 years, says that with Payroll Manage-ment Solutions there are no contracts tosign. Employers can receive all the bene-fits of a service provider without beingforced into long-term commitments.

The biggest benefit of a tax filing serv-ice is that if ever a notice arrives from theIRS or EDD, a client simply faxes that totheir service provider to be handled.These notices often result from a mistakeby the IRS or EDD and are cleared up veryquickly – all without any effort from thebusiness once that fax is sent. But for theemployer who does it himself (for “free”)it might mean spending many hoursresponding to such notices, and hoursaway from the business that can never bereplaced.

For questions regarding payroll,contact Steve Goldstein, President

at Payroll Management Solutions at 310-491-3467

The Costly Risks of Payroll

Steve Goldstein, CPP

Time spent processing payroll is time not available to add to the

bottom line of the business.

LTAA LeadershipSymposium

Sponsorship Opportunities are available

Sponsor Logos will beprominently displayed

in all the marketing collateral

Presenting Sponsors$1,000

Level A - $500

Level B - $250

Level C- $100

For more details visit www.torrancechamber.com

or call Lynn Cardarelli at213.304.8866



You need estate planning. It doesn’t matter how much youmake. It doesn’t matter where you work. What matters iswhere you want your assets – no matter how great or small– end up after you die. Or would you rather have someoneelse make those decisions?

Estate planning is how you make sure that your assets –your lifetime accumulations – pass to your heirs in a mannerof your design. It’s how you make sure your family is secure,and your assets end up where you want them. It’s takingcare of your family, your business and/or whatever is impor-tant to you.

Proper estate planning, whether through a will or someother vehicle, will make sure you, and not the state, decidewhere and how your assets are distributed after your death.Life insurance can give you options that make your planningan easier process. There are two basic ways in which lifeinsurance can assist in your estate planning:

Estate Enhancement – primarily for younger families andthose families with children. Adequate life insurance thatprotects a family from financial loss due to a premature lossof life can help pay for future college tuition, mortgage pay-ments, medical bills, etc. Tax-free life insurance benefits canhelp the surviving spouse and children maintain their stan-dard of living.

Estate Liquidity – primarily for older folks with somewhatlarger estates. Those individuals who are worried about federal and state death taxes can use life insurance pro-ceeds to help pay those taxes. Many times, people with sig-nificant assets have those assets in “hard” form – they arehard assets, meaning that they are not easily or quicklysold. Your home, jewelry, artwork, cars and other materialpossessions are some examples. If those assets must besold quickly to pay taxes that are due a few months afterdeath, chances are you are not going to get top dollar forthose assets. Life insurance can remove that concern.

There are more advanced uses of life insurance, many ofwhich are geared toward business owners. Some of thoseexamples follow:

Estate Equalization for Family-Owned Businesses –Family businesses operated by parents with one or morechildren are often in need of liquidity when the parents die,as a majority of the estate is “tied up” in the business. Lifeinsurance provides a way to pass the business to interestedheirs while being fair to those children outside the business.

Buy-Sell Funding – Life insurance can be an indispensa-ble tool enabling surviving co-owners of a business to ownand continue the business without outside intrusion, whilethe deceased owner’s heirs obtain debt-free assets from theestate.

Key-Person – Business owners use “key-person” policiesto help replace earnings associated with the loss of employ-ees whose unique talents and knowledge made them valu-able assets of the business.

Credit Enhancement – Life insurance is often used to sta-bilize a business concern’s financial position and serves as avaluable asset to pledge as collateral.

Informal Funding for Deferred Compensation – An impor-tant ingredient in any deferred compensation plan that is“non-qualified” is life insurance. Such policies owned byand payable to the employer remain a primary building-block of all such plans.

For more information on how life insurance can play avaluable role in your estate planning, be sure to visit withyour insurance agent.

Submitted by: Lynn Cardarelli, Independent InsuranceAgent affiliated with Mutual of Omaha, CA License # OE19730

Office Phone: 310-328-2234Cell: 213-304-8866Office Address: 1010 Crenshaw Blvd., Torrance, CA 90504

Life Insurance Essential in Estate Planning

14 OCTOB E R 2009

Proper estate planning, whetherthrough a will or some othervehicle, will make sure you, andnot the state, decide where andhow your assets are distributedafter your death.


Surviving the Current EconomyBY DOYLE GUHY, CPA

Most economic forecasts (about 75%) project a very small increase in economicactivity over the last six months of this year, or none at all.* While this is goodnews compared to the first six months, many businesses will still be scramblingto keep their heads above water and survive. There is also some support for asecond economic dip and extended “stagflation”. We don’t want to be alarmists,but taking specific actions can help your business survive the current storm.

What can you do? Here are some basic steps you can take to ensure that your business survives and may even find opportunities to grow:

SALES• Make sure you know trends in your specific markets, and design marketing

approaches to meet your customer’s needs. • Offer incentives, especially to loyal customers. This may squeeze margins

but will help cover operating costs and strengthen customer relations. Your customers are looking for deals also!

• Look for opportunities to increase your customer base. Your competitorsare hurting also, and their loss could be your gain. Don’t reduce your

marketing costs.• Check the status of your critical suppliers. You don’t want to be caught

short on inventory that is moving.

OPERATING EXPENSESReview your profit & loss in the current year and last year. Go through each

line item of expense and identify areas that can be cut. During good times we have a tendency to let things slide. Below are some common areas to scrutinize.

• Payroll People are the most important asset a company has; however, look ateach area in your business where personnel may be idle. We know that layingoff people is a very hard decision, especially in a small business. An alternativemight be to have everyone cut back, versus layoffs. You also need to evaluateyour own personal needs and possibly reduce your own salary. Some smallbusinesses make the mistake of not acting quickly, while the business crumblesaround them.

• Employee Benefits May need to reduce, temporarily, such things as retire-ment plan contributions and health care benefits. Look at alternatives in healthcare benefits such as health savings accounts.

• Occupancy Costs If you are leasing space, this may be a good time to meetwith your landlord and work out a reduction in rent, or consider moving.Commercial real estate is also being “squeezed” in this economy, and landlordsdo not want vacancies. If you own, consider refinancing for a more favorable rate.

• Utilities May sound simple, but “turn off the lights” when not in use. TurnA/C up a couple of degrees. Common sense can save dollars!

At First California Bank, we take pride in being a well capitalized,

well managed and financially strong Bank.

Celebrating our 30th anniversary, we are an emergingforce of strength and stability in Southern California

banking.

&Strong,

SafeSecure!

FIRST CALIFORNIA BANKOur People. Your Success.®

JILL FÁTALExecutive Vice President

310.784.3016

www.fcbank.comMember FDIC




Look for

opportunities

to increase your

customer base.

Your competitors

are hurting also,

and their loss

could be your

gain. Don’t

reduce your

marketing costs.

Surviving the Current Economy Continued from page 15

16 OCTOB E R 2009

BALANCE SHEET

• Accounts Receivable Manage your receivables. You might even offer a discount for a customer to bring an account current. Be sure to verify credit before extending terms.

• Inventory Manage your inventory at optimum levels.

• Accounts Payable If possible, take advantage of discounts being offered.

Owners need to be involved and know what is happening in their business. Review your financial statements,accounts receivable and accounts payable aging on a regular basis (at least monthly). Do you regularly consulta professional to enhance your effectiveness in analyzing your financial reports? These items above are justexamples; your own situation may vary significantly. At Rosenthal, Pearson, Fong & Frew, LLP, we have beenhelping many clients with this analysis.

Your CPA should also play a strong role in creating and strengthening banking relationships, tax and strategicplanning, and providing resources and contacts for special needs. Get your CPA “team” rolling, and come out on top. Call us at (310) 539-9400 or visit www.RPFFCPAs.com if we can help!

*Study by The National Association for Business Economics



��

��

��

�� !��"#�$�� "��%��

�� &��'��(�!��)��* ��'�� +,�'��!-� �� .��

�� ,/01 �� 2 �� 3 4515/ � � �� ,/// �� 2 �� 3 4515/ � � ��




Good-All-Around:Protecting Information, Job Opportunities

and the Environment

Shred-4-Good is a secure document destruction facilityand the newest business ofGoodwill, Serving the Peopleof Southern Los AngelesCounty. Shred-4-Good servesbusinesses in the South Bayand Long Beach areas. Today,many organizations, particu-larly those in the healthcare

and financial fields, are bound to meet security and privacyregulations and/or required to comply with new legislations.HIPPA, GLB and FACTA are acts that all businesses should beaware of in the areas of security and privacy.

HIPAA The Health Insurance Portability and AccountabilityAct (HIPAA) was passed in 1996. HIPAA defines requirementsfor access to and storing of patient information. It is designedto protect confidential information through improved securitystandards and federal legislation. Health plan and healthcareproviders were required to be in compliance by April 14, 2003.

The Gramm Leach Bliley Act (GLB) was signed in 1999 andensures that “financial institutions” respect the privacy oftheir customers and protect the security and confidentiality of consumer financial information (nonpublic personal infor-mation) collected when an individual obtains a “financialproduct or service.” The FTC chose to retain a broad defini-tion of “financial institution,” “nonpublicpersonal information,” and “financialproduct or service.” For example, thedefinition of financial institution encom-passes retail sellers of goods if theyassist consumers in obtaining credit orextend credit themselves (automobiledealerships for example). Financial insti-tutions were required to be in complianceby July 1, 2001.

FACTA (or FACT Act) is the Fair andAccurate Credit Transition Act, a brandnew federal law designed to reduce the

risk of consumer fraud and identity theft created by improperdisposal of consumer information. FACTA applies to virtuallyevery person and business in the United States. FACTArequires that “any person who maintains or otherwise pos-sesses consumer information for a business purpose” mustproperly destroy discarded consumer information by takingreasonable measures to protect against unauthorized accessto or use of the information in connection with its disposal.

Shred-4-Good is AAA certified by the National Associationfor Information Destruction. Its vehicles are secure and constantly GPS monitored. Employees are uniformed, back-ground checked, bonded and fully insured. The Shred-4-Goodfacility is fully protected with the latest in security, alarm, andvideo monitoring, and the equipment provides state-of-the-artshredding to meet stringent requirements of the FederalGovernment. Best of all, using the services of Shred-4-Goodgives businesses the opportunity to give back to the community.Goodwill Serving the People of Southern Los Angeles Countyprovides valuable training and work experience to people withbarriers to employment. As most businesses understand, itdoes not pay to take short cuts with sensitive information.

For more information, to request a quote or to schedule anappointment to tour the facility please call Andrea Estrada at562-216-5256.

��

��

Shred-4-Good and Goodwill Help Businesses Meet Security and Privacy Regulations

El Camino College:Preparing the Future Workforce

18 OCTOB E R 2009



The first day of class is always anactive, energetic time at El CaminoCollege, as students return to cam-pus in full force for the fall semester.This fall, the Torrance-area collegeexpects to welcome the largest classof students in seven years.

Experts point to the recession toexplain the recent enrollment gains,with many students returning toschool to earn university-transferablecredits, improve existing job skills, ortrain for an entirely different career.

“Our students are motivated toachieve their goals; they are herebecause they want to be here and wewelcome them,” said Thomas M.Fallo, superintendent/president of ElCamino College. “We know thattoday’s students’ academic needs arefar-reaching, that’s why we offer avariety of courses from those thattransfer to the university level to career training programsthat work with our business partners.”

The college’s workforce partners have indicated thatskilled employees are needed now and in the future. Inresponse to this demand, El Camino College offers manyprograms designed to prepare students for the modernworkplace, such as the highly successful MESA (Math,Engineering, Science Achievement) program, which offersstudents support in transferring to four-year institutions inmathematics-based majors.

Other programs include training for women in industryand technology careers and STEM (Science TechnologyEngineering and Mathematics) programs designed toincrease the number of students attaining degrees in thesefields. El Camino College is also working with the WorkforceInvestment Board to enhance career/technical educationofferings.

With the current economy comes an increased need infinancial assistance. Financial Aid is available in a variety offorms, from grants and scholarships to loans and workstudy. Eligible students can receive up to $5,350 in grants –all students are encouraged to apply to see if they qualify.

Nearly 300 ECC students were awarded scholarships thispast spring, for a total of about $290,000. In addition, thecollege recently announced the launch of a fund-raisingdrive in support of the statewide Osher ScholarshipEndowment Program, which includes plans to raise $1 millionin matching funds to offer scholarships to the neediest of El Camino College’s students.

“How we prepare today’s students to meet tomorrow’schallenges is our first priority,” said President Fallo. “Byoffering the best academic environment possible and expertguidance, we provide vital community resources essential tolong-term achievement. Access to a quality college educa-tion is critical to the success of our students.”

“Through cultivating partnerships with area businesses,supporting a variety of outreach programs, and promotingexcellence through academics, El Camino College is an integral part of our South Bay community, a force that unifies us all.”

For further information, please contact Ann M. Garten,Director Community Relations, El Camino College at 310-660-3406, [email protected]

Phot

os :

WIT

Elec

tron

ics:

by

Hill

Str

eet

Stud

ios;

Con

stru

ctio

n &

Aut

omot

ive:

by

Dw

ight

Ued

a, E

l Cam

ino

Colle

ge




Nearly 3 out of every 4 employees feel personal financialstress, according to a survey conducted by Public Policy Pollingof Raleigh, North Carolina.1 Up to “…80% of ALL workerswaste time at work on money issues. 2 ” Financial stress hasalso been linked to health problems. At best this pressure provides a major barrier to being focused on tasks at hand. A worse – and more likely – scenario is that 8 out of 10 peopleat the office have been dealing with personal financial prob-lems while at work including simply checking on a credit cardpayment. One measure-of-breadth for workplace impact hasbeen provided by Employee Assistance Program (EAP) requestsfor help related to financial problems. Having confidence inEAP to help with health issues, employees have been swarm-ing EAP coordinators with calls. Employee-assistanceproviders Ceridian and CompPsych reported financially-relatedcalls for counseling have increased as much as 300%.3

An Opportunity To Gain Competitive AdvantageYou may be amazed to learn that while only 27% of employers

offer workplace financial literacy programs, 80% of financiallystressed employees would participate.4

Bottom line benefits have been documented to extend farbeyond productivity improvements. For example, employeeturn-over can be reduced. Perhaps more importantly, excellingat helping employees navigate through personal financialissues could strategically position a company to attract andreward top talent. Many companies have been seeking waysto reduce costs in response to sales-hits the economy hasbeen delivering. Finding ways to reward and retain employeeswhile keeping costs – especially payroll – from rising hasbecome a bigger challenge than ever. Providing financial liter-acy training has been documented as a key strategy. Even theFederal Reserve Board has taken notice with commentsindicating a shift towards more employer responsibility in this area.5

The Right Approach Can Yield 9:1 ROI6Typical workplace tactics used in the past have proven in-

effective. As the saying “…my 401(k) is now a 101(k)…”becomes a common joke, how long is it before employees start

looking to their employers as anavenue for restoring the retirementsavings lost? ERIS compliance hasincluded financial education as part ofthe requirement - though with vaguelanguage - creating a potential risk. At the same time, companies imple-menting financial literacy educationhave experienced great returns ontheir efforts. Research by Professor E.Thomas Garman of Virginia Tech provides guidelines for minimum education requirements, along with 10 key businessmeasures that should be positively impacted by effective financial literacy education.7 The key has been frequent education instead of sales or meetings designed compliancewith minimum ERISA requirements.

Whenever education gets mentioned, I have a tendency tovisualize high-school with a completely humorless geographyteacher. And a monotone voice like Ben Stein. That’s NOTwhat “workplace education” means. For example, effectivelunch-and-learn events may be delivered so that half of thetime covers presentations and half discussion. Again, the key is effective adult education.

Fortunately, many organizations have been responding tothe increasing need for professional-education level workplaceevents. Some are non-profit organizations that deliver educational content pro-bono. Others are for-profit trainingand consulting firms. In Southern California, three non-profitorganizations – Herocare, National Institute For FinancialEducation, and Society for Financial Awareness – provide highquality financial literacy education to employers. These organi-zations do not charge for their services by working with highlytalented professionals that teach on a pro-bono basis. Wouldit be worth 15 minutes of your time to find out if your employeeproductivity, morale, and could be improved through NO COSTfinancial literacy education? Contact me for a FREE REPORTtitled “Improving The Bottom Line: Workplace FinancialLiteracy Education And Employee Assistance” to learn more.

1 “Financial Stress Squeezing Employees,” Paul Gallagher, Human Resources Executive Online, July 22, 2008. 2 Garman, E.T., Junk, V.W., Kim,J., O’Neill, B.J., Prochaska-Cue, K., Prawitz, A.D., Lawrence, F.C., Yao, R., Weagley, R.O., Weisman, R.L., Carnathan, G., Schaus, S., Hutcheson,M.D., McKinley, D.H., Brook, M.J. (2005, March 22). Financial Stress Among American Workers, Final report: 30 million workers in America—One in four—Are seriously financially distressed and dissatisfied causing negative impacts on individuals, families and employers.Independent report from the authors that is available at www.EthomasGarman.net. 3 “Workers’ financial stress may hurt productivity,,””Stephanie Armour, USA Today, September 5, 2007. 4 “More employees report floundering financially,” Kelly M. Butler, Employee BenefitNews, February 2, 2006. 5 Transcript, Consumer Advisory Committee, Federal Reserve Board, http://www.federalreserve.gov/generalinfo/adviscoun/cac/transcripts/2005/200510/october05transcript.htm. 6 National Institute For Financial Education. 7 www.PersonalFinanceFoundation.org

Employee Financial Stress May Be Costing Your Company

20 OCTOB E R 2009

The Economic Outlook at Mid-YearBy Jack Kyser, Founding Economist — The Kyser Center

For Economic Research at the LAEDC

The economic news continuesto be disturbing, and there will

be more bad news in the monthsahead. The economies of thenation, California and SouthernCalifornia have been in a deeprecession. Worse, for the latterthere will be fall out from thestate’s budget problems. This hascreated great uncertainty forcounty and city governments.

Nationally, real GDP will decline by -2.7% this year, followedby a +1.7% increase in 2010. The recovery, however, will be ajobless one. Nonfarm employment in the nation will declineby -3.9% this year and by -1.3% in 2010. The unemploymentrate will average 9.3% this year and 10.4% in 2010.

There will be similar trends in the state and Los AngelesCounty. Nonfarm employment in California will fall by -4.6%this year and by -2.1% in 2010. Employment in Los AngelesCounty will drop by -4.1% this year and by -2.0% in 2010.

However, there is some good news. It looks like we are atthe bottom of this recession, and by year-end 2009 a recoverywill be underway as measured by GDP. Everybody is lookingfor those “green shoots.” Here are some. The housing sectorlooks like it has hit bottom, and a modest increase in singlefamily home construction is expected in 2010. The resalehousing market should remain strong. However, there willcontinue to be more foreclosures. The auto industry alsolooks like it has bottomed out, but it is much changed. Theclosing of auto dealers has hit the budget of many cities hard.Retail sales have also hit bottom, but the consumer will continue to focus on value. Expect more store closings overthe balance of the year.

What is the detailed forecast for Los Angeles County? Thelargest employment losses this year will come in manufactur-ing (-38,800 jobs), followed by retail trade (-25,100 jobs) andconstruction (-20,100 jobs). International trade will continueto struggle, with declines in both the value of two-way tradeand the number of containers handled at the ports of LosAngeles and Long Beach. Tourism will also slide, while busi-ness travel will be weak. Just 6,500 new housing units shouldbe permitted in the County in 2009, a far cry from the 26,935units permitted in 2004.

The commercial real estate industry is also struggling.Office vacancy rates in the County have moved up to 14.8%,while the industrial vacancy rate has crept up to a still

U.S. Economic Growth

New Housing Starts

Los Angeles County Fundamentals





North Gateway

manageable 3.1%. In the latter market, firms are taking advantage of the situation to move to betterquality buildings in better locations, often at morefavorable lease rates. There is no comprehensivevacancy rate survey for the retail sector, but there is alot of space out there, in both mall developments andstrip retail. A lot of this space has an uncertain future.

What about the Southeast area of Los AngelesCounty (what we call “North Gateway”)? It is strug-gling, as the major employment sectors are manufac-turing, professional business services, and whole-sale trade. The area saw total employment declineby -3.9% in 2008, and a further decline of -5.3% isestimated for 2009. Industrial vacancy rates in thearea have moved up, to 3.1% in the second quarterof 2009 compared with 1.8% in the comparable 2008quarter.

What should a business do as we wait for therecovery to begin? Keeping costs under control is anobvious step. Also, check to see if there are somesupport programs that could be accessed. A lot ofbusinesses ask about sources of financing, and theLAEDC has put together a list that can be found onour web page (LAEDC.org). But there will be oppor-tunities that emerge from the economic chaos, sokeep a sharp eye out for them.

LL.AA. County Economic Development Corporation (LAEDC) offers a wealth of servicesto help you stay competitive, FREE OF CHARFREE OF CHARGEGE including...

•Cost Containment •Trade Facilitation •Finance Facilitation•Workforce Training •Business Incentives •Industry Data•Permit Assistance •Site Search

Call the LAEDC today and let us show you how we can help you keep your businessgrowing. We can make a difference.

CALL US at 888-4-LAEDC-1888-4-LAEDC-1 or VISIT US ONLINE at wwwwww.LAEDC.org.LAEDC.org

BUSINESSBUSINESSyouryour

TIMES ARE TOUGH, BUT HELP IS ONLY A PHONE CALL AWAY!

SUCCESSSUCCESS is ouris our

2009 Industry Winners & Losersin Los Angeles County



22 OCTOB E R 2009

Revenue Sources and Distribution for the City of Torrance

Twice a year, the City of Torrance offers a commissioners’orientation program. The program’s purpose is to provide Cityinformation to potential commissioners to assist them in performing their jobs as City commissioners. The orientationprogram is divided into four sections:• Finance and Budget• Roles and Responsibility of a Commission• Conflict of Interest and Agenda Requirements• Brown ActThis article is based on the finance and budget section of theorientation program and includes the “Budget Basics.”

The City of Torrance

The City is required to adopt a balance budget and the uses of funds (expenditures) cannot exceed the sources of funds(revenues). The largest of the City’s 55 funds is the GeneralFund. Some of the City’s other funds of interest: airport,water, cultural arts and parks and recreation. The top five revenue sources of the general fund for the 2009-10 fiscalyear are presented in the chart (shown right):

Property Tax $40.9 million

Sales Tax 38.7 million

Utility Users’ Tax 36.5 million

Occupancy Tax 8.3 million

Business License Tax 8.2 million

Top Five General Fund Revenues

2009-10 Budget

Property tax revenue is the City’s largest single revenuesource of the general fund distributed as follows (below):

This example demonstrates that of every dollar paid onassessed property, the City receives approximately 12.2%. On a home that is assessed at $341,000, the property taxamount due would be $3,410 of which the City of Torrancereceives 12.2 % or $416.This may surprise many. Most peopleare not aware that the property tax revenues are being sharedwith the school districts and the county.


Distribution of Property Tax

City Government - 101


F R O M T H E C I T Y O F T O R R A N C E


Another revenue source that is also shared, which is of equalsurprise to many, is the City of Torrance sales tax revenues.Sales tax is a tax on retail goods sold in the City of Torrance.The City expects to receive approximately $38.7 million insales tax revenues in fiscal year 2009-10. The allocation of thesales tax rate is shown in the following pie-chart:

The sales tax allocation chart shows that the current salestax rate in the City of Torrance is 9.75%. Torrance’s share ofthe tax rate is .75% with an additional .25% coming to theCity by way of the State Bond Debt (Triple Flip) budget action.The chart shows that the State receives the lion share of thefunds with the County (Co) receiving the remainder. Many ofthe allocations are the result of being placed on the ballot asa voter initiative such as the recently approved Measure R(.50% increase in sales tax to the county for transit and high-way improvements).

The last major revenue source is the City’s utility users’ taxrevenue. The utility users’ tax is a City tax applied on the use ofutilities. The current rate of 6.5% is very comparative to othercities and, because it is a City tax,it is not shared with otheragencies. The 6.5% rate is assessed on all utilities except waterwhose rate is 6%. The utility users’ tax generates approximate-ly $36.5 million annually to the general fund. Finally, here is adescription of tax revenues by using a pictorial perspective.The chart explains that for every property tax dollar paid inTorrance, the City receives 12.3 cents, for every sales tax dollarpaid, the City receives 10.3 cents and for every utility users taxpaid, the City receives 100%.

Occupancy tax and Business License tax are the final two rev-enue sources. Occupancy tax is a tax on room rentals chargedby hotels and motels in the City of Torrance. The occupancy taxrate of 11% is comparable to that charged by other cities andgenerates approximately $8.3 million. Business License is a taxcharged to obtain a license to operate a business in the City ofTorrance and is based on the number of employees. TheBusiness License tax generates approximately $8.2 millionannually. In addition, the following graph shows how themoney is used in other areas, such as police and fire, publicworks, community development and community services etc.

In addition, as shown on the pie chart on the right, from theGeneral Fund, the City’s Operating Budgets are then allocatedby function, such as police and fire in the areas of Safety, PublicWorks, General Government, and so forth. Having a betterunderstanding on the revenue sources for the City clearlyemphasizes the importance of doing business and supportingother businesses in Torrance!

This information was supplied and derived from the City ofTorrance’s Commissioner’s training and orientation program,prepared by By Ken Flewellyn, Assistant Finance Director, Cityof Torrance.

Sales Tax Allocation 9.75%

General Fund Top Three Revenue Sources

2009-10 General FundOperating Budget By Function

• Property Tax

• Sales Tax

• Utility Users Tax


F R O M T H E C I T Y O F T O R R A N C E

24 OCTOB E R 2009

Need an excuse to Reduce costs?Here Are Several: � Work-ready, pre-screened candidate pool � Training aligned to your needs

� Business retention strategies and resources AND� Lay-off and downsizing expertise � No-cost services

No-Cost Business Solutions can

Save You a Lotof Nickels!

Find out more! Call Business Solutions at 866.848.3321. Visit us at www.YourNextHire.biz.

To Contact the Torrance Office of Economic Development, call Fran Fulton 310.618.5807.

The Workforce Investment Network is administered by the City of Long Beach in partnership with the City of Torrance and the Employment Development Department.

Your Recovery Act Funds At Work

Equal Opportunity Employer/Program. Auxiliary aids and services available upon request to individuals with disabilities. To request a reasonable accommodation, please call 562.570.3738 or TTY 562.570.4629 at least 72 hours prior to event.

Job Creation Program Passes Halfway Mark

There is good news for the local economy. On August 27,Supervisor Don Knabe, Chairman of the Los Angeles CountyBoard of Supervisors, announced that the County is morethan halfway towards meeting its goal of employing at least10,000 people in temporary local jobs.

A total of 5,480 people have been employed as part of the 10,000 Jobs Initiative, so far. Of this number, 75% areyoung people between the ages of 16 and 24. Nearly 350businesses across the County have hired employeesthrough the program.

On March 3, 2009, Supervisor Knabe introduced the pro-gram, which utilizes almost $200 million in federal stimulusfunding to create temporary subsidized employment oppor-tunities in County departments, private sector employers,non-profit organizations, and in cities across Los AngelesCounty.

“We are continuing to move rapidly in getting these jobscreated and filled” said Supervisor Knabe. “The federalstimulus money we are using expires in September 2010, so we want these temporary workers to have the maximumamount of time in their jobs.”

Employers looking to hire workers or those looking for a job can visit the dedicated website atwww.employmentstimulus.org.

A total of 5,480 people havebeen employed as part of the10,000 Jobs Initiative, so far.

Your Laundry ValetCall 310-619-6225

for Pick-up

Commercial Linen Services

Fluff & Fold

Dry Cleaning

Alterations

www.StanberryLaundry.com


F R O M T H E C O U N T Y O F L O S A N G E L E S


C H A M B E R H I G H L I G H T S

Book your holiday luncheon, reception or dinner at the DoubleTree Hotel

Torrance/South Bay and receive a complimentarySparkling Wine or Apple Cider Toast

for your guests. Enjoy holiday decorations, complimentary mirror and votive candles foreach table! Parking is complimentary also! We have over 16,000 square feet of meeting/

banquet space to accommodate everyone on your list.

Enjoy our holiday brunches and New Year’s Eve Dinner.

Join Us for the Holidays!

Contact our Catering Professionals at 310.765.4426.

Leadership Torrance 2010With a 25-year history, Leadership Torrance (LT) is known for attracting outstanding professionalsand members of the Torrance community. These members are currently in leadership roles or seek to expand their network of top contracts. Leadership Torrance continues to be one of the Chamber’smost successful programs aimed at developing leadership skills and encouraging leadership intoaction. Through a series of daylong workshops, participants gain exposure to sites and individuals in city and county government, education, non-profit sectors and the business power base of the South Bay. For an application and additional details, please visit Programs & Events atwww.TorranceChamber.com or contact Maribel Denner at [email protected] or at310.543.6096.

January 21 - Evening Mixer January 22 - RetreatFebruary 4 - City Day

February 18 - County DayMarch 7 & 8 - Sacramento overnight trip

March 25 - Non Profit Day

April 8 - Education DayApril 29 - History DayMay 20 - Diversity/Cultural DayJune 10 - Business/Industry Day

July 1 - Emergency Preparedness DayJuly 22 - Graduation Day

The 2010 Schedule includes*:

*Dates still being confirmed and are subject to change.

26 OCTOB E R 2009


As state education funding continuesto shrink, the TACC Foundation'sAdopt-A-School program takes on aneven more important role in support-ing our local schools.

The program pairs TACC business-es with elementary, middle and sec-ondary schools to stimulate partner-ship between business and educa-tion. Business and schools shapetheir relationship based on theneeds and interests of each partner.

“Both schools and businesses canbenefit from the Adopt-A-School pro-gram,” said Tara O'Brien, TACC boardmember and vice chair of the TACCFoundation. “Our schools greatlyappreciate the support that busi-nesses provide in the form of dona-tions, services, or volunteer time.But the program also makes goodbusiness sense. By partnering witha Torrance Unified School, business-es can play a role in supporting thedevelopment of our future workforcewhile raising their profiles as goodcorporate citizens.”

The TACC Foundation kicked offthe 2009-10 school year with a newAdopt-A-School partnership betweenOutback Steakhouse and JeffersonMiddle School. Scott Easterday,operating owner of OutbackSteakhouse, explains why he choseto adopt the school:

“I have been involved withTorrance schools as long as I havebeen in business, so it was a naturalchoice for me to 'officially' adopt aschool. Signing up was as easy asexpressing interest in the program,choosing from a list of availableschools, and attending a meetingset up by the Torrance Chamber.During the first meeting, the busi-ness, school and chamber establisha mutually beneficial relationship.There is no limit to what we can dofor each other, as each partnership

TACC Offers Ben-e-lect Health Insurance SavingsExciting news about a new group medical program now available for membersof the Torrance Area Chamber of Commerce. The program is Ben-e-lect and itpromises to lower the cost of group medical plans without reducing benefits.

The results prove that the Ben-e-lect Plan will:• Lower a group's cost by 30% or more• Improve benefits in nearly every situation• Put members in control of their plans• Lower cost and improve benefits

If you would like to see how the Ben-e-lect Plan will work for your busi-ness, contact the Chamber at 310-540-5858 and they will put you in contactwith a TACC member agent or Ben-e-lect directly.

Ben-e-lect and TACC members who are authorized agents will be contact-ing all members shortly to provide more information and proposals to anymember interested in lowering the cost of its group medical plan.

If a Chamber representative contacts your business, please allow them thetime to show you how the Chamber's Ben-e-lect Plan can work for your busi-ness. This is a real opportunity for business to gain control of the cost oftheir group medical plan. TACC insurance agencies in good membershipstanding can also contact TACC for information on becoming a Ben-e-lectrepresentative.

Adopt-A-School ProgramLaunches New School Year




The Torrance Area Chamber of Commerce’s ProfessionalRoundtable of Financial Services (PROFS) group providesmembers with access and education within the financial services community. This monthly meeting draws in a range ofrepresentatives from various fields including accounting,banking, business consulting, financial planning, insurance,legal, mortgage and real estate industries.

The meetings do not only provide members with professionalskill development, but PROFS also strives to create monthlymeetings that are worthwhile to help members understandthe unique skills and specialties that other professionals provide to their clients. Knowing who is in the Torrance-areafinancial community, what these professionals have to offer,and how those offerings can benefit others are among themany reasons members regularly attend a PROFS meeting.

Access to business is another plus of the PROFS meetings.The formats include pure networking and team buildingand/or guest speakers who provide education on financialmatters including tax planning strategies, estate planning,health savings accounts, reverse mortgages and other timelytopics.

The PROFS meetings take place thelast Thursday of the month, with theexception of November and December.Please check out the TorranceChamber website at www.torrance-chamber.com or contact the DivisionalChair of PROFS, Richard Welling, CPAat [email protected] or Jeffrey Wolfe,CMPS at [email protected] for more information.

TACC Committee Highlight: Professional Roundtable of Financial Services (PROFS)

“When revenue has to improve,a coach accelerates results.”

Doug QuackenbushLeadership & Business

Performance Coach

TheBusiness CompassA Coaching Program for Putting Ideas into Action

310.937.5951 | [email protected] | www.TheBusinessCompass.com

This monthly meeting draws in a range of representatives from variousfields including accounting, banking, business consulting, financial

planning, insurance, legal, mortgage and real estate industries.

From Space Planning and Architecture to Move Management let Reuter & Reuter, Inc. achieve your dreams. We offer Architectural Interior Design and Furniture solutions for the business world.

Our team is experienced in office, medical, and bank designs, as well as code analysis and Conditional Use Permits. Our primary focus is interior design, with new shell buildings from the ground up also contributing to our client base.

Susan Reuter offers the finishing touch with new furniture at affordable pricing and used options through a network of resources.

DEAN T. REUTER / PRINCIPAL 23001 Hawthorne Blvd., Suite 204 Torrance, CA 90505T: 310.793.7070 F: 310.793.7046 E: [email protected]

can be catered to the specificneeds of each entity.”

Outback Steakhouse hasalready begun supportingJefferson Middle School by pro-viding awards for the school'steacher and student of the monthprograms. In turn, JeffersonElementary has helped marketOutback Steakhouse by exposingmore people to the restaurant'sname and delicious food.

The TACC Foundation is seekingbusiness partners to adopt thefollowing schools: LAUNCHPreschool (on the campus ofArnold Elementary), AnzaElementary, Arlington Elementary,Arnold Elementary, FernElementary, Yukon Elementaryand Shery High School.

For more information about the TACC Foundation's Adopt-A-School program, please contactAmy Herrschaft, special events coordinator for TACC, at (310) 543-3113.

28 OCTOB E R 2009

CalChamber Offers Business New Resource to Protect Customers’ Credit Card Data


August 6, 2009, a brand-new book providing vital informa-tion for businesses on protecting customers’ personal datais now being offered by CalBizCentral, the source forCalifornia business and human resource compliance prod-ucts, presented by the California Chamber of Commerce.

Take Charge: Protecting Your Customers’

Credit Card Data, by award-winning securityexpert Jay Cline, makes clear the security stan-dard, known as the Payment Card Industry (PCI)Data Security Standard (DSS). PCI DSS wasdeveloped to encourage businesses to adopt acardholder data security policy. If businesses arenot PCI DSS compliant, merchants face signifi-cant fines from their banks.

Providing a step-by-step action plan, Take

Charge is designed to help businesses avoid common, inad-vertent mistakes that contribute to credit and debit cardfraud. This new guide specifically targets the countless Level4 merchants, which are businesses that handle fewer than 1million total credit and debit card transactions and fewerthan 20,000 online transactions annually.

Major payment-card companies, such as Visa, MasterCard,American Express and Discover, require any business, largeor small, that processes, stores or transmits payment-carddata to comply with the PCI DSS.

“In today’s environment, protecting cardholderdata is a smart investment and a necessary costof doing business for both large and small busi-nesses,” said Jennifer Fischer, director ofPayment System Risk, Visa Inc. “In fact, a recentVisa review of fraud cases found that small busi-nesses account for the vast majority of creditand debit card data breaches. We believe thatTake Charge will provide important insights forcompanies that need help understanding the PCIDSS, and in turn, will better protect the valuableconsumer information with which we have eachbeen entrusted.”

Visit CaBizCentral.com to order Take Charge: ProtectingYour Customers’ Credit Card Data.

The TACC Foundation, in partnershipwith Toyota Financial Services (TFS),initiated the award-winning Mentorprogram this October. As the secondinstallation of the program with NorthHigh School, approximately 30 Chambermembers and TFS employees are lookingforward to participating in the program asmentors.

TACC Mentor Program Begins This Fall

The Mentor program pairs NorthHigh School sophomores withTorrance Chamber members and overthe span of three years, Mentors andstudents will meet approximately oncea month while building a relationshipon mutual respect. Throughout theprogram, the students will identifygoals and develop plans to achievesuccess into their young adulthood.Mentors have the opportunity to provide insight, understanding anddirection while guiding the studentsthrough some of the most influentialyears of their young lives.

For additional information, pleasecontact Amy Herrshaft, at TACC [email protected] or (310) 543.3113.


R I B B O N C U T T I N G S

Comerica Bank opened the doors to its new location on June 11, 2009.Address: 21153 Hawthorne Blvd., Torrance, CA 90503Phone: 310. 316. 7111 Fax: 310. 316. 7990Hours: Mon-Thurs 9am-5pm, Fri 9am-6pm, Sat 9am-1pmwww.comerica.com

nTyme Ribbon Cutting North Torrance Youth Musicians Ensemble (nTyme) celebrated its introduction to Torrance on June 26, 2009.P.O. Box 6191Torrance, CA [email protected]

Malaga Bank celebrated the grand opening of its new location on July 30, 2009.Address: 25700 Crenshaw Blvd., Torrance, CA 90505Phone: 310.784.2000 Fax: 310. 784. 0326Hours: Mon-Thurs 9am-5pm, Fri 9am-6pm, Sat 9am-1:30pmwww.malagabank.com

To schedule a ribbon cutting, grand opening or ground breaking ceremony, please contact Kelly McLeod at 310-792-3808 at the Chamber no later than one month prior to the event and provide two preferred dates.

A fee of $50 will be due to the Chamber prior to planning the ceremony. Payment can be made in check, cash or credit card.

The best time to schedule a ceremony is at 11:30-12:30pm or 4:00-5:00pm on a Wednesday or Thursday.

To gain the greatest exposure with this marketing opportunity, the business will have the responsibility to invite its clients, customers and special guests.

Ribbon Cutting CeremonyHOW TO PLAN FOR A

�

�

�

�

30 OCTOB E R 2009

C H A M B E R E V E N T S

American Honda Motor Co, U.S.A. and Chamber HelpTorrance Memorial Raise $76,000

From Food & Wine Fest

In partnership with American Honda Motor Co., U.S.A., Inc.and the Torrance Area Chamber of Commerce, TorranceMemorial Medical Center raised more than $75,000 as thebeneficiary of the 23rd Annual Gourmet Food and WineFestival, Evening Under the Stars. Proceeds were raisedthrough ticket sales, an opportunity drawing and silent auction benefiting the medical center’s planned New Patient Tower and pediatric services.

More than 800 guests came to the Honda campus inTorrance to sample tastings of food and wine from 35 SouthBay restaurants and wineries and hear renowned pop and jazz saxophonist Michael Paulo. This event marks the fourthtime Torrance Memorial has been chosen as the recipient ofthis popular festival hosted by American Honda and theTorrance Area Chamber of Commerce.

The success of the silent auction, which netted $27,500,was due, in part, to the hard work of the Luminaries, a volun-teer support organization of Torrance Memorial, and SilentAuction Co-chairs Susan DiLeo and Danielle Lauro.

In addition to the festive atmosphere, guests enjoyed theanticipation of the opportunity drawing for the 2010 HondaInsight donated by American Honda, when Torrance MemorialPresident and CEO Craig Leach and American Honda’s StephanMorikawa drew the winning ticket. The winner was formerTorrance Memorial volunteer Dana Fors of Palos Verdes.

Proceeds raised through raffle and event ticket sales benefited Torrance Memorial’s new main patient tower, which will increase hospital bed capacity for the South Baycommunity by 25 percent. In addition, the project will bring400 construction jobs and 200 permanent jobs to the area.Slated to begin construction in January 2010, the seven-story,390,000-square-foot tower will bring state-of-the-art care,convenience and comfort to patients and their families.

Torrance Memorial Medical Center is a 401-bed, nonprofitcommunity medical center offering full-service healthcare tothe South Bay for more than 80 years. Visit www.TorranceMemorial.org for information about programs and services.

Left: Luminaries Silent Auction Co-Chairs Susan DiLeo and Danielle Lauro; Center: Torrance Memorial Chief Medical Officer John McNamara,

M.D., Laurence McNamara, Lee Reitler, M.D., Sally Reitler ; Right: Melanie and Richard Lundquist

Proceeds raised through raffle and event ticket sales benefitedTorrance Memorial’s new main patient tower, which will increase

hospital bed capacity for the South Bay community by 25 percent.


U P C O M I N G E V E N T S

Torrance Area Chamber of Commerce2009-2010 CALENDAR OF UPCOMING EVENTS

October 7Adopt-A-School CeremonyOutback Steakhouse & Jefferson Middle School

8:30 a.m. at Jefferson Middle School

21717 Talisman Street Torrance, CA 90503

October 13 State of the Region Addresswith Congresswoman Jane Harman

registration starts at 11:30 a.m. and program will begin

at 12:00 p.m. Located at the Torrance Marriott South Bay.

For more information, please contact the Chamber office.

October 15 Ribbon Cutting with Cash America 11:30 a.m. Located at 3957 Artesia Blvd. Torrance,

CA 90504

October 29 The 2009 Annual Business ExpoHelping to create a strong local economy, the TACC

Business Expo provides members with an opportunity to

meet new business. With approximately 500 business

members and visitors, participants have the opportunity to

gain new contacts and potential clients. The Business Expo

will take place at the Torrance Marriott from 4:00 p.m. to

7:00 p.m. and exhibitor space is limited and only available

by reservation. See Further Information on page 3.

For more information contact the Chamber at

310-540-5858 or visit www.TorranceChamber.com

November 5 LTAA Leadership Symposium7:30am – 1:30pm - Location TBD.This Symposium

is targeted to entrepreneurs, business owners,

executives and mid-level managers in the South Bay area.

This unique half-day seminar will consist of panel discus-

sions, breakout sessions and a featured keynote speaker.

See Further Information on page 13. For more information,

visit www.Torrance- Chamber.com or contact Lynn

Cardarelli at 213.304.8866 or Pat Sandt at 310.346.6343

[email protected]

For more informationvisit us

on the web www.torrancechamber.com

November 11 Japan Business ReceptionCheck in starts at 5:00 p.m. the dinner and program

starts at 5:30 p.m. Located at the Doubletree Hotel.

For more information, please contact the Chamber

office.

December 3 Regional Holiday Chamber Mixer 5:30-7:30 p.m. Located at Torrance Memorial Medical

Center. Cost: $10-includes one drink ticket. Fantastic

raffle prizes and tickets available! Hors d’oeuvres, beer,

wine and soft drinks! RSVP is a must, by November 30.

For more information of to RSVP please call

(310) 377-8111 or office@ palosverdeschamber.com

32 OCTOB E R 2009

Bridge BetweenWestern & Asian Medicine

TREATMENT PROGRAMS FOR• Weight Loss • Infertility

• Quit Smoking • Drug Addiction

STRESS REDUCTION TREAMENTSIn my office or at your place of business

For a FREE consultation call Laura Sedgwick, M.S. LAC

310-422-9058EMAIL: [email protected] WEB: www.hygeiasbowl.com

Located in Torrance

U P C O M I N G E V E N T S

October Shows at the Grand Vision Foundation

Saturday, October 3, 2009 | Doors 7:30pm | Show 8:00pm

Jennifer Leitham Jazz TrioA night of unforgettable cool, crisp jazz from LA’s most in demand bassist.


Sligo RagsStars of the Celtic Americana world, two- time winner of the OC Fair

“Best Folk Band” and South Bay Favorites!


The Perfect GentlemenAward-winning vocal quartet performing songs from the 1920s-50s.

On-the-mark harmony with a hilarious stage performance.


Gary Allegretto with Ian Espinoza

With True West Magazine’s “2009 Best of the West”

award under his belt, this singer and harmonica virtuoso

takes us out on the cowboy trail. With guitarist Ian Espinoza

for more information see www.grandvision.org or call 310.833.4813The Grand Vision Foundation 434 W. 6th St. | San Pedro, CA

You’ve never experiencedwhat fun Halloween

can be if you haven’t beento the Halloween Ball.Considered by many as oneof the premiere events inthe South Bay and attend-ed by over 700 people, thisis PTN’s largest fundraiserand an excellent way tosupport our work with children with specialneeds. Enjoy a hauntinglygood time as the famedDepot Restaurant’s ChefMichael Shafer puts on ahuge party. The festivitiesinclude dancing to a liveband, costume contest, live and silent auctions, amartini bar and a freakishlydelicious buffet dinner pre-pared by the Chef. Ticketsare $100 per person.

Save the Date!Sun, Oct 18, 4-9pm

For event details and tickets, please visitwww.PediatricTherapyNetwork.org

THE DEPOT’S14th ANNUAL

HALLOWEEN BALLBenefiting Pediatric

Therapy Network

THE DEPOT’S14th ANNUAL

HALLOWEEN BALLBenefiting Pediatric

Therapy Network

I N T H E C O M M U N I T Y


N E W S B R I E F S

David I. Meyer, PhD, a prominent research administrator, educator and scientific leader, became the new president and CEO of the Los Angeles Biomedical Research Institute atHarbor-UCLA Medical Center (LA BioMed) on Sept. 1.

Dr. Meyer replaces Carole Wagner Vallianos, Esq., who has been serving as president and CEO in an interim capacitysince September 2008. Wagner Vallianos, a former chair ofthe LA BioMed Board of Directors, rejoins the board as itsimmediate past chair.

“Dr. Meyer is a dynamic individual with a great track recordas a researcher, a teacher and an effective manager,” said LABioMed Board Chairman Scott Somers. “All of us who havehad the chance to meet him during our selection process havecome away with a sense of excitement about the possibilitiesand opportunities for LA BioMed to move forward under Dr.Meyer’s leadership.”

A Los Angeles native, Dr. Meyer completed his undergraduateand doctoral work at UCLA. After obtaining a PhD in biology,

About LA BioMed Founded in 1952, LA BioMed at Harbor-UCLA Medical Center is one of the country’s largest nonprofit independent biomedical research institutes. It conducts biomedical research, trains young scientists and provides communityservices, including childhood immunization and nutrition assistance. The institute’s researchers conduct studies in such areasas cardiovascular disease, emerging infections, cancer, diabetes, kidney disease, dermatology, reproductive health, vaccinedevelopment, respiratory disorders, inherited illnesses and neonatology. LA BioMed is academically affiliated with the David Geffen School of Medicine at UCLA. For more information, please visit our website at www.LABioMed.org

LA BioMed Board Chooses Prominent Research Administrator

To Be New President and CEODavid I. Meyer, PhD, Assumed New Post on Sept. 1

he spent 13 years in Europe as a researcher, instructor anddean of graduate studies. In 1987, he returned to SouthernCalifornia, where he has played a vital role in the advance-ment of medical and scientific research for more than twodecades.

He was a professor and senior associate dean at the David Geffen School of Medicine at UCLA, vice president forresearch and scientific affairs at Cedars-Sinai Medical Centerand, most recently, executive vice president for research atthe House Ear Institute in Los Angeles. He also has pursuedhis own research in biochemistry and cellular biology.

“I am thrilled to be joining a research institute with such adistinguished history and a promising future,” said Dr. Meyer.“My goal is to create a research enabling environment thatwill allow LA BioMed to become highly competitive in therecruitment and retention of outstanding scientists. I look forward to working with the board, the faculty and the staff tocontinue to strengthen and build the research enterprise andtrain the scientific leaders of tomorrow.”

“Speaking on behalf of the entire Board of Directors, I wishto express our gratitude to Carole for serving as president and CEO this past year,” Somers said. “At no small personalsacrifice, she has stepped in to provide stability, continuityand good sense in leading LA BioMed.”

My goal is to create a researchenabling environment that will allow LA BioMed to become highlycompetitive in the recruitment andretention of outstanding scientists.David Meyer (right) signs contract to be president

34 OCTOB E R 2009

N E W S B R I E F S

Torrance Memorial Awards College Scholarships

Torrance Memorial Medical Center recently awarded 16 scholarships of $5,000each to college students who are pursuing healthcare careers, including 10nursing students and students in speech pathology, pharmacy, and physicaltherapy. The scholarships were made possible through funds raised byTorrance Memorial's volunteer support group Las Amigas and the TorranceMemorial Health Care Foundation. Torrance area awardees pictured are:

(left to right) Ashlee LaCharite, Eileen Kay Temblique, Anthony Arce, Christine

DeSario, Emily Sitter, Stephanie To, Brandon Hirai and Linzy Branson.

Fan of Business (FAN) Presents Donation to PTN for their Summer Camp Program FAN is a networking group that includes a premier coalition of professionals and executives in the South Bay. The group’sgoals are to collectively maintain the highest standards of quality, ethics and community service. For more info about FANvisit www.FanOfBusiness.com.

Benefitting Retired & SeniorVolunteer Program (RSVP)

was a BIG SUCCESS!Presented by Providence Little

Company of Mary MedicalCenter and

Sponsored byRed Car Brewery & Restaurant,

Torrance Memorial MedicalCenter, Exxon Mobil

Corporation, Radium, American Honda Motor Co.,

Inc., Toyota Motor Sales USA,Inc., Mine Designs,

Keyline Litho, Carving, Wisent Enterprise and

the Daily Breeze. This community event, held on

August 31st, brought majorawareness to the the shops and

restaurants in Old Torrance.

Old Torrance Block Party


C H A M B E R B E N E F I T S

1-10 $235

11-20 $300

21-40 $375

41-60 $500

61-100 $750

101-150 $950

151-200 $1150

201-250 $1350

251-300 $1550

301-400 $1950

401-500 $2200

501-600 $2500

601-700 $2700

701-800 $2900

801-900 $3100

901-1000 $3300

Community Volunteer $100

Number ofEmployees

AnnualMembershipInvestment

I Would Like to Become a Member

36 OCTOB E R 2009

C H A M B E R B E N E F I T S

��

��

��

��

�

�

��

��

��

��

3330 Lomita Boulevard, Torrance, California 90505

www.TorranceMemorial.org | 310.325.9110

behind our planned patient tower:

You. At Torrance Memorial Medical Center we believe caring for our community means

caring for its future. Welcome to the Hospital of Tomorrow — the next generation of

medical care, for the next generation of patients. Seven stories of modern hospital

design, our new patient Tower anticipates the growing healthcare needs of our

community with enhanced access to the latest medical technologies and an entirely

new level of patient care.

Home to our new operating rooms, Intensive Care Units, the Lundquist Cardiovascular

Institute, and Burn Center, the new Tower also offers private patient rooms, a healing

garden, lounges and sleeping accommodations for family members. Ample parking

and a convenient entrance make these vital patient services even easier to access.

The new Tower is scheduled for completion in 2014, but advancements are already

underway across our entire campus. We look forward to sharing our progress, and to

meeting your healthcare needs today, tomorrow, and for generations to come.

First for a Reason.And the Reason is You.

The inspiration

Banquet Facility

The UltimateDestinationfor your Celebration!

310-833-3553BERTH 76 LA HARBOR PORTSOCALLDINING.COM

310-548-8080BERTH 77 LA HARBOR SPIRITMARINE.COM

Holiday

Party Planning? We’re the South Bay’s Best ... Again!SPIRIT CRUISES PORTS O’ CALL WATERFRONT DINING

Are your plans for 4, 40 or 400?No Problem. We offer packages and accommodationsthat make each occasion like no other. Every vista isan ever-changing waterfront experience.Exquisite Coastal California Cuisine,Thoughtful Staff and Exceptional Service await you. With the new “Ultimate Package” featuringwine-pairings, our Holidayofferings are even morespectacular than ever.

Climb aboard and let the fun begin!A Spirit Cruise is an Instant Party complete with all youneed to relax and enjoy, while the majesty of the Harborslips by. We have three Yachts designed for yourcomfort, and a wide range of packages andoptions, each inclusive of the YachtCaptain, Crew, Food, Drink,Music, and of course,FUN! So take a holidayfrom planning and bookwith Spirit Cruises today.

2009

18th Annual Readers Poll

Torrance Area Chamber of Commerce3400 Torrance Blvd., Suite 100Torrance, CA 90503

PRST-STDU.S. Postage

PAIDTorrance, CA

Permit No. 54

Here’s ourOctober 2009issue.For comments and submittals, contact [email protected] call 310.373.2880

For advertising opportunities, contact [email protected] call 310.317.0841

Our Januar y 2010 theme is :

Technology

Torrance Magazine ~ October 2009

Documents

Transcript of Torrance Magazine ~ October 2009