VICA Weekly
Valley Industry & Commerce Association

November 11, 2022

In This Issue
  • Election 2022 Results
  • VICA Wins on Propositions
  • VICA-PAC Candidates Leading
  • VICA Voices Support to End COVID Eviction Protections
  • Powerful and Effective Advocacy Isn't Cheap

"This election has always been about those that have felt left behind and unheard. As your mayor, I will imagine always what we can do, instead of making excuses for what we can't do."

Mayoral Candidate Rick Caruso

Tuesday's Election Night Campaign Rally

Election Week 2022 Results

Over the last few weeks, voters mailed in their ballots and headed to the polls for early voting, but Tuesday marked the culmination of months of work by VICA. VICA's Board vetted various measures and candidates on this year's ballot, considering how each proposition and candidate would impact the business community.

Ballot Measures

VICA took positions on eight state and local measures this year with a 75% success rate based on current results. VICA is proud that our advocacy proved successful on the following campaigns:

  • Proposition 26 | Permit In-Person Sports Betting - FAILED: Prop 26 would permit adults 21 and older to place in-person bets on sports events at tribal casinos and racetracks and allow entities to file civil suits against cardrooms, risking the closure of sources of revenue for local municipalities.

  • Proposition 27 | Online Sports Betting Ballot Initiative - FAILED Prop 27 would legalize the most significant expansion of gambling but lacks critical safeguards to prevent underage gambling, with 90% of profits going to out-of-state entities.

  • Proposition 29 | Dialysis Clinic Standards - FAILEDProp 29 would have raised the cost of dialysis treatment by adding burdensome requirements for clinics.

  • Proposition 30 | Income Tax for Climate investment Initiative - FAILEDProp 30 would impose a new 1.75% income tax on incomes over $2 million to fund electric charging stations and is entirely supported by a single company.

  • Measure SP | Parks & Recreation Facilities Tax - FAILEDMeasure SP is a massive parcel tax that would be imposed on all properties giving a $6.8 million slush fund to City Council.

  • Measure LA | Authorize LACCD Development - PASSEDa $5.3 billion bond measure that invests in the educational future of residents served by the country's largest community college district and provides funding to renovate and modernize facilities.

While VICA celebrates our current 75% success rate, we are disappointed with the outcomes of the following ballot measures:

  • Measure ULA | Tax on Property Transfers - PASSEDThe measure would impose new tax and labor requirements on private and commercial properties valued above $5 million dollars. This will increase the cost of building affordable housing.

  • Measure LH | Affordable Housing Authorization - PASSEDThis measure duplicates the LA City Council's ability to fund and build affordable housing in each council district.

VICA-PAC Endorsed Candidates

While most elections have yet to be called, several VICA PAC-endorsed candidates are currently leading their races as of November 10th update:

  • LA City Mayor: VICA PAC-endorsed Mayoral candidate Rick Caruso currently leads six-term congressional representative Karen Bass, 50.25% to 49.75%.

  • LA Board of Supervisors, District 3: VICA PAC-endorsed supervisor candidate and current State Senator Bob Hertzberg leads former mayor and councilmember of West Hollywood City Council, Lindsey Horvath, 50.28% to 49.72%.

  • LA County Sheriff: VICA PAC-endorsed Sheriff candidate and former Long Beach Chief of Police Robert Luna leads current LA Sheriff Alex Villanueva by a comfortable margin, 57.75% to 42.25%.

  • LA City Attorney: VICA PAC-endorsed City Attorney candidate Hydee Feldstein Soto currently leads Faisal Gill by a comfortable margin, 57.75% to 42.25%.

  • LA City Council, District 11: VICA PAC-endorsed council candidate and labor & civil rights attorney Traci Park leads Erin Darling, 54.96% to 45.04%.

  • LA City Council, District 15: VICA PAC-endorsed council candidate and former deputy city attorney Tim McOsker leads Danielle Sandoval, 65.23% to 34.77%.

  • CA State Assembly, District 40: VICA PAC-endorsed Assembly incumbent Suzette Martinez Valladares currently leads challenger Pilar Schiavo, 53.09% to 46.91%.

  • Santa Clarita Valley Water Agency, Division 1: VICA PAC-endorsed Board incumbent Bill Cooper currently leads other candidates, 65.53% to a collective 34.47%.

  • Santa Clarita Valley Water Agency, Division 2: VICA PAC-endorsed candidate and interim Board Director Dirk Marks currently leads other candidates, 56.97% to a collective 43.03%.

  • Santa Clarita Valley Water Agency, Division 3: VICA PAC-endorsed board candidate Maria Gutzeit currently leads challenger Lynne Plambeck, 51.65% to 48.35%.

VICA Voices Support to End LA City COVID Eviction Protections

VICA voiced support on Wednesday's LA City Council Housing Committee to ending COVID-19 era eviction protections.

The ordinance, if passed, would be on its way to the full council, where a 2/3 vote would require evictions to be based on "just cause" for a residential rental property in the City of Los Angeles.

The draft ordinance prohibits evictions without just cause and would apply to properties not already regulated by the City's Rent Stabilization Ordinance. It would require payment of relocation assistance to tenants evicted for a "no-fault" reason, such as for demolition and conversion of property purposes. The ordinance would also reconcile existing eviction protections and repeal duplicative or expired eviction provisions, including foreclosed properties, temporary prohibitions on no-fault evictions, and evictions for substantial remodeling work.

VICA will continue to monitor and advocate for lifting COVID-era policies and regulations.

Powerful and Effective Advocacy Isn't Cheap

As Southern California’s most influential business advocacy group, VICA is devoted to advancing the economic interests and opportunities of its members through effective legislative correspondence, civic leadership representation and conscious community engagement. This work has a cost, and the time has come to increase dues so that VICA’s critical advocacy can continue.

We understand that increased rates are not ideal. With that in mind, if you would like to keep your 2022 level dues for one more year, you can if you pay your dues in full by December 31, 2022. If you would like to take advantage of the 2022 rates, contact today. 

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VICA Thanks Our Renewing Members!

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VICA's 73rd Annual Meeting

Friday, December 9 | 11:30 AM

Sheraton Universal City

VICA concludes every successful year with a celebratory program for its members, volunteers, and business leaders from the Valley. VICA members will elect a new Board and Executive Committee for 2023 from a diverse set of businesses, organizations and industries.

VICA thanks our Presenting Sponsors Los Angeles Department of Water and Power, San Fernando Valley Business Journal and SoCalGas.

Register Here
AM-22_learn-more_600x480 image

Save the Date 

Sports, Entertainment, Tourism, Hospitality Committee Meeting

Thursday December 1st

8:30 - 10:30 AM

VICA Office

Sponsored by History for Hire 


View Calendar

VICA in the News

Caruso & Bass Make Closing Arguments in Final Days of Campaigning for Los Angeles Mayor

Fox News 11 | November 7

Prop 30--more money to fight wildfires or a Lyft grift?

KNX News on Demand | November 4

Election 2022: Westside, San Fernando Valley voters will choose new LA County Supervisor

Daily Breeze | November 8

Business Services Shorted by City Staff Needs

San Fernando Valley Business Journal | November 8

Sides Line Up Over Pay Law

San Fernando Valley Business Journal | November 8

Election 2022: Westside, San Fernando Valley voters will choose new LA County Supervisor

Whittier Daily News | November 8

Bass and Caruso in a Final, Frenzied Sprint

D1 SoftBall News | November 8

Hot News

The Red Wave Never Materialized

Pollsters and pundits for weeks warned of an impending "red wave" - an electoral Republican shellacking that would deliver a harsh rebuke of President Biden and Democrats. As of Wednesday morning, that "tsunami" Republicans hoped for never materialized. Inflation and the economy were not as damaging to democrats as they had feared. Analysts said that might reflect that the slowing economy has remained relatively healthy with continued growth and low unemployment. Historically, the incumbent president's party takes a drubbing in the midterms. Data from UC Santa Barbara suggests that a president's party has lost, on average, 28 house seats and four senate seats in every midterm between 1934 and 2018.

Stocks Tumble and Crypto Dives

Stocks and crypto fell Wednesday as unease flared in far-ranging corners of the financial markets, and Wall Street gave back a chunk of gains it had built in a rally running up to election day. The S&P 500 lost 2.1%, the Dow Jones fell 2%, and the Nasdaq fell 2.5%. Worries rose about possible spillovers into other markets from the crypto industry as prices plunged again, while a batch of sour profit reports from big-name companies hurt stocks. There is additional uncertainty about whether Tuesday's elections will result in a Congress that would prevent the kings of sweeping economic changes that make Wall Street nervous. Crypto has felt some of the worst pain from the Fed's move away from low-interest rates, but Bitcoin fell below $15,900 from its record high of $69,000 last year, and Ethereum dropped 17%.

Meta lays off 11,000 Employees

The Facebook and Instagram parent company Meta is laying off 11,000 people, 13% of its workforce, as it contends with faltering revenue and broader tech industry woes. Job cuts come just a week after layoffs at Twitter under Elon Musk occurred, with numerous job cuts occurring at other tech companies that hired significantly during the pandemic. Like other social media companies, Meta enjoyed a financial boost during the pandemic lockdown era, but as lockdowns ended and people returned to their activities, revenue growth began to falter. Spooked investors have sent company shares tumbling more than 71% since the beginning of the year after CEO Mark Zuckerberg poured $10 million into the "metaverse."

Robert Rivas to be Assembly Speaker

California Democrats voted in a new leader in the state Assembly on Thursday, selecting Assemblyman Robert Rivas after a chaotic hours-long power struggle over one of the top political positions in the state. Rivas will replace Speaker Anthony Rendon in June, marking an end to months of jockeying in the legislature's lower house. Leadership changes in the Legislature are often negotiated in private before being made public in a statement by the outgoing and incoming leaders. A formal vote typically takes place when a legislative session convenes, which this year will be December 5. Rivas was elected to the Assembly in 2018 after serving eight years on the San Benito County Board of Supervisors.

Inflation Eased 7.7% over 12 Months

Last month, the moderate price increases in the United States is the latest sign that the inflation pressures that have gripped the nation might be easing as the economy slows and consumers grow more cautious. As cited by the Labor Department, consumer inflation reached 7.7% in October from a year earlier. With tentatively easing inflation, the Fed is still expected to raise interest rates to stem persistently high price increases. Many economists warn that by continuing to tighten credit, the Fed is likely to cause a recession next year. Like many countries, the United States is struggling to control inflation, which is pressuring millions of households currently facing increased costs in spending and borrowing. The Fed has raised its benchmark interest rate six times in increments and is expected to reach a high of 4.5%.

$2 Billion Jackpot Won in Altadena

State lottery officials said that one lucky winner bought the nation's only matching Powerball ticket worth more than $2 billion at an Altadena gas station, becoming California's first billionaire by lottery. While the winner has not yet come forward, the service station's owner is hopeful the new billionaire is someone from the neighborhood. Officials said California's schools will receive $156.3 million from the jackpot, the highest contribution from a single roll in California Lottery history. The jackpot was reported at an estimated $1.9 billion Monday night but rose to $2.04 billion by Tuesday morning after updated calculations. The previous Powerball record was $1.586 billion in 2016 and was shared by California, Florida, and Tennessee winners.

Member Spotlight

Alysia Bell

UNITE-LA President

Alysia Bell currently serves as President of UNITE-LA. After pursuing UNITE-LA for two years, Bell joined the organization in 2011. In her 11 years with the organization, she has led UNITE-LA's national work in partnership with the Association of Chamber of Commerce Executives (ACCE).

This partnership has raised over $13 million, sub-granting over $700 thousand to chambers across the country leading promising practices in higher education attainment; graduated nearly 200 business organization leaders from the Fellowship for Education Attainment UNITE-LA and ACCE co-designed and engaged more than 600 chamber professionals in the Education and Talent Development Division UNITE-LA and ACCE co-launched in 2011.

At the state level, Bell has staffed the Education and Workforce Development Committee of the Regional Association of Economic Leaders (R.E.A.L.) Coalition of California and is now engaged in the California Stewardship Network. Regionally, Bell works closely with our programs, policy, and systems team plays a crucial role in our AntiRacism and Race Equity learning journey and leads organization-wide efforts, including CRM implementation and strategic planning.

Member Messages

Member Messages
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San Fernando Valley cities of Los Angeles, Burbank, Glendale, Calabasas,
Hidden Hills, San Fernando and Santa Clarita.
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