Council District 5 Candidate Forum
On Friday (February 9), the Long Beach Commercial Real Estate Council is hosting a forum for Long Beach City Council District 5 candidates. Incumbent Stacy Mungo, Rich Dines, Corliss Lee and John Osborn have been invited to participate in the event at The Grand, 4101 E. Willow St., from 7:30-9 a.m. Click here for more information and to register for the event.
Tax Reform Could Bring Back Manufacturing And $2 Trillion In Overseas Funds
Analysis by the United Nations Conference on Trade and Development (UNCTAD) has found that American tax reform could lead to the repatriation of nearly $2 trillion overseas funds of United States-based multinational enterprises. Almost 50% of foreign direct investment stocks would be affected by tax reform, according to the report. UNCTAD also found that the lower tax rate could lead to “higher inward investment, and possibly to further re-shoring of manufacturing activity.”
U.S. Chamber Urges Immigration Action, Cautions Against White House Plan
Thomas Donohue, president and CEO of the United States Chamber of Commerce, issued a statement today criticizing the White House’s immigration plan and urging Congress to address the Deferred Action for Childhood Arrivals (DACA) program. He indicated that the U.S. workforce could lose nearly one million “hardworking individuals” if nothing is done to address DACA, which expires March 1. He also cited a report that found that the White House’s plan would “curb legal immigration by 44% this year and reduce the number of legal immigrants . . . by 22 million over the next five decades,” a move he argued would “spell disaster for our economy.”
New Boeing Plane Debuts, Slated To Enter Service Next Year
The first Boeing 737 MAX 7 was completed at the company’s Renton, Washington factory. The plane is designed to hold up to 172 passengers and has a maximum range of 3,850 nautical miles, the longest of any of the MAX airplanes. The jet is scheduled to begin flight testing in a few weeks and enter service for Southwest Airlines in 2019.
Jerome H. Powell Begins Term As Chairman Of The Federal Reserve
Jerome H. Powell was sworn in today as Chairman of the Board of Governors of the Federal Reserve System, succeeding Janet Yellen. The Senate confirmed Powell on January 23, 2018, following a hearing by the Senate Committee on Banking, Housing and Urban Affairs. His term as chairman lasts four years, and his service as a boardmember ends January 31, 2018.
Assemblymember Speaking At Community Meeting This Week
Assemblymember Patrick O’Donnell is speaking at the Belmont Shore Residents Association meeting this Thursday, February 8, 6 p.m., Bay Shore Library, 195 Bay Shore Ave.
MemorialCare Heart & Vascular Institute Receives $1.5M Donation
The Memorial Medical Center Foundation announced today that it received an anonymous $1.5 million donation to renovate the catheterization (cath) labs at the MemorialCare Heart & Vascular Institute. Examinations, including diagnostic imaging of the heart, are performed in the institute’s five cath labs. According to a press release, the renovations will improve the care of patients at Long Beach Medical Center, as well as MemorialCare Miller Children’s & Women’s Hospital Long Beach.