Board Of Supervisors Places New Property Tax On November Ballot

The Los Angeles County Board of Supervisors today voted 4-1 to place the Safe, Clean Water Program funding measure, a parcel tax, on the November 6 ballot. The proposal would “impose a special tax upon parcels located within the County Flood Control District to fund projects and programs to increase stormwater capture and reduce stormwater and urban runoff pollution,” according to the board agenda item. Fifth District Supervisor Kathryn Barger, who represents cities in the San Gabriel, San Fernando, Crescenta, Santa Clarita and Antelope valleys, was the only dissenting vote.


Gradually Raising Interest Rates Is ‘Best Way Forward,’ Says Federal Reserve Chairman

Jerome Powell, chairman of the Federal Reserve Board, today told members of the Senate Committee on Banking, Housing and Urban Affairs that “the best way forward is to keep gradually raising the federal funds rate,” which dictates interest rates for lending. He noted that raising rates too slowly could cause high inflation or excesses in financial markets, but that raising rates too quickly could weaken the economy and cause inflation to run too low. The Fed’s actions are dependent upon the economic outlook, Powell explained. A stronger job creation rate than in 2017, a low unemployment rate of 4%, a moderate increase in gross domestic product of 2% in the first quarter and other factors have played into plans to raise the federal funds rate, he explained during his testimony.


Port Of Los Angeles Imports And Exports Up

In June Despite Overall Cargo Traffic Decline

The Port of Los Angeles announced today that it experienced a 1.1% decrease in containerized cargo this June compared to the same month last year. Imports, however, increased by 2.9%, and exports increased by 1.4%. The decline was due to empty container traffic, which fell 9.7%. The port’s fiscal year ended in June. For the second year running, total cargo volumes exceeded 9.1 million twenty-foot equivalent units, according to the port. For the calendar year, overall cargo traffic is pacing 3.9% behind 2017, an all-time record year for the port.


Boeing Releases 20-Year Market Forecast For Airplanes And Aviation Services

Boeing is forecasting a $15 trillion total market opportunity in the commercial airplanes and services market over the next 20 years. According to the company, projections indicate a demand for more than 42,700 new airplanes, valued at $6.3 trillion, and a 4.2% growth in demand for commercial aviation services annually. Rising passenger traffic and upcoming airplane retirements are driving the demand for new aircraft, the company stated. Between airplanes that are retained and new aircraft, the global fleet is projected to double to 48,540 by 2037.


Cal State Long Beach Launching Cybersecurity Minor To Meet Workforce Need

California State University, Long Beach’s College of Engineering is offering a new minor in cybersecurity this fall due to nationwide demand. According to research by the National Initiative for Cybersecurity Education, a project of the U.S. Department of Commerce, there are more than 10,000 cybersecurity job openings in the Los Angeles-Long Beach-Anaheim metropolitan area and 300,000 such openings nationwide. A statement from the university indicated that meetings with industry professionals revealed that businesses needed more workers with this expertise, leading to the creation of the minor.