The state accounts for 12% of the population, but has outperformed that (percentage-wise) in almost ever economic metric. Coming out of the great recession, in the years 2012 to 2016, California accounted for 17% of the growth in the U.S.

Industries in California have also flexed their muscles. Tech, shipping, and entertainment have also turn the tables to recovery faster in California that elsewhere. We find numerous California companies living on the Fortune 500 list. Most would know Apple, Wells Fargo, and Hewlett-Packard. But cities like Los Angeles are quietly the home of engineering and constructions behemoths such as CBRE Group, Aecom, and Reliance Steel & Aluminum.

Among other Fortune 500 companies in the state are companies like McKesson, Oracle, Disney, Facebook, Qualcomm, Gap, Western Digital, Mattel, Schwab, and, well, a few dozen more.

On downside noted is that with more success, California has a greater downside if the economy reverses, but let’s be happy we’re on the right side of this economy for now! •

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Financially, what does this mean? We that remains to be tallied, but ESPN has already said the Rams value has gone from $1.45 billion to about $2.9 billion since the move. Yup, doubled.

The Los Angeles Times has published estimates that with the completion of the $2.6 billion stadium to be shared between the Rams and Chargers, a team like the Rams could bring in $330 million a year.

Of course that could go up or down, depending on lots of other factors, but if this past season is any indication, Los Angeles just might choose to rally round their long lost Ram team with a lot of dollars going into the team coffers! •

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January saw long lines outside new dispensaries, extended hours, and shortages. Weed business is definitely booming in the golden state.

The Marijuana Business Daily recently reported on some examples of retailers not just cruising. One retailer had been seeing about 150 customers a day (medicinal), only to see that jump to more than 300 a day in the new year.

Workers in the shops are working long hours trying to keep up with the demand. One retailer was quoted as saying they are hiring as fast as they can to help out. They are hiring for “every single position” in their business! •

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“Home sales will likely continue to struggle as we enter 2018, slowing the flow of agent fees,” told First Tuesday Journal, a top California real estate publication. “Historically low inventory for sale coupled with rapidly rising prices have discouraged potential home buyers.”

The publication also predicts the next rise in sales won’t likely be until 2019. That is, assuming residential construction can increase enough to boost turnover and inventory.

That being said, real estate agent Stephanie Vitacco of Keller Williams sees homes selling when priced at just the right spot. “The inventory in the San Fernando Valley is at one of the lowest levels I’ve seen in more than 30 years of selling. Houses are moving but the price point is tricky. Priced a tad too high and the house will sit. Priced correctly and there are multiple offers.”

Meanwhile, the California Association of Realtors reports that median prices in the state remain high. Median prices across the state averaged more than $540,000 (as of November 2017). Sales to list ratios, a measure of negotiation potential has been around 98.9%, meaning homes have been selling for just about listing price during the recent past.•

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The study revealed that finds that three in ten workers say they feel stressed about preparing for retirement. In addition, six in ten workers (61 percent) say they have saved for retirement, though just four in ten have tried to figure out how much money they will need in retirement (41 percent).

“I continue to be struck by the relatively small share of workers who do formal retirement planning,” said Lisa Greenwald, assistant vice president of Greenwald & Associates, and co-author of the report. “Use of a financial advisor increases with age and income, but just 23 percent of workers say that they have spoken with a professional advisor about retirement planning and only one in ten report they have prepared a formal plan for retirement.”•

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The AP released a story earlier this year that projects more than $7 billion in value as an industry, and more than $1 billion in tax revenue locally. California’s appetite for pot reflects more than 10% of the country’s pot business.

But licensing, control, and regulation as lagging behind the investment efforts. State Senator Mike McGuire commented California is, “Building the airplane while it’s being flown.”

In large part the reason is that California is trying desperately to “get it right”. Doing it wrong could result in loss of regulation, loss of tax revenue, and a huge black market.

The effort of California, and other pot-legal states, for that matter, appears to be part of the high stakes game playing out on a national stage. The federal government, under President Obama, basically told states to vigorously control and regulate state operations, and the Feds would stay out. But under the new Trump administration, word of Federal crackdowns is growing.

In a recent Time Magazine article, University of the Pacific professor Mike Vitiello, a marijuana law expert , doubts the Feds can pull it off, saying, “It’s kind of like illegal immigration: You can’t build a wall high enough.”

Only time will tell if pot will be the second wall built by President Trump. •

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“This executive order strengthens California’s position as a national leader in zero-emission vehicles,” said Governor Brown, “and the settlement will dramatically expand California’s electric vehicle infrastructure, helping to clean our air and reduce our dependence on foreign oil.”

The network of charging stations funded by the settlement will be installed in the San Francisco Bay Area, the San Joaquin Valley, the Los Angeles Basin and San Diego County. This new infrastructure network is a breakthrough in encouraging consumer adoption of electric vehicles and will contribute significantly to achieving California’s clean car goals. •

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The bill includes $253 billion in tax credits and $194 billion in spending, plus extension of unemployment benefits. Among its elements are the following specific actions:

1. Cutting and suspending $245 billion worth of payroll taxes for qualifying employers and 160 million medium- to low-income employees.
2. Spending $62 billion for a Pathways Back to Work Program for expanding opportunities for low-income youth and adults.
   • $49 billion—Extending unemployment benefits for up to 6 million long-term beneficiaries.
   • $8 billion—Jobs tax credit for the long-term unemployed.
   • $5 billion—Pathways Back to Work fund.
3. Spending $50 billion on both new and pre-existing infrastructure projects.
4. Spending $35 billion in additional funding to protect the jobs of teachers, police officers and firefighters.
5. Spending $30 billion to modernize at least 35,000 public schools and community colleges.
6. Spending $15 billion on a program that would hire construction workers to help rehabilitate and refurbish hundreds of thousands of foreclosed homes and businesses.
7. Creating the National Infrastructure Bank (capitalized with $10 billion), originally proposed in 2007, to help fund infrastructure via private and public capital.
8. Creating a nationwide, interoperable wireless network for public safety, while expanding accessibility to high-speed wireless services.
9. Creating additional regulations to rein in businesses who discriminate against hiring those who are long-term unemployed.
10. Loosening regulations for small businesses that wish to raise capital, including crowdfunding, while retaining investor protections.

Think positive—it may just be the boom small business needs! •

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Brinker v. Superior Court began as a case more than nine years ago. The class action was brought by restaurant employees who claimed they were denied rest and meal breaks. The California Supreme Court ruled that while employers must still “provide” breaks, they “need not ensure that no work is done during an employee’s meal period.” •

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In terms of dollars, San Diego led Southern California with $357.0M in investments; Los Angeles was next with $317.8M; Orange County had $249.3M.

The largest areas of investment were Industrial/ Energy, Medical Devices and Software in L.A./Orange County while Biotechnology led the way in San Diego. Nationwide, Software and Biotechnology were the leading industries. •

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