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1_LBBJ_Feb18_SectionA_LBBJ MASTER LAYOUT 2/17/14 9:27 AM Page 1 Health W ege The Coll s es Of Busin ion trat Adminis B At CSUL rn is Having J e oint Replace me Surgery? nt Here Is What To Ask Your Sur geon See Co etu me Tax R Free Inco d y Stu ent Service B age 4 rs • See P Voluntee lumn Pag e 22 February 18-March 3, 2014 Manufacturing Designation Could Benefit Long Beach PART III IN SERIES Mayoral Candidates Respond To Questions The Business Journal presents Part III in a series asking the top mayoral candidates to respond to two questions. The series concludes with the March 4 edition. ■ By TIFFANY L. RIDER Editor ong Beach has an opportuL nity to be part of an application for the Los Angeles region to Question Damon Dunn Robert Garcia Bonnie Lowenthal Doug Otto Gerrie Schipske What is your understanding of the role of the Long Beach City Attorney? What experience (such as trial experience, managing other attorneys, previous work for a law firm), do you believe is necessary for that individual to do a good job? (Please Continue To Page 12) (Please Continue To Page 9) Lawrence Maehara, owner of Berth 55 Fish Market and Seafood Deli, left, and Michael Redlew, general manager, Long Beach Sportfishing, give a thumbs up to the recent news that the Port of Long Beach is not forcing them to move to make way for a new fire station. See story on Page 7. (Photograph by the Business Journal’s Thomas McConville) FOCUS ON FINANCIAL SERVICES INDUSTRY ‘Dramatic Reconfiguring’ Of Mortgage Lending Rules Impact Consumers, Lenders ■ By TIFFANY L. RIDER Editor ortgage lending got a tight squeeze from the M Consumer Financial Protection Bureau in the form of seven new industry regulations that took effect January 10. The core rules, which have the most impact on lenders and consumers and are intended to pre- Question POLITICALWIRE Several years ago, the city’s Economic Development Bureau was eliminated. Should the Bureau be reestablished? If so, why and under what format? If not, please explain why. In A Surprise, Firefighters Union Backs Damon Dunn For Mayor Turn To Pages 16-17 To Read Their Responses vent another housing market crisis, may keep potential buyers out of the market. “I’ve been in the mortgage space for most of my adult life,” Pete Mills, senior vice president for residential policy with the Mortgage Bankers Association, told the Business Journal. “I haven’t seen such a dramatic reconfiguring of the mortgage space in my 30 years [in the business].” Of the seven regulations required as part of the DoddFrank Wall Street Reform and Consumer Protection Act of become a federally designated manufacturing community, which could bring needed funding and technical assistance to the area. The designation competition, which was launched in December by the Obama Administration, would provide up to 12 selected communities preferential treatment for federal funding from a pool of $1.3 trillion and assistance from 10 different federal agencies. The deadline to apply is March 14. Leonard Mitchell, executive director of the USC Center for Economic Development, leads the regional effort to apply for this designation. He noted that for Long Beach to be involved, a partner commitment letter must be submitted by March 7. Mitchell’s team at the USC Center as well as staff from the Los Angeles Economic Development Corporation (LAEDC) are coordinating with cities, small business development centers, regional workforce investment boards, community colleges, the California State University system, research universities and An Analysis Of The Mayoral Race Seven Weeks Out ■ By GEORGE ECONOMIDES Publisher Perspective may be the biggest – and Iing tsome say the most surpris– endorsement of the 2014 According to Rex Pritchard, president of the union, the board vote was unanimous. The significance of the endorsement is that it provides legitimacy to a candidate who many thought of as an “outsider” and who “hadn’t paid his dues” (Please Continue To Page 18) 1985-’94: ‘Family Feud’ And ‘The Streak’ Long Beach election season: The Long Beach Firefighters Local 372, one of the city’s most influential unions, is backing Damon Dunn for mayor of Long Beach. Long Beach Business Journal 2599 E. 28th Street, Suite 212 Signal Hill, CA 90755-2139 562/988-1222 • PART IV IN A SIX-PART SERIES (Publisher’s note: To mark April’s 40th Toyota Grand Prix of Long Beach, the Business Journal has teamed up with the Grand Prix Association of Long Beach to present a series of articles highlighting America’s #1 street race.) PRSRT STD U.S. POSTAGE PAID Long Beach, CA PERMIT NO. 254 ■ By GORDON MORRIS, Staff Writer, Grand Prix Association of Long Beach What’s Up With The Vault 350? See Real Estate Quarterly Section B ith the race on a solid W foundation under its new sanctioning body, Championship Auto Racing Teams (CART), the Toyota Grand Prix of Long Beach’s next decade turned out to be racing’s version of the Hatfields and the McCoys. Specifically, the Andrettis and the Unsers. One patriarch, Mario Andretti, was a genuine Long Beach folk hero, an ex- Formula One champion and winner of the 1969 Indianapolis 500 who would go on to win four Champ Car titles. The other, Al Unser Sr., was a (Please Continue To Page 21)

February 18 - March 3, 2014 Section A

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