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Banker named to run California-China trade office

A prominent Bay-Area based international banker has been tapped to run the California-China Office of Trade and Investment, established last year by Gov. Jerry Brown.

Kenneth Petrilla“The hiring of Ken Petrilla, one of the most experienced international banking executives in California, shows how serious California is about its trade relationship with China,” Mike Rossi, Brown’s senior jobs advisor, said in a news release.

Petrilla, 68, of Ross, has served for several years in San Francisco as head of the China desk at Wells Fargo, facilitating opportunities involving Chinese companies doing business in the United States.

Brown created the California-China Office of Trade and Investment to serve as a hub for California companies interested in entering or expanding in China – the world’s second largest economy – and for Chinese companies seeking investment opportunities in California – the world’s eighth largest economy by GDP. California exported $24.2 billion to mainland China and Hong Kong in 2013, as the combined China region became the Golden State’s number one export market.

“There is a Chinese expression that opportunities multiply as they are seized, and Ken Petrilla is just the person California needs to seize these opportunities,” said Jim Wunderman, president and CEO of the Bay Area Council, which manages the Trade Office for the state.

Petrilla said it’s hard to imagine a more exciting job “than straddling two of the world’s most dynamic economies and lending my expertise to helping them both grow more intertwined.

“The people of California and China have so much to gain as trade shifts into what many people have called the Century of the Pacific,” he added. “I hope in this role I can give back to California as much as this state has given to me.”

Petrilla earlier held other posts within Wells Fargo, including responsibilities for all Wells Fargo business and activities within Europe, the Middle East and Africa (EMEA).

Posted on Thursday, December 18th, 2014
Under: economy, Gov. Jerry Brown, Jerry Brown | No Comments »

Honda touts manufacturing bill within CRomnibus

Some last-minute poison pills kept Rep. Mike Honda from voting for the $1.1 “CRomnibus” spending bill approved by Congress, but he sees a few bright spots in it for Silicon Valley nonetheless.

And there’s little that Honda – who just eked out a narrow electoral win last month over fellow Democrat Ro Khanna – would rather do these days than deliver a bit of good news for his district.

honda.jpgHonda, D-San Jose, said Tuesday that the CRomnibus included the Revitalize American Manufacturing and Innovation (RAMI) Act. This Republican-led, bipartisan bill that the House had approved back in September authorizes $400 million to create up to 15 Centers for Manufacturing Innovation – regional hubs where universities and colleges, small and large manufacturers, and government can address manufacturing challenges and bring ideas from lab to market. They’ll also work toward producing a skilled workforce to meet the nation’s manufacturing needs.

Honda believes the initiative will lead to more domestic manufacturing and job creation across the nation. He anticipates that Silicon Valley will be among the first applicants seeking to create such a center, probably in order to develop the next generation of semiconductor manufacturing tools.

IPC – a global trade association serving the printed board and electronics assembly industries, their customers and suppliers – issued a statement Monday thanking Honda for his role in RAMI’s passage.

“Among the bill’s earliest and most steadfast champions, Congressman Honda keenly appreciates the connection between the strength of America’s manufacturing base and the incredible innovation that takes place in his district in Silicon Valley.” IPC President and CEO John Mitchell said. “Representing all facets of the electronics industry, IPC’s members — including the many located in Congressman Honda’s district — look forward to the collaboration among private and public sector stakeholders at the National Network for Manufacturing Innovation centers that this legislation will establish.”

Honda was proud of the bipartisan effort behind this bill and the greater CRomnibus, but said he had no choice but to vote against it after two riders were added that he staunchly opposed – one to roll back part of the Dodd-Frank banking reforms that prevent taxpayers being left on the hook to insure risky derivatives trading, and another to vastly increase the amount of money individuals can contribute to political parties.

“I had to make that decision (to vote nay) … That’s the way the sausage is made in Congress,” he said. “But I’m glad we got the RAMI in and also the next round of funding on BART, about $150 million” for the Berryessa extension.

Honda spoke Tuesday as he prepared to leave for South Korea, where he’ll spend the next few days meeting with business and government leaders including Korean Foreign Minister Yun Byung-se and U.S. Ambassador Mark Lippert, as well as visiting U.S. troops and surviving victims of World War II sexual enslavement.

He said his priority is to discuss what South Korea is doing to encourage American businesses to thrive there, and the investment and innovation opportunities South Korean businesses have in the Bay Area. He’ll be delivering a policy speech at the Asan Institute for Policy Studies in Seoul about how the two nations can strengthen their economic and political relations; he also has a dinner scheduled with the Korea International Trade Association and its chairman, as well as a meeting with the vice minister of trade, industry and energy.

Posted on Tuesday, December 16th, 2014
Under: economy, Mike Honda, U.S. House | 2 Comments »

Linking clean-energy laws to economic opportunity

A Bay Area nonprofit has launched a new campaign highlighting how California’s climate-change and clean-energy laws not only protect the environment and public health, but also bring jobs and consumer savings to communities of color and low-income neighborhoods across the state.

UpLiftCAThe Greenlining Institute – a Berkeley based group founded to fight redlining, the practice of denying economic opportunities to people of color – on Monday launched UpLiftCA.org, a site offering stories of real Californians already benefitting from the state’s burgeoning clean-energy economy. More stories will be added in coming months, and a Spanish-language version will be launched in January.

The campaign is being launched even as foes of California’s landmark climate law try to roll back a provision making gasoline subject to carbon-emission penalties starting in 2015, which will causes gas prices to rise somewhat.

“The oil industry and its front groups have shamelessly tried to mislead communities of color about California’s laws to fight global warming, masquerading as consumer advocates when all they want is to protect their own profits,” Greenlining Institute Executive Director Orson Aguilar said in a news release. “We’re going to make sure our communities hear the truth.”

State law requires that a quarter of the money raised by carbon permit sales under California’s cap-and-trade program must go to projects that benefit highly polluted and economically struggling communities. That’s about $272 million in this fiscal year for clean energy, energy efficiency, clean transportation, urban forestry and affordable housing near public transit.

The California Department of Resources Recycling and Recovery last month announced a series of grants to reduce greenhouse gas emissions from solid waste disposal – projects that will bring new jobs and cleaner air to places like Perris, Oakland, Tulare and Fresno.

Leonard Robinson, who chairs the California Black Chamber of Commerce’s Energy and Environment Committee and is a former California Environmental Protection Agency Department of Toxic Substances official under Gov. Arnold Schwarzenegger, said California is thinking forward.

“Part of the fees that companies are charged for putting greenhouse gases into the air are being invested in California’s most vulnerable and underserved communities to improve health and create local jobs,” he said. “These jobs are real – California added over 3,500 solar power jobs last year alone.”

Greenlining’s website includes simple explanations of how the laws work, and practical information for people and businesses on energy efficiency, low-cost solar power, rebates for plug-in electric cars, and more.

“For too many decades, low income neighborhoods and communities of color were used as toxic dumping grounds,” said Vien Truong, Greenlining’s environmental equity director. “This is a huge chance to right a historical wrong and bring real benefits to our communities, and community advocates are working closely with the state to make sure these benefits are real and get to where they need to go.”

Posted on Monday, December 15th, 2014
Under: economy, energy, Environment | 9 Comments »

Commerce Secretary attends Oakland forum

U.S. Commerce Secretary Penny Pritzker joined Rep. Barbara Lee and other officials Monday for a regional economic development forum at Oakland International Airport, focused on creating more jobs and growing businesses in the East Bay.

Penny Pritzker“The Department of Commerce has tremendous resources in place in this region and around the country that allow us to partner with your businesses and entrepreneurs so they can compete and succeed,” Pritzker said in a news release issued by Lee, D-Oakland, after the event.

“Here in the Bay Area, we are working with companies large and small to sell their goods and services to the 95 percent of global consumers who live outside the U.S., helping to create the conditions for innovators and entrepreneurs to thrive, and supporting minority-and women-owned businesses through our Minority Business Development Agency,” she said, adding her department “is committed to helping your companies grow and thrive so they can create jobs – that is our mission and a core objective for President Obama.”

Lee said small businesses “are fundamental to the East Bay’s economic growth, especially women and minority-owned businesses.

“These businesses create jobs, contribute to our community and create opportunities into the middle class,” she said. “In order to ensure continued economic growth, we need to investment in sharing the available resources with these businesses and businesses owners to help them succeed.”

Other attendees included regional Small Business Administration Administrator Donna Davis; Minority Business Development Agency Director Alejandra Castillo; Overseas Private Investment Corp. Director of Corporate Development Alison Germak; Port of Oakland Aviation Director Deborah Ale Flint; Alameda County Supervisor Keith Carson; and Oakland Mayor Jean Quan.

Earlier Monday, Lee had hosted a roundtable discussion with Pritzker and East Bay business leaders to discuss economic development, supplier diversity and the importance of gender and ethnic diversity in corporate leadership.

Posted on Tuesday, August 12th, 2014
Under: Alameda County, Alameda County Board of Supervisors, Barbara Lee, economy, Jean Quan, Oakland, U.S. House | No Comments »

EPA proposal on coal power plants creates hot air

Opinions and rhetoric were breaking largely among the usual party lines Monday after the U.S. Environmental Protection Agency announced its plan to cut carbon dioxide emissions from existing coal plants by nearly a third by 2030, compared with 2005 levels.

From House Speaker John Boehner, R-Ohio:

John Boehner“The president’s plan is nuts, there’s really no more succinct way to describe it. Americans are still asking ‘where are the jobs?’ and here he is proposing rules to ship jobs overseas for years to come. Americans are already paying more for everything and here he is condemning them to higher bills and lower incomes long after he leaves office.

“In many ways, this national energy tax is actually worse than the scheme Americans rejected four years ago. While the president may have kept his promise to make prices ‘skyrocket,’ it doesn’t have to be inevitable. The House has already passed legislation to prevent these rules from taking effect without the approval of the people’s representatives. The question now is: will Senate Democrats listen to the American people and stop this disaster or will they back the president all the way?”

From House Minority Leader Nancy Pelosi, D-San Francisco:

Nancy Pelosi“Climate change is one of the most pressing dangers facing us today. This accelerating crisis threatens our coasts, our crops and our communities – and its damaging and destabilizing effects are already being felt across our nation and around the world.

“The destructive effect of unrestrained carbon pollution is felt not only in rising temperatures and increased, more powerful natural disasters, but also in higher asthma rates in our children. We already restrict mercury and arsenic pollution – it’s time we did the same for toxic carbon pollution. These new standards will strengthen public health, create new jobs, spur innovation and lower electricity rates.

“Like the Waxman-Markey American Clean Energy and Security Act, these actions by the Administration send a resounding message to the world that the United States is serious about dealing with climate change. The Clean Air Act is an appropriate, bipartisan approach to protect people from pollution, and today’s standards build on a foundation of decades of bipartisan laws, including the Energy Independence and Security Act of 2007, signed by President Bush.

“We have a moral obligation to act to preserve the beauty of God’s creation for future generations. With these flexible plans to cut carbon pollution, our nation is taking a bold and serious step towards securing a sustainable future for all of us.”

Lots more from familiar California and Bay Area figures, after the jump…
Read the rest of this entry »

Posted on Monday, June 2nd, 2014
Under: Anna Eshoo, Barbara Boxer, economy, energy, Environment, George Miller, Global warming, John Boehner, Kevin McCarthy, Mike Honda, Nancy Pelosi, Obama presidency, U.S. House, U.S. Senate | 8 Comments »

Jerry Brown will lead trade mission to Mexico

Gov. Jerry Brown will lead a trade and investment mission to Mexico – California’s largest export market – in the last week of July, he announced Tuesday.

California’s neighbor has a role to play in the Golden State’s push to address its energy and environmental needs, Brown had said in his State of the State address in January.

“Reducing our oil consumption, two-thirds of which is imported by ships and tank cars, will take time, breakthrough technologies and steadfast commitment. It will also require that the countries which burn the most fossil fuel join with us,” he said at the time. “We’ve started building those partnerships with other states and countries like China. We will go to Mexico next. California can’t do this alone.”

A delegation of California government, business, economic development, investment and policy leaders will join Brown on this mission, which is being organized by the California Chamber of Commerce. The focus will be on boosting direct investment in the state, expanding bilateral economic and environmental cooperation, and connecting California businesses with new opportunities and partnerships.

Brown met last month with Mexican consuls general from cities across California.

The governor one year ago led a similar mission to China, during which he met with government leaders including China Premier Li Keqiang, opened the California-China Office of Trade and Investment in Shanghai and signed the first economic and environmental agreements ever between a subnational entity and Chinese Ministries. Brown later last year met with China’s President Xi Jinping in California to sign a climate-change pact; he also has signed pacts in the past year with leaders from Canada, Israel and Peru to combat climate change, strengthen economic ties and cooperate on research.

Posted on Tuesday, April 29th, 2014
Under: economy, energy, Environment, Gov. Jerry Brown, International politics, Jerry Brown | No Comments »

Reich visits Capitol on CEO pay, oil extraction tax

It’s Robert Reich day at California’s State Capitol.

No, there hasn’t been an official proclamation. But the former U.S. Secretary of Labor, now a UC-Berkeley public policy professor, will be under the dome Thursday to speak on behalf of two bills introduced by Bay Area lawmakers.

Reich is doing a news conference with state Sen. Mark DeSaulnier, D-Concord; state Sen. Loni Hancock, D-Berkeley; and California Labor Federation Executive Secretary-Treasurer Art Pulaski in support of DeSaulnier’s SB 1372, which would create a new corporate tax table that increases taxes on businesses with big disparities between the salaries of their workers and their CEOs. The bill is being heard Thursday morning by the State Governance and Finance Committee.

“For example, if the CEO makes 100 times the median worker in the company, the company’s tax rate drops from the current 8.8 percent down to 8 percent. If the CEO makes 25 times the pay of the typical worker, the tax rate goes down to 7 percent,” Reich wrote on his blog Monday. “On the other hand, corporations with big disparities face higher taxes. If the CEO makes 200 times the typical employee, the tax rate goes to 9.5 percent; 400 times, to 13 percent.”

“Pushing companies to put less money into the hands of their CEOs and more into the hands of average employees creates more buying power among people who will buy, and therefore more jobs,” he wrote. “For the last thirty years, almost all the incentives operating on companies have been to lower the pay of their workers while increasing the pay of their CEOs and other top executives. It’s about time some incentives were applied in the other direction.”

And, Reich will testify to the Senate Public Education Committee in favor of SB 1017 by state Sen. Noreen Evans, D-Santa Rosa, which would create an oil extraction tax to fund higher education, health and human services, state parks and more.

Reich endorsed a similar student-organized ballot measure effort last year, saying that using oil severance tax revenue for education “should be a no-brainer. It will only improve our schools. The real question is why California hasn’t done this long before now.”

The California Chamber of Commerce this month put both bills on its list of “job killers,” arguing they create barriers to economic development.

“The economic recovery is still the number one issue for Californians,” Chamber President and CEO Allan Zaremberg said when announcing the list. “These bills pose a serious threat to our economy and, if enacted, would dampen job growth in the state.”

Of Evans’ bill, Zaremberg said “an oil extraction tax will drive up consumer prices, push jobs away and upset a fragile economy that is showing strong signs of life.”

Posted on Thursday, April 24th, 2014
Under: economy, education, state budget, taxes | 12 Comments »

Brown to meet with Netanyahu in Silicon Valley

Gov. Jerry Brown will meet with Israeli Prime Minister Benjamin Netanyahu next week in Silicon Valley to sign a trade agreement expanding California’s partnership with Israel on economic development, research and trade.

Brown’s office says the agreement – to be signed Wednesday at the Computer History Museum in Mountain View “will boost economic, cultural and academic cooperation between California and Israel, with an emphasis on water conservation, alternative energy, cybersecurity, health and biotechnology, education and agricultural technology.”

The pact also will let Israeli companies access the state’s Innovation Hubs (iHUB), a network including 16 clusters of research parks, technology incubators, universities and federal laboratories, plus economic development organizations, business groups and venture capital funds.

Brown this past Wednesday met in San Francisco with Portugal’s President Cavaco Silva and with Harold Forsyth, Peru’s ambassador to the United States. In the latter meeting, he signed an agreement with Peru to strengthen cultural, economic and academic ties and tackle shared challenges, including climate change.

Posted on Friday, February 28th, 2014
Under: economy, Gov. Jerry Brown, Jerry Brown | 1 Comment »

Neel Kashkari: Now isn’t the time to cut taxes

GOP gubernatorial candidate Neel Kashkari’s top priority isn’t cutting taxes, he told the San Jose State University College Republicans on Thursday night.

They’re too high, he agreed, but he called for first getting the state’s money’s worth from the taxes it does collect to foster new jobs and better education. Once the economy is strong again, he said, it’ll be time to reform the tax code to lower the overall taxation level.

“To be candid with you, I don’t think we start there; I think we start by putting people back to work,” he told about 20 students who’d gathered to hear him speak.

Kashkari & SJSU College Republicans, photo by Josh Richman

Because Kashkari’s speech occurred on our print deadline and due to limited space in the paper, here are a few other tidbits that didn’t make it into today’s story:

He’s “not comfortable with legalizing marijuana. … I’ve never smoked pot in my life,” he said. “But I also don’t think it makes sense to lock people up, to ruin their lives, to waste millions of dollars for a small amount of drugs,” he added, noting there must be a better approach than the “war on drugs” that has disproportionately hurt minorities.

Kashkari again called for opening the Monterey Shale to fracking for shale oil, saying it’ll be a key part of the job boom California desperately needs. The nation’s highest rents aren’t in San Francisco or New York, he noted, but actually in a small North Dakota town at the epicenter of that state’s fracking boom.

A true climate-change response must be national or international in order to have any effect, he said, and a robust state economy will bring more tax revenues that can be spent in part on basic research into clean energy sources and other climate-change solutions.

“I love our natural beauty, we have to protect the environment, but I believe we need to find the right balance,” he said.

Kashkari & Barr, photo by Josh RichmanKashkari got into a back-and-forth with Cheryl Barr, 22, an industrial-design student who disagreed with his environmental positions.

Barr after the meeting said Kashkari generally “seems like a decent guy,” and she likes that he has an engineering background – he earned bachelor’s and master’s degrees in mechanical engineering and worked briefly as an aerospace engineer, before earning his M.B.A. and entering the financial sector. But his campaign mantra of “‘jobs and education’ is kind of vague,” she said, and she believes his support of fracking is misguided.

“There actually is room to create jobs that can help the environment at the same time,” she said.

Posted on Friday, February 21st, 2014
Under: economy, energy, Environment, marijuana, Neel Kashkari, taxes | No Comments »

Three locals to advise Obama on manufacturing

Several Bay Area people will serve on the new steering committee for President Barack Obama’s Advanced Manufacturing Partnership, the White House announced Thursday.

The president created the partnership in 2011 to bring industry, academia and government together to revitalize the manufacturing sector and boost the nation’s global competitiveness.

Among those on the new committee are University of California, Berkeley Chancellor Nicholas Dirks; Ajit Manocha, CEO of Milpitas-based semiconductor manufacturer GLOBALFOUNDRIES; and Mike Splinter, executive board chairman of Santa Clara-based Applied Materials Inc.

The original steering committee issued a report last year, “Capturing Domestic Competitive Advantage in Advanced Manufacturing,” that called for sustaining U.S. investments in science, technology, and innovation; establishing a National Network of Manufacturing Innovation Institutes, a set of public-private partnerships to build shared high-tech facilities and advance U.S. leadership in emerging technologies; upgrading community-college workforce training programs and deploying the talent of returning veterans to meet critical manufacturing skills needs; and improving the business climate for manufacturing investment through tax, regulatory, energy, and trade reform.

The new steering committee will build on that work, functioning as a working group of the President’s Council of Advisors on Science and Technology and in partnership with the National Economic Council, White House Office of Science and Technology Policy, and the Commerce Department. It’s also going to hold regional working sessions and forums designed to find examples of innovative strategies to build manufacturing competitiveness.

Posted on Thursday, September 26th, 2013
Under: economy, Obama presidency | 4 Comments »