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BizBrief: Today’s News To Know

Changes Proposed For Use Of Long Beach Airport Flight Slots
Long Beach Airport Director Jess Romo is proposing changes to the rules for air carriers’ flight slot use and allocation in an item going to the city council next Tuesday, November 20. The changes are meant to address “the recent increased demand for permanent flight slots at the Airport, lack of availability of permanent flight slots” and “the continued and anticipated further underutilization of allocated flight slots compared to current load factors and industry trends in the region,” according to a memo by Romo. If approved, changes would include: requiring at least a 60% flight slot utilization rate during any calendar month, a 70% rate during any quarter and an 85% rate during any year. Failure to comply subjects air carriers to penalties including a reduced number of their slot allocation to match their actual activity. Click here to read the entire report on the matter.

Port Of Los Angeles Breaks Cargo Record
The Port of Los Angeles set an all-time record for cargo movement in October, processing the most containers in a single month in its history. The port handled 952,554 twenty-foot equivalent units of cargo, a 27.2% increase compared to October 2017. Imports increased by 26.7% compared to last October, while exports increased 20.5% and the shipment of empty containers overseas increased by 25%. “During October, two of our container terminals – APM Terminals and Fenix Marine Services, formerly Eagle Marine – processed record container volumes while West Basin Container Terminals and Everport Terminal Services handled the biggest ships to ever call at those facilities,” Port of Los Angeles Executive Director Gene Seroka explained in an official announcement.

Home Sales And Prices Decline In California
California home sales declined for the sixth month in a row in October, according to the California Association of Realtors (CAR). Compared to the same month in 2017, home sales decreased by 7.9% in October. However, home sales increased by 3.8% compared to this September. The median price of homes in California decreased by 1.2% from September to $572,000, according to CAR. “October’s sales decline was not as severe as the double-digit drop experienced in September, but the continued pullback in sales suggests the market will continue to slow and likely soften further into 2019,” CAR Senior Vice President and Chief Economist Leslie Appleton-Young stated. “Likewise, as home sales continue to soften, the median price, which was the lowest since March 2018, will also ease up.”

Munzer Family And Munzer Foundation Continue Support Of MemorialCare Miller Children’s & Women’s Hospital
The Rudolph J. and Daphne A. Munzer Foundation recently awarded a $65,000 grant to MemorialCare Miller Children’s & Women’s Hospital Long Beach’s injury prevention program. The program specializes in preventing traumatic childhood injuries by providing car seats, helmets, education, and other services to families in need. The Munzer family and the foundation have supported the hospital with more than $700,000 in grants for programs over the years, and have created a $1.5 million endowment for continuous support of its graduate medical education department.

Long Beach City College Students Now Eligible For Two Years Free Tuition
Long Beach City College students are now eligible for two years of free tuition to all qualified graduating students of the Long Beach Unified School District (LBUSD). The implementation of Assembly Bill 19 now guarantees all California residents with one-year free tuition at state community colleges if they enroll full-time. The Long Beach City College Foundation has been providing a full year tuition-free to LBUSD  students through the Long Beach College Promise program since 2015. The foundation is continuing this practice even after the passage of AB 19 to offer a second year of free tuition.

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