Daily Business Report: Wednesday, Aug. 17, 2022
California spared deeper cuts
in Colorado River water — for now
By Rachel Becker | CalMatters
Summary
Two other states – but not California – face cuts to Colorado River water in 2023 as the federal government escalates its drought response. But a deal remains out of reach.
Arizona and Nevada will face steeper cuts to Colorado River water in 2023 as drought continues to deepen, but California will once again be spared — at least for now.
The US Bureau of Reclamation announced the first-ever Level 2a shortage condition for Lake Mead, the massive reservoir that supplies water to about 25 million people. That designation triggers more curtailments for Arizona, Nevada and Mexico, while California, which holds more senior rights, is not affected.
But there’s been no deal among the Colorado River basin states to further cut their water use by 2 to 4 million acre feet in 2023. It’s a massive amount — at least seven times more than Nevada is entitled to in a year.
In mid-June, Bureau Commissioner Camille Calimlim Touton gave the states a 60-day deadline to craft a deal, or face federally-mandated cuts instead.
As of Tuesday, no agreement had been struck. But the deadline has come and gone with no plan and no concrete consequences from the Bureau of Reclamation.
“To date, the states collectively have not identified and adopted specific actions of sufficient magnitude that would stabilize the system,” Touton said.
The verdict is especially high-stakes for Southern California, where the river provides a quarter or a third of the region’s water supply. Seven Southern California counties rely on the river for water and hydroelectric power, and 600,000 acres of farmland draw on it for irrigation.
Top Photo: A thick white ring shows the dramatic decline of water levels at Lake Mead on the Colorado River on April 16, 2022. Photo by Caitlin Ochs, REUTERS
UC San Diego cuts admission offers to freshmen by 9,500
UC San Diego offered admission to 9,456 fewer prospective freshmen this fall than it did a year ago to cope with the unprecedented enrollment demand that is roiling the entire University of California system. To varying degrees, the system’s Berkeley, UCLA, Davis, Irvine, Santa Barbara and Santa Cruz campuses did the same, as they struggled to find enough housing and classroom space for the flood tide of students. Only the Merced and Riverside campuses increased admission offers.
College enrollment is declining in many parts of the country, particularly the northeast and Midwest. But it’s booming in the UC system, where ever more students are meeting eligibility criteria. The UC received a record 210,840 applications from prospective students for this fall.
MAAC to raise minimum wage to $18 an hour
MAAC (Metropolitan Area Advisory Committee), provider of comprehensive social services in San Diego County, says it will raise the minimum wage at MAAC to $18 an hour, plus benefits, effective Aug. 18.
“We aren’t stopping there,” said Arnulfo Manriquez, president and CEO of MAAC. “ We have committed to raising wages every year up to $19.38 by 2025.
In addition to increasing the minimum wage, MAAC raised the salaries and wages of teachers and other staff members that are part of the organization’s child development program, which provides care, education and resources to children ages 0-5 and their families. Their wages will be 12 percent higher effective this month. Additional raises throughout the contract will increase their pay 19.5 percent by 2025.
These increases are part of the agreement reached by MAAC and SEIU Local 221 after 10 months of negotiations. The new contract – covering a period of 39 months – is in line with the organization’s focus on economic advancement for all San Diegans. Wage increases range from 14.5 percent to 27.5 percent over the contract period.
UC San Diego School of Medicine receives $1.87 million
grant to expand Pathways to medical school
UC San Diego School of Medicine is the recipient of a three-year $1.87 million grant from the Foundation for California Community Colleges to create a Regional Hub of Healthcare Opportunity (RHHO) in San Diego and Imperial Counties as part of the new California Medicine Scholars Program.
The foundation designed the program to build new partnerships between community colleges, four-year universities and medical schools with the goal of providing more pre-medical opportunities to students and helping to diversify California’s physician workforce. In addition to UC San Diego’s grant, UC Davis School of Medicine, UC Riverside School of Medicine and UCSF Fresno received grants to create RHHOs in their communities.
Viasat opens third India office to attract new talent
In an effort to attract new employees and meet increasing work demands, Carlsbad-based Viasat is opening a new office in the Indian city of Hyderabad. The growing technological hub is about 400 miles from Viasat’s offices in Chennai, India, where about 270 employees now work.
“Our demands are increasing, and our standards are high,” said Viasat Vice President Sathya Narayanaswamy, who oversees operations in India. “So we’re looking to gain access to more talent. We’ve always wanted to expand to Hyderabad; it’s a great city.”
Senior manager Rasanth Kandoth, now based in Chennai, will relocate to Hyderabad to oversee the office. Rasanth has been with Viasat India from day one of its first Chennai office in 2015, playing a key role in its development. Additionally, many of Viasat’s current India employees are natives of Hyderabad.
Hyderabad is the capital of the Indian state of Telangana. Once the only global center for trade of large diamonds, emeralds, and natural pearls, it’s known as The City of Pearls. Since the 1990s, it’s emerged as a hub for pharmaceuticals, biotechnology, and high tech.
General Atomics tests PT6-E Series engine
from Pratt & Whitney on MQ-9B drone
On July 29, 2022, General Atomics Aeronautical Systems Inc. (GA-ASI) tested a PT6 E-Series model turboprop engine from Pratt & Whitney Canada on General Atomics’ MQ-9B Remotely Piloted Aircraft (RPA). Multiple full-power engine tests were performed at the company’s Desert Horizon flight operations facility in El Mirage, Calif.
“We’ve enjoyed a long-term relationship with Pratt & Whitney,” said President David R. Alexander. “Integrating their PT6 E-Series engine onto our MQ-9B SkyGuardian aircraft offers an alternate option for future customers that includes a 33 percent increase in power, dual channel electronic propeller and engine control system, as well as all the benefits of the PT6 engine family.”
The PT6 E-Series is a reliable and versatile turboprop engine family that will deliver the performance characteristics required as GA-ASI continues its development of MQ-9B capabilities.
Cymbiotika relaunches plant-based
supplement Elderberry
Cymbiotika, a leading nutritional supplement brand known for creating pure, clinically backed supplements, announced the relaunch of its Elderberry. Elderberry is a powerful natural antiviral, packed with antioxidants and nutrients known for supporting the immune system and protecting the body through sickness. When combined with phosphatidylcholine and echinacea, this liposomal hypertonic enhances overall wellness year-round.
Cymbiotika’s Elderberry Defense contains immune-boosting antioxidants that help the body produce white blood cells to effectively fight cold and flu viruses.
Cymbiotika’s Elderberry Defense retails for $48 and is available for purchase through the Cymbiotika website.
Home Care Resource chooses
SwyftOps as preferred partner
Home Care Resource, a San Diego-based development partner for growing agencies, has
selected SwyftOps as its trusted provider of home care operating systems. A home care operating system is an essential tool for any agency as it scales. It is the repository for all employee, client, payer, and scheduling data and handles the multiple and complex interactions between those elements.
Said HCR CEO Edwin Peterson, “For our member agencies, SwyftOps was an uncomplicated pick based on its state-of-the-art feature set, scalability for both start-ups and large firms, 24/7/365 support, and affordability.” When appropriate, HCR will recommend SwyftOps as a software solution and SwyftOps will refer agency business owners to HCR for business instruction and other services.
Lower-priced homes attracting strongest
competition as market rebalances
As home-buying demand cools from the record pace of 2021, competition is now hottest for the lowest-priced homes as mounting affordability obstacles stretch buyers’ budgets, a new Zillow® analysis finds.
Throughout most of the pandemic, buyers shopping in the middle and top price tiers faced the strongest competition — inventory was relatively lower, and there were more sales. Now, inventory for the least expensive homes is tightest while the sales gap has closed.
“Buyers are stretched thin when it comes to affordability, and they are flocking to the lowest-priced homes on the market to get their foot in the door,” said Zillow senior economist Nicole Bachaud. “Still, the less frenzied market compared to last year will feel like a breath of fresh air for those buyers who haven’t been priced out. It’s not yet a buyers market, but it’s becoming a better time to buy, with more time to consider options and less chance of being dragged into a bidding war.
AmTrav names new executives
AmTrav, the one-stop platform for business travel, is expanding its leadership and customer service teams to support the surge in business travel which is growing stronger as the pandemic subsides.
New hires to the leadership team include Susan Hathaway-Altman as chief sales officer, Tim Hines as chief marketing officer, and Gaurav Patel who has been promoted to chief technology officer.
Hathaway-Altman brings with her deep corporate travel and sales experience, having worked for some of the industry’s leading brands like Amex GBT, BCD, and most recently Atlas Travel.
At AmTrav, Hathaway-Altman will be responsible for leading the sales team and crafting the go-to-market strategy.
“I’ve always admired AmTrav,” Hathaway-Altman said.
“They’ve been thought leaders in the industry for years and always ahead of the curve technologically. I am thrilled to be joining them.”
The company has hired over 20 new Travel Advisers to assist clients with booking volumes that have doubled in the past year.
GoldSpring Consulting announces
Accelerate Business Travel Mentorship Program
To help increase representation and opportunities in the business travel sector, GoldSpring Consulting announced at the GBTA 2022 Convention the launch of Accelerate, the GoldSpring Business Travel Mentorship program for early-career industry professionals from underrepresented groups.
Will Tate, GoldSpring Consulting partner, said, “For our industry to progress and innovate for today’s and tomorrow’s challenges, we must tap into the talents of people across racial and ethnic backgrounds, LGBTQIA+ individuals, differently-abled people, and other historically underrepresented groups. One of the best ways we can close our industry’s representation gap is by making an intentional investment to support people from these underrepresented groups using our core competence in business travel.”
GoldSpring Consulting is proud to announce: GoldSpring’s Accelerate Business Travel Mentorship Program.
The goal of the eight-week Accelerate Business Travel Mentorship Program is to provide education, resources, access, and best practices to propel emerging leaders into their next great role on a pathway to the corner office.
