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Logistics giant DHL laying off 346 workers at Ontario facility

LA Daily News — Wed, 07 May 2025 19:01:41 +0000

DHL Supply Chain is laying off 346 workers and closing a package handling facility this summer near the Ontario International Airport.

The company announced its plans in a May 1 letter to the state’s Employment Development Department that indicated the layoffs would begin July 1 and end Aug. 31.

Also see: Southern California business owners get creative as tariffs, surcharges hit

Janet McGrath, senior director in charge of DHL’s human resources department, wrote that workers at the company’s DHL Supply Chain facility would be laid off permanently, according to a federal Worker Adjustment and Retraining Notification.

A WARN is required when an employer lays off more than 50 employees or a significant percentage of its staff.

DHL Supply Chain is a division of DHL Group, which provides logistics and supply chain management for warehousing, transportation and e-commerce fulfillment.

Also see: Mediator in Southern California grocery labor talks laid off by DOGE

In a May 7 email to the Southern California News Group, DHL spokeswoman Marcia McLaughlin attributed the warehouse closure and job cuts to a client that will be relocating a part of their distribution operations.

McLaughlin declined to identify the customer or provide details on where that client is relocating its distribution operations.

“As a result, the warehouse facility that supports our customer’s operations in Ontario, Calif., will begin phasing down July 2025 and will close August 2025,” she said. “DHL has notified its associates and is working closely with impacted team members to identify opportunities to continue their careers as valued members of DHL Supply Chain.”

The facility is located about 8 miles south of the Ontario airport at 5331 S. Carpenter Ave.

The WARN notice said that jobs being eliminated include the general manager, inventory control supervisor, training supervisor, inventory control clerks, mechanics and order filler pickers, the latter of which includes…

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ACCOUNTING: Yiangou

LA Business Journal — Mon, 05 May 2025 15:41:53 +0000

Yiangou

RSM US LLP (“RSM”), a leading provider of assurance, tax and consulting services to the global middle market, is pleased to announce Tasos Yiangou as the new Los Angeles Office Leader. A Partner in Assurance Services, Tasos also leads RSM’s Southern California Technology, Media and Entertainment, and Telecommunications (TMT) industry group.

Tasos brings extensive experience working with private equity–backed firms, publicly traded companies, and multinational organizations. His deep industry knowledge spans technology, media, entertainment, industrials, automotive and consumer products, with a strong focus on International Financial Reporting Standards (IFRS).

Known for his approachable leadership style, Tasos is deeply committed to building meaningful relationships—with clients, colleagues and community alike. He is valued for his ability to guide teams and clients through complex audits, acquisitions and equity transactions with clarity, care and integrity.

A Certified Public Accountant in California, Tasos is a member of the Association of Chartered Certified Accountants (ACCA), the American Institute of Certified Public Accountants (AICPA), and the California Society of CPAs (CalCPA). He holds a Bachelor of Arts in Accounting and Finance with honors from London Metropolitan University.

“It’s a true honor to step into the role of Los Angeles Office Leader. I’m deeply grateful for the trust and support of my fellow partners and excited to serve our incredibly talented team. This is a people driven business, and I’m committed to creating an environment where every individual feels empowered, supported, and inspired to grow. Together with our clients, our colleagues, and our community, I believe we can achieve extraordinary things and continue to shape the future of RSM,” said Tasos.

Email: [email protected]
Phone: 213.330.4785
LinkedIn: linkedin.com/in/tasosyiangou/

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U.S. home sales hit a 10-year low

LA Daily News — Sat, 03 May 2025 12:03:44 +0000

The last time the U.S. housing market was this slow, “Fifty Shades of Grey” topped the box office and “Uptown Funk” was the No. 1 song.

To get a broader glimpse into the nation’s housing market, my trusty spreadsheet reviewed a slightly different set of home sales figures created for the Southern California News Group by the real estate data firm Attom.

Unlike many industry yardsticks that track only existing single-family homes, Attom’s statistics follow closed transactions of all types of residences – newly built and older properties, whether they are houses or condominiums. The data dates to 2005.

These fresh figures tell us that 248,233 U.S. residences were bought in February. That was down 7% in a year and 9% below the 20-year average for the month.

But here’s the most stunning stat: The last time fewer homes changed hands in any month was February 2015. Yes, a decade ago, when the nation had 7% fewer households and Americans were flocking to the movie version of a racy novel and dancing to a Bruno Mars hit.

You see, homebuying across the country has chilled since the Federal Reserve began raising interest rates in early 2022 to fight the worst bout of inflation in four decades. Limited affordability plus economic uncertainty – not to mention stubbornly high prices – scared off many wannabe homeowners.

The price is wrong

Pricier mortgages have not cooled high home prices nationwide.

February’s median U.S. sales price of $352,000 for all residences was the ninth-highest on record and doubled in 10 years. It’s just 4% below the all-time high of $365,000 in June 2024.

Think about affordability going back to February 2015, when the average 30-year fixed loan rate was 3.7%, not the 6.8% of February 2025.

The estimated house payment a decade ago on the $175,000 median-priced residence was $645 a month – assuming a 20% downpayment. The 2025 payment on the $352,000 median was $1,843.

That’s nearly triple the payment pain in a period…

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Before pursuing a real estate deal, QUALIFY it first

LA Daily News — Sat, 03 May 2025 12:00:25 +0000

In commercial real estate, not every opportunity is created equal.

Some sparkle at first glance but fade with time.

Others seem ordinary but blossom into career-defining deals.

After decades in this business, I’ve learned that success often comes down to asking the right questions before diving in.

That’s why I developed the QUALIFY framework.

QUALIFY is an acronym — a checklist, really — designed to evaluate whether a prospect or assignment is worth your time and effort. Here’s what it stands for:

—Quantitative Need: Is there a real, measurable requirement? A client who says, “I’m looking for space,” isn’t enough. How much space? When? Where? Why?

—Urgency: Is there a compelling timeline? Deals without deadlines often drift. Urgency adds gravity.

—Authority: Are you dealing with the true decision-maker? Chasing opportunities through multiple layers of approval rarely ends well.

—Loyalty: Is the client committed to working with you exclusively, or are you one of many brokers they’re contacting?

—Intent: Is the client serious about transacting, or are they simply “testing the waters”?

—Fuel: Do they have the financial resources to complete the deal? No amount of motivation can overcome a lack of funding.

—Yearning: Finally, is there emotional motivation? A client who needs to move, grow, or solve a pressing problem will push through obstacles.

Years ago, I was approached by a business looking for a large industrial building. On the surface, it seemed like the perfect assignment. But as I ran through QUALIFY, warning signs appeared: vague needs, no urgency, and no clear decision-maker. I politely stepped back. That “opportunity” dragged other brokers through months of wasted effort.

On the other hand, a small but highly motivated manufacturer came along shortly after. They checked every QUALIFY box — and we closed their lease within 45 days. It became one of the smoothest and most rewarding transactions of my…

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Top 100 Lawyers 2025 – James Yukevich

LA Business Journal — Wed, 30 Apr 2025 22:43:14 +0000

James Yukevich
Partner
Yukevich | Cavanaugh

Trial lawyer James Yukevich is frequently consulted by the general counsel of For-tune 100 companies in areas involving liability issues, damages, proposed recalls and public relations issues. Since the end of the pandemic, he has taken to trial and resolved over 20 high-exposure cases involving companies such as Lenovo, Tesla, Uber, CVS Health, Jaguar/Land Rover, Skanska, among others. Yukevich founded his law firm with a clear focus on providing a special level of highly personalized expertise to each individual client as well as outstanding results in civil litigation defense. This past year, he has secured major victories in several high-profile cases, including successfully defending American Honda Motor Corporation Inc. in Gardner v. Honda Motor Co., a precedent-setting case in which the plaintiffs demanded $32.5 million.

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Top 100 Lawyers 2025 – Thomas Yoo

LA Business Journal — Wed, 30 Apr 2025 22:39:14 +0000

Thomas Yoo
Partner
Polsinelli

Thomas Yoo is a litigation attorney and chair of Polsinelli national Products Liability Life Sciences practice group. Yoo’s practice includes a variety of product liability matters and commercial disputes. He serves as national, regional and trial counsel on behalf of leading companies in numerous industries, including life sciences, manufacturing, financial services, real estate, transportation and private investment ventures. Yoo is regularly involved in some of the largest and highest profile mass tort litigations in the country involving consumer health and safety issues, including appointments to defense leadership roles in federal multidistrict litigations (MDL) and statewide coordinated proceedings such as Vioxx, NuvaRing and Zantac. He handles a wide range of complex cases, negotiations and exposures.

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New California neighborhood billed as first fire-resistant community in U.S.

LA Daily News — Wed, 30 Apr 2025 20:13:34 +0000

The homes in the half-built subdivision look a lot like all the others nestled up against the parched, shrubby hills of Escondido in north San Diego County.

But look a little closer. The gutters and vents are enclosed in a thin, wire mesh. Each window is double-paned, the glass tempered to withstand the heat of a wildfire, the stucco around the shutters resistant to flame. The privacy fences, a suburban staple, look like wood, but are actually brown-tinted steel. Every foundation sits behind a moat of gravel.

Also see: What is ‘home hardening’? Fire-resistant walls, roofs, windows and landscaping

National mega-developer KB Home is marketing Dixon Trail as the first purpose-built “wildfire resilient neighborhood” in the United States. The next time fire rips through the chaparral in surrounding hills (a question of when, not if) this cluster of homes is being built to keep the flames at the subdivision’s edge.

Though only half of the 64 homes have been constructed, the development had its grand opening earlier this month. No one from KB would say as much, but in purely marketing terms, the timing couldn’t have been better. For years, wildfire-resilient home and neighborhood design has been a niche consideration for many California homeowners. January’s Los Angeles firestorms have made it feel more like an urgent necessity.

“Buyers want to feel safe in their homes and this is a really big plus for them,” said Steve Ruffner, who oversees KB projects across the region.

The design of each house and the layout of the entire subdivision — with healthy buffers between each building and scant flammable vegetation — meet standards set by the Insurance Institute for Business & Home Safety, a research nonprofit funded by the insurance industry. The institute began issuing its “wildfire prepared” designations to homes in 2022. Think organic certification on produce, except for homes built to withstand wildfire.

This is the first time the…

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Tariffs could cost the average American household $3,800 per year. Here’s how to save for it

LA Daily News — Tue, 22 Apr 2025 19:39:52 +0000

By Marcos Cabello, Bankrate.com

Tariffs could cost the average American household $3,800 in 2025, according to The Budget Lab at Yale University. This estimate comes even as President Trump announced a 90-day pause on tariffs earlier this month, temporarily reducing most tariffs to 10% in the meantime, while maintaining higher rates for countries including China.

Tariffs — taxes imposed on imported goods — typically cause prices to rise as companies pass these additional costs to consumers. While this inflationary pressure may keep savings account yields elevated longer, it also means your everyday purchases could become significantly more expensive.

Here’s what you need to know about how tariffs will affect your finances and practical strategies to prepare your budget and savings.

How tariffs will impact your money

Tariffs may impact a wide range of consumer goods, with some categories facing steeper price increases than others.

Products expected to be impacted by tariffs, according to Yale’s Budget Lab study, include:

Electronics: Smartphones, laptops and televisions could see prices increases of up to 4.5 percent. Some reports estimate that manufacturing an iPhone in the U.S. could drive up the cost to as much as $3,500. And tariffs are already having effects on some electronic products, including the Nintendo Switch 2, as pre-orders have been delayed in the U.S.
Clothing and apparel: Leather products and apparel are the two categories expected to see the highest price hikes. The Budget Lab estimates that these products will go up by 18.3 and 16.9 percent, respectively.
Automobiles: Both new and used vehicles may become more expensive, with an estimated 8.4 percent increase for motor vehicles and parts. This affects not just fully imported cars but also American-made vehicles that use imported components.
Furniture and household goods: Imported furniture, including tables, chairs and home decor. Textiles (9.6 percent), wood products (3.3 percent)…

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LABJ Stock Index: April 21

LA Business Journal — Mon, 21 Apr 2025 23:02:48 +0000

How to Turn Today’s Volatile Markets to Your Advantage

In turbulent markets, it’s normal to feel concern and a higher level of anxiety. While the driving factors are beyond your control, focusing on what you can control may reveal unexpected opportunities.

Seize the day to gift in a down market

When markets decline, you can gift (transfer wealth) with unusual efficiency.
“Gifting on the dips” allows you to maximize the value you transfer while using less of your lifetime gift exclusion, currently $13.99 million for 2025. With the potential sunset of favorable tax laws in January 2026, this might be the last calendar year to take full advantage of the current exclusions and transfer more wealth tax-free.

Two trust types may be very appropriate

In today’s volatile markets, wealth transfer strategies can be particularly advantageous. Two types of irrevocable trusts—the grantor retained annuity trust (GRAT) and the spousal lifetime access trust (SLAT) – present ways to embed tax-efficient planning into your wealth management plan.

A GRAT allows you to transfer an asset’s future appreciation to beneficiaries with minimal gift tax implications. We think it’s a strategic move during market downturns, as gifting assets at lower values may provide for a much higher wealth transfer opportunity when markets rebound.

GRATs are especially effective with “beaten up” (significantly undervalued) assets that are likely to offer high appreciation potential.

It also helps to gift assets likely to appreciate to a SLAT to minimize future estate tax consequences.

For 2025, you can gift up to $13.99 million into a SLAT without paying the gift tax. Acting during market volatility could be extremely timely (this exclusion is scheduled to be cut in roughly half as of January 1, 2026).

Consider a traditional-to-Roth IRA conversion

In the current financial climate, converting a traditional IRA into a Roth IRA could be a strategic decision, especially if you have…

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Unemployment Rate Dipped Below 6% in March

LA Business Journal — Fri, 18 Apr 2025 23:52:39 +0000

Los Angeles County’s unemployment rate in March dipped below 6% for the first time since October, even as the county recorded a slight drop in payroll jobs, according to state figures released April 18.

The California Economic Development Department reported the county had a 5.9% unemployment rate in March, down from 6.0% for each of the two previous months. However, the main reason for the dip was a significant drop of 22,000 in the county’s labor force to 5.08 million, meaning fewer people were in the labor force looking for work.

Nonetheless, the county’s unemployment rate was still above the 5.5% reading for March of last year. It was also above the March statewide unemployment rate of 5.3% and well above the 4.2% nationwide rate.

The unemployment figures come from a survey of households in L.A. County, while the payroll jobs figures come from a sampling of employer payroll data submitted to the state.

The Employment Development Department also released a breakout of the March unemployment rates by city, though unlike the countywide figure, these rates are not adjusted for seasonal factors.

The county’s two largest cities – Los Angeles and Long Beach – posted rates of 5.7% and 5.2 %, respectively. The EDD data did not shed any light on whether January’s Palisades Fire affected the city of Los Angeles figure.

Among cities with more than 10,000 people in the labor force, Lomita had the lowest unemployment rate in March at 2.6% while Calabasas had the highest rate at 8.1%.

The roller coaster ride continued in March for the number of payroll jobs in Los Angeles County. After a huge seasonal drop in January of nearly 100,000 jobs and a rebound of nearly 30,000 jobs in February, the number of payroll jobs in March fell by 2,300 to 4.76 million.

The EDD also releases a payroll jobs figure that adjusts for seasonal factors. That figure for March showed a larger drop of 7,200 jobs when compared with the 2,300-job decline in the raw payroll job…

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