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L.A. City Council President Proposes $30/Hour Rideshare Wages

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City Council President Proposes $30/Hour Wages for Lyft, Uber Drivers

LOS ANGELES (NBC LA) — City Council President Herb Wesson proposed Tuesday that drivers working in Los Angeles for ride-hailing services such as Uber and Lyft be paid a minimum of $30 an hour.

Wesson proposed the idea because he said drivers are not paid enough, and he called the action “one of the most significant rebukes” of the gig-economy by a local government.

“The flexibility that a ridesharing gig provides should not serve as an excuse for short-changing these drivers,” Wesson said. “Earning less than $10 per hour in Los Angeles simply won’t cut it. If these companies want to operate in […]

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Business

Anawalt to Fill Hardware Store Void in Pacific Palisades

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Anawalt Lumber Moving Into Norris Space


Anawalt Lumber will be taking over a portion of the space formerly occupied by Norris Hardware, President/CEO Rolando Robles confirmed to the Palisadian-Post on Monday, February 17.

The 12,400-square-foot building has sat vacant since Norris’ closure after serving Pacific Palisades for nearly 40 years.

“Nineteen months they’re without a [hardware] store, I know how hard that is,” Robles said about what inspired Anawalt to sign onto a Palisades store, adding that he is looking forward to serving the community.

Since Norris closed, rumors have swirled about what will occupy the space—with everything from a Pilates studio to an Apple store suggested.Anawalt, a family-owned and operated company […]

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The Most Expensive Home in LA Cost Jeff Bezos Only 0.13% of Net Worth

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LOS ANGELES (Los Angeles Times) — Amazon CEO Jeff Bezos walks onstage for the launch of the Fire Phone in Seattle. It can be hard to grasp the wealth of Jeff Bezos, the planet’s richest man.

Thankfully his decision to spend $165 million on a Beverly Hills mansion last week — a California record — offers some clarity.

For starters, there’s this easy calculation. Amazon’s stock, the source of Bezos’ fortune, bounces around daily, but as of the close of markets last week, Bloomberg’s Billionaires Index calculated his net worth at $130 billion despite a $833 million stock market hit Friday.

That means the nine figure sum he’s shelling out for the former estate of movie mogul Jack Warner amounts to only 0.13% of his net worth, rounded up ever so slightly. Not too many Angelenos could […]

Continue reading at latimes.com

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Business

Faring Seeking $375M in Construction Financing for WeHo Mixed-Use Project

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Faring Seeking $375M in Construction Financing for WeHo Mixed-Use Project

WEST HOLLYWOOD (Commercial Observer) — Faring is seeking $375.2 million in construction financing for Robertson Lane , its mega mixed-use development in West Hollywood, Commercial Observer has learned.

The five-year, floating-rate lending opportunity is being marketed by Cushman & Wakefield ’s Rob Rubano , Brian Share , Ernesto Sanchez , Joseph Lieske , Becca Tse and Keith Paden , according to an offering memorandum shared with CO. Officials at C&W declined to comment.

Sources said the deal hit the market on Tuesday.

When completed, the 1.92-acre project— located at 652 North La Peer Drive , at the edge of Beverly Hills—will include a 5-star, 182-room hotel, a private members’ club with 19 guest rooms and high-end retail, restaurant, office and banquet space. The development will also feature a three-level subterranean […]

Continue reading at commercialobserver.com

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