Pico Rivera in good financial shape

The City of Pico Rivera is oper-ating in a financially prudent man-ner in the current Fiscal Year, which began on July 1, 2009 and ends June 30, 2010 (FY 2009/2010).

The City of Pico Rivera's budget exceeds $100 million for Fiscal Year 2009/2010, with a General Fund of $34.3 million and another $90 mil-lion budgeted for operations of the Water Authority, Redevelopment Agency, Housing Authority, and

Official Publication of the Pico Rivera Chamber of Commerce • April 2010 • www.picoriverachamber.org

The Business Journal“GOLDEN BUSINESS OPPORTUNITIES ”

CONTINUED ON 6

See PIH

Presbyterian Intercommunity Hospital signs letter of intent to aquire Downey Regional

Presbyterian Intercommu-nity Hospital (PIH) and Downey Regional Medical

Center (DRMC) today announced they had each signed a non-binding letter of intent with plans to execute a definitive agreement calling for PIH's acquisition of DRMC.

This will bring together two not-for-profit hospitals both with long standing histories of being dedicat-ed to providing quality care to the communities they serve.

The nonbinding letter of intent would allow for the continuation of a nonprofit hospital serving the greater Downey community.

Under the proposed structure, PIH would form a nonprofit entity to acquire the assets of DRMC un-der a plan of reorganization. Consid-eration for the asset purchase would be the promise of the nonprofit hos-pital to make payments to general unsecured creditors according to a proposed schedule.

The outstanding bonds of DRMC could either be guaranteed by PIH or an appropriate affiliate, or pos-sibly be assumed into the PIH Obli-gated Group.

"Now that the letter of intent is signed, PIH and DRMC can begin the process of creating an inte-grated regional healthcare system with many benefits for residents of the greater Southeast Los Ange-les County region serviced by the two hospitals," said James R. West, President and Chief Executive Of-ficer of PIH.

"By working with the manage-ment and physicians at DRMC, the two hospitals will be able to create a comprehensive network of health-care services that will be unsur-passed in the area." "We are hopeful that we can quickly come to terms under a definitive asset purchase agreement with PIH and allow for the new nonprofit Downey-based hospital to commence operations as early as this summer, as previ-ously planned," stated Rob Fuller, Executive Vice President & COO of Downey Regional.

"While this letter of intent is nonbinding and preliminary in na-ture, there is a natural geographic and operational affinity between the two organizations that should allow for the Downey-based non-profit hospital to enjoy successful hospital operations from the outset once twhe asset purchase agree-

Mayor Gregory Salcido and Pico Rivera Chamber President, Alex Saulus, HealthFirst Medical Group, get ready for the El Rancho High School Track and Field Trot. Photo courtesy of Oscar Castillo

The El Rancho High School Track and Field Program held a very successful 1K, 5K, and 10K. Even with the major rainstorm looming, hundreds of runners showed up, including several children who participated in the 1K Youth Trot. The Pico Rivera Chamber of Commerce’s presi-dent, Alex Saulus with HealthFirst Medical Group participated in the 10K and received the second place medal for his bracket.

Also in attendance was Pico Rivera’s Mayor, Gregory Salcido. Mr. Salcido was on hand to start

each of one of the races. At the conclusion of the race,

there was a medal ceremony and raffle. During the ceremony Mr. Saulus presented the El Rancho High School Track and Field Pro-gram a check for $200 on behalf of the Pico Rivera Chamber of Com-merce. Sylvia Mejia the coordi-nator of the Trot was very happy to receive support from the local businesses and is already looking forward to planning the second an-nual event.

Friends and supporter of the Pico Rivera Chamber of Com-merce, Harold Adishian turned 88 years young on Monday, March 22. About 40 of his business friends got together for breakfast to help him celebrate. Harold helped with

membership at the Pico Rivera Chamber for several years. Harold is always happy to hear how he has mentored so many people in becoming great business people today. Happy Birthday Harold!

[l-r] Arvin Ochoa, Business Development Director of the Pico Rivera Chamber of Commerce with Harold Adishian, retired, get ready to eat cake.

Pico Rivera Chamber donates and participates in El Rancho Track and Field program

Long-time Chamber volunteerturns eighty-eight

capital improvements funded by grants and special revenues.

This year's budget funds a 3.5% inflation adjustment, a 3% increase in labor costs, and a $1 million con-tribution to capital projects.

This was only possible because of the 1% sales tax increase approved in November 2008. The City's bal-ance sheet has a $9 million reserve, which is 25% of the General Fund. The Council approved this "rainy day" fund to stabilize the budget during economic uncertainties, to pay for one-time expenditures, and to fund capital improvement.

The budget includes funding for many projects and services for Pico Rivera residents such as:

• Construction of a new Library totaling $16 million, with $8 million contributed each by the City and the County.

• Investment of $20.3 million for reconstruction of Rivera, Smith, Rio Vista, and Pico Parks.

• Technology improvements to-taling $1.1 million for the Virtual City Hall project.

• Facilities improvements total-ing $10.2 million for various City buildings and facilities.

• Streets improvements totaling $15.8 million for projects through-out the City.

"Based on actual receipts, I ex-pect that the new 1% sales tax rev-enue will yield $5.5 to $6 Million in this fiscal year and $8 Million per fiscal year when the economy re-turns to normal," said John Herrera, Pico Rivera Finance Director.

The new sales tax revenue is now fully committed to pay for the 2009 bond payment, labor costs, and to close the budget deficit from FY 2008/2009.

2 PICO RIVERA BUSINESS JOURNAL • APRIL 2010 TO ADVERTISE CALL 800-901-7211

Pico Rivera Chamber of Commerce

5016 Passons Blvd.Pico Rivera, CA 90660

(562) 949-2473, Fax (562) 949-8320 info@picoriverachamber.org

Executive Committee

President Alex Saulus

HealthFirst Medical GroupVice President

Jose Medina Funeraria Del Angel/Morrow

Vice President Jim Osborn

Whittier FertilizerTreasurer

Cheryl Romero Preferred Bank

Board of Directors Sylvia Southerland

SouthernCalifornia EdisonOmar Martinez Farmers Insurance

Von Stroff Extra Space StorageSergio Quinones Cobe Chemical LabsAdrian Lechuga

A Mi HaciendaBill Kalpakoff

Cal Met Inc.David Briano

State Farm Insurance Shaun Radcliffe

Great Western Building MaterialsRandall Courtney

The Copy Center John Avila

New York Life Insurance Co.Victor Caballero

Mid Valley Yellow CabRay Chavez

Friends of the Pico Rivera Libraries

Dr. Liza DimarananPico Rivera Optometric Center

Wesley KruseKruse Properties

Staff

Melanie CowardExecutice Director

Elena Ramos Administrative Assistant

Arvin OchoaBusiness Membership

Development

Business JournalTo place an ad in the Business

Journal call 562-407-3873 for rates or visit www.picoriverachamber.org

and click on Advertising.

Advertisers must submit artwork two weeks prior to publication date. Artwork must be submitted in pdf,

tiff, or jpeg format at 300 dpi.

Published the fourth Friday of every month.

Message from the PresidentPico Rivera

is an eclectic mix of indus-try, retail busi-ness, banking, h e a l t h c a r e , e d u c a t i o n , and food ser-vice,– with a sprinkling of entrepreneur-ial diversity

thrown in for good measure – all working together for the common good.

The Pico Rivera Chamber of Commerce understands that in order to have a strong economic environ-ment, you must have a strong com-munity that supports and encourag-es growth and innovative thinking. We are truly blessed in Pico Rivera to have leaders, business owners, educators, and a wealth of private citizens who recognize that we all

share in the responsibility of creat-ing economic success and stabil-ity as well as a healthy community environment for our children and grandchildren.

As a community, we share the vision. We work, we volunteer, we support and serve as we build on the successes of those who came before us and develop new and innovative strategies that will make Pico Ri-vera even better.

For the past 52 years, the Pico Rivera Chamber of Commerce has diligently fulfilled the mission of the founding fathers to “create, en-hance, and promote the economic environment, employment opportu-nities and the quality of life in our community and to advocate and create solutions for business and community issues.”

The Chamber works with other local civic and private groups to encourage new business develop-

Alex Saulus

ment, to create awareness of prob-lems facing our community and to develop potential solutions, to be a source of information and support for business owners, and to main-tain and enhance the good that is Pico Rivera.

As the 2009-2010 Chamber President, I am honored to serve alongside the army of volunteers that work out-front and behind the scenes to build a better Pico Rivera for all citizens. That is the unique-ness of our community. We think outside the box, we work together to make things happen, and we sup-port the efforts of all.

If you’re not a member of the Pico Rivera Chamber of Com-merce, please join us today. Your investment will pay big dividends in many different ways as we work together to make Pico Rivera a bet-ter place to live, to work, and to raise a family.

The Pico Ri-vera Chamber of Commerce has assisted businesses in the com-munity since

its founding in May, 1958. Its

f i r s t priority is to help mem-bers be successful in business.

The Chamber is the voice for business in the city of Pico Rivera supporting beneficial legislation and opposing unnecessary or detri-mental legislation.

Excessive government regula-tions must be opposed and an eco-nomic climate maintained so that existing businesses will continue to invest their resources in the hope of making a profit.

Helping to resolve problems and focusing on the opportunities of the competitive market place contin-ues as the historic function of the Chamber of Commerce.Chamber Services

Take Advantage of the ChamberThe Chamber, through its commit-tee structure, provides a number of services, including:• Advertising Campaigns • Referral Services• Grand Openings• Business Community Beautifica-tion Awards• Business Publication • Maps• Directories• Business Development Workshops & Seminars

As a chamber member you can count on receiving quality service & support for your business. Your Chamber will provide you with: • New Member Listing in The Busi-ness Journal (monthly publication) • Classified & Alpha Listing in the online Business Directory• Networking Contacts & Social Opportunities via Participation in Committee Meetings • Membership Luncheons• Business Mixers & Special Events • Referral Service• Coordination of Business Oppor-

tunities • Small Business Management Seminars• Free Business Counseling via SBA SCORE Program • Digest of California Labor Laws• Industrial Directories • Certificates of Origin • Groundbreaking & Grand Open-ing Ceremonies • Marketing Information• Real Estate Listing Information • Resource Library

The Chamber makes this all work by acting as an umbrella over the committees in achieving its goals and objectives.

The active participation and involvement of its members, on various committees, is part of the strength found within the Chamber. We invite you to take advantage of your membership and become ac-tively involved.

The Pico Ri-The Pico Ri-vera Chamber vera Chamber of Commerce of Commerce

munity since munity since its founding in its founding in

May, 1958. Its May, 1958. Its

Advertise to over 1,400 Pico Rivera

Area Businesses and Chamber Members!

The Pico Rivera Business Journal is direct mailed to every business in Pico RiveraA PDF version is uploaded online at the

Pico Rivera Chamber and Business Journal websites.

Also hand delivered to over 30 businesses, City Hall, and the Sheriff's Department.

For information call Arvin Ochoa 562-949-2473

President, Alex Saulus congratulates Orbits Events Rentals Founder, Mike Gutierrez for their ribbon cutting. Orbits also kicked off a year-long celebration for their 25th Anniversary. Orbits is a full service event rental company. From table and chairs to popcorn machines call Orbits for any of your party planning needs at 562.696.8875.

Orbit Events Rentals celebrates 25th anniversary

PICO RIVERA BUSINESS JOURNAL • APRIL 2010 3TO ADVERTISE CALL 800-901-7211

MayCinco de Mayo MixerDate: May 5, 2010Time: 5:00 PM - 7:00 PMA Mi Hacienda9613 Whittier BlvdPico Rivera, Ca 90660B2B Networking BreakfastDate: May 11, 2010Time: 7:30 AM - 9:30 AMThe Whole Child10155 Colima Rd.Whittier CA 90603Chamber Members-$10.00Prospective Members-$20.00CAPC's Kaleidoscope MixerDate: May 13, 2010Add-Wear Blue to represent the Pico Rivera Chamber4:00 p.m.-7:00 p.m.Radisson Hotel Whittier7320 Greenleaf Ave.Whittier CA 90602RCA Legislative ForumDate: May 14, 2010Time: 08:00 AM - 09:00 AMSouthern California Edison9901 Geary AvenueSanta Fe Springs, CA 90670Contact InformationPico Rivera Chamber of Com-merce. 562.949.2473melanie@picoriverachamber.orgAny Pico Rivera Chamber member is encouraged to attend.Ambassador MeetingDate: May 18, 2010Time: 10:00 AM - 11:00 AMChamber Office

9th Annual Public Servant's Appreciation DayDate: May 26, 2010Time: 11:00 AM - 3:00 PMHosted by Funeraria de Angel MorrowsCall the Chamber at 562.949.2473Business Connection LunchDate: May 27, 2010Time: 11:30 AM - 01:00 PMPresidents Thai Café9340 Whittier Blvd.Pico Rivera CA 90660Fees/Admission$12.00 - Chamber Members$17.00 - Prospective MembersPre-pay available by calling or vis-iting the PR Chamber office.JuneB2B Networking BreakfastDate: June 8, 2010Time: 7:30 AM - 9:30 AMCrowne Plaza Hotel at the Commerce Casino 6121 Telegraph Rd.Commerce CA 90040Chamber Members-$10.00Prospective Members-$20.00RCA Legislative ForumDate: June 11, 2010Time: 08:00 AM - 09:00 AMSouthern California Edison9901 Geary AvenueSanta Fe Springs, CA 90670Contact InformationPico Rivera Chamber of Com-merce 562.949.2473melanie@picoriverachamber.orgAny Pico Rivera Chamber member is encouraged to attend.

Ambassador MeetingDate: June 18, 2010Time: 10:00 AM - 11:00 PMChamber OfficeBusiness Connection LunchDate: June 24, 2010Time: 11:30 AM - 01:00 PMDal Rae9020 Washing-ton Blvd.Pico Ri-vera CA 90660Come and joins us for net-working opportuni-ties while enjoying a wonderful lunch.

Community CalendarSoroptimist Fashion Show May 2, 201010:00 a.m.-2:00 p.m.Radisson Hotel Whittier7320 Greenleaf Ave.Whittier CA

City Council MeetingTuesday, May 11, 2010City Council Chambers6615 Passons Blvd.Pico Rivera For more information on any of the events listed please call the chamber at 562.949.2473

Chamber and Community event calendar

Advertise to over 1,400 Pico Rivera

Area Businesses and Chamber Members!

The Pico Rivera Business Journal is direct mailed to every business in Pico RiveraA PDF version is uploaded online at the

Pico Rivera Chamber and Business Journal websites.

Also hand delivered to over 30 businesses, City Hall, and the Sheriff's Department.

For information call Arvin Ochoa 562-949-2473

Attend the next Business Conection

Lunch! May 27 at President's Thai Cafe,

11:30-1pm

4 PICO RIVERA BUSINESS JOURNAL • APRIL 2010 TO ADVERTISE CALL 800-901-7211

The 13th Annual Scholarship Golf Tournament was held on April 1, at California Country Club. Despite the challenging times for many businesses-members, spon-sors, and golfers stepped up to support the Pico Rivera Chamber of Commerce to help provide scholarships to El Rancho High School students with the “I’m Going to College” program. The annual golf tournament is made possible by our Major Sponsors, Herrera & Associates CPAs, State Farm Insurance, Wal-Mart, and Whit-tier Fertilizer.

With the threat of rain looming, the clouds burnt off to what was a

beautiful day for all. With the sun shining, the golfers were treated to a delicious breakfast from Café N Stuff

on the patio at the golf club. David Briano-State Farm Insurance sponsored the Long Drive Champion, Frank Miller, who was at the #11 tee giving demon-strations, pointers and tips to the golfers.

After a day on the course, the golfers were

treated to an exciting helicopter golf ball drop. The helicopter circled the clubhouse four times waving to the tournament attendees before dropping the 400 golf balls.

Because it was April Fool’s Day,

the top honors were given the “Hones-ty Award”, which was won by Funer-aria de Angel Morrow’s, and the team from Transtech. The awards banquet attendees were treated to an evening of door prizes, giveaways, and great food provided by California Country Club.

“This tournament keeps grow-ing”, said Jim Osborne Co-Chair of the Golf Committee, "The volunteers and staff all know their roles so we can provide a fun and inviting atmo-sphere for businesspeople out on the links. Also, special thanks to David Briano with State Farm Insurance, Golf tournament co-chair for being so dedicated to this tournament”.

13th Annual Scholarship Golf Tournament

Thanks to all our generous major sponsors and supporters!Herrera & Associates CPA's, State Farm Insurance,

Wal-Mart, and Whittier Fertilizer.

PICO RIVERA BUSINESS JOURNAL • APRIL 2010 5TO ADVERTISE CALL 800-901-7211

Thanks to all our generous major sponsors and supporters!Herrera & Associates CPA's, State Farm Insurance,

Wal-Mart, and Whittier Fertilizer.

6 PICO RIVERA BUSINESS JOURNAL • APRIL 2010 TO ADVERTISE CALL 800-901-7211

PIHContinued from page 1

Advertise to over 1,400 Pico Rivera Area Businesses and Chamber Members!

The Pico Rivera Business Journal is direct mailed to every business in Pico RiveraA PDF version is uploaded online at the Pico Rivera Chamber and Business Journal websites.

Also hand delivered to over 30 businesses, City Hall, and the Sheriff's Department.

For information call 562.407.3873

Should Iincorporate my business?I. The Fundamental Purpose of a Corporation is to protect your Personal Assets and Income from the Liabilities of your Business.

When you form a corporation (or an LLC), you are creating a legal en-tity separate from yourself through which you can conduct business, instead of operating a business in your individual capacity as a “sole proprietor”.

This enables you (as long as you run your corporation properly) to protect your personal assets and income from the debts of the busi-ness. If your corporation gets sued and loses its case in court, the win-ner or “judgment creditor” can only go after the assets of the corporation to satisfy the judgment.

II. What’s Required to Form a Corporation?

You will need to find a corporate name acceptable to the Secretary of State, file your Articles and obtain an Employer Identification Number (EIN) from the IRS. You are then ready to open a bank account in the name of your corporation.

Keep this account separate from your personal assets. If you comin-gle them, someone might be able to “pierce the corporate veil” and get to your personal assets because you were not treating your corporation as an entity separate from yourself. The protection from personal liabil-ity discussed above will be lost.

A Corporation in California may be owned by one or more individu-als. To be a legitimate corporation, these individuals must buy some “shares” or “stock” in their own Corporation and thereby become its “shareholders.”

The shareholders of a small cor-poration often serve as its Directors and officers as well. One person can hold more than one office at the same time (in a 1 person corpora-tion the owner can be the President, Secretary and CFO at the same

Your businesstime). The directors are elected by the shareholders and typically make the major decisions for the Corpo-ration, while the officers handle the day to day operations.

III. You have to Practice good “Corporate Housekeeping” and Keep your Corporation Orga-nized and Updated

In order to remain in good stand-ing, a Corporation in California must meet certain requirements on an annual basis.

The basic requirements are 1) Timely filing of returns and pay-ing the taxes owed by the Corpora-tion; 2) Holding annual meetings of the shareholders and directors and keeping a written record of those meetings called “Minutes”; and 3) Filing an annual “Statement of In-formation” with the Secretary of State listing the Corporation’s cur-rent address, directors and officers.

The identity of the sharehold-ers need not be disclosed. Failure to maintain these formalities may cause your corporation to have its powers “suspended” and be unable to prosecute or defend a lawsuit among other consequences.

IV. What’s the difference between an “S” Corporation and a “C” Corporation?

The only difference is in how the two types of corporations are taxed. The IRS will automatically tax your corporation as a “C” corporation unless you file a form with the IRS called an “S Election”. If you timely file the form and the IRS accepts it, you will be taxed as an S Corpora-tion instead.

A C corporation is taxed at the corporate income tax rate on its profits and has to pay taxes sepa-rately from its owners. The owners also pay taxes when they file their individual Form 1040 tax returns. Besides paying dividends, the only way to get money out of a C Corpo-ration is to take a salary from your corporation. After all its debts and taxes are paid, a C Corporation can retain any profits it makes in the Corporation.

On the other hand, an S corpo-

ration pays no taxes at the corpo-rate level. After you pay yourself a “reasonable” salary, if there are any profits left over they are passed through to the shareholders in pro-portion to their percentage of own-ership, and each shareholder must report any profits received and pay the tax owed when they file their in-dividual 1040 return. There is no point in leaving any of the profits in the corporation since you will be taxed on them at the individual level whether or not they are taken out of the corporation’s coffers.

Forming a corporation is an im-portant decision and should be well thought-out. It’s not for everyone, but it could be the right decision for you and your business.

David Zeligs is the Legal Advi-sor at the Long Beach Small Busi-ness Development Center (SBDC). Hosted by Long Beach City College, the SBDC is a group of successful small business owners helping fel-low entrepreneurs start, sustain, and grow their business through low-cost workshops and free one-on-one consulting in business planning, fi-nance, marketing, and various other specialty areas (Spanish speaking consultants available). To make an appointment call: (562) 938-5100, or email: sbdcinfo@lbcc.edu.

ment is concluded," said Fuller. DRMC filed for protection under Chapter 11 of the U.S. Bankruptcy Code on September 14, 2009, cit-ing financial systems breakdowns and poor contracts as its reasons for filing. DRMC has operated at normal capacity with its full range of services, including its very busy emergency room, throughout the proceedings, and continues to pro-vide excellent care to its patients. On March 15, 2010, DRMC an-nounced that discussions with the Daughters of Charity Health Sys-tem had ended. "Our overall plan in these discussions is to execute a strategic transaction that allows for a Downey-based nonprofit hospi-tal to continue providing superior

healthcare services to patients in the community," said Kenneth Strople, DRMC's President and Chief Ex-ecutive Officer. "I want to reassure our patients, our employees, the physicians, and the community that DRMC and its services will contin-ue to be open as we move through these discussions," added Strople.

Presbyterian Intercommunity Hospital is a 400-plus bed acute care, non-profit hospital which was founded in 1959 with the commu-nity's trust and support — values retained today by maintaining the highest standards in medical ser-vices, in turn making us the area's acknowledged leading healthcare center. Through commitment to outstanding patient care, respect and compassion for all, responsive-ness, integrity, collaboration, in-novation, and stewardship, the PIH team is devoted to serving the needs of its community. PIH's healthcare team is comprised of a stellar clini-cal staff of almost 600 board-certi-fied physicians representing a broad range of medical specialties, highly qualified nurses, and other exempla-ry staff. Downey Regional Medical Center is a 199-bed, not-for-profit regional hospital and medical cen-ter that delivers healthcare services to Southeast Los Angeles County. Downey Regional Medical Center features sophisticated facilities and equipment complemented by highly trained medical, nursing, technical and support staff. Downey Regional provides care to more than 160,000 patients each and every year. As it enters its 90th year of continuing operations, DRMC looks forward to continuing its service to the local community.

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PICO RIVERA BUSINESS JOURNAL • APRIL 2010 7TO ADVERTISE CALL 800-901-7211 www.loscerritosnews.net16 COMMUNITY NEWS GROUP • APRIL 23, 2010 TO ADVERTISE CALL 800-901-7211

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8 PICO RIVERA BUSINESS JOURNAL • APRIL 2010 TO ADVERTISE CALL 800-901-7211

A Healthy Reminder.Are you satisfied with your medical care?

You should ask your friends and neighbors

about their experiences with Bright Health

Physicians. We believe you will hear some

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that we provide personalized health care

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through every stage of life.

Bright Health Physicians is the community’s

only medical group linked to Presbyterian

Intercommunity Hospital (PIH), the area’s

preferred hospital. We provide same day

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offices and have an Urgent Care Center

with convenient access in the evenings, on

weekends, and holidays.

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