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Meeting and Event News
Rental Center News
JoRonCo Rentals
Susan Tobias 7501 East Brundage Lane Bakersfield, CA 93307 (661) 345-9892 www.joroncorentals.com Vendor News
Australian company Makinex is celebrating a milestone 20th birthday with a competition to win an all-exclusive trip to its homeland. The private company designs, manufactures and distributes innovative products to the global construction industry, and will celebrate 20 years in the business in 2024. In honor of the milestone, a lucky World of Concrete customer will win an impressive jackpot including flights, accommodation and access to iconic tourist attractions in Sydney, Australia. Makinex will launch the competition at the popular World of Concrete (WOC) 2024 conference to be held in Las Vegas, USA, from January 22-25.
FMI Equipment, a leading equipment dealer, recently announced a leadership change. Dave Kopp, the company’s President and Founder will be stepping down as President, effective January 1. Effective immediately, Brett Davis, will assume the role as FMI Equipment’s President. Dave will remain with FMI as its Chief Development Officer. Brett worked at CNH Industrial for over 25 years in various leadership roles, including leading New Holland North America, a leading Agricultural and Construction brand and CNH Industrial Capital, the 5th largest equipment finance company in North America.
Business News
Business taxpayers can file electronically any Form 1099 series information returns for free with the IRS Information Returns Intake System (IRIS). IRIS accepts 1099 series forms for tax year 2022 and after. IRIS is available to any business of any size. It’s secure and accurate and it requires no special software. It also reduces the need for paper forms. Starting in tax year 2023, businesses with a combination of 10 or more information returns must file them electronically.
Here are highlights from the recently released trade data from the US Census Bureau and US Bureau of Economic Analysis. Compared to a year ago, the November trade numbers in general show improved activity through the state’s ports. Both origin exports and destination imports were up in nominal terms. Although down sharply from the prior month surge, total trade activity through the state’s ports was also up (6.3%) in nominal terms compared to the prior year, producing continued improvement (on a 12-month moving average) in both the share of US trade through the state’s ports and the state’s share of total US origin exports. This improvement comes as port activity recovers from the uncertainty facing shippers during the prolonged labor negotiations, and as global trade patterns face disruption from the Panama drought and threats to ships transiting through the Suez Canal. In nominal terms, total trade through the state’s ports year-to-date remained down from the 2022 highs, but also remained above the pre-pandemic levels in 2019.
The Center for Jobs and the Economy has released their initial analysis of the November Employment Report from the California Employment Development Department.
November Data Again Posts Mixed Results. Nonfarm jobs showed a gain in November, although coming in at a more restrained 9,300 and the October gains revised down by 5,700 to a still respectable 34,500. Information gained as Motion Picture related jobs returned to pre-strike levels. Tech jobs also reported some gains, counterbalancing the continuing series of layoff announcements coming from this industry. While both showed growth in the unadjusted data, Transportation, Warehousing & Utilities reported only a modest increase in the adjusted series reflecting the general slowdown in trade activity compared to previous years’ seasonal bumps, and Retail Trade posted a loss in the adjusted data that reflects the substantial shift to online sales. Job gains, however, were dominated by the lower wage end, in particular continued expansion of government-paid very low wage jobs in Individual & Family Services. Employment—the number of people working—dropped again for the 5th month in a row, showing a loss of 35,400 for the month and a total drop of 147,700 for the five-month period. Combined with a growing number of unemployed, weakness in the labor force has now essentially eliminated the previous labor shortage conditions that had throttled down the state’s job expansion potential. Labor supply (number of employed and unemployed) has now fallen below labor demand (employed plus job openings), reversing the conditions previously favorable to stronger wage growth to a situation where increasing unemployment becomes more likely.
For additional information and data about the California economy visit www.centerforjobs.org/ca.
The California Business Roundtable extends sincere appreciation to Assemblymember Irwin, Chair of Assembly Revenue and Taxation, and the committee members for their prudent decision to hold Assembly Bill 259, the wealth tax proposal. We thank Assemblymember Irwin for her leadership and the committee's commitment to maintaining fiscal stability.
Jon Coupal, president of the Howard Jarvis Taxpayers Association, recently commented on a lesson he believes California can learn from Colorado...
Can meaningful tax reform advance, or even survive, in progressive blue states? In California, this is not just an academic question. Proposition 13 has been under constant assault since its passage in 1978. But the core of Proposition 13 – the one percent tax rate cap on real property and the two percent limit on annual increases in taxable value – remains unscathed.
Prop 13’s popularity over four decades has remained constant even as the California of Ronald Reagan and Pete Wilson has morphed into one of America’s most liberal states. Now, two-thirds of both houses of the California Legislature are held by Democrats, as well as all statewide elected offices. And yet polling suggests that if Prop 13 were on the ballot today, it would still pass by more than 60% just as it did in 1978. (Prop 13 even survived an effort to strip its protections from “evil” corporations when voters rejected the “split roll” initiative in 2020).
Calendar
April 1-3, 2024 – San Diego, CA
CRA Board of Directors Meeting February 28, 2024 – ZOOM
4th Wednesday Rental Workshop March 20, 2024 – Sacramento, CA
NorCal Territory Yard Party Hosted by Aba Daba Rents November 8, 2024 – Corona, CA
CRA / RSIF Annual Golf Tournament at Eagle Glen Golf Club Jan. 12 - 15, 2025 – Las Vegas, NV
CRA Rental Rally Tradeshow CRA UPDATE
This month, we asked members about rental trucks—do they rent them, and if so, what type of trucks do they rent, and what requirements do they ask for from renters? If you have additional ideas for surveys for CRA members, please email CRA at info@calrental.org.
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