San Joaquin Partnership

ECONOMIC VIEW -

Grow It! Make it! Ship It! @ San Joaquin USA

May 2014

Darryl Curry welcomed as New Partnership Board Director

Kaiser Permanente has selected Darryl B. Curry as its representative to the San Joaquin Partnership Board of Directors. Curry is Support Services Assistant Administrator and Area Safety Leader Northern California - Hospital Operations for Kaiser Foundation Hospital in Manteca.

Curry joined Kaiser Permanente in 2007.

He is responsible for the Medical Center's operations and activities with strategic development, planning and oversight of Plant Operations, Construction Services, Nutritional Services, Environmental Services, Landscaping/Gardening, Workplace Safety, Environmental Health & Safety, Security, and Emergency Management.

Curry has over twenty-five years of operational responsibility at Kaiser Foundation Hospitals, Shriners Hospital for Children, University of California Davis Medical Center, Fair Oaks Psychiatric Hospital & Outpatient Counseling Center, and United States Air Force Hospitals.

He has a Bachelor of Business Administration from National University, San Diego, CA and a Master of Business Administration with an emphasis in Health Services Management from Golden Gate University in San Francisco.

Investor News

Central Valley Community Bank introduces new President

Bank "well-positioned to continue growth and financial success in 2014"

Daniel J. Doyle (below left) was pleased to introduce James M. Ford, new President of Central Community Valley Bank, during a May 15th VIP breakfast at Stockton's Elkhorn Golf Club.

   Doyle, CEO and outgoing president, praised Ford, saying, "He brings the same culture and commitment that we've developed over the years."
   Ford, whose banking career began in 1980, gave some startling statistics about the nation's banking industry. He said in 1980 there were 17,000 banks and today, through consolidation, that number is now 6,800 with the top ten owning 57% of the business.
   "The industry believes there will be continued consolidation," said Ford, adding that Central Valley Community Bank is now the 448th largest with $1.2 billion in assets.
   Ford and Doyle said the major Ford

challenge facing the industry continues to be complying with regulations while keeping shareholders happy. However, their first quarter 2014 report says the bank saw an increase in first quarter earnings in 2014 over 2013 although they continue to feel the impact of low loan demand.
Guest speaker Dr. Jeff Michael, Director of University of the Pacific's Business Forecast Center, drew a round of applause when he said the economy is recovering and he felt the May jobs report will reach the U.S. benchmark in job recovery and any slowdown will be attributed to the extreme weather across the nation during this year.
"What's pulling California along [to recovery] is Silicon Valley," said Michael.

Editor's Note: Silicon Valley is pulling San Joaquin County along the road to recovery as well. This is illustrated by the San Joaquin Partnership's "Greater Silicon Valley" project that has so far resulted in the the expansion of Tesla Motors into Lathrop.

Jobs picture looking better

Pacific forecast sees recovery to 2007 levels

Strong job growth will soon push California to a new recovery milestone - 15.4 million nonfarm jobs, equal to the pre-recession peak seen in 2007, economists at the Business Forecasting Center at University of the Pacific reported Wednesday.

That's nearly a year earlier than previously forecast and is due to revised employment figures showing California jobs grew at a strong 3 percent rate in 2013.

Forecasting Center Director Jeffrey Michael said he's raised his expectations for the broader state economy because of the job growth, which is being led by technology and science-related industries, primarily in coastal California.

"The biggest concentration of that is computer programming and technology and R&D in the Bay Area," he said.

Still, Pacific's latest quarterly forecast shows all 10 metro areas it covers - five in the Bay Area and five in the Central Valley - posted solid job growth of greater than 2 percent.

California's recovery continues to gain momentum, despite the continued sluggish performance of the housing and construction sectors.

Read the full story

Partnership & Business Council Boards have "Meet & Greet" with PG&E President Chris Johns
Members of the Partnership and Business Council had the opportunity today for a casual meeting with Pacific Gas & Electric Company President Christopher Johns.

Johns joined Pacific Gas and Electric Company in 1996 as Vice President and Controller. He was named Senior Vice President and Controller of PG&E Corporation in September 2001 and elected Chief Financial Officer in January 2005. He was named President of Pacific Gas and Electric Company in August 2009.

Business Council Chairman Fritz Grupe (L) discusses his concerns with Johns (seated across).
Johns does several "field" visits annually and was in the Stockton area for several meetings today. Topics of discussion included how PG&E can partner on Economic Development projects and challenges facing development in the Valley.

In This Issue

PG&E to upgrade Tracy gas pipes

Pacific Forecast Center: Jobs picture looking better

Meet the CEO: PG&E president Chris Johns

Read the San Joaquin Partnership Annual Report online!