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South Bay Economic Forecast Predicts the Future is Green

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Group of all panelists at Economic Forecast, with CSUDH staging in background

In spite of uncertainty around interest rates and inflation, the South Bay has reasons to be optimistic over the next year. Such was the mixed economic picture painted in the 2022 South Bay Economic Forecast and Industry Outlook, which was released on Oct. 13 at the 8th annual CSUDH South Bay Economic Forecast, where more than 200 industry leaders gathered on campus to hear about the challenges and opportunities facing the region.   

Developed by CSUDH economics and public policy faculty through the CSUDH South Bay Economics Institute, the report presented an in-depth look at the economic health of key industries in the region, as well as housing trends, unemployment figures, and recession predictions. The Institute’s co-directors, Associate Professor of Public Administration Fynnwin Prager and Professor of Economics Jose Martinez, and Assistant Professor of Finance Jennifer Brodmann, started off the forecast event with a discussion of the report’s findings, including the cooling effect of rising interest rates on the highly competitive Southern California housing market.  

“As of today, demand [for housing] remains very strong,” said Martinez. “That’s what weird for economists, because how do you predict a recession when the economy is doing so well?”  

“It seems like the Fed [Federal Reserve] will eventually get what they want–to control inflation–but that will likely lead to a mild recession. Based on the numbers, that’s what we can forecast.”  

However, it wasn’t all bad news for the South Bay. The panel also discussed the silver linings of low unemployment in the region and high industry investment, productivity, and innovation.  

“We’re really excited for the future of this region,” Prager said.   

The Sustainable Transport Panel at the Economic Forecast
The Sustainable Transport Panel at the forecast.

Moderated by Frank Mottek, of 790 KABC’s Mottek on Money radio show, the South Bay Economic Forecast also included two panel discussions of the greening of the region’s economy. Ralina Shaw, CEO of RSPR Inc., a public relations firm that specializes in representing cannabis start-ups, joined the CSUDH faculty for the Cannabis Panel, which delved into the many regulatory and financial burdens that small cannabis farms and businesses face in trying to become licensed and acquire commercial real estate. Shaw highlighted the need for consumers to patronize small businesses, in order to avoid corporate takeover of the legal market.  

“As a community, the only thing we really can do is fight for better policy and then put our dollars where our values lie,” Shaw said. “If you care about Black-owned businesses and minorities having a space within cannabis, make sure you’re patronizing those businesses.”

View photos from the forecast on SmugMug.

The Sustainable Transport panel then took the stage, with James Dorris of Odys Aviation, Carl Hansen from Coco Delivery, Mike Ramirez from Avanti R&D, Joel Perler from the Port of Long Beach, and David Reich from Los Angeles World Airways at LAX.  

The panelists discussed their shared goals of getting people out of their cars, as well as the need for buy-in and collaboration from government agencies. They also emphasized the importance of increasing California’s grid capacity as more vehicles rely on electricity, and the integral role renewable energies could play in the state’s future.  

Watch the full forecast event below:  

CSUDH Partners with Japanese Consulate on New Job Training Program

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Consul General of Japan Akira Muto announces the Japan Job Training program at a campus event on May 9, 2022.

CSUDH students will have a new way to get a foot in the door of international industry leaders, with the introduction of the university’s new Japan Job Training (JJT) program. The university will partner with the Japanese Consulate and prominent Japanese and local businesses to create the JJT program on campus.

JJT is part of the consulate’s new push to expand collaboration between Japan and the Southern California African American community, with the goal of creating “a deeper kinship and mutual understanding,” said Akira Muto, Consul General of Japan, at an event on June 30.

“Equipping CSUDH students with the knowledge, skills, and experience necessary to compete for workplace opportunities and thrive in the workforce of today and tomorrow will require strategic, collaborative partnerships,” says CSUDH President Thomas A. Parham. “The Japan Job Training Program is one of those vehicles that can facilitate those outcomes.”

“I am excited and grateful for the partnership with Japanese corporations and their commitment to, and investment in, our academic and co-curricular endeavors. The synergy created by the alliance between the JJT and CSUDH is an initiative that we expect to be mutually beneficial for Japanese corporations and our beloved campus.”

The JJT program will be one of four pillars of the new collaboration, which is being conducted in tandem with the Los Angeles Urban League. The idea was sparked by discussions of the demise of the Toyota Technical Training Center, which was established on Crenshaw Boulevard in Torrance after the civil unrest of 1992. 

With the support of U.S. Representative and CSUDH alumna Karen Bass, the training center provided local youth with automotive training and job opportunities, in partnership with Toyota USA. It has since been shuttered, but Muto says, “We are working with CSUDH to launch a new program with the same spirit of opportunity.”

The JJT program has already gained the support of 11 top companies, six of which have previously partnered with CSUDH on various programs–Mitsubishi, Suntory, Panasonic, Manufacturers Bank, All Nippon Airways (ANA), and the REDAC Gateway Hotel in Torrance.

“This new partnership will pursue internships, mini-internships, and on-campus company recruitment opportunities. [It will help create] a new curriculum to better prepare students through research and development of new products, which we hope will lead to the creation of new jobs,” says Muto.

Muto added that Sony Pictures has already committed to offering two of their prestigious internships, complete with monthly stipends, to CSUDH students starting this upcoming academic year. The L.A. Urban League is expected to contribute by promoting related business activities in the region, helping improve the business climate, and supporting other initiatives aimed at improving local life.

An important aspect of JJT will be introducing CSUDH students to the variety of cultural differences they might encounter working for a Japanese company. “Japanese companies want to know that if they hire you, you will be the right fit,” says Joseph Wen, Dean of the College of Business Administration and Public Policy. “Even a small mistake or wrong word can be critical when you interview.”

“With this new program, we know that CSUDH students will not only graduate with the facts and knowledge they need for their degree, but they will learn cultural aspects that will allow them to fit in any kind of multicultural Japanese company.”

Wen adds that if the Japan Job Training program is successful, it could lead to other collaborations, such as German Job Training or Chinese Job Training programs. “All of these places have different work cultures from the U.S., and from each other,” he says. 

“Really, the potential is huge. That’s really meaningful to me. We don’t just open a small door, we open so many doors to our Toro students.”

Rafu Shimpo: Muto Details Japan, African American Collaboration

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Consul General Akira Muto at the CSUDH Japan Jobs Training Launch
Consul General Akira Muto at the CSUDH Japan Jobs Training Launch

Source: Rafu Shimpo

BEVERLY HILLS – Consul General of Japan Akira Muto announced on June 30 an unprecedented, four-pillar collaboration between Japan and African American communities, pledging “a deeper kinship and mutual understanding.”

“We are just so excited by this collaboration,” reacted Michael A. Lawson, Los Angeles Urban League president and CEO and former ambassador in the Obama Administration.

Impetus for the consul general’s plan, outlined during the L.A. Urban League’s 100th anniversary celebration, stems from a series of discussions involving African American and religious leaders that began after his arrival in the fall of 2019. Less than a year later, the May 25, 2020, death of George Floyd raised awareness of the need for greater understanding. 

“I felt it was very important for my consulate to get involved,” Muto said in detailing his “four pillars…that my consulate will work on with the African American community.”

The first pillar – the Japan & Black L.A. Initiative – was launched in November 2020 with Black clergy of the United Methodist Church California Pacific Conference.

“This Initiative strives to enhance mutual understanding between the Japanese and Black communities, as global citizens in God’s world. I feel it’s vital for the Japanese community to learn more about the history of Black America to get to know what the U.S. stands for,” Muto said.

“In collaboration with the UMC Black clergy, we held virtual workshops to share Japanese culture such as origami and Japan’s ‘soul food,’ onigiri. Together, we visited the California African American Museum and Japanese American National Museum.” 

Muto credited Rev. Dr. Kathey Wilborn of St. John’s Church in Watts, Rev. Dr. Ken Walden of Holman UMC in the West Adams area, UMC Superintendent Rev. Mark Nakagawa, and Dr. Curtiss Takada Rooks of Loyola Marymount University with working tirelessly to support this initiative.

Muto believes that further expansion of Japanese language education is an important element in the context of the first pillar. “In addition to holding a virtual Japanese language workshop for youth in partnership with the L.A. Urban League last fall, we’ve been in discussions for the possible opening of a Saturday Japanese language class in the future to allow a wider circle of children access to Japanese language, which I hope will increase their opportunities as they grow.”

The second pillar – Japan Job Training (JJT) program – focuses on business opportunities. In conversations with Lawson, the Toyota Technical Training Center that once existed on Crenshaw Boulevard was discussed. Established after the civil unrest of 1992 and supported by U.S. Rep. Karen Bass, the center provided local youths with automotive training and new job opportunities.

Muto stated, “We are working with California State University, Dominguez Hills (CSUDH) to launch a new program with the same spirit of opportunity.”

“This new JJT program has gained the interest and support of 11 Japanese companies, six of which – Mitsubishi Electric, Suntory, Panasonic, Manufacturers Bank, ANA and REDAC Gateway Hotel – have (already) partnered with Cal State Dominguez Hills. 

“This new partnership … will pursue internships and mini-internships, and on-campus company recruitment opportunities and seek a new curriculum to better prepare students through research and development of new products, which we hope will lead to the creation of new jobs,” added Muto.

“I am today happy to share that among these companies, Sony Pictures has already committed to offering two of their prestigious internships with monthly stipends to Dominguez Hills students, starting this upcoming academic year.”

For its part, the L.A. Urban League is expected to promote related business activities in the region, help improve the business climate, create a mutual benefit, and support prosperity toward improving local life.

The third pillar – youth exchange and support of next-generation leadership – is part of the Kakehashi Young Leaders program sponsored by the Japanese government. In a few weeks, L.A. City Councilmember Marqueece Harris-Dawson will lead a delegation of promising young African American leaders to Japan for a week-long visit to meet with Japanese officials and learn about Japan’s history, culture, and modern-day developments.

Delegates, selected by Harris-Dawson and Lawson, include: Diandra “Dee” Bremond, Dot education consultant and USC School of Social Work adjunct lecturer; Kristen Gordon, Kenan Advantage Group (KAG) owner and principal; Francis Roberts, Snap Inc. head of creator partnerships; Nicole Walker, Ontario International Airport Authority environmental planning manager and L.A. Urban League young professionals advocacy chair; and Prophet Walker, Treehouse co-founder and CEO. 

The fourth pillar involves local institutions. In March, led by Muto, the consulate partnered with the Japanese American Cultural & Community Center (JACCC) and its president and CEO Patricia Wyatt to hold Spring Jazz Night, which featured Black and Japanese musicians playing a dynamic fusion of jazz and traditional Japanese music. 

“Soon, the JACCC will launch the Bronzeville project, which will showcase the fascinating history of Little Tokyo during World War II as a hub of the African American jazz scene and bring more awareness to the shared linkages between the two communities and their mutually supportive relationship. Especially notable was how the African American community helped preserve the properties of Japanese Americans during the internment years of World War II,” Muto stated.   

Muto stressed the significance of such community-building efforts. “The Russian invasion in Ukraine,” he noted, “has shown the fragility of democracy. When we need the U.S. as a beacon of democracies, the divides within the U.S. hinder this fight.

“Therefore, the Japanese community will pool resources together to support efforts within the U.S. for unity, solidarity, and deeper friendship. The four pillars I mentioned today are our humble contributions to these efforts.”

CSUDH Launches New Japan Jobs Training Program

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Government, business, and university officials
President Parham shakes hands with Consul General of Japan Akira Muto.

On May 9, California State University, Dominguez Hills (CSUDH) and the Consulate General of Japan in Los Angeles convened with Japanese industry and community representatives to announce the Japan Jobs Training Program, a new academic-industry partnership which promises to bolster Southern California’s workforce and provide hands-on learning opportunities for CSUDH students.

Group tour
Dr. Kamal Hamdan gives a tour of the Toyota Center for Innovation in STEM Education.

The new program will be co-hosted by the Consulate General of Japan in Los Angeles, Japan Business Association of Southern California, and the Los Angeles Urban League. The CSUDH College of Business Administration and Public Policy will work with Japanese companies to establish special internships and micro-internships for students, company site visits, guest lecture series, and curriculum development tailored to industry needs.

CSUDH President Thomas A. Parham said that the university “cannot do what we do” without strategic partnerships with businesses, as they help to prepare students for their post-graduation careers and provide unique practical learning experiences. He added, “we pride ourselves of not just being in the community, but of the community.”

Consul General Akira Muto also spoke, echoing Parham’s sentiments about the need for mutuality. He referenced the strong ties between the U.S. and Japan, noting that Japan is the largest source of foreign direct investment in California. As such, Japanese companies are not only committed to upskilling the state’s workforce, but also invested in uplifting communities.

“We hope by increasing opportunities for underserved communities in the region, that it will help communities to unite,” Muto said. “This program is our humble contribution to these efforts.”

Rama Malladi Wins 2022 Excellence in Service Award

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Faculty Awards Rama K MalladiA decade ago, Associate Professor of Finance Rama Malladi decided to make a change, leaving a successful career as a financial analyst and consultant for global corporations to teach the next generation of business leaders.

He traces his decision to his upbringing, says Malladi. “My father was a school principal for more than 35 years, so I grew up in a teaching environment. When I was younger, though, that was the last area I wanted to be in. Rather than pursue the teaching path, I went into industry.”

For more than 20 years, Malladi worked or consulted for major companies and start-ups in the financial, health care, technology, telecommunication, and transportation industries. Having attained a level of financial security, Malladi took a step back and reassessed his goals. “After my years in the industry across three continents, I had the financial resources to focus on what I really wanted to do. I finally narrowed down my options on getting a terminal degree in my finance academic discipline and teaching–what I call a noble profession.”

Malladi’s work in support of the College of Business Administration and Public Policy (CBAPP), mentorship of CBAPP students, and efforts in securing important research grants have earned him the 2022 Excellence in Service Award. The honor recognizes faculty contributions to university governance and development and acknowledges that service and partnership are an essential component of CSUDH’s mission.

Malladi began teaching at CSUDH as an adjunct faculty member in 2012. After earning his PhD in finance from EDHEC Business School, a Grandes École in France, Malladi accepted an associate professor position at CSUDH on a permanent basis in 2017, teaching corporate finance, investments, and financial modeling classes.

“This is the place that I first started teaching, and it’s been love at first sight,” he says. “There is such great potential here for social impact as well as personal satisfaction.”

Malladi also holds an MBA from the UCLA Anderson School of Management and a Master of Technology in Electrical Engineering from the Indian Institute of Technology (IIT), Madras in India. He also holds a Bachelor of Technology in Electrical and Electronics Engineering with a first-class distinction. Malladi has served in several leadership positions, including the President & Board of Governor of CFA Society Los Angeles. Professionally, he earned Chartered Financial Analyst, Chartered Alternative Investments Analyst, Financial Risk Manager, and Project Management Professional designations.

His support of CBAPP and its mission takes many forms. Malladi was instrumental in helping to secure the largest donation by a living alum to CSUDH in the university’s history–a $700,000 pledge from CBAPP graduate Doug Le Bon (BS ’76, MBA ’79), senior managing director of Pathway Capital Management.

In collaboration with the Alumni Relations office, Malladi recorded a video “sales pitch” that they could show to potential donors. “Because of my industry background, I could appeal directly to the alumni in a language they understood,” says Malladi. “I explained what the money would be used for and why it was necessary, and it resonated with some donors.”

Le Bon pledged $500,000 to CBAPP for scholarships, and another $200,000 to purchase several Bloomberg Terminals, software systems that enable users to monitor and analyze financial market data.

“Access to education is one of the hallmarks of CSUDH,” says Malladi. “Bloomberg Terminals provide access to rich, real-time financial data to our CBAPP students, connecting them to a network of over 325,000 of the world’s most influential decision-makers.”

In 2021, Malladi also helped secure a $1.8 million grant from the Bureau of Cannabis Control to conduct research related to the economic and social impact of the cannabis industry on the South Bay area. Malladi is leading a team in conducting a comprehensive economic impact analysis of Prop. 64 on the South Bay by ethnic group, which includes research on job creation, cannabis revenue, tax generation and evasion, and legal and illicit market prices.

In early 2022, the CSUDH Finance Student Society that Malladi mentors took second place in the regional Chartered Finance Analyst Institute Research Challenge. The competition tests participants’ analytical, valuation, report writing, and presentation skills as research analysts. Malladi’s three-person team competed against local schools such as UCLA, Pepperdine, and Loyola Marymount to claim the runner-up spot. Even more impressive, the three-member CSUDH undergraduate team competed with five-member graduate teams from other universities.

According to Malladi, his biggest challenge in advising the CSUDH team is often just convincing them that they have a genuine chance of winning a finance competition against larger, more well-known programs. He gives full credit to the students for their success. “The team this year won because they put their hearts and souls into the competition. Their leadership, presentation, and quantitative skills all contributed to their performance.”

Malladi says that his willingness to help out on so many different fronts comes easily to him. “Some people are naturally inclined to be on that path, to be service-oriented people. I see CBAPP as a professional community, and I am always willing to take on activities that will advance the community. Really, it’s all about just stepping up and saying, ‘I’m available, and I’m willing to help.’”