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Sunday, Jan 19, 2025

The Digest

Mellick Leaves 21st Century Woodland Hills-based 21st Century Insurance announced that its president and chief executive, William L. Mellick, resigned after 20 years with the company. Mellick said through a statement only that he planned to pursue other business and personal interests. The resignation was not expected, though some analysts speculated it could be related to American International Group’s growing interest in the company. AIG bailed 21st Century out of bankruptcy with a capital infusion to help the company pay claims from the 1994 Northridge earthquake. AIG now owns more than 50 percent of the insurer and has control of its board. Mellick had been the company’s CEO for six years, and prior had served as vice president of various divisions. The company also announced it will expand its Internet operations, offering insurance policies online through InsWeb Corp., a Redwood City company that allows consumers to shop for insurance. Hertzberg Elected Speaker Robert Hertzberg, D-Van Nuys, was unanimously elected speaker of the state Assembly. Hertzberg will assume the post April 13 when current Speaker Antonio Villaraigosa, D-Los Angeles, steps down to run for mayor of L.A. Hertzberg, 45, is known for his organizational skills and attention to detail. He is the first speaker from the San Fernando Valley in a quarter century. A Sherman Oaks lawyer, Hertzberg’s election to the speakership was expected. He said his focus will be on improving conditions for the state’s mentally ill and improving California’s crowded roadways. Hertzberg will be forced to leave office by term limits in 2002. Landscaping Acquisition Calabasas-based Environmental Industries Inc. agreed to buy STM Landscape Services Inc., making the company the largest private landscaper in the country. Financial terms of the deal were not disclosed. Environmental Industries is one of the largest landscape maintenance and management companies nationwide. Virginia-based STM is valued at $12 million, according to Environmental Industries. The merger is expected to increase Environmental Industries’ revenues to more than $500 million a year. It will also expand the company’s reach into Virginia, North Carolina and the District of Columbia. Countrywide Looks Overseas Countrywide Credit Industries Inc. will expand its international offerings, adding a subsidiary to handle mortgage and real estate consulting for foreign and domestic clients. The company is hoping Countrywide International Consulting Services LLC will spread American-style business models to other countries. The company is considering its first contracts in Asia, South America and the Middle East. The unit will be based in Calabasas and run by Michael J. Lea, an international financier and former president of Cardiff Consulting Services. The new unit will provide technical assistance, training services, business plan development and real estate market analysis. Countrywide first entered the international arena last year in a partnership in the United Kingdom with Woolwich PLC of London. New Building in Valencia Los Angeles-based Investment Development Services Inc. announced it will build a 206,000-square-foot industrial facility in the Valencia Commerce Center. The $15 million building will be situated on 10 acres and complete the third phase of the Vista Business Park at the center. IDS is partnering with Kennedy Associates Real Estate Counsel Inc. to develop the center, which is being built on speculation. The building is slated for completion by the end of this year. Regional Planning Recommendation The Los Angeles Planning Commission recommended creating six regional planning panels, two in the San Fernando Valley, to give residents more local control and streamline the planning process. The new system would begin July 1, pending approval by the City Council. The Valley would be divided roughly along Roscoe Boulevard between a north and south district. The commission voted 3-2 for the six districts; the two dissenting members had pushed for seven local panels. The local planning commissions will take over jurisdiction of the city Board of Zoning Appeals and will have decision-making power on property within their areas. There will still be a citywide panel, which will expand to nine members, and cover citywide planning issues such as airport expansion. The additional panels are to be created under the recently revised city charter.

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