~ The Assembly Judiciary Committee today overwhelmingly approved Assembly Bill 425, co-authored by Assemblymember Chris Holden, who represents Monrovia. AB 525 makes it more difficult for chains to terminate franchise operators by prohibiting corporations from closing a franchise business unless there has been a substantial violation of the contract, the law or local regulations. It also allows franchisees to keep the equity they invested in the event of termination. Source: Holden press release
Comment: You can see the bill here ( http://goo.gl/d8GVBI ). What is interesting is that Holden introduced a bill that would impose higher fines on private investigators (see original: http://goo.gl/TuRt0q ), but then it was apparently gutted by amendment and turned into a bill regulating franchises.
~ J. Steven Roush, CPA, has been appointed to the board of Monrovia's STAAR Surgical. http://goo.gl/mXgZON
~ Monrovia's Empire Bikes reports that its own Scott Francis came in second in the Pro 1-2 at the Los Angeles Circuit Race.
- Brad Haugaard