Inside City Hall with Councilwoman Jan Perry: Part 2 of 2

Here is the second part of my interview with Los Angeles Mayoral candidate Jan Perry.

Q: Institutions like the University of Southern California (USC) and Los Angeles Trade Tech have been an important part of the educational landscaped Downtown. How do our educational institutions fit into the development of our urban core today and in the future?

A: We have many fine institutions that I have worked closely with to ensure positive growth. The Fashion Institute of Design and Merchandising recently finalized their expansion plans that includes a new sign district. They are an integral part of the community as they are uniquely situated adjacent to the Downtown Fashion District, which is the second largest industry in our city behind filming and entertainment. I believe that the continued growth of their campus will support the growth of the fashion industry in the City of Los Angeles.

Educational institutions like Los Angeles Trade Technical College have played a major role in the positive development of Downtown and the surrounding communities. They are training the workers of the future and are well-positioned to train hospitality, construction and culinary workers for the jobs that are being created today and in the future.

USC is currently going through the development of a specific plan and development agreement with the City that will upgrade their campus and re-imagine University Village into a retail center for the region. I established a negotiating team to ensure that this development moves forward while respecting the needs of the surrounding community. I believe that, through this process, we have been able to strike a good balance that allows us to move forward with confidence.

Q: Downtown has long been a diverse place, for people living at all levels of the economic spectrum. In this respect, the development landscape must mirror this. Can you tell me about how you balanced the needs of both the people now living in Downtown LA and for future residents?

A: I have a planning background. From the beginning, I worked to create a jobs/housing balance in my council district. I used and developed many planning tools for increased density and for the Downtown street standards to encourage developers and make it easier for them to navigate the City’s entitlement process. And I worked to preserve affordable housing.  I am a proud supporter of the Affordable and Supportive Housing Trust Fund that enabled me to work with both the for and non-profit affordable housing developers to leverage hundreds of millions of dollars into permanent affordable housing for seniors, working families and the homeless. These projects have a 55 year covenant for affordability.

Most recently, we cut the ribbon opening the YWCA Urban Job Corp Center in South Park. This center offers job training, housing and services for emancipated foster youth and at-risk young people. The program provides job training and placement in the surrounding community. This includes the jobs created by projects like Wilshire Grand and Farmers Field. I am proud of the role that I played in this project, working with the YWCA to acquire initial funding from the CRA and to leverage resources to finance the project that houses 400 transitional age youth. The Downtown Women’s Center is the only homeless service provider in Skid Row for women. The new center was made possible because I worked to convert an ageing shoe factory into a beautiful, award winning, adaptive reuse service enriched supportive housing and service project.  I believe that projects like these enhance the area for more real estate investment while working to meet the needs of the community.

Q: For any residential community to be successful, you need the right balance of housing, jobs  and amenities. What is the retail and amenities mix of Downtown and what is the future for this sector?

A: Retail is an important component of every community. The adaptive reuse ordinance helped jump-start the residential component of Downtown, and along with development came many niche businesses occupying the ground level floors of these buildings. These small businesses continue to grow. You can see the evidence on Main and 7^th Street where restaurants, beauty stores, dry cleaners and specialty stores have filled once empty store fronts.  The entrance of big name retailers like Ralphs, and more recently Target, have demonstrated the strong buying power that now exists Downtown. I worked closely with both and know that this is just the beginning for the Downtown community. The future will bring a brand new Fig at 7^th mall with attractive store fronts, a unique and appealing food court and farmers market. I am also confident that the final phase of the Grand Avenue project will bring more big name retail development to Downtown. With the mix of small niche businesses and key large-scale retail operations, Downtown will continue to grow, creating the need for more retail leases.

Q: You are running for Mayor of Los Angeles. What lessons have you learned about real estate and development during your time as a Councilmember that you believe will translate to your platform citywide?

A: The biggest lesson I have learned is that the best way to get things done is to be honest and straight forward when it comes to development. I have lived by the philosophy that you need to tell people what to expect and follow through in a manner that supports their interests and goals. I directed my staff to meet weekly with developers. It has provided them with the opportunity to present their plans and receive feedback and provide assistance before the start of their project. This process gave greater confidence in the entitlement process. Major projects were addressed with multiple city agencies meeting with developers simultaneously to sort out challenges. Developers knew what to expect in advance. All too often, I hear that the city is confusing and difficult to navigate. I have a reputation for streamlining the development process and getting projects done. I would bring this same level of skill to the mayor’s office. I worked to meet community needs and serve the interests of all of the people I represent. I believe that a great deal can be done to restore and stimulate development in every community in Los Angeles in a manner that meets the needs, growth interests and is done to a scale that honors and serves the community interests. 

I have a record of being proactive and of seeing projects to completion. You can expect nothing less from me as your next mayor.

Inside City Hall with Councilwoman Jan Perry: Part 1 of 2

I had a nice sit down with Councilwoman Jan Perry, who is currently running for Mayor of Los Angeles. We discussed many issues about Downtown, and if she can win the Mayoral election, Los Angeles is in for a great future!

Q: Under your tenure on the City Council we have seen Downtown Los Angeles flourish and develop into a city center with 40,000 residents. In fact, over the past decade alone, the Downtown Center Business Improvement District (DCBID) has reported that Downtown has seen over $9 billion in private investment, 90,000 new jobs, and $40 million in new tax revenue for the city.

What do you believe was the catalyst for this tremendous growth?

A: The faith of our business, development community and private sector, along with the support of government agencies like the Community Redevelopment Agency, helped spur the renaissance that we have enjoyed in Downtown Los Angeles. The catalytic development of the Staples Center in the 1990’s replaced parking lots and paved the way for LA Live and now the new Farmers Field stadium and Convention Center expansion.

The city adopted the Adaptive Reuse Ordinance allowing for the conversion of underutilized industrial and office buildings into mixed use housing and retail development. We have fostered public/private partnerships that have resulted in tremendous projects that include housing for people living at all income levels. This development activity continues to act as a catalyst for more investment and growth that extends beyond Downtown Los Angeles and into neighboring communities.

Downtown Los Angeles offers higher density development for people that want to live in the urban core. New housing has led to greater investment and brought new restaurants and neighborhood retail like full service stores and a new Target for Downtown workers and residents. Downtown Los Angeles is a major employment center. I worked hard to provide as many opportunities for people to live close to their work place and establish a jobs/housing balance. 

I am proud of the role I played in the development of LA Live and the Convention Center Hotels which helped establish the Sports and Entertainment District to attract larger conventions. This project demonstrated the potential of downtown and with the addition of a new football stadium and expanded exhibition space it is estimated that we will need five more hotels to accommodate a far greater level of activity. Downtown has transformed into a 24 hour city and a place where people come to work, live and be entertained.

The past decade has brought a renewed faith in the capacity of Downtown as the economic engine for the region. I believe my vision for Downtown as a center for our tourism, entertainment, cultural events, civic engagement, job creation and residential living has been realized through my effort to ensure that development and development partners were given realistic guidelines and expectations in which to navigate the city. I have been a person of action and someone with a record of getting things done. I believe that what we have been able to accomplish Downtown is remarkable.

Q: You have long been a champion of creating a true cultural corridor to highlight the wealth of cultural opportunities in Downtown. In fact, you served for eight years on the Grand Avenue Joint Powers Authority as Vice Chair. While this project has changed since it was first envisioned, what can you tell us about its future?

A: The Grand Avenue Project began under Mayor Hahn and continues today, despite the many hurdles that we have faced along the way. From the downturn in the economy to the dissolution of the CRA, this project has had its ups and downs. Through it all, however, I remained confident that we would bring quality development to our cultural corridor. I am proud of what we have been able to accomplish. The results speak for themselves: a new 12-acre civic park, the development of the Broad Museum, and a future mixed-income housing tower with space for restaurant and retail operations, and a central plaza that will serve as a gateway to the Downtown Regional Connector. The Regional Connector will connect light rail and subway services from Long Beach, Hollywood, the San Fernando and San Gabriel Valleys, the West Side and South Los Angeles and make coming to Downtown far easier by way of public transit. The ongoing development of our public transportation infrastructure is a key component to the future of our region. We will not get people out of their cars unless we offer them a variety of affordable living situations close to where they work.

Q: Hotel development Downtown has been an important issue. You have been at the forefront of many of these large-scale developments, highlighting the need for more hotel rooms for conventions and tourism. Can you tell me about some of these projects?

A: For many years, our Convention Center and LA Inc. (our Convention and Visitor’s Bureau), have told the City that we need more hotel rooms in order to truly compete for large conventions. We responded with the development of the JW Marriot, adjacent to the Convention Center. I worked closely with the developer and the city staff to structure a financial incentive package to help the development pencil out. The hotel created new jobs for the region, met our need for a convention center hotel, and contributes new tax revenue for city services like fire and police.

This, however, was just the beginning. I chaired the City’s Ad Hoc Stadium and Convention Center Modernization Committee and, after over a year of negotiations and public input, we were able to draft a development agreement with AEG to build an Events Center /NFL Stadium and modernize the West Hall of our current Convention Center. With this new space, we will move from 15^th to 5^th in convention exhibition space. This is good news for the entire region as large conventions utilize hotel space throughout the region.  

I am excited that I was able to work with the Wilshire Grand Hotel on their redevelopment efforts, supporting upgrades that will accommodate more room nights and visitors within walking distance of the Convention Center. I also worked closely with Marriott to help structure a similar deal with them on the development of two new hotels on Olympic Blvd across from LA Live. Both will be major boon for the Downtown area, creating thousands of construction and permanent jobs and support tourism in the region.

The Recovery Continues

It has been awhile since I last wrote. I just returned from Europe and in the tourist areas of Greece, Turkey, Israel and Italy there were very little signs of a recession or slow down.

Restaurants were busy, hotels were jammed, museums had lines and things seemed very good. I ran into a friend from Los Angeles in Jerusalem and had dinner with local philanthropists Stanley and Joyce Black in Venice, Italy.

Earlier in the year, a lawyer friend and associate contacted me about listing a property in the San Fernando Valley. The property is Center BMW headquarters (for over 25 years), who are the tenants. Prior to my trip, I met with the owner, who inherited the property from his step-mother. We decided to sell the property to Center BMW, who were more than ready to be the owner of their new 30,000 sq.ft. showroom and 169,000 sq.ft. dealership. The deal was made without having to be placed on the open market! Both Buyer and Seller were happy and the transaction closed upon my return from Europe.

David Farguson, the president and new owner of Center BMW, is a really nice guy, and I suggest that you meet him personally if you want to buy or lease a new car. I know that I will get my next car from him. You can reach him at 818-907-9995. Center BMW has developed a loyal following from celebrities and “regular” people alike.

When I returned from my trip, I noticed the Downtown Los Angeles and Hollywood real estate markets were exploding. We are currently in the middle of so many deals and the future is looking very good. Again, owner/user type deals are just going crazy with easy money i.e. SBA financing at 4% interest (20-25 years amortized).

Our residential business in and around L.A is doing very well too. There are a shortage of condo's in Downtown Los Angeles and we are making many land deals for development. Laura Silver, from our office, was recently voted the best Residential Broker in Downtown by the Los Angeles Downtown News.

Another good sign about our Los Angeles economy is that the lower end housing is doing well. I met with Lori Gay of Los Angeles Neighborhood Housing and she told me that they have multiple closings daily, and multiple offers for all types of housing. NHS provides housing services to over 10,000 new home owners annually. She and NHS are amazing.

The lag in the economy is in retail rental properties. This is due to competition, people buying over the internet, and overall conservative spending on the consumer level. The biggest risk to the continued growth and prosperity continues to be government debt. This needs to be addressed on all levels: city, state and federal.

It’s good to be back and with you again.

Real Estate Recession is Over

"It was the best of times, it was the worst of times; it was the age of wisdom, it was the age of foolishness;...”
A Tale of Two Cities by Charles Dickens

When cycles change, they usually don't announce that they are here. Usually they advance onto the market in a slow gradual pace. What’s amazing about this cycle is that it’s screaming out that the real estate recession is over. I am here to tell you that we have hit bottom and now is the time to start buying.

The house on the corner where I live in Mar Vista went on the market for $795,000 (a modest 1,300 sq. ft. home). They had the first open house Sunday and had over 100 people visit.

I had a conversation with Robert Minskey of Commerce Escrow in Downtown Los Angeles, an company we use a lot. Rob told me they are hiring and are very, very busy. Deals of all types are getting done. Vacancy rates are way down and all types of real estate are getting offers from multiple buyers.

A few weeks ago, I had a meeting with Kara Savoian Chase Bank, and they are becoming very aggressive for deals. Last week I had a meeting with Joe Pacis of City National Bank and about 15 of their loan officers. They were all very hungry for deals. Today I had lunch with Gus Ghusayni and Sania Kazimi from Wells Fargo Bank. They said the bank is sitting on $150 billion nationally and they want deals.

I got a call today from mortgage broker Barry Weinstock, whom I’ve known for many years. He was so excited about insurance companies that have so much money to lend. He has arranged literally billions of dollars worth of loans in his career. My clients are making offers on properties that sat for months and some for years. The tide is turning and now is the time to buy.

The good news is that you can still find good deals. I just put a deal into escrow on a 26,000 sq.ft. vacant warehouse for $1,220,000 ($47 per sq. ft.). Once the real estate market chooses a direction, it goes that way. Since October 2008, it has been on the way down, and now in March 2012 it’s on the way up! The pace of buying, if it continues, will start to drive prices up. But I feel for the most part we have hit bottom and have stabilized.

Appraisers are starting to look at deals and putting in appreciation for future value. This is one of the most amazing phenomena that drives real estate up. If the properties don't appraise, then the deal does not get funded. When appraisers start to look at the market with optimistic eyes, that’s when things start to rise.

Low Interest rates are also a leading contributor to this new cycle. This is a man-made cycle and the force of QE1, QE2 and QE3 have for now, saved our markets. Now is the time to identify quality real estate and get in before the big increase in prices. The price per square foot and cap rates will take off in all real estate like the apartment markets have maintained. Be warned, location and property type, tenant mix and manageable debt are the new rules of the day (as they should be always). This cycle will be orderly and specific to quality and well balanced debt. Those that don't heed this warning will fall and lose money even in this up cycle. And the biggest danger to this cycle and your success is technology.

The internet is unforgiving and a merciless lifeless animal that eats up all industries that get in its growth path. Just ask Barnes & Noble and Blockbuster. And, like Netflix learned, don't mess with success and turn off the millions of users and get greedy. They will drop you and go to the next site that streams movies.

Do you think Best Buy will survive the rise of the machines? Who else is a target for the big and mighty World Wide Web? Countries have fallen to the internet. Watch your office buildings and retail stores carefully. Even the U.S. Post Office is in danger of becoming obsolete. But I hereby announce that the real estate recession is over and the next cycle has begun!

“The past is an illusion and the future is unknown, you only have the present moment, so live life to the fullest.”

Do Bad People Think That They Are Good?

Take the guy who drives like a maniac and cuts you off and then gives you the finger for driving too slow.

Or what about the person that gets back the wrong amount of change from a clerk at a store or fast food place? You know, they gave the clerk a $10 bill and the clerk gives back $15 in change or something like that, then instead of correcting the mistake, they keep the money and call the clerk stupid when they get out of the store. Further, they are proud they got the money. Is this wrong?

Today I went to see a young man have his first amateur fight as a boxer. I know him and his father from my working out at Wild Card Gym in Hollywood. I had a mid-life crisis, joined the gym and fell in love with the sport.

I went to East L.A. to a little boxing gym named "Eddie Heredia's" to watch Terry Bodine have his first fight. He won by TKO in the first round and it was very impressive. He was beyond joyful as he leaped up on the ropes with fists extended in victory. I was so happy for him.

What really moved me was that prior to all the fights taking place, the announcer (former Gold Medalist Paul Gonzalez) asked everyone to rise and sing the national anthem!

Granted, the guy could not sing, but every one of the 100+ people rose and sang with passion and respect. The day was about young men competing and playing by the rules and appreciating what they have. I was impressed with the entire afternoon and all of the participants. I have been boxing now for 3 years and am still learning the discipline of what it takes to get in that ring!

Over the past few years a select group of Savoy investors decided to take advantage of the economic turmoil and go into strategic default. My definition of a strategic default is the deliberate act to defraud a lender. Now why would anyone want to defraud a lender with laws that if proven, could include jail time? The simple answer is greed.

In the commercial/industrial real estate world, this is happening on a small basis. But it is rampant in residential real estate, where up to 30% of all homes in default are strategic. The purpose of a borrower and Savoy investor to enter into the world of strategic default is to renegotiate the current loan to a lower rate, possibly a reduced principal adjustment, or break an onerous loan and refinance without penalties. Another more personal reason would be to show weakness in equity to get out of a costly divorce or other personal gain.

Now I’m not giving legal or marriage advice here, so keep cool. I’m also not suggesting that you as a property owner, home owner or interested party enter into the strategic default game, as you could get stung!

Another game the really creative defaulter will do is to enter into strategic bankruptcy in order to wipe out the creditors and reset their financial position. This can buy time while the owner continues to draw income from property, while not paying the mortgage. Again, I am not suggesting that you stop paying your bills and go bankrupt.

There is a single asset for real estate bankruptcy that has many pitfalls and the lenders can be tough on those types of borrowers that try to delay a foreclosure. Bankruptcy is supposed to entail filing a plan to reorganize and turn a profit at some future date. If the property is owner occupied, what is going to be the difference with a bankruptcy? Probably nothing, and the judge is going to void the asset from the bankruptcy.

There are some expert Bankruptcy Attorney's that can guide you through the maze should you need to consider delaying a foreclosure and reorganizing your portfolio. Here are a couple of reputable attorneys that I know: Sara Chenetz: 424-239-3464; and David Kupetz: 213-626-2311.

So, is a strategic defaulter a bad person doing good, using all the laws at their disposal to improve the bottom line? How do you feel about a person or company that uses default as a tool to get out of paying their bills? What if they are really wealthy and are just using a tool to defraud the banks?

I’ll let you decide.

Horse Racing & Real Estate

When I was 8 years old, my dad, my uncle Sam and cousin Howard took me to the race track at Hollywood Park. It was an amazing day for us as we won and won big. I will never forget that they asked me who to bet on. The first horse I ever picked was Celestial Pride, and he won at odds of 15-1! Just to prove to everyone that I was an amazing handicapper, I chose Pink Dust at 45-1 for the next race and he went on to win too! Needless to say, I was hooked. I think if I could drive they would have bought me a new Cadillac.

Over the following years, I become a big fan of horse racing. At Hollywood Park I saw Seattle Slew get beat by Bill Shoemaker riding a small horse named Kennedy Road. At Santa Anita, I watched the greatest horse of our lifetime, John Henry, take on all challengers and win at the ripe old age of 9. That's like Magic Johnson playing basketball at 80!

Who can forget Cigar and Zenyatta! There are so many wonderful memories. These horses had courage and the hearts of a champion. It was a joy to watch them compete. I had the opportunity to meet Joe Masino of Class Racing Stable 12 years ago. He got me interested in becoming a horse owner, so I bought a 25% interest in a race horse. We bought the horse, Monterey Jazz, as a 2 year old from the breeder for $85,000.

Monterey Jazz was a big boy. He did not start out too well. He lost most of his races at 2 and 3 years old. Then something happened. He ran on grass and found a new home. Monterey Jazz won a claiming race going away at Hollywood Park, and thank god no one claimed him. In a claiming race, anyone can buy your horse. Next he ran in a stakes race at Santa Anita called the Sir Beaufort. He won a close race. Next was the race of his career: he ran in the Strub Stakes, named after the founder of the Santa Anita Racetrack. Monterey Jazz won by 8 lengths in 1:45:20, the fastest time in the Strub Stakes in the 1-1/8 mile race.

Jazz had a minor setback in his next race, the Million Dollar Santa Anita Handicap. He went off as the big favorite with a field of 12 horses. The track had been slowed with rain. Jazz, in his typical style, went out in front but went way too fast and the slow surface wore him down. He finished last.

We then put him on a plane and took him to Dallas Texas and Lone Star Park to run in the Texas Mile on the dirt. Jazz and jockey David Flores went out in front and never looked back. He won by 8 lengths without really breaking a sweat. Monterey Jazz would go on in his career to win the American Handicap with the blistering time on the 1-1/8 mile turf of 1:45:3, the fastest of that race. He would wind up running a track record and still holds that record for a mile on the turf at 1:32:2.

Just as sometimes happens in real estate partnerships, we sold Monterey Jazz this week. He will now be running in the southwestern U.S. with new management and ownership. He wound up winning almost $1 Million in purses for our group. I met many great people during my time with horse racing. Many people involved in the real estate business buy horses as a tax shelter for their passive income. You can deduct 50% of the cost of a race horse the first year (consult your tax advisor or check out Joe at www.classracingstable.com).

This year our brokerage business has started out with a bang. We have multiple deals going into escrow and we are getting multiple offers on properties. The action is hot and heavy. SBA loans today are 4-4.5% with 25 year amortization. Not a bad deal. That is very cheap money.

We are listing many apartments, foreclosure properties, Downtown Los Angeles development properties and warehouse facilities, either for sale or lease. I predict that 2012 is going to be a big year for Los Angeles commercial, industrial and multi-family real estate.

Deal Over a Meal

During the year-end holidays, all I can think about is food. So I was thinking about some of my favorite places around Los Angeles that I love to eat at. If you are involved in real estate, you know that many deals have been made over a meal. It seems that it is a tradition to do business over a breakfast, lunch, and sometimes even dinner. Sitting at a table and breaking bread seems to make a deal feel better.

Back in the early 1990's, my brother Jeff and I were selling the old Orbach's Department store (an RTC property) to our old client Mehdi Bolour. We had our offer accepted at $10.5M and delivered a signed agreement with a $500,000 non-refundable deposit. Our client invited us to lunch at the Pacific Dining Car to tell us that he as the buyer and payer of our commission was going to cut us from 4% to 3%. This was the first hundred thousand dollar lunch I ever had. The worst part was I paid for the lunch too! The Dining Car serves great steaks by the way, but I love their eggs benedict for breakfast… the BEST.

The rest of the story is also eye-opening: the RTC had the right to reopen the bids. So we were kicked out of escrow and had to rebid. We had leases ready to go with a health club for the basement, a supermarket for the ground floor and a clothing retailer for the second floor. This was a “home run” deal. Our client was willing to bid $14M and would still come out okay.

Well, greed got the better of him and he only bid $10.9M. Cedars Sinai Hospital bid $11M and the State of California and Petersen Automotive Museum bid $11.1M. I guess you can tell who had the inside info? Not us.

Needless to say, I have mixed emotions whenever I go to any event at the Peterson.

Breakfast can be hard to do well, and as I said, the best place for breakfast is the Dining Car in Downtown LA. It’s open 24 hours and the one in Santa Monica is good too. For really good pancakes you have Jacks N Joe and of course the Pantry. The Pantry has the absolute best coffee. When I was a kid my dad took me to Vickman's, where I also went when I first started working Downtown. That was the place to go to see all of the Produce District people and other manufacturers.

At Vickman's, I met many of my clients that I still have relationships with 26 years later. I met Harry Lumer of Joe's Parking there and became their broker for many years. At the time they were the largest owner of land in Downtown. I continue to do business with the Fleischman family, who had one of the biggest janitorial supply companies prior to the Home Depot age. The business is long gone and father Art has passed, but the son still manages their real estate holdings in the Arts District.

The art of meeting people might be lost on most of the population, but having a sit down meeting is still the best way to do business. Seeing someone's reaction to the discussion back and forth is more telling than an email. So I still like to meet over food.

The best Chinese food in Los Angeles is Yang Chow on Broadway in Chinatown. The Slippery Shrimp is to die for, but if you need to be authentic, then a short 15 minute drive to the famous 888 in Monterey Park is great too.

Being Jewish, deli's are a big part of the food thing. I like most of them, but here are a few of my favorites:

1. Canters: simply the best chopped liver, potato salad and an amazing barley bean soup.
2. Izzy's at 15th & Wilshire in Santa Monica has the best kishka.
3. Langer's on Alvarado St. has the best pastrami sandwich.
4. Jerry's: chicken soup = YUM!
5. Philippe the Original is not a deli per say, but it’s still fantastic for a French dip sandwich. Here’s a tip: the lamb is heaven in a double dip roll.

A little dive that is also amazing is El Colmao on Pico Blvd near Vermont Ave. Now if you’re not a city guy, it can be a little scary in the parking lot, but this Cuban restaurant is golden. If you like Versailles or just Cuban food in general, get here fast.

Another sleeper that has been a Los Angeles staple is Harold and Belle’s, which was recently in the paper because the ownership got a free loan from the city. They serve the most amazing Creole food. The Chicken Creole and the giant lobster tail is the best.

Other great Downtown places are the Palm, Roys, the Farm, Bottega Louie, and Freebirds World Burrito at Figueroa and Jefferson by USC.

If you like quality wine, another secret gem is the San Antonio Winery. Nestled in northeast Downtown, this oasis winery also has very good food (cafeteria style) and is perfect for a long lunch. The wine is top tier.

A great place to eat Mexican food is in East Los Angeles at El Tepeyac Café. The food is very tasty, not spicy, and they serve huge portions. This place is a deal closer.

If you want Italian, the best spaghetti in America is Andre’s at 3rd and Fairfax. It has been simply the best for decades.

For the more dressy fancy dinner meetings I like Morton’s, but then I might venture to Beverly Hills and do the old fashioned Spago. It is a wonderful dining experience and a place to be seen. My favorite restaurant for beef is Lawry’s the Prime Rib on La Cienega Blvd, home of the “Beef Bowl” competition between the two Rose Bowl teams.

I look forward with optimism and hunger to a fantastic 2012!