
Mayor Bass taps AECOM to assist with Palisades rebuilding
Nearly five months after a firestorm laid waste to a wide swath of Pacific Palisades, Mayor Karen Bass announced Friday that the global infrastructure firm AECOM will help develop a master plan for rebuilding the area, as well as a plan for reconstructing utilities and other infrastructure.
The firm will work alongside both the city and Hagerty Consulting, which Bass tapped as a recovery contractor in early February, according to the mayor's office.
Hagerty, an Illinois-based disaster recovery firm, has a yearlong contract with the city for up to $10 million but has faced persistent questions about the specifics of its work.
The mayor's office did not immediately answer when asked Friday whether Hagerty's role was being scaled back.
In late January, the mayor, along with four council members and other city officials, heard presentations from Hagerty, AECOM and a third firm also seeking to be the city's disaster recovery contractor.
After Bass selected Hagerty in February, she said the city was still in discussions with AECOM about a separate contract.
'An unprecedented natural disaster requires an unprecedented, all-hands-on-deck response — all levels of government, philanthropy, the private sector and educational institutions coming together to support the community and rebuild as quickly and safely as possible,' Bass said in a written statement Friday. 'AECOM's expertise in long-term infrastructure planning and design will only further expedite our work to get families home.'
The mayor's office also did not immediately respond when asked whether the city now has a contract with AECOM, or what the specifics of that contract, including the compensation, are.
Steve Soboroff, a longtime local developer and Bass' former chief recovery officer, publicly criticized Bass' decision to choose Hagerty over AECOM as the city's initial disaster recovery contractor. In an interview in mid-April as he was leaving his post, Soboroff raised questions about Hagerty's role and said he thought AECOM should have been hired instead.
Along with developing a comprehensive rebuilding master plan and supporting the Palisades' infrastructure reconstruction, AECOM will help coordinate broader public and private rebuilding efforts.
The company will work on a 'logistics plan for materials management in coordination with local builders and suppliers' as well as a master traffic plan as more homeowners leap into the rebuilding process, according to a news release.
AECOM is also the 'official venue infrastructure partner' for the 2028 Olympic Games, according to a March news release from LA28.

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Forbes
43 minutes ago
- Forbes
Prosthetics Startups' Biggest Market Isn't Humans. They're Building Hands For Robots Instead.
Aadeel Akhtar, the founder of Psyonic, has a PhD from the University of Illinois Urbana-Champain. Matt Carney was good at building robots — he just didn't want to. While earning his PhD at MIT, he'd spent years studying mechanical engineering and biomechatronics in service of developing bionic prosthetics that could help people who'd lost limbs. He hoped to build robotic legs that could pick up on the phantom signals sent by a body's muscles or function autonomously so it could move naturally, unlike the plastic, unmoving prostheses that are common now. But as he began talking to venture capitalists about funding a company that would develop these so-called bionics, he quickly discovered that the market didn't want robotic devices that could replace human limbs, it wanted robots that could replace human beings, the sort of humanoids championed by sci fi laureates like Isaac Asimov and self-appointed tech visionaries like Elon Musk. Investors cautioned him against venturing into the cost-heavy medical world and regularly asked if he might be more interested in building humanoids or exoskeleton suits. Even trusted experts building bionic limbs told him the technology currently available wasn't advanced enough to be truly helpful. Without a breakthrough in AI, let alone an addressable market, building futuristic robot body parts wasn't something investors would bankroll. So Carney looked elsewhere, taking a job as chief engineer at Persona AI, an early-stage contender in the field of humanoid robotics that has raised $27 million in funding. It's facing off against much larger startups like Boston Dynamics, Foundation Robotics and Figure AI, which have achieved valuations greater than $1 billion for their human-like bots. Then there's the elephant in the room: Musk's Tesla, which the world's richest man has pivoted toward building humanoid robots, with the idea that they'll generate trillions in revenue for the company and someday outnumber humans. Musk has touted a lofty vision of the future where he sees these robots as a catch-all method for labor, posting on X about replacing surgeons, being a 'personal C-3PO or R2-D2' to perform the bidding of an owner, and, of course, driving a car. Much of the tech world seems sold on them, too. The Information reported Wednesday that Amazon will begin testing out package delivery with humanoids. Speaking onstage at an event in late May for the Ronald Reagan Presidential Foundation and Institute, billionaire venture capitalist Marc Andreessen said that humanoid robotics provide a solution to regaining manufacturing dominance in the United States, with these robots performing tedious tasks such as installing screws on an assembly line. Carney plans to return to the prosthetics space one day. But he isn't the only entrepreneur who originally wanted to focus on building so-called bionic limbs to help real people, and instead have been pushed to follow the money: why not build for robots too? Take San Diego-based Psyonic, which officially launched in 2021 solely as a prosthetics company, building a waterproof robotic hand with built-in sensors to register touch sensations (alongside perks like the ability to charge a cell phone). Psyonic found some early traction, with Medicare covering the cost of its hands for patients. It was last valued at $65 million in 2024 and has raised a total of $8 million, according to PitchBook. Not long after launching, CEO and founder Aadeel Akhtar started to realize that there could be an entirely new market for his startup's hands, signing on Meta as an early robotics customer for an AI project. By 2023, humanoid robotics were booming, and demand skyrocketed. Now, the majority of Psyonic's business comes from selling its hands to manufacturing firms and robotics companies like Apptronik, which has raised more than $400 million to build humanoid, general purpose robots. The robotics side of his business 'is growing exponentially right now,' Akhtar told Forbes, later adding, 'The big draw there is being able to have one generalized robot do many tasks as opposed to activity specific robots.' Shifting toward catering to humanoid robotics startups comes with advantages. The hundreds of millions being poured into the space is helping commoditize the cost of the core technologies — the actuators, sensors, control methods and carrying capabilities needed to build both humanoid robots and bionic limbs. Akhtar said the shift has helped it further develop its prosthetics technology, and lower its prices. For San Antonio-based Alt-Bionics founder and CEO Ryan Saavedra, who was inspired to build inexpensive robotic hands after his hand was injured in a rock climbing accident, Apptronik is also a major customer. Now, the company sells more robotic hands than prosthetics to 'tier one humanoid companies.' It's a form of 'cross-pollination,' Saavedra said. And Leeds, England-based COVVI, which makes prosthetic hands with the ability to move individual fingers, recently launched a robotic hand tailormade for humanoid robots. 'Every humanoid robot needs robotic arms and legs,' said Connor Glass, the CEO and founder of Phantom Neuro, which is developing a non-invasive implant that enables a person to control a prosthetic device and works closely with prosthetics companies. 'Now [startups] are able to pivot in a way, and try to generate revenue by working with these humanoid robot companies.' It looks like a savvy business move. A Goldman Sachs report from 2024 projects that the total addressable market for humanoid robots will reach $38 billion by 2035. It projects that millions of general purpose human-shaped robots will be produced by then, with a 40% reduction in costs. (Right now, they're often prohibitively expensive; Apptronik is targeting a $50,000 price tag but hasn't reached this unit price, and Boston Dynamics' Atlas robot reportedly costs hundreds of thousands of dollars.) By contrast, there are only 5.6 million U.S. citizens with limb loss or limb difference, according to the Amputee Coalition. That makes this a very small market, and one that's accessed through the U.S. healthcare system. It can take years and millions of dollars to get a more advanced product through the FDA or navigate a complicated insurance system. Robots don't have such hurdles. Not all prosthetics startups are going after this new opportunity. Joel Gibbard, who cofounded Bristol, U.K.-based Open Bionics in 2014 and has raised $18 million to date, has decided to stay focused on making its 3D-printed bionic arms for humans, not robots. 'Everyone in this space is probably having those ideas, thinking about it as a growth opportunity,' Gibbard said. 'I don't know if we've made the right judgment, but I can tell you that we've made a conscious decision.' Bionics needs a watershed moment to get investors' attention, said Tyler Hayes, founder of Atom Limbs, which is building a complex AI-powered arm. 'A company is going to need to demonstrate a pretty significant breakthrough, as the public would see it, for bionic limbs to get that kind of traction,' he said. Building robot limbs for bots is far from a sure bet. Ken Goldberg, the cofounder of robotics firms Ambi Robotics and Jacobi Robotics and a University of California-Berkeley professor, told Forbes that while advances in humanoid robotics are possible in the (very) long term, the timeline and hype surrounding them are exaggerated. Videos promoting these humanoids' capabilities are often misleading, and there's always a wizard behind the curtain, he said. 'Robots are getting very good at locomotion, walking, and so there are all these robots out there that look like humans, walk like humans, and people think 'Well then, they are humans',' he said. 'Manipulation, the hands, is where the challenge is.' (That's why his company, Ambi Robotics, is building purpose-built AI-powered robots that can grip and sort packages, while his newer startup, Jacobi Robotics, is developing purpose-built robots for moving items on and off industrial pallets.) Simple tasks like folding a box or clothes, anything that requires dexterity, are challenging and harder than an activity like walking. It's no wonder humanoid startups are looking toward bionic prosthetics for help. 'We're nowhere near being able to automate those things,' Goldberg said. 'Hands on a robot is a surprisingly big leap.'

Business Insider
2 hours ago
- Business Insider
I landed a remote job for a European company, and now I'd find it hard to go back to a US-based company — I feel spoiled by the perks
This as-told-to essay is based on a transcribed conversation with 34-year-old Meghan Gezo, from Michigan. The following has been edited for length and clarity. In 2022, I left my job working remotely in people operations for a US company. Juggling my job and raising my one-year-old wasn't working. I wanted to take a break while I looked for another opportunity that would allow me to have better work-life boundaries. After a few months of job hunting, I started as a people experience manager at Storyblok, a fully remote content management company based in Austria. I'd never worked for a company based in Europe before. Living in the US, most jobs that pop up are US-based. People have come to expect more work-life balance in Europe, as the employment laws differ from the US. For me, there have been perks related to my life as a parent, my working hours, and my professional growth. I was immediately drawn to the benefits of working for a European company I've been working in remote jobs for tech companies since 2016. I'd previously worked in an office, but thought a remote job meant I could focus on higher-impact work than the office administration that usually fell to HR, as well as branch out beyond the manufacturing and automotive industry jobs in my area. It was easier to find a remote job in 2022 than in 2016. I found the listing for Storyblok on a job board. The people I spoke with were genuine and direct. In the first interview, they talked about time off norms and said the standard workweek is 38.5 hours. They seemed to emphasize work-life balance and gave me concrete examples of how it worked at the company. I was optimistic I could be successful in the role while staying involved in my daughter's life. In the US, the norm on paper is a 40-hour workweek, but in practice, people often work until they finish their tasks, especially in tech. I used to work, feed my daughter, put her to bed, and then work some more. It felt normal. At my current company, you focus on work when you're at work and then log off until the next day. There have definitely been times when I've had to work extra hours, but overall, I'd say that my work-life balance is better. In the US, it can often feel that your work is your identity. My European colleagues take pride in their work and are extremely hard workers, but their job is one facet of their identity. Working for a European company has pushed me in new ways I've gained experience working with people from other cultures. Learning about Austrian law has also pushed me to expand my HR knowledge beyond US employment law. One thing I've noticed about the company culture is that when people are on vacation, they're on vacation. Meanwhile, it's more the norm in the US to answer messages on vacation. I've not completely broken this habit, but it has felt more attainable for me to delete work communication apps from my phone when I'm away. I've felt very supported in my role as a parent at my European company The Austrian norm of " care leave," which isn't a norm in the US, is a great part of working for a European company. Because I have kids under a certain age, I get to use two paid weeks off a year for days when my kids are sick and I need to take them to a doctor or take care of them. Having this bucket to pull from is a huge weight off my shoulders as a parent. My previous employers had generous parental leave policies. However, at Storyblok, I got slightly more time — 16 weeks. I went on maternity leave at a previous company with my firstborn and again at my current job in 2023. During my most recent maternity leave, people in the company treated it very seriously. I got a lot of support from my manager and team to help plan for my leave and assign my tasks to others. During my first maternity leave for a previous company, I didn't mind answering a few questions as needed to support my team, but at Storyblok, no one asked me work-related questions while I was away. There are some downsides While my working hours suit my season of life, there are days when I wish I could start later at 9 a.m. However, I don't think I'd be as effective without overlap with my European colleagues. Right now, I work 6:30 a.m. to 2:30 p.m. ET. Sometimes, if I have a question I want to ask colleagues in Europe during my afternoons, I'll know that I won't be getting an answer until the next day because of the time zone difference. I've learned to work these expectations into my regular workflow. It does make me sad that I don't live near my colleagues. I've built strong relationships with these people, but they're an ocean away. I'd find it hard to go back to a US-based company Working for a European company didn't occur to me as an option before I interviewed for this job. Having worked here for over two years, I feel spoiled by the benefits and perks of European working culture, and it would be hard for me to go back to working for a US-based company.
Yahoo
2 hours ago
- Yahoo
1 Ultra-Safe Dividend King Stock to Double Up On in June
Illinois Tool Works benefits from diversification and pricing power. The company is effectively managing tariffs and macro challenges. Illinois Tool Works has an impeccable track record of supporting dividend growth. 10 stocks we like better than Illinois Tool Works › Illinois Tool Works (NYSE: ITW) -- often referred to simply as ITW -- is an industrial conglomerate and Dividend King that has boosted its payout for 61 consecutive years. However, ITW's stock price and earnings have stagnated as the company faces a challenging operating environment. Despite these conditions, ITW continues to chart a path toward long-term growth and set clear shareholder expectations. Here's why ITW stands out as a top Dividend King to buy in June. A good management team will set clear standards that investors can use to determine if the company is executing on its goals. A blend of short-term, medium-term, and long-term targets can help build an investment thesis and determine if those targets are good enough to buy and hold a stock. ITW is an excellent example of a company that set ambitious goals, achieved them, and rewarded its shareholders over an extended time period. From 2012 to 2023, ITW deployed its Enterprise Strategy, which boosted its operating margin by over 9 percentage points, more than tripled its earnings per share (EPS) and market cap, and increased its dividend by 3.7 times. From 2024 to 2030, ITW is focusing on organic growth, led by its Customer-Back Innovation process. The process involves acting on customer ideas and responding to customer needs rather than coming up with ideas and hoping they stick. The idea is to leverage ITW's existing brands and take those brands to the next level through product development and global sales rather than overly relying on mergers and acquisitions. The strategy aligns with ITW's structure. Although ITW is a conglomerate with dozens of brands and seven key segments -- automotive original equipment manufacturing, construction products, food equipment, polymers and fluids, specialty products, test and measurement and electronics, and welding -- it gives a lot of flexibility to each segment. This autonomy allows each segment to adapt to changing demand trends, pricing, and economic conditions. By 2030, ITW expects its operating margin to reach 30% and achieve average annual EPS growth of 9% to 10%, which will support a 7% annual increase in its dividend. It also plans to convert 100% of net income into free cash flow, which will support a growing dividend, buybacks, and organic investments. It's a bold strategy, but ITW's results showed that it was possible as the company steadily grew its operating margin. But the recent quarter saw a decline in operating margins and sales. In the first quarter of 2025, revenue fell 3.4%, organic growth was down 1.6%, and operating margin was just 24.8% compared to 25.4% in the first quarter of 2024 (after accounting for a one-time inventory accounting change). Generally accepted accounting principles (GAAP) EPS in the quarter was down a mere 2.5% after factoring in the accounting change. Overall, the quarter wasn't bad given customer uncertainty amid tariff pressures. And better yet, ITW maintained its full-year 2025 guidance for $10.15 to $10.55 in GAAP EPS and organic growth of 1% to 3%. ITW has hit a speed bump on the road toward its 2030 goals, but that doesn't mean the stock isn't a good buy now. One of the most compelling reasons to own ITW is the company's steady dividend growth and dividend affordability. As you can see in the chart, ITW has steadily grown its EPS and FCF per share -- which has supported a growing dividend and considerable buybacks that have drastically reduced ITW's share count -- thereby accelerating EPS growth. In addition to being a reliable dividend stock, ITW is also a good value. Based on the midpoint of ITW's 2025 guidance -- $10.35 in EPS -- and the stock price at the time of this writing of around $245 per share, the company would have a price-to-earnings ratio of 23.7, which isn't dirt cheap, but it is reasonable for a high-quality business that is extremely well run. ITW checks all the boxes of a safe stock to double up on in June. There was more tariff uncertainty when ITW reported its first-quarter earnings in late April. And yet, the company's earnings didn't take too much of a hit, and it reaffirmed full-year guidance -- showcasing ITW's confidence in its ability to navigate tariffs. ITW generates plenty of earnings and cash flow to cover its dividend payment and still has plenty of dry powder left over to buy back stock. ITW's valuation is reasonable, and its 2.5% yield is solid. ITW is the kind of business investors can build a passive income portfolio around, making it a good buy now. Before you buy stock in Illinois Tool Works, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Illinois Tool Works wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $674,395!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $858,011!* Now, it's worth noting Stock Advisor's total average return is 997% — a market-crushing outperformance compared to 172% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of June 2, 2025 Daniel Foelber has no position in any of the stocks mentioned. The Motley Fool recommends Illinois Tool Works. The Motley Fool has a disclosure policy. 1 Ultra-Safe Dividend King Stock to Double Up On in June was originally published by The Motley Fool Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data