Mayor Bass taps AECOM to assist with Palisades rebuilding
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.
Read more: As L.A. rebuilds from the Palisades fire, residents ask: What's the plan?
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.
Sign up for Essential California for news, features and recommendations from the L.A. Times and beyond in your inbox six days a week.
This story originally appeared in Los Angeles Times.
Hashtags

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

Yahoo
a few seconds ago
- Yahoo
MIAX-parent Miami International set for NYSE debut after $345 million IPO
(Reuters) -Miami International Holdings, the parent of exchange operator MIAX, will begin trading on the NYSE later on Thursday, ending a 15-year drought in flotations by U.S. financial exchanges. The Princeton, New Jersey-based company sold 15 million shares above the marketed range of $19 to $21 apiece to raise $345 million on Wednesday, one of the biggest listings of a U.S. bourse operator. Only a handful of U.S. exchange operators have gone public since the 2000s and Miami International's listing had been a long time coming as the company confidentially filed for an IPO in 2022. CME Group was the first U.S. exchange to go public in 2002, while Cboe Global Markets listed in 2010. Exchanges have also thrived this year as heightened market volatility fueled record trading volumes and boosted profits. MIAX entered the fray in 2007 after a wave of consolidation amongst equity and options exchanges. It is led by Thomas Gallagher, one of its principal founders. "I'm not worried about fragmentation. I'm not worried about the aspects of having a very diverse set of exchanges," Gallagher told Reuters in an interview. "I just think it's a matter of those that have the right technology, those that have the right infrastructure, the right relationships with their market participants." OPTIONS FOCUS While MIAX operates nine exchanges across asset classes such as equities and futures, the majority of its revenue comes from options trading. The company launched its first options exchange in 2012 and has gained market share from rivals over the past decade. In the first half of 2025, it had a 16% market share in the U.S. options industry, behind only the NYSE, Nasdaq, and Cboe, according to the Options Clearing Corporation. MIAX launched its fourth U.S. equity options exchange last year. While it currently does not have any products involving crypto futures, the company is open to expanding its offerings if the opportunity comes. "If a crypto partner comes to me and says, we'd like to do a joint venture to bring a crypto offering, either to your futures exchange or some type of an option on some crypto index, we're open for business," Gallagher said. Besides buyout firm Warburg Pincus, Miami International is backed by trading firms Susquehanna and Wolverine. 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
Yahoo
a few seconds ago
- Yahoo
AI firm Cohere raises US$500 million, giving business US$6.8 billion valuation
TORONTO — Cohere says it's raised US$500 million, giving the Canadian artificial intelligence firm a US$6.8 billion valuation. The funding round was led by Radical Ventures and Inovia Capital, with additional cash from AMD Ventures, Nvidia, PSP Investments, Salesforce Ventures and the Healthcare of Ontario Pension Plan. Cohere says the money will accelerate the Toronto-based company's efforts to build agentic AI products. It says its AI aims to free people from tedious tasks, giving them more time for more interesting and challenging work. In addition to the funding, Cohere announced Joelle Pineau, who was previously Meta's vice-president of AI research, will become the company's chief AI officer. Francois Chadwick, who has worked at Uber and KPMG, will become Cohere's chief financial officer. This report by The Canadian Press was first published Aug. 14, 2025. Tara Deschamps, The Canadian Press 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
Yahoo
a few seconds ago
- Yahoo
Nvidia's Next Challenger? Intel-Backed Rivos Eyes $500 Million to Take On AI Inference Market
Nvidia (NASDAQ:NVDA) might have a new headache on the horizon. AI chip startup Rivos, backed by Intel (NASDAQ:INTC) CEO Lip-Bu Tan is chasing up to $500 million in fresh funding, according to The Information. If the round lands, it would bring Rivos' total haul since launching in 2021 to nearly $900 million and value the company at over $2 billion. Warning! GuruFocus has detected 5 Warning Signs with NVDA. The Santa Clara-based upstart hasn't shipped a mass-market chip yet, but it's aiming for 2026 to make its commercial debut. The goal? To muscle in on Nvidia's turf by building GPUs designed for AI inference, the kind of work that runs already trained modelsand is expected to account for as much as 60% to 70% of AI workloads by 2030. Rivos has already sent a prototype off to TSMC for trial production. Its pitch centers on high-performance, power-efficient, secure server solutions built on RISC-V architecture. For Nvidia, which dominates the inference market, it's another reminder that competition in the AI chip space is heating up fast. This article first appeared on GuruFocus.