UNDERSTANDING THE RIOTS--SIX MONTHS LATER : Money and Power/Making It in the Inner City : The Corporate Giants: How Are They Helping?
In the months since the spring riots, some of the area’s biggest companies have poured millions into the inner city; others have done nothing. This chart examines the response of the 15 largest publicly held companies headquartered in Los Angeles County, as ranked by revenue. COMPANY: Atlantic Richfield PRIMARY INDUSTRY: Petroleum VALUE: $6 million-$10 million Allocated immediate emergency aid for food, shelter and financial assistance to United Way of Los Angeles and other agencies and religious groups. Teamed up with Los Angeles Clippers to refurbish 66 basketball courts at 21 playgrounds and establish basketball clinics and a tournament. Committed to using minority contractors in reconstruction efforts at 52 destroyed or damaged gas stations.
COMPANY: Occidental Petroleum PRIMARY INDUSTRY: Petroleum VALUE: 0 Rebuild L.A. says it is in discussions with Oxy. But the company says it has no plans for inner-city investment.
COMPANY: Unocal PRIMARY INDUSTRY: Petroleum VALUE: Declined to estimate Damaged service stations were repaired within days, except for one already scheduled for closure.
COMPANY: Lockheed PRIMARY INDUSTRY: Aerospace VALUE: 0 Developing a two-pronged program of community investment and education; declined to provide details.
COMPANY: Security Pacific/Bank of America* PRIMARY INDUSTRY: Banking VALUE: $25 million Implemented a Small Business Investment Program, making loans of up to $100,000 available at low rates for locally owned small businesses. Provided a toll-free telephone number in three languages to assist applicants. Committed $100,000 in emergency grants to community organizations providing food, shelter and other services.
COMPANY: Southern California Edison PRIMARY INDUSTRY: Utility VALUE: $35 million Includes $6.5 million to develop job training centers in Compton and Long Beach using vacant Edison facilities; about $11 million to forgive current bills for residences and small businesses lost in the rioting; $7.5 million in expertise, equipment, staff support and donations to community groups. Other funds will be set aside for 100% matching of employee contributions.
COMPANY: Walt Disney PRIMARY INDUSTRY: Entertainment VALUE: More than $1 million Matching employee contributions to First AME Church-administered fund for loans to small-business owners unable to obtain conventional bank financing. Provided summer jobs at Disneyland for more than 200 inner-city youths, including transportation. Targeting minority-owned firms for 15% of the contracts for a $3-billion Disneyland expansion. Donated furniture, used vehicles and trailers to various organizations. Opened a Disney Store in Baldwin Hills Crenshaw Plaza, employing 25 inner-city residents.
COMPANY: Pacific Enterprises PRIMARY INDUSTRY: Utility, retailing VALUE: $7.1 million Best known as the parent of Southern California Gas Co., which has set aside $6.7 million to make rebates to companies in riot-torn areas that replace appliances with more energy-efficient equipment. The utility hired 20 inner-city youths part time to assess such needs. Southern California Gas also contributed $110,000 to the American Red Cross and local grass-roots organizations and has earmarked an additional $200,000 for future spending.
COMPANY: Northrop PRIMARY INDUSTRY: Aerospace VALUE: Declined to estimate Expanded its long-running High School Involvement Program, hiring 60 high school graduates for full-time summer jobs. Firm is putting together a program that will enlist retirees to donate time to educational programs.
COMPANY: Litton Industries PRIMARY INDUSTRY: Aerospace VALUE: $150,000 Committed $135,000 over three years to mathematics, engineering and science achievement program, a pipeline of community and academic support to minority youths. Additional contributions to other educational and social service programs.
COMPANY: Vons Companies Inc. PRIMARY INDUSTRY: Retailing VALUE: $100 million Will build 10 to 12 stores, creating up to 2,000 jobs in inner-city Los Angeles and surrounding communities. Pledged to use minority contractors for remodeling and construction projects.
COMPANY: First Interstate Bancorp PRIMARY INDUSTRY: Banking VALUE: $200,000 Provided interim, low-interest “gap” financing up to $200,000 to small-business owners while they awaited federal disaster relief loans. An additional $200,000 in grants has been given to eight local nonprofit groups.
COMPANY: H.F. Ahmanson and Co. PRIMARY INDUSTRY: Banking VALUE: $2.1 million Donated a modular building to temporarily replace a fire-damaged branch of Broadway Federal Savings and Loan. Using minority workers to rebuild Home Savings of America branch at Vermont and Slauson avenues. Developing a program to train South Los Angeles residents as branch managers and loan appraisers. Home Savings has committed $100 million for home loans in South-Central Los Angeles next year. Expanded program that helps prepare students for college to five additional Los Angeles high schools. Other donations of furniture, clothing and cash.
COMPANY: National Medical Enterprises PRIMARY INDUSTRY: Health care VALUE: 0 No plans.
COMPANY: Great Western Financial PRIMARY INDUSTRY: Banking VALUE: 0 Rebuild L.A. says it is in discussions with Great Western. But the company did not want to reveal details of its plans for inner-city investment.
* Security Pacific merged with Bank of America in April. The combined company is headquartered in San Francisco.
Compiled by Times researcher Cecilia Rasmussen. Sources: MZ Group for ranking; companies for data on corporate response