PALMDALE – Four candidates attempted Wednesday to show area business leaders why they should be elected to represent the Antelope and Victor valleys in the state Assembly. The four candidates were Palmdale Mayor Jim Ledford, Palmdale Mayor Pro Tem Steven Knight, Antelope Valley College board member Steve Fox and Westside Union School District board member Linda K. Jones. Absent from the lunchtime candidates’ forum, sponsored by the Palmdale Chamber of Commerce at the Larry Chimbole Cultural Center, 38350 Sierra Highway, was church pastor Maggie Campbell. For the full story visit http://www.avpress.com/n/22/0522_s5.hts

The “Big One,” as earthquake scientists imagine it in a detailed, first-of-its-kind script, unzips California’s mighty San Andreas Fault north of the Mexican border. In less than two minutes, Los Angeles and its sprawling suburbs are shaking like a bowl of jelly. The jolt from the magnitude-7.8 temblor lasts for three minutes – 15 times longer than the disastrous 1994 Northridge Earthquake. Water and sewer pipes crack. Power fails. Parts of major highways break. Some high-rise, steel-frame buildings and older concrete and brick structures collapse. For the full story visit http://www.dailynews.com/breakingnews/ci_9340414

Semiconductor manufacturer Semtech Corp. reported a 2.5 percent increase in its net income for the first quarter of fiscal year 2009 when compared to the previous year. The Camarillo company earned net income of $8.1 million, or $0.13 per diluted share, on revenues of 74.4 million for the quarter ending April 27. In the same period in 2007, the company had net income of $7.9 million, or $0.11 per diluted share, on revenues of $60.6 million. New orders exceeded shipments with demand strongest within the industrial, communication and handset end markets. Shares of Semtech closed down at $17.43.

Cherokee Inc. signed an exclusive brand representation agreement with award-winning fashion designer David Rodriguez. Rodriguez, a Fashion Institute of Design and Merchandising Institute graduate, has won a number of major fashion awards and his clothes, according to his FIDM biography, have graced stars like Kirsten Dunst who wore a Rodriguez-designed dress to the SAG awards, and singer Toni Braxton, who was seen in one of his designs on the cover of InStyle magazine. “We chose to collaborate with Cherokee based on the successful partnerships they’ve engineered with leading designers and premier retailers in the United States, including TJX Co., Target and Wal-Mart,” said Brandon Houchins, President, J.C. SOHO, LLC, in a prepared statement. Van Nuys based Cherokee Inc. is a marketer, licensor and manager of a variety of apparel, home furnishings, fashion accessories and footwear and recreational brands.

QPC Lasers Inc. raised $2 million in new financing for an expansion of its manufacturing facilities in Sylmar. The company needs more space to meet increased production requirements as it competes in the high volume markets such as consumer electronics. The company’s lasers are also used in military and health care applications. QPC needs additional manufacturing capacity to meet and grow customer orders, said co-founder and CFO George Lintz. “The ability to deliver in volume and on-time is an important underlying requirement to maintaining and growing long fruitful relationships with new and current customers alike,” Lintz said.

The Los Angeles City Council on Monday approved Mayor Antonio Villaraigosa’s $7-billion budget, even as budget experts warned that the city would face a nearly $300-million shortfall next fiscal year. In their effort to reach the goal of hiring 1,000 police officers, council members unanimously hiked fees by at least $98 million, forcing the public to pay more for trash removal, parking and other city services. The council backed the mayor’s plan to reduce animal shelter hours and scale back park maintenance, along with other cuts. For the full story visit http://www.latimes.com/news/local/la-me-labudget20-2008may20,0,1987908.story

Traveler satisfaction with airports is generally down, and LAX is no different, scoring in the middle of the range in a J.D. Power survey that found airport satisfaction down 14 percent compared to 2007. The study, now in its eighth year, ranks big airports with 30 million or more passengers per year, medium airports with 10-30 million passengers per year and airports with fewer than 10 million passengers per year. It looks at six factors: airport accessibility; baggage claim; check-in/baggage check process; terminal facilities; security check; and food and retail services. Among medium-sized airports, San Diego International scored 678, slightly ahead of the segment average of 673. For the full story visit http://www.dailynews.com/ci_9321716

In a surprise development, AFTRA has joined the Screen Actors Guild in declaring that actors must still be asked for their consent for clips of their work to be used online. With both performers unions putting their feet down on the clips issue, Monday’s announcement probably means the town’s ongoing uncertainty over labor will linger for the foreseeable future. “A resolution may not be quick or easy,” warned AFTRA president Roberta Reardon in a message to members. For the full story visit http://www.variety.com/article/VR1117986073.html?categoryid=1009 & cs;=1

WASHINGTON — Inflation at the wholesale level slowed in April following a huge increase in March, although prices for a number of items from prescription drugs to pasta shot upward. The Labor Department reported today that wholesale inflation increased by 0.2% in April following a 1.1% jump in March. Outside of food and energy, prices rose by 0.4% in April. The overall moderation in prices primarily reflected how the government adjusts its data to compensate for seasonal changes. Those adjustments showed gasoline prices falling last month even though motorists were seeing prices soar. For the full story visit http://www.latimes.com/business/la-fi-ppi21-2008may21,0,2732732.story

The chief executives of two Valley business banks have been announced as finalists for the 2008 Ernst & Young Entrepreneur of the Year award. James D. Hicken, president and CEO of the Bank of Santa Clarita, and David Rainer, president and CEO of Encino-based California United Bank were the sole Valley representatives from the 21 finalist executives in the greater Los Angeles region. The winners will be announced at festivities to be held June 24. They will then be in the running for the national awards program which culminates on Nov. 15. The Valley was well represented last year when Isaac Larian, president of Canoga Park-based MGA Entertainment won the 2007 national E & Y; Entrepreneur of the Year award.