Customs brokers/freight forwarders.EXECUTIVE SUMMARY The 15 largest customs brokers/freight forwarders in L.A. County reported a combined total L.A.-area workforce of 2,073 employees, 52 percent more than last year. "International trade has become a premier growth industry for us," said Jack Kyser, chief economist The Chief Economist is a single position job class having primary responsibility for the development, coordination, and production of economic and financial analysis. It is distinguished from the other economist positions by the broader scope of responsibility encompassing the with the Economic Development Corp. of L.A. County. Freight forwarders An individual who, as a regular business, assembles and combines small shipments into one lot and takes the responsibility for the transportation of such property from the place of receipt to the place of destination. are changed with organizing all aspects of shipping goods on behalf of their clients. That includes consolidating shipments, determining the best routes, contracting with freight carriers and preparing all shipping documents. Customs brokers Customs Broker An individual or firm licensed by customs authorities to enter and clear imported goods through customs. The broker represents the importer in dealings with the customs authorities. , meanwhile, specialize in preparing the documentation to clear incoming shipments through customs, and in arranging the delivery of goods to their clients once the goods have cleared customs. [TABULAR DATA OMITTED] THE PACESETTER FRITZ COS. INC inc - /ink/ increment, i.e. increase by one. Especially used by assembly programmers, as many assembly languages have an "inc" mnemonic. Antonym: dec. . San Francisco-based Fritz Cos. Inc. is one of the nation's biggest freight forwarders, with more than 480 locations in some 115 countries. The company arranges the shipping, customs requirements and warehousing of products transported around the world. Fritz has been rebuilding its business for the past two years, after an acquisition spree led to disruptions in service and declining profits. The publicly traded company's earnings performance remains uneven. Though it had a strong second quarter, it reported a net loss of $3 million (8 cents a share) for its third quarter ended Feb. 28, compared with net income of $2.6 million (7 cents) for the year-earlier quarter. Company officials attributed the loss to weakness in the U.S. and European export markets; higher labor, administrative and medical expenses; and costs incurred to make computer systems Y2K compliant Capable of correctly processing any data that deals with a date beyond the year 1999. See Y2K problem. . Fritz is 37 percent owned by Chief Executive Lynn Fritz, whose father founded the company in 1933. Its stock has long languished between $9 and $10 a share, largely because of fears that the Asian crisis would negatively impact the business. Fritz officials say weakness in Asia hasn't affected operations in Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. . "Most of our customers are steady accounts, and the impact in Southern California Southern California, also colloquially known as SoCal, is the southern portion of the U.S. state of California. Centered on the cities of Los Angeles and San Diego, Southern California is home to nearly 24 million people and is the nation's second most populated region, has been very modest," said Betty Burghard, senior director of import product with Fritz's Inglewood office. |
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