News
Los Angeles selects headhunter firm to spearhead search for new police chief
Los Angeles has embarked on the search for a new police chief, and the city has enlisted the help of a top headhunter firm to assist in the selection process. Bob Murray & Associates, a Northern California-based firm, has been tasked with the responsibility of identifying the top candidates to lead the Los Angeles Police Department (LAPD).
The decision to hire Bob Murray & Associates was officially announced at a meeting of the Board of Police Commissioners, following the finalization of the deal on March 1. The firm will be paid $65,000 to compile a list of 10 to 20 potential candidates for the chief position.
The search process will involve a variety of methods to identify the best fit for the role, including conducting a community survey to gather input on what qualities residents want in a police chief. Social media ads will also be utilized to attract potential applicants, and thorough background checks will be conducted on the finalists.
The ultimate goal of the search is to find a replacement for retiring Police Chief Michel Moore, who unexpectedly announced his retirement earlier this year. In the interim, Assistant Chief Dominic Choi has been appointed to oversee the department.
Dana Brown, general manager of the city’s personnel department, highlighted the extensive experience of Bob Murray & Associates in conducting law enforcement executive searches. She emphasized the firm’s involvement in the selection of former LAPD Chief William J. Bratton, who led the department following a federal consent decree.
The process will be conducted with transparency and inclusivity, as outlined in the city’s charter, to ensure that all potential candidates are thoroughly vetted. The firm will utilize a diverse range of tactics to attract a broad pool of candidates, including advertising on various law enforcement websites and reaching out to organizations representing minority officers.
Despite the aggressive timeline for the search process, officials remain confident that they will be able to identify the best candidates for consideration. The final decision on the new police chief will ultimately lie with Mayor Karen Bass, who will need to confirm the nominee selected by the Police Commission.
As the search for the next LAPD chief continues, speculation abounds regarding potential frontrunners for the position. Internal candidates such as Assistant Chief Blake Chow and Deputy Chief Emada Tingirides are being considered, as well as external candidates like Art Acevedo, who has prior experience leading police departments in other cities.
The search for a new police chief is a crucial decision for the city of Los Angeles, and officials are committed to ensuring that the process is thorough and transparent. By enlisting the expertise of a reputable headhunter firm, the city aims to find a leader who will uphold the values of the LAPD and serve the community with integrity and dedication.
News
Is now the right time to invest in gold as prices have cooled?
The price of gold has climbed to record highs recently and has remained strong through much of April. And, that growth continued until the precious metal traded at around $2,390 per ounce on April 19, 2024. But since, growth in the price of the precious metal has cooled, with gold’s price now hovering around $2,300 per ounce.
This lull in gold’s price may represent an investment opportunity.
In general, investing is centered around buying assets when prices are low and selling them when prices are high – generating a profit on the difference between the two. So, considering the declines in gold’s price over the past few days, now may be the time to make your investment. But is buying gold during this lull in prices really a good idea?
Compare your gold investment options among leading brokers now.
Gold prices have cooled. Should you buy in now?
With gold’s price down from recent highs, you may be wondering if now is the right time to buy in. There are several reasons the dip in gold’s price may represent an opportunity to buy. Here are some of the biggest:
Prices may rise again
If looking at a gold price chart shows anything for certain, it shows that changes in the overall growth of the medal come in fits and spurts. Periods of price growth are typically followed by periods of declines and vice versa.
But with inflation rising in recent months – and with gold’s reputation as a safe-haven asset that can hedge against inflation – it only makes sense that the price of the precious metal will eventually start to head up again in the future. While attempting to time that directional change may be tricky, buying the precious metal while the price is down gives you the opportunity to take advantage of any upward movement that may be ahead.
Add gold to your portfolio now before prices have a chance to rise.
You may be able to make a quick profit
Gold isn’t known as an asset in which you can earn a quick return, but in today’s market, that may be the case. Don’t forget that in January, gold was trading at just $2,000 per ounce. And, by mid-April, the commodity’s price had climbed to around $2,400 per ounce. That’s about 20% growth in a matter of months, much of which happened since March 1 – an impressive climb for any investment asset.
Perhaps more importantly, gold’s price growth through the beginning of 2024 shows that the commodity doesn’t have to be a buy and hold style investment that you keep in a safety deposit box or precious metal depository for years to come. There’s also the possibility that the commodity’s price could climb further ahead, making it a compelling way to potentially generate a quick profit.
There are other benefits of investing in gold
There are other benefits of investing in gold that have little to do with the price growth seen thus far in 2024 – or the lull in prices seen over the past couple of days. Those benefits include:
- Inflation protection: Gold has long been considered an inflation hedge, and for good reason. When inflation drives the prices of consumer goods and services up – and the value of the dollar down – gold’s price tends to rise. So, it could be used to maintain the value of your portfolio during inflationary economic conditions. That’s important in today’s economic environment as stubborn inflation continues to weigh on the value of the dollar.
- Portfolio diversification: Gold’s price doesn’t always move in the same pattern that bonds or stocks do. So, mixing a reasonable amount of gold into your portfolio (up to 10% of your portfolio assets) as a diversifier could protect you from losses should one or more of your traditional portfolio assets fall in value. “If you have less than 5% – 10% of your net worth in commodities & FX (forex), you should absolutely consider adding exposure to gold and other precious metals,” says Vijay Marolia, money manager and managing partner at the wealth management firm, Regal Point Capital.
The bottom line
Gold’s price has fallen from recent highs – which may represent an opportunity to tap into growth ahead. However, gold isn’t simply a “buy while it’s low and sell while it’s a high” kind of investment opportunity. The commodity can also protect your portfolio from the stubborn inflation we’ve seen thus far in 2024 while acting as a diversification tool that could increase your risk-adjusted portfolio returns. So, consider adding gold to your portfolio today while it has the potential to grow in value.
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Is now the right time to invest in gold as prices have cooled?