Soboroff steps down

The CEO of Playa Vista tells the LAT that he's looking for another big challenge. The planned community near Marina del Rey recently received approval by the City Council for a multibillion-dollar residential, office and retail development, the last phase of the massive community. "I am a baby," said the 62-year-old Soboroff who retains a 4 percent ownership stake.

Soboroff said he didn't know what his next challenge might be, but that it would be in the business world and not public office. In Los Angeles, the former mayoral candidate said, more private companies should strive to achieve objectives that benefit the common good. "I want to take something and brand it to be a leader because there are no leader companies left here," Soboroff said. "This community can embrace big public policy goals through a company emerging, and I am willing to make that another chapter in my life."