business (283)

The Securities and Exchange Commission filed a lawsuit Monday against an El Segundo investment firm, accusing its owner of operating a $23-million Ponzi scheme that targeted Latino investors from seven states. Clelia A. Flores and her company, Maximum Return Investments Inc., attracted about 150 investors from 2006 to 2008 by offering returns of 25% a month, the lawsuit alleged. Instead of profiting in real estate, banking, and oil, silver and gold exploration as she promised, Flores used money from new investors to make "interest" payments to old investors, the lawsuit said. The lawsuit accused Flores of diverting $3.5 million for personal use, including a $443,000 down payment on a $1.9-million home in El Segundo. She also used investor money to pay for a lavish party at the Ritz-Carlton hotel in Marina del Rey, the SEC alleged. The catered party included a rented boat and free hotel rooms for guests and was intended to celebrate the company's "alleged success," according to the SEC. READ FULL STORY
Read more…

Dream deferred for many Latinos

Open almost any urban newspaper to the foreclosure notices and you’ll find the list heavy with Hispanic names. Times are tough for Americans of every demographic, but for Latinos they are grimmer still. Is this the end of the Latino-American Dream? The answer, in Spanish and English, is “no.” President Obama has unveiled a $75 billion plan that includes helping homeowners who are behind in their monthly payments but could keep up if their mortgage terms were eased a bit. Many Latinos would fit this category. READ FULL STORY
Read more…

More Bad News From the Job Market

You’ve been out of work for a year now and you are wondering what’s ahead. Or you are one of many couples who lost a paycheck and you are trying to get by on one only. Or you are middle-aged and had a good-paying factory job. But there are very few factory jobs today in your Rust Belt city. Or you are black or Latino and a lot of your friends can’t find a job either. Where are we headed at the start of 2010? As a number of recent reports point out, the Great Recession still hangs heavily over our heads, with losses more severe and painful than most imagine and some workers facing the likelihood of even greater job setbacks ahead. For many blacks and Latinos, the job losses will continue to mount, according to a report by the Economic Policy Institute. While the unemployment rate for whites is expected to hit 9 percent in the third quarter of this year - up from 8.1 percent in the most recent period - it is likely to reach 17.2 percent for blacks and 13.9 percent for Latinos for the same time period. READ FULL STORY
Read more…

Geraldo on Hispanics’ new era of prosperity

In his new book “The Great Progression: How Hispanics Will Lead America to a New Era of Prosperity,” award-winning journalist Geraldo Rivera details the evolving role of Hispanics in shaping every facet of American culture. Read an excerpt on how the Hispanic community has socially, economically and politically impacted our future. Introduction For the first time in modern world history a powerful nation is changing complexion right before the eyes of its citizens. In real time it is possible to watch America become more culturally diverse, its face physically darker. The United States has vastly more Latinos than it did just a relatively few years ago, and their numbers are increasing at an explosive rate, on average almost four thousand per day. This book is about what that dramatic trend means for the country. READ FULL STORY
Read more…

Maria Elena's Authentic Latino Inc. (www.MariaElenas.com) was named 2009 Company of the Year by the Latin Business Association, among companies with $1 Million revenue or less. The coveted award, presented at the LBA 2009 Sol Business Awards Gala, puts Maria Elena's among a distinguished group of Hispanic entrepreneurs cited for promoting the success of Latino businesses, and especially for supporting the advancement of Hispanic youth. "We are humbled and very grateful for this honor," said Maria Elena's founder Jerry Gonzalez. "As a further expression of our commitment to help young Latinos, we are our increasing efforts to give back by pledging 1% of our sales in 2009 to the LBA Scholarship Fund." READ FULL STORY
Read more…

AN INTERVIEW WITH CHARLES RAMOS, PRESIDENT, BALTIMORE HISPANIC CHAMBER OF COMMERCE Charles Ramos is the current President of the Baltimore Hispanic Chamber of Commerce. He is also the President and CEO of CR Dynamics, a customer relationship management services company based in Baltimore, MD. Charles believes that Hispanic businesses in Baltimore not only can weather today’s economic woes, but are poised to thrive in the years to come. In the following interview, he talks about his role as the President of the Baltimore Hispanic Chamber of Comerce, discusses the current situation for Hispanic businesses in the area and offers his predictions for the future. Q: Tell me about the Chamber. CR: The Chamber is about 7 years old. It all started with some local businessmen who just needed a place and a forum to talk, to work on events and activities that would engage the greater community and the politicians at the local and state level. We have several annual events as a result of the Chamber being in existence.
Read more…

Latinas are gaining influence all around the world, not just in the United States. From presidents to Supreme Court appointee, many notable women have opened doors for the next generation to walk through. Sonia Sotomayor, Michelle Bachelet and Cristina Fernández de Kirchner were each named to the Forbes World's Most Powerful Women list for different reasons. Let's take a look at these women and their exceptional accomplishments: Sonia Sotomayor Sotomayor is the first Hispanic and only the third woman ever to be appointed to the Supreme Court in the United States. Her impact has just begun to be felt, but the lifetime appointment to the highest court in the land means that her votes and opinions could have a longterm impact on American law. Her life story and perseverance have already inspired so many to reach for the stars and to embrace our the goal of becoming "wise Latinas." Michelle Bachelet As the first female president of Chile, Bachelet has presided over a huge expansion of Chile's free-trade agreements. Under Bachelet, the Chilean economy has remained remarkably stable during the global recession and the gap between the rich and poor (one of the largest in the world) has been addressed through increased social benefits. Cristina Fernández de Kirchner Fernández de Kirchner is Argentina's first democratically elected female leader. Since she rose to power, she has had a seat at influential meetings such as the Summit on Financial Markets and the World Economy and the G20. Kirchner is also a member of the Council of Women World Leaders, whose mission is to mobilize around global issues of critical importance to women.
Read more…

LATINA Style Magazine, a magazine for the contemporary Hispanic woman, will honor Nancy C. Andrade, President of Mexifeast Foods, Inc. as the "LATINA Entrepreneur of the Year 2009 of Chicago " as a part of its 11th annual LATINA Style Business Series (LSBS). The event will take place Thursday, June 18, 2009 from 8:00 a.m. to 4:00 p.m. at Macy’s located at 111 N State St. Chicago , IL 60602 . The Business Series, unique to LATINA Style Magazine, is a well known development program empowering Latina entrepreneurs across the country. Over 18,000 Latina entrepreneurs and professionals have benefited from participating in this exciting and informative one-day business program since its conception in 1998. The Business Series will exhibit expert presenters to speak and interact with the audience on the following topics: The Essentials of a Successful Business, Greening Your Business, Entrepreneur Survival Guide and Look Successful - Be Successful. According to the U.S. Census Bureau, the Hispanic community in Illinois now exceeds 1.5 million in population, including nearly 1 million Hispanics residing in the Chicago Metropolitan Area. As of 2006 over 17,000 Hispanic owned business help the state of Illinois generate nearly $3 million in revenue. This year’s award winner, Nancy C. Andrade established her company Mexifeast Foods, Inc. while working at a large Chicago Law Firm. Today, Mexifeast sells authentic Mexican tamales to retail outlets in the Midwest . Our Luncheon Keynote speaker is Janet Murguía, President and CEO of NCLR (National Council of La Raza), the largest national Hispanic civil rights and advocacy organization in the U.S. Ms. Murguía works tirelessly advancing Hispanic issues with national policymakers. “It’s a privilege for me to salute the Latina entrepreneurs who help create jobs to support our nation’s families,” Murguía said. “Hispanic-owned businesses employ more than 1.5 million people, and that number is sure to grow at a time when innovation and new leadership are urgently needed in the business sectors,” she said. “I commend LATINA Style Magazine for nurturing the tremendous talent of Latina business owners whose contributions to our nation’s economy are ever more vital and appreciated,” she added. Our event co-chairs are dynamic Latina Leaders in the state of Illinois : Pat Pulido Sanchez, President and CEO of Pulido Sanchez Communications, LLC and Gloria Castillo, President of Chicago United. Pat oversees a community relations, public relations and marketing practice specializing in reaching the Latino market for both corporate and business clients- and is a leader in the industry. As president of Chicago United, Gloria is an advocate for diversity and multicultural unity. The morning Keynote speaker is Senator Iris Y. Martinez, the first Hispanic woman elected to the Illinois State Senate. Ms. Martinez currently serves as Chair of the Senate’s Licensed Activities Committee and Vice-Chair of the Senate’s Pensions and Investments Committee. Senator Martinez is also a member of the Illinois Senate’s Commerce, Education, Energy and Redistricting Committees. The Mistress of Ceremony is Zoraida Sambolin, co-anchor of the weekend edition of NBC5 News Today. Before coming to NBC5, Ms. Sambolin was the creator and Emmy award-winning host of "Small Talk for Parents" on WYCC-TV and "Nuestros Niño’s" on WSNS-TV. LATINA Style has partnered with the following organizations: the Association of Latino Professionals in Finance and Accounting (ALPFA) , League of United Latin American Citizens (LULAC), National Association of Hispanic Publications (NAHP), National Latina Business Women’s Association (NLBWA), the Women’s Business Enterprise National Council (WBENC), Women Impacting Public Policy (WIPP), Women Presidents’ Organization (WPO), National Association of Women Business Owners Chicago Chapter (NAWBO), Women’s’ Business Development Center, Mujeres Latinas en Accion, Aniko Salon & SPA, Chicago United, Pat Pullido Sanchez Communications, LLC, Yo Soy Expressions, ACCION Chicago, and the U.S. Small Business Administration (SBA). Media Partners include: Extra publications, La Raza Newspaper, Radio Arte WRTE-FM and PR Newswire. Our 2009 title sponsor, Macy's, has engaged their local cosmetics partner, Lancôme, which will showcase an all-day makeover lounge for attendees! Macy's Reinventing Yourself Makeup Workshop: Come pamper yourself and receive beauty tips from professional makeup artists at the cosmetics lounge open throughout the entire conference! Lancôme makeup artists will show women how to look their best and enhance their beauty with a few subtle changes in makeup and personal appearance. Title sponsor: Macy's, Inc. National sponsors include: Wal-Mart Stores, Inc. and State Farm Insurance. $30.00 Registration fee includes: dynamic panels, high power networking opportunities in the exhibit area, breakfast, lunch, commemorative gift bag, and a two-year subscription to LATINA Style Magazine. $60.00 at the door. For more information or to register for the Chicago Business Series, visit www.bs.latinastyle.com or call 703-312-0904. *** LATINA Style Magazine, a lifestyle magazine for the professional Hispanic woman, hosts the LATINA Style Business Series, bringing resources to entrepreneurs and aspiring entrepreneurs in the local area.
Read more…
It's fitting that San Francisco's Latino Community Foundation should be honoring Herman Gallegos at its gala this week. The foundation is cultivating a new generation of Latino philanthropists. And Gallegos, who is 78, is really the abuelo of Latino philanthropy. A pioneer who helped start a number of national and local Hispanic civil rights groups, Gallegos also was one of the first U.S. Latinos to serve on some heavy-weight corporate and foundation boards. Not only that, he wrote the book (literally) on Hispanics and the nonprofit sector (way back in 1991). READ FULL STORY
Read more…

Unemployment hits harder among Latinos, blacks

The ax fell without sound or shadow: Tatiana Gallego was suddenly called into human resources and laid off from her job as an admissions counselor for a fashion college. "The way people tried to explain it to me was, I was the last one hired so I was the first one out," said Gallego, 25, who had worked there for 17 months. Last hired, first fired: This generations-old cliche rings bitterly true for millions of Latinos and blacks who are losing jobs at a faster rate than the general population during this punishing recession. READ FULL STORY
Read more…

Hispanic foods moving out of the ethnic aisle

After moving to the U.S. 10 years ago, Juana Carabarin still wanted to cook Mexican food for her family but often didn't have time to go to specialty shops for the ingredients. Now the Publix grocery in Norcross, Ga., near her home carries products used in Mexican cuisine — including corn husks for tamales, chilis in the spice aisle, chorizo and queso fresco in the refrigerator case and some branded items. And she no longer has to make do with stand-ins. READ FULL STORY
Read more…

'Right Stuff' restaurateur to see first shuttle launch

The story going around Boron these days is that a shuttle landing is not complete unless it ends with dinner at Domingo's. While Domingo Gutierrez is often telling the story, it isn't idle boasting by this eastern Kern County restaurateur. It's the truth. Within four to six hours of a shuttle spacecraft landing on Edwards Air Force Base's dry lake bed, the crew is in Domingo's Mexican restaurant on Twenty Mule Team Road, chowing down on fajitas and enchiladas, and knocking back Boron water - shots of Gutierrez's $150-a-bottle tequila. After days, maybe even weeks, in space, "those guys are really hungry," says Gutierrez. READ FULL STORY
Read more…

Unveiling Latin America’s economic success

A lot of attention has been focused on the remarkable economic success of China, India and other Asian countries. So much so that the rise of Latin American companies as major players on the international economic scene has almost gone unnoticed. “Latin American companies have fallen through the cracks,” says Lourdes Casanova, a lecturer in strategy at INSEAD and author of Global Latinas: Latin America’s emerging multinationals. “While other emerging market economies have been oversold, Latin America has been undersold. This book wants to celebrate the success of the region and its multinationals.” READ FULL STORY
Read more…

Recession’s Toll on Hispanic Immigrants

The recession has hit Hispanic immigrants especially hard. They have suffered more job losses than most other workers, and their earnings remain lower than those of other groups. Among foreign-born Hispanics, an estimated 47 percent are illegal immigrants. Although some of those immigrants have been pushed by the economic slump to leave the United States, most have stayed and are struggling to hold on to jobs.READ FULL STORY
Read more…
Amid fears that millions of people may be overlooked during next year's census, the Census Bureau will launch a $250 million promotional campaign to encourage participation in the decennial head count, especially among hard-to-reach minority groups in urban areas. More than half those funds will go for advertising across traditional and social media, and nearly a quarter will be devoted exclusively to Asian, black and Hispanic outlets. READ FULL STORY
Read more…

Obama, Geithner Get Low Grades From Economists

U.S. President Barack Obama and Treasury Secretary Timothy Geithner received failing grades for their efforts to revive the economy from participants in the latest Wall Street Journal forecasting survey. The economists' assessment stands in stark contrast with Mr. Obama's popularity with the public, with a recent Wall Street Journal/NBC poll giving him a 60% approval rating. A majority of the 49 economists polled said they were dissatisfied with the administration's economic policies. On average, they gave the president a grade of 59 out of 100, and although there was a broad range of marks, 42% of respondents rated Mr. Obama below 60. Mr. Geithner received an average grade of 51. Federal Reserve Chairman Ben Bernanke scored better, with an average 71. READ FULL STORY CLICK HERE TO VIEW VIDEO
Read more…

'Rescued' Citigroup Buying $50M Jet

Beleaguered Citigroup is upgrading its mile-high club with a brand-new $50 million corporate jet - only this time, it's the taxpayers who are getting screwed. Even though the bank's stock is as cheap as a gallon of gas and it's burning through a $45 billion taxpayer-funded rescue, the airhead execs pushed through the purchase of a new Dassault Falcon 7X, according to a source familiar with the deal. READ FULL STORY
Read more…

Mental stress spirals with economy

As the economic crisis gathered steam last year, Americans became increasingly stressed out and experienced worsened mental health — a trend that continues today, according to a landmark Gallup-Healthways poll out this week. Done nearly every day in 2008 and still ongoing, the survey of 355,334 people is believed to be the largest, longest and most thorough poll showing how emotional well-being shifts with economic changes. READ FULL STORY
Read more…
My wise old grandmother used to invoke the Spanish phrase, "When money is tight, a nickel isn't worth a dime." Actually, that's not a phrase in Spanish (I think it's Yogi Berra). And my grandmother has never passed along anything resembling sage-like insight. She's much more likely to complain that young people don't wear enough clothes. The point is that we Latinos don't have any special wisdom for dealing with this economic disaster, which has become (say it with me) the worst crisis since the Great Depression. In fact, the statistics indicate that Hispanics are ill-suited to weather this financial maelstrom. READ FULL STORY
Read more…

© COPYRIGHT 1995 - 2020. ALL RIGHTS RESERVED