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City contracts dating to 1993 to be posted on Internet
Published August 3, 2011 - Information on more than 90,000 city contracts dating back to 1993 will be available and easy to download on the Internet, thanks to Mayor Rahm Emanuel’s latest move to shine the light on City Hall. In nearly three months in office, Emanuel has posted an unprecedented amount of information on the Internet in the name of government “transparency.”
Recession Study Finds Hispanics Hit the Hardest
Published July 26, 2011 - WOODBRIDGE, Va. — Hispanic families accounted for the largest single decline in wealth of any ethnic and racial group in the country during the recession, according to a study published Tuesday by the Pew Research Center.
Debt talks: Dick Durbin a voice of reason; Joe Walsh a screamer
Published July 22, 2011 - WASHINGTON — In the ongoing deficit negotiations, Sen. Dick Durbin (D-Ill.) is at all the White House meetings and is one of the bipartisan “Gang of Six.” Then there is freshman Rep. Joe Walsh (R-Ill.), who is a leading voice of anti-President Obama tea party conservatives.
Insider Savor gets McCormick Place food service deal; board awards Hyatt expansion contract
Published July 20, 2011 - (Crain's) — McCormick Place has awarded a five-year, $3.1-million food service contract to a unit of the company it recently hired to manage the lakefront convention center.
Illinois Supreme Court upholds construction plan, video poker law
Published July 11, 2011 - SPRINGFIELD --- The Illinois Supreme Court today gave a thumbs up to Gov. Pat Quinn's showcase $31 billion public works program and the video poker that's supposed to help pay for it. The 7-0 ruling allows state lawmakers and the governor to exhale after an appellate court had thrown out the deal earlier this year. You can read the state Supreme Court opinion here.
Illinois Supreme Court Rules in Favor of Putting Illinois Back to Work
Published July 11, 2011 - Today's Illinois Supreme Court decision upholding the state's 2009 capital plan and its funding plan will help put Illinois workers back to work, implement critical infrastructure projects and generate new revenues for local municipalities. Among those revenue plans verified by the Supreme Court's action is the Video Gaming Act, which will provide host municipalities with a key revenue source, enhance law enforcement and institute needed reform of the state's unregulated gaming system.
Alderman to Run for Court Clerk
Published July 11, 2011 - Veteran Ald. Ricardo Munoz (22nd Ward) said Wednesday that he will run for clerk of the Circuit Court of Cook County in next year’s election. Munoz would challenge incumbent Dorothy Brown, who was first elected to the jobs-rich office in 2000, in the Democratic primary in March.
Better Lives for Mexicans Cut Allure of Going North
Published July 6, 2011 - AGUA NEGRA, Mexico — The extraordinary Mexican migration that delivered millions of illegal immigrants to the United States over the past 30 years has sputtered to a trickle, and research points to a surprising cause: unheralded changes in Mexico that have made staying home more attractive.
The changing face of America's youth
Published July 6, 2011 - (CNN) -- The United States is walking a path to greater diversity. And younger people are leading the way. For the first time in national history, the majority of young people in two states -- California and New Mexico -- now identify as Hispanic, according to census data released this year.
Empty jackpot
Published July 1, 2011 - Illinois celebrates its program to steer state contracts to businesses owned by minorities, women and people with a disability. But a closer look shows the state may not be fulfilling its goals.
Emanuel, Duncan praise federal DREAM Act in advance of Durbin's Senate hearing
Published June 27, 2011 - Mayor Rahm Emanuel and U.S. Secretary of Education Arne Duncan today voiced their support for national DREAM Act legislation ahead of Tuesday's first U.S. Senate hearing. Emanuel noted that during the spring session state legislators passed an Illinois version of the act that gives children of undocumented residents help paying for college by creating a private donation fund. That bill was modeled after the federal version, which is sponsored in the U.S. Senate by Sen. Dick Durbin, D-Ill.
Walmart exec says Chicago suits chain’s growth plans
Published June 27, 2011 - A top executive of Wal-Mart Stores Inc. told local business leaders Monday that returns from the company’s small-format stores have recently become as profitable as those of its well-known supercenters. The changing business model means that Chicago is the best venue for Walmart’s growth, said Thomas A. Mars, executive vice president and chief administrative officer of Walmart U.S., during the Metropolitan Planning Council’s annual luncheon at the Hyatt Regency Chicago.
Who Really Owns the 2012 Hispanic Vote?
Published June 27, 2011 - As the 2012 Presidential campaign begins and questions loom about who the GOP front runner will be and Obama’s second term fate; there is one critical question that remains unasked, let alone unanswered: Who really owns the Hispanic vote?
Illinois village that declared English its official language wants El Conquistador newspaper out of Village Hall
Published June 20, 2011 - Northwest Herald executive editor Chris Krug recently received this email from Nanette Burns, executive assistant to the village manager in Carpentersville, Ill., which is about 40 miles from Chicago.
IHCC Statement on the Inspector General's Report on the City's MWBE Program
Published June 15, 2011 - The IGO makes a number of important recommendations and points out that real improvement will require the leadership and commitment of the Mayor and the City Council. IHCC fully agrees with the recommendations by the IGO except for the call to dismantle the Target Market program and the granting of waivers from MBWE goals in construction contracts. We ask that these recommendations be reconsidered.
IHCC Member and Co-founder Gery Chico appointed to lead the Illinois State Board of Education
Published June 7, 2011 - Gov. Pat Quinn on Tuesday tapped former Chicago mayoral candidate Gery Chico to lead the Illinois State Board of Education, calling the former chairman of the city's public schools a "leader of distinction." The appointment brings a leader with political connections and education credentials to the state board at a time when public school funding faces deep reductions because of the state's budget woes.
Many tax uncertainties but also unique planning opportunities as 2010 comes to a close
Published November 12, 2010 - The political trend has created unique tax planning challenges for 2010. Various tax provisions enacted in 2001 and 2003 reducing taxes are expiring at year-end. And although the balance of power has just shifted in Congress, there is still uncertainty on where tax rates will end up. Most tax policy experts do not expect Congress to extend the expiring provisions either in the “lame-duck” session or in 2011.
Illinois: We'll take Wisconsin's $810M in stimulus money
Published November 9, 2010 - Illinois wants the $810 million in federal high-speed rail money that Wisconsin Governor-elect Scott Walker has promised to reject. “We’d love to have it,” said Illinois Transportation Secretary Gary Hannig. He said Illinois, which has already received $1.2 billion in high-speed rail funding, could spend Wisconsin’s money making further improvements to the Chicago-St. Louis corridor to add more passenger runs.
Report: Many Illinois colleges don't prepare teachers for the classroom-Education schools dismiss study's findings as 'small piece of the puzzle'
Published November 9, 2010 - Some of Illinois' best-known teacher education programs are leaving prospective teachers ill-prepared for the classroom, according to a new report released Tuesday. The National Council on Teacher Quality examined 111 undergraduate and graduate programs in 53 education schools across the state and found many — including Illinois State University and Northern Illinois University, the state's two largest producers of teachers — to be inadequate, particularly in math and reading instruction.
Hispanic vote a 2012 wild card
Published November 7, 2010 - Hispanic voters saved the Democratic Party Tuesday — buoying Senate Majority Leader Harry Reid, keeping California blue, playing an outsize role in preserving the party’s Senate majority and demonstrating a partisan loyalty Democrats didn’t exactly earn in two years of inaction on immigration policy.
Sara Lee Said to Be Near Agreement to Sell Unit to Grupo Bimbo
Published November 7, 2010 - Sara Lee Corp. is near an agreement to sell its North American bakery business to Grupo Bimbo SAB, the world’s largest bread maker, for $900 million to $1 billion, according to two people with knowledge of the bidding.
Daley in hurry to appoint interim schools chief
Published November 4, 2010 - Mayor Richard Daley said Thursday that he will appoint an interim replacement for Chicago Public Schools CEO Ron Huberman "very quickly" and that his appointee will have a business background.
Election doesn't end major discord for GOP, Obama
Published November 4, 2010 - WASHINGTON – Barely an hour after President Barack Obama invited congressional Republicans to post-election talks to work together on major issues, the Senate's GOP leader had a blunt message: His party's main goal is denying Obama re-election. In a sign that combat and the 2012 elections rather than compromise could mark the next two years, Sen. Mitch McConnell on Thursday called for Senate votes to repeal or erode Obama's signature health care law, to cut spending and to shrink government.
Giannoulias and Kirk toast end of their bitter campaign at 'Beer Summit'
Published November 4, 2010 - On the day after their go-for-the-jugular Senate campaign ended, Republican Sen.-elect Mark Kirk and his Democratic opponent Alexi Giannoulias met for what some called the “Beer Summit” named after President Obama’s meeting with a police officer he criticized. Kirk quipped to Billy Goat Tavern Owner Sam Sianis, “Some people are calling this the ‘Beer Summit.’ It’s actually the Billy Goat Summit.”
State Senate meets today on $4B borrowing plan
Published November 4, 2010 - The Illinois Senate will be back at the Capitol today to consider borrowing $4 billion to help close a hole in the state budget, but there's no guarantee that legislation will pass even in a post-election atmosphere. Democratic Senate President John Cullerton of Chicago insists there must be Republican support for a borrowing plan. But Senate Republican leader Christine Radogno of Lemont wants a commitment to put in place money-saving reforms in workers compensation and health insurance for the poor programs.
The Latino Vote in the 2010 Elections
Published November 4, 2010 - Tuesday's midterm elections were historic for Hispanics. Washington, D.C. - infoZine - For the first time ever, three Latino candidates-all of them Republicans-won top statewide offices. In New Mexico, voters elected the nation's first Latina governor, Republican Susana Martinez. In Nevada, Republican Brian Sandoval won the governor's race and became Nevada's first Hispanic governor. And in Florida, Republican Marco Rubio won the U.S. Senate race.
Latino support for Democrats remains strong despite lack of immigration reform
Published November 4, 2010 - Republicans may have won the House, but immigrant advocacy groups are quick to point out that the party was fairly unpopular among Latinos, who helped Democrats win in major races in California, Colorado and Nevada. The Pew Hispanic Center released a report last night on Latino voting in the 2010 elections, based on exit poll data. The numbers were slightly lower than a Latino Decisions poll of Latino voters* — Pew found that 64 percent of Latinos chose Democratic candidates, versus 78 percent according to the Latino Decisions poll — but still pointed to a strong preference for Democrats among the fastest-growing minority group.
Poll: Hispanics give Barack Obama mixed marks
Published November 3, 2010 - Hispanic voters gave mixed marks to President Barack Obama in an election-eve poll released Wednesday — an early sign that he has ground to make up with this constituency ahead of his 2012 reelection campaign. Forty-nine percent of Hispanic voters said they approved of Obama’s handling of immigration, and 40 percent disapproved, according to the polling by Latino Decisions, which surveyed 3,200 voters in eight key states.
CPS chief Huberman to leave post Nov. 29
Published November 3, 2010 - Chicago Public Schools CEO Ron Huberman will leave his post later this month, according to district spokeswoman Monique Bond. Huberman, 38, will depart Nov. 29 after a 16-year career in city government that saw him lead the Office of Emergency Management, the Chicago Transit Authority and the office of Mayor Richard M. Daley. He began his career as a Chicago police officer.
Prepare for the battering Rahm-Is anyone capable of stopping Emanuel's charge?
Published November 3, 2010 - Now that the acrimony and hatred of Tuesday's elections are behind us, let's look to the civilized, restrained and genteel politics of Chicago's future. I'm talking about the Chicago mayoral race. So civilized, so restrained, so tres genteel.
Mobilizing the Latino vote
Published November 2, 2010 - New York (CNN) - An election eve poll of likely Latino voters in eight key states shows that immigration and the anti-immigration campaign played a major role in mobilizing Latinos to vote.
Voter turnout in city more than 50 percent
Published November 2, 2010 - Both the Chicago and the Cook County Board of Elections report that turnout looked good so far for Tuesday’s election. Officials are projecting at least 50 percent of Chicago voters turned out to vote in the mid-term elections. The Chicago Board of Elections reported a 50.36 percent turnout in more than a third of the city's 2,570 precincts that had unofficial totals as of 8 p.m., spokesman James Allen said.
State senator's brother injured in hit-run outside polling site
Published November 2, 2010 - A younger brother of State Sen. Antonio Munoz, D-Chicago, was struck and knocked into the air by a speeding car Tuesday morning as he walked to a Southwest Side polling place.Martin Munoz, 40, suffered lacerations and trauma to his head as well as a broken right leg that required surgery. He was expected to fully recover, the senator said.
Early voting Hispanics grow 13 percent: official
Published November 1, 2010 - WASHINGTON — The number of Hispanic voters who cast early ballots in this year's legislative elections grew by 13 percent compared to 2006, a senior White House official said Monday. "We worked hard and made a major effort to reach out to Latinos. We contacted four times more Latino voters that we did in 2006," President Barack Obama's senior political adviser David Axelrod told Hispanic media in a telephone interview.
Emanuel urges city reforms on no-bid contracts
Published November 1, 2010 - Careful not to criticize Mayor Daley directly, mayoral challenger Rahm Emanuel is proposing a series of reforms to "change the culture" of contract cronyism that has dominated the Daley years. "We've got to change the culture. We're in the business of delivering services. This is not about rewarding friends and family members," Emanuel said.
Why Hispanic businesswomen are prospering
Published October 31, 2010 - It's 3 p.m. and Irela Bagué is at a business meeting at the Biltmore Hotel in Coral Gables with two of the partners in her multilingual marketing services firm. Polished and energetic, she's bantering with her colleagues as they prepare for a meet-and-greet with members of the Latin American Business Association.
Mayoral Race Bares Division Among Hispanics
Published October 30, 2010 - Once a month, about 35 young Hispanic professionals gather to take a United Neighborhood Organization class that has become a leadership incubator for the city’s fastest-growing ethnic community. The most recent session of the course, Tuesday night at the East Bank Club, came as Juan Rangel, the organization’s chief executive, emerged at the center of a dispute over how Hispanics should approach the succession fight for City Hall’s top job.
Immigration issues split Kirk, Giannoulias Both Senate candidates agree on border security
Published October 30, 2010 - U.S. Senate candidates Alexi Giannoulias and Mark Kirk both say they want tougher enforcement of U.S. border security, but they disagree on what to do with immigrants who are already in the country illegally. Giannoulias wants to move forward with a broad plan to legalize illegal immigrants across the country. Kirk says any such reform attempt must wait while Congress focuses on ensuring the integrity of the U.S.- Mexico border.
Money rolls in, campaign ads roll on
Published October 30, 2010 - An unprecedented influx of political cash — most of it from outside Illinois — is feeding an inescapable wave of television attack ads aimed at manipulating voters in the final weeks of high-stakes campaigns for U.S. Senate and governor.
Prison Economics Help Drive Ariz. Immigration Law
Published October 28, 2010 - Last year, two men showed up in Benson, Ariz., a small desert town 60 miles from the Mexico border, offering a deal. Glenn Nichols, the Benson city manager, remembers the pitch. "The gentleman that's the main thrust of this thing has a huge turquoise ring on his finger," Nichols said. "He's a great big huge guy and I equated him to a car salesman."What he was selling was a prison for women and children who were illegal immigrants.
Sheriff Tom Dart won't run for Chicago mayor
Published October 27, 2010 - Cook County Sheriff Tom Dart, who is seeking re-election next week, said today he will not run for Chicago mayor next February. Standing outside the jail he has overseen since 2007, Dart said he has struggled with the decision since Mayor Richard Daley announced last month that he would not seek another term. "I couldn't do both," Dart said of running for mayor and being a father and husband. "It wasn't the appropriate thing for me just to take my time."
Latino Vote Will Make or Break the Democrats in 2010
Published October 26, 2010 - Who is going to win in November? Follow the Latino Vote. 50 million Hispanics, America's largest minority, (disclosure I emigrated from Chile at age 4) are critical voters in the November election next week. Latinos are 9% of the eligible voters and 16% of the population. But will they get to the polls?
US Hispanics can expect to outlive whites, blacks by years, says first-of-its-kind CDC report
Published October 13, 2010 - ATLANTA (AP) — U.S. Hispanics can expect to outlive whites by more than two years and blacks by more than seven, government researchers say in a startling report that is the first to calculate Hispanic life expectancy in this country. The report released Wednesday is the strongest evidence yet of what some experts call the "Hispanic paradox" — longevity for a population with a large share of poor, undereducated members. A leading theory is that Hispanics who manage to immigrate to the U.S. are among the healthiest from their countries.
Government Contracting
Published October 7, 2010 - Office of Government Contracting, Women-Owned Small Business Program On October 7, 2010, the U.S. Small Business Administration published a final rule effective February 4, 2011, aimed at expanding federal contracting opportunities for women-owned small businesses (WOSBs).
CNN Poll: 24% of Hispanics Support SB 1070
Published August 4, 2010 - A CNN/Opinion Research Corporation Poll reports that 24% of the Hispanics questioned support the new Arizona SB 1070 law. 71% of Hispanics polled are opposed to the bill while white respondents responded 61% in support of bill with 34% opposed.
Hispanic Market Hits Tipping Point
Published July 26, 2010 - NEW YORK (AdAge.com) -- If you're looking to reach upholders of traditional American values, your best bet might be the Hispanic market. The market is growing: The 2010 Census expected to count a record 50 million Hispanics, or one in every six U.S. residents, meaning the Hispanic population will have increased a stunning 42% from the previous census in 2000. (By comparison, the non-Hispanic population will have edged up just 5% in that decade.) It's also got scale: Hispanics are now the nation's second-largest consumer market after white non-Hispanics, who are still the largest group at about 200 million.
The Post-Hispanic Hispanic Politician
Published May 6, 2010 - In early December, Julián Castro, the newly elected mayor of San Antonio, visited the White House to attend President Obama’s national jobs-and-economic-growth forum. Castro was one of only five mayors in attendance and, at 35, the youngest. When his turn came to speak — the subject was the creation of green jobs — the president looked at him, midway down the long conference table, and said: “I thought he was on our staff. I thought he was an intern. This guy’s a mayor?” The other participants — world-famous economists, environmentalists and politicians — burst into laughter.
Getting Government Contracts
Published October 9, 2009 - There are many federal contracting opportunities for small businesses, but to take advantage of them you have to know the ins and outs of the government’s contracting rules and regulations. Of the more than 20 million small businesses in the United States, only about 500,000 are currently in a position to do business with the federal government. That’s not because they are the only ones capable of doing the work; it’s because they know how to get the work.
To Get a Business Loan, Know How the Bank Thinks
Published May 28, 2009 - To hear some small-business owners talk, getting a loan remains all but impossible. And yet, many bankers claim that their small-business loan volume is up significantly. So, is the small-business credit crisis over or not? At first blush, the evidence seems contradictory. On one hand, many national banks have drastically cut back small-business lending. In addition, Advanta, a major issuer of small-business credit cards, declared on May 12 that it was closing customer accounts to new charges.
Consumer confidence soars in April
Published April 28, 2009 - Hopeful signs that the worst may be over for the economy boosted Americans' moods in April, sending a closely watched barometer of sentiment to the highest level since November. The New York-based Conference Board said Tuesday that its Consumer Confidence Index rose more than 12 points to 39.2, up from a revised 26.9 in March. The reading marks the highest level since November's 44.7 and well surpasses economists' expectations for 29.5. The consumer confidence survey showed a substantial improvement in consumers' short-term outlook, including even their assessment of the job picture.
Arturo Velasquez, 1915-2009: Educational, political leader in Chicago's Hispanic community
Published April 24, 2009 - Arturo Velasquez, a Mexican immigrant who started a successful jukebox business with a single machine in his mother's taco shop, was an educational and political leader in the Hispanic community who helped many newcomers get a foothold in Chicago. Mr. Velasquez, 93, died of natural causes Friday, April 17, in his Palos Hills home, said his son Arthur.
Minding your business: Immigrants embracing entrepreneurship
Published March 30, 2009 - To hear Greg Wozniak tell it, immigrants hold an advantage in building a business. "Being an immigrant gives you an edge. You have better instincts when talking to consumers from all over the world," said Wozniak, president of Doors for Builders Inc., which has built an international market for its wooden entry doors via its Web site, DoorsForBuilders.com. Wozniak's Bensenville business had sales of $1.5 million last year, up 16 percent from 2007, despite a tough economy. Experts agree. Immigrants tend to have a drive to succeed, a tolerance for risk and a strong work ethic, all characteristics that contribute to their disproportionate rate of entrepreneurship in this country.
There’s Safety in Military Contracts
Published March 26, 2009 - While it may seem that only large corporations like Halliburton and Lockheed Martin would have a shot at lucrative military contracts, the Defense Department actually awards more than half, or $55 billion, to small businesses. And the Obama administration’s $787 billion stimulus plan promises to make even more money available.
Un diseño de planes financieros a la medida
Published March 10, 2009 - Mexicoamericano plantea que la pequeña empresa local debe ser fortalecida
Growing Hispanic community impacting business
Published February 27, 2009 - The Hispanic population is growing rapidly, and census figures estimate that by 2025, Hispanics in Illinois will make up nearly 17 percent of the state’s population, a surge of more than 1.2 million people since 1995. With that growth comes a demand for Hispanic businesses, as second and third generation families choose products and services that complement their culture. Adrian Soto sees this shift first-hand. His parents were immigrants and he, like many other young Hispanic professionals, had the opportunity to go to grow up here, attend college and, in turn, has adapted to an English-speaking business environment. It is a demographic that is growing both in numbers, and in economic power.
The Top 10 Mistakes People Make When Starting A Business
Published January 12, 2009 - What are the common mistakes that new entrepreneurs make and how can you avoid making them yourself? Here is our top 10 list of mistakes people make when starting a business:
Barack Obama's plan to stimulate economy garnering support
Published December 10, 2008 - Economists generally frown on building roads, bridges, hospitals and other projects as a tool to stimulate a sick economy. Takes too long, some say. Causes waste and inefficiency, others say. But in the middle of the worst economic crisis since the Great Depression, these reservations have been largely put aside. President-elect Barack Obama is preparing to prime the pump like Washington politicians of old, with a vast reconstruction effort designed to create 2.5 million jobs. Despite a price tag ranging from $700 billion to $1 trillion and questions about its effectiveness, the Obama stimulus package is receiving general approval from economists and public officials.
Renewed emphasis on SBA loans, advice
Published November 11, 2008 - Government construction contracts continue to roll in for Samuel Zepeda Jr., president of Vistas Construction of Illinois. The minority-owned firm recently was awarded two federal government contracts totaling $26 million to build levees in Des Plaines and Morton Grove, projects that will employ up to 50 people here for about three years, said Zepeda, who founded the South Side company in 2000. He also has 20 workers building a levee in New Orleans under a $14.5 million federal contract that will run for another 10 to 12 months
Looking for Cost Cuts in Lots of New Places
Published October 28, 2008 - When it comes to cutting costs during tough economic times, many small businesses start out with a disadvantage: They don't have all that many costs to cut. Even during good times, small businesses tend to keep expenses pretty tight. The result is that small companies often have to get creative in their efforts to find waste in places where little exists.
78 Ways for Your Small Business to Save Money in this Economy
Published October 14, 2008 - With the economy struggling, every business is trying to cut costs to make ends meet. Small businesses, which have fewer resources, especially feel the burn. Not to fear. We’ve come up with a mega-list of ways to trim the fat off your enterprise so you don’t become a casualty of the latest economic downturn.
Women Business Owners Seek Better Access to Federal Contracts
Published October 8, 2008 - Women have spent years trying to open up the system of awarding government contracts. The Women’s Business Ownership Act, which laid the groundwork for women to participate in government contracting, is now 20 years old, yet women are still getting only a sliver of the contracting pie. In 2000, Congress directed that female small-business owners receive 5 percent of federal contracts each year, now estimated to total $435 billion. But putting that mandate into effect has been a continual battle between lawmakers and the Bush administration.
Economy to Entrepreneurs: Turn Back
Published September 26, 2008 - Research has consistently shown that the share of employment and sales accounted for by small businesses tends to be more cyclical than for large ones, says David B. Audretsch, a professor at Indiana University and the director of the Max Planck Institute of Economics in Jena, Germany. When the economy expands, small businesses gain more than large companies. In an economic downturn, small businesses tend to be hit harder. Suffering the most are companies in construction, manufacturing, retailing, finance and overseas travel, says Chad Moutray, chief economist of the federal Small Business Administration. As for location, he says, “small businesses have been hardest hit in areas where the housing crisis is at its worst.”
Pain Spreads as Credit Vise Grows
Published September 19, 2008 - The latest outgrowth of the housing crisis, the breakdown on Wall Street, threatens to gradually corrode economic activity on Main Street, mainly by disabling the credit on which so many everyday transactions depend — but also by frightening people. Lenders of all types had already been raising the bar for borrowers, turning away all but the best customers. This week, they became even less willing to part with their money, further crimping budgets and family spending.
The Key to Wedded Bliss? Money Matters
Published September 15, 2008 - IF you ask married people why their marriage works, they are probably not going to say it’s because they found their financial soul mate. But if they are lucky, they have. Marrying a person who shares your attitudes about money might just be the smartest financial decision you will ever make. In fact, when it comes to finances, your marriage is likely to be your most valuable asset — or your largest liability. Marrying for love is a relatively recent phenomenon. For centuries, marriages were arranged affairs, aligning families for economic or political purposes or simply pooling the resources of those scraping by.
Private equity says 'hola' to Latino firms
Published August 6, 2008 - Large investors and Fortune 500 companies are vying for Hispanic, African-American and Asian-American consumers. Palladium especially is eyeing the 40 million Latinos who are 15% of the U.S. population. Market-research firm HispanTelligence projects U.S. Latino purchasing power will hit $1 trillion by 2010.
Colombia: The Next Chile?
Published August 5, 2008 - Colombia continues to attract foreign investors due to its economic and political climate. Will it even become the next Chile?
“High-Impact” Firms Create Most Jobs And Growth
Published August 2, 2008 - “High-impact” firms create America’s new jobs and growth, according to a study released today by the Office of Advocacy of the U.S. Small Business Administration. Distributed across all industries, high-impact firms account for almost all employment and revenue growth in the economy, the study concludes. “While high-impact firms make up about five percent of firms with employees, their effects are huge,” said Brian Headd, an economist with the Office of Advocacy. “Surprisingly, the study also shows that these firms are on average around 25 years old, they are not predominantly high-tech, and they exist in every region of the country.”
Worried Banks Sharply Reduce Business Loans
Published July 28, 2008 - Banks struggling to recover from multibillion-dollar losses on real estate are curtailing loans to American businesses, depriving even healthy companies of money for expansion and hiring. Two vital forms of credit used by companies — commercial and industrial loans from banks, and short-term “commercial paper” not backed by collateral — collectively dropped almost 3 percent over the last year, to $3.27 trillion from $3.36 trillion, according to Federal Reserve data. That is the largest annual decline since the credit tightening that began with the last recession, in 2001.
Deepening Cycle of Job Loss Seen Lasting Into ’09
Published July 2, 2008 - As automakers dropped their latest batch of awful sales numbers on the market on Tuesday, reinforcing the gloom spreading across the economy, the troubles confronting American workers seemed to intensify.
Many CEOS have visions of swirling pink slips
Published June 18, 2008 - Nearly one-third of the country's top executives expect to cut payrolls in the coming months, reflecting fallout from the housing bust as well as soaring energy prices. At the same time, a survey by the Business Roundtable, released Wednesday, showed that most executives expect sales and capital investment to remain at current levels or even improve over the next six months.
Chicago is losing its middle class: report
Published June 13, 2008 - This group shrank by 14% between 1970 and 2005, according to a report released Thursday by Brookings Institution research group. The decline was above the average slide of 10.7% for the 100 metropolitan areas included in the study, giving Chicago the eighth-largest drop in the group. The report defines middle class as workers who earn between 80% and 150% of their metro area’s median income.
City taps new HR chief
Published June 10, 2008 - Mayor Richard M. Daley on Tuesday tapped labor lawyer Homero Tristan as head of the city’s human resources department. As Chicago’s commissioner of human resources, Mr. Tristan, 37, is charged with reforming the city’s hiring practices as well as recruiting new employees, overseeing promotions and labor relations and enhancing productivity.
Study Calls for ‘Energy Revolution’
Published June 6, 2008 - The world needs to invest $45 trillion in energy in coming decades, build some 1,400 nuclear power plants and vastly expand wind power in order to halve greenhouse gas emissions by 2050, according to an energy study released Friday. The report by the Paris-based International Energy (OOTC:ILGL) Agency envisions a "energy revolution" that would greatly reduce the world's dependence on fossil fuels while maintaining steady economic growth.
Hispanics losing wages, jobs during housing slump
Published June 5, 2008 - The slump in the construction industry has hit Hispanics especially hard, causing "a dramatic reversal" in their economic gains as more become jobless while wages continue to drop, according to a study of labor statistics released today. The Pew Hispanic Center, a non-partisan research group in Washington, D.C., found that the jobless rate for Hispanics rose to 6.5 percent during the first quarter of 2008. That's compared to 4.7 percent unemployment rate for the rest of the country's population.
Restaurant Outlook Improves
Published June 2, 2008 - Owners reported increased traffic in April following record lows in recent months.
Beyond Outsourcing, to Worldsourcing
Published May 30, 2008 - Over the next several years, virtually any global company's success will depend on its willingness to reorient its view of the world map. This attitudinal—and longitudinal—shift will have enormous ramifications for business leaders, employees, and customers alike. Here's one perspective on ways to prepare and put yourself in the best position to succeed in this new environment.
U.S. City of the Year: Chicago
Published May 20, 2008 - The real Chicago isn't so easy to keep up with. It's constantly reinventing itself. Jumpy. Agitated. Impatient. It's as if the place is trembling. Move aside. Don't linger. And if you're going to dawdle, get out of the way. But what any Chicagoan will also tell you is that the past is very much present. It doesn't go away. It shouldn't. In fact, that's Chicago's lure and its beauty: its ability to take what was and figure out what could be.
Google makes health service publicly available
Published May 19, 2008 - Google's online filing cabinet for medical records opened to the public Monday, giving users instant electronic access to their health histories while reigniting privacy concerns. Called Google Health, the service lets users link information from a handful of pharmacies and care providers, including Quest Diagnostics labs. Google plans to add more.
Many Hispanics Are Hit Hard by Economic Slump
Published May 13, 2008 - The economic downturn unfolding across the United States is imposing a particularly punishing toll on Hispanics, a group that was among the primary beneficiaries of the expansion in recent years. What had been a story of broad and steady advances has given way to growing joblessness, diminishing paychecks and lost homes.
Wall St. Starts to See Signs of a Turnaround
Published May 1, 2008 - Main Street may be struggling, but Wall Street is on a bit of a roll. Despite a drumbeat of bad economic news, the stock market is up — almost 11 percent in the last few weeks. Junk bonds, those risky corporate I.O.U.’s, are rallying. The value of financial shares, bank loans, tricky credit derivatives — up, up, up.
SBA Deputy Expected to be Nominated as Agency Chief
Published April 28, 2008 - The Small Business Administration's second in command is expected to be named acting administrator if agency chief Steven Preston leaves to head the Housing and Urban Development Department, as requested by President Bush. When SBA Deputy Administrator Jovita Carranza was confirmed for her current position in December 2006, she said: "I will bring to the Small Business Administration a goal-oriented management philosophy with a history of successes on two continents."
Raising Rates Without Losing Clients
Published April 23, 2008 - With the economy in the doldrums, the question that consultants, freelancers and other solo service providers have long puzzled over — How to raise prices without losing customers — just got harder to answer. After all, a client who is also struggling is not likely to sympathize with someone else’s financial woes.
Despite Downturn, Financing Exists for Small Companies
Published April 17, 2008 - With all the grim earnings news from corporations and banks lately, not to mention the continuing credit squeeze and widespread talk of recession, it would seem that most small companies, too, would be having a hard time finding financing. But that was not the case at a recent conference in Southern California, where 1,000 investment professionals came from all parts of the United States to hear and talk to 330 aspiring companies — 50 of them from China. Many of the companies sought by investors were developing environmental, clean energy, cellphone, water treatment and biomedical technologies.
What Surveys Say About Recession
Published April 15, 2008 - Are small business owners reeling from the effects of the credit crunch and the overall downturn or brushing them off? Depends on whom you ask
Where Small Business Owners Shouldn't Cut Costs
Published April 15, 2008 - Is the economic slowdown squeezing your bottom line? If so, you're not alone. Everyone is feeling the pinch these days. If you're like most business owners, you're looking for a way to cut costs. A word of advice from the University of Wisconsin School of Business: Stay away from personnel.
Small Businesses Fight New Tax Rules
Published April 9, 2008 - Advocates for small businesses are fighting changes in tax laws that the Bush administration says are aimed at cracking down on tax cheating, particularly by the self-employed. Not all the changes proposed by the Treasury Department are aimed at small-business owners but the ones that do, those representing small business argue, will create a mountain of new paperwork that will be cumbersome and costly.
English speaking Hispanics represent 2/3 of Hispanic Boomers
Published April 8, 2008 - Marketers and advertisers have recognized the importance of Hispanic consumers for some time but have segmented within the Hispanic community primarily on the basis of language -- creating Spanish language ads and communication for the unacculturated, Spanish-speaking population while relying on their mainstream communication to reach more-acculturated, English- speaking Hispanics.
U.S. Economy: Durable-Goods Orders Drop, New-Home Sales Slide
Published March 26, 2008 - Orders for U.S. durable goods unexpectedly fell in February, led by a slump in demand for machinery, as the housing downturn and the prospect of a recession made companies hesitant to invest. The 1.7 percent drop in demand for products made to last at least three years followed a 4.7 percent decrease in the prior month, the Commerce Department said today in Washington. The department also reported that sales of new homes dropped 1.8 percent last month to a 13-year low.
Oil and Gold Prices Rise
Published March 26, 2008 - Oil prices jumped $4 a barrel on Wednesday after a United States government report showed larger-than-expected drops in fuel stocks in the world’s top consumer. Gasoline inventories fell by 3.3 million barrels, the Energy Information Administration said, more than the 800,000-barrel decline expected. Distillates dropped 2.2 million barrels, also more than forecast.
Finding Health Insurance if You Are Self-Employed
Published March 25, 2008 - If there is one issue that divides the self-employed from all other employees, it is their preoccupation with the subject of health insurance.
Business Loans Get Personal
Published March 20, 2008 - As credit tightens, entrepreneurs are seeking alternative funding methods through social lending.
Small Business 101: How to Get Started
Published March 18, 2008 - Take a good look at that store on the corner. There is a 10 percent to 12 percent chance it will not be there next year, according to the Office of Advocacy for the Small Business Administration. “If you’re new you have about a 50-50 chance of surviving five years,” said Brian Headd, an economist with the Office of Advocacy, which tracks small businesses and examines the impact of proposed regulations on them.
The most and least profitable businesses to start
Published February 7, 2008 - Entrepreneurs start companies for all sorts of reasons. Maybe they have a passion, like being in control, want more flexibility--or even hate their current jobs. But no matter the inspiration, one thing's for sure: They'd better make money. A rising revenue line might make for good cocktail conversation, but if you don't turn a profit--and keep turning one--you won't be an entrepreneur very long.
Raising Capital in an Economic Slowdown
Published February 7, 2008 - Raising capital is difficult under normal conditions, and a tight credit market and fears of an economic slowdown have made the challenge harder. Unproven early-stage companies could face a tough time finding funds from informal investors who are less willing to take risks in an unsteady economy. Firms looking for equity investments should expect to give up more ownership for less cash than during flusher times. For established businesses that are good credit risks, lower interest rates will make borrowing more attractive. Here's what you need to know.
