William Michael Cunningham October 20, 2013 The partial government shutdown did not impact all businesses equally. My research indicates black-owned businesses were hit harder than most. Many are located in states that receive substantial federal aid, such as Maryland and Virginia, and they tend to be in industries such as health care, administration, transportation, professional services and retail that are sensitive to any decline in federal spending. As a result, these companies can experience a double hit. I estimate there are roughly 1.9 million black-owned businesses in the United States, and they generated $131 billion in 2012. That suggests the monetary impact of the shutdown on their businesses to be $10 million per day. We saw the effects. National parks and federally owned museums closed. Tourism, a major industry in the D.C. area, was, as a result, negatively affected. This impact will be felt for some time, since overseas offices that give visas to foreigners se
Showing posts from January, 2019
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Impact Investing Forum- Palm Beach County Convention Center, West Palm Beach, FL- March 31-April 3, 2019 www.opalgroup.net/trk/iifb1916.html 15% discount code: CIIF2019 The Impact Investing Forum will look at many of the asset classes that encompass this space. We invite you to join us and meet top influencers, experienced investors, money managers, and service providers that are leading the charge in this ever growing space. Themes of defining impact investing, portfolio construction, asset class opportunities, and the role of the investor are just a few of the stimulating topics to be covered at this event.
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With the seating of the 116th Congress, Rep. Maxine Waters (D-Calif.) has taken control of the House Financial Services Committee, the House committee tasked with supervision of the banking industry and the Federal Reserve Board. This is an enormously important role. As we surveyed tech- and financial services-related trade and business associations this week, one noted: “I can look into that policy inquiry for you. We are of course always looking to expand our relationships on Capitol Hill, and with the new majority in the House taking the reins, Rep. Waters will be very influential.” See: https://morningconsult.com/opinions/maxine-waters-is-no-wild-eyed-radical/