Posts Tagged ‘ Business ’

CAR COMPANIES COP CONGRESSIONAL LOANS

These days, 11-figure expenditures barely attract notice. While Congress was grappling with the 12-figure $700 bailout plan for the financial industry, the powerful Michigan delegation got House approval for $25 billion in loans for the troubled U.S. auto industry.

Lawmakers that pushed for the legislation hailed it as key to saving thousands of jobs in the state. Detroit Rep. Carolyn Cheeks Kilpatrick, chair of the 43-member Congressional Black Caucus, played a major role in passage of the legislation. What many will call “corporate welfare” enables General Motors, Ford and Chrysler to get at least $5 billion each. This allows them to borrow money at interest rates as low as 4 percent. Over several years, the automakers could save hundreds of millions in financing costs. The car companies will have five years before they start repaying the loans.



WHAT OF UNCLE CHARLIE’S WAYS AND MEANS?

What if the nation’s most powerful African American politician had to step down from his high government post simply because of slovenly behavior?

African American political icon, 76-year-old Charles Bernard Rangel is in hot water regarding his Chairmanship of the U.S. House of Representatives’ Committee of Ways and Means. Harlem’s Congressman heads the 110th Congress’ chief tax-writing committee. The U.S. Constitution requires that all bills regarding taxation originate in the House of Representatives, and House procedure is that all bills regarding taxation must go through Rangel’s committee. The 19-term Congressman is accused of slovenliness regarding his person financial and tax filings and real estate deals and under pressure to vacate his high position.



OH, NO THEY DIDN’T!

Former Colonial Power Pays Africans Reparations

Under Col. Muammar Gaddafi’s prolonged and persistent pressure for justice, Libya became the first African country to receive apologies and compensation from a former colonial power. Italian Prime Minister Silvio Berlusconi recently apologized to the North African country for damage Italy inflicted during 40 years of colonial rule and signed an agreement to pay $5 billion as compensation to resolve colonial-era disputes.

Libya’s leader said the settlement opened the door to partnership between the two states. Long a pariah among Western powers, Gaddafi called the treaty “historic” and that it “marked the defeat of colonialism”. Gaddafi said “Tyranny has a price which must be borne by the perpetrators,” while Mr. Berlusconi said the deal ended “40 years of misunderstanding”.



AMERICAN BUSINESS: BROWNS STICKING AROUND, BLACKS STUCK BACK

Capitalism and commerce made America the world’s wealthiest country. For its entire economy history Black Americans’ roles have always been that of laborers – slave, salaried and union. In the present, as in the past, blacks’ sole role in mainstream enterprise is as employees.

Black Americans’ most successful period in business occurred during Reconstruction and the Jim Crow Era when segregation provided a market for transportation, goods via retail outlets and professional services for celebrations, construction, financial services, funerals and media to promote them all.



WHERE THE PARTY AT?

Are you among the 2.6 million contributors to Barack Obama’s or John McCain’s Presidential Campaigns? If not, be happy to sit on the sidelines while the real players pay the price for their place in the corridors of political power.

As they head into their conventions, Democratic presidential candidate Barack Obama has raised $345 million and has $65 million currently on hand. Republican John McCain has raised almost $150 million. Obama reports over 2 million people have contributed to his campaign. When these contributors and party officials arrive at the Democratic and Republican conclaves in Denver and St. Paul, MN they will be treated to lavish festivities.



WHAT DO YOU PEOPLE WANT?

If Black Americans’ wants and wishes aren’t being articulated among the major parties’ political platform committees now, they are unlikely to addressed, during or after, the 2008 Presidential Election.



THE NEW BLACK AGENDA: COLORBLIND IN CAMELOT

African Americans’ most crucial issue into the 21st Century is not getting a Democrat into the White House. The 2008 Presidential race is about exercising black voting patterns that get us public policies and legislation toward racial justice.

Sadly, such black empowerment activities have been put on the back burner. African Americans are allowing themselves to be swayed away from issues critical for them, such as affirmative action and reparations, to mainstream propositions such as “colorblind” standards. Blacks’ unflinching dedication to America’s two-party system establishment negates any notion of these parties engaging to correct public policies and practices that keep us at the bottom of America’s pile of plenty.