Connect with us

Top News

Magic Johnson’s $ 100 million coronavirus stimulus helps



Magic Johnson's $ 100 million coronavirus stimulus helps

Magic Johnson, janitor.

Before we talk about a $ 100 million loan funded by an insurance company for businesses owned by minorities and women, we first need to talk about a 16-year-old toilet boy in a Michigan office building. The curious and ambitious teenager would sneak into the executive office, sit in an easy chair and kick his feet on the table, pretending to give orders to an imaginary assistant.

“That’s when my dream changed from not only in the NBA to also wanting to run my own business,” he said in an interview with the Los Angeles Times on Tuesday. “I always say, ‘If you don’t dream about it, you can’t be like that.’ The initial experience of working for a black business owner shows me what is possible. That’s why I have my business. “

Too often, conversations about diversity and inclusion become too simplified. Seeing someone who looks like you occupy a certain room always means more than just checking the affirmative action box on the HR worksheet. This is about shared experience, or maybe the worldview represented in the country’s kaleidoscope. This is about telling the minority that you are not only singing America, you are American, and your contribution is needed for its success.

“In my era, I didn’t see black people in business,” said Joel Furgeson, who along with fellow businessman Gregory Eaton hired and guided Johnson before becoming Magic. “It’s very important that there are role models, to have the people you want.

“But having an example is not enough. You also have to be a hard worker. [Johnson] really good at doing everything we asked of him. And he asks lots of good and relevant questions about what it takes to be a successful entrepreneur. “

See also  Hidden treasure found in the Rocky Mountains after a decade-long search

Johnson praised the start of cleaning office buildings as the main reason why, after hearing that a minority-owned business struggled to receive the help needed during the coronavirus pandemic, he devised a plan to help.

“If they close due to lack of funds, it will leave many black and brown people unemployed, and that will eliminate access to the resources needed by the community,” Johnson said. “We then have to go outside our community for our goods and services, and that not only makes people depressed, it can damage property values.”

Here’s the plan: EquiTrust Life Insurance Co., owned by Johnson, will channel loans through the federal Small Business Administration Paycheck Protection Program in partnership with MBE Capital Partners, a New Jersey-based non-bank lender working with minority-owned businesses. In general, if companies retain their workforce, PPP loans can function more like grants, which are supported by SBA. Johnson’s funds will reportedly be used for around 5,000 approved loans. Loan recipients will get access to capital that they cannot secure from large banks and credit unions.

At the beginning of the closure, the Center for Responsible Lending projected that more than 90% of businesses owned by blacks, Latinos, and native residents of Hawaii or the Pacific Islands could not obtain PPP loans through large banks or credit unions. For Asian-Americans, 75%.

These businesses have witnessed SBA distributing hundreds of millions of dollars to companies with far better access to the capital market – and far less needs. One of those businesses? Franchise identified by Johnson fully is the Lakers. Last month, the team received a $ 4.6 million distribution before returning it amid public reaction. We all cry to return to normal, but if restaurants, salons, accountants, and community churches continue to be ignored in the most terrible times, that is not what they should be.

See also  BALL - “I love watching the Portuguese league” (Liverpool).

In fact, this is a reminder of how COVID-19, which has claimed the lives of minorities at a disproportionate level, has destroyed a community.

“We know the places where everyone uses your first name, where your mother, father, uncle, or sister works there, and that makes us all feel good and is a source of pride,” said Johnson, who doesn’t just live in liaise with the earliest mentors but also partners in business deals with them. “Places that allow minority children to dream. Just like for me in Lansing. [Ferguson and Eaton] Having a business and giving me a chance is why I am blessed to be able to help people today. That’s how it works. “

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Top News

Portuguese rider Miguel Oliveira in 16th place after the first free practice in Assen – DNOTICIAS.PT



Portuguese rider Miguel Oliveira in 16th place after the first free practice in Assen – DNOTICIAS.PT

Portuguese rider Miguel Oliveira (KTM) finished the first two free practices of the MotoGP Grand Prix in Assen in 16th place.

Oliveira finished the day with a time of 1.34.676 minutes, 1.402 seconds behind the best rider of the day, Italy’s Francesco Banagia (Ducati). Spaniard Aleix Espargaro (April) was second with 0.178 seconds and French champion Fabio Quartararo (Yamaha) was third with 0.305 seconds.

After the first session in the rain, in which the rider from Almada was sixth fastest, the rain stopped before the start of the second session.

The riders started with intermediate tires, but as the track in Assen in the Netherlands, considered the “cathedral” of motorsport, dried up, they installed dry tires (slicks).

Under these conditions, Miguel Oliveira was losing ground in the table, ending the day in 16th place, despite an improvement of about nine seconds from the morning’s record, in rain, in which Australian Jack Miller (Ducati) was the fastest. , fifth in the afternoon.

On Saturday there will be two more free practices and qualifications.

The 10 fastest in the set of the first three sessions go directly to the second stage of qualification (Q2), and the remaining 14 “brawl” in Q1, resulting in the two fastest qualifying to the next stage.

Fabio Quartararo enters this 11th round of the season leading the championship with 172 points, while Miguel Oliveira is in 10th place with 64 points.

See also  Elian Gonzalez from Cuba said he became a father
Continue Reading

Top News

Portuguese MNEs defend that Mercosur is a “natural partner” of the European Union at the moment – Observer



Portuguese MNEs defend that Mercosur is a "natural partner" of the European Union at the moment - Observer

This Thursday, Portugal’s foreign minister said that at a time when the European Union (EU) seeks to diversify suppliers and markets, MERCOSUR is a natural partner whose importance cannot be “underestimated”.

For Portugal, “the current delicate context makes us appreciate even more the mutual advantages of the Agreement between the EU and MERCOSUR,” João Gomes Cravinho said, without directly referring to the conflict between Russia and Ukraine.

“At a time when the EU is seeking to diversify suppliers and markets in order to ensure greater strategic autonomy, MERCOSUR is a natural partner, whose importance we cannot underestimate“, the minister added at a conference entitled “Brazil and Portugal: perspectives for the future”, which takes place from Thursday to Friday at the Gulbenkian Foundation in Lisbon.

The Southern Common Market (MERCOSUR) is a South American economic bloc created in 1991, whose founding members are Brazil, Argentina, Paraguay and Uruguay.


But still, within the framework of the European Union, Joao Gomes Cravinho believed that EU strategic partnership with Brazil left ‘untapped’.

The Minister stressed that in the context of the EU, Portugal “always knew how to use its position in favor of strengthening relations with Brazil.”

Therefore, it was during the Portuguese presidency, in 2007, that a “strategic partnership with Brazil” was established, he stressed.

However, according to the head of Portuguese diplomacy, this is “a partnership that has clearly not been used for a variety of reasons and which still retains the ability to position Brazil as Europe’s great interlocutor for South America.”

See also  Esper told Congress that he was not briefed on Russian 'gifts'

With regard to bilateral relations between the two countries, the minister emphasized that “in this context of global turmoil, the wisdom of the central characteristic common to the foreign policy of Brazil and Portugal, which is active participation in many multilateral structures, in recognition of the indispensability of multilateralism, international cooperation and global rules based order.

Portugal meets with Brazil in all areas of Portuguese foreign policy. We are Atlantic, we are Ibero-American and Portuguese-speaking,” he said.

In the Atlantic dimension, “Portugal and Brazil are united by an ocean, which we recognize as growing in importance in the context of new, complex and truly existential issues,” he said.

According to João Gomes Cravinho, “Some of these problems can be answered in the Atlantic Center, co-founded by Portugal and Brazil”, and “the other part of the huge ocean problems will be addressed in detail at the great Summit.” Oceans”, which will be held in Lisbon next week.

“In any of the areas, new prospects are opening up for Portuguese-Brazilian relations,” he stressed.

With regard to Ibero-America, the minister believes that Portugal and Brazil share “an enormous strategic space with the Castilian-speaking countries, where a joint Portuguese-Brazilian reflection is undoubtedly recommended on the potential to exploit opportunities and create synergies”.

“Value of CPLP [Comunidade de Países de Língua Portuguesa] is gaining more and more recognition at the international level – and the evidence of this is the growing number of states that become associate observers” of the organization, he believes.

“Because they want to engage with us and reinforce the value of the linguistic, cultural and historical ties that unify lusophony and create a unique dynamic for relationships with third parties,” he stressed.

See also  Bored lender consumers flock to working day-buying and selling platforms for the duration of pandemic

But even at this level, he argued that there was an urgent need to find a “convergence of visions and desires” that “allows us to enhance” our “separate realities.”

The minister also mentioned that “despite the break caused by the pandemic”, Portugal has a “real air bridge” with Brazil, consisting of more than 74 weekly TAP flights, which is a cause and effect of “a dynamic that is being updated and reinvented”. relations between the two countries.

This dynamic, according to Gomes Cravinho, is also reflected in economic and commercial relations.

Thus, “Brazil is the first Latin American export market for Portuguese merchandise and is already the fourth largest merchandise export destination (outside the EU).

“However, the conviction remains that the potential is far from being realized, and that nostalgia for the future entails a vision of a different profile of our exchanges, a technological, creative profile that corresponds to global geo-economic transformations,” he defended. .

At this stage, João Gomes Cravinho also underlined the potential of the port of Sines, “whose strategic importance, which has long been noted, takes on new importance in the troubled times that we are going through.”

Continue Reading

Top News

A cycle of Portuguese cinema will be held in New York from Friday.



A cycle of Portuguese cinema will be held in New York from Friday.

Dand from June 24 to 30, an event called “New Stories from Portuguese Cinema” will present the perspectives of a new generation of filmmakers “whose films embody the artistic, social and political reflections that mark the 21st century,” according to the organization in a statement.

Balad o batrachio by Leonor Teles, Amor, Avenidas Novas by Duarte Coimbra and O Cordeiro de Deus by David Pinheiro Vicente are three of the 20 films that are part of this cinematic cycle.

Pedro Cabeleira, Laura Carreira, Susana Nobre, Joao Rosas, Tomas Paula Marquez, Catarina de Souza and Nick Tyson, Maya Cosa and Sergio da Costa, Christel Alves Meira, Paulo Carneiro, Pedro Peralta, Diogo Salgado, Catarina Vasconcelos and Aya Korezli other directors integrated into this movie cycle.

In addition to FLAD, this event is also the result of a partnership with New York-based Anthology Film Archives, an iconic venue for independent and experimental filmmaking, hosting a Portuguese film cycle featuring Francisco Valente.

“Anthology Film Archives has been a reference space for over 50 years. It seemed to us ideal to promote the works of these directors, emphasizing their uniqueness and quality. We believe that Portuguese cinema can gain more space in the United States and we want to do our part to internationalize it,” said FLAD President Rita Faden.

Francisco Valente, guest programmer, explained that the 18 selected directors are distinguished by “their unwavering commitment to using the screen to express their personal freedom, reflect their racial and gender identity, and develop narratives that comment on and expand our reality.” – in Portugal, in the United States, or in that beautiful and imaginary country called cinema.

See also  Bored lender consumers flock to working day-buying and selling platforms for the duration of pandemic

This connection between Portugal and the United States of America is also expressed in the documentary “In the Footsteps of Utopia”, based on the testimonies of “weird” teenagers from Queens, filmed by Catarina de Souza and Nick Tyson, who will come to New York to find out their joint production, which closes this cycle.

The program of the cycle is available in the Screenings section of the Anthology Film Archives “website” ( and on the FLAD “website” ( /uploads/2022/02/new_tales_final_bx.pdf).

See also: Michael J. Fox received a humanitarian “Oscar”, and Diane Warren – an honorary “Oscar”.

Always be the first to know.
6th year in a row Consumers Choice and Five Star Award for Online Press.
Download our free app.

Continue Reading