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Magic Johnson’s $ 100 million coronavirus stimulus helps

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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. “

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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.

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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. “

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Prize for the Portuguese. Andre Silva is Champions League Player of the Week

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Prize for the Portuguese.  Andre Silva is Champions League Player of the Week

BUTndre Silva won the competition and became the best player of the week in the Champions League, informed UEFAthis Thursday.

The former Porto striker scored in Jota’s 3-1 victory over Celtic Leipzig, scoring a brace in a match that was signed after his Portuguese compatriot equalized.

In addition, Andre Silva also provided the assist for Nkunku, scoring the first goal of this Wednesday’s game in which huge show of foreign fans.

In addition to the Leipzig striker, Di Maria (Juventus), Bellingham (Borussia Dortmund) and Di Lorenzo (Napoli) also fought in the fight for the prize, but it was the Portuguese who managed to smile after voting for the third round of the competition, the famous This Thursday is the fair.

Read also: Diogo Costa and Andre Silva named to Champions League Team of the Week

See also: Andre Silva among the nominees for the title of the best player of the week in the Champions League

See also: double dose. Andre Silva returned to celebrate and sentenced doubts

See also: Andre Silva took advantage of Hart’s colossal mistake and responded to Jota’s goal

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Eternal Portuguese deja vu – Renaissance

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Eternal Portuguese deja vu - Renaissance

At the end of the summer of 1972, exactly half a century ago, SEDES – Associação para o Desenvolvimento Económico e Social (the most famous reformist think tank during Marseilles) issued a document for the country entitled “Portugal: The country we are, the country we want to be “. The Marseille spring had already turned into autumn: Américo Thomas had just been re-elected, the colonial war had dragged on, repression had intensified, and an economic crisis was already brewing. Seeing the general frustration, and at the same time willing to go against it, the signatories of CEDES began by asking “Where will we be and how will we be in 1980?” to criticize the obstacles that overshadowed Portugal in the early 1970s.

Among the “problems that are getting worse without a solution”, emigration stood out, indicating the country’s inability to offer better living and working conditions to those who left; the growing inflationary process, reflected in the cost of living; the inevitability of economic integration in Europe when the country is not ready for international commercial competition; “disaggregation of regional economies” with “continuous depopulation of municipalities and regions” within the country; or “deterioration of public administration” when the government fails to promote a “prestigious, moralized, revitalized and efficient public sector”. “No one will have any difficulty,” continued the text, “to add to a new list of urgent questions that seriously endanger national life, about which much has been said and which, year after year, continue to wait for a sufficient solution.” Therefore, “the prevailing feeling in the country” in contemplation of the recent past and present could not but be “annoyance at urgent battles, the need for which was endlessly discussed, at decisions that were changed or postponed, and at rejected goals” or which were not clearly formulated ” .

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Between “untapped resources” and/or “lack of organizational and decision-making capacity” there was “widespread anxiety” stemming from the inevitable observation that “we are very far from the results that we could achieve thanks to the progress of the Portuguese and Portugal”. This was the macro goal of the reformist, humanist and liberalizing technocrats that SEDES brought together. “Ultimately,” they reminded Marcelo Cayetano, “the real obstacle can only be associated with the low political priority of economic and social development in our country.” So, in short, there was an urgent need to “radically change our economic, social and political way of life”, since “a national balance based on general anemia, repression and weakening of various participants” is unsustainable and pernicious.

SEDES did not know that the Estado Novo would fall in April 1974, that democracy would come in 1976, and Europe from the EEC (after EFTA) in 1986 of repression, finally gained the freedom that was discussed between the lines of the 1972 manifesto ., there would be conditions for solving (almost) all economic and social problems of development and cohesion.

Fifty years have passed since this manifesto, and almost the same number has already been in democracy. However, if we compare the above quotes with the Portuguese present, the feeling of deja vu is indescribable. SEDES wondered what the country would be like in 1980 and is wondering today (in its recent study “Ambition: Doubling GDP in 20 Years”) where we will be in 2040. It may be a replay of a sad fate: knowing (some) where to go, but never getting there!

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Algeria interested in Portuguese companies investing in renewable energy – Observer

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Algeria interested in Portuguese companies investing in renewable energy - Observer

Foreign Minister João Gomes Cravinho met this Wednesday with his Algerian counterpart Ramtan Lamamra, who expressed interest in Portuguese companies investing in Algeria’s solar and wind energy.

Speaking with Lusa, João Cravinho also said that for 2023 it was decided to hold a “high-level meeting chaired by the prime ministers” of the two countries, a meeting to be held in Algiers, in addition to the state visit of the President of Algeria. Algeria to Portugal.

The Portuguese foreign minister said today’s visit to Algeria, where he was with Ramtan Lamamra, whom he has known since 2005 when he was ambassador to Lisbon, is “based on old knowledge”, but also a visit to a country that “does not to be a neighbor”, shares “a lot of fears”. “Not being a neighboring country, it almost shares many concerns about the region, the Mediterranean, the European Union’s relationship with Africa and the Arab world. It was important for us to talk about what we can do together as part of the geopolitical and geo-economic transformation,” he explained.

João Cravinho stressed that the issue of Russia’s invasion of Ukraine was a factor “which could not but be the subject of dialogue”, and also added that “geo-economic issues related to energy, renewable energy sources and the opportunities that come with the digital transition” also were on the table.

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“While Algeria is a major exporter of fossil fuels, it is also a country with huge potential in terms of solar and wind energy. We have very qualified companies in these areas, and the Algerian side has expressed interest in [ter] Portuguese investors in these areas,” the minister said.

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The official said that it would be a matter of working with the Portuguese Agency for Investment and Foreign Trade (AICEP), with the Secretary of State for Internationalization, as well as with a sectoral ministry, namely the Ministry of Environment and Climate Change. A “high-level meeting chaired by the prime ministers” of the two countries is scheduled for 2023, a meeting to be held in Algiers, in addition to the Algerian President’s state visit to Portugal.

“We have a very busy calendar between the two countries. Now we will try to organize a mixed commission, where technical specialists from both countries will gather,” he said, stressing that there are “14 legal documents that are practically finalized and will be signed” in 2023.

João Gomes Cravinho was on a visit to Algiers today to assess bilateral relations in the economic sphere, as well as in terms of cooperation, language and culture, and to discuss international issues.

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