Connect with us

Top News

Magic Johnson’s $ 100 million coronavirus stimulus helps

Published

on

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  Portuguese or Brazilian? "The illusion of a common language is nothing more than small talk"

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  Magnitude 3.1 earthquake hits New Jersey 9 years after earthquake

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 historical films will premiere on 29 December.

Published

on

Portuguese historical films will premiere on 29 December.

Method Media Bermuda will present the documentary FABRIC: Portuguese History in Bermuda on Thursday, December 29 at the Underwater Research Institute of Bermuda.

A spokesperson said: “Method Media is proud to bring Bermuda Fabric: Portugal History to Bermuda for its 5th and 6th showing at the Bermuda Underwater Observatory. In November and December 2019, Cloth: A Portuguese Story in Bermuda had four sold-out screenings. Now that Bermuda has reopened after the pandemic, it’s time to bring the film back for at least two screenings.

“There are tickets Ptix.bm For $ 20 – sessions at 15:30 and 18:00. Both screenings will be followed by a short Q&A session.

Director and producer Milton Raboso says, “FABRIC is a definitive account of the Portuguese community in Bermuda and its 151 years of history, but it also places Bermuda, Acors and Portugal in the world history and the events that have fueled those 151 years.

“It took more than 10 years to implement FABRIC. The film was supported by the Minister of Culture, the Government of the Azores and private donors.

Bermuda Media Method [MMB] Created in 2011 by producer Milton Raposo. MMB has created content for a wide range of clients: Bermuda’s new hospital renovation, reinsurance, travel campaigns, international sports and more. MMB pays special attention to artistic, cultural and historical content.

More about

#History of Bermuda #A photo #Portuguese

Model: Everybody, Entertainment, Movies/Movies, History, News

Continue Reading

Top News

CRISTANO RONALDO CAN MAKE UP A GIANT IN CARIOCA AND PORTUGUESE TECHNICIAN SAYS ‘There will be room’

Published

on

CRISTANO RONALDO CAN MAKE UP A GIANT IN CARIOCA AND PORTUGUESE TECHNICIAN SAYS 'There will be room'

News

This is a fact or event of journalistic interest. This may be new or recent information. This also applies to the novelty of an already known situation.

Article

Mostly original text. Expresses the opinion of the author, but not necessarily the opinion of the newspaper. It can be written by journalists or specialists from different fields.

Investigative

A report that contains unknown facts or episodes with a pronounced denunciatory content. This requires special methods and resources.

Content commerce

Editorial content that offers the reader conditions for making purchases.

Analysis

This is the interpretation of the news, taking into account information that goes beyond the facts told. It uses data, brings events and scenario forecasts, as well as past contexts.

Editorial

Analytical text translating the official position of the vehicle in relation to the facts covered.

Sponsored

This is an institutional article on a topic of interest to the company sponsoring the report.

fact checking

Content that confirms the accuracy and authenticity of the disclosed information or facts.

Context

This is an article that brings subsidies, historical data and relevant information to help understand a fact or news.

special

An exciting report that details the various aspects and developments of this topic. It brings data, statistics, historical context, as well as stories of characters that are affected by or directly related to the topic in question.

Criticism

A text with detailed analysis and opinions on products, services and works of art in a wide variety of fields such as literature, music, film and visual arts.

Continue Reading

Top News

Maestro de Braga is the first Portuguese in the National Symphony Orchestra of Cuba.

Published

on

Maestro de Braga is the first Portuguese in the National Symphony Orchestra of Cuba.

Maestro Filipe Cunha, Artistic Director of the Philharmonic Orchestra of Braga, has been invited to conduct the Cuban National Symphony Orchestra, as announced today.

According to a statement sent by O MINHO, “he will be the first Portuguese conductor to conduct this orchestra in its entire history.”

In addition to this orchestra, the maestro will also work with the Lyceo Mozarteum de la Habana Symphony Orchestra.

The concerts will take place on 4 and 12 March 2023 at the National Theater of Cuba in Havana.

In the words of the maestro, quoted in the statement, “these will be very beautiful concerts with difficult but very complex pieces” and therefore he feels “very motivated”.

From the very beginning, Rachmaninoff’s Piano Concerto No. 2 will be performed by an Italian pianist (Luigi Borzillo), whom the maestro wants to bring to Portugal later this year. In the same concert, Mendelshon’s First Symphony will be performed.

Then, at the second concert, in the company of the Mexican clarinetist Angel Zedillo, he will perform the Louis Sfora Concerto No. 2. In this concert, the maestro also conducts Tchaikovsky’s Fifth Symphony.

“This is an international recognition of my work. An invitation that I accept with humility and great responsibility. I was surprised to learn that I would be the first Portuguese member of the Cuban National Symphony Orchestra. This is a very great honor,” the maestro said in a statement.

“I take with me the name of the city of Braga and Portugal with all the responsibility that goes with it, and I hope to do a good job there, leaving a good image and putting on great concerts. These will be very special concerts because, in addition to performing pieces that I love, especially Rachmaninov and Tchaikovsky, I will be directing two wonderful soloists who are also my friends. It will be very beautiful,” concludes Filipe Cunha.

See also  Toy removed from gondola for lack of instructions in Portuguese | Economy

Continue Reading

Trending