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Business/Minorities Conference
DATE=1/14/99A CONFERENCE OPENED IN NEW YORK TO INCREASE OPPORTUNITIES IN BUSINESS FOR BLACKS AND OTHER AMERICAN MINORITIES.
THE "WALL STREET PROJECT" WAS FOUNDED BY THE REVEREND JESSE JACKSON, THE AMERICAN CIVIL RIGHTS LEADER. ITS GOAL IS TO RAISE AWARENESS AMONG BOTH MINORITIES AND CORPORATE EXECUTIVES OF UNTAPPED OPPORTUNITIES. MR. JACKSON SAYS THE USE OF THE WORDS "WALL STREET" IS SYMBOLIC OF ECONOMIC POSSIBILITY.
THERE IS MONEY BEHIND THE "WALL." THERE ARE MARKETS BEHIND THE "WALL." THERE IS TALENT BEHIND THE "WALL." TO CONNECT OUR TRADING PARTNERS IN CORPORATE AMERICA WITH "WALL STREET" IS PART OF OUR WORK. WE USE "WALL STREET" NOT JUST AS WALL STREET PROPER BUT AS A SYMBOL OF OUR CAPITAL DEVELOPMENT.
THE TWO-DAY CONFERENCE FEATURED NUMEROUS SEMINARS ON SUCH TOPICS AS MINORITY PENSION FUND MANAGEMENT, RACIAL DIVERSITY ON CORPORATE BOARDS OF DIRECTORS AND DOING BUSINESS WITH AFRICA. THOSE ATTENDING INCLUDED MANY AFRICAN-AMERICAN BUSINESS LEADERS, U-S CORPORATE EXECUTIVES AND SEVERAL TOP U-S GOVERNMENT OFFICIALS INCLUDING PRESIDENT CLINTON WHO WAS SCHEDULED TO DELIVER THE KEYNOTE ADDRESS.
JESSE JACKSON BELIEVES THERE ARE HUGE AMOUNTS OF POTENTIAL INVESTMENT CAPITAL AVAILABLE IN EVEN LOWER INCOME MINORITY COMMUNITIES IN THE UNITED STATES. BUT HE SAYS, FOR THE MOST PART, IT IS STILL ONLY POTENTIAL.
LAST YEAR IN ONE LOWER, MIDDLE INCOME NEIGHBORHOOD IN CHICAGO, THEY SPENT 70 MILLION DOLLARS ON THE LOTTERY. IF THEY HAD THE CAPACITY TO MARSHALL THAT MONEY FOR THE STOCK MARKET, THEY COULD HAVE GROWN (INCREASED) IT. OUR CHALLENGE IS TO EDUCATE PEOPLE ABOUT THE DIFFERENCES BETWEEN THE LOTTERY AND THE MARKET. SOME FEEL EMBOLDENED BY THE LOTTERY AND SCARED OF THE MARKET.
MR. JACKSON SAYS THE "WALL STREET PROJECT" WILL HELP EDUCATE MINORITIES ABOUT THE WAY FINANCIAL MARKETS WORK. ONE AMBITIOUS PROGRAM INVOLVES ORGANIZING INVESTMENT CLUBS AT ONE THOUSAND AFRICAN-AMERICAN CHURCHES. THE CLUBS ALLOW EVEN VERY LOW INCOME PEOPLE TO PARTICIPATE IN THE STOCK MARKET.
14-Jan-99
Source: Voice of America
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