| Progress Report October 26, 2012 |
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1. Problems That Need Fixing: Our friend Dr. Thomas Danny Boston has written a concise article about the problems with minority business programs. We find him on target and agree that time is of the essence to begin to remove these barriers and end manipulation and discrimination completely. A good read!
2. Dividend Taxes May Rise: Have You Joined The Fight To Stop A Tax Hike? Time Is Running Out! The National Black Chamber of Commerce has joined the Defend My Dividend campaign in calling on lawmakers in Washington to stop a dividend tax hike for all taxpayers. Capped at 15 percent today, current dividend tax rates will expire on December 31 unless Congress and President Obama act before the end of this year to extend them. Raising dividend tax rates will hurt seniors, will impact millions of other Americans, and will jeopardize our nation’s still-struggling economy. Now is not the time to penalize Americans who invest by raising their tax rates on dividends. Take action today! Visit www.DefendMyDividend.org/NBCC to learn more. Please ask your family, friends, and customers to join the fight too! 3. Multi-Billion Dollar Wind Project: Legacy Pathways, a National Economic, Diversity and Workforce Development Consulting Firm, is working with Wendell Holland, Esq., the former Chairman of the Pennsylvania Public Utility Commission, to compile a preferred list of MBE/WBE/DsBE firms who would like to participate in a multi-billion dollar wind project. This opportunity is time sensitive. If interested, please RSVP by Monday, October 29, 2012 by clicking this link https://www.surveymonkey.com/s/energysupplierdiversityopportunity. 4. Say it isn’t so Wells Fargo: The California Reinvestment Coalition has made serious claims against banking giant Wells Fargo: “Bank Payday Lending: Wells Fargo sells a payday loan called the Deferred Deposit Advance. They charge a 180% annual percent rate. They lure customers into a debt trap that can last six months or even longer. After five months, customers have already paid more in fees than they ever borrowed. The OCC has stated that “banks should not use products to take advantage of their customers.” CRC thinks Wells Fargo Bank is exploiting their customers with this product and should stop immediately. If you agree, please tell the Comptroller of the Currency today! Payday to the Military: Congress passed a 2006 law prohibiting lenders from offering members of the military consumer loans with annual percentage rates of greater than 36% APR. Wells Fargo is using a loophole in Department of Defense regulations to continue payday lending to men and women in uniform. If you think this is wrong, tell the Comptroller of the Currency today!” Contact the CRC via This e-mail address is being protected from spambots. You need JavaScript enabled to view it . 5. PanAfrican Entrepreneurs Conference: You have 6 more days (October 31) to make your hotel reservation for the Four Seasons Hotel in Houston at the price of $155 or $175 per night. After that the rate will at least double! Avoid disappointment, place a call now to the hotel 800-734-4114 or online go to http://panafricanec.org/?page_id=166. The hotel is offering a 20% discount on some spa services. What a deal!
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