Page 1

Jobless rate at 3-year low as payrolls surge The United States created jobs at the fastest pace in nine months in January and the unemployment rate unexpectedly dropped to a near three-year low, giving a boost to President Barack Obama. Page. 4

Edition 29 | February 09 - 15 2012

Why Bank of America is the new Citigroup On a normal day, 4 billion shares of stock change hands on the New York Stock Exchange. One in 10 belongs to a single company. It’s not McDonald’s or IBM, both of which have been on a tear.


Page. 2 Page. 19

As the U.S. government spends an unprecedented amount of money to fix the economy, there is an equally great need to raise the cash to pay for it. This is accomplished through borrowing, whereby Uncle Sam sells Treasury securities of varying maturity. Page. 3

AT&T customers surprised by ‘unlimited data’ limit The Company has 17 million customers with “unlimited data” Page. 5

Ponga su devolución a impuestos a trabajar

CredAbility previene a los consumidores acerca de los anticipos de devolución de impuestos. Page. 6

Meet the Republican Candidates 2012. The United States Hispanic Chamber of Commerce and the award-winning Univision news department, in collaboration with Miami Dade College, were hosting an event for Republican presidential candidates in 2012. “Meet the Candidates” Pages. 10 - 11



nY. Business Latino • Edition 29 | February 09 - 15 2012

High-frequency traders target Bank of America and take investors along for a wild ride

Why Bank of America is the new Citigroup NEW YORK -- On a normal day, 4 billion shares of stock change hands on the New York Stock Exchange. One in 10 belongs to a single company. It’s not McDonald’s or IBM, both of which have been on a tear. It’s Bank of America - bailed out by the government three years ago, reviled for being part of the mortgage frenzy that helped wreck the economy and selling for not much more than an ATM fee. When the market goes up because of positive news about the economy, Bank of America stock shoots up past the stocks of other big banks. When traders get worried about Greek debt, Bank of America takes the biggest plunge. The big swings are not driven by a fundamental bet that the bank will be more profitable because the economy is getting better or a real concern that it will lose more money than others if there is a default in Greece. Instead, Bank of America is the stock of the moment for high-frequency trading, the supercomputerdriven buying and selling that barely existed a few years ago and now accounts for as much as two-thirds of U.S. trading. The bank’s single-digit stock price and flood of shares on the market three times as many as its nearest bigbank competitor - make it an attractive target for hedge funds and banks that employ high-powered, computerized trading. “The movement of Bank of America stock on most days has nothing to do with Bank of America,” says Joseph Saluzzi, co-founder of brokerage firm Themis Trading. In other words, the stock moves because it moves. Bank of America stock has risen or fallen 1 percent or more on 20 days this year. The Standard & Poor’s 500 index has only done it three times. For the year, Bank of America is up 46 percent, best of the 30 stocks that make up the Dow Jones industrial average. Big banks collectively are up 15 percent. In high-frequency trading, investors use computer algorithms to exploit small changes in a stock’s price. If

a computer can seize on a stock like Bank of America a fraction of a se cond faster than the rest of the market, it can book a tiny profit. Those pennies add up over tens of millions of shares a day to produce big gains. And when computers rush to buy or sell a stock like Bank of America, it can result in accelerated moves in the stock price. Buying leads to more buying, selling to more selling. Bank of America is part of the Standard & Poor’s 500, and therefore held in mutual funds in the retirement accounts of millions of Americans. And mutual fund managers hate high-frequency trading. Not only does it make the stocks in their portfolios more volatile, but fund managers fume that high-frequency computers can detect their stock orders, step in to change the price of a stock slightly and pocket a small profit. “It has nothing to do with the fundamentals,” says Leon Cooperman, a billionaire investor, chairman of hedge fund Omega Advisors and former CEO of Goldman Sachs Asset Management. For computers to move in and out quickly, there must be enough shares available to trade. Bank of America has a truckload - 10.5 billion shares outstanding, compared with 3.8 billion for JPMorgan Chase and 2.9 billion for Citigroup. The stock traded as high as $15.31 last year. Then investors, worried about how deep the bank’s mortgage problems might be, drove it below $10 in July. High-frequency traders pounced, and Bank of America’s volume exploded. It was 147 million shares last summer. 477 million shares changed hands. The low price put it in the sweet spot for high-frequency trading. If a highfrequency operation is trading blocks of 100 shares at a time to capitalize on a 1-cent change, there’s a lot less risk working with a $5 stock than a $500 one. It makes Bank of America “a juicy trade at very little risk,” says Adam Sussman, director of research at Tabb Group, a markets advisory firm. In 2009 and 2010, Citigroup, then part-owned by the government, was in the same spot. Its price was in single digits, and it seesawed day to

day. It was often the highest-volume stock - as many as 500 million shares changing hands in one day. Last year, Citi reduced the number of shares by exchanging one share for every 10. That brought its stock price up - $33 on Wednesday - and high-frequency traders stopped flocking to it. Volume on a normal day has dropped to 50 million. Bank of America went the opposite way in November and December and sold 400 million more shares to the market to raise $3.5 billion and improve its financial stability. Some investors - the human ones are buying Bank of America because they like CEO Brian Moynihan’s efforts to shore up the company’s finances. Other investors won’t touch it because they are afraid of the billions Bank of America is still spending to fight mortgage lawsuits. Charles Bobrinskoy, director of research at Ariel Investments, even calls the company

“unanalyzable.” But none of those groups is driving the stock. Some days, it moves with little or no tangible reason. On Jan. 5, the stock jumped 8 percent with no explanation. The Wall Street Journal blogged that the stock was rising on “reports/rumors/ blind hopes” about President Barack Obama appointing a new head to the federal housing agency. On Jan. 10, a Barclays bank analyst lowered his price target on Bank of America stock and Morgan Stanley and Zacks Investment Research downgraded the stock. The stock didn’t fall - it popped up 6 percent more. Analysts say high-frequency trading is partly responsible for the huge daily swings in the market in 2010 and 2011. The technique gained notoriety after May 6, 2010, the day of Wall Street’s “flash crash.” The Dow fell almost 1,000 points in minutes, be-

wildering traders and inciting panic. The market recovered to close down 348 points. High-frequency trading was blamed and attracted scrutiny from regulators. The Securities and Exchange Commission didn’t ultimately blame high-frequency trading for the crash, but said it exacerbated the decline. Regulators haven’t done anything to curb it. Sometimes high-frequency traders don’t even profit from the trade itself. They buy and sell shares at the same price and make money by sending large orders through the exchanges. NYSE, Nasdaq and others want to attract the most traders. So they offer rebates of 20 to 32 cents per 100 shares to traders who send in large orders. On the electronic exchange NYSE Arca, traders who can move 35 million shares pocket a quick $112,000. “Rebates will be the same no matter what the price, so the computers keep trading all day long,” says Keith Bliss, senior vice president at brokerage firm Cuttone & Co. Bank of America says it has no position on high-frequency trading. At some point it could reduce its shares, as Citi did. But the bank is focused on strengthening its finances, the reason it sold more shares in November and December. Bank of America’s chief financial officer, Bruce Thompson, told reporters in January that the bank isn’t likely to buy back stock this year. So for now, those human investors will have to buckle up for the ride.


nY. Business Latino • Edition 29 | February 09 - 15 2012

Biggest Holders of US Government


As the U.S. government spends an unprecedented amount of money to fix the economy, there is an equally great need to raise the cash to pay for it. This is accomplished through borrowing, whereby Uncle Sam sells Treasury securities of varying maturity.

For investors, government bills, notes and bonds are considered safe because they have a guaranteed rate of return, based on faith in future U.S. tax revenues. The government has been partially funding operations via Treasury securities for decades. This borrowing adds to the national debt, which has recently surpassed $15 trillion and is rising every second. The amount of debt is quickly approaching the federal debt ceiling, a legal limit to borrowing that currently stands at $16.4 trillion. Much of that debt is held by private sector, but about 40 percent is held by public entities, including parts of the government. Here’s who owns the most. Foreign countries listed include private and public investors, according to monthly U.S. Treasury data. 1. Federal Reserve and Intragovernmental Holdings U.S. debt holdings: $6.328 trillion That’s right, the biggest single holder of U.S. government debt is inside the United States and includes the Federal Reserve system and other intragovernmental holdings. Of this number, The Fed’s system of banks owns approximately $1.65 trillion in U.S. Treasury securities (as of January 2012), while other U.S. intragovernmental holdings - which include large funds such as the Medicare

Trust Fund and the Social Security Trust Fund - hold the rest. In the monthly Treasury bulletin, both are combined into one category and the total accounts for a stunning $6.328 trillion in holdings as of September 2011 (the most recent number available). The amount is an all-time high as the Federal Reserve continues to expand its balance sheet, partially to purchase U.S. government debt securities. The Social Security Trust fund is required by law to invest in securities where the principal and interest is guaranteed by the Federal government. About a decade ago, the total government holdings were “only” $2.5 trillion. 2. China U.S. debt holdings: $1.132 trillion The largest foreign holder of U.S. Treasury securities, China currently has $1.132 trillion in American debt, although it is down from all time highs of $1.173 trillion in July 2011. For more on China and currency, see CNBC Explains. 3. Other Investors/Savings Bonds U.S. debt holdings $1.107 trillion With the most recent numbers from June 2011, this extremely diverse group includes individuals, government-sponsored enterprises, brokers and dealers, bank personal trusts, estates, savings bonds, corporate and noncorporate businesses for a total of

$1.107 trillion. Although the level of debt held in U.S. savings bonds has remained basically constant since 2000, the broad category of “other” investors has nearly quadrupled since reaching a four-year low in December 2007. 4. Japan debt holdings: $1.038 trillion One of the U.S.’s largest trade partners, Japan is also one of the U.S.’s largest debt holders, currently owning $1.038 trillion in Treasury securities. holdings: $653.5 billion According to the Federal Reserve, mutual funds hold the sixth-largest amount of U.S. debt compared to any other group, although mutual fund holdings have diminished by more than $105 billion since December 2008. Including money market funds, mutual funds and closed-end funds, this group of investments managed about $653.5 billion in U.S. Treasury securities as of June 2011, which are the most recent numbers available. 7. State and Local Governments U.S. debt holdings: $484.4 billion U.S. state and local governments have nearly a half-trillion dollars invested in American debt, according to the Federal Reserve. The level of investment has remained stable since 2006, moving within the range of $484 billion and $576 billion. The current debt holdings, however, rep-

resent the lowest aggregate level for state and local governments since December 2005, when they stood at $481.4 billion. 8. The United Kingdom U.S. debt holdings: $429.4 billion The U.K. currently holds $429.4 billion in U.S. debt, but the country’s investment has fluctuated dramatically during the past two years. Now at its all-time high (and rapidly increasing), British holdings were as low as $55 billion in June 2008.


9. Depository Institutions U.S. debt holdings: $284.5 billion As of June 2011 (the most recent numbers available), the Federal Reserve Board of Governors lists depository institutions as holding about $284.5 billion in U.S. debt. This group includes commercial banks, savings banks and credit unions. In 2011, its holdings more than tripled from the 2008 low of $105 billion. Between June and September 2011, holdings for depository institutions fell by nearly $44 billion.



10. Insurance Companies holdings: $250.1 billion According to the Federal Reserve Board of Governors, insurance companies hold $250.1 billion in Treasury securities. This group includes property-casualty and life insurance firms.




nY. Business Latino • Edition 29 | February 09 - 15 2012

Jobless rate at 3-year low as payrolls surge bonds - a program dubbed QE3 - to drive interest rates lower. It also raised doubts about the Fed’s expectation that it could hold interest rates near zero at least through late 2014. “At the very least this scales back QE3 (quantitative easing) odds. The surprisingly persistent decline in the unemployment rate also calls into question how firmly wedded the Fed is to the late-2014 rate guidance,” said Michael Feroli, an economist at JPMorgan in New York.


The United States created jobs at the fastest pace in nine months in January and the unemployment rate unexpectedly dropped to a near three-year low, giving a boost to President Barack Obama. Nonfarm payrolls jumped 243,000, the Labor Department said, as factory jobs grew by the most in a year. The jobless rate fell to 8.3 percent - the lowest since February 2009 - from 8.5 percent in December. The gain in employment was the largest since April and it far outstripped the 150,000 predicted in a Reuters poll of economists. It hinted at underlying economic strength and lessened chances of further stimulus from the Federal Reserve. “More pistons in the economic engine have begun to fire, pointing to accelerating economic growth. One of the happiest persons reading this job report is President Obama,” said Sung Won Sohn, an economics professor at California State University Channel Islands. The payroll gains were widespread - from retail to temporary help, and from construction to manufacturing - an indication the recovery was becoming more durable. A survey of households showed the unemployment rate declined even as new job seekers flooded into the labor force. Economists had expected

the jobless rate, which has now fallen 0.8 percentage point since August, to hold steady. “I think this is a sign that maybe the economy is reaching that holy grail of a self-sustaining economic expansion,” Stuart Hoffman, chief economist at PNC Financial Services in Pittsburgh, told Reuters Insider. The outlook was further brightened by a separate report showing service sector activity quickened last month to a near one-year high. A gauge of service sector employment touched a six-year high. The fairly upbeat data buoyed stocks on Wall Street, with the tech-heavy Nasdaq Composite index hitting an 11-year high. The Dow Jones industrial average rose to a near four year high, while the Standard & Poor’s index extended its 2012 advance to about 7 percent. U.S. Treasury debt prices tumbled as investors dialed back expectations on Fed easing. The dollar was little changed against a basket of currencies after rising earlier in the session. The employment report contrasted with a fairly glum assessment of the economy offered by the Fed last week. Officials at the central bank have been debating whether to buy more

Interest rate futures indicated that at least some traders were beginning to lay bets the Fed could move interest rates up in early 2014. Fed fund futures were pricing in a 38 percent chance of a January 2014 rate hike, up from 29 percent before the report, and the first better than even chance of a rate hike was in April 2014, according to CME Group, where the contracts are traded. However, economists at most leading Wall Street firms still believe the Fed will undertake another bond-buying program, according to a Reuters poll.

DON’T MUCK IT UP Obama welcomed the strong jobs report and urged Congress to extend a payroll tax cut and benefits for long-term unemployed, which expire at the end of this month.

“Now is not is not the time for selfinflicted wounds to our economy. I want to send a clear message for Congress. Do not slow down the recovery that we are on, don’t muck it up,” he said at a firehouse in Arlington, Virginia.

Republicans acknowledged the improvement in the labor market, but said the jobless rate was still too high. “Our economy still isn’t creating jobs the way it should be and that’s why we need a new approach,” said House Speaker John Boehner. While employment growth has quickened there are no jobs for three out of every four unemployed people and 23.8 million Americans are either out of work or underemployed. The level of employment is still 5.57 million from its pre-recession level. But steady progress is being made. The economy added 60,000 more jobs in November and December than previously reported. In addition, average hourly earnings rose four cents, which should help to support spending. The report suggested that expectations of a slowdown in U.S. economic growth in the first quarter were not yet impacting on companies’ hiring decisions. Employment in the private sector surged 257,000 - the largest gain since April. Government payrolls fell 14,000, the least since September. U.S. economic growth accelerated to a 2.8 percent annual rate in the final three months of 2011, but it was widely expected to slow as businesses ease back on efforts to rebuild inventories and exports slip amid a likely recession in Europe. Some economists cautioned that January’s jobs figures could overstate the pulse of the recovery, citing still lackluster consumer confidence, income and spending growth. While some said the jobless rate could drop below 8 percent by year end, others warned it would likely move up in the near-term as people who had given up the search for a job re-enter the workforce. “For this to mark an upturn in the labor market, then businesses will have to continue to hire on this scale

throughout the winter,” said Kathy Bostjancic, director of macroeconomic analysis at the Conference Board in New York.

CAUTIOUS OPTIMISM The unemployment rate has now declined for five straight months, although part of the drop reflects discouraged Americans giving up the hunt for work. A broad measure of unemployment, which includes people who want to work but have stopped looking and those working only part time but who want more work, slipped to a near three-year low of 15.1 percent in January from 15.2 percent in December. Revisions to the payrolls figures showed 180,000 more jobs were created last year than previously believed. Mild winter weather boosted employment last month in construction, which added 21,000 jobs after a 31,000 increase in December. Manufacturing payrolls surged 50,000, the largest gain in a year, after rising 32,000 the prior month. Overall, the goods-producing sector added 81,000 jobs last month, the most since January 2006. Transportation and warehousing employment increased 13,100 and courier jobs only fell 1,500. Last month, the Labor Department reported a large increase in courier jobs in December, but revisions showed they actually declined. Retail employment rose 10,500 after gaining 6,200 in December. Temporary help services jumped 20,100 after rising 8,300, a potentially good sign for future permanent hiring.


nY. Business Latino • Edition 29 | February 09 - 15 2012

AT&T customers surprised by ‘unlimited data’ limit

Memo to supermarkets and grocers: Better clean up your act!

Pols push for grocery inspections State legislators are proposing a new law that would give Mayor Bloomberg’s health cops the authority to inspect grocery stores and farmers’ markets — much as they do restaurants, The Post has learned.


Mike Trang likes to use his iPhone 4 as a GPS device, helping him get around in his job. Now and then, his younger cousins get ahold of it, and play some YouTube videos and games. But in the past few weeks, there has been none of that, because AT&T Inc. put a virtual wheel clamp on his phone. Web pages wouldn’t load and maps wouldn’t render. Forget about YouTube videos—Trang’s data speeds were reduced to dial-up levels. “It basically makes my phone useless,” said Trang, an Orange County, Calif. property manager. The reason: AT&T considers Trang to be among the top 5 percent of the heaviest cellular data users in his area. Under a new policy, AT&T has

started cutting their data speeds as part of an attempt to manage data usage on its network. So last month, AT&T “throttled” Trang’s iPhone, slowing downloads by roughly 99 percent. That means a Web page that would normally take a second to load instead took almost two minutes. AT&T has some 17 million customers with “unlimited data” plans that can be subject to throttling, representing just under half of its smartphone users. It stopped signing up new customers for those plans in 2010, and warned last year that it would start slowing speeds for people who consume the most data. What’s surprising people like Trang is how little data use it takes to reach that level— sometimes less than AT&T gives people on its “limited” plans. Trang’s iPhone was throttled just two weeks into his billing cycle, after he’d consumed 2.3 gigabytes of data. He pays $30 per month for “unlimited” data. Meanwhile, Dallas-based AT&T now sells a limited, or “tiered,” plan that

37-66 72nd Street Jackson Heights, NY 11372 4 West 43rd Street Ste 421 New York, NY 10036


State Sen. Tony Avella (D-Queens), complaining that there are too few inspectors from the state Agriculture Department, wants the city Health Department to pick up the slack.

provides 3 gigabytes of data for the same price. Users report that if they call the company to ask or complain about the throttling, AT&T customer support representatives suggest they switch to the limited plan. “They’re coaxing you toward the tiered plan,” said Gregory Tallman in Hopatcong, N.J. He hasn’t had his iPhone 4S throttled yet, but he’s gotten text-messages from AT&T, warning that he’s approaching the limit. This came after he had used just 1.5 gigabytes of data in that billing cycle.

But the grocery-store industry had a universal response to the proposal: Hell, no! “I’m opposed. Everything the city does is for revenue generation. The city guys are looking to create more fees than the state guys,” said John Catsimatides, owner of the Gristides supermarket chain. Joseph Rogers, president of the Food Industry Alliance of New York state, said, “If it ain’t broke, don’t fix it.”

“Is protecting our food important? I think it is,” Avella said. “When I had a problem with a supermarket in my district, I had trouble getting inspectors out here to respond.” Avella complained that Agriculture inspectors don’t make any visits after 5 p.m. — and noted that most store sanitary violations occur at night. Under the measure, city health inspectors would enforce the state food-safety code, not the city’s.

Verizon’s measures have drawn few complaints, and indeed, may have gone unnoticed even by the “5 percent.” T-Mobile USA is up front about the level it starts throttling at: 5 gigabytes. AT&T subscribers have no idea if they might be among the top 5 percent until they get the warning, which is soon followed by throttled service. While Trang was throttled at 2.3 gigabytes, he knows other iPhone owners who are using 5 or 6 gigabytes per month with impunity.

Rosemary Carrillo: Publisher | Founder Carlos Velez : Editor in Chief Magela Graffigna : Vice President Comercial Susana Bono : Reporter | Photographer Alfredo Morad: Repoter | Photographer Dora Rubiano: Reporter Eva Chavez: Calendar & Event

Phone: 917-974-0681 Fax: 917-974-0681 |

Organizations National Association Hispanic Publication National Federation of Hispanic Owned Newspapers Hispanic Media Council


This published to inform the public of matters of general interest and give reports of current events, news and comments about editorial published in NY Business Latino is believe to be truthful and accurate. However, the publisher assumes no responsibility whatsoever for typographical errors or omission in the newspaper


Editorial Design | D. Santander



nY. Business Latino • Edition 29 | February 09 - 15 2012

CredAbility previene a los consumidores acerca de los anticipos de devolución de impuestos

Ponga su devolución a impuestos a trabajar

Mimi Alford was terrified in 1998 when the Monica Lewinsky scandal turned the word “intern” into a dirty joke, exposing an affair with a president. Her decades-old secret about her trysts with John F. Kennedy was still safe then.

JFK intern recounts

long-ago affair in new book The two raced rubber ducks in the bathtub; they had multiple sexual encounters, though he never kissed her; when he called her at her college dorm, he would use the code name Michael Carter, she wrote. She was Marion “Mimi” Beardsley when she arrived at the White House press office the summer after her freshman year at Wheaton College in Massachusetts, then an all-girls school.

Un Refund Anticipation Loan (RAL) (Préstamo de devolución anticipada) es un préstamo garantizado de alto costo que tiene como garantía su devolución de impuestos que está pendiente. Típicamente el préstamo se hace de 7 a 14 días y el rango de interés va de 40 a 500% o más. «Los Refund Anticipation Loans casi nunca son buenos para los consumidores,» dijo Marisa Salcines, directora de relaciones externas de CredAbility. «Tienen cargos extremadamente altos y pueden dejar a los consumidores con una buena deuda si su devolución es menor a la esperada.» Hay diferentes opciones para que los consumidores puedan hacer su declaración por Internet sin costo alguno. Pueden preparar y hacer la declaración electrónica de sus impuestos del 2011 gratuitamente en si su ingreso bruto ajustado es de $57,000 o menor. También hay ayuda para preparar y hacer la declaración para las personas que tienen un ingreso bajo o moderado a través del programa Volunteer Income Tax Assistance (VITA). Para localizar el sitio de VITA más cercano, visite www. o llame al 1-800-906-9887. Las personas que utilicen depósito directo pueden recibir su devolución en un período tan corto como de 10 días y sin ningún costo.  Cuando reciba su devolución de impuestos, haga buen uso de ese dinero. «Las devoluciones de impuestos le proporcionan una gran oportunidad a los consumidores para que tomen control de sus finanzas,» dijo Marisa. «Si se utilizan inteligentemente, pueden ayudar a eliminar las deudas, pueden servir como la base para una educación de universidad, o ayudar en la realización del sueño de tener una casa propia.»  Estas son algunas maneras en las que puede darle un propósito a su devolución de impuestos: 

Es muy posible que usted vaya a recibir una devolución de impuestos cuando haga su declaración del 2011. Aun cuando la oportunidad de pedir un anticipo/préstamo de su devolución puede ser muy tentadora, ya sea porque quiere una nueva televisión, o quiere hacer alguna compra grande y piensa que no puede esperar hasta que le envíen su cheque, pedir un anticipo/préstamo de la devolución que espera recibir puede crearle problemas financieros, sobre todo si no puede pagar en la fecha acordada, o si el dinero que recibe es menor al préstamo que tomó. Contribuya o empiece un fondo de emergencia. En este difícil momento en la economía, es más importante que nunca tener ahorros en caso de perder el trabajo o algún otro evento que pueda cambiar su vida. CredAbility le recomienda que tenga $1,000 en un fondo de ahorro de emergencia, así como ahorros para cubrir de tres a seis meses de gastos mensuales en caso de que pierda su trabajo. Su devolución de impuestos es una buena manera de empezar esta cuenta. Poniendo el dinero en una cuenta de ahorros separada o en una cuenta de mercado de valores, será menos probable que lo utilice y estará allí para pagar su hipoteca, renta y otros gastos mensuales en caso de una emergencia. Continúe haciendo pagos regulares de su hipoteca. Muchas personas están manipulando una variedad de deudas, tomando de unas para pagar otras, pero la mayor prioridad es hacer los pagos de su hipoteca antes de pagar otras cuentas. Atrasarse en los pagos de su hipoteca pondrá su casa en riesgo, especialmente en los estados en donde los prestamistas no necesitan utilizar el sistema judicial para embargar una casa. Una devolución de impuestos puede ayudarle a que continúe haciendo estos pagos. Invierta en su retiro. El retiro es costoso y muchos consumidores creen que no están ahorrando adecuadamente para asegurar un retiro cómodo. Ya sea en su 401(k), IRA o Roth IRA, invertir su devolución de impuestos ahora, le proporcionará una seguridad financiera

cuando se retire. Mientras más pronto empiece a ahorrar, más tiempo tendrá su dinero para crecer. Abra un plan 529 de ahorros para la universidad. La educación universitaria no está siendo menos costosa, Con un plan 529 de ahorros para la universidad, los depósitos que haga ahora pueden ser retirados libres de impuestos cuando se utilicen para una educación universitaria. Además, algunos planes tienen beneficios de impuestos. Revise sus excepciones para el próximo año. Aun cuando recibir una devolución de impuestos es agradable, ¿de verdad usted quiere prestarle su dinero al gobierno durante todo el año en lugar de ponerlo a que trabaje para usted? Revise sus excepciones para que le deduzcan menos dinero de su cheque de pago. Después haga arreglos para que el dinero extra sea depositado en una cuenta de ahorros para ayudarlo a pagar sus cuentas o para hacer un fondo de reserva. Si no recibió una devolución de impuestos este año porque fue retenido para pagar ciertas clases de deudas, considere comunicarse con CredAbility, la cual proporciona asesoría confidencial en presupuesto, educación en administración de dinero, programas de administración de deudas y otros servicios para ayudar a los consumidores. Comuníquese con CredAbility al 866.616.3717 o por Internet en www.

Mimi Alford, author of “Once Upon a Secret: My Affair with President John F. Kennedy and its Aftermath,” poses for a photograph, in New York. In her book, she writes of her first encounter as a naive teenager, and her “varied and fun” sex life with Kennedy, who she always called Mr. President

The affair began during her summer internship and continued when she returned to Wheaton in the fall, she wrote. It continued while she dated and until a few months after her engagement to Tony Fahnestock, a senior at Williams. She was deep into wedding preparations when Kennedy was shot.

Outed in a 2003 biography and a New York newspaper account, Alford has learned to tell her story and not be ashamed of it — from the moment she said Kennedy seduced her on her fourth day working at the White House until the affair ended shortly before his death.

Overcome with grief, she confessed the affair to her fiancé. He told her never to breathe a word of it. She promised, fearful that the only alternative was to break off the engagement, and she largely kept the promise, telling only a trusted few. It took years for her to see the connection between her silence about the relationship and “the emotional shutting down” that had blighted much of her life.

In “Once Upon a Secret: My Affair with President John F. Kennedy and its Aftermath,” published last week by Random House, she writes of her first encounter as a naïve teenager, her “varied and fun” sex life with Kennedy, whom she always called Mr. President. The Rumson, N.J., native was 19 and had no sexual experience when she first went to bed with Kennedy in his wife, Jacqueline’s, bedroom. It was June 1962.

“I needed to look at the secret and then look at the impact of having kept the secret for so long,” she said. Mimi and Tony Fahnestock divorced in 1991 and he died in 1993. Alford married again in 2005, to Dick Alford. Her two daughters from her marriage to Fahnestock are in their 40s, are mothers themselves and have supported her decision to write of her experience, she said.

“Short of screaming,” she writes, “I doubt I could have done anything to thwart his intentions.” Nor did she want to thwart his intentions. “I wouldn’t describe what happened that night as making love,” she writes. “But I wouldn’t call it nonconsensual, either.” Addressing people who have questioned the encounter, she said: “I don’t consider it was rape. I have never considered it rape because I was willing.” The relationship continued, even after Alford had become engaged while attending college in suburban Boston, until Kennedy’s 1963 assassination, she wrote.

The book took several years and multiple drafts. Alford supplemented her memory with research at the Kennedy Library, where she found her name on passenger logs from plane trips with Kennedy’s entourage.

nY. Business Latino • Edition 29 | February 09 - 15 2012

“Cocinando un Futuro”

Hispanic Scholarship Fund Partners with Olive Garden for the

Scholarship Program Partnership contributes to Generation 1st Degree, an HSF initiative with the goal of adding more than 14 million new Hispanic college graduates by 2025 SAN FRANCISCO, CA,

The Hispanic Scholarship Fund (HSF) and Olive Garden announced today its partnership through the first-ever “Cocinando un Futuro” scholarship program. Ten talented students have been selected as scholarship recipients due to their exemplary passion for culinary arts and academic achievement. Together, the HSF and Olive Garden collaboration empowers Generation 1st Degree, the national movement to raise the Hispanic degree attainment rate to 60 percent by ensuring that every Latino household has at least one college graduate. “The Hispanic Scholarship Fund is committed to raising awareness among America’s Latino families about the importance of a college education and help them secure the resources they need to earn a college degree,” stated Frank Alvarez, HSF president and CEO. “With the help of Olive Garden through the ‘Cocinando un Futuro’ scholarship program, we are able to bring this commitment to life.” The HSF and Olive Garden “Cocinando un Futuro” scholarship program provides scholarships, up to $2,500 per student, to undergraduate minority students who are enrolled full-time at a U.S. accredited college or university during the 2011-2012 academic year. The students were selected from a highly competitive pool of applicants interested in culinary arts, who met specific criteria that

included attaining a minimum 3.0 GPA on a 4.0 scale, demonstrating personal strengths and leadership and have an unmet financial need requiring support in their efforts to obtain a college degree.

COMMUNITY P 7 Domino’s Pizza recauda $2.4 millones para el St. Jude Children’s Research Hospital El mundialmente reconocido líder en entrega de pizzas, recaudó más de $2.4 millones para St. Jude Children’s Research Hospital durante la campaña Thanks and Giving® 2011 organizada por St. Jude. Con la campaña de este año la cantidad total reunida por Domino’s para St. Jude desde que se anunció esta asociación en el 2004 llega a más $ 12 millones.

“Olive Garden is proud to partner with the Hispanic Scholarship Fund and we’re honored to help award the ‘Cocinando un Futuro’ scholarships to a talented group of students that share our passion for food and hospitality,” said Julio Suárez, director of diversity outreach for Darden Restaurants, Inc., the parent company of Olive Garden. “One of Darden’s priorities as a community partner is to support access to postsecondary education as a way to empower and enable youth to pave their own path to success. The ‘Coninando un Futuro’ program is a perfect way for us to bring this support to the Hispanic community.”

Selected Scholarship Recipients The HSF and Olive Garden are supporting the educational and professional goals of ten talented students with a passion for culinary arts. Michelle Alcantar, California State University-Sacramento, Culinary Arts and Interior Design Santiago Hernandez, St. Philips College, Culinary Arts Jose Martinez, Johnson & Wales University-Charlotte, Culinary Arts and Hospitality Administration Estefani Mata, University of Nevada-Las Vegas, Business Administration and Culinary Arts Brenda Mendoza Ortega, Johnson & Wales UniversityDenver, Culinary Arts and Biochemistry Vennette Perez , Norwalk Community College, Culinary Arts and Hospitality Administration Diego Recinos, Johnson & Wales UniversityFlorida Campus, Culinary Arts Paulina Sanchez, Arizona State University, Hospitality Administration and Foreign Languages/Culture Natalie Shepherd, Sullivan University, Culinary Arts Pablo Uruena, Texas Culinary Academy, Culinary Arts For more information regarding “Cocinando Un Futuro,” visit

IT’S NOT TOO LATE. DONATE $5 BY TEXTING PIZZA TO 50333 “Los locales de Domino’s Pizza de todo el país se unieron a la campaña y lograron reunir una cantidad asombrosa,” dijo J. Patrick Doyle, presidente y ejecutivo en jefe de Domino’s Pizza. “Quiero expresar a todos mi agradecimiento desde el fondo de mi corazón - en especial a nuestros clientes, miembros de equipo y franquiciatarios - que contribuyeron durante la campaña. Juntos pudimos recaudar fondos que apoyan el trabajo de St. Jude en su obra de salvar vidas”. Durante la campaña Thanks and Giving organizada por St. Jude para el 2011 (14 de noviembre 2011 - 6 de enero 2012), los locales de Domino’s de todo el país participaron pidiendo a sus clientes sumar un dólar o más a sus pedidos para ayudar a los niños de St. Jude. Las donaciones se hicieron durante pedidos telefónicos, dentro de los locales o por internet en www. Los clientes también tuvieron la opción de enviar un mensaje de texto con la palabra “PIZZA” al 50333 para donar $5 a St. Jude. Con el apoyo de clientes, locales y franquiciatarios - además de una contribución propia de la compañía Domino’s Pizza recaudó más de $2.4 millones. “Estamos tan agradecidos por el compromiso y la generosidad de

Domino’s y sus clientes quienes, año tras año, han colaborado con la campaña Thanks and Giving de St. Jude para recaudar fondos que son esenciales para la investigación y el tratamiento médico que se lleva a cabo en St. Jude,” dijo Marlo Thomas, la directora de relaciones nacionales de St. Jude. “Gracias al apoyo que recibimos de socios como Domino’s, podemos continuar asegurando que ninguna familia tenga que pagar por el tratamiento médico recibido en St. Jude.” Desde que abrió sus puertas hace 50 años, St. Jude ha desarrollado protocolos que han aumentado las tasas de supervivencia del cáncer  infantil de menos del 20 por ciento al 80 por ciento en la actualidad. De hecho, la tasa de supervivencia para el  cáncer más común entre niños, la leucemia linfoblástica aguda, aumentó de sólo 4 por ciento en 1962 a 94 por ciento en la actualidad. “En poco más de siete años Domino’s ha recaudado más de $12 millones para apoyar los esfuerzos de St. Jude,” señaló Doyle. “Seguimos intensificando nuestros esfuerzos por concientizar a la población y para nosotros es toda una emoción poder tener a St. Jude como nuestro socio nacional caritativo.”



nY. Business Latino • Edition 29 | February 09 - 15 2012

Algunos solicitantes están exentos de tomar el examen en inglés

Cómo prepararse para la entrevista de ciudadanía pasos a continuación ofrecen una idea general sobre cómo está estructurada la entrevista. El orden puede cambiar dependiendo del lugar donde vive el solicitante. Juramento: antes de la entrevista, el oficial pondrá al solicitante bajo juramento Revisión del formulario N-400: el agente de inmigración repasa la información que presentó el solicitante en el formulario y le pregunta sobre sus antecedentes, incluyendo qué países ha visitado, dónde ha vivido y a qué organizaciones ha pertenecido


La entrevista de ciudadanía es uno de los pasos más importantes para convertirse en ciudadano estadounidense. Sin embargo, también puede ser uno de los más estresantes. Esto es debido a que el solicitante debe entrevistarse con un agente federal y además aprobar un examen de inglés y uno de civismo (historia y Gobierno). La mejor manera de reducir el estrés es prepararse bien para la entrevista. A continuación el Gobierno informa sobre las diferentes partes de la entrevista y ofrece algunos recursos y consejos para llegar mejor preparado a la cita. Cómo se estructura la entrevista La entrevista se lleva a cabo en oficinas del Servicio de Ciudadanía e Inmigración de Estados Unidos (USCIS, por su sigla en inglés) localizadas en diferentes partes del país. Los

Examen de inglés: durante la entrevista el oficial evaluará las habilidades del solicitante de hablar inglés y pondrá a prueba sus habilidades de leer y escribir en inglés. Para pasar el examen se debe responder correctamente una de tres preguntas de lectura y escritura Examen de civismo: el examen de civismo consiste en responder correctamente seis de 10 preguntas sobre la historia y el sistema de Gobierno de Estados Unidos Instrucciones finales: el agente da detalles sobre la ceremonia de ciudadanía, el último paso en el proceso de naturalización. En la ceremonia uno jura lealtad al país y recibe su certificado de ciudadanía. Nota: el solicitante tiene dos oportunidades para aprobar los exámenes. En caso de desaprobar en el primer intento, podrá tratar nuevamente entre 60 y 90 días después. Excepciones al examen de inglés Algunos solicitantes están exentos de tomar el examen de inglés si: Tienen por lo menos 50 años al momento de presentar la solicitud y han sido residentes permanentes por 20 años

ANUNCIAN LOS GANADORES EN CINE Y TELEVISIÓN PARA LOS PREMIOS ACE 2012 menina, por “Cartas a Elena” El premio Opera Prima está destinado a Santiago Mitre, de Argentina, por “El Estudiante”;; y en la categoría de Mejor Documental fue seleccionado el aporte de México, “Presunto Culpable”, dirigido por Roberto Hernández y Layda Negrete.

Tienen por lo menos 55 años al momento de presentar la solicitud y han sido residentes permanentes por 15 años Nota: las personas exentas de tomar el examen de inglés deben tomar de cualquier forma el examen de civismo, al menos que soliciten una excepción debido a discapacidad física o trastorno mental.

En la categoría de Televisión, “La Fuerza del Destino”, la producción mexicana de Rosy Ocampo, transmitida en los Estados Unidos por Univisión, recibirá el Premio ACE como Mejor Telenovela, por la que también será reconocida Delia Casanova como Mejor Actriz Característica. Por la Mejor Dirección, el Premio ACE lo recibirá Mónica Miguel por “Teresa”.

Consejos para prepararse para la entrevista USCIS tiene varios recursos para ayudar a los solicitantes a prepararse para la entrevista, incluyendo materiales para el examen de inglés (en inglés) y el examen de civismo. Además, USCIS ofrece varios talleres de naturalización en diferentes partes del país y una sección de recursos comunitarios. Para el día de la entrevista se recomienda: Seguir las instrucciones de la carta de USCIS con los detalles de la entrevista. La carta indica los documentos adicionales que se deben presentar. De no traerlos el proceso se podría demorar Llegar a la entrevista 15 minutos antes del horario indicado para tener suficiente tiempo para pasar por seguridad Contestar honestamente las preguntas del oficial. Mentir durante la entrevista podría resultar en la descalificación de la solicitud Este video muestra un ejemplo de cómo se desarrolla una entrevista. Para aprender más sobre temas relacionados a inmigración y ciudadanía visita, el portal oficial del Gobierno de los Estados Unidos en español, que forma parte de la Administración de Servicios Generales (GSA) de EE. UU.

La Asociación de Cronistas de Espectáculos de Nueva York acaba de dar a conocer los ganadores de los Premios ACE 2012 en las categorías de Cine y Televisión, que serán entregados la noche del 21 de abril en el Kaufman Center, en la céntrica zona neoyorquina de Lincoln Center. Las figura central del tradicional evento anual, que se ha venido realizando sin interrupción desde hace 44 años, será el popular actor de televisión Erik Estrada, nacido en Nueva York de ascendencia puertorriqueña, y también recibirán reconocimientos especiales los cubanos Ismael Cala, Alfredo Munar y Carlos Rodríguez, el español Fernando Trueba la argentina Lilia Veiga, y la peruana Teresa Yenque. En la ronda de votación de Cine, resultó ganadora como Mejor Película “El Infierno”, una sátira sobre la violencia del narcotráfico en México, producción por la que también resultaron ganadores su protagonista masculino, Damián Alcázar, y su director, Luis Estrada. En los apartados de actuación, también fueron proclamados ganadores: Pilar López de Ayala, de España, Mejor Actriz por “Lope”; Eugenio Derbez, de México, Mejor Coactuación Masculina, por “Te Presento a Laura”; y Lorena Velázquez, también de México, Mejor Coactuación Fe-

En los otros apartados de actuación, también recibirán preseas Sebastián Rulli y Angelique Boyer, Mejor Actor y Mejor Actriz, por “Teresa”; Miguel Varoni y Karla Monroig, Mejor Coactuación Masculina y Femenina, por “La Casa de al Lado”; y Hugo Macías Macotela, Mejor Actor Característico, por “Cuando Me Enamoro”. En cuanto a la televisión de Nueva York, serán reconocidos por sus trabajos el puertorriqueño Jorge Ramos, Canal 47 de Telemundo, Locutor Más Destacado; Adriana Vargas, Canal 41 de Univisión, de Colombia, Locutora Más Destacada; Rolman Vergara, del 41, cubano, Reportero Más Destacado; la también cubana Yaima Crespo, del 47, Reportera Más Destacada. Y por otro lado, “Acceso Total”, que conduce Odalys Molina, del Canal 47 de Telemundo; y “Al Depertar”, del Canal 41 de Univisión, que conducen Marijoel Durán y Sandra O’Neill, entre otros, fueron declarados Mejor Programa General y Mejor Programa Informativo, respectivamente. Finalmente, serán distinguidos como Figuras del Año en el Tevecable por la labor que realizaron en 2011 los dominicanos Mayra La Paz y Rafael Brito, ambos del Canal 35 de Time-Warner.


nY. Business Latino • Edition 29 | February 09 - 15 2012

La Coalición de Cámaras de Comercio Hispanas del Estado de Nueva York

This year’s New York Women of Excellence and All Women Fundraising event was focus on raising capital to create “The New York Fund,”

New York Women Of Excellence Women Business Enterprises. This initiative serves as a vehicle to provide needed services and assistance to small businesses, specifically for women and minority enterprises. It will also provide financing to those M/WBE certified firms with government and private procurement contracts.


Maritza Del Toro como nueva directora ejecutiva de la junta del NYSCHCC

Manhattan, NY.- (NYSCHCC, por sus siglas en inglés) llevó a cabo una reunión de enlaces en el famoso nightclub Copacabana, el jueves 26 de enero. El evento tuvo como objetivo presentar a Maritza Del Toro como nueva directora ejecutiva de la junta del NYSCHCC García afirmó que su meta es lograr certificar a mas dueños de negocios latinos, para que como minoría puedan venderle a las grandes corporaciones. “Vamos a meter a más comerciantes hispanos a compañías grandes”, aseguró y dio como ejemplo el caso de ‘Cibao Meat’, propiedad de un dominicano, cuyos productos ahora se venden en ‘Walmart’. “Queremos enseñarle a los comerciantes latinos como tienen que prepararse para que puedan venderle a Johnson y Johnson, por ejemplo”, dijo García.

Algunos de los presidentes de camaras de comercio que forman parte del NYSCHCC. De izquierda a derecha: Alfonso Alvarez, Alejandro Mendoza, Carmen Hernández, Dr. Carlos Avilés, Emiliano Mahomar, Kersee Cruz, Pearl Phillip, Alfredo Arrieta, Frank García y Nestor Díaz.

Visítanos en nuestra Página de internet y actualizate en el mundo de los negocios.



nY. Business Latino • Edition 29 | February 09 - 15 2012


Javier Palomarez, President and CEO of USHCC, Republic Presidential Candidate Mitt Romney, Nina Vaca Chair of the USHCC, Liz Berman USHCC Region 5 Chair, Don Salazar USHCC Region 2 Chair

Meet the Republican Candidates 2012. The United States Hispanic Chamber of Commerce and the award-winning Univision news department, in collaboration with Miami Dade College, were hosting an event for Republican presidential candidates in 2012. “Meet the Candidates” Candidates had the opportunity to speak with reporters from Univision, Jorge Ramos and Maria Elena Salinas of a series of topics - from jobs and the economy to education, health, immigration and international affairs. Univision extended an invitation to all GOP presidential candidates. The audience was composed of Hispanic business leaders and members of the U.S. Hispanic Chamber of Commerce, and members of the community of Miami Dade College.

nY. Business Latino • Edition 29 | February 09 - 15 2012

Eduardo J. Padrón, Ph.D. 



President, Miami Dade College


n American by choice, Eduardo Padrón arrived in the United States as a refugee at the age of 15. Since 1995, he has served as President of Miami Dade College (MDC), the largest institution of higher education in America with more than 174,000 students. An economist by training, Dr. Padrón earned his Ph.D. from the University of Florida. In 2009, TIME magazine included him on the list of “The 10 Best College Presidents.” In 2010, Florida Trend magazine named him “Floridian of the Year.” In 2011, The Washington Post named him one of the eight most influential college presidents in the U.S. Also in 2011, he was awarded the prestigious 2011 Carnegie Corporation Centennial Academic Leadership Award. Padrón’s energetic leadership extends to many of the nation’s leading organizations. He is chair of the board of directors of the American Council on Education (ACE) and is a past chair of the board of the Association of American Colleges and Universities (AAC&U).


nY. Business Latino • Edition 29 | February 09 - 15 2012

Fashion Ford Motor Company se orgullece en apoyar al diseñador dominicano y semi-finalista de Project Runway, Emilio Sosa en su presentación durante la Semana de la Moda (Fashion Week) en Nueva York.

By Paul Lomax Special to DNAinfo Hundreds of fashionistas packed into the Joan Weill Center for Dance in Midtown Friday night to catch a glimpse of the latest dress collection from “Project Runway” star and Washington Heights designer Emilio Sosa — geishainspired glam for Fashion Week. “My collection this year is about strength, spirit, and liberation,” he told DNAinfo. “It’s about being yourself, being free, being proud of what and who you are.”

Sosa drew inspiration for the Fall 2012 collection for his ESOSA line, titled “Urban Geisha,” from classic American sports and Japanese art, highlighting his latest designs with gold leaf artifacts and ancient calligraphy. “I think this collection was both colorful and universal,” said Andrea Poson, 29, of Tribeca, a Broadway actress. “He designs classic outfits for all types of women.” Sosa said he was equally inspired by “Memoirs of Geisha” and the Gershwins’ “Porgy and Bess,” calling the collection, featuring makeup done by MAC stylist Romero Jennings, a “mashup of culture and images.”


nY. Business Latino • Edition 29 | February 09 - 15 2012




nY. Business Latino • Edition 29 | February 09 - 15 2012

So when he takes Facebook public, why would he follow the Wall Street rules?

Facebook founder Mark Zuckerberg turns up at business conventions in a hoodie. “Cocky” is the word used to describe him most often, after “billionaire.” He was Time’s person of the year at 26.

The company is expected to file as early as Wednesday to sell stock on the open market in what will be the most talked-about initial public offering since Google in 2004, maybe since the go-go 1990s. Around the nation, regular investors and IPO watchers are anticipating some kind of twist — perhaps a provision for the 800 million users of Facebook, a company that promotes itself as all about personal connections, to get in on the action. “Pandemonium is what I expect in terms of demand for this stock,” says Scott Sweet, senior managing partner at IPO Boutique, an advisory firm. “I don’t think Wall Street would want to anger Facebook users.” The most successful young technology companies have a history of doing things differently. Google’s IPO prospectus contained a letter from its founders to investors that said the company believed in the motto “Don’t be evil.” Facebook declined to comment, but Reena Aggarwal, a finance professor who has studied IPOs at Georgetown University’s McDonough School of Business, believes Zuckerberg will emulate Google’s philosophy, at least in principle. Founders Larry Page and Sergey Brin wanted an IPO accessible to all investors, and said so in their first regula-

Will Facebook Deliver an IPO Surprise? tory filing. Facebook may say something similar when it files to declare its intention to sell stock publicly. Facebook is expected to raise as much as $10 billion, which will value the company at $75 billion to $100 billion, making it one of the largest IPOs. A stock usually starts trading three to four months after the filing. The highly anticipated filing will reveal how much Facebook intends to raise from the stock market, what it plans to do with the money and details on its own financial performance and future growth prospects. Along with Wall Street investment banks, Google used a Dutch auction, named for a means of selling flowers in Holland, to sell its shares. It took private bids and allowed investors to say how many shares they wanted and what they were willing to pay. The process wasn’t smooth, though, and Google had to slash its expected offer price at the last minute. If you bought at the IPO, for roughly $85 a share, you still did well: Google closed Tuesday at $580. More recently, when it filed for an IPO last June, Groupon, which emails daily deals on products and services to its members, added a letter from its 30-year-old founder, Andrew Mason. “We are unusual and we like it that way,” the letter said. “We want the time people spend with Groupon to be memorable. Life is too short to be a boring company.” It’s almost become conventional for tech companies to include an unconventional letter when they

make their stock market debut. It’s widely expected that Zuckerberg, in the very least measure of showmanship, will write one. But IPO watchers wonder whether there might be a provision specifically designed to give the little-guy investor, even the casual Facebook user who doesn’t invest, a piece of the debut. “There is a feeling that there will be something unique in store for Facebook users,” Aggarwal says. When most companies go public, they let Wall Street investment banks handle everything, with the sweet ground-floor stock price reserved for big institutional investors. But that probably won’t do for Facebook, created in a Harvard University dorm room eight years ago. Or Zuckerberg, whose antiestablishment credentials include spurning a $15 billion takeover offer from Microsoft. Few expect Zuckerberg to offer a Dutch auction because of the Google experience. But he is at least as unorthodox as Google’s founders. People expect him to be in the driver’s seat on Wall Street, rather than hand over the controls to bankers. Facebook is a vital part of people’s Internet lives and the most successful company in the history of social media. Its closest competitor, Google+, has less than a tenth the active membership — 60 million people. “While there is no such thing as untouchable, Facebook is getting near there, with even Google imitating it,” says Sweet, of IPO Boutique.

In “really hot IPOs,” 90 percent of the shares go to institutional investors and 10 percent to everyday investors, Sweet says. It’s a perk for the banks’ biggest clients, like Fidelity Investments or T. Rowe Price or hedge funds.

popular IPO, I’ve been hoping that Facebook would use this opportunity to try a new method to bring in retail investors — a public offer where shares are set aside for only individual investors,” Sherman says.

The funds pay big commissions to the banks for regularly trading large blocks of stocks or bonds. Those relationships are deep and long-lasting — and lucrative for the banks. The funds expect to be rewarded.

But Zuckerberg will also probably be careful how he plays his cards. He doesn’t want to anger Facebook users, but his primary goal is to raise money.

But Morgan Stanley and Goldman Sachs, the banks expected to guide the Facebook IPO, are in an awkward place: They don’t want to tick off 800 million Facebook users — but they don’t want to tick off Fidelity, either. Most IPOs are underpriced, and the stock usually shoots up the first day. Lucky large investors get the basement price and usually a big payday if they sell on the first day. Smaller investors buy on the open market, after the price has spiked, and pay more. And most early investors do sell. One university research paper found that about 70 percent of the new stock changes hands in the first two days. Groupon introduced 35 million shares, but on the first day its shares were traded almost 50 million times. Ann Sherman, associate professor and IPO expert at DePaul University, raised the possibility that Facebook could set aside a portion of its shares for the small investor and use a lottery system if there is a lot of demand. She says the U.S. is the only country without IPO rules that put traditional investors on an equal footing. “Given that this is such a huge and

The recent experience of Groupon’s faltering IPO holds tough lessons for young entrepreneurs. After analysts started questioning its accounting, Groupon had to amend its regulatory filing several times. Trying to salvage the IPO, founder Mason shed his trademark jeans and T-shirt and donned a suit. He dropped the irreverent talk and spoke about the company’s growth prospects at the IPO “roadshow” to impress investors. Other companies have encountered problems when they went public and tried to reward customers. Upstart Internet phone company Vonage wanted to give customers a chance to buy up to 15 percent of its 31 million shares at its IPO at $17 apiece. But when the shares fell 13 percent on the first day of trading, many of its small investors that had put in orders to buy didn’t want to pay the offer price. It gained the dubious title of one of the worst IPOs that year, something Facebook wants to avoid. It’s also more expensive to sell shares to many people. When thousands of small investors want to buy in, it becomes a logistical nightmare to make sure each investor gets a prospectus with all the important information.

Edition 24 | September 01 - 07 nY. Business Latino • Edition 29 | February 092011 - 15 2012

AD P15 19





En este mundo diferente, en constante movimiento atrévete a un cambio Integral; somos la plataforma para tu éxito personal y empresarial, al alcance de todos, donde los anhelos están integrados en un solo objetivo. Manejamos la información de cierta manera que concientizamos a la sociedad sobre nuestro medio ambiente, al ser una revista 100% ecológica y en tu idioma, tratando temas de interés sociales como salud, bienestar familiar, ecología, éxito personal, bienestar financiero, actividades sociales, entre otras.

Alcanza una mejor calidad de vida para ti, tu familia y tu negocio, únete a nosotros en nuestras 4 ediciones del año, suscríbete en nuestro sitio web para obtener tu revista de forma trimestral. INTEGRAL USA INC. Contacto: 596 Court Street,Brooklyn, NY 11377 Tel: 347 665 7626



Palabras Martinianas con entera vigencia

159 Aniversario del nacimiento de José Martí

Dos peligros tiene la idea socialista, el de las lecturas extranjerizantes, confusas e incompletas, y el de la soberbia y rabia disimulada de los ambiciosos, que para ir levantándose en el mundo, empiezan por fingirse, por tener hombres en qué alzarse, frenéticos defensores de los desamparados. “Es de veras tenebroso ese edificio venidero que se asemeja al de los peruanos antes de la conquista y al de la Galia, cuando la decadencia romana, épocas en que el ciudadano lo recibía todo del Estado en compensación del trabajo que para el Estado hacía. De siervo de sí mismo, pasaría el hombre a ser siervo del Estado.

bien de todos. ¡Alcémonos, es la palabra de orden en estas horas cruciales de Cuba, a formar a formar filas, a unirnos todos los cubanos para la reconquista de la patria. La patria necesita sacrificios, es ara y no pedestal, se le sirve, pero no se le toma para servirse de ella. La fraternidad no es una concesión, es un deber. La Masonería no es más que una forma activa del pensamiento liberal. “Odiar es quitarse derechos”. “Respetar es ya un derecho a vencer”.

nY. Business Latino • Edition 29 | February 09 - 15 2012 Apertura del evento por Gerardo Gonzålez, presidente de la Junta Patriótica Cubana, junto a él, el Señor Jorge González, organizador del acto. Foto por Alfredo Morad El Señor Mario Llossas, con un mensaje sobre el 159 aniversario del nacimiento de José Martí. Foto por Alfredo Morad.

El Señor Fausto Rodríguez con mensaje a los cubanos durante el acto. Foto por Alfredo Morad

Varios invitados al acto de la Junta Patrótica Cubana celebrando el aniversario del nacimiento de José Martí. Foto por Alfredo Morad

En el acto de la celebración del Mes de la Herencia Hispana, el senador estatal, José Peralta, líder comunitario de Corona, Queens, durante el homenaje al Sr. Agustín Rojas, la Señora Juana y el periodista Alfredo Morad. Foto por Alfredo Morad

“Se exhiben los débiles. Los fuertes se prueban”.

Esclavo es aquel que trabaja para otro que tiene dominio sobre él y en ese sistema socialista, dominaría la comunidad al hombre, que a la comunidad entregaría todo su trabajo. ¡Alcémonos, alcémonos para que algún día tengan tumbas nuestros hijos, el acto alrededor de la celebración del Mes de la Herencia Hispana, el senador estatal, José y En pongamos de la estrella líder comunitario de Corona, Queens, durante el homenaje al Sr. Agustín enPeralta, la bandera nueva, esta fórmula del Rojas, la Señora Juana y el periodista Alfredo Morad. Foto por Alfredo Morad. amor triunfante: Con todos, y para el

El Señor Fausto Rodríguez , la Señora Juana Ciriaco, presidente de Fedomusde y el Señor Rómulo Espaillat. Foto por Alfredo Morad.

En el acto de la celebración del Mes de la Herencia

En el acto de la celebración del Mes de la Herencia Hispana, durante el homenaje al Hispana, durante el homenaje al Sr. Agustín Rojas, la Sr. Agustín Rojas, la Señora Juana y el líder comunitario Rómulo Espaillat. Foto por Señora Juana y el líder comunitario Rómulo Espaillat. Alfredo Morad.

Foto por Alfredo Morad.

Farmacias Latinas cerca de Ud. Estamos para servirle

90-12 Elmhurst Ave. Jackson Heights, NY Tel. (718) 424-0533

88-31 37th Ave. Jackson Heights, NY Tel. (718) 651-7400

101-19 39th Ave. Corona, NY 11369 Tel. (347) 649-2525

39-20 29th St. Long Island City, NY 11101 (718) 937-8160

Legal notice

nY. Business Latino • Edition 29 | February 09 - 15 2012

SUPPLEMENTAL SUMMONS. Index No. 1391/2011. STATE OF NEW YORK. SUPREME COURT – COUNTY OF QUEENS. U.S. BANK NATIONAL ASSOCIATION, AS TRUSTEE, FOR GSR MORTGAGE LOAN TRUST 2006-5F, Plaintiff, -vs.MIGUEL H. SEGOVIA, if living and if he be dead, and all persons who are wives, lienors, heirs, devisees, distributes, successors in interest of such of them as may be dead, and their husbands and wives, heirs, devisees, distributes, and successors in interest all of whom and whose names and places are unknown to Plaintiff; ORFA N. VASQUEZ; CITY OF ENVIRONMENTAL CONTROL BOARD; UNITED STATES OF AMERICA; “JOHN DOE” AND “JANE DOE” said names being fictitious, it being the intention of Plaintiff to designate any and all occupants of premises being foreclosed herein, Defendants. Mortgaged Premises: 94-31 86th Avenue, Woodhaven, N.Y. 11421. TO THE ABOVE NAMED DEFENDANT(S): YOU ARE HEREBY SUMMONED to answer the Complaint in the above entitled action and to serve a copy of your Answer on the plaintiff’s attorney within twenty (20) days after the service of this Summons, exclusive of the day of

service, or within thirty (30) days after completion of service where service is made in any other manner than by personal delivery within the State. The United States of America, if designated as a defendant in this action, may answer or appear within sixty (60) days of service hereof. In case of your failure to appear or answer, judgment will be taken against you by default for the relief demanded in the Complaint. In the event that there is a deficiency in the sale proceeds, a deficiency judgment may be entered against you. That this action is being amended to correct the name of the defendants to add the possible heirs of MIGUEL H. SEGOVIA as a necessary party to the action, as he cannot be located. NOTICE YOU ARE IN DANGER OF LOSING YOUR HOME. If you do not respond to this summons and complaint by serving a copy of the answer on the attorney for the mortgage company who filed this foreclosure proceeding against you and filing the answer with court, a default judgment may be entered and you can lose your home. Speak to an attorney or go to the court where your case is pending for further information on how to answer the summons and protect your property. Sending a payment to your mortgage company will not stop this foreclosure action.

YOU MUST RESPOND BY SERVING A COPY OF THE ANSWER ON THE ATTORNEY FOR THE PLAINTIFF (MORTGAGE COMPANY) AND FILING THE ANSWER WITH THE COURT. QUEENS County is designated as the place of trial. The basis of venue is the location of the mortgaged premises. Dated: December 21, 2011, /s/, Mark K. Broyles, Esq. FEIN, SUCH & CRANE, LLP Attorneys for Plaintiff Office and P.O. Address 28 East Main Street Suite 1800 Rochester, New York 14614 Telephone No. (585) 2327400 (DISTRICT: , SECTION: , BLOCK: 8887, LOT: 31). NATURE AND OBJECT OF THE ACTION. The object of the above action is to foreclose a mortgage held by the Plaintiff recorded in the County of QUEENS, State of New York on April 25, 2006, in CRFN 2006000229484, said mortgage was then assigned by Mortgage Electronic Registration Systems, Inc., as nominee for Griffin Mortgage Corporation to Griffin Mortgage Corporation by virtue of a GAP Assignment of Mortgage, executed January 13, 2011, and sent to the County for recording on January 17, 2011, which mortgage was further assigned to Mortgage Electronic Registration

Systems, Inc., as nominee for IndyMac Bank, F.S.B. by virtue of an Assignment of Mortgage, recorded in the QUEENS County Clerk’s Office on August 8, 2006, in CRFN 2006000447527, which mortgage was further assigned to the Plaintiff by virtue of an Assignment of Mortgage, executed on January 13, 2011, and sent to the County for recording on January 17, 2011. TO THE DEFENDANT, except MIGUEL H. SEGOVIA, the plaintiff makes no personal claim against you in this action. To the above named defendants: The foregoing summons is served upon you by publication pursuant to an order of the Hon. Jaime A. Rios, a Justice of the Supreme Court of the State of N.Y., dated January 27, 2012 and filed along with the supporting papers in the Queens County Clerk’s Office. This is an action to foreclose a mortgage. The premises is described as follows: Beginning at the point on the northerly side of 86th Avenue (formerly Elmwood Street) distant 170 feet westerly from the corner formed by intersection of the westerly side of 96th Street (formerly Willard Avenue) with the northerly side of 86th Avenue; being a plot 100 feet by 40 feet by 100 feet by 40 feet. Premises known as 94-31 86th Avenue, Woodhaven, N.Y. 11421.


Tax Deadline Extended to April 17 The Internal Revenue Service opened the 2012 tax filing season by announcing that taxpayers have until April 17 to file their tax returns. The IRS encourages taxpayers to e-file as it is the best way to ensure accurate tax returns and get faster refunds. This includes new navigation features and helpful information on and a new pilot to allow taxpayers to use interactive video to get help with tax issues. “The IRS works hard every day not only to process hundreds of millions of individual tax returns each year, but it is also our goal to make filing a tax return easier for all taxpayers.” Said Joe Munoz , spokesman for the IRS. Taxpayers will have until Tuesday, April 17 to file their 2011 tax returns and pay any tax due because April 15 falls on a Sunday, and Emancipation Day, a holiday observed in the District of Columbia, falls this year on Monday, April 16. According to federal law, District of Columbia holidays impact tax deadlines in the same way that federal holidays do; therefore, all taxpayers will have two extra days to file this year. Taxpayers requesting an extension will have until Oct. 15 to file their 2011 tax returns.

auto E l N u e v o


nY. Business Latino • Edition 29 | February 09 - 15 2012

El nuevo Ford Fusion es el primer sedán que ofrece trenes motrices a gasolina, híbrido y de conexión, cada uno con la esperada mejor economía de combustible, el sobresaliente compromiso de Ford de dar a los clientes el poder de elegir.

Brinda Más Tecnología, la Esperada Triple Corona de Mejor en Su Clase en Gasolina, Híbrido, Eficiencia en Conexión

tor suelta el pedal del freno, ayudando al Fusion a reducir el consumo de combustible y las emisiones por aproximadamente 3.5 por ciento.

Con siete tecnologías que es esencial tener, incluyendo un Sistema de Conservación de Carril, control adaptable de crucero, asistencia activa para estacionar y MyFord Touch®, el flamante Ford Fusion muestra cómo Ford está brindando características que los clientes realmente desean y valoran.

El Fusion cuida de usted El flamante Fusion ofrece un portafolio sin precedentes de asistencia al conductor y tecnologías de conveniencia con base en sensores, cámaras y radar, que habilitan al auto para ver y responder.

Los clientes pueden elegir en el portafolio más amplio del Fusion de opciones de tren motriz con eficiencia de combustible, incluyendo los motores EcoBoost®, híbrido e híbrido de conexión; ofertas de transmisión automática y manual, y tecnología de arranque-paro automático.

Asistencia activa para estacionar: Empleando sensores, esta tecnología puede identificar un espacio paralelo conveniente para estacionar, calcular la trayectoria, y dirigir el auto para posicionarlo adecuadamente dentro del espacio. Todo lo que el conductor necesita hacer es operar los pedales del acelerador y el freno.

Revelado en Norteamérica como el sedán Fusion mediano, este flamante auto señala el Ford-Mondeo de la siguiente generación para los mercados mundiales. El flamante Fusion de Ford trae a la vida la siguiente generación de vehículos más expresivos de Ford, y es el primer sedán que ofrece versiones

Ford Motor Company’s President and CEO Alan Mulally shares a roundtable with Social Media Influencers at the Ford exhibition space. #FordNAIAS

a gasolina, híbrido y de conexión – se espera que cada uno brinde la mejor economía de combustible y una atractiva experiencia de manejo. “Nuestra visión para el Fusion fue clara – brindar lo mejor que significa ‘One Ford’”, dijo Derrick Kuzak, vicepresidente de grupo de Desarrollo Global de Productos. “Reunimos a nuestros equipos globales en torno a una pizarra en blanco, con el encargo de desarrollar un auto mediano de diseño innovador y economía de combustible asombrosa – que presentara tecnologías para ayudar a convertir a nuestros clientes en conductores más seguros y mejores. Este auto es el resultado.” El Fusion se revela en Norteamérica en S, SE y serie de Titanio de primer lugar, y apunta hacia el siguiente Ford Mondeo para los mercados mundiales. Eficiencia del combustible de triple corona El Fusion Híbrido – El Auto Norteam-

ericano del Año en 2010 – continúa innovando y evolucionando con flamantes baterías de iones de litio que ahorran peso y generan más potencia que las baterías anteriores de hidruro de níquel, al tiempo que incrementan la velocidad máxima bajo potencia eléctrica solamente, de 47 mph a 62 mph. El Fusion Híbrido también presenta un motor a gasolina Atkinson de 2.0 litros y cuatro cilindros, reducido significativamente más que la unidad anterior de 2.5 litros, pero manteniendo los estándares de rendimiento. Se anticipa que este innovador tren motriz brinde la mejor economía del combustible en su clase, de 47 mpg en la ciudad y 44 mpg en carretera. La economía de combustible del Fusion Híbrido se sitúa para superar al Toyota Camry Híbrido 2012 por 4 mpg en la ciudad y 5 mpg en carretera, y al Hyundai Sonata Híbrido 2011 por 12 mpg y 4 mpg, respectivamente.

En la cima de la escala de eficiencia de combustible, está el Fusion Energi híbrido de conexión, que apunta a ser el auto mediano de mayor eficiencia de combustible en el mundo. El Fusion Energi llega este otoño y se anticipa que brinde más de 100 MPGe, una equivalencia de una milla por galón para vehículos electrificados. Esto es 8 MPGe más que el Chevrolet Volt y 13

MPGe más que la eficiencia proyectada del modelo híbrido de conexión Toyota Prius. El Fusion de siguiente generación de 1.6 litros es el primer producto Ford de transmisión automática que se ofrece con un sistema de arranque y paro automático. Apaga el motor suavemente cuando el auto está parado, y vuelve a arrancar suavemente cuando el conduc-

Sistema de Información sobre Punto Ciego (BLIS®, del inglés Blind Spot Information System) con alerta de cruce de tráfico: Los sensores en ambos paneles del cuarto posterior del Fusion pueden detectar tráfico en un punto ciego del conductor, proporcionando advertencias audibles y visuales si detectan tráfico – no visible para el conductor. La tecnología BLIS habilita la alerta de cruce de tráfico, advirtiendo al conductor sobre tráfico que se acerca al salir en reversa de un espacio para estacionar con la vista obstruida, como cuando se está entre dos camionetas grandes. El poder de la voz El flamante Fusion ofrece la más reciente versión del sistema de comunicaciones y entretenimiento SYNC® de Ford, premiado y exclusivo en la industria, que habilita la comunicación activada por voz por medio de un teléfono móvil del conductor e interacción con el sistema de audio del auto. La quietud interior del Fusion alcanza un nuevo nivel con corazas acústicas bajo la carrocería y material absorbente del sonido que ahorra peso; ambos minimizan el ruido del camino y del tren motriz, y aumentan la eficiencia aerodinámica para ayudar a ahorrar combustible. El flamante modelo agrega contenido, como un sello en todo el perímetro del cofre, para estar entre los líderes del segmento de sedanes medianos en proporcionar un recorrido silencioso a los conductores. El Fusion se producirá en la planta de manufactura de Ford en Hermosillo, México, agregando producción pronto en la Planta AutoAlliance International de Flat Rock, Mich. El auto aparecerá en las salas de exhibición de Ford en Norte y Sudamérica más adelante en este año. El Mondeo se presentará el próximo año en Asia y Europa.


nY. Business Latino • Edition 29 | February 09 - 15 2012

UNITED STATES HISPANIC USHCC aplaude el compromiso de AT&T con la inclusión de los hispanos

WASHINGTON, La Cámara de Comercio Hispana de Estados Unidos (United States Hispanic Chamber of Commerce, USHCC) premia a AT&T, quien obtuvo la calificación más alta del Corporate Inclusion Index, edición 2011, de la Asociación Hispana para Responsabilidad Corporativa (Hispanic Association on Corporate Responsibility, HACR). El índice califica las prácticas en materia de diversidad e inclusión de los hispanos en las áreas de fuerza laboral, compras, filantropía y políticas directivas. AT&T fue una de las dos compañías – y la única compañía de telecomunicaciones a nivel nacional – en recibir una calificación de 95, la más elevada del índice de la HACR de este año. «El compromiso ejemplar de AT&T en cuanto a promover la diversidad de talentos dentro de la estructura corporativa, con un equipo de autoridades que incluye un CEO hispano y un hispano en la junta directiva, demuestra que la compañía entiende que la comunidad hispana es clave para el éxito sostenido de nuestro país como fuerza global competitiva», dice Nina Vaca, Presidenta de la USHCC. Entre los miles de grandes proveedores de AT&T en todo el mundo, se encuentran una cantidad de importantes compañías de Estados Unidos de propiedad de hispanos y miembros de la USHCC: Argent & Associates, Group O, Pinnacle Technical Resources y MasTech, entre otras muchas. En el año 2011, Argent & Associates y Pinnacle Technical Resources fueron dos de tan solo siete proveedores de todo el mundo en ganar el AT&T Global Supplier Award (Premio Global al Proveedor). «Este reconocimiento a AT&T por parte de HACR reafirma la consolidada posición de la compañía como líder en temas de diversidad, principalmente, en lo que se refiere a hispanos», dice Javier Palomarez, CEO y Presidente de USHCC. «Nuestras Empresas Hispanas (Hispanic Business Enterprises, HBE) lo han experimentado de primera mano, beneficiándose con oportunidades de compras con AT&T. Nuevamente, esta compañía demuestra que no solo hace lo correcto, sino que comprende que la diversidad es también un negocio inteligente». Palomarez señala a la creciente población hispana –actualmente, el 16% de la población de EE.UU. – una importante estadística para que las corporaciones tengan en mente en tiempos en que las compañías enfrentan el desafío de estructurar sus cargos jerárquicos

CHAMBER OF COMMERCE ment levels among Hispanics, as well as all Americans, remains at the forefront of our concern. It is clear that Congress and the Administration will need to enhance opportunities for small businesses and industries, to get America back to pre-recession levels of employment.”

para que reflejen la riqueza de la diversidad en Estados Unidos. «La USHCC felicita a AT&T por hacer de la diversidad parte de sus mejores prácticas, y esperamos con ansiedad el continuo compromiso en este importante segmento de la estrategia comercial de la compañía», añadió Palomarez. En tanto prestigioso miembro de Billion Dollar Roundtable, un premio logrado por quienes gastan más de US$1,000 millones con proveedores de empresas de propiedad de mujeres o grupos minoritarios, el compromiso de AT&T para con la diversidad hispana e inclusión también incluye:

Un 12 por ciento de representación de hispanos en la fuerza laboral de AT&T. El Galardonado Grupo de Recursos para Empleados, HACEMOS (la Asociación de Empleados Hispanos/Latinos de AT&T). Un programa de diversidad de primer nivel en materia de diversidad de proveedores que gastó más de US$9,200 millones con proveedores de grupos minoritarios, de mujeres y veteranos discapacitados en el año 2010. Gran énfasis en el Mercado Hispano de Consumo, que incluye convertir a más de 700 tiendas minoristas en mercados hispanos de alta densidad – que incluyen a California, Florida, Nueva York y Texas – en un formato bilingüe (español/inglés). Una fuerte inversión publicitaria en medios hispanos. Apoyo a la comunidad hispana  invirtiendo recursos para impulsar la educación, fortalecer las comunidades y mejorar sus vidas. En el año 2010, AT&T aportó más de US$148 millones a las comunidades de la diversidad a la que da servicio mediante programas corporativos, de los empleados y de la AT&T Foundation. Importante representación de los hispanos en los lugares más senior de la compañía que incluye a Ralph de la Vega, presidente y CEO de Mercados de Movilidad y Consumo de AT&T; Thaddeus Arroyo, director general de informática; Jose Gutierrez, presidente de publicidad y publicaciones; Carmen Nava, vicepresidenta senior de Marketing de Consumo; Angie Wiskocil, vicepresidenta senior de servicios Wi-Fi, y Jaime Chico Pardo, de la Junta Directiva de AT&T.


ISSUES STATEMENT ON JANUARY JOBS REPORT President & CEO of the United States Hispanic Chamber of Commerce, Javier Palomarez, today issued the folloing statement after the release of the January jobs report: About the United States Hispanic Chamber of Commerce Founded in 1979, the USHCC actively promotes the economic growth and development of Hispanic entrepreneurs and represents the interests of nearly 3 million Hispanic-owned businesses in the United States that

combined generate in excess of $420 billion annually. It also serves as the umbrella organization for more than 200 local Hispanic chambers and business associations in the United States and Puerto Rico. For more information, visit “Today’s report indicates that 243,000 jobs were added to the U.S. job market in January. The unemployment rate among Hispanics dropped 0.5 percentage points to 10.5% (down 1.5% from January 2011). While encouraging, restoring healthy employ-

USHCC TO HONOR CHIEF EXECUTIVE OF GIRL SCOUTS OF THE USA ANNA MARIA CHÁVEZ AT 2012 LEGISLATIVE SUMMIT WASHINGTON, D.C. The United States Hispanic Chamber of Commerce (USHCC) today announced that Girl Scouts of the USA (GSUSA) Chief Executive Officer Anna Maria Chávez will be honored with the 2012 Chairman’s Award at “A Celebration of Women Entrepreneurship in America” during the USHCC Legislative Summit gala. The Summit will take place in Washington, D.C., on March 21-23, 2012, at the Washington Marriott at Metro Center. The annual gala honors the impact of Hispanic businesswomen in America and features high-profile leaders and attendees including Chávez, who will receive the coveted Chairman’s Award. “The annual Chairman’s Award is presented to an individual who stands out as a leading advocate of Hispanic entrepreneurship in America,” says USHCC Board Chairman Nina Vaca. “Through her work with the Girl Scouts, the nation’s largest organization for girls, Anna Maria Chávez is a true inspiration for young women in America and continues to help shape tomorrow’s leaders through innovative and supportive programs.” A Girl Scout alumna and lifetime member, Chávez has dedicated her career to public service and has emerged as a passionate spokesperson for issues important to girls and their growth and development.

“I am deeply honored to accept the USHCC’s 2012 Chairman’s Award,” says Chávez. “I am especially honored because entrepreneurship and financial literacy skills are essential components of the Girl Scout experience. The Girl Scout Cookie Program alone is the largest girl-led business in the country providing immeasurable benefits to girls and their communities. We reach girls from every sector of society and empower them to realize their full potential as leaders—as young women who have the courage and confidence to make our world a better place. I look forward to a future in which our young girls will be standing in my place for their remarkable and meaningful achievements.” The Girl Scout Cookie Program, which generates more than $750 million in sales, teaches girls five essential business skills: goal setting, decision making, money management, people skills and business ethics. The program reaches more than 2.3 million Girl Scouts in every zip code in the country. Girl Scouts also has experienced a substantial increase in the number of Hispanic girl and adult members. Over the last decade, membership among Hispanic girls has increased by more than 50 percent. Today, the iconic organization has nearly 325,000 Hispanic Girl Scouts and adult volunteers.

“The USHCC looks forward to presenting this award to Ms. Chávez,” says USHCC President and CEO Javier Palomarez. “She is an admired role model and American leader who deserves to be recognized for her work in the community and with such a strong and growing segment of the population – our young girls.” The Legislative Summit is a signature annual event hosted by the USHCC that provides a platform for business owners and chamber leaders from across the country to advocate for critical issues that impact their businesses and industries. Through this annual event, the USHCC offers an unparalleled opportunity to meet, discuss and join forces with business leaders, corporate executives, legislative and regulatory experts, and top elected and government officials. The Summit includes the Legislative Summit Opening Reception, Federal Procurement Business Matchmaking, and the Celebration of Women Entrepreneurship in America. Other events include a number of focused workshops dedicated to pertinent topics such as Improving Access to Capital, America’s Energy Future, U.S. Leadership in the Global Food Economy, and other key issues relevant to business. Registered attendees will have the opportunity to participate in meetings on the Hill with key legislators. For more information, please visit

P20 economia

contigo beach ad-8.5x11 bleed:Layout 1



4:59 PM

Page 1

nY. Business Latino • Edition 29 | February 09 - 15 2012

businesslatino newspaper NYC  
businesslatino newspaper NYC  

businesslatino newspaper NYC