Latinos play a key role in economic growth as their buying power jumped to more than $1.7 trillion, according to a report from the University of Georgia. In 2020, the census pointed out a drastic national spike, with Latinos making up more than half of the population’s growth.
Their buying power is a driving force in economics as they reach closer to nearly $2 trillion, according to US Hispanic Market Report. READ MORE AT NBC10 NEWS
Families led by Black or Hispanic adults are less likely to be invested in the stock market, compared to those led by white adults, according to the latest Pew research. About 61% percent of white U.S. households own some stock, compared to 28% of Hispanic households. READ MORE AT YAHOO FINANCE
Veteran Energy Industry Leader to Continue Utility's Successful Track Record of Delivering Reliable, Affordable and Clean Energy to More Than Four Million Illinois Customers.
CHICAGO (October 14, 2021) — ComEd today announced Gil C. Quiniones will become CEO of ComEd, effective Nov. 15, 2021. Quiniones, who has served as president and CEO of the New York Power Authority (NYPA) for the past 10 years, will report to Calvin Butler, CEO of Exelon Utilities, who also has been serving as interim CEO of ComEd since Oct. 1, 2021.
Quiniones is a proven industry executive with more than 30 years of relevant leadership and operational experience extending across regulated utility markets, the public and private sectors, and state and local governments. For the past decade, he has been the CEO of the nation's largest state-owned public power organization. He is an internationally recognized leader in modernizing power grids, and delivering clean, safe and affordable energy for customers, leading to economic and environmental benefits for diverse communities.
"Gil is an experienced electric utility leader, with a proven ability to deliver world-class performance for customers and strengthen and uplift communities, including in urban areas, making him ideally suited to be the CEO of ComEd," said Butler. "In addition, Gil is a high-integrity leader who is focused on ethics, equity and doing what is best for our diverse customers, communities and employees. We are confident that, under his leadership, ComEd will continue to be recognized as one of the cleanest, most reliable and most affordable utilities in America."
"It's an honor to be named CEO of ComEd, and I look forward to working closely with Calvin and the entire utility management team to lead this nationally recognized energy company," Quiniones said. "I share ComEd's vision for a clean and resilient energy future that benefits customers and communities across northern Illinois and commit to continuing ComEd's legacy of local partnership with and investment in the communities it is privileged to serve."
John R. Koelmel, chair, NYPA Board of Trustees, said, "Gil is an outstanding person as well as a tremendous leader. Over his tenure at NYPA, the combination of his passion, vision, industry knowledge and business acumen has positioned us as an industry leader. He has fostered a strong internal culture based on excellence, integrity and safety and has created positive relationships with the many customers and communities we serve. We wish Gil every success as he assumes his new leadership role with ComEd."
About Gil C. Quiniones:
Quiniones has served as president and CEO of NYPA, the nation's largest state-owned public power organization, since 2011. Prior to this role, he served as COO and executive vice president, Energy Marketing and Corporate Affairs. Before joining NYPA in 2007, Quiniones spent four years at the New York City Economic Development Corporation, where he served as senior vice president and the principal energy adviser to Mayor Michael R. Bloomberg. Prior to this, Quiniones worked for 13 years at the Consolidated Edison Company of New York, a regulated electric and gas utility, and ConEdison Solutions, the utility's unregulated energy services subsidiary. He was a co-founder and managing director of Energy Services at the subsidiary, where he led profitable revenue growth.
Quiniones has served as chair of GridWise Alliance; a board member of Emera Inc.; chair and board member of the Electric Power Research Institute, where he rejoined the board in April 2021; chair and chair emeritus of the Alliance to Save Energy; chair-elect of the Smart Electric Power Alliance and vice chair of the New York State Energy Research and Development Authority; a board member of the Large Public Power Council; and a member of the Electricity Subsector Coordinating Council and the International Energy Agency's Global Commission for Urgent Action on Energy Efficiency. Quiniones plans to resign from all current board memberships in order to devote his full attention to his ComEd duties. He holds a B.S. from De La Salle University in Manila. In 2020, he earned a Corporate Director Certificate at Harvard Business School.
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Commonwealth Edison Company (ComEd) is a unit of Chicago-based Exelon Corporation (NASDAQ: EXC), the nation’s leading competitive energy provider, with approximately 10 million customers. ComEd provides service to approximately 4 million customers across northern Illinois, or 70 percent of the state’s population. For more information visit ComEd.com, and connect with the company on Facebook, Twitter, Instagram and YouTube.
Florida is one of the many states in the U.S. whose name is Spanish in origin. “La Florida” which can be translated to mean “the flowering” references the beautiful flowers that grow and blossom here. Florida’s name is not the only mark that Hispanic people have left on the state, especially South Florida.
Although the arrival of Spanish-speaking people came long before the 1930s, most Hispanic contributions can be traced to large immigration groups of Cubans, Venezuelans and Nicaraguans. READ MORE AT THE CURRENT
A new study finds that both the labor market and the broader economy will become increasingly anchored by a young, dynamic population of Latino workers — a finding that has implications for everything from employers’ investment decisions to local economic diversification, to the functioning of critical social safety net programs.
According to the 2021 U.S. Latino GDP Report, Latinos have contributed close to three-quarters of the entire labor force expansion that has taken place since the Great Recession. READ MORE AT NBC NEWS
After losing 66 percent of their household wealth in the Great Recession, Latino homeowners could now be poised to lead the country's economic recovery.
Latinos have increased their homeownership rate for six consecutive years, according to a 2020 report from the National Association of Hispanic Real Estate Professionals. READ MORE AT NBC NEWS
Hispanics accounted for over half of the nation’s population growth in the last decade. This is not just reflected in larger cities, but in mountain towns, Southern neighborhoods and Midwestern prairies.
“The Latino population has been dispersing across the United States for years — a reflection of where the nation’s population is moving and where opportunities are located,” said Mark Hugo Lopez, director of race and ethnicity research at the Pew Research Center. READ MORE AT NBC NEWS
Program assists nearly 100 businesses in building financial capacity, securing federal loan assistance
CHICAGO (September 10, 2021) – CTA’s Red and Purple Modernization (RPM) Project, the largest transit investment in the agency’s history, today announced the milestone of securing $5 million in federal loans in 2020-2021 for local small businesses as part of the CTA Building Small Businesses (BSB) Program.
The BSB Program, launched in 2019, was developed to provide financial guidance to small businesses and other Disadvantaged Business Enterprises (DBEs) by offering direct loan placement and other supports so they can demonstrate the up-front capital needed to compete on large-scale transportation construction and capital programs.
CTA provided technical and funding assistance to about 100 small businesses during 2020-2021, an incredibly unpredictable and unprecedented time for DBEs. In direct response to financial hardships brought on by the pandemic, the project expanded to include assistance to companies applying for federal CARES Act loans, helping secure $5 million for these businesses.
The program was created through a partnership between the CTA, RPM contractor Walsh-Fluor Design-Build Team, and the Local Initiatives Support Corporation (LISC Chicago). The program consists of free capacity-building workshops for small businesses that are certified as DBEs or that are interested in becoming DBE-certified.
Unlike other programs, BSB offers both one on one financial capacity assessments and technical assistance, helping more minority businesses get through the impact of COVID-19 by securing PPP loans, or by teaching the businesses best practices that could help a small, minority-owned vendors build technical acumen and capacity to bid on future RPM or CTA contracting opportunities. Instrumental in providing these services through the program are Suzanne Arkle, CEO of Zann and Associates and Darrick Brown, President of ABF Consulting Group, both businesses contracted through Walsh-Fluor.
“CTA is proud to help small, minority-owned businesses with becoming better able to grow and compete for contracts on projects like the Red and Purple Modernization Project,” said CTA President Dorval Carter, Jr. “By removing barriers to opportunities, we’re investing in our communities and our cities, increasing economic equity in our city."
Here are some of the businesses’ stories on how CTA’s BSB program helped them secure funds, were awarded a contract to work on RPM Phase One and/or were able to take advantage of new business opportunities:
Allstate Concrete Cutting is an MBE/DBE-certified concrete cutting and coring business led by its owner, Mike Seay. In 2009, Seay purchased Allstate on the cusp of bankruptcy, with only one truck and two saws. Seay has grown the business to 14 trucks and 10 saws with about 15 employees over the past 12 years. Seay attended Walsh-Fluor’s Lunch and Learn series as part of the BSB Program, providing him with tools and resources to continue to grow his business successfully. Walsh-Fluor and CTA ultimately awarded Allstate a contract to work on RPM Phase One, providing concrete coring, concrete wall cutting and saw-cutting for the project.
AMS Elite Solutions is a WBE/DBE-certified construction hauling and material supplier company led by founder Julie Savitt. Savitt started AMS Elite Solutions in 2016 with only one truck, and has since grown her business to have 12 trucks and additional equipment. Interested in learning how to build financial capacity for the business, Savitt attended a BSB Program event where she received mentoring and the opportunity to network with industry professionals. Ultimately, she bid on and was awarded a RPM contact to provide trucking and aggregate hauling services. Additionally, the BSB Program assisted Savitt in securing CARES Act funding for her business during the pandemic.
Paniagua Group is an MBE/DBE-certified contractor specializing in carpentry, demolition for interiors, construction clean up, painting and flooring. Founder Al Paniagua is a second-generation Latin-American, born from parents who immigrated to the United States from Mexico. Paniagua has been in business for 27 years, employing between 25 and 70 people at a time. Trying to grow his business over the years, he was denied loans because of work unpredictability and limited assets. Then the pandemic hit, and Paniagua feared it would be the end of his business. As a firm believer in networking, Paniagua explored the BSB Program, which mentored him and helped him obtain a 15-year, low-interest loan. BSB Program contacts also assisted him in securing CARES Act funding to help him through the pandemic, and facilitated an introduction to Walsh Construction’s healthcare division – an area of construction where Paniagua group continues to obtain work.
Trevor Development, Inc. is a 40-year-old MBE/DBE-certified contractor that specializes in residential interior construction and commercial build-outs. Its founder, Anthony Copeland, attended one of the BSB Program’s virtual workshops to build financial capacity, which provided him with a one-on-one session with a lender that assisted Trevor Development in securing funding through the CARES Act, helping the business through the pandemic.
Smelly Fresh LLC is a janitorial cleaning services company founded in 2014 by Steve James, a former attorney inspired by an incident when a cleaning crew failed to show up to his friend’s restaurant. He offered to clean the restaurant and his friend offered him a contract. James grew his business from seven to 95 clients, and his participation in the BSB program led to bidding on and being awarded a contract on the RPM project to clean project offices.
“Working with this team gave us a lot of confidence that we can do this work and have the capacity,” said Julie Savitt, President of AMS Elite Solutions. “I’m very thankful for the mentoring and support.”
Following the success of the Walsh-Fluor and RPM Phase One BSB Program, CTA decided to implement an authority-wide program which is now in the process of procuring a team to continue administering the program on the whole-system scale.
The CTA BSB Program was also one of many diversity initiatives cited in the July 2021 Outstanding Public Transportation System Award and the Outstanding Public Transportation Manager Award, from the American Public Transportation Association (APTA) – the highest honors in the North American public transportation industry. The system award recognizes the CTA’s unprecedented modernization and diversity and inclusion efforts in 2020 to provide service during the Covid-19 pandemic, which impacted every transit agency in the nation.
The CTA BSB Program was created through a partnership between the CTA, RPM contractor Walsh-Fluor Design-Build Team and the Local Initiatives Support Corporation (LISC Chicago). For more information about RPM Phase One’s SBE/DBE development efforts and opportunities, go to transitchicago.com/rpm/small-businesses.
City Colleges of Chicago-Harold Washington College's president, Dr. Daniel Lopez PhD will be one of five alumni inducted into the College of Education at Illinois State University Illinois State's Hall of Fame on Friday, October 15.
Dr. Lopez has over twenty-five years of experience in higher education. As a leader, he has provided comprehensive academic support services to students, developed educational programming, and has led many student affairs units. He has created safe spaces for undocumented students and been a role model for many students of color. He is a member of the Latino Alumni Network at Illinois State, the Illinois Latino Council on Higher Education, the Diversifying Faculty in Illinois graduate fellowship, and the Latin United Housing Association. READ MORE
Hispanic Latinos are the fastest growing population in the United States accounting for roughly 18% — 60.6 million — of the nation's total population. Latinos continue to contribute to American culture as musicians, small business owners, chefs, veterans and many other professions.
Hispanic Heritage Month, which runs from Sept. 15 to Oct. 15, honors the contributions that Hispanic and Latino Americans have made to U.S. society and the fabric of its culture. READ MORE AT NBC WASHINGTON
Maybe you first heard about National Hispanic Heritage Month from a friend or scrolled across an informational post about it on social media. You're familiar with the celebratory month, but if you had to take a pop quiz on the subject? Let's just say... you probably wouldn't walk out with an A+.
These facts about National Hispanic Heritage Month will not only deepen your knowledge of this celebration, but enrich your life overall. READ MORE AT WOMEN'S HEALTH
Outdoor enthusiasts want people of color to embrace activities like hiking, biking, kayaking, camping and birding — and feel safe while enjoying it all.
Why it matters: A national reckoning has drawn attention to the discrimination some people of color face during a run in the mountains or a walk on a trail. The outdoors can be deadly due to bigotry, not just wildlife, lurking in the woods. READ MORE AT AXIOS
The numbers of long awaited 2020 U.S. Census is out. The national survey on population, housing, education and racial make-up of the U.S. population shows we are more diverse than ever. Nearly 25 million people nationally reported they identified with two or more races, that’s a 275% increase from 2010. READ MORE AT CBS8
Chicago’s Black population is at its lowest point in more than 60 years, according to 2020 census data released Thursday. While the pace of Black population loss slowed over the past decade, the number of Chicago’s Black residents dipped to about 788,000 in 2020, according to the census data. That’s the lowest it’s been since before 1960. Latinos are now the city’s second-largest racial or ethnic group, growing by 5% — from roughly 779,000 in 2010 to nearly 820,000 in 2020. READ MORE AT WBEZ
Latinos drove the country’s demographic growth, shooting up to 62.1 million, the Census Bureau announced Thursday. One of the biggest findings is the big growth in Latinos who identified as more than one race, while the number of Hispanics who identified as white dropped significantly. READ MORE AT CNBC NEWS
San Antonio’s Black and Latino college students are significantly more likely to avoid taking out student loans because they’re afraid they won’t be able to pay them back.
In a survey Texas Public Radio sent to students currently or recently enrolled in one of San Antonio’s public institutions of higher education, Hispanic students were just as likely as white students to take out loans. But the reasons they didn’t take out loans varied depending on their race and ethnicity. READ MORE AT TEXAS PUBLIC RADIO
The numbers speak for themselves. Latinas have to work for nearly two years to make what white men make in a year, earning only $0.55 to every dollar a white man earns. Black women make $0.62 per $1 made by a white man, and Native American women make $0.57.
The pay disparity that Latinas face has barely improved over the last 30 years. But these Latina money experts are done waiting. READ MORE AT NEXT ADVISOR
SupplyHive™, an innovative provider of Supplier Performance Management Technology, announced today that it closed $2 million in seed funding by securing investors who believe in the power of diversity and inclusion: led by LOUD Capital with co-investors Revolution’s Rise of the Rest Seed Fund and Cleveland Avenue-CAST US.
“Capital from this funding will allow the company to reach the next level of scale and impact by growing our sales and marketing resources and furthering product development and integrations,” says SupplyHive™ CEO and President Lou Sandoval. “We can expand our strong list of clients that include some of the FORTUNE 100’s most enviable brands.”
Sandoval added that “SupplyHive’s™ SPM solution offers much-needed transparency to companies’ efforts on DEI and ESG by creating pathways to identify ways to help suppliers grow. In doing this, it fosters inclusion that helps large corporations be better partners to diversity and all their suppliers.” READ MORE AT CISION
The proliferation of financial fraud in the form of scams is undeniable. Federal data show the highest ever year-over-year rise in fraud reports between 2019 and 2020, and we know that scams are severely under-reported. We also know that when consumers are aware of specific scams, they are far less likely to engage with them, and far less likely still to lose money or sensitive information. READ MORE AT AARP
Hundreds of thousands of Latinas dropped out of the workforce over the past year. They were not just temporarily unemployed — they were forced to completely leave the labor market due to a safety net that often proved inaccessible and inequitable during the pandemic. READ MORE AT CALMATTERS
