As a new decade launched with the New Year, a general consensus among forecasters about the economic recovery emerged suggesting: "the worst may be behind us, but real growth not likely until 2011." So reads the subhead to Juan Solana's "Economic Outlook" story in this issue.
The main problem facing the recovery hinges on the general belief among forecasters that unemployment is not likely to abate until 2011. Small business has been responsible for 64 percent of net new job creation in the past 15 years. But lending and credit, as nearly everyone knows, is difficult to obtain, especially for small business.
The role of bank regulators in creating barriers to small business bank lending and credit extension certainly merits hearings by the Senate and House small business committees.
It is indeed remarkable that given the breadth and depth of the recession the federal government, particularly the executive and legislative branches, have yet to focus substantive stimulus attention on Main Street economic development. Instead the trillions of bailout stimulus have gone to the wealthiest sectors of the economy. No doubt about it, lobbying matters.
This issue also offers coverage of a monumental project occurring every 10 years, the taking of the national census. Our quarterly diversity report includes a primer on why the 2010 census matters. Fifteen billion dollars were allocated to the 2010 census project. We learn in the census article how the federal economic pie is allocated according to population counts. We already know the country's diversity numbers are increasing. But to learn more about why the census matters, and how budget allocations all come together, read all about the 2010 census in the pages ahead.
At the heart of this issue is our annual "Corporate Elite" story, presenting some of the most senior level Hispanic executives in Corporate America.
Accompanying the "Corporate Elite" story is coverage of Hispanic board room presence. While the corporate elite has grown over the years we've been covering the story, the Hispanic presence in the board room has not. Th e number of Hispanics serving on corporate boards has remained pretty static over the years. Th is should change as more middle managers gradually rise and become corporate officers. Every year there are more Hispanic elected officials, more county and state- wide senior governmental managers. We even see more senior managers in the ranks of higher educational management.
But the big story of our time is the economic recovery. The recession has been so pervasive that it has changed the face of America. So we plan to stay focused on it, both in these pages as well as on HispanicBusiness.com. Join the discussion . . .
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