|Wednesday, July 23, 2008 • Volume 4, Issue #303||Home||Research||Magazine||Contact Us|
|Top Stories||Complimentary Hispanic Business subscription|
Clean technology grew in strength in the United States as increasing amounts of venture capital flowed into the sector in the second quarter of 2008, a new study has shown.
In response to a controversial bill that would have exposed the lack of investment in minority organizations, ten of California's largest foundations recently proposed a multimillion-dollar, multi-year investment in the minority community. Assemblyman Joe Coto, who authored the legislation, was pleased by the proposal and followed the announcement by dropping his bill. Hispanic Business magazine reported in May that less than 1.2 percent of grants by foundations that assist minorities go to Hispanic nonprofits.
On Friday, after most businesses had shut their doors for the weekend, the United States Office of Thrift Supervision shut the doors forever on a $32 billion bank. IndyMac Bank's specialty revolved around "Alt-A" mortgage loans, a strategy that backfired as the housing market turned. In a statement, the OTS pointed to a letter sent--and released to the public--by United States Senator Charles Schumer as the catalyst for "the immediate cause of the closing."
The number of Hispanic-owned businesses in the United States is expected to grow 41.8 percent in the next six years to 4.3 million, with total revenues surging 39 percent to more than $539 billion, according to new estimates by HispanTelligence. Spurred by growing entrepreneurial trends and affluence among the nation's largest minority population, the increase is expected to come at a robust rate of 8.5 and 8.7 percent, respectfully, over the next couple years.
For more than two decades, the annual Hispanic Business 500 directory has served as a barometer of the U.S. Hispanic economy. A purchase of the 2007 directory provides the top 500 Hispanic-owned companies list in Excel format including: CEO names; company addresses and telephone numbers; e-mail addresses for 375 companies and Web addresses for 430 companies; and company revenue and employees numbers for 2005 and 2006.
|From the current issue of Hispanic Business magazine...|
The Hispanic Businesses 500, which contains some of the nation's most dynamic and well-established firms, saw a worrisome 0.6 percent decline in total revenues in 2007. A review of the 2007 economic accomplishments of the 500 largest Hispanic companies suggests that Wall Street's failings were significantly impacting Main Street in 2007.
This year, for the first time, Hispanic Business magazine is tracking the top Hispanic-owned 'green' businesses, while keeping a finger on the pulse of this rapidly evolving industry. Of the Hispanic Business 500 companies, at least 13 are significantly involved with environmental restoration, cleanup, engineering, or management of some other type of green enterprise.
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