viernes, 8 de octubre de 2010
Luxury Real Estate Projects Are Reactivated in Mexico
Luxury real estate projects are reactivated
06/10/2010 07:49
Mexico. The real estate developments suspended in 2008 in areas such as Paseo de la Reforma, Santa Fe or in the Historic Centre – Alameda corridor, resumed works since the banking system reactive mortgage lending, reported President of the Mexican Association of Real Estate Professionals (AMPI) of Mexico City, Alejandro Kuri Pheres.
For AMPI other factors that will trigger the 'resurrection' of these projects, which are added to the good news, is the new Law of Urban Development, that allows the construction and/or rental of housing, services or businesses in wasted areas of the city that have improper land use, 'but this doesn’t necessary depends on political whims.
The completion of the cadastre update program will allow the secretariats of Urban Development and Housing, Finance, Works and Services, Environment and Economic Development to have the details of each lot, block or place of the city, and give legal certainty to investors regarding whether the project to be develop is viable, thereby 'minimizing the risk of losing their money.'
Another action that will boost the real estate sector is the digitization of Public Property Register, for 'legal certainty is given for each of real estate transactions in the city, which for years was the corruption focus of inefficiency and where large-scale fraud hatched by falsifying deeds,' said AMPI.
In the issue, currently has an advance of 40% of the deeds that have more movement, which reduced the number of people who daily came to this offices, from 1500 and the goal is to reach 100, so that 90% will be made via the Internet from their own notaries.
06/10/2010 07:49
Mexico. The real estate developments suspended in 2008 in areas such as Paseo de la Reforma, Santa Fe or in the Historic Centre – Alameda corridor, resumed works since the banking system reactive mortgage lending, reported President of the Mexican Association of Real Estate Professionals (AMPI) of Mexico City, Alejandro Kuri Pheres.
For AMPI other factors that will trigger the 'resurrection' of these projects, which are added to the good news, is the new Law of Urban Development, that allows the construction and/or rental of housing, services or businesses in wasted areas of the city that have improper land use, 'but this doesn’t necessary depends on political whims.
The completion of the cadastre update program will allow the secretariats of Urban Development and Housing, Finance, Works and Services, Environment and Economic Development to have the details of each lot, block or place of the city, and give legal certainty to investors regarding whether the project to be develop is viable, thereby 'minimizing the risk of losing their money.'
Another action that will boost the real estate sector is the digitization of Public Property Register, for 'legal certainty is given for each of real estate transactions in the city, which for years was the corruption focus of inefficiency and where large-scale fraud hatched by falsifying deeds,' said AMPI.
In the issue, currently has an advance of 40% of the deeds that have more movement, which reduced the number of people who daily came to this offices, from 1500 and the goal is to reach 100, so that 90% will be made via the Internet from their own notaries.
Luxury Real Estate Projects are Reactivated In Mexico
Luxury real estate projects are reactivated
06/10/2010 07:49
Mexico. The real estate developments suspended in 2008 in areas such as Paseo de la Reforma, Santa Fe or in the Historic Centre – Alameda corridor, resumed works since the banking system reactive mortgage lending, reported President of the Mexican Association of Real Estate Professionals (AMPI) of Mexico City, Alejandro Kuri Pheres.
For AMPI other factors that will trigger the 'resurrection' of these projects, which are added to the good news, is the new Law of Urban Development, that allows the construction and/or rental of housing, services or businesses in wasted areas of the city that have improper land use, 'but this doesn’t necessary depends on political whims.
The completion of the cadastre update program will allow the secretariats of Urban Development and Housing, Finance, Works and Services, Environment and Economic Development to have the details of each lot, block or place of the city, and give legal certainty to investors regarding whether the project to be develop is viable, thereby 'minimizing the risk of losing their money.'
Another action that will boost the real estate sector is the digitization of Public Property Register, for 'legal certainty is given for each of real estate transactions in the city, which for years was the corruption focus of inefficiency and where large-scale fraud hatched by falsifying deeds,' said AMPI.
In the issue, currently has an advance of 40% of the deeds that have more movement, which reduced the number of people who daily came to this offices, from 1500 and the goal is to reach 100, so that 90% will be made via the Internet from their own notaries.
06/10/2010 07:49
Mexico. The real estate developments suspended in 2008 in areas such as Paseo de la Reforma, Santa Fe or in the Historic Centre – Alameda corridor, resumed works since the banking system reactive mortgage lending, reported President of the Mexican Association of Real Estate Professionals (AMPI) of Mexico City, Alejandro Kuri Pheres.
For AMPI other factors that will trigger the 'resurrection' of these projects, which are added to the good news, is the new Law of Urban Development, that allows the construction and/or rental of housing, services or businesses in wasted areas of the city that have improper land use, 'but this doesn’t necessary depends on political whims.
The completion of the cadastre update program will allow the secretariats of Urban Development and Housing, Finance, Works and Services, Environment and Economic Development to have the details of each lot, block or place of the city, and give legal certainty to investors regarding whether the project to be develop is viable, thereby 'minimizing the risk of losing their money.'
Another action that will boost the real estate sector is the digitization of Public Property Register, for 'legal certainty is given for each of real estate transactions in the city, which for years was the corruption focus of inefficiency and where large-scale fraud hatched by falsifying deeds,' said AMPI.
In the issue, currently has an advance of 40% of the deeds that have more movement, which reduced the number of people who daily came to this offices, from 1500 and the goal is to reach 100, so that 90% will be made via the Internet from their own notaries.
Equity International is Interested In Mexico
Equity International is interested in Mexico
07/10/2010 10:25
Mexico. The real estate firm Equity International, of the entrepreneur Sam Zell, is considering returning to Mexico since it detected growth of the country's middle class that will demand housing in the coming years. This happened after the firm retired its latest investment in the country in 2008.
In Mexico, the growth of the middle class and consumption are constant, reason why Equity International is buying shares in companies that benefit from the growing demand for housing for middle income families, finding attractive also other segments such as commercial areas, logistics and some companies.
In the past, real estate in Mexico invested $32 million dollars in the promoter SAB Homes and was retired in 2008 with a gain of $500 million dollars for its investors.
Sam Zell is considered the real estate investing guru. He rose to fame in 2006 when he sold to Blackstone, the firm Equity Office Properties, before unleashing the housing bubble that caused the U.S. economic crisis
07/10/2010 10:25
Mexico. The real estate firm Equity International, of the entrepreneur Sam Zell, is considering returning to Mexico since it detected growth of the country's middle class that will demand housing in the coming years. This happened after the firm retired its latest investment in the country in 2008.
In Mexico, the growth of the middle class and consumption are constant, reason why Equity International is buying shares in companies that benefit from the growing demand for housing for middle income families, finding attractive also other segments such as commercial areas, logistics and some companies.
In the past, real estate in Mexico invested $32 million dollars in the promoter SAB Homes and was retired in 2008 with a gain of $500 million dollars for its investors.
Sam Zell is considered the real estate investing guru. He rose to fame in 2006 when he sold to Blackstone, the firm Equity Office Properties, before unleashing the housing bubble that caused the U.S. economic crisis
AMB Will Invest 600 Million Dollars In REal Estate Developments
AMB will invest 600 million dollars in real estate development
23/09/2010 09:56
Mexico. AMB Property Mexico, a developer and manager of industrial real estate, mainly in regard to distribution and storage centers, said it plans to invest about $600 million dollars in the country over the next four years to face the growing demand for consumer and industrial companies and logistics infrastructure.
The announcement was made by AMB Property Mexico, a subsidiary of the global company, AMB Property Corporation, after formalized the placement of $3,300 billion pesos of certificates maturing on the Mexican Stock Exchange, a transaction that for the first time will allow institutional investors, such as companies that manage pension funds for retirement, participate of the profits and revenues of the growing industrial real estate sector in Mexico.
This way, with the resources obtained by AMB Property Mexico for the placement of the certificates, plus about $700 million pesos that will bring the company, plus a similar amount of funds that will receive from the debt, the company expects to build more than a million square feet of industrial infrastructure in Mexico over the next four years.
Particularly, AMB Property Mexico will focus on building distribution centers and intermodal terminals in Mexico City, Guadalajara and Monterrey, which are the main consumption centers in the country and where there is a growing demand for this type of infrastructure.
Investment announcement of AMB Property Mexico is, indirectly, a vote of confidence in the economic future of Mexico, although in recent months the levels of insecurity faced by some cities, mainly in the north, have generated some uncertainty about companies, mainly foreign, would slow their investment plans.
23/09/2010 09:56
Mexico. AMB Property Mexico, a developer and manager of industrial real estate, mainly in regard to distribution and storage centers, said it plans to invest about $600 million dollars in the country over the next four years to face the growing demand for consumer and industrial companies and logistics infrastructure.
The announcement was made by AMB Property Mexico, a subsidiary of the global company, AMB Property Corporation, after formalized the placement of $3,300 billion pesos of certificates maturing on the Mexican Stock Exchange, a transaction that for the first time will allow institutional investors, such as companies that manage pension funds for retirement, participate of the profits and revenues of the growing industrial real estate sector in Mexico.
This way, with the resources obtained by AMB Property Mexico for the placement of the certificates, plus about $700 million pesos that will bring the company, plus a similar amount of funds that will receive from the debt, the company expects to build more than a million square feet of industrial infrastructure in Mexico over the next four years.
Particularly, AMB Property Mexico will focus on building distribution centers and intermodal terminals in Mexico City, Guadalajara and Monterrey, which are the main consumption centers in the country and where there is a growing demand for this type of infrastructure.
Investment announcement of AMB Property Mexico is, indirectly, a vote of confidence in the economic future of Mexico, although in recent months the levels of insecurity faced by some cities, mainly in the north, have generated some uncertainty about companies, mainly foreign, would slow their investment plans.
Reichmann International Mexico
Reichmann International Mexico
Torre Mayor
Architect: Zeidler Partnership Architects and Adamson Associates Architects
The tallest building in Latin America, Torre Mayor rises 738 feet above Mexico City's most important avenue, Paseo de la Reforma. Built by Toronto developer Paul Reichmann and inaugurated in 2003, it was downtown Mexico City's first important skyscraper since the devastating 1985 earthquake. The green-glass and stone tower features 98 mammoth shock absorbers to protect the structure from a temblor of up to 8.5 on the Richter scale.
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Torre Mayor
Architect: Zeidler Partnership Architects and Adamson Associates Architects
The tallest building in Latin America, Torre Mayor rises 738 feet above Mexico City's most important avenue, Paseo de la Reforma. Built by Toronto developer Paul Reichmann and inaugurated in 2003, it was downtown Mexico City's first important skyscraper since the devastating 1985 earthquake. The green-glass and stone tower features 98 mammoth shock absorbers to protect the structure from a temblor of up to 8.5 on the Richter scale.
read the storypost a comment
next slide
previous slide
more slide shows… Ads by Google
Top 10 Architect Software
Blowout Sale On Architect Software Season's Latest Architect Software
ArchitectSoftware.ShopCompare.net
Mexico Economy Forecasts
Country Market Analysis & Forecasts Sign Up Now For A Free Trial
latinamericamonitor.com/Mexico
--------------------------------------------------------------------------------
©2010 Bloomberg L.P. All Rights Reserved.
Mexico ' s Hidden Mountaqin Town
Mexico's Hidden Mountain Town
The charming village of Tepoztlan offers clean mountain air, a rich history, beautiful vistas, and—blissfully—few tourists by Hardy Green
Lifestyle
The Money's in Manhattan. Manhattan, Kansas
America's Highest-Income Cities by State
Spreading the Love
The Best-Selling Condiments in the U.S.
Marvelous Mondavi
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Tell your friends that you've been on a trip to Mexico in midwinter, and they're likely to ask which coast you've visited. But Mexico is a big country, with plenty of charming areas that are nowhere near surf or sand. One of these is the mountain town of Tepoztlan in the state of Morelos, which is about as far as one can get from the tourist-thronged honkytonks of Cancun and Acapulco.
Approaching on Highway 115 leading southeast about an hour's drive from Mexico City, one begins to understand the appeal of Tepoz, as it's known to locals: The hilly hamlet is surrounded by the irregular Tepozteco mountains, offering warm days and cool evenings, beautiful vistas, and a rich history. In 2002 Mexico's tourism secretariat named the town one of 32 "magical villages," or pueblo magicos, around the country, due in part to the legend that holds it to be the birthplace of Quetzalcoatl, the ancient Aztec feathered serpent god. The spiritually inclined still congregate here to soak up the vibes, or perhaps to indulge in a temazcal, or sweat bath, said to cure any number of physical ills and induce a sense of well-being.
What to Do
Everyone else can enjoy a range of activities, from absorbing the area's natural beauty to viewing archeological wonders and Mexican art, taking cooking or writing classes, shopping for handicrafts, enjoying the local cuisine, or observing one of the near-continuous fiestas.
The area's foliage is lush even in midwinter: Bougainvillea and huge poinsettia adorn most every yard and patio. There are birds of every description, from tiny hummingbirds and goldfinches to squawking grackles and the vermillion flycatcher.
High above the town is the Tepozteco pyramid, a strenuous 1.3-km, one-hour hike away. Dating from around 1100 A.D., the small edifice here was erected to the god of pulque, a milky alcoholic beverage made, like tequila, from the agave plant. Stone benches and ancient carvings adorn the site. The view of the town below is dramatic.
Drive 45 minutes south to see the even more impressive ruin of Xochicalco (dating from 200 B.C., with its most notable structures from 1000 A.D.), famous for its sizable pyramids, three ball courts, relief carvings of ancient dignitaries, and a much-speculated-about observatory.
On the way back from Xochicalco is the now-sprawling city of Cuernavaca, which features a range of cultural and commercial institutions, including the recently completed Centro Cultural Muros, a museum featuring contemporary artworks, and the Mexican art collection of Jacques and Natasha Gelman. Notable pieces include works of Diego Rivera, Jose Clemente Orozco, Frida Kahlo, and Maria Izquierdo. Also of interest is the Robert Brady Museum, a former private home that is chock-full of the work of the same Mexican luminaries, along with colonial religious sculpture, African artifacts, and an over-the-top bedroom once frequented by chanteuse and Brady pal Josephine Baker.
Back in Tepoz, visitors can choose among reasonably priced local crafts from a number of shops. The museum shop at the Convento Dominico de la Natividad (pictured above), which is a World Heritage Site, is especially good. Tepoz also has a good English-language bookstore, La Sombra del Sabino, which does a nice side business in arranging day trips on horseback.
If your interests tend to the culinary, Cocinar Mexicano offers intensive, one-week cooking classes led by local women and celebrated restaurant chefs. For the literary visitor, Under the Volcano, named for the celebrated Malcolm Lowry novel, offers creative writing workshops in English and Spanish coordinated by New Yorker Magda Bogin, a novelist and translator of The House of the Spirits by Isabel Allende. A range of North American literati, including novelist Russell Banks and poet and essayist Breyten Breytenbach, have taught here.
The charming village of Tepoztlan offers clean mountain air, a rich history, beautiful vistas, and—blissfully—few tourists by Hardy Green
Lifestyle
The Money's in Manhattan. Manhattan, Kansas
America's Highest-Income Cities by State
Spreading the Love
The Best-Selling Condiments in the U.S.
Marvelous Mondavi
Story Tools
post a comment
e-mail this story
print this story
order a reprint
digg this
save to del.icio.us
Tell your friends that you've been on a trip to Mexico in midwinter, and they're likely to ask which coast you've visited. But Mexico is a big country, with plenty of charming areas that are nowhere near surf or sand. One of these is the mountain town of Tepoztlan in the state of Morelos, which is about as far as one can get from the tourist-thronged honkytonks of Cancun and Acapulco.
Approaching on Highway 115 leading southeast about an hour's drive from Mexico City, one begins to understand the appeal of Tepoz, as it's known to locals: The hilly hamlet is surrounded by the irregular Tepozteco mountains, offering warm days and cool evenings, beautiful vistas, and a rich history. In 2002 Mexico's tourism secretariat named the town one of 32 "magical villages," or pueblo magicos, around the country, due in part to the legend that holds it to be the birthplace of Quetzalcoatl, the ancient Aztec feathered serpent god. The spiritually inclined still congregate here to soak up the vibes, or perhaps to indulge in a temazcal, or sweat bath, said to cure any number of physical ills and induce a sense of well-being.
What to Do
Everyone else can enjoy a range of activities, from absorbing the area's natural beauty to viewing archeological wonders and Mexican art, taking cooking or writing classes, shopping for handicrafts, enjoying the local cuisine, or observing one of the near-continuous fiestas.
The area's foliage is lush even in midwinter: Bougainvillea and huge poinsettia adorn most every yard and patio. There are birds of every description, from tiny hummingbirds and goldfinches to squawking grackles and the vermillion flycatcher.
High above the town is the Tepozteco pyramid, a strenuous 1.3-km, one-hour hike away. Dating from around 1100 A.D., the small edifice here was erected to the god of pulque, a milky alcoholic beverage made, like tequila, from the agave plant. Stone benches and ancient carvings adorn the site. The view of the town below is dramatic.
Drive 45 minutes south to see the even more impressive ruin of Xochicalco (dating from 200 B.C., with its most notable structures from 1000 A.D.), famous for its sizable pyramids, three ball courts, relief carvings of ancient dignitaries, and a much-speculated-about observatory.
On the way back from Xochicalco is the now-sprawling city of Cuernavaca, which features a range of cultural and commercial institutions, including the recently completed Centro Cultural Muros, a museum featuring contemporary artworks, and the Mexican art collection of Jacques and Natasha Gelman. Notable pieces include works of Diego Rivera, Jose Clemente Orozco, Frida Kahlo, and Maria Izquierdo. Also of interest is the Robert Brady Museum, a former private home that is chock-full of the work of the same Mexican luminaries, along with colonial religious sculpture, African artifacts, and an over-the-top bedroom once frequented by chanteuse and Brady pal Josephine Baker.
Back in Tepoz, visitors can choose among reasonably priced local crafts from a number of shops. The museum shop at the Convento Dominico de la Natividad (pictured above), which is a World Heritage Site, is especially good. Tepoz also has a good English-language bookstore, La Sombra del Sabino, which does a nice side business in arranging day trips on horseback.
If your interests tend to the culinary, Cocinar Mexicano offers intensive, one-week cooking classes led by local women and celebrated restaurant chefs. For the literary visitor, Under the Volcano, named for the celebrated Malcolm Lowry novel, offers creative writing workshops in English and Spanish coordinated by New Yorker Magda Bogin, a novelist and translator of The House of the Spirits by Isabel Allende. A range of North American literati, including novelist Russell Banks and poet and essayist Breyten Breytenbach, have taught here.
China 's CIC Held Talks for Brasil and Mexico Investments
China’s CIC Held Talks for Brazil, Mexico Investments (Correct)
January 20, 2010, 6:57 AM EST
More From Businessweek
Mexico in Need of Investment to Fight Poverty, Carlos Slim Says
Grupo Mexico Net Rises as Southern Copper Sales Surge (Update2)
Chevron to Invest in $5.2 Billion Brazil Oil Project (Update1)
China to Start Using Copper Stockpiles, Chile’s Cochilco Says
Rio May Help China Get Foreign Mines, Albanese Says (Update1)
Story Tools
e-mail this story print this story 0diggsdiggadd to Business Exchange (Corrects to say CIC will rely more on external managers in inefficient markets in eighth paragraph.)
Jan. 20 (Bloomberg) -- China Investment Corp., the nation’s sovereign wealth fund, has had “early” talks for direct investments in Brazil and Mexico, Chairman Lou Jiwei said.
The sovereign wealth fund plans to increase direct investments this year and prioritizes such investments in developing markets, Lou said at a financial forum in Hong Kong today. CIC plans to be an “active, minority” shareholder in companies, instead of being involved in day-to-day operations, he said.
“In developing countries, the public capital markets are not as deep as developed countries,” Lou said. “We’re more interested in direct investments in developing countries.”
CIC, which held almost $300 billion in assets at the end of 2008, last year accelerated investments in resource-related companies, from U.S. power producer AES Corp. to Russia’s Nobel Oil Group, to hedge against rising inflation. Brazil is the second-biggest exporter of iron ore, while China is the largest buyer of the raw material.
“I believe CIC will continue to concentrate on resources, because it is the vehicle for China policy to secure resources for the country,” Francis Lun, general manager of Fulbright Securities Ltd. in Hong Kong, said in a Jan. 18 interview.
Declining asset prices after the worst market rout since World War II prompted the sovereign fund to quicken spending on energy, minerals and real estate assets in the second half. The fund earlier this month agreed to invest $50 million in the initial public offering of SouthGobi Energy Resources Ltd., the Vancouver-based coal producer operating in the southern deserts of Mongolia.
Iron Ore Imports
China, the biggest consumer of iron ore and metals, last year raised imports of the material by 42 percent to a record 628 million metric tons. Brazil is home to the world’s largest iron ore supplier, Vale SA, and is the second-biggest exporter after Australia. Mexico is the second-largest maker of silver, after Peru, and also produces copper from mines owned by companies including Grupo Mexico SAB.
CIC will continue to rely more on external managers in inefficient markets such as the public markets in developing countries including Latin America and Asia, Lou said. It will increase the use of internal managers in more efficient markets, he said. The fund uses outside managers for more than 70 percent of its total investments due to its lack of experience, he said.
CIC, set up in 2007, invests the $110 billion it has for overseas mainly in traded financial products, with only “small amounts” on direct investments, Lou said in October.
The sovereign wealth fund will stick to its strategic allocations, Lou said today without being specific. The fund’s inability to invest in China, the world’s fastest-growing major economy, is a disadvantage, he added.
CIC is also investing in a U.S. infrastructure project, Lou said today without providing details.
--Bei Hu, Zhang Dingmin. Editors: Andreea Papuc
To contact the editor responsible for this story: Andreea Papuc at Apapuc1@bloomberg.net
January 20, 2010, 6:57 AM EST
More From Businessweek
Mexico in Need of Investment to Fight Poverty, Carlos Slim Says
Grupo Mexico Net Rises as Southern Copper Sales Surge (Update2)
Chevron to Invest in $5.2 Billion Brazil Oil Project (Update1)
China to Start Using Copper Stockpiles, Chile’s Cochilco Says
Rio May Help China Get Foreign Mines, Albanese Says (Update1)
Story Tools
e-mail this story print this story 0diggsdiggadd to Business Exchange (Corrects to say CIC will rely more on external managers in inefficient markets in eighth paragraph.)
Jan. 20 (Bloomberg) -- China Investment Corp., the nation’s sovereign wealth fund, has had “early” talks for direct investments in Brazil and Mexico, Chairman Lou Jiwei said.
The sovereign wealth fund plans to increase direct investments this year and prioritizes such investments in developing markets, Lou said at a financial forum in Hong Kong today. CIC plans to be an “active, minority” shareholder in companies, instead of being involved in day-to-day operations, he said.
“In developing countries, the public capital markets are not as deep as developed countries,” Lou said. “We’re more interested in direct investments in developing countries.”
CIC, which held almost $300 billion in assets at the end of 2008, last year accelerated investments in resource-related companies, from U.S. power producer AES Corp. to Russia’s Nobel Oil Group, to hedge against rising inflation. Brazil is the second-biggest exporter of iron ore, while China is the largest buyer of the raw material.
“I believe CIC will continue to concentrate on resources, because it is the vehicle for China policy to secure resources for the country,” Francis Lun, general manager of Fulbright Securities Ltd. in Hong Kong, said in a Jan. 18 interview.
Declining asset prices after the worst market rout since World War II prompted the sovereign fund to quicken spending on energy, minerals and real estate assets in the second half. The fund earlier this month agreed to invest $50 million in the initial public offering of SouthGobi Energy Resources Ltd., the Vancouver-based coal producer operating in the southern deserts of Mongolia.
Iron Ore Imports
China, the biggest consumer of iron ore and metals, last year raised imports of the material by 42 percent to a record 628 million metric tons. Brazil is home to the world’s largest iron ore supplier, Vale SA, and is the second-biggest exporter after Australia. Mexico is the second-largest maker of silver, after Peru, and also produces copper from mines owned by companies including Grupo Mexico SAB.
CIC will continue to rely more on external managers in inefficient markets such as the public markets in developing countries including Latin America and Asia, Lou said. It will increase the use of internal managers in more efficient markets, he said. The fund uses outside managers for more than 70 percent of its total investments due to its lack of experience, he said.
CIC, set up in 2007, invests the $110 billion it has for overseas mainly in traded financial products, with only “small amounts” on direct investments, Lou said in October.
The sovereign wealth fund will stick to its strategic allocations, Lou said today without being specific. The fund’s inability to invest in China, the world’s fastest-growing major economy, is a disadvantage, he added.
CIC is also investing in a U.S. infrastructure project, Lou said today without providing details.
--Bei Hu, Zhang Dingmin. Editors: Andreea Papuc
To contact the editor responsible for this story: Andreea Papuc at Apapuc1@bloomberg.net
Latino Business Hipanic
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Thursday, April 29, 2010Americans are working longer
Americans work longer
The Latino Business Review
At a time when some policy makers are recommending increasing the retirement age to 70, it is worth noting that American workers already have a higher retirement age than most of the rest of the developed world. The Figure shows the official retirement ages – the age at which workers may collect full retirement benefits – for men and women in the United States and several other countries in the Organization of Economic Cooperation and Development (OECD) as of 2007. The official U.S. retirement age, which was 65.8 years at the time, was significantly higher than the OECD averages of 63.5 years for men and 62.3 years for women. (U.S. workers may also take early retirement at age 62 and collect reduced benefits).
Twenty-six of the 30 OECD countries have official retirement ages of 65 or younger. Only Ireland, with an official retirement age of 66, and Iceland and Norway, at 67, ranked slightly above the U.S. at the time these data were collected. However, the U.S. retirement age is gradually increasing. It is currently 66 for most workers entering retirement (those born between 1943 and 1954), and it will rise to 67 for those born in 1960 or later. Those increases put the U.S. retirement age at the very high end of the scale: A further increase to 70 would put it well beyond the age that workers in the rest of the developed world can currently retire and collect full benefits. At the same time, the life expectancy for retired American workers is about the same as that in most other developed countries.
In her 2009 paper Working the Graveyard Shift, EPI Economist Monique Morrissey notes that most of the increase in life expectancy in the U.S. in recent decades has been among higher income workers. Raising the retirement age would hurt many workers who have little choice but to retire early due to poor health and job prospects – often the low-income workers who rely on Social Security the most.
For mor info, www.epi.org
Posted by Adrian Perez, Publisher at 5:17 AM 0 comments
Labels: Latino Workers
Hispanic entrepreneurs in Tampa invited to Contractor's Academy
CONTRACTOR’S ACADEMY HOSTED BY THE HISPANIC BUSINESS INITIATIVE FUND
TO BEGIN IN TAMPA ON MAY 12, 2010
The Latino Business Review
The HBIF Contractor’s Academy is holding a five-session educational program conducted in Spanish, free of charge, to facilitate the development of Hispanic-owned construction businesses in the Tampa Bay area. Each session covers a different topic such as field management, construction law, insurance, costs and estimating, accounting, and minority certifications, among others.
Hispanic entrepreneurs in the Tampa Bay area are invited to attend this informative education program. Professionals in the construction field serve as speakers for each session.
HBIF is the leading local nonprofit economic development organization specializing in providing bilingual technical assistance to Hispanic entrepreneurs trying to establish or expand their businesses in Florida. For more than 19 years, HBIF has promoted the Hispanic entrepreneur, provided programs, and created community partnerships to enhance the economic development of Florida’s Hispanic business community.
This program consists of five separate sessions. The first session will be on Wednesday, May 12, 2010 from 5:30 p.m. until 7:00 p.m. at Corporate Square
7402 N 56th St.
Bldg. #400, Suite 425
Tampa, FL 33617
There is no cost to participate in the HBIF Contractor’s Academy.
To register, call 813-980-2765, e-mail Rita Sauri at RSauri@hbifflorida.org, or register on our Web site, www.HBIFFlorida.org.
Posted by Adrian Perez, Publisher at 5:11 AM 0 comments
Labels: LATINOS IN BUSINESS
Monday, April 26, 2010Small Hispanic ad agencies losing accounts to large agencies
General-Market Shops Snatching Up Hispanic Business
Laurel Wentz, AdAge.com, 04.26.10
NEW YORK (AdAge.com) -- After years of trying to convince the mainstream world of the size and importance of the Hispanic market, Hispanic agencies are finding that one group has started to listen: general-market shops. Pressured by cost-cutting clients, general-market agencies are taking on Hispanic shops for a bigger share of the fast-growing Latino market.
With 2010 Census data likely to show big growth in the Hispanic population, the fight is likely to intensify as general-market agencies poach talent and specialty shops protect their turf.
The ad industry was stunned earlier this month when Home Depot moved its $37 million Hispanic account from incumbent Vidal Partnership to Richards/Lerma, a little-known Hispanic capability at Home Depot's general-market agency, Richards Group.
Separately, Unilever is doing a pitch to consolidate its Hispanic business that doesn't rule out participation by general-market agencies. "The business should go to whoever pitches it best," said Tatiana Hansell, senior brand manager-multicultural at Unilever.
Since then, Wendy's has started a review of its Hispanic business that requires contenders to forward their information to Wendy's general-market agency, Kaplan Thaler Group, according to a critical statement issued by the Association of Hispanic Advertising Agencies about both reviews.
In a reference to the Wendy's review, Joe Zubi, chief operating officer of Zubi Advertising, wrote in the agency's ZubiNation blog: "One RFP was actually sent to us by the person who heads up the account at the general-market agency. The first question was to describe how well we get along with general-market agencies. If that does not send a clear message that the Hispanic shop will follow the footsteps of Big Brother, I don't know what does. Not to mention that Big Brother can then figure out how best to approach the market and tell the client that they can do it just as well for less money ... does the name Home Depot ring a bell?"
Pitch to 'band together'
Javier Palomarez, president-CEO of the U.S. Hispanic Chamber of Commerce, said he dispatched a letter April 14 to the CEO of Home Depot "voicing our disappointment and surprise," and sent copies to the Hispanic Chamber's 210 chapters across the country.
"As a community we have not done a good enough job of banding together," said Mr. Palomarez, who in the past headed multicultural marketing for Bank of America and early in his career developed Allstate's first Hispanic advertising. He said the chamber represents about 3 million companies generating more than $4 billion in revenue, with about 21% coming from businesses that work in fields such as construction, renovation and landscaping and are "great customers of Home Depot."
Although Home Depot represents the biggest Hispanic account to go to the least-known agency, other general-market agencies are gaining traction.
Havas Worldwide is hiring a top Hispanic creative director, Vidal Partnership's Mauricio Galvan, and Leo Olper, chief operating officer of Hispanic shop Lapiz, to build a Hispanic agency to serve Euro RSCG Worldwide and Arnold clients, replacing the moribund Euro RSCG Latino.
DraftFCB has assembled about 55 multicultural specialists at the agency's 1,100-person Chicago office, said Simon El Hage, senior VP-multicultural segments. Integrated in the general-market account teams, they work on multicultural business for the agency's general-market clients such as State Farm, Kmart and Taco Bell, whose Latino account it just stole from Hispanic shop Dieste. DraftFCB has even joined the Association of Hispanic Advertising Agencies as an associate member.
"Multicultural audiences are the pop-culture creators," said Ken Muench, who joined DraftFCB in December 2009 as senior VP-director of multicultural planning from leading Hispanic agency Grupo Gallegos. "You can't be a credible general-market agency without considering the multicultural segment."
One of the biggest changes shaping the market is the trend toward what many are calling the total market -- a melding of the general market and the growing multicultural market, partly due to the increasing numbers and influence of Hispanic and black consumers.
"Mainstream culture today is not the general market," Mr. Muench said. "It's a multicultural-inspired total market."
Posted by Adrian Perez, Publisher at 1:21 PM 1 comments
Labels: Latino Market
Historic Hispanic market at risk in LA
Olvera Street businesses say rent increases may force closures
By Ruben Vives, Los Angeles Times, April 25, 2010
Along the oldest street in Los Angeles, the scent of grilled carne asada and fried taquitos lingers in the air, mariachis sing and strum guitars and roughly 2 million tourists a year wander among a collection of stores and kiosks selling Mexican candy, Aztec calendars and folk dresses.
Yet even as Olvera Street celebrates its 80th anniversary as a city-administered historic site, merchants along the quaint brick walking street claim that this year's celebration could well be their last. They say a city commission's decision to hike rental rates will end up putting them out of business.
Olvera Street — along with nearby museums, historic buildings, a church, a bandstand and five parking lots — comprise El Pueblo de Los Angeles Historical Monument, a city department tasked with preserving the birthplace of Los Angeles. The El Pueblo Monument Commission oversees the site's day-to-day operations.
For years, the city has essentially subsidized rents along Olvera Street by charging less than market rates. Now, with Los Angeles facing a $485-million budget deficit, the commission has approved an increase in rent and maintenance fees for most of Olvera Street's 78 businesses.
Tenants say the new rates are unreasonable and will triple or quadruple their rent. They claim also that the city is violating a resolution the city passed on Olvera Street rent years ago.
"You can't just go in and say ‘I'll increase your rent four times because I need money,' " said Paul Hamilton, an attorney representing the Olvera Street Merchants Assn. "Not without taking into account the impact on the merchants and also not taking into account the deal that was made in 1999."
Last June, an audit of the monument and its finances by the city controller's office raised questions over its rent structure and management. The audit showed that the park's revenues come mostly from merchant rent, parking fees, events and filming. But because of constant budget shortfalls, El Pueblo has required subsidies from the city's general fund. According to the audit, those general fund transfers to El Pueblo increased from $369,000 in fiscal year 2004-05 to $921,000 in fiscal year 2007-08.
Now the city is reexamining its relationship with El Pueblo, resulting in new rental rates and maintenance fee increases for merchants.
"I began looking at our finances and recognized that there were areas that needed to be improved," said Robert Andrade, general manager of El Pueblo. "We recognized that the original appraisal was dated, and we thought that we needed to update [it] to reflect the current market."
The new rates that went into effect April 1 vary, depending on the size and use of the building. Merchants who rent kiosks will see an increase from $300 a month to $950. Some retail shops, a number of which pay 50 cents per square foot under the old rental agreement, will see their rent increase to $2 per square foot.
Realizing that not all merchants may be able to pay the new rates, the El Pueblo department has partnered with the Community Development Department and is offering an opportunity for those merchants to apply for financial hardship. If they show that they would be unable to pay the market rate, a rent adjustment would be considered by the commission, Andrade said, adding that no merchants have applied yet.
Also at issue in the rent argument is Proposition H, an initiative passed by Los Angeles voters in 1992. Proposition H assured long-term leases with the merchants without competitive bidding to help preserve Olvera Street's charm. In 1999, the City Council also unanimously passed a resolution that included a master lease with a list of terms, such as 55-year leases with adjustments for inflation every five years.
El Pueblo directors say only some Olvera street businesses are covered by the resolution, but Hamilton, the merchants' lawyer, insists otherwise. He said that under the resolution, rents cannot be raised unless the city constructs another parking structure in the area. He also said the new rates are not keyed to inflation.
Among those tenants who will see their rent increase is Mike Maniscal, 55. His great-grandfather began working at Olvera Street when it was established, and Maniscal and his wife, Rosa, have run the Mexican art and pottery shop, Myrosa, for more than 30 years. The couple said they, as other merchants do, participate in all of the cultural events held each year including Las Posadas, Blessing of the Animals and Day of the Dead.
"Olvera Street is in us, this isn't just a job," Maniscal said. "We take pride in what Olvera Street represents, and we're grateful."
As a tourist wandered into his store one recent afternoon, Maniscal said he is unsure whether he will make it past next year's anniversary.
"I was asking others about that, and some said they were wondering if they'll be here the following week," Maniscal said. "No one knows at this point."
ruben.vives@latimes.com
Posted by Adrian Perez, Publisher at 1:18 PM 0 comments
Labels: LATINOS IN BUSINESS
Sunday, March 28, 2010Latino Professionals and business owners working together
Midstate Latinos are building momentum, 'now working together'
By DIANA FISHLOCK, The Patriot-News, March 27, 2010
Organizers are securing a building to open the Latino Hispanic American Community Center in the city’s Allison Hill neighborhood this summer.
New members are joining the Latino Hispanic Professional Association Central Pennsylvania.
Midstate Latinos are on the rise and building momentum.
“The Latino leadership is growing, reinvigorating, connecting,” said Hector Ortiz, the new community center’s board president.
The leaders were there all along but there is a growing sense of cooperation, said Yolanda Perez-Rivera, president and founding member of the professional association.
“We were just not as visible,” said Perez-Rivera, a professor at Harrisburg Area Community College. “We are now making noise. We are now working together.”
Organizers of the community center in Allison Hill hope it will create even more unity, growing into a place for Hispanic professionals and people needing food stamps or social services, Ortiz said. “This is why we call this a one-stop shop, not just for the poor, for everyone.”
Ed Lanza sees significant momentum among Latinos. He’s an attorney with Eckert Seamans and a board member of the Hispanic Chamber of Commerce, which launched in 2007 and has more than 75 members.
“We think we can help minority businesses to access opportunities through networking, knowing the people involved in handing out those contracts and those leads to burgeoning Hispanic businesses,” he said.
The professional association can help, said Jose Espinas, 41, of Annville, a case manager at the Community Action Commission. He said he is volunteering because he wants to help the community move ahead.
“It’s not going to go ahead unless we invest ourselves into it,” Espinas said. He wants to see more Latino students pursue higher education and wants to see more bilingual staff in businesses and agencies.
Why is this momentum building now?
There’s been an awakening in the midstate Hispanic community, Ortiz said.
“We have so many issues and we have to do something,” he said. “We have to take charge.”
Ironically, the closing of the Mount Pleasant Hispanic American Center might have paved the way for some of the resurgence in the local Hispanic community.
In late 2006, the Mount Pleasant center closed after 37 years of providing English lessons, after-school programs and help for immigrants. The organization had faced a series of setbacks in its final years, including a large turnover of board members and executive directors. It lost United Way funding for failing to provide measurable results or documentation of services.
Even while the center was open, there were unmet needs, some said.
“I think if you talk to people who’ve been around a long time, there are people in the community who’ve been doing this 15, 20, 25 years,” Lanza said. “They will tell you there was a sense of frustration. There was a center here right in the center of where the needs were, and yet the needs were not being met.”
Perez-Rivera credits Ortiz with a lot of the unity and cooperation, saying he has “very special skills.”
She also credits younger leaders such as Evita Cotta, a founder of the proposed community center, with using technology to reach more young Latinos with e-mail, Facebook, Twitter and cell phones.
Part of the momentum came from organizations that put together Latinos from different nationalities and backgrounds, Ortiz said. Estamos Unidos did this with families. The United Way of the Capital Region did the same with adult leaders.
Midstate Latinos come from 22 countries, Perez-Rivera said. “The community of Latinos is a very diverse community, ethnically, racially, culturally, class, economical. ... In common, we have some Spanish, some cultural values, but each country has our own cultural background.”
After a survey of midstate Latinos showed the need for more leadership, the United Way gave a $35,000 grant to the Pennsylvania Association of Latino Organizations Inc. to hold leadership training, said Joe Capita, the president and CEO of the United Way of the Capital Region.
That brought together people who had been isolated, including young leaders, doctors and professors, Ortiz said.
“They were professionals doing something, but now they were involved in their community,” he said.
Lanza credits the United Way for helping develop the leadership potential. “They have shown a willingness to fund the activities of a Hispanic center if it’s done right,” he said.
Another factor is Pennsylvania’s Latinos are seeing their neighbors become leaders, Ortiz said.
“The community is growing, the demographic is changing and you’ll see the changes in the leadership,” Ortiz said.
Posted by Adrian Perez, Publisher at 3:37 PM 0 comments
Labels: Latinos In The U.S.
Financial aid keeping Latinos out of college
Tech administrators address graduation gap among Hispanics
Jaime Gerik, myfoxlubbock.com, 03/26/10
A new study finds challenges outside the classroom are to blame for higher college dropout rates among Hispanic students. They say many face financial hardships and don't know where to turn for financial aid.
This is why Texas Tech wants to get the word out about a fairly new program geared toward those who are struggling.
Back in high school Andreina Chavez didn't give higher education much thought.
"At the beginning, I didn't think I was going to go to college," says Chavez. She says a family friend and mentor helped her get to where she is today, by finally convincing her college could be a reality.
"It took her about four years for me to realize I wanted to come to college and I wanted something better for myself."
Many others feel the same but don't make it to the end. The American Enterprise Institute for Public Policy study finds in Texas 40 percent of Hispanic students graduated within six years, compared to 45 percent of white students.
Juan Munoz with Texas Tech's Division of Institutional Diversity says "five percent, is that acceptable? Is 10 percent acceptable? 13 percent? Or is educational equity and parody what we want?"
Munoz says part of improving graduation rates involves making sure parents don't put added pressure on the student.
"Because when a parent says 'you know what son? I need you to go to work', are they really helping their child?" says Munoz.
Now a sophomore at Tech, Chavez is putting pressure, the positive kind, on her younger peers. She's part of the Hispanic Scholarship Fund. She speaks at high schools and community colleges about financial aid possibilities.
"It's kind of unreachable in a way, for most Hispanics because we don't really have resources to come to college or we're first-generation, so our parents don't know anything about college," says Chavez.
Munoz says "it's not as if we've got generations of higher education experience. So when you say financial aid, scholarship, grant, non-refundable assistance, it's a language they aren't completely familiar with."
He says the Red Raider Guarantee program is helping break the barrier. It pays for all four years, as well as tuition and books, if a family's gross adjusted income is below $40,000.
Meanwhile, Chavez is on her way to not just one but multiple degrees. She's on a full scholarship and plans to go to law school.
Posted by Adrian Perez, Publisher at 3:34 PM 1 comments
Labels: LATINOS IN EDUCATION
More ad spending on Hispanics
Hispanic-targeted efforts gain more ad dollars: study
Frank Washkuch, dmnews.com, March 26, 2010
Marketers allocated more of their marketing spend last year than in 2008 to targeting Hispanic consumers. However, that spending failed to reach pre-recession levels, according to the Association of Hispanic Advertising Agencies. The study is the latest indicator of the growing consumer clout of US Hispanics.
Advertisers allocated 5.4% of their ad spending last year to reaching Hispanic customers, up from 5.1% in 2008 but below the 5.6% of 2007.
Ad spending targeting Hispanic consumers also held its ground better than spending targeting non-Hispanics. According to the AHAA, advertising targeting non-Hispanics by the top 500 advertisers dropped by 9.5% in 2009, while spending seeking to reach Hispanics dropped by 4.4%.
The AHAA also increased the number of advertisers in its “best in class” category, defined by spending more than 11.8% of their ad budget on reaching Hispanics, from 32 to 40 last year. Those companies had an average distribution of 21.4%. Among the companies in that group are Time Warner Cable, Domino's Pizza and Red Bull.
Major professional sports organizations, such as the National Basketball Association, the National Football League, NASCAR and the National Hockey League launched multicultural campaigns last year trying to gain a wider range of consumers.
In recent months, Boost Mobile, T-Mobile and the Make-A-Wish Foundation launched initiatives specifically targeting Hispanic consumers. On the agency side, Garcia Research and Santiago ROI created a Hispanic market index, while Eclipse launched a Hispanic practice and Univision Interactive Media unveiled a Hispanic-targeted ad network.
Posted by Adrian Perez, Publisher at 3:23 PM 0 comments
Labels: LATINO CONSUMERS
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Americans are working longer
Hispanic entrepreneurs in Tampa invited to Contrac...
Small Hispanic ad agencies losing accounts to larg...
Historic Hispanic market at risk in LA
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Financial aid keeping Latinos out of college
More ad spending on Hispanics
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Effects of foreclosures on Latino families
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Tax on beverages to reduce obesity
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Thursday, April 29, 2010Americans are working longer
Americans work longer
The Latino Business Review
At a time when some policy makers are recommending increasing the retirement age to 70, it is worth noting that American workers already have a higher retirement age than most of the rest of the developed world. The Figure shows the official retirement ages – the age at which workers may collect full retirement benefits – for men and women in the United States and several other countries in the Organization of Economic Cooperation and Development (OECD) as of 2007. The official U.S. retirement age, which was 65.8 years at the time, was significantly higher than the OECD averages of 63.5 years for men and 62.3 years for women. (U.S. workers may also take early retirement at age 62 and collect reduced benefits).
Twenty-six of the 30 OECD countries have official retirement ages of 65 or younger. Only Ireland, with an official retirement age of 66, and Iceland and Norway, at 67, ranked slightly above the U.S. at the time these data were collected. However, the U.S. retirement age is gradually increasing. It is currently 66 for most workers entering retirement (those born between 1943 and 1954), and it will rise to 67 for those born in 1960 or later. Those increases put the U.S. retirement age at the very high end of the scale: A further increase to 70 would put it well beyond the age that workers in the rest of the developed world can currently retire and collect full benefits. At the same time, the life expectancy for retired American workers is about the same as that in most other developed countries.
In her 2009 paper Working the Graveyard Shift, EPI Economist Monique Morrissey notes that most of the increase in life expectancy in the U.S. in recent decades has been among higher income workers. Raising the retirement age would hurt many workers who have little choice but to retire early due to poor health and job prospects – often the low-income workers who rely on Social Security the most.
For mor info, www.epi.org
Posted by Adrian Perez, Publisher at 5:17 AM 0 comments
Labels: Latino Workers
Hispanic entrepreneurs in Tampa invited to Contractor's Academy
CONTRACTOR’S ACADEMY HOSTED BY THE HISPANIC BUSINESS INITIATIVE FUND
TO BEGIN IN TAMPA ON MAY 12, 2010
The Latino Business Review
The HBIF Contractor’s Academy is holding a five-session educational program conducted in Spanish, free of charge, to facilitate the development of Hispanic-owned construction businesses in the Tampa Bay area. Each session covers a different topic such as field management, construction law, insurance, costs and estimating, accounting, and minority certifications, among others.
Hispanic entrepreneurs in the Tampa Bay area are invited to attend this informative education program. Professionals in the construction field serve as speakers for each session.
HBIF is the leading local nonprofit economic development organization specializing in providing bilingual technical assistance to Hispanic entrepreneurs trying to establish or expand their businesses in Florida. For more than 19 years, HBIF has promoted the Hispanic entrepreneur, provided programs, and created community partnerships to enhance the economic development of Florida’s Hispanic business community.
This program consists of five separate sessions. The first session will be on Wednesday, May 12, 2010 from 5:30 p.m. until 7:00 p.m. at Corporate Square
7402 N 56th St.
Bldg. #400, Suite 425
Tampa, FL 33617
There is no cost to participate in the HBIF Contractor’s Academy.
To register, call 813-980-2765, e-mail Rita Sauri at RSauri@hbifflorida.org, or register on our Web site, www.HBIFFlorida.org.
Posted by Adrian Perez, Publisher at 5:11 AM 0 comments
Labels: LATINOS IN BUSINESS
Monday, April 26, 2010Small Hispanic ad agencies losing accounts to large agencies
General-Market Shops Snatching Up Hispanic Business
Laurel Wentz, AdAge.com, 04.26.10
NEW YORK (AdAge.com) -- After years of trying to convince the mainstream world of the size and importance of the Hispanic market, Hispanic agencies are finding that one group has started to listen: general-market shops. Pressured by cost-cutting clients, general-market agencies are taking on Hispanic shops for a bigger share of the fast-growing Latino market.
With 2010 Census data likely to show big growth in the Hispanic population, the fight is likely to intensify as general-market agencies poach talent and specialty shops protect their turf.
The ad industry was stunned earlier this month when Home Depot moved its $37 million Hispanic account from incumbent Vidal Partnership to Richards/Lerma, a little-known Hispanic capability at Home Depot's general-market agency, Richards Group.
Separately, Unilever is doing a pitch to consolidate its Hispanic business that doesn't rule out participation by general-market agencies. "The business should go to whoever pitches it best," said Tatiana Hansell, senior brand manager-multicultural at Unilever.
Since then, Wendy's has started a review of its Hispanic business that requires contenders to forward their information to Wendy's general-market agency, Kaplan Thaler Group, according to a critical statement issued by the Association of Hispanic Advertising Agencies about both reviews.
In a reference to the Wendy's review, Joe Zubi, chief operating officer of Zubi Advertising, wrote in the agency's ZubiNation blog: "One RFP was actually sent to us by the person who heads up the account at the general-market agency. The first question was to describe how well we get along with general-market agencies. If that does not send a clear message that the Hispanic shop will follow the footsteps of Big Brother, I don't know what does. Not to mention that Big Brother can then figure out how best to approach the market and tell the client that they can do it just as well for less money ... does the name Home Depot ring a bell?"
Pitch to 'band together'
Javier Palomarez, president-CEO of the U.S. Hispanic Chamber of Commerce, said he dispatched a letter April 14 to the CEO of Home Depot "voicing our disappointment and surprise," and sent copies to the Hispanic Chamber's 210 chapters across the country.
"As a community we have not done a good enough job of banding together," said Mr. Palomarez, who in the past headed multicultural marketing for Bank of America and early in his career developed Allstate's first Hispanic advertising. He said the chamber represents about 3 million companies generating more than $4 billion in revenue, with about 21% coming from businesses that work in fields such as construction, renovation and landscaping and are "great customers of Home Depot."
Although Home Depot represents the biggest Hispanic account to go to the least-known agency, other general-market agencies are gaining traction.
Havas Worldwide is hiring a top Hispanic creative director, Vidal Partnership's Mauricio Galvan, and Leo Olper, chief operating officer of Hispanic shop Lapiz, to build a Hispanic agency to serve Euro RSCG Worldwide and Arnold clients, replacing the moribund Euro RSCG Latino.
DraftFCB has assembled about 55 multicultural specialists at the agency's 1,100-person Chicago office, said Simon El Hage, senior VP-multicultural segments. Integrated in the general-market account teams, they work on multicultural business for the agency's general-market clients such as State Farm, Kmart and Taco Bell, whose Latino account it just stole from Hispanic shop Dieste. DraftFCB has even joined the Association of Hispanic Advertising Agencies as an associate member.
"Multicultural audiences are the pop-culture creators," said Ken Muench, who joined DraftFCB in December 2009 as senior VP-director of multicultural planning from leading Hispanic agency Grupo Gallegos. "You can't be a credible general-market agency without considering the multicultural segment."
One of the biggest changes shaping the market is the trend toward what many are calling the total market -- a melding of the general market and the growing multicultural market, partly due to the increasing numbers and influence of Hispanic and black consumers.
"Mainstream culture today is not the general market," Mr. Muench said. "It's a multicultural-inspired total market."
Posted by Adrian Perez, Publisher at 1:21 PM 1 comments
Labels: Latino Market
Historic Hispanic market at risk in LA
Olvera Street businesses say rent increases may force closures
By Ruben Vives, Los Angeles Times, April 25, 2010
Along the oldest street in Los Angeles, the scent of grilled carne asada and fried taquitos lingers in the air, mariachis sing and strum guitars and roughly 2 million tourists a year wander among a collection of stores and kiosks selling Mexican candy, Aztec calendars and folk dresses.
Yet even as Olvera Street celebrates its 80th anniversary as a city-administered historic site, merchants along the quaint brick walking street claim that this year's celebration could well be their last. They say a city commission's decision to hike rental rates will end up putting them out of business.
Olvera Street — along with nearby museums, historic buildings, a church, a bandstand and five parking lots — comprise El Pueblo de Los Angeles Historical Monument, a city department tasked with preserving the birthplace of Los Angeles. The El Pueblo Monument Commission oversees the site's day-to-day operations.
For years, the city has essentially subsidized rents along Olvera Street by charging less than market rates. Now, with Los Angeles facing a $485-million budget deficit, the commission has approved an increase in rent and maintenance fees for most of Olvera Street's 78 businesses.
Tenants say the new rates are unreasonable and will triple or quadruple their rent. They claim also that the city is violating a resolution the city passed on Olvera Street rent years ago.
"You can't just go in and say ‘I'll increase your rent four times because I need money,' " said Paul Hamilton, an attorney representing the Olvera Street Merchants Assn. "Not without taking into account the impact on the merchants and also not taking into account the deal that was made in 1999."
Last June, an audit of the monument and its finances by the city controller's office raised questions over its rent structure and management. The audit showed that the park's revenues come mostly from merchant rent, parking fees, events and filming. But because of constant budget shortfalls, El Pueblo has required subsidies from the city's general fund. According to the audit, those general fund transfers to El Pueblo increased from $369,000 in fiscal year 2004-05 to $921,000 in fiscal year 2007-08.
Now the city is reexamining its relationship with El Pueblo, resulting in new rental rates and maintenance fee increases for merchants.
"I began looking at our finances and recognized that there were areas that needed to be improved," said Robert Andrade, general manager of El Pueblo. "We recognized that the original appraisal was dated, and we thought that we needed to update [it] to reflect the current market."
The new rates that went into effect April 1 vary, depending on the size and use of the building. Merchants who rent kiosks will see an increase from $300 a month to $950. Some retail shops, a number of which pay 50 cents per square foot under the old rental agreement, will see their rent increase to $2 per square foot.
Realizing that not all merchants may be able to pay the new rates, the El Pueblo department has partnered with the Community Development Department and is offering an opportunity for those merchants to apply for financial hardship. If they show that they would be unable to pay the market rate, a rent adjustment would be considered by the commission, Andrade said, adding that no merchants have applied yet.
Also at issue in the rent argument is Proposition H, an initiative passed by Los Angeles voters in 1992. Proposition H assured long-term leases with the merchants without competitive bidding to help preserve Olvera Street's charm. In 1999, the City Council also unanimously passed a resolution that included a master lease with a list of terms, such as 55-year leases with adjustments for inflation every five years.
El Pueblo directors say only some Olvera street businesses are covered by the resolution, but Hamilton, the merchants' lawyer, insists otherwise. He said that under the resolution, rents cannot be raised unless the city constructs another parking structure in the area. He also said the new rates are not keyed to inflation.
Among those tenants who will see their rent increase is Mike Maniscal, 55. His great-grandfather began working at Olvera Street when it was established, and Maniscal and his wife, Rosa, have run the Mexican art and pottery shop, Myrosa, for more than 30 years. The couple said they, as other merchants do, participate in all of the cultural events held each year including Las Posadas, Blessing of the Animals and Day of the Dead.
"Olvera Street is in us, this isn't just a job," Maniscal said. "We take pride in what Olvera Street represents, and we're grateful."
As a tourist wandered into his store one recent afternoon, Maniscal said he is unsure whether he will make it past next year's anniversary.
"I was asking others about that, and some said they were wondering if they'll be here the following week," Maniscal said. "No one knows at this point."
ruben.vives@latimes.com
Posted by Adrian Perez, Publisher at 1:18 PM 0 comments
Labels: LATINOS IN BUSINESS
Sunday, March 28, 2010Latino Professionals and business owners working together
Midstate Latinos are building momentum, 'now working together'
By DIANA FISHLOCK, The Patriot-News, March 27, 2010
Organizers are securing a building to open the Latino Hispanic American Community Center in the city’s Allison Hill neighborhood this summer.
New members are joining the Latino Hispanic Professional Association Central Pennsylvania.
Midstate Latinos are on the rise and building momentum.
“The Latino leadership is growing, reinvigorating, connecting,” said Hector Ortiz, the new community center’s board president.
The leaders were there all along but there is a growing sense of cooperation, said Yolanda Perez-Rivera, president and founding member of the professional association.
“We were just not as visible,” said Perez-Rivera, a professor at Harrisburg Area Community College. “We are now making noise. We are now working together.”
Organizers of the community center in Allison Hill hope it will create even more unity, growing into a place for Hispanic professionals and people needing food stamps or social services, Ortiz said. “This is why we call this a one-stop shop, not just for the poor, for everyone.”
Ed Lanza sees significant momentum among Latinos. He’s an attorney with Eckert Seamans and a board member of the Hispanic Chamber of Commerce, which launched in 2007 and has more than 75 members.
“We think we can help minority businesses to access opportunities through networking, knowing the people involved in handing out those contracts and those leads to burgeoning Hispanic businesses,” he said.
The professional association can help, said Jose Espinas, 41, of Annville, a case manager at the Community Action Commission. He said he is volunteering because he wants to help the community move ahead.
“It’s not going to go ahead unless we invest ourselves into it,” Espinas said. He wants to see more Latino students pursue higher education and wants to see more bilingual staff in businesses and agencies.
Why is this momentum building now?
There’s been an awakening in the midstate Hispanic community, Ortiz said.
“We have so many issues and we have to do something,” he said. “We have to take charge.”
Ironically, the closing of the Mount Pleasant Hispanic American Center might have paved the way for some of the resurgence in the local Hispanic community.
In late 2006, the Mount Pleasant center closed after 37 years of providing English lessons, after-school programs and help for immigrants. The organization had faced a series of setbacks in its final years, including a large turnover of board members and executive directors. It lost United Way funding for failing to provide measurable results or documentation of services.
Even while the center was open, there were unmet needs, some said.
“I think if you talk to people who’ve been around a long time, there are people in the community who’ve been doing this 15, 20, 25 years,” Lanza said. “They will tell you there was a sense of frustration. There was a center here right in the center of where the needs were, and yet the needs were not being met.”
Perez-Rivera credits Ortiz with a lot of the unity and cooperation, saying he has “very special skills.”
She also credits younger leaders such as Evita Cotta, a founder of the proposed community center, with using technology to reach more young Latinos with e-mail, Facebook, Twitter and cell phones.
Part of the momentum came from organizations that put together Latinos from different nationalities and backgrounds, Ortiz said. Estamos Unidos did this with families. The United Way of the Capital Region did the same with adult leaders.
Midstate Latinos come from 22 countries, Perez-Rivera said. “The community of Latinos is a very diverse community, ethnically, racially, culturally, class, economical. ... In common, we have some Spanish, some cultural values, but each country has our own cultural background.”
After a survey of midstate Latinos showed the need for more leadership, the United Way gave a $35,000 grant to the Pennsylvania Association of Latino Organizations Inc. to hold leadership training, said Joe Capita, the president and CEO of the United Way of the Capital Region.
That brought together people who had been isolated, including young leaders, doctors and professors, Ortiz said.
“They were professionals doing something, but now they were involved in their community,” he said.
Lanza credits the United Way for helping develop the leadership potential. “They have shown a willingness to fund the activities of a Hispanic center if it’s done right,” he said.
Another factor is Pennsylvania’s Latinos are seeing their neighbors become leaders, Ortiz said.
“The community is growing, the demographic is changing and you’ll see the changes in the leadership,” Ortiz said.
Posted by Adrian Perez, Publisher at 3:37 PM 0 comments
Labels: Latinos In The U.S.
Financial aid keeping Latinos out of college
Tech administrators address graduation gap among Hispanics
Jaime Gerik, myfoxlubbock.com, 03/26/10
A new study finds challenges outside the classroom are to blame for higher college dropout rates among Hispanic students. They say many face financial hardships and don't know where to turn for financial aid.
This is why Texas Tech wants to get the word out about a fairly new program geared toward those who are struggling.
Back in high school Andreina Chavez didn't give higher education much thought.
"At the beginning, I didn't think I was going to go to college," says Chavez. She says a family friend and mentor helped her get to where she is today, by finally convincing her college could be a reality.
"It took her about four years for me to realize I wanted to come to college and I wanted something better for myself."
Many others feel the same but don't make it to the end. The American Enterprise Institute for Public Policy study finds in Texas 40 percent of Hispanic students graduated within six years, compared to 45 percent of white students.
Juan Munoz with Texas Tech's Division of Institutional Diversity says "five percent, is that acceptable? Is 10 percent acceptable? 13 percent? Or is educational equity and parody what we want?"
Munoz says part of improving graduation rates involves making sure parents don't put added pressure on the student.
"Because when a parent says 'you know what son? I need you to go to work', are they really helping their child?" says Munoz.
Now a sophomore at Tech, Chavez is putting pressure, the positive kind, on her younger peers. She's part of the Hispanic Scholarship Fund. She speaks at high schools and community colleges about financial aid possibilities.
"It's kind of unreachable in a way, for most Hispanics because we don't really have resources to come to college or we're first-generation, so our parents don't know anything about college," says Chavez.
Munoz says "it's not as if we've got generations of higher education experience. So when you say financial aid, scholarship, grant, non-refundable assistance, it's a language they aren't completely familiar with."
He says the Red Raider Guarantee program is helping break the barrier. It pays for all four years, as well as tuition and books, if a family's gross adjusted income is below $40,000.
Meanwhile, Chavez is on her way to not just one but multiple degrees. She's on a full scholarship and plans to go to law school.
Posted by Adrian Perez, Publisher at 3:34 PM 1 comments
Labels: LATINOS IN EDUCATION
More ad spending on Hispanics
Hispanic-targeted efforts gain more ad dollars: study
Frank Washkuch, dmnews.com, March 26, 2010
Marketers allocated more of their marketing spend last year than in 2008 to targeting Hispanic consumers. However, that spending failed to reach pre-recession levels, according to the Association of Hispanic Advertising Agencies. The study is the latest indicator of the growing consumer clout of US Hispanics.
Advertisers allocated 5.4% of their ad spending last year to reaching Hispanic customers, up from 5.1% in 2008 but below the 5.6% of 2007.
Ad spending targeting Hispanic consumers also held its ground better than spending targeting non-Hispanics. According to the AHAA, advertising targeting non-Hispanics by the top 500 advertisers dropped by 9.5% in 2009, while spending seeking to reach Hispanics dropped by 4.4%.
The AHAA also increased the number of advertisers in its “best in class” category, defined by spending more than 11.8% of their ad budget on reaching Hispanics, from 32 to 40 last year. Those companies had an average distribution of 21.4%. Among the companies in that group are Time Warner Cable, Domino's Pizza and Red Bull.
Major professional sports organizations, such as the National Basketball Association, the National Football League, NASCAR and the National Hockey League launched multicultural campaigns last year trying to gain a wider range of consumers.
In recent months, Boost Mobile, T-Mobile and the Make-A-Wish Foundation launched initiatives specifically targeting Hispanic consumers. On the agency side, Garcia Research and Santiago ROI created a Hispanic market index, while Eclipse launched a Hispanic practice and Univision Interactive Media unveiled a Hispanic-targeted ad network.
Posted by Adrian Perez, Publisher at 3:23 PM 0 comments
Labels: LATINO CONSUMERS
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Americans are working longer
Hispanic entrepreneurs in Tampa invited to Contrac...
Small Hispanic ad agencies losing accounts to larg...
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Latino Professionals and business owners working t...
Financial aid keeping Latinos out of college
More ad spending on Hispanics
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Effects of foreclosures on Latino families
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Tax on beverages to reduce obesity
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Being a minority business owner is not enough
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Austin Hispanics grow purchasing power
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