Jaguar Dealers Take Final Drive

davidpatersonOn Thursday, in conjunction with his appointment of Paul T. Williams to the position of executive director of the Dormitory Authority of the State of New York, Gov. David Paterson signed an executive order to increase utilization of Minority and Women-owned Business Enterprise underwrit...

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Bibliographic Details
Published in:	Black enterprise 2008-06
Main Author:	Fortson, Jeff
Format:	Magazinearticle
Language:	eng
Subjects:	African Americans Executive orders Financial services Investment banking Municipal bonds Municipal finance Race relations Spectrum allocation Task forces Women owned businesses
Online Access:	Get full text
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Summary:	davidpatersonOn Thursday, in conjunction with his appointment of Paul T. Williams to the position of executive director of the Dormitory Authority of the State of New York, Gov. David Paterson signed an executive order to increase utilization of Minority and Women-owned Business Enterprise underwriters for state debt offerings. Paterson reported that Minority and Women’s Business Enterprises qualified for 35% of contracts but received only5%; a mere 1/7 of the total. “Since 2004, New York State has issued $22.3 billion of debt. ” “Frankly, New York has been behind other major states’ governmental bond issuers in giving business to African American firms; particularly those based in New York,” says J. Donald Rice Jr., CEO of Rice Financial Products Co (No. 6 on the BE INVESTMENT BANKS list with $30 billion in managed issues). [...]before the merger is approved, Rep. G.K. Butterfield (D-N.C.) and some members of the Congressional Black Caucus (CBC) want to ensure that minority-owned companies aren’t shut out of satellite radio ventures.
ISSN:	2691-5510